Goodwill, Other intangible assets, and Value of business acquired (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill roll-forward by business segment

The following table presents a roll-forward of Goodwill by segment:

(in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Chubb Consolidated
Balance at December 31, 2020	$	6,972	$	2,240	$	134	$	4,836	$	371	$	847	$	15,400
Foreign exchange revaluation and other	—		—		—		(183)		—		(4)		(187)
Balance at December 31, 2021	$	6,972	$	2,240	$	134	$	4,653	$	371	$	843	$	15,213
Acquisition of Cigna's business in Asia	—		—		—		90		—		1,160		1,250
Foreign exchange revaluation and other	(27)		(10)		—		(138)		—		(1)		(176)
Balance at December 31, 2022	$	6,945	$	2,230	$	134	$	4,605	$	371	$	2,002	$	16,287

Schedule of Intangible Assets and Goodwill

Other intangible assets that are subject to amortization principally relate to agency distribution relationships and renewal rights and other intangible assets that are not subject to amortization principally relate to trademarks.

	December 31
(in millions of U.S. dollars)	2022		2021
Subject to amortization	$	2,459	$	2,508
Not subject to amortization	2,982		2,947
Total	$	5,441	$	5,455

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents, as of December 31, 2022, the expected estimated pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the next five years:

	For the Years Ending December 31
(in millions of U.S. dollars)	Total Amortization of purchased intangibles
2023	$	281
2024	260
2025	242
2026	220
2027	205
Total	$	1,208

Schedule of Changes in VOBA

The following table presents a roll-forward of VOBA:

			Year Ended December 31
(in millions of U.S. dollars)	2022		2021		2020
Balance, beginning of year	$	236	$	263	$	306
Acquisition of Cigna's business in Asia	3,503		—		—
Amortization of VOBA (1)	(164)		(22)		(27)
Foreign exchange revaluation and other	21		(5)		(16)
Balance, end of year	$	3,596	$	236	$	263

(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.

Schedule of expected pre-tax amortization related to VOBA for the next five years

The following table presents, as of December 31, 2022, the expected estimated pre-tax amortization expense related to VOBA for the next five years at current foreign currency exchange rates:

For the Years Ending December 31	VOBA
(in millions of U.S. dollars)
2023	$	333
2024	299
2025	270
2026	243
2027	219