Segment information (Tables)

9 Months Ended

Sep. 30, 2023

The following tables present the Statement of Operations by segment:


For the Three Months Ended September 30, 2023 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	5,132	$	1,527	$	1,521	$	3,211	$	261	$	1,452	$	—	$	—	$	13,104
Net premiums earned	4,735		1,407		1,540		3,311		239		1,442		—		—		12,674
Losses and loss expenses	3,025		900		1,356		1,635		116		20		61		(7)		7,106
Policy benefits	—		—		—		91		—		866		—		(19)		938
Policy acquisition costs	640		287		76		827		69		279		—		—		2,178
Administrative expenses	323		84		3		327		9		216		98		—		1,060
Underwriting income (loss)	747		136		105		431		45		61		(159)		26		1,392
Net investment income	780		94		12		248		47		211		14		(92)		1,314
Other (income) expense	6		2		—		(10)		—		(28)		(51)		(73)		(154)
Amortization expense of purchased intangibles	—		3		6		19		—		12		44		—		84
Segment income (loss)	$	1,521	$	225	$	111	$	670	$	92	$	288	$	(138)	$	7	$	2,776
Net realized gains (losses)													(96)		(7)		(103)
Market risk benefits gains (losses)													(32)		—		(32)
Interest expense													174		—		174
Cigna integration expenses													14		—		14
Income tax expense													413		—		413
Net income (loss)													(867)		—		2,040
Net loss attributable to noncontrolling interests													(3)		—		(3)
Net income (loss) attributable to Chubb													$	(864)	$	—	$	2,043


For the Three Months Ended September 30, 2022 (As Adjusted) (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,722	$	1,392	$	1,723	$	2,645	$	265	$	1,265	$	—	$	—	$	12,012
Net premiums earned	4,283		1,334		1,673		2,741		255		1,244		—		—		11,530
Losses and loss expenses	3,036		857		1,444		1,333		311		27		74		(19)		7,063
Policy benefits	—		—		—		108		—		666		—		(67)		707
Policy acquisition costs	583		274		68		720		59		266		—		—		1,970
Administrative expenses	272		71		3		264		8		174		91		—		883
Underwriting income (loss)	392		132		158		316		(123)		111		(165)		86		907
Net investment income	589		76		9		151		71		147		5		(69)		979
Other (income) expense	6		1		1		(2)		—		4		194		(2)		202
Amortization expense of purchased intangibles	—		2		7		12		—		2		46		—		69
Segment income (loss)	$	975	$	205	$	159	$	457	$	(52)	$	252	$	(400)	$	19	$	1,615
Net realized gains (losses)													(437)		(19)		(456)
Market risk benefits gains (losses)													69		—		69
Interest expense													150		—		150
Cigna integration expenses													23		—		23
Income tax expense													263		—		263
Net income (loss)													$	(1,204)	$	—	$	792


For the Nine Months Ended September 30, 2023 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	14,575	$	4,404	$	2,581	$	9,359	$	831	$	4,015	$	—	$	—	$	35,765
Net premiums earned	13,710		4,084		2,334		9,005		720		3,962		—		—		33,815
Losses and loss expenses	8,625		2,634		2,003		4,139		319		87		133		(3)		17,937
Policy benefits	—		—		—		338		—		2,283		—		(56)		2,565
Policy acquisition costs	1,867		836		128		2,286		196		829		—		—		6,142
Administrative expenses	934		247		9		899		27		553		290		—		2,959
Underwriting income (loss)	2,284		367		194		1,343		178		210		(423)		59		4,212
Net investment income	2,204		262		43		636		144		525		28		(276)		3,566
Other (income) expense	18		2		—		(29)		(1)		(69)		(251)		(220)		(550)
Amortization expense of purchased intangibles	—		8		19		52		—		18		129		—		226
Segment income (loss)	$	4,470	$	619	$	218	$	1,956	$	323	$	786	$	(273)	$	3	$	8,102
Net realized gains (losses)													(481)		(3)		(484)
Market risk benefits gains (losses)													(154)		—		(154)
Interest expense													499		—		499
Cigna integration expenses													51		—		51
Income tax expense													1,189		—		1,189
Net income (loss)													$	(2,647)	$	—	$	5,725
Net loss attributable to noncontrolling interests													(3)		—		(3)
Net income (loss) attributable to Chubb													$	(2,644)	$	—	$	5,728


For the Nine Months Ended September 30, 2022 (As Adjusted) (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	13,426	$	3,998	$	2,523	$	8,364	$	780	$	2,403	$	—	$	—	$	31,494
Net premiums earned	12,645		3,852		2,217		8,065		712		2,325		—		—		29,816
Losses and loss expenses	7,979		2,343		1,830		3,772		565		78		275		(9)		16,833
Policy benefits	—		—		—		282		—		1,275		—		(116)		1,441
Policy acquisition costs	1,701		792		111		2,096		178		537		—		—		5,415
Administrative expenses	814		213		4		811		27		346		264		—		2,479
Underwriting income (loss)	2,151		504		272		1,104		(58)		89		(539)		125		3,648
Net investment income (loss)	1,600		199		23		460		232		359		(4)		(180)		2,689
Other (income) expense	12		3		1		3		1		(38)		73		(64)		(9)
Amortization expense of purchased intangibles	—		7		20		40		—		7		137		—		211
Segment income (loss)	$	3,739	$	693	$	274	$	1,521	$	173	$	479	$	(753)	$	9	$	6,135
Net realized gains (losses)													(927)		(9)		(936)
Market risk benefits gains (losses)													85		—		85
Interest expense													416		—		416
Cigna integration expenses													26		—		26
Income tax expense													907		—		907
Net income (loss)													$	(2,944)	$	—	$	3,935