Share Repurchase Program [Table Text Block] |
The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | July 1, 2024 through July 25, 2024 | | June 30 | | June 30 | | (in millions of U.S. dollars, except share data) | 2024 | | 2023 | | 2024 | | 2023 | | Number of shares repurchased | 2,254,236 | | | 3,674,300 | | | 3,474,357 | | | 5,684,700 | | | 175,465 | | Cost of shares repurchased | $ | 570 | | | $ | 724 | | | $ | 886 | | | $ | 1,152 | | | $ | 45 | | Repurchase authorization remaining at end of period | $ | 2,808 | | | $ | — | | | $ | 2,808 | | | $ | — | | | $ | 2,764 | |
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Schedule of Accumulated Other Comprehensive Income (Loss) |
The following table presents changes in accumulated other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30 | | June 30 | (in millions of U.S. dollars) | 2024 | | 2023 | | 2024 | | 2023 | Accumulated other comprehensive income (loss) (AOCI) | | | | | | | | Net unrealized appreciation (depreciation) on investments | | | | | | | | Balance – beginning of period, net of tax | $ | (4,825) | | | $ | (5,659) | | | $ | (4,177) | | | $ | (7,279) | | Change in period, before reclassification from AOCI (before tax) | (484) | | | (1,301) | | | (1,280) | | | 305 | | Amounts reclassified from AOCI (before tax) | (5) | | | 107 | | | 114 | | | 287 | | Change in period, before tax | (489) | | | (1,194) | | | (1,166) | | | 592 | | Income tax (expense) benefit | 7 | | | 44 | | | 49 | | | (122) | | Total other comprehensive income (loss) | (482) | | | (1,150) | | | (1,117) | | | 470 | | Noncontrolling interests, net of tax | (6) | | | — | | | 7 | | | — | | Balance – end of period, net of tax | (5,301) | | | (6,809) | | | (5,301) | | | (6,809) | | Current discount rate on liability for future policy benefits | | | | | | | | Balance – beginning of period, net of tax | 11 | | | (205) | | | 51 | | | (75) | | Change in period, before tax | 53 | | | (35) | | | — | | | (186) | | Income tax (expense) benefit | (2) | | | (7) | | | (22) | | | 14 | | Total other comprehensive income (loss) | 51 | | | (42) | | | (22) | | | (172) | | Noncontrolling interests, net of tax | (4) | | | — | | | (37) | | | — | | Balance – end of period, net of tax | 66 | | | (247) | | | 66 | | | (247) | | Instrument-specific credit risk on market risk benefits | | | | | | | | Balance – beginning of period, net of tax | (17) | | | (27) | | | (22) | | | (24) | | Change in period, before tax | 5 | | | 11 | | | 10 | | | 8 | | Income tax expense | (1) | | | — | | | (1) | | | — | | Total other comprehensive income | 4 | | | 11 | | | 9 | | | 8 | | Noncontrolling interests, net of tax | — | | | — | | | — | | | — | | Balance – end of period, net of tax | (13) | | | (16) | | | (13) | | | (16) | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30 | | June 30 | (in millions of U.S. dollars) | 2024 | | 2023 | | 2024 | | 2023 | Accumulated other comprehensive income (loss) (AOCI) - continued | | | | | | | | Cumulative foreign currency translation adjustment | | | | | | | | Balance – beginning of period, net of tax | (2,864) | | | (3,136) | | | (2,945) | | | (2,966) | | Change in period, before reclassification from AOCI (before tax) | (527) | | | 219 | | | (444) | | | 45 | | Amounts reclassified from AOCI (before tax) | (3) | | | (4) | | | (6) | | | (7) | | Change in period, before tax | (530) | | | 215 | | | (450) | | | 38 | | Income tax benefit | 19 | | | 1 | | | 12 | | | 8 | | Total other comprehensive income (loss) | (511) | | | 216 | | | (438) | | | 46 | | Noncontrolling interests, net of tax | (33) | | | — | | | (41) | | | — | | Balance – end of period, net of tax | (3,342) | | | (2,920) | | | (3,342) | | | (2,920) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair value hedging instruments | | | | | | | | Balance – beginning of period, net of tax | 13 | | | (92) | | | (13) | | | (66) | | Change in period, before reclassification from AOCI (before tax) | (46) | | | 57 | | | (54) | | | 40 | | Amounts reclassified from AOCI (before tax) | 16 | | | (7) | | | 57 | | | (23) | | Change in period, before tax | (30) | | | 50 | | | 3 | | | 17 | | Income tax (expense) benefit | 6 | | | (11) | | | (1) | | | (4) | | Total other comprehensive income (loss) | (24) | | | 39 | | | 2 | | | 13 | | Noncontrolling interests, net of tax | — | | | — | | | — | | | — | | Balance – end of period, net of tax | (11) | | | (53) | | | (11) | | | (53) | | Postretirement benefit liability adjustment | | | | | | | | Balance – beginning of period, net of tax | 296 | | | 224 | | | 297 | | | 225 | | Change in period, before tax | 1 | | | (2) | | | (1) | | | (2) | | Income tax benefit | — | | | 1 | | | 1 | | | — | | Total other comprehensive income (loss) | 1 | | | (1) | | | — | | | (2) | | Noncontrolling interests, net of tax | — | | | — | | | — | | | — | | Balance – end of period, net of tax | 297 | | | 223 | | | 297 | | | 223 | | Accumulated other comprehensive loss | $ | (8,304) | | | $ | (9,822) | | | $ | (8,304) | | | $ | (9,822) | | | | | | | | | |
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