Segment information (Tables)

12 Months Ended

Dec. 31, 2019



For the Year Ended December 31, 2019 (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			Chubb Consolidated
Net premiums written	$	13,375		$	4,787	$	1,810	$	9,262	$	649		$	2,392		$	—		$	32,275
Net premiums earned	12,922			4,694		1,795		8,882		654			2,343			—			31,290
Losses and loss expenses	8,206			3,043		1,608		4,606		352			757			158			18,730
Policy benefits	—			—		—		—		—			740			—			740
Policy acquisition costs	1,831			948		84		2,501		169			620			—			6,153
Administrative expenses	1,028			286		6		1,033		35			323			319			3,030
Underwriting income (loss)	1,857			417		97		742		98			(97		)	(477		)	2,637
Net investment income (loss)	2,082			258		30		588		220			373			(125		)	3,426
Other (income) expense	(3		)	3		1		12		(58		)	(92		)	(459		)	(596		)
Amortization expense of purchased intangibles	—			12		28		45		—			2			218			305
Segment income (loss)	$	3,942		$	660	$	98	$	1,273	$	376		$	366		$	(361	)	$	6,354
Net realized gains (losses) including OTTI																(530		)	(530		)
Interest expense																552			552
Chubb integration expenses																23			23
Income tax expense																795			795
Net income (loss)																$	(2,261	)	$	4,454



For the Year Ended December 31, 2018 (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			Chubb Consolidated
Net premiums written	$	12,485		$	4,674	$	1,577		$	8,902	$	671		$	2,270		$	—		$	30,579
Net premiums earned	12,402			4,593		1,569			8,612		670			2,218			—			30,064
Losses and loss expenses	8,000			3,229		1,111			4,429		479			766			53			18,067
Policy benefits	—			—		—			—		—			590			—			590
Policy acquisition costs	1,829			939		79			2,346		162			557			—			5,912
Administrative expenses	966			269		(9		)	1,014		41			310			295			2,886
Underwriting income (loss)	1,607			156		388			823		(12		)	(5		)	(348		)	2,609
Net investment income (loss)	2,033			236		28			619		257			341			(209		)	3,305
Other (income) expense	(25		)	1		2			—		(32		)	26			(406		)	(434		)
Amortization expense of purchased intangibles	—			13		28			41		—			2			255			339
Segment income (loss)	$	3,665		$	378	$	386		$	1,401	$	277		$	308		$	(406	)	$	6,009
Net realized gains (losses) including OTTI																	(652		)	(652		)
Interest expense																	641			641
Chubb integration expenses																	59			59
Income tax expense																	695			695
Net income (loss)																	$	(2,453	)	$	3,962



For the Year Ended December 31, 2017 (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			Chubb Consolidated
Net premiums written	$	12,019	$	4,533		$	1,516		$	8,350		$	685		$	2,141		$	—		$	29,244
Net premiums earned	12,191		4,399			1,508			8,131			704			2,101			—			29,034
Losses and loss expenses	8,287		3,265			1,036			4,281			561			739			285			18,454
Policy benefits	—		—			—			—			—			676			—			676
Policy acquisition costs	1,873		899			81			2,221			177			530			—			5,781
Administrative expenses	981		264			(8		)	982			44			303			267			2,833
Underwriting income (loss)	1,050		(29		)	399			647			(78		)	(147		)	(552		)	1,290
Net investment income (loss)	1,961		226			25			610			273			313			(283		)	3,125
Other (income) expense	1		4			2			(4		)	(1		)	(84		)	(318		)	(400		)
Amortization expense of purchased intangibles	—		16			29			45			—			2			168			260
Segment income (loss)	$	3,010	$	177		$	393		$	1,216		$	196		$	248		$	(685	)	$	4,555
Net realized gains (losses) including OTTI																		84			84
Interest expense																		607			607
Chubb integration expenses																		310			310
Income tax benefit																		(139		)	(139		)
Net income (loss)																		$	(1,379	)	$	3,861

The following table presents net premiums earned for each segment by line of business:




	For the Year Ended December 31
(in millions of U.S. dollars)	2019		2018		2017
North America Commercial P&C Insurance
Property & other short-tail lines	$	1,987	$	1,861	$	1,899
Casualty & all other	10,136		9,773		9,554
A&H	799		768		738
Total North America Commercial P&C Insurance	12,922		12,402		12,191
North America Personal P&C Insurance
Personal automobile	829		803		742
Personal homeowners	3,183		3,127		3,014
Personal other	682		663		643
Total North America Personal P&C Insurance	4,694		4,593		4,399
North America Agricultural Insurance	1,795		1,569		1,508
Overseas General Insurance
Property & other short-tail lines	2,244		2,134		2,076
Casualty & all other	2,494		2,429		2,266
Personal lines	1,896		1,784		1,609
A&H	2,248		2,265		2,180
Total Overseas General Insurance	8,882		8,612		8,131
Global Reinsurance
Property & other short-tail lines	131		123		132
Property catastrophe	142		170		198
Casualty & all other	381		377		374
Total Global Reinsurance	654		670		704
Life Insurance
Life	1,101		1,022		980
A&H	1,242		1,196		1,121
Total Life Insurance	2,343		2,218		2,101
Total net premiums earned	$	31,290	$	30,064	$	29,034