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Segment information (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Operations By Segment
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


Net Premiums Earned For Segment By Product
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


Net Premiums Earned by Geographic Region

North America

 
Europe (1)

 
Asia Pacific / Far East

 
Latin America

2019
70
%
 
11
%
 
12
%
 
7
%
2018
70
%
 
11
%
 
12
%
 
7
%
2017
70
%
 
11
%
 
12
%
 
7
%