Segment information (Tables)

9 Months Ended

Sep. 30, 2020

The following tables present the Statement of Operations by segment:


For the Three Months Ended September 30, 2020 (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	$	3,778	$	1,285	$	986	$	2,238	$	181	$	610	$	—	$	—	$	9,078
Net premiums earned	3,456		1,231		971		2,337		171		599		—		—		8,765
Losses and loss expenses	2,444		961		845		1,192		154		183		55		1		5,835
Policy benefits	—		—		—		—		—		174		—		24		198
Policy acquisition costs	489		248		56		637		40		175		—		—		1,645
Administrative expenses	243		65		5		260		9		80		71		—		733
Underwriting income (loss)	280		(43)		65		248		(32)		(13)		(126)		(25)		354
Net investment income (loss)	510		64		7		130		85		95		(19)		(32)		840
Other (income) expense	7		1		—		1		—		(23)		(415)		(56)		(485)
Amortization expense of purchased intangibles	—		2		7		10		—		1		52		—		72
Segment income	$	783	$	18	$	65	$	367	$	53	$	104	$	218	$	(1)	$	1,607
Net realized gains (losses)													(142)		1		(141)
Interest expense													130		—		130

Income tax expense													142		—		142
Net income (loss)													$	(196)	$	—	$	1,194


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



Net premiums written	$	3,452	$	1,251	$	938	$	2,228	$	141	$	612	$	—	$	—	$	8,622
Net premiums earned	3,185		1,187		941		2,256		160		598		—		—		8,327
Losses and loss expenses	2,051		674		880		1,154		79		190		38		(14)		5,052
Policy benefits	—		—		—		—		—		165		—		(7)		158
Policy acquisition costs	459		240		56		630		42		176		—		—		1,603
Administrative expenses	256		72		4		257		9		80		74		—		752
Underwriting income (loss)	419		201		1		215		30		(13)		(112)		21		762
Net investment income (loss)	538		66		8		147		71		92		(28)		(21)		873
Other (income) expense	5		1		—		2		—		(17)		(34)		(14)		(57)
Amortization expense of purchased intangibles	—		3		7		11		—		1		54		—		76
Segment income (loss)	$	952	$	263	$	2	$	349	$	101	$	95	$	(160)	$	14	$	1,616
Net realized gains (losses) including OTTI													(141)		(14)		(155)
Interest expense													138		—		138
Chubb integration expenses													2		—		2
Income tax expense													230		—		230
Net income (loss)													$	(671)	$	—	$	1,091


For the Nine Months Ended September 30, 2020 (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	$	10,750	$	3,719	$	1,604	$	6,857	$	606	$	1,874	$	—	$	—	$	25,410
Net premiums earned	10,427		3,623		1,441		6,838		520		1,838		—		—		24,687
Losses and loss expenses	8,123		2,406		1,223		3,935		314		556		342		(2)		16,897
Policy benefits	—		—		—		—		—		542		—		8		550
Policy acquisition costs	1,452		724		96		1,903		127		551		—		—		4,853
Administrative expenses	751		199		12		759		28		238		214		—		2,201
Underwriting income (loss)	101		294		110		241		51		(49)		(556)		(6)		186
Net investment income (loss)	1,544		195		23		396		214		285		(65)		(64)		2,528
Other (income) expense	19		4		1		10		1		(52)		(283)		(72)		(372)
Amortization expense of purchased intangibles	—		8		20		33		—		3		153		—		217
Segment income (loss)	$	1,626	$	477	$	112	$	594	$	264	$	285	$	(491)	$	2	$	2,869
Net realized gains (losses)													(1,067)		(2)		(1,069)
Interest expense													390		—		390

Income tax expense													295		—		295
Net income (loss)													$	(2,243)	$	—	$	1,115


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



Net premiums written	$	9,937	$	3,616	$	1,534	$	6,881	$	540	$	1,770	$	—	$	—	$	24,278
Net premiums earned	9,660		3,509		1,374		6,595		487		1,730		—		—		23,355
Losses and loss expenses	6,238		2,178		1,163		3,385		245		581		83		(8)		13,865
Policy benefits	—		—		—		—		—		495		—		20		515
Policy acquisition costs	1,377		708		90		1,855		127		454		—		—		4,611
Administrative expenses	755		211		9		771		26		237		211		—		2,220
Underwriting income (loss)	1,290		412		112		584		89		(37)		(294)		(12)		2,144
Net investment income (loss)	1,584		194		22		444		206		278		(98)		(62)		2,568
Other (income) expense	17		2		1		11		—		(37)		(238)		(82)		(326)
Amortization expense of purchased intangibles	—		9		21		34		—		2		163		—		229
Segment income (loss)	$	2,857	$	595	$	112	$	983	$	295	$	276	$	(317)	$	8	$	4,809
Net realized gains (losses) including OTTI													(467)		(8)		(475)
Interest expense													418		—		418
Chubb integration expenses													9		—		9
Income tax expense													626		—		626
Net income (loss)													$	(1,837)	$	—	$	3,281