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Investments (Tables)
 12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt securities Available for sale
December 31, 2020
Amortized
Cost
Valuation AllowanceGross Unrealized AppreciationGross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$2,471 $— $199 $— $2,670 
Non-U.S.24,594 (6)1,808 (42)26,354 
Corporate and asset-backed securities34,095 (14)2,322 (72)36,331 
Mortgage-backed securities17,456 — 1,022 (8)18,470 
Municipal6,572 — 304 (2)6,874 
$85,188 $(20)$5,655 $(124)$90,699 
Amortized CostValuation AllowanceNet Carrying ValueGross Unrealized AppreciationGross Unrealized DepreciationFair
Value
Held to maturity
U.S. Treasury / Agency$1,392 $— $1,392 $60 $— $1,452 
Non-U.S.1,295 (7)1,288 118 (1)1,405 
Corporate and asset-backed securities2,185 (35)2,150 288 — 2,438 
Mortgage-backed securities2,000 (1)1,999 148 (1)2,146 
Municipal4,825 (1)4,824 245 — 5,069 
$11,697 $(44)$11,653 $859 $(2)$12,510 
December 31, 2019Amortized
Cost		Gross
Unrealized
Appreciation		Gross
Unrealized
Depreciation		Fair
Value		OTTI Recognized
in AOCI
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$3,188 $96 $(1)$3,283 $— 
Non-U.S.22,670 1,099 (62)23,707 (25)
Corporate and asset-backed securities30,689 1,180 (78)31,791 (5)
Mortgage-backed securities18,712 494 (14)19,192 — 
Municipal7,321 205 (11)7,515 — 
$82,580 $3,074 $(166)$85,488 $(30)
Held to maturity
U.S. Treasury / Agency$1,318 $29 $— $1,347 $— 
Non-U.S.1,423 62 — 1,485 — 
Corporate and asset-backed securities2,349 121 (2)2,468 — 
Mortgage-backed securities2,331 65 — 2,396 — 
Municipal5,160 150 (1)5,309 — 
$12,581 $427 $(3)$13,005 $— 
Debt Securities Held to Maturity
December 31, 2020
Amortized
Cost
Valuation AllowanceGross Unrealized AppreciationGross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$2,471 $— $199 $— $2,670 
Non-U.S.24,594 (6)1,808 (42)26,354 
Corporate and asset-backed securities34,095 (14)2,322 (72)36,331 
Mortgage-backed securities17,456 — 1,022 (8)18,470 
Municipal6,572 — 304 (2)6,874 
$85,188 $(20)$5,655 $(124)$90,699 
Amortized CostValuation AllowanceNet Carrying ValueGross Unrealized AppreciationGross Unrealized DepreciationFair
Value
Held to maturity
U.S. Treasury / Agency$1,392 $— $1,392 $60 $— $1,452 
Non-U.S.1,295 (7)1,288 118 (1)1,405 
Corporate and asset-backed securities2,185 (35)2,150 288 — 2,438 
Mortgage-backed securities2,000 (1)1,999 148 (1)2,146 
Municipal4,825 (1)4,824 245 — 5,069 
$11,697 $(44)$11,653 $859 $(2)$12,510 
December 31, 2019Amortized
Cost		Gross
Unrealized
Appreciation		Gross
Unrealized
Depreciation		Fair
Value		OTTI Recognized
in AOCI
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency$3,188 $96 $(1)$3,283 $— 
Non-U.S.22,670 1,099 (62)23,707 (25)
Corporate and asset-backed securities30,689 1,180 (78)31,791 (5)
Mortgage-backed securities18,712 494 (14)19,192 — 
Municipal7,321 205 (11)7,515 — 
$82,580 $3,074 $(166)$85,488 $(30)
Held to maturity
U.S. Treasury / Agency$1,318 $29 $— $1,347 $— 
Non-U.S.1,423 62 — 1,485 — 
Corporate and asset-backed securities2,349 121 (2)2,468 — 
Mortgage-backed securities2,331 65 — 2,396 — 
Municipal5,160 150 (1)5,309 — 
$12,581 $427 $(3)$13,005 $— 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The following table presents the amortized cost of our HTM securities according to S&P rating:

December 31, 2020
(in millions of U.S. dollars)Amortized cost% of Total
AAA$2,511 22 %
AA6,193 53 %
A2,138 18 %
BBB826 7 %
BB28 — %
Other1 — %
Total$11,697 100 %
Schedule Of Fixed Maturities By Contractual Maturity
The following table presents fixed maturities by contractual maturity:

December 31December 31
20202019 
(in millions of U.S. dollars)Net Carrying ValueFair ValueAmortized CostFair Value
Available for sale
Due in 1 year or less$4,760 $4,760 $3,951 $3,973 
Due after 1 year through 5 years26,227 26,227 27,142 27,720 
Due after 5 years through 10 years27,232 27,232 23,901 24,874 
Due after 10 years14,010 14,010 8,874 9,729 
72,229 72,229 63,868 66,296 
Mortgage-backed securities18,470 18,470 18,712 19,192 
$90,699 $90,699 $82,580 $85,488 
Held to maturity
Due in 1 year or less$1,231 $1,240 $478 $479 
Due after 1 year through 5 years3,592 3,760 3,869 3,940 
Due after 5 years through 10 years3,029 3,228 3,756 3,883 
Due after 10 years1,802 2,136 2,147 2,307 
9,654 10,364 10,250 10,609 
Mortgage-backed securities1,999 2,146 2,331 2,396 
$11,653 $12,510 $12,581 $13,005 
Schedule Of Aggregate Fair Value And Gross Unrealized Loss By Length Of Time The Security Has Continuously Been In An Unrealized Loss Position
The following table presents, for AFS fixed maturities in an unrealized loss position (including securities on loan) that are not deemed to have credit losses, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:
 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2020Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
Non-U.S.$1,628 $(35)$114 $(5)$1,742 $(40)
Corporate and asset-backed securities2,212 (33)593 (14)2,805 (47)
Mortgage-backed securities875 (6)35 (2)910 (8)
Municipal
40 (1)16 (1)56 (2)
Total AFS fixed maturities$4,755 $(75)$758 $(22)$5,513 $(97)

The following table presents, for all securities in an unrealized loss position (including securities on loan), the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: 
 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2019Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency$234 $(1)$339 $— $573 $(1)
Non-U.S.1,846 (34)802 (28)2,648 (62)
Corporate and asset-backed securities2,121 (40)988 (40)3,109 (80)
Mortgage-backed securities1,174 (6)932 (8)2,106 (14)
Municipal
188 — 276 (12)464 (12)
Total fixed maturities$5,563 $(81)$3,337 $(88)$8,900 $(169)
Schedule Of Net Realized Gains (Losses) And The Losses Included In Net Realized Gains (Losses) And OCI
The following table presents the components of Net realized gains (losses) and the change in net unrealized appreciation (depreciation) of investments:
 Year Ended December 31
(in millions of U.S. dollars)202020192018
Fixed maturities:
OTTI on fixed maturities, gross$— $(90)$(52)
OTTI on fixed maturities recognized in OCI (pre-tax)— 32 3 
OTTI on fixed maturities, net— (58)(49)
Gross realized gains excluding OTTI244 203 334 
Gross realized losses excluding OTTI(366)(176)(587)
Recovery of expected credit losses11 — — 
Impairment (1)
(170)— — 
Total fixed maturities(281)(31)(302)
Equity securities586 104 (59)
Other investments (32)(20)(5)
Foreign exchange gains (losses)(483)7 131 
Investment and embedded derivative instruments81 (435)(75)
Fair value adjustments on insurance derivative(202)(4)(248)
S&P futures(108)(138)(4)
Other derivative instruments1 (8)(3)
Other(60)(5)(87)
Net realized gains (losses) (pre-tax)
$(498)$(530)$(652)
Change in net unrealized appreciation (depreciation) on investments (pre-tax):
Fixed maturities available for sale$2,628 $3,769 $(1,958)
Fixed maturities held to maturity(24)(31)(38)
Other(12)(3)— 
Income tax (expense) benefit(462)(647)297 
Change in net unrealized appreciation (depreciation) on investments (after-tax)$2,130 $3,088 $(1,699)
Gain (Loss) on Securities [Table Text Block]
Realized gains and losses from Equity securities and Other investments from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:

Year Ended December 31, 2020Year Ended December 31, 2019Year Ended December 31, 2018
(in millions of U.S. dollars)Equity SecuritiesOther InvestmentsTotalEquity SecuritiesOther InvestmentsTotalEquity SecuritiesOther InvestmentsTotal
Net gains (losses) recognized during the period$586 $(32)$554 $104 $(20)$84 $(59)$(5)$(64)
Less: Net gains (losses) recognized from sales of securities455 — 455 58 (5)53 70 121 191 
Unrealized gains (losses) recognized for securities still held at reporting date$131 $(32)$99 $46 $(15)$31 $(129)$(126)$(255)
Debt Securities, Available-for-sale, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended
December 31
(in millions of U.S. dollars)2020
Available for sale
Valuation allowance for expected credit losses - beginning of period$— 
Impact of adoption of new accounting guidance25 
Provision for expected credit loss188 
Initial allowance for purchased securities with credit deterioration5 
Write-offs charged against the expected credit loss(5)
Recovery of expected credit loss(193)
Valuation allowance for expected credit losses - end of period$20 
Held to maturity
Valuation allowance for expected credit losses - beginning of period$— 
Impact of adoption of new accounting guidance44 
Provision for expected credit loss9 
Recovery of expected credit loss(9)
Valuation allowance for expected credit losses - end of period$44 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended
December 31
(in millions of U.S. dollars)2020
Available for sale
Valuation allowance for expected credit losses - beginning of period$— 
Impact of adoption of new accounting guidance25 
Provision for expected credit loss188 
Initial allowance for purchased securities with credit deterioration5 
Write-offs charged against the expected credit loss(5)
Recovery of expected credit loss(193)
Valuation allowance for expected credit losses - end of period$20 
Held to maturity
Valuation allowance for expected credit losses - beginning of period$— 
Impact of adoption of new accounting guidance44 
Provision for expected credit loss9 
Recovery of expected credit loss(9)
Valuation allowance for expected credit losses - end of period$44 
Schedule Of Other Investments
December 31
(in millions of U.S. dollars)20202019
Alternative investments:
Partially-owned investment companies$5,969 $4,142 
Limited partnerships547 508 
Investment funds254 271 
Alternative investments6,770 4,921 
Life insurance policies438 377 
Policy loans233 247 
Non-qualified separate account assets (1)
316 283 
Other188 234 
Total$7,945 $6,062 
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments of alternative investments: 
December 31December 31
 20202019
(in millions of U.S. dollars)Expected Liquidation
Period of Underlying Assets		Fair ValueMaximum
Future Funding
Commitments		Fair ValueMaximum
Future Funding
Commitments
Financial
2 to 10 Years
$673 $237 $611 $329 
Real Assets
2 to 11 Years
805 598 712 422 
Distressed
2 to 8 Years
358 970 263 80 
Private Credit
3 to 8 Years
88 270 104 272 
Traditional
2 to 14 Years
4,519 1,125 2,844 2,160 
Vintage
1 to 2 Years
73 — 116 — 
Investment fundsNot Applicable254 — 271 — 
$6,770 $3,200 $4,921 $3,263 
Schedule Of Sources Of Net Investment Income
Year Ended December 31
(in millions of U.S. dollars)2020 2019 2018 
Fixed maturities (1)
$3,321 $3,385 $3,128 
Short-term investments48 84 90 
Other interest income 19 25 118 
Equity securities81 26 33 
Other investments82 78 104 
Gross investment income (1)
3,551 3,598 3,473 
Investment expenses(176)(172)(168)
Net investment income (1)
$3,375 $3,426 $3,305 
(1) Includes amortization expense related to fair value adjustment of acquired invested assets
    related to the Chubb Corp acquisition
$(116)$(161)$(248)
Schedule Of Components Of Restricted Assets
The following table presents the components of restricted assets: 
December 31December 31
(in millions of U.S. dollars)20202019
Trust funds$12,305 $14,004 
Deposits with U.S. regulatory authorities2,438 2,466 
Deposits with non-U.S. regulatory authorities2,905 2,709 
Assets pledged under repurchase agreements1,462 1,464 
Other pledged assets584 490 
Total$19,694 $21,133