Segment information (Tables)

12 Months Ended

Dec. 31, 2020


For the Year Ended December 31, 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	$	14,474	$	4,920	$	1,846	$	9,335	$	731	$	2,514	$	—	$	—	$	33,820
Net premiums earned	13,964		4,866		1,822		9,285		698		2,482		—		—		33,117
Losses and loss expenses	10,129		3,187		1,544		5,255		435		724		435		1		21,710
Policy benefits	—		—		—		—		—		726		—		58		784
Policy acquisition costs	1,942		974		123		2,568		174		766		—		—		6,547
Administrative expenses	1,006		270		9		1,034		37		320		303		—		2,979
Underwriting income (loss)	887		435		146		428		52		(54)		(738)		(59)		1,097
Net investment income (loss)	2,061		260		30		534		307		385		(87)		(115)		3,375
Other (income) expense	23		5		1		13		2		(74)		(791)		(173)		(994)
Amortization expense of purchased intangibles	—		11		27		45		—		4		203		—		290
Segment income (loss)	$	2,925	$	679	$	148	$	904	$	357	$	401	$	(237)	$	(1)	$	5,176
Net realized gains (losses)													(499)		1		(498)
Interest expense													516		—		516
Income tax expense													629		—		629
Net income (loss)													$	(1,881)	$	—	$	3,533


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		Segment Measure Reclass		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		1,616		4,606		352		757		158		(8)		18,730
Policy benefits	—		—		—		—		—		696		—		44		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		89		742		98		(53)		(477)		(36)		2,637
Net investment income (loss)	2,109		258		30		588		279		373		(125)		(86)		3,426
Other (income) expense	24		3		1		12		1		(48)		(459)		(130)		(596)
Amortization expense of purchased intangibles	—		12		28		45		—		2		218		—		305
Segment income (loss)	$	3,942	$	660	$	90	$	1,273	$	376	$	366	$	(361)	$	8	$	6,354
Net realized gains (losses) including OTTI													(522)		(8)		(530)
Interest expense													552		—		552
Chubb integration expenses													23		—		23
Income tax expense													795		—		795
Net income (loss)													$	(2,253)	$	—	$	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		Segment Measure Reclass		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		1,114		4,429		479		766		53		(3)		18,067
Policy benefits	—		—		—		—		—		628		—		(38)		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		385		823		(12)		(43)		(348)		41		2,609
Net investment income (loss)	2,061		236		28		622		289		341		(209)		(63)		3,305
Other (income) expense	3		1		2		3		—		(12)		(406)		(25)		(434)
Amortization expense of purchased intangibles	—		13		28		41		—		2		255		—		339
Segment income (loss)	$	3,665	$	378	$	383	$	1,401	$	277	$	308	$	(406)	$	3	$	6,009
Net realized gains (losses) including OTTI													(649)		(3)		(652)
Interest expense													641		—		641
Chubb integration expenses													59		—		59
Income tax expense													695		—		695
Net income (loss)													$	(2,450)	$	—	$	3,962

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)	2020		2019		2018
North America Commercial P&C Insurance
Property & other short-tail lines	$	2,423	$	1,987	$	1,861
Casualty & all other	10,812		10,136		9,773
A&H	729		799		768
Total North America Commercial P&C Insurance	13,964		12,922		12,402
North America Personal P&C Insurance
Personal automobile	822		829		803
Personal homeowners	3,327		3,183		3,127
Personal other	717		682		663
Total North America Personal P&C Insurance	4,866		4,694		4,593
North America Agricultural Insurance	1,822		1,795		1,569
Overseas General Insurance
Property & other short-tail lines	2,468		2,244		2,134
Casualty & all other	2,738		2,494		2,429
Personal lines	1,981		1,896		1,784
A&H	2,098		2,248		2,265
Total Overseas General Insurance	9,285		8,882		8,612
Global Reinsurance
Property	104		131		123
Property catastrophe	173		142		170
Casualty & all other	421		381		377
Total Global Reinsurance	698		654		670
Life Insurance
Life	1,317		1,101		1,022
A&H	1,165		1,242		1,196
Total Life Insurance	2,482		2,343		2,218
Total net premiums earned	$	33,117	$	31,290	$	30,064