Reinsurance (Tables)

12 Months Ended

Dec. 31, 2021

Reinsurance Disclosures [Abstract]

Schedule of direct, assumed and ceded premiums

The following table presents direct, assumed, and ceded premiums:

	Year Ended December 31
(in millions of U.S. dollars)	2021		2020		2019
Premiums written
Direct	$	42,811	$	37,749	$	36,848
Assumed	3,969		3,512		3,276
Ceded	(8,912)		(7,441)		(7,849)
Net	$	37,868	$	33,820	$	32,275
Premiums earned
Direct	$	41,138	$	37,037	$	35,876
Assumed	3,650		3,323		3,107
Ceded	(8,433)		(7,243)		(7,693)
Net	$	36,355	$	33,117	$	31,290

Schedule of Reinsurance Recoverable on Ceded Insurance

b) Reinsurance recoverable on ceded reinsurance

	December 31, 2021				December 31, 2020
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	16,184	$	271	$	14,647	$	257
Reinsurance recoverable on paid losses and loss expenses	1,182		58		945		57
Reinsurance recoverable on losses and loss expenses	$	17,366	$	329	$	15,592	$	314
Reinsurance recoverable on policy benefits	$	213	$	4	$	206	$	5

Reinsurance Recoverable, Allowance for Credit Loss

The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on loss and loss expenses:

	Year Ended December 31
(in millions of U.S. dollars)	2021		2020
Valuation allowance for uncollectible reinsurance - beginning of period	$	314	$	316
Provision for uncollectible reinsurance	66		21
Write-offs charged against the valuation allowance	(50)		(25)
Foreign exchange revaluation	(1)		2
Valuation allowance for uncollectible reinsurance - end of period	$	329	$	314

Schedule of Reinsurance Recoverable And Provision by Category of Reinsurer

The following tables present a listing, at December 31, 2021, of the categories of Chubb's reinsurers:

December 31, 2021	Gross Reinsurance Recoverable on Loss and Loss Expenses		Valuation allowance for Uncollectible Reinsurance		% of Gross Reinsurance Recoverable
(in millions of U.S. dollars, except for percentages)
Categories
Largest reinsurers	$	8,441	$	102	1.2	%
Other reinsurers rated A- or better	5,435		63		1.2	%
Other reinsurers rated lower than A- or not rated	315		48		15.3	%
Pools	415		10		2.4	%
Structured settlements	516		13		2.5	%
Captives	2,325		28		1.2	%
Other	248		65		26.2	%
Total	$	17,695	$	329	1.9	%