Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Share Repurchase Program [Table Text Block]

The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:

	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share data)	2022		2021		2022		2021
Number of shares repurchased	3,676,528		8,412,000		14,022,728		22,877,400
Cost of shares repurchased	$	685	$	1,516	$	2,815	$	3,956
Repurchase authorization remaining at end of period	$	1,816	$	3,551	$	1,816	$	3,551

Dividends Declared

The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2022			2021			2022			2021
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.78	$	0.83	0.73	$	0.80	2.32	$	2.46	2.14	$	2.38

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss):

	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(5,713)	$	3,342	$	2,256	$	4,673
Change in period, before reclassification from AOCI (before tax)	(3,324)		(564)		(12,898)		(2,151)
Amounts reclassified from AOCI (before tax)	279		10		857		(26)
Change in period, before tax	(3,045)		(554)		(12,041)		(2,177)
Income tax benefit	147		98		1,174		390
Balance – end of period, net of tax	(8,611)		2,886		(8,611)		2,886
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,821)		(1,323)		(2,146)		(1,637)
Change in period, before tax	(966)		(414)		(1,676)		(84)
Income tax benefit	6		23		41		7
Balance – end of period, net of tax	(3,781)		(1,714)		(3,781)		(1,714)
Fair value hedging instruments
Balance – beginning of period, net of tax	—		—		—		—
Change in period, before reclassification from AOCI (before tax)	(94)		—		(94)		—
Amounts reclassified from AOCI (before tax)	32		—		32		—
Change in period, before tax	(62)		—		(62)		—
Income tax benefit	13		—		13		—
Balance – end of period, net of tax	(49)		—		(49)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	259		(197)		240		(167)
Change in period, before tax	3		4		27		(33)
Income tax (expense) benefit	(1)		(1)		(6)		6
Balance – end of period, net of tax	261		(194)		261		(194)
Accumulated other comprehensive income (loss)	$	(12,180)	$	978	$	(12,180)	$	978

Reclassification out of Accumulated Other Comprehensive Income

The following table presents reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:

	Three Months Ended				Nine Months Ended				Consolidated Statement of Operations Location
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Fixed maturities available for sale	$	(279)	$	(10)	$	(857)	$	26	Net realized gains (losses)
Income tax (expense) benefit	39		3		138		5		Income tax expense
	$	(240)	$	(7)	$	(719)	$	31	Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(32)	$	—	$	(32)	$	—	Net realized gains (losses)
Income tax (expense) benefit	7		—		7		—		Income tax expense
	$	(25)	$	—	$	(25)	$	—	Net income
Total amounts reclassified from AOCI	$	(265)	$	(7)	$	(744)	$	31