Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes Chubb's best estimate of fair value of the assets acquired and liabilities assumed at July 1, 2022. The fair value of assets and liabilities, including intangible assets and tax-related items (classified below in Other assets and Other liabilities), are preliminary and may change with offsetting adjustments to goodwill. Chubb may make further

adjustments to its purchase price allocation through the end of the permissible one-year measurement period. Chubb does not expect changes, if any, to materially affect its financial position, results of operations, or cash flows.

Preliminary estimate of assets acquired and liabilities assumed from Cigna's business in Asia	July 1
(in millions of U.S. dollars)	2022
Assets
Investments and Cash	$	5,275
Accrued investment income	33
Insurance and reinsurance balances receivable	52
Reinsurance recoverable on losses and loss expenses	3
Reinsurance recoverable on future policy benefits	82
Value of business acquired	3,503
Goodwill and intangible assets	1,559
Other assets	649
Total assets	$	11,156
Liabilities
Unpaid losses and loss expenses	$	12
Unearned premiums	59
Future policy benefits	3,817
Insurance and reinsurance balances payable	115
Accounts payable, accrued expenses, and other liabilities	924
Deferred tax liabilities	870
Total liabilities	$	5,797
Net acquired assets, including goodwill	5,359
Total	$	11,156

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the results of the acquired Cigna's A&H and Life business operations since the acquisition date that have been included within our Consolidated statements of operations.

	July 1, 2022 to
(in millions of U.S. dollars)	December 31, 2022
Total revenues	$	1,507
Net income	$	148

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The preliminary purchase price allocation to intangible assets recorded in connection with the Cigna acquisition and their related useful lives at July 1, 2022, are as follows:

(in millions of U.S. dollars)	Amount		Weighted-average useful life
Definite life
Agency distribution relationships and renewal rights	$	230	22 years
Unearned premium reserves (UPR) intangible asset	9		1 year
Indefinite life
Trademarks	70		Indefinite
Total identified intangible assets	$	309

Business Acquisition, Pro Forma Information

The following table presents supplemental unaudited pro forma consolidated information for the periods indicated as though the acquisition of Cigna's business in Asia that occurred on July 1, 2022, had instead occurred on January 1, 2021, for each of the respective periods. The unaudited pro forma consolidated financial information is presented for informational purposes only and is not necessarily indicative of the operating results that would have occurred had the acquisition been consummated on January 1, 2021, nor is it necessarily indicative of future operating results. Significant assumptions used to determine pro forma operating results include amortization of VOBA and other intangible assets and recognition of interest expense associated with the repurchase agreement transactions used to effect the acquisition.

Pro forma:	For the Year Ended December 31
(in millions of U.S. dollars, except per share data)	2022		2021
Net premiums earned	$	41,913	$	39,495
Total revenues	$	44,673	$	44,166
Net income	$	5,503	$	8,921