Segment information (Tables)

3 Months Ended

Mar. 31, 2023

The following tables present the Statement of Operations by segment:


For the Three Months Ended March 31, 2023 (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	$	4,288	$	1,296	$	293	$	3,263	$	277	$	1,293	$	—	$	—	$	10,710
Net premiums earned	4,369		1,320		159		2,786		244		1,264		—		—		10,142
Losses and loss expenses	2,729		888		140		1,237		112		32		11		(1)		5,148
Policy benefits	—		—		—		110		—		712		—		(25)		797
Policy acquisition costs	613		272		15		713		62		273		—		—		1,948
Administrative expenses	295		79		3		280		9		167		97		—		930
Underwriting income (loss)	732		81		1		446		61		80		(108)		26		1,319
Net investment income	698		82		17		188		49		153		11		(91)		1,107
Other (income) expense	7		1		1		(9)		(1)		(15)		(214)		(66)		(296)
Amortization expense of purchased intangibles	—		2		6		18		—		4		42		—		72
Segment income	$	1,423	$	160	$	11	$	625	$	111	$	244	$	75	$	1	$	2,650
Net realized gains (losses)													(76)		(1)		(77)
Market risk benefits gains (losses)													(115)		—		(115)
Interest expense													160		—		160
Cigna integration expenses													22		—		22
Income tax expense													384		—		384
Net income (loss)													$	(682)	$	—	$	1,892


For the Three Months Ended March 31, 2022 (As Adjusted) (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	$	4,039	$	1,180	$	62	$	3,079	$	253	$	576	$	—	$	—	$	9,189
Net premiums earned	4,114		1,247		(29)		2,628		235		542		—		—		8,737
Losses and loss expenses	2,497		713		(92)		1,296		115		24		10		1		4,564
Policy benefits	—		—		—		93		—		311		—		(31)		373
Policy acquisition costs	573		260		12		679		62		133		—		—		1,719
Administrative expenses	265		69		(1)		269		9		84		83		—		778
Underwriting income (loss)	779		205		52		291		49		(10)		(93)		30		1,303
Net investment income (loss)	489		59		7		147		85		103		(5)		(63)		822
Other (income) expense	6		1		—		2		—		(30)		(259)		(32)		(312)
Amortization expense of purchased intangibles	—		2		7		14		—		2		46		—		71
Segment income	$	1,262	$	261	$	52	$	422	$	134	$	121	$	115	$	(1)	$	2,366
Net realized gains (losses)													22		1		23
Market risk benefits gains (losses)													49		—		49
Interest expense													132		—		132
Income tax expense													353		—		353
Net income (loss)													$	(299)	$	—	$	1,953