Segment information (Tables)

6 Months Ended

Jun. 30, 2023

The following tables present the Statement of Operations by segment:


For the Three Months Ended June 30, 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	$	5,155	$	1,581	$	767	$	2,885	$	293	$	1,270	$	—	$	—	$	11,951
Net premiums earned	4,606		1,357		635		2,908		237		1,256		—		—		10,999
Losses and loss expenses	2,871		846		507		1,267		91		35		61		5		5,683
Policy benefits	—		—		—		137		—		705		—		(12)		830
Policy acquisition costs	614		277		37		746		65		277		—		—		2,016
Administrative expenses	316		84		3		292		9		170		95		—		969
Underwriting income (loss)	805		150		88		466		72		69		(156)		7		1,501
Net investment income	726		86		14		200		48		161		3		(93)		1,145
Other (income) expense	5		(1)		(1)		(10)		—		(26)		14		(81)		(100)
Amortization expense of purchased intangibles	—		3		7		15		—		2		43		—		70
Segment income (loss)	$	1,526	$	234	$	96	$	661	$	120	$	254	$	(210)	$	(5)	$	2,676
Net realized gains (losses)													(309)		5		(304)
Market risk benefits gains (losses)													(7)		—		(7)
Interest expense													165		—		165
Cigna integration expenses													15		—		15
Income tax expense													392		—		392
Net income (loss)													$	(1,098)	$	—	$	1,793


For the Three Months Ended June 30, 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	$	4,665	$	1,426	$	738	$	2,640	$	262	$	562	$	—	$	—	$	10,293
Net premiums earned	4,248		1,271		573		2,696		222		539		—		—		9,549
Losses and loss expenses	2,446		773		478		1,143		139		27		191		9		5,206
Policy benefits	—		—		—		81		—		298		—		(18)		361
Policy acquisition costs	545		258		31		697		57		138		—		—		1,726
Administrative expenses	277		73		2		278		10		88		90		—		818
Underwriting income (loss)	980		167		62		497		16		(12)		(281)		9		1,438
Net investment income (loss)	522		64		7		162		76		109		(4)		(48)		888
Other (income) expense	—		1		—		3		1		(12)		138		(30)		101
Amortization expense of purchased intangibles	—		3		6		14		—		3		45		—		71
Segment income (loss)	$	1,502	$	227	$	63	$	642	$	91	$	106	$	(468)	$	(9)	$	2,154
Net realized gains (losses)													(512)		9		(503)
Market risk benefits gains (losses)													(33)		—		(33)
Interest expense													134		—		134
Cigna integration expenses													3		—		3
Income tax expense													291		—		291
Net income (loss)													$	(1,441)	$	—	$	1,190


For the Six Months Ended June 30, 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	$	9,443	$	2,877	$	1,060	$	6,148	$	570	$	2,563	$	—	$	—	$	22,661
Net premiums earned	8,975		2,677		794		5,694		481		2,520		—		—		21,141
Losses and loss expenses	5,600		1,734		647		2,504		203		67		72		4		10,831
Policy benefits	—		—		—		247		—		1,417		—		(37)		1,627
Policy acquisition costs	1,227		549		52		1,459		127		550		—		—		3,964
Administrative expenses	611		163		6		572		18		337		192		—		1,899
Underwriting income (loss)	1,537		231		89		912		133		149		(264)		33		2,820
Net investment income	1,424		168		31		388		97		314		14		(184)		2,252
Other (income) expense	12		—		—		(19)		(1)		(41)		(200)		(147)		(396)
Amortization expense of purchased intangibles	—		5		13		33		—		6		85		—		142
Segment income (loss)	$	2,949	$	394	$	107	$	1,286	$	231	$	498	$	(135)	$	(4)	$	5,326
Net realized gains (losses)													(385)		4		(381)
Market risk benefits gains (losses)													(122)		—		(122)
Interest expense													325		—		325
Cigna integration expenses													37		—		37
Income tax expense													776		—		776
Net income (loss)													$	(1,780)	$	—	$	3,685


For the Six Months Ended June 30, 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	$	8,704	$	2,606	$	800	$	5,719	$	515	$	1,138	$	—	$	—	$	19,482
Net premiums earned	8,362		2,518		544		5,324		457		1,081		—		—		18,286
Losses and loss expenses	4,943		1,486		386		2,439		254		51		201		10		9,770
Policy benefits	—		—		—		174		—		609		—		(49)		734
Policy acquisition costs	1,118		518		43		1,376		119		271		—		—		3,445
Administrative expenses	542		142		1		547		19		172		173		—		1,596
Underwriting income (loss)	1,759		372		114		788		65		(22)		(374)		39		2,741
Net investment income (loss)	1,011		123		14		309		161		212		(9)		(111)		1,710
Other (income) expense	6		2		—		5		1		(42)		(121)		(62)		(211)
Amortization expense of purchased intangibles	—		5		13		28		—		5		91		—		142
Segment income (loss)	$	2,764	$	488	$	115	$	1,064	$	225	$	227	$	(353)	$	(10)	$	4,520
Net realized gains (losses)													(490)		10		(480)
Market risk benefits gains (losses)													16		—		16
Interest expense													266		—		266
Cigna integration expenses													3		—		3
Income tax expense													644		—		644
Net income (loss)													$	(1,740)	$	—	$	3,143