XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Net premiums written $ 13,104 $ 12,012 $ 35,765 $ 31,494
Increase in unearned premiums (430) (482) (1,950) (1,678)
Net premiums earned 12,674 11,530 33,815 29,816
Net investment income 1,314 979 3,566 2,689
Net realized gains (losses) (103) (456) (484) (936)
Market risk benefits gains (losses) (32) 69 (154) 85
Total revenues 13,853 12,122 36,743 31,654
Expenses        
Losses and loss expenses 7,106 7,063 17,937 16,833
Policy benefits (includes remeasurement gains of $25, $17, $21, and $11) 938 707 2,565 1,441
Policy acquisition costs 2,178 1,970 6,142 5,415
Administrative expenses 1,060 883 2,959 2,479
Interest expense 174 150 499 416
Other (income) expense (154) 202 (550) (9)
Amortization of purchased intangibles 84 69 226 211
Cigna integration expenses 14 23 51 26
Total expenses 11,400 11,067 29,829 26,812
Income before income tax 2,453 1,055 6,914 4,842
Income tax expense 413 263 1,189 907
Net Income 2,040 792 5,725 3,935
Net loss attributable to noncontrolling interests (3) 0 (3) 0
Net income attributable to Chubb 2,043 792 5,728 3,935
Other comprehensive income (loss):        
Change in unrealized depreciation (2,170) (3,045) (1,578) (12,041)
Current discount rate on future policy benefits 683 479 497 1,546
Instrument-specific credit risk on market risk benefits (5) 8 3 48
Cumulative foreign currency translation adjustment (317) (942) (279) (1,631)
Other, including postretirement benefit liability adjustment 37 (59) 52 (35)
Other comprehensive loss, before income tax (1,772) (3,559) (1,305) (12,113)
Income tax (expense) benefit related to OCI items 0 109 (104) 1,071
Other comprehensive loss (1,772) (3,450) (1,409) (11,042)
Comprehensive income (loss) 268 (2,658) 4,316 (7,107)
Comprehensive loss attributable to noncontrolling interests (79) 0 (79) 0
Comprehensive income (loss) attributable to Chubb $ 347 $ (2,658) $ 4,395 $ (7,107)
Earnings per share        
Basic earnings per share attributable to Chubb $ 4.99 $ 1.90 $ 13.90 $ 9.34
Diluted earnings per share attributable to Chubb $ 4.95 $ 1.89 $ 13.79 $ 9.26