Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

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
	2023			2022			2023			2022
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.75	$	0.86	0.78	$	0.83	2.29	$	2.55	2.32	$	2.46

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)	2023		2022		2023		2022
Number of shares repurchased	2,949,900		3,676,528		8,634,600		14,022,728
Cost of shares repurchased	$	606	$	685	$	1,758	$	2,815
Repurchase authorization remaining at end of period	$	4,398	$	1,816	$	4,398	$	1,816

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
	2023		2022		2023		2022
(in millions of U.S. dollars)			As Adjusted				As Adjusted
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(6,809)	$	(5,713)	$	(7,279)	$	2,256
Change in period, before reclassification from AOCI (before tax)	(2,240)		(3,324)		(1,935)		(12,898)
Amounts reclassified from AOCI (before tax)	70		279		357		857
Change in period, before tax	(2,170)		(3,045)		(1,578)		(12,041)
Income tax (expense) benefit	29		147		(93)		1,174
Total other comprehensive loss	(2,141)		(2,898)		(1,671)		(10,867)
Noncontrolling interests, net of tax	3		—		3		—
Balance – end of period, net of tax	(8,953)		(8,611)		(8,953)		(8,611)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(247)		(427)		(75)		(1,399)
Change in period, before tax	683		479		497		1,546
Income tax expense	(35)		(57)		(21)		(152)
Total other comprehensive income	648		422		476		1,394
Noncontrolling interests, net of tax	(3)		—		(3)		—
Balance – end of period, net of tax	404		(5)		404		(5)

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2023		2022		2023		2022
(in millions of U.S. dollars)			As Adjusted				As Adjusted
Accumulated other comprehensive income (loss) (AOCI) - continued
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(16)		(17)		(24)		(57)
Change in period, before and net of tax	(5)		8		3		48
Total other comprehensive income (loss)	(5)		8		3		48
Noncontrolling interests, net of tax	—		—		—		—
Balance – end of period, net of tax	(21)		(9)		(21)		(9)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,920)		(2,768)		(2,966)		(2,114)
Change in period, before reclassification from AOCI (before tax)	(314)		(942)		(269)		(1,631)
Amounts reclassified from AOCI (before tax)	(3)		—		(10)		—
Change in period, before tax	(317)		(942)		(279)		(1,631)
Income tax benefit	13		7		21		42
Total other comprehensive loss	(304)		(935)		(258)		(1,589)
Noncontrolling interests, net of tax	(76)		—		(76)		—
Balance – end of period, net of tax	(3,148)		(3,703)		(3,148)		(3,703)
Fair value hedging instruments
Balance – beginning of period, net of tax	(53)		—		(66)		—
Change in period, before reclassification from AOCI (before tax)	(17)		(94)		23		(94)
Amounts reclassified from AOCI (before tax)	55		32		32		32
Change in period, before tax	38		(62)		55		(62)
Income tax (expense) benefit	(7)		13		(11)		13
Total other comprehensive income (loss)	31		(49)		44		(49)
Noncontrolling interests, net of tax	—		—		—		—
Balance – end of period, net of tax	(22)		(49)		(22)		(49)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	223		259		225		240
Change in period, before tax	(1)		3		(3)		27
Income tax expense	—		(1)		—		(6)
Total other comprehensive income (loss)	(1)		2		(3)		21
Noncontrolling interests, net of tax	—		—		—		—
Balance – end of period, net of tax	222		261		222		261
Accumulated other comprehensive income (loss)	$	(11,518)	$	(12,116)	$	(11,518)	$	(12,116)

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)	2023		2022		2023		2022
Fixed maturities available for sale	$	(70)	$	(279)	$	(357)	$	(857)	Net realized gains (losses)
Income tax benefit	25		39		59		138		Income tax expense
	$	(45)	$	(240)	$	(298)	$	(719)	Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	3	$	—	$	10	$	—	Interest expense
Income tax expense	(1)		—		(2)		—		Income tax expense
	$	2	$	—	$	8	$	—	Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(51)	$	(32)	$	(20)	$	(32)	Net realized gains (losses)
Cross-currency swaps	(4)		—		(12)		—		Interest expense
Income tax benefit	12		7		7		7		Income tax expense
	$	(43)	$	(25)	$	(25)	$	(25)	Net income
Total amounts reclassified from AOCI	$	(86)	$	(265)	$	(315)	$	(744)