Reinsurance (Tables)

12 Months Ended

Dec. 31, 2023

Reinsurance Disclosures [Abstract]

Schedule of direct, assumed and ceded premiums

The following table presents direct, assumed, and ceded premiums:

	Year Ended December 31
(in millions of U.S. dollars)	2023		2022		2021
Premiums written
Direct	$	52,969	$	47,511	$	42,811
Assumed	4,557		4,467		3,928
Ceded	(10,165)		(10,258)		(8,912)
Net	$	47,361	$	41,720	$	37,827
Premiums earned
Direct	$	51,582	$	46,160	$	41,116
Assumed	4,289		4,395		3,609
Ceded	(10,159)		(10,195)		(8,433)
Net	$	45,712	$	40,360	$	36,292

Schedule of Reinsurance Recoverable on Ceded Insurance

Reinsurance recoverable on ceded reinsurance

	December 31, 2023				December 31, 2022
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	17,884	$	285	$	17,086	$	289
Reinsurance recoverable on paid losses and loss expenses	2,068		82		1,773		62
Reinsurance recoverable on losses and loss expenses	$	19,952	$	367	$	18,859	$	351
Reinsurance recoverable on policy benefits	$	280	$	—	$	302	$	4

(1)     Net of valuation allowance for uncollectible reinsurance.

Reinsurance Recoverable, Allowance for Credit Loss

The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on loss and loss expenses:

	Year Ended December 31
(in millions of U.S. dollars)	2023		2022
Valuation allowance for uncollectible reinsurance - beginning of period	$	351	$	329
Provision for uncollectible reinsurance	47		43
Write-offs charged against the valuation allowance	(32)		(19)
Foreign exchange revaluation	1		(2)
Valuation allowance for uncollectible reinsurance - end of period	$	367	$	351

Reinsurance Recoverable, Credit Quality Indicator

The following tables present a listing, at December 31, 2023, of the categories of Chubb's reinsurers:

December 31, 2023	Gross Reinsurance Recoverable on Losses and Loss Expenses		Valuation allowance for Uncollectible Reinsurance		% of Gross Reinsurance Recoverable
(in millions of U.S. dollars, except for percentages)
Categories
Largest reinsurers	$	10,993	$	117	1.1	%
Other reinsurers rated A- or better	4,898		57		1.2	%
Other reinsurers rated lower than A- or not rated	455		56		12.3	%
Pools	441		14		3.2	%
Structured settlements	493		11		2.2	%
Captives	2,653		16		0.6	%
Other	386		96		24.9	%
Total	$	20,319	$	367	1.8	%