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Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of pre-tax and after-tax share-based compensation expense
The following table presents pre-tax and after-tax share-based compensation expense:
Year Ended December 31
(in millions of U.S. dollars)202320222021
Stock options and shares issued under ESPP:
Pre-tax$71 $60 $55 
After-tax (1)
$56 $38 $36 
Restricted stock:
Pre-tax$253 $230 $210 
After-tax (1)
$202 $179 $164 
(1)The windfall tax benefit recorded to Income tax expense in the Consolidated statement of operations was $19 million, $29 million, and $19 million for the years ended December 31, 2023, 2022, and 2021, respectively.
Schedule of the weighted-average model valuation assumptions
Year Ended December 31
202320222021
Dividend yield1.7 %1.7 %1.9 %
Expected volatility23.0 %20.1 %26.0 %
Risk-free interest rate4.1 %1.9 %1.0 %
Expected life5.7 years5.8 years5.8 years
Rollforward of the company's stock options
The following table presents a roll-forward of Chubb's stock options:
(Intrinsic Value in millions of U.S. dollars)Number of OptionsWeighted-Average Exercise PriceWeighted-Average Fair ValueTotal Intrinsic Value
Options outstanding, December 31, 202011,478,183 $125.09 
Granted1,805,234 $164.89 $33.05 
Exercised(2,284,795)$112.12 $140 
Forfeited and expired(236,135)$150.16 
Options outstanding, December 31, 202110,762,487 $133.94 
Granted1,731,904 $198.36 $35.46 
Exercised(1,878,147)$117.83 $163 
Forfeited and expired(205,966)$171.45 
Options outstanding, December 31, 202210,410,278 $146.81 
Granted1,540,002 $208.60 $51.32 
Exercised(1,249,350)$127.45 $107 
Forfeited and expired(220,046)$191.57 
Options outstanding, December 31, 202310,480,884 $157.24 $721 
Options exercisable, December 31, 20237,497,652 $141.08 $637 
Rollforward of the company's restricted stock
The following table presents a roll-forward of our restricted stock awards. Included in the roll-forward below are 12,994 restricted stock awards, 13,440 restricted stock awards, and 15,586 restricted stock awards that were granted to non-management directors during the years ended December 31, 2023, 2022, and 2021, respectively:
Service-based
Restricted Stock Awards
and Restricted Stock Units		Performance-based
Restricted Stock Awards
and Restricted Stock Units
Number of SharesWeighted-Average
Grant-Date Fair Value		Number of SharesWeighted-Average
Grant-Date Fair Value
Unvested restricted stock, December 31, 20203,263,295 $142.32 572,318 $142.38 
Granted1,288,042 $165.32 294,315 $164.75 
Vested(1,283,185)$140.62 (169,442)$143.07 
Forfeited(216,341)$150.19 — $— 
Unvested restricted stock, December 31, 20213,051,811 $152.19 697,191 $151.74 
Granted1,193,016 $199.18 296,944 $199.09 
Vested(1,191,452)$148.18 (199,343)$133.90 
Forfeited(199,505)$168.12 — $— 
Unvested restricted stock, December 31, 20222,853,870 $172.39 794,792 $173.83 
Granted1,166,706 $208.07 407,825 $208.60 
Vested(1,142,911)$161.88 (203,533)$150.11 
Forfeited(203,850)$186.58 — $— 
Unvested restricted stock, December 31, 20232,673,815 $191.35 999,084 $192.85