Related party transactions (Tables)

12 Months Ended

Dec. 31, 2023

Transactions generated under ABR Re agreements were as follows:


	Year Ended December 31
(in millions of U.S. dollars)	2023		2022		2021
Consolidated statements of operations
Ceded premiums written	$	441	$	507	$	442
Commissions received	$	119	$	138	$	133

Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses	$	1,241	$	1,050
Ceded reinsurance premium payable	$	40	$	110

Aquiline Capital Partners LLC

Chubb invests in private investment funds managed by Aquiline Capital Partners LLC (collectively, Aquiline Funds), of which its chief executive officer is related to a member of our senior management team. We have more than a three percent ownership interest in these funds and therefore account for them under the equity method of accounting. At December 31, 2023, Chubb has approximately $182 million of future contribution commitments to Aquiline Funds. Transactions generated from investments in Aquiline Funds are as follows:


	Year Ended December 31
(in millions of U.S. dollars)	2023		2022		2021
Consolidated statements of operations
Other income (expense)	$	36	$	8	$	68
Consolidated balance sheets
Private equities	$	368	$	271

Starr Indemnity & Liability Company and its affiliates (collectively, Starr)

We had previously entered into agency, claims services, and underwriting services with Starr, the Chairman of which is related to a member of our senior management team. The Board has reviewed and approved these arrangements with Starr. A number of our agreements with Starr were terminated effective as of April 2023. However, Starr continues to provide certain services to Chubb, including claims administration, in respect of insurance policies placed prior to the termination, pursuant to the terms of the applicable agreements. Under the agency agreement, we secured the ability to sell our insurance policies through Starr as one of our non-exclusive agents for writing policies, contracts, binders, or agreements of insurance or reinsurance. Under the claims services agreements, Starr adjusts the claims under policies and arranged for third party treaty and facultative agreements covering such policies. Under the underwriting services agreements, Starr was the underwriter of insurance policies on our behalf and we agreed to reinsure such policies to Starr under quota share reinsurance agreements. Transactions generated under Starr agreements were as follows:


	Year Ended December 31
(in millions of U.S. dollars)	2023		2022		2021
Consolidated statement of operations
Gross premiums written	$	216	$	618	$	592
Ceded premiums written	$	115	$	353	$	321
Commissions paid	$	38	$	122	$	114
Commissions received	$	26	$	79	$	73
Losses and loss expenses	$	180	$	225	$	157
Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses	$	503	$	541
Ceded reinsurance premium payable	$	44	$	96