Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

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				April 1,2024 through April 25, 2024
	March 31
(in millions of U.S. dollars, except share data)	2024		2023
Number of shares repurchased	1,220,121		2,010,400		250,000
Cost of shares repurchased	$	316	$	428	$	62
Repurchase authorization remaining at end of period	$	3,373	$	1,193	$	3,312

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss):

	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(4,177)	$	(7,279)
Change in period, before reclassification from AOCI (before tax)	(796)		1,606
Amounts reclassified from AOCI (before tax)	119		180
Change in period, before tax	(677)		1,786
Income tax (expense) benefit	42		(166)
Total other comprehensive income (loss)	(635)		1,620
Noncontrolling interests, net of tax	13		—
Balance – end of period, net of tax	(4,825)		(5,659)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	51		(75)
Change in period, before tax	(53)		(151)
Income tax (expense) benefit	(20)		21
Total other comprehensive loss	(73)		(130)
Noncontrolling interests, net of tax	(33)		—
Balance – end of period, net of tax	11		(205)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(22)		(24)
Change in period, before and net of tax	5		(3)
Total other comprehensive income (loss)	5		(3)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	(17)		(27)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,945)		(2,966)
Change in period, before reclassification from AOCI (before tax)	83		(174)
Amounts reclassified from AOCI (before tax)	(3)		(3)
Change in period, before tax	80		(177)
Income tax (expense) benefit	(7)		7
Total other comprehensive income (loss)	73		(170)
Noncontrolling interests, net of tax	(8)		—
Balance – end of period, net of tax	(2,864)		(3,136)

	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Accumulated other comprehensive income (loss) (AOCI) - continued
Fair value hedging instruments
Balance – beginning of period, net of tax	(13)		(66)
Change in period, before reclassification from AOCI (before tax)	(8)		(17)
Amounts reclassified from AOCI (before tax)	41		(16)
Change in period, before tax	33		(33)
Income tax (expense) benefit	(7)		7
Total other comprehensive income (loss)	26		(26)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	13		(92)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	297		225
Change in period, before tax	(2)		—
Income tax (expense) benefit	1		(1)
Total other comprehensive loss	(1)		(1)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	296		224
Accumulated other comprehensive loss	$	(7,386)	$	(8,895)

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				Consolidated Statement of Operations Location
	March 31
(in millions of U.S. dollars)	2024		2023
Fixed maturities available-for-sale	$	(119)	$	(180)	Net realized gains (losses)
Income tax benefit	12		18		Income tax expense
	$	(107)	$	(162)	Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	3	$	3	Interest expense
Income tax expense	(1)		(1)		Income tax expense
	$	2	$	2	Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(37)	$	20	Net realized gains (losses)
Cross-currency swaps	(4)		(4)		Interest expense
Income tax (expense) benefit	9		(3)		Income tax expense
	$	(32)	$	13	Net income
Total amounts reclassified from AOCI	$	(137)	$	(147)