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Shareholders' equity note
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Shareholders' equity Shareholders’ equity
a) Common Shares
All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing the Consolidated Financial Statements. Under Swiss corporate law, we are generally prohibited from issuing Common Shares below their par value. If there were a need to raise common equity at a time when the trading price of Chubb's Common Shares is below par value, we would need in advance to obtain shareholder approval to decrease the par value of the Common Shares.

Dividend approval
At our May 2024 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.64 per share, expected to be paid in four quarterly installments of $0.91 per share after the annual general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board of Directors (Board) will determine the record and payment dates at which the annual dividend may be paid until the date of the 2025 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion. The first three quarterly installments each of $0.91 per share, have been distributed by the Board as expected.

At our May 2023 and 2022 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.44 per share and $3.32 per share, respectively, which were paid in four quarterly installments of $0.86 per share and $0.83 per share, respectively, at dates determined by the Board after the annual general meeting by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

Dividend distributions
Under Swiss corporate law, dividends must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. We issue dividends without subjecting them to withholding tax by way of distributions from capital contribution reserves and payment out of free reserves.

The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):
Year Ended December 31
202420232022
CHFUSDCHFUSDCHFUSD
Total dividend distributions per common share3.15 $3.59 3.05 $3.41 3.11 $3.29 

b) Shares issued, outstanding, authorized, and conditional
Year Ended December 31
202420232022
Common Shares authorized and issued, beginning of year431,451,586 446,376,614 474,021,114 
Cancellation of treasury shares(11,825,600)(14,925,028)(27,644,500)
Common Shares authorized and issued, end of year419,625,986 431,451,586 446,376,614 
Common Shares in treasury, beginning of year
(26,181,949)(31,781,758)(47,448,502)
Net shares issued under employee share-based compensation plans2,952,591 2,500,381 2,947,272 
Shares repurchased(7,518,565)(11,825,600)(14,925,028)
Cancellation of treasury shares11,825,600 14,925,028 27,644,500 
Common Shares in treasury, end of year
(18,922,323)(26,181,949)(31,781,758)
Common Shares outstanding, end of year400,703,663 405,269,637 414,594,856 

Increases in Common Shares in treasury are due to open market repurchases of Common Shares, the surrender of Common Shares to satisfy tax withholding obligations in connection with the vesting of restricted stock, and the forfeiture of unvested restricted stock. Decreases in Common Shares in treasury are principally due to grants of restricted stock, exercises of stock options, purchases under the Employee Stock Purchase Plan (ESPP), and share cancellations. At our May 2024 annual general meeting, our shareholders approved the cancellation of 11,825,600 shares purchased under our share repurchase programs
during 2023. The capital reduction was subject to publication requirements and became effective in accordance with Swiss law on May 21, 2024. At our May 2023 annual general meeting, our shareholders approved the cancellation of 14,925,028 shares purchased under our share repurchase programs during 2022. The capital reduction was subject to publication requirements and became effective in accordance with Swiss law on May 22, 2023. At our May 2022 annual general meeting, our shareholders approved the cancellation of 13,179,100 shares purchased under our share repurchase program during the last six months of 2021. The capital reduction by cancellation of shares was subject to publication requirements and a two-month waiting period in accordance with Swiss law and became effective on August 4, 2022. At the Chubb Limited Extraordinary General Meeting of Shareholders, held on November 3, 2021, shareholders approved the cancellation of 14,465,400 shares repurchased under our share repurchase program during the first six months of 2021. The capital reduction by cancellation of shares was subject to publication requirements and a two-month waiting period in accordance with Swiss law and became effective on January 17, 2022.

Capital band for share capital increases and reductions
In accordance with Swiss law, the Board has shareholder-approved authority as set forth in the Articles of Association to increase or decrease the share capital by up to 20 percent from time to time until May 16, 2025, within the upper limit of CHF 251,775,591.50, corresponding to 503,551,183 registered shares, each to be fully paid up, with a par value of CHF 0.50 each, and the lower limit of CHF 167,850,394.50, corresponding to 335,700,789 registered shares, each to be fully paid up, with a par value of CHF 0.50 each. Any such increases or decreases would be subject to Swiss law and procedures and the Articles of Association.

Conditional share capital for bonds and similar debt instruments
Chubb's share capital may be increased through the issuance of a maximum of 33,000,000 fully paid up Common Shares (with a par value of CHF 0.50 as of December 31, 2024) through the exercise of conversion and/or option or warrant rights granted in connection with bonds, notes, or similar instruments, issued or to be issued by Chubb, including convertible debt instruments.

Conditional share capital for employee benefit plans
Chubb's share capital may be increased through the issuance of a maximum of 25,410,929 fully paid up Common Shares (with a par value of CHF 0.50 as of December 31, 2024) in connection with the exercise of option rights granted to any employee of Chubb, director or other person providing services to Chubb.

c) Chubb Limited securities repurchases
From time to time, we repurchase shares as part of our capital management program and to partially offset potential dilution from the exercise of stock options and the granting of restricted stock under share-based compensation plans. The Board has authorized share repurchase programs as follows:

•One-time incremental share repurchase program of $5.0 billion of Chubb Common Shares from July 19, 2021 through June 30, 2022;
•$2.5 billion of Chubb Common Shares from May 19, 2022 through June 30, 2023; and
•$5.0 billion of Chubb Common Shares effective July 1, 2023 with no expiration date.

Share repurchases may be in the open market, in privately negotiated transactions, block trades, accelerated repurchases and through option or other forward transactions. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:
Year Ended December 31January 1, 2025 through
(in millions of U.S. dollars, except share data)202420232022February 26, 2025
Number of shares repurchased7,518,565 11,825,600 14,925,028 543,782 
Cost of shares repurchased$2,024 $2,478 $3,014 $148 

d) General restrictions
The holders of the Common Shares are entitled to receive dividends as approved by the shareholders. Holders of Common Shares are allowed one vote per share provided that, if the controlled shares of any shareholder constitute ten percent or more of the outstanding Common Shares of Chubb, only a fraction of the vote will be allowed so as not to exceed ten percent in aggregate. Entry of acquirers of Common Shares as shareholders with voting rights in the share register may be refused if it
would confer voting rights with respect to ten percent or more of the registered share capital recorded in the commercial register.

e) Accumulated other comprehensive income (loss)
The following table presents changes in accumulated other comprehensive income (loss):
Year Ended December 31
(in millions of U.S. dollars)202420232022
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of year, net of tax$(4,177)$(7,279)$2,256 
Change in year, before reclassification from AOCI (before tax)(553)2,948 (11,627)
Amounts reclassified from AOCI (before tax)302 500 1,049 
Change in year, before tax(251)3,448 (10,578)
Income tax (expense) benefit(110)(328)1,043 
Total other comprehensive income (loss)(361)3,120 (9,535)
Noncontrolling interests, net of tax14 18 — 
Balance – end of year, net of tax(4,552)(4,177)(7,279)
Current discount rate on liability for future policy benefits
Balance – beginning of year, net of tax51 (75)(1,399)
Change in year, before tax(701)84 1,480 
Income tax (expense) benefit8 16 (156)
Total other comprehensive income (loss)(693)100 1,324 
Noncontrolling interests, net of tax(103)(26)— 
Balance – end of year, net of tax(539)51 (75)
Instrument-specific credit risk on market risk benefits
Balance – beginning of year, net of tax(22)(24)(57)
Change in year, before tax7 2 33 
Income tax expense(1)— — 
Total other comprehensive income 6 2 33 
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax(16)(22)(24)
Cumulative foreign currency translation adjustment
Balance – beginning of year, net of tax(2,945)(2,966)(2,114)
Change in year, before reclassification from AOCI (before tax)(1,158)— (907)
Amounts reclassified from AOCI (before tax)(19)(13)(4)
Change in year, before tax(1,177)(13)(911)
Income tax benefit39 27 59 
Total other comprehensive income (loss)(1,138)14 (852)
Noncontrolling interests, net of tax(58)(7)— 
Balance – end of year, net of tax(4,025)(2,945)(2,966)
Year Ended December 31
(in millions of U.S. dollars)202420232022
Accumulated other comprehensive income (loss) (AOCI) - continued
Fair value hedging instruments
Balance – beginning of year, net of tax(13)(66)— 
Change in year, before reclassification from AOCI (before tax)(38)101 17 
Amounts reclassified from AOCI (before tax)118 (34)(100)
Change in year, before tax80 67 (83)
Income tax (expense) benefit(17)(14)17 
Total other comprehensive income (loss)63 53 (66)
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax50 (13)(66)
Postretirement benefit liability adjustment
Balance – beginning of year, net of tax297 225 240 
Change in year, before tax177 90 (17)
Income tax (expense) benefit(36)(18)2 
Total other comprehensive income (loss)141 72 (15)
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax438 297 225 
Accumulated other comprehensive loss$(8,644)$(6,809)$(10,185)

The following table presents reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:
Consolidated Statement of Operations Location
Year Ended December 31
(in millions of U.S. dollars)202420232022
Fixed maturities available-for-sale$(302)$(500)$(1,049)Net realized gains (losses)
Income tax benefit92 62 170 Income tax expense
$(210)$(438)$(879)Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps$19 $13 $4 
Interest expense
Income tax expense(4)(3)(1)Income tax expense
$15 $10 $3 Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps$(103)$50 $105 Net realized gains (losses)
Cross-currency swaps(15)(16)(5)
Interest expense
Income tax (expense) benefit25 (7)(21)Income tax expense
$(93)$27 $79 Net income
Total amounts reclassified from AOCI$(288)$(401)$(797)