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Unpaid losses and loss expenses, and Future policy benefits (Tables)
 6 Months Ended
Jun. 30, 2025
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]  
Schedule of Unpaid Losses And Loss Expenses Roll Forward [Table Text Block]
The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:
Six Months Ended
June 30
(in millions of U.S. dollars)20252024
Gross unpaid losses and loss expenses – beginning of period$84,004 $80,122 
Reinsurance recoverable on unpaid losses and loss expenses – beginning of period (1)
(17,734)(17,884)
Net unpaid losses and loss expenses – beginning of period66,270 62,238 
Net losses and loss expenses incurred in respect of losses occurring in:
Current year13,959 12,604 
Prior years (2)
(491)(446)
Total13,468 12,158 
Net losses and loss expenses paid in respect of losses occurring in:
Current year2,960 2,492 
Prior years8,982 6,918 
Total11,942 9,410 
Foreign currency revaluation and other889 (204)
Net unpaid losses and loss expenses – end of period68,685 64,782 
Reinsurance recoverable on unpaid losses and loss expenses (1)
17,691 17,409 
Gross unpaid losses and loss expenses – end of period$86,376 $82,191 
(1)    Net of valuation allowance for uncollectible reinsurance.
(2)    Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $(13) million and $47 million for the six months ended June 30, 2025 and 2024, respectively.
Prior Period Development, by Segment [Table Text Block] The following table summarizes (favorable) and adverse PPD by segment:
Three Months Ended June 30Six Months Ended June 30
(in millions of U.S. dollars)Long-tail    Short-tailTotalLong-tail    Short-tailTotal
2025
North America Commercial P&C Insurance$(75)$(31)$(106)$(27)$(193)$(220)
North America Personal P&C Insurance— (121)(121)— (121)(121)
North America Agricultural Insurance— — — — (33)(33)
Overseas General Insurance35 (112)(77)36 (234)(198)
Global Reinsurance— (15)(15)(5)(10)(15)
Corporate70 — 70 83 — 83 
Total$30 $(279)$(249)$87 $(591)$(504)
2024
North America Commercial P&C Insurance$(142)$(2)$(144)$(46)$(146)$(192)
North America Personal P&C Insurance— (64)(64)— (116)(116)
North America Agricultural Insurance— — — — (28)(28)
Overseas General Insurance36 (97)(61)35 (185)(150)
Global Reinsurance5 (21)(16)5 (20)(15)
Corporate93 — 93 102 — 102 
Total$(8)$(184)$(192)$96 $(495)$(399)
Liability for Future Policy Benefit, Activity
The following tables present a roll-forward of the liability for future policy benefits included in the Life Insurance segment:

Present Value of Expected Net PremiumsSix Months Ended June 30, 2025
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$1,523 $4,405 $11,626 $125 $17,679 
Beginning balance at original discount rate1,819 4,303 11,499 124 17,745 
Effect of changes in cash flow assumptions— (4)13 — 9 
Effect of actual variances from expected experience(4)18 (168)2 (152)
Adjusted beginning of period balance1,815 4,317 11,344 126 17,602 
Issuances116 719 1,107 311 2,253 
Interest accrual26 65 260 5 356 
Net premiums collected (1)
(122)(743)(755)(93)(1,713)
Other (including foreign exchange)59 134 459 4 656 
Ending balance at original discount rate1,894 4,492 12,415 353 19,154 
Effect of changes in discount rate assumptions(296)142 184 3 33 
Balance – end of period$1,598 $4,634 $12,599 $356 $19,187 
(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.
Present Value of Expected Future Policy BenefitsSix Months Ended June 30, 2025
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $2,238 $12,057 $15,693 $647 $30,635 
Beginning balance at original discount rate2,647 11,242 15,652 601 30,142 
Effect of changes in cash flow assumptions— (9)21 — 12 
Effect of actual variances from expected experience(1)18 (170)3 (150)
Adjusted beginning of period balance2,646 11,251 15,503 604 30,004 
Issuances116 719 1,107 311 2,253 
Interest accrual36 185 325 12 558 
Benefit payments(110)(154)(864)(10)(1,138)
Other (including foreign exchange)88 300 601 16 1,005 
Ending balance at original discount rate2,776 12,301 16,672 933 32,682 
Effect of changes in discount rate assumptions(432)1,106 109 59 842 
Balance – end of period$2,344 $13,407 $16,781 $992 $33,524 


Liability for Future Policy Benefits, Life Insurance SegmentJune 30, 2025
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$746 $8,773 $4,182 $636 $14,337 
Deferred profit liability306 1,539 219 68 2,132 
Net liability for future policy benefits, before reinsurance recoverable1,052 10,312 4,401 704 16,469 
Less: Reinsurance recoverable on future policy benefits107 46 121 1 275 
Net liability for future policy benefits, after reinsurance recoverable$945 $10,266 $4,280 $703 $16,194 
Weighted average duration (years)10.427.610.025.322.0
Present Value of Expected Net PremiumsSix Months Ended June 30, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $1,590 $3,950 $10,432 $64 $16,036 
Beginning balance at original discount rate1,992 3,945 10,692 64 16,693 
Effect of changes in cash flow assumptions6 70 111 — 187 
Effect of actual variances from expected experience(12)21 (129)(1)(121)
Adjusted beginning of period balance1,986 4,036 10,674 63 16,759 
Issuances111 620 1,196 39 1,966 
Interest accrual26 55 239 2 322 
Net premiums collected (1)
(122)(603)(729)(20)(1,474)
Other (including foreign exchange)(25)(77)(273)10 (365)
Ending balance at original discount rate1,976 4,031 11,107 94 17,208 
Effect of changes in discount rate assumptions(397)17 (162)— (542)
Balance – end of period$1,579 $4,048 $10,945 $94 $16,666 
(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.

Present Value of Expected Future Policy BenefitsSix Months Ended June 30, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$2,254 $10,063 $14,650 $495 $27,462 
Beginning balance at original discount rate2,749 9,991 15,071 492 28,303 
Effect of changes in cash flow assumptions8 85 102 — 195 
Effect of actual variances from expected experience(9)31 (129)— (107)
Adjusted beginning of period balance2,748 10,107 15,044 492 28,391 
Issuances111 620 1,196 39 1,966 
Interest accrual35 151 300 8 494 
Benefit payments(115)(179)(789)(10)(1,093)
Other (including foreign exchange)(3)(169)(356)9 (519)
Ending balance at original discount rate2,776 10,530 15,395 538 29,239 
Effect of changes in discount rate assumptions(512)129 (337)17 (703)
Balance – end of period$2,264 $10,659 $15,058 $555 $28,536 
Liability for Future Policy Benefits, Life Insurance SegmentJune 30, 2024
(in millions of U.S. dollars, except for years)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$685 $6,611 $4,113 $461 $11,870 
Deferred profit liability268 986 174 24 1,452 
Net liability for future policy benefits, before reinsurance recoverable953 7,597 4,287 485 13,322 
Less: Reinsurance recoverable on future policy benefits103 44 110 — 257 
Net liability for future policy benefits, after reinsurance recoverable$850 $7,553 $4,177 $485 $13,065 
Weighted average duration (years)10.225.010.016.319.1

The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.
June 30
(in millions of U.S. dollars)20252024
Net liability for future policy benefits, Life Insurance segment$14,337 $11,870 
Other (1)
1,549 1,341 
Deferred profit liability 2,132 1,452 
Liability for future policy benefits, per consolidated balance sheet$18,018 $14,663 
(1)Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.
The following table presents the amount of undiscounted and discounted expected gross premiums and expected future policy benefit payments included in the Life Insurance segment:
June 30June 30
(in millions of U.S. dollars)20252024
Term Life
Undiscounted expected future benefit payments$4,563 $4,334 
Undiscounted expected future gross premiums7,094 7,223 
Discounted expected future benefit payments2,344 2,264 
Discounted expected future gross premiums4,775 4,776 
Whole Life
Undiscounted expected future benefit payments30,751 25,052 
Undiscounted expected future gross premiums10,841 9,555 
Discounted expected future benefit payments13,407 10,659 
Discounted expected future gross premiums8,929 7,744 
A&H
Undiscounted expected future benefit payments28,274 26,037 
Undiscounted expected future gross premiums41,427 38,166 
Discounted expected future benefit payments16,781 15,058 
Discounted expected future gross premiums24,697 22,556 
Other
Undiscounted expected future benefit payments1,754 956 
Undiscounted expected future gross premiums570 174 
Discounted expected future benefit payments992 555 
Discounted expected future gross premiums$527 $155 

The following table presents the amount of revenue and interest recognized in the Consolidated statements of operations for the Life Insurance segment:
Gross Premiums or AssessmentsInterest Accretion
Six Months EndedSix Months Ended
June 30June 30
(in millions of U.S. dollars)2025202420252024
Life Insurance
Term Life$353 $337 $10 $9 
Whole Life1,250 1,008 120 96 
A&H1,509 1,525 65 61 
Other129 32 7 6 
Total$3,241 $2,902 $202 $172 
The following table presents the weighted-average interest rates for the Life Insurance segment:
Interest Accretion RateCurrent Discount Rate
June 30June 30
2025202420252024
Life Insurance
Term Life3.0 %2.9 %5.9 %5.7 %
Whole Life3.4 %3.2 %3.9 %4.6 %
A&H4.0 %3.7 %5.8 %6.3 %
Other3.2 %2.7 %3.3 %4.2 %