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Unpaid losses and loss expenses, and Future policy benefits (Tables)
 3 Months Ended
Mar. 31, 2026
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:
Three Months Ended
March 31
(in millions of U.S. dollars)20262025
Gross unpaid losses and loss expenses – beginning of period$88,018 $84,004 
Reinsurance recoverable on unpaid losses and loss expenses – beginning of period (1)
(18,346)(17,734)
Net unpaid losses and loss expenses – beginning of period69,672 66,270 
Net losses and loss expenses incurred in respect of losses occurring in:
Current year6,419 7,133 
Prior years (2)
(288)(237)
Total6,131 6,896 
Net losses and loss expenses paid in respect of losses occurring in:
Current year1,191 1,305 
Prior years4,140 4,699 
Total5,331 6,004 
Foreign currency revaluation and other190 228 
Net unpaid losses and loss expenses – end of period70,662 67,390 
Reinsurance recoverable on unpaid losses and loss expenses (1)
18,253 18,081 
Gross unpaid losses and loss expenses – end of period$88,915 $85,471 
(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 $2 million and $(18) million for the three months ended March 31, 2026 and 2025, respectively.
Prior Period Development, by Segment [Table Text Block] The following table summarizes (favorable) and adverse PPD by segment:
Three Months Ended March 31
(in millions of U.S. dollars)Long-tail    Short-tailTotal
2026
North America Commercial P&C Insurance$21 $(110)$(89)
North America Personal P&C Insurance— (1)(1)
North America Agricultural Insurance— (80)(80)
Overseas General Insurance— (131)(131)
Global Reinsurance— — — 
Corporate15 — 15 
Total$36 $(322)$(286)
2025
North America Commercial P&C Insurance$49 $(163)$(114)
North America Personal P&C Insurance— — — 
North America Agricultural Insurance— (33)(33)
Overseas General Insurance1 (122)(121)
Global Reinsurance(5)5 — 
Corporate13 — 13 
Total$58 $(313)$(255)
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 PremiumsThree Months Ended March 31, 2026
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$1,544 $4,749 $11,688 $426 $18,407 
Beginning balance at original discount rate1,814 4,616 11,665 423 18,518 
Effect of changes in cash flow assumptions— — — — — 
Effect of actual variances from expected experience2 53 (187)4 (128)
Adjusted beginning of period balance1,816 4,669 11,478 427 18,390 
Issuances70 495 609 234 1,408 
Interest accrual15 36 138 3 192 
Net premiums collected (1)
(62)(565)(390)(122)(1,139)
Other (including foreign exchange)10 27 87 8 132 
Ending balance at original discount rate1,849 4,662 11,922 550 18,983 
Effect of changes in discount rate assumptions(282)81 (250)2 (449)
Balance – end of period$1,567 $4,743 $11,672 $552 $18,534 
(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 BenefitsThree Months Ended March 31, 2026
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $2,313 $13,791 $15,587 $1,084 $32,775 
Beginning balance at original discount rate2,715 13,133 15,645 1,058 32,551 
Effect of changes in cash flow assumptions— — — — — 
Effect of actual variances from expected experience9 55 (194)4 (126)
Adjusted beginning of period balance2,724 13,188 15,451 1,062 32,425 
Issuances70 495 609 234 1,408 
Interest accrual21 112 170 8 311 
Benefit payments(56)(87)(422)(7)(572)
Other (including foreign exchange)8 123 63 21 215 
Ending balance at original discount rate2,767 13,831 15,871 1,318 33,787 
Effect of changes in discount rate assumptions(436)336 (400)2 (498)
Balance – end of period$2,331 $14,167 $15,471 $1,320 $33,289 
Liability for Future Policy BenefitsMarch 31, 2026
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$764 $9,424 $3,799 $768 $14,755 
Deferred profit liability323 2,210 243 128 2,904 
Net liability for future policy benefits, before reinsurance recoverable1,087 11,634 4,042 896 17,659 
Less: Reinsurance recoverable on future policy benefits110 48 125 1 284 
Net liability for future policy benefits, after reinsurance recoverable$977 $11,586 $3,917 $895 $17,375 
Weighted average duration (years)11.125.810.027.221.4


Present Value of Expected Net PremiumsThree Months Ended March 31, 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)(5)— (9)
Effect of actual variances from expected experience7 23 (93)— (63)
Adjusted beginning of period balance1,826 4,322 11,401 124 17,673 
Issuances65 288 599 208 1,160 
Interest accrual14 32 133 2 181 
Net premiums collected (1)
(59)(311)(370)(61)(801)
Other (including foreign exchange)(6)(19)(86)2 (109)
Ending balance at original discount rate1,840 4,312 11,677 275 18,104 
Effect of changes in discount rate assumptions(295)111 212 1 29 
Balance – end of period$1,545 $4,423 $11,889 $276 $18,133 
(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 BenefitsThree Months Ended March 31, 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— (10)2 — (8)
Effect of actual variances from expected experience10 24 (95)— (61)
Adjusted beginning of period balance2,657 11,256 15,559 601 30,073 
Issuances65 288 599 208 1,160 
Interest accrual19 90 165 6 280 
Benefit payments(51)(78)(421)(6)(556)
Other (including foreign exchange)(6)(32)(127)3 (162)
Ending balance at original discount rate2,684 11,524 15,775 812 30,795 
Effect of changes in discount rate assumptions(416)905 155 45 689 
Balance – end of period$2,268 $12,429 $15,930 $857 $31,484 


Liability for Future Policy BenefitsMarch 31, 2025
(in millions of U.S. dollars, except for years)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$723 $8,006 $4,041 $581 $13,351 
Deferred profit liability291 1,351 202 64 1,908 
Net liability for future policy benefits, before reinsurance recoverable1,014 9,357 4,243 645 15,259 
Less: Reinsurance recoverable on future policy benefits108 45 114 — 267 
Net liability for future policy benefits, after reinsurance recoverable$906 $9,312 $4,129 $645 $14,992 
Weighted average duration (years)10.527.99.923.521.8

The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.
March 31
(in millions of U.S. dollars)20262025
Net liability for future policy benefits$14,755 $13,351 
Other (1)
1,614 1,431 
Deferred profit liability 2,904 1,908 
Liability for future policy benefits, per consolidated balance sheet$19,273 $16,690 
(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:
March 31March 31
(in millions of U.S. dollars)20262025
Term Life
Undiscounted expected future benefit payments$4,636 $4,266 
Undiscounted expected future gross premiums6,838 6,595 
Discounted expected future benefit payments2,331 2,268 
Discounted expected future gross premiums4,609 4,460 
Whole Life
Undiscounted expected future benefit payments33,780 29,099 
Undiscounted expected future gross premiums11,052 10,390 
Discounted expected future benefit payments14,167 12,429 
Discounted expected future gross premiums9,213 8,518 
A&H
Undiscounted expected future benefit payments26,758 26,695 
Undiscounted expected future gross premiums39,618 39,108 
Discounted expected future benefit payments15,471 15,930 
Discounted expected future gross premiums23,867 23,346 
Other
Undiscounted expected future benefit payments2,530 1,556 
Undiscounted expected future gross premiums851 478 
Discounted expected future benefit payments1,320 857 
Discounted expected future gross premiums798 437 


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
Three Months EndedThree Months Ended
March 31March 31
(in millions of U.S. dollars)2026202520262025
Term Life$186 $170 $6 $5 
Whole Life954 563 76 58 
A&H802 752 32 32 
Other176 89 5 4 
Total$2,118 $1,574 $119 $99 
The following table presents the weighted-average interest rates for the Life Insurance segment:
Interest Accretion RateCurrent Discount Rate
March 31March 31
2026202520262025
Term Life3.2 %3.0 %6.1 %5.6 %
Whole Life3.6 %3.5 %4.4 %4.0 %
A&H4.3 %4.1 %6.1 %5.7 %
Other3.3 %3.2 %3.7 %3.6 %