Segment information (Tables)

3 Months Ended

Mar. 31, 2026

The following tables present the Statement of Operations by segment:


For the Three Months Ended March 31, 2026 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Total
Net premiums written	$	4,895	$	1,681	$	311	$	4,466	$	363	$	2,289	$	14,005
Net premiums earned	5,148		1,746		189		3,780		326		2,268		13,457
Losses and loss expenses	3,220		1,034		53		1,652		137		28
Policy benefits	—		—		—		113		—		1,700
Policy acquisition costs	752		347		24		1,009		102		362
Administrative expenses	354		85		(6)		387		9		210
Underwriting income	822		280		118		619		78		NM
Net investment income	971		137		26		300		108		305
Other (income) expense	14		3		—		6		—		(51)
Amortization of purchased intangibles	1		2		6		22		—		8
Segment income	$	1,778	$	412	$	138	$	891	$	186	$	316	$	3,721
Net realized gains (losses)													(407)
Market risk benefits gains (losses)													14
Interest expense													198
Integration expenses and severance													9
Corporate underwriting loss													(125)
Corporate net investment loss													(11)
Corporate other (income) expense													(18)
Corporate amortization of purchased intangibles													34
Other reclassification													24
Income before income tax													$	2,993

NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.


For the Three Months Ended March 31, 2025 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Total
Net premiums written	$	4,787	$	1,552	$	276	$	3,903	$	408	$	1,720	$	12,646
Net premiums earned	4,988		1,574		165		3,209		368		1,696		12,000
Losses and loss expenses	3,031		2,093		92		1,397		242		26
Policy benefits	—		—		—		113		—		1,163
Policy acquisition costs	719		330		17		837		100		310
Administrative expenses	344		87		2		330		10		202
Underwriting income (loss)	894		(936)		54		532		16		NM
Net investment income	929		120		24		281		70		271
Other (income) expense	8		1		1		6		—		(35)
Amortization of purchased intangibles	1		2		6		19		—		10
Segment income (loss)	$	1,814	$	(819)	$	71	$	788	$	86	$	291	$	2,231
Net realized gains (losses)													(116)
Market risk benefits gains (losses)													(92)
Interest expense													181

Corporate underwriting loss													(119)
Corporate net investment loss													(27)
Corporate other (income) expense													33
Corporate amortization of purchased intangibles													37
Other reclassification													38
Income before income tax													$	1,664

NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.