Consolidated Balance Sheets (Parenthetical) $ in Millions |
Dec. 31, 2019
USD ($)
shares
|
Dec. 31, 2019
SFr / shares
|
Dec. 31, 2018
USD ($)
shares
|
Dec. 31, 2018
SFr / shares
|
Dec. 31, 2017
shares
|
Dec. 31, 2016
shares
|
|---|---|---|---|---|---|---|
| Statement of Financial Position [Abstract] | ||||||
| Fixed maturities available for sale, at amortized cost | $ | $ 82,580 | $ 79,323 | ||||
| Debt Securities, Held-to-maturity, Fair Value | $ | $ 13,005 | $ 13,259 | ||||
| Common Shares, par value | SFr / shares | SFr 24.15 | SFr 24.15 | ||||
| Common Shares, shares issued | 479,783,864 | 479,783,864 | 479,783,864 | 479,783,864 | ||
| Common Shares, shares outstanding | 451,971,567 | 459,203,378 | 463,833,179 | |||
| Common Shares in treasury, shares | 27,812,297 | 20,580,486 | 15,950,685 | 13,815,148 |
Consolidated Statements Of Operations and Comprehensive Income - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Revenues | |||
| Net premiums written | $ 32,275 | $ 30,579 | $ 29,244 |
| Increase in unearned premiums | (985) | (515) | (210) |
| Net premiums earned | 31,290 | 30,064 | 29,034 |
| Net investment income | 3,426 | 3,305 | 3,125 |
| Net realized gains (losses): | |||
| Other-than-temporary impairment (OTTI) losses gross | (90) | (52) | (46) |
| Portion of OTTI losses recognized in other comprehensive income (OCI) | 32 | 3 | 1 |
| Net OTTI losses recognized in income | (58) | (49) | (45) |
| Net realized, Gain (Loss), Excluding Other-than-temporary Impairment Loss | (472) | (603) | 129 |
| Total net realized gains (losses) (includes $(31), $(302), and $(15) reclassified from AOCI) | (530) | (652) | 84 |
| Total revenues | 34,186 | 32,717 | 32,243 |
| Expenses | |||
| Losses and loss expenses | 18,730 | 18,067 | 18,454 |
| Policy benefits | 740 | 590 | 676 |
| Policy Acquisition Costs | 6,153 | 5,912 | 5,781 |
| Administrative expenses | 3,030 | 2,886 | 2,833 |
| Interest expense | 552 | 641 | 607 |
| Other (income) expense | (596) | (434) | (400) |
| Amortization of Purchased Intangibles | 305 | 339 | 260 |
| Chubb integration expenses | 23 | 59 | 310 |
| Total expenses | 28,937 | 28,060 | 28,521 |
| Income before income tax | 5,249 | 4,657 | 3,722 |
| Income tax expense (benefit) (includes nil, $(41), and $(13) on reclassified unrealized gains and losses) | 795 | 695 | (139) |
| Net income | 4,454 | 3,962 | 3,861 |
| Other comprehensive income (loss) | |||
| Unrealized appreciation (depreciation) | 3,704 | (2,298) | 618 |
| Reclassification adjustment for net realized (gains) losses included in net income | 31 | 302 | 15 |
| Other comprehensive income (loss) after reclassification for net realized gains included in net income | 3,735 | (1,996) | 633 |
| Change in: | |||
| Cumulative foreign currency translation adjustment | 13 | (802) | 471 |
| Postretirement benefit liability adjustment | (76) | (321) | (16) |
| Other comprehensive income (loss), before income tax | 3,672 | (3,119) | 1,088 |
| Income tax (expense) benefit related to OCI items | (605) | 399 | (231) |
| Other comprehensive income (loss) | 3,067 | (2,720) | 857 |
| Comprehensive income | $ 7,521 | $ 1,242 | $ 4,718 |
| Earnings per share | |||
| Basic earnings per share | $ 9.77 | $ 8.55 | $ 8.26 |
| Diluted earnings per share | $ 9.71 | $ 8.49 | $ 8.19 |
Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Income tax expense (benefit) | $ 0 | $ 41 | $ 13 |
| Reclassification out of Accumulated Other Comprehensive Income [Member] | Net unrealized appreciation on investments | |||
| Net realized gains (losses) | (31) | (302) | (15) |
| Income tax expense (benefit) | $ 0 | $ (41) | $ (13) |
Consolidated Statements Of Shareholders' Equity - USD ($) $ in Millions |
Total |
Common Shares |
Common Shares in Treasury |
Additional Paid-in Capital |
Retained Earnings |
Net unrealized appreciation on investments |
Cumulative Translation Adjustment |
Accumulated Defined Benefit Plans Adjustment [Member] |
Accumulated Other Comprehensive Income |
|---|---|---|---|---|---|---|---|---|---|
| Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | $ 0 | |||||||
| Balance – beginning and end of year at Dec. 31, 2016 | $ 11,121 | $ (1,480) | $ 15,335 | 23,613 | 1,058 | $ (1,663) | $ 291 | ||
| Common Shares repurchased | (830) | ||||||||
| Net shares redeemed under employee share-based compensation plans | 366 | (313) | |||||||
| Stock Issued During Period, Value, Stock Options Exercised | (58) | ||||||||
| Share-based compensation expense | 331 | ||||||||
| FundingDividendsDeclaredToRetainedEarnings | (1,317) | ||||||||
| Net income | $ 3,861 | 3,861 | |||||||
| Funding Dividends Declared From Additional Paid In Capital | 1,317 | ||||||||
| Dividends declared on Common Shares | (1,317) | ||||||||
| Change in year, before reclassification from AOCI, net of income tax (expense) benefit of $(647), $338, and $(228) | 390 | ||||||||
| Amounts reclassified from AOCI, net of income tax (expense) benefit of nil, $(41), and $(13) | 2 | ||||||||
| Change in year, net of income tax (expense) benefit of $(647), $297, and $(241) | 392 | ||||||||
| Change in year, net of income tax benefit of $24, $35, and $5 | 476 | ||||||||
| Change in year, net of income tax benefit of $18, $67, and $5 | (11) | ||||||||
| Balance – Ending of year at Dec. 31, 2017 | 51,172 | 11,121 | (1,944) | 13,978 | 27,738 | 1,154 | (1,209) | 327 | $ 543 |
| Balance – Ending of year (Previous Accounting Guidance [Member]) at Dec. 31, 2017 | 27,474 | 1,450 | (1,187) | 280 | |||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | 264 | (296) | |||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2018-02 [Member] | 0 | 0 | |||||||
| Common Shares repurchased | (1,021) | ||||||||
| Net shares redeemed under employee share-based compensation plans | 347 | (313) | |||||||
| Stock Issued During Period, Value, Stock Options Exercised | (49) | ||||||||
| Share-based compensation expense | 285 | ||||||||
| FundingDividendsDeclaredToRetainedEarnings | (1,344) | ||||||||
| Net income | 3,962 | 3,962 | |||||||
| Funding Dividends Declared From Additional Paid In Capital | 1,344 | ||||||||
| Dividends declared on Common Shares | (1,344) | ||||||||
| Change in year, before reclassification from AOCI, net of income tax (expense) benefit of $(647), $338, and $(228) | (1,960) | ||||||||
| Amounts reclassified from AOCI, net of income tax (expense) benefit of nil, $(41), and $(13) | 261 | ||||||||
| Change in year, net of income tax (expense) benefit of $(647), $297, and $(241) | (1,699) | ||||||||
| Change in year, net of income tax benefit of $24, $35, and $5 | (767) | ||||||||
| Change in year, net of income tax benefit of $18, $67, and $5 | (254) | ||||||||
| Balance – Ending of year at Dec. 31, 2018 | 50,312 | 11,121 | (2,618) | 12,557 | 31,688 | (545) | (1,976) | 73 | (2,448) |
| Balance – Ending of year (Previous Accounting Guidance [Member]) at Dec. 31, 2018 | 31,700 | (545) | (1,976) | 73 | |||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | (12) | ||||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2018-02 [Member] | (22) | 47 | |||||||
| Common Shares repurchased | (1,531) | ||||||||
| Net shares redeemed under employee share-based compensation plans | 395 | (178) | |||||||
| Stock Issued During Period, Value, Stock Options Exercised | (82) | ||||||||
| Share-based compensation expense | 266 | ||||||||
| FundingDividendsDeclaredToRetainedEarnings | (1,360) | ||||||||
| Net income | 4,454 | 4,454 | |||||||
| Funding Dividends Declared From Additional Paid In Capital | 1,360 | ||||||||
| Dividends declared on Common Shares | (1,360) | ||||||||
| Change in year, before reclassification from AOCI, net of income tax (expense) benefit of $(647), $338, and $(228) | 3,057 | ||||||||
| Amounts reclassified from AOCI, net of income tax (expense) benefit of nil, $(41), and $(13) | 31 | ||||||||
| Change in year, net of income tax (expense) benefit of $(647), $297, and $(241) | 3,088 | ||||||||
| Change in year, net of income tax benefit of $24, $35, and $5 | 37 | ||||||||
| Change in year, net of income tax benefit of $18, $67, and $5 | (58) | ||||||||
| Balance – Ending of year at Dec. 31, 2019 | $ 55,331 | $ 11,121 | $ (3,754) | $ 11,203 | $ 36,142 | 2,543 | (1,939) | 15 | $ 619 |
| Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | ||||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2018-02 [Member] | $ 0 | $ 0 |
Consolidated Statements Of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Other Comprehensive Income (Loss), Available-for-sale Securities, before Reclassification Adjustments, Tax | $ (647) | $ 338 | $ (228) |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 0 | (41) | (13) |
| Net unrealized appreciation on investments, Change in year, income tax (expense) benefit | (647) | 297 | (241) |
| Cumulative translation adjustment, Change in year, income tax(expense) benefit | 24 | 35 | 5 |
| Pension liability adjustment, Change in year, income tax (expense) benefit | 18 | 67 | 5 |
| Stockholders' Equity Attributable to Parent | 55,331 | 50,312 | 51,172 |
| Common shares | |||
| Stockholders' Equity Attributable to Parent | $ 11,121 | $ 11,121 | $ 11,121 |
Consolidated Statements Of Cash Flows - USD ($) $ in Millions |
12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
||||||||||
| Cash flows from operating activities | ||||||||||||
| Net income | $ 4,454 | $ 3,962 | $ 3,861 | |||||||||
| Adjustments to reconcile net income to net cash flows from operating activities | ||||||||||||
| Net Realized Gains Losses | 530 | 652 | (84) | |||||||||
| Amortization of premiums/discounts on fixed maturities | 395 | 592 | 694 | |||||||||
| Amortization of purchased intangibles | 305 | 339 | 260 | |||||||||
| Deferred income taxes | (97) | 16 | (527) | |||||||||
| Unpaid losses and loss expenses | (257) | 570 | 2,137 | |||||||||
| Unearned premiums | 1,051 | 654 | 264 | |||||||||
| Future policy benefits | 215 | 235 | 217 | |||||||||
| Insurance and reinsurance balances payable | (302) | 722 | 271 | |||||||||
| Accounts payable, accrued expenses, and other liabilities | (207) | 375 | (517) | |||||||||
| Income taxes payable | (7) | 161 | (365) | |||||||||
| Insurance and reinsurance balances receivable | (270) | (981) | (243) | |||||||||
| Reinsurance recoverable | 838 | (1,165) | (1,248) | |||||||||
| Deferred policy acquisition costs | (344) | (301) | (317) | |||||||||
| Other | 38 | (351) | 100 | |||||||||
| Net cash flows from operating activities | 6,342 | 5,480 | 4,503 | |||||||||
| Cash flows from investing activities | ||||||||||||
| Purchases of fixed maturities available for sale | (25,846) | (24,700) | (25,720) | |||||||||
| Purchases of to be announced mortgage-backed securities | 0 | (35) | (27) | |||||||||
| Purchases of fixed maturities held to maturity | (229) | (456) | (352) | |||||||||
| Purchases of equity securities | (531) | (207) | (173) | |||||||||
| Sales of fixed maturities available for sale | 13,110 | 14,001 | 13,228 | |||||||||
| Sales of to be announced mortgage-backed securities | 6 | 29 | 27 | |||||||||
| Sales of equity securities | 611 | 315 | 187 | |||||||||
| Maturities and redemptions of fixed maturities available for sale | 9,039 | 7,352 | 10,425 | |||||||||
| Maturities and redemptions of fixed maturities held to maturity | 946 | 1,124 | 879 | |||||||||
| Net change in short-term investments | (1,117) | 516 | (537) | |||||||||
| Net derivative instruments settlements | (703) | 16 | (265) | |||||||||
| Private equity contributions | (1,315) | (1,337) | (648) | |||||||||
| Private equity distributions | 1,390 | 980 | 1,084 | |||||||||
| Acquisition of subsidiaries (net of cash acquired of $45, nil, and nil) | (29) | 0 | 0 | |||||||||
| Other | (1,237) | (533) | (530) | |||||||||
| Net Cash Provided by (Used in) Investing Activities | (5,905) | (2,935) | (2,422) | |||||||||
| Cash flows from financing activities | ||||||||||||
| Dividends paid on Common Shares | (1,354) | (1,337) | (1,308) | |||||||||
| Common Shares repurchased | (1,530) | (1,044) | (801) | |||||||||
| Proceeds from issuance of long-term debt | 2,828 | 2,171 | 0 | |||||||||
| Proceeds from issuance of repurchase agreements | 2,817 | 2,029 | 2,353 | |||||||||
| Repayments of Long-term Debt | (510) | (2,001) | (501) | |||||||||
| Repayment of repurchase agreements | (2,817) | (2,019) | (2,348) | |||||||||
| Proceeds from share-based compensation plans | 204 | 115 | 151 | |||||||||
| Policyholder contract deposits | 514 | 453 | 442 | |||||||||
| Policyholder contract withdrawals | (303) | (358) | (307) | |||||||||
| Net cash flows (used for) from financing activities | (151) | (1,991) | (2,319) | |||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 20 | (65) | 1 | |||||||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 306 | 489 | (237) | |||||||||
| Cash and restricted cash - beginning of year | 1,340 | [1],[2] | 851 | [2],[3] | 1,088 | [3] | ||||||
| Cash and restricted cash - end of year | [2] | 1,646 | 1,340 | [1] | 851 | [3] | ||||||
| Supplemental cash flow information | ||||||||||||
| Taxes paid | 912 | 503 | 736 | |||||||||
| Interest paid | $ 512 | $ 621 | $ 644 | |||||||||
| ||||||||||||
Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Statement of Cash Flows [Abstract] | |||
| Cash Acquired from Acquisition | $ 45 | $ 0 | $ 0 |
Summary of significant accounting policies |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of significant accounting policies | Summary of significant accounting policies a) Basis of presentation Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 15 for additional information. The accompanying consolidated financial statements, which include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, including internal reinsurance transactions, have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Amounts included in the Consolidated financial statements reflect our best estimates and assumptions; actual amounts could differ materially from these estimates. Chubb's principal estimates include:
b) Premiums Premiums are generally recorded as written upon inception of the policy. For multi-year policies for which premiums written are payable in annual installments, only the current annual premium is included as written at policy inception due to the ability of the insured/reinsured to commute or cancel coverage within the policy term. The remaining annual premiums are recorded as written at each successive anniversary date within the multi-year term. For property and casualty (P&C) insurance and reinsurance products, premiums written are primarily earned on a pro-rata basis over the policy terms to which they relate. Unearned premiums represent the portion of premiums written applicable to the unexpired portion of the policies in force. For retrospectively-rated policies, written premiums are adjusted to reflect expected ultimate premiums consistent with changes to incurred losses, or other measures of exposure as stated in the policy, and earned over the policy coverage period. Mandatory reinstatement premiums assessed on reinsurance policies are earned in the period of the loss event that gave rise to the reinstatement premiums. All remaining unearned premiums are recognized over the remaining coverage period. Premiums from long-duration contracts such as certain traditional term life, whole life, endowment, and long-duration personal accident and health (A&H) policies are generally recognized as revenue when due from policyholders. Traditional life policies include those contracts with fixed and guaranteed premiums and benefits. Benefits and expenses are matched with income to result in the recognition of profit over the life of the contracts. Retroactive loss portfolio transfer (LPT) contracts in which the insured loss events occurred prior to contract inception are evaluated to determine whether they meet criteria for reinsurance accounting. If reinsurance accounting is appropriate, written premiums are fully earned and corresponding losses and loss expenses recognized at contract inception. These contracts can cause significant variances in gross premiums written, net premiums written, net premiums earned, and net incurred losses in the years in which they are written. Reinsurance contracts sold not meeting the criteria for reinsurance accounting are recorded using the deposit method as described below in Note 1 k). Reinsurance premiums assumed are based on information provided by ceding companies supplemented by our own estimates of premium when we have not received ceding company reports. Estimates are reviewed and adjustments are recorded in the period in which they are determined. Premiums are earned over the coverage terms of the related reinsurance contracts and range from one to three years. c) Deferred policy acquisition costs and value of business acquired Policy acquisition costs consist of commissions (direct and ceded), premium taxes, and certain underwriting costs related directly to the successful acquisition of new or renewal insurance contracts. A VOBA intangible asset is established upon the acquisition of blocks of long-duration contracts in a business combination and represents the present value of estimated net cash flows for the contracts in force at the acquisition date. Acquisition costs and VOBA, collectively policy acquisition costs, are deferred and amortized. Amortization is recorded in Policy acquisition costs in the Consolidated statements of operations. Policy acquisition costs on P&C contracts are generally amortized ratably over the period in which premiums are earned. Policy acquisition costs on traditional long-duration contracts are amortized over the estimated life of the contracts, generally in proportion to premium revenue recognized based upon the same assumptions used in estimating the liability for future policy benefits. For non-traditional long-duration contracts, we amortize policy acquisition costs over the expected life of the contracts in proportion to expected gross profits. The effect of changes in estimates of expected gross profits is reflected in the period the estimates are revised. Policy acquisition costs are reviewed to determine if they are recoverable from future income, including investment income. Unrecoverable policy acquisition costs are expensed in the period identified. Advertising costs are expensed as incurred except for direct-response campaigns that qualify for cost deferral, principally related to long-duration A&H business produced by the Overseas General Insurance segment, which are deferred and recognized as a component of Policy acquisition costs. For individual direct-response marketing campaigns that we can demonstrate have specifically resulted in incremental sales to customers and such sales have probable future economic benefits, incremental costs directly related to the marketing campaigns are capitalized as Deferred policy acquisition costs. Deferred policy acquisition costs, including deferred marketing costs, are reviewed regularly for recoverability from future income, including investment income, and amortized in proportion to premium revenue recognized, primarily over a ten-year period, the expected economic future benefit period based upon the same assumptions used in estimating the liability for future policy benefits. The expected future benefit period is evaluated periodically based on historical results and adjusted prospectively. The amount of deferred marketing costs reported in Deferred policy acquisition costs in the Consolidated balance sheets was $246 million and $255 million at December 31, 2019 and 2018, respectively. Amortization expense for deferred marketing costs was $109 million, $114 million, and $116 million for the years ended December 31, 2019, 2018, and 2017, respectively. d) Reinsurance Chubb assumes and cedes reinsurance with other insurance companies to provide greater diversification of business and minimize the net loss potential arising from large risks. Ceded reinsurance contracts do not relieve Chubb of its primary obligation to policyholders. For both ceded and assumed reinsurance, risk transfer requirements must be met in order to account for a contract as reinsurance, principally resulting in the recognition of cash flows under the contract as premiums and losses. To meet risk transfer requirements, a reinsurance contract must include insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity. To assess risk transfer for certain contracts, Chubb generally develops expected discounted cash flow analyses at contract inception. Deposit accounting is used for contracts that do not meet risk transfer requirements. Deposit accounting requires that consideration received or paid be recorded in the balance sheet as opposed to recording premiums written or losses incurred in the statement of operations. Non-refundable fees on deposit contracts are earned based on the terms of the contract described below in Note 1 k). Reinsurance recoverable includes balances due from reinsurance companies for paid and unpaid losses and loss expenses and future policy benefits that will be recovered from reinsurers, based on contracts in force. The method for determining the reinsurance recoverable on unpaid losses and loss expenses incurred but not reported (IBNR) involves actuarial estimates consistent with those used to establish the associated liability for unpaid losses and loss expenses as well as a determination of Chubb's ability to cede unpaid losses and loss expenses under the terms of the reinsurance agreement. Reinsurance recoverable is presented net of a provision for uncollectible reinsurance determined based upon a review of the financial condition of reinsurers and other factors. The provision for uncollectible reinsurance is based on an estimate of the reinsurance recoverable balance that will ultimately be unrecoverable due to reinsurer insolvency, a contractual dispute, or any other reason. The valuation of this provision includes several judgments including certain aspects of the allocation of reinsurance recoverable on IBNR claims by reinsurer and a default analysis to estimate uncollectible reinsurance. The primary components of the default analysis are reinsurance recoverable balances by reinsurer, net of collateral, and default factors used to determine the portion of a reinsurer's balance deemed uncollectible. The definition of collateral for this purpose requires some judgment and is generally limited to assets held in a Chubb-only beneficiary trust, letters of credit, and liabilities held with the same legal entity for which Chubb believes there is a contractual right of offset. The determination of the default factor is principally based on the financial strength rating of the reinsurer. Default factors require considerable judgment and are determined using the current financial strength rating, or rating equivalent, of each reinsurer as well as other key considerations and assumptions. The more significant considerations include, but are not necessarily limited to, the following:
The methods used to determine the reinsurance recoverable balance and related provision for uncollectible reinsurance are regularly reviewed and updated, and any resulting adjustments are reflected in earnings in the period identified. The methods used to determine the provision for uncollectible high deductible recoverable amounts are similar to the processes used to determine the provision for uncollectible reinsurance recoverable. For additional information on high deductible policies, refer to section k) Unpaid losses and loss expenses, below. Prepaid reinsurance premiums represent the portion of premiums ceded to reinsurers applicable to the unexpired coverage terms of the reinsurance contracts in-force. The value of reinsurance business assumed of $6 million and $14 million at December 31, 2019 and 2018, respectively, included in Other assets in the accompanying Consolidated balance sheets, represents the excess of estimated ultimate value of the liabilities assumed under retroactive reinsurance contracts over consideration received. The value of reinsurance business assumed is amortized and recorded to Losses and loss expenses based on the payment pattern of the losses assumed and ranges between 9 and 40 years. The unamortized value is reviewed regularly to determine if it is recoverable based upon the terms of the contract, estimated losses and loss expenses, and anticipated investment income. Unrecoverable amounts are expensed in the period identified. e) Investments Fixed maturities, equity securities, and short-term investments Fixed maturities are classified as either available for sale or held to maturity.
Equity securities are reported at fair value with changes in fair value recorded in net realized gains (losses) on the Consolidated statement of operations. Prior to January 1, 2018, changes in fair value were recorded as a separate component of AOCI in Shareholders' equity. Short-term investments comprise securities due to mature within one year of the date of purchase and are recorded at fair value which typically approximates cost. Interest, dividend income, and amortization of fixed maturity market premiums and discounts, related to these securities are recorded in Net investment income, net of investment management and custody fees, in the Consolidated statement of operations. In addition, net investment income includes the amortization of the fair value adjustment related to the acquired invested assets of The Chubb Corporation (Chubb Corp). An adjustment of $1,652 million related to the fair value of Chubb Corp’s fixed maturities securities was recorded (fair value adjustment) at the date of acquisition. At December 31, 2019, the remaining balance of this fair value adjustment was $332 million which is expected to amortize over the next three years; however, the estimate could vary materially based on current market conditions, bond calls, and the duration of the acquired investment portfolio. In addition, sales of these acquired fixed maturities would also reduce the fair value adjustment balance. For mortgage-backed securities and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised as necessary. Any adjustments required due to the resultant change in effective yields and maturities are recognized prospectively. Prepayment fees or call premiums that are only payable when a security is called prior to its maturity are earned when received and reflected in Net investment income. We regularly review our fixed maturities for other than temporary impairment (OTTI). Refer to Note 3 for additional information. With respect to fixed maturities where the decline in value is determined to be temporary and is not written down, a subsequent decision may be made to sell that security and realize a loss. Subsequent decisions on fixed maturities sales are the result of changing or unforeseen facts and circumstances (i.e., arising from a large insured loss such as a catastrophe), deterioration of the creditworthiness of the issuer or its industry, or changes in regulatory requirements. We believe that subsequent decisions to sell such securities are consistent with the classification of the majority of the portfolio as available for sale. Other investments Other investments principally comprise investment funds, limited partnerships, partially-owned investment companies, life insurance policies, policy loans, and non-qualified separate account assets. Investment funds and limited partnerships Investment funds, limited partnerships, and all other investments over which Chubb cannot exercise significant influence are accounted for as follows. Generally, we own less than three percent of the investee’s shares.
Partially-owned investment companies Partially-owned investment companies where our ownership interest is in excess of three percent are accounted for under the equity method because Chubb exerts significant influence. These investments apply investment company accounting to determine operating results, and Chubb retains the investment company accounting in applying the equity method.
Other
Investments in partially-owned insurance companies Investments in partially-owned insurance companies primarily represent direct investments in which Chubb has significant influence and as such, meet the requirements for equity accounting. Generally, we own twenty percent or more of the investee’s shares. We report our share of the net income or loss of the partially-owned insurance companies in Other (income) expense. Derivative instruments Chubb recognizes all derivatives at fair value in the Consolidated balance sheets in either Accounts payable, accrued expenses, and other liabilities or Other assets. Changes in fair value are included in Net realized gains (losses) in the Consolidated statements of operations. We did not designate any derivatives as accounting hedges. We participate in derivative instruments in two principal ways: (i) To sell protection to customers as an insurance or reinsurance contract that meets the definition of a derivative for accounting purposes. The reinsurance of GLBs was our primary product falling into this category; and (ii) To mitigate financial risks and manage certain investment portfolio risks and exposures, including assets and liabilities held in foreign currencies. We use derivative instruments including futures, options, swaps, and foreign currency forward contracts. Refer to Note 10 for additional information. Securities lending program Chubb participates in a securities lending program operated by a third-party banking institution whereby certain assets are loaned to qualified borrowers and from which we earn an incremental return which is recorded within Net investment income in the Consolidated statement of operations. Borrowers provide collateral, in the form of either cash or approved securities, at a minimum of 102 percent of the fair value of the loaned securities. Each security loan is deemed to be an overnight transaction. Cash collateral is invested in a collateral pool which is managed by the banking institution. The collateral pool is subject to written investment guidelines with key objectives which include the safeguard of principal and adequate liquidity to meet anticipated redemptions. The fair value of the loaned securities is monitored on a daily basis, with additional collateral obtained or refunded as the fair value of the loaned securities changes. The collateral is held by the third-party banking institution, and the collateral can only be accessed in the event that the institution borrowing the securities is in default under the lending agreement. As a result of these restrictions, we consider our securities lending activities to be non-cash investing and financing activities. An indemnification agreement with the lending agent protects us in the event a borrower becomes insolvent or fails to return any of the securities on loan. The fair value of the securities on loan is included in fixed maturities and equity securities in the Consolidated balance sheets. The securities lending collateral is reported as a separate line in the Consolidated balance sheets with a related liability reflecting our obligation to return the collateral plus interest. Repurchase agreements Similar to securities lending arrangements, securities sold under repurchase agreements, whereby Chubb sells securities and repurchases them at a future date for a predetermined price, are accounted for as collateralized investments and borrowings and are recorded at the contractual repurchase amounts plus accrued interest. Assets to be repurchased are the same or substantially the same as the assets transferred, and the transferor, through right of substitution, maintains the right and ability to redeem the collateral on short notice. The fair value of the underlying securities is included in fixed maturities and equity securities. In contrast to securities lending programs, the use of cash received is not restricted. We report the obligation to return the cash as Repurchase agreements in the Consolidated balance sheets and record the fees under these repurchase agreements within Interest expense on the Consolidated statement of operations. Refer to Note 4 for a discussion on the determination of fair value for Chubb's various investment securities. f) Cash Cash includes cash on hand and deposits with an original maturity of three months or less at time of purchase. We have agreements with a third-party bank provider which implemented two international multi-currency notional cash pooling programs. In each program, participating Chubb entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency (U.S. dollars) and then notionally pooled. The bank extends overdraft credit to any participating Chubb entity as needed, provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero. Actual cash balances are not physically converted and are not commingled between legal entities. Any overdraft balances incurred under this program by a Chubb entity would be guaranteed by Chubb Limited (up to $300 million in the aggregate). Our syndicated letter of credit facility allows for same day drawings to fund a net pool overdraft should participating Chubb entities overdraw contributed funds from the pool. Restricted cash Restricted cash in the Consolidated balance sheets represents amounts held for the benefit of third parties and is legally or contractually restricted as to withdrawal or usage. Amounts include deposits with U.S. and non-U.S. regulatory authorities, trust funds set up for the benefit of ceding companies, and amounts pledged as collateral to meet financing arrangements. Effective January 1, 2018, we retrospectively adopted guidance on "Restricted Cash" that clarified the presentation of restricted cash on the Consolidated statement of cash flows. As a result, we revised the Consolidated statement of cash flows for the year ended December 31, 2017 to include restricted cash in the beginning and ending cash balances. The following table provides a reconciliation of cash and restricted cash reported within the Consolidated balance sheets that total to the amounts shown in the Consolidated statements of cash flows:
g) Goodwill and Other intangible assets Goodwill represents the excess of the cost of acquisitions over the fair value of net assets acquired and is not amortized. Goodwill is assigned at acquisition to the applicable reporting unit of the acquired entities giving rise to the goodwill. Goodwill impairment tests are performed annually or more frequently if circumstances indicate a possible impairment. For goodwill impairment testing, we use a qualitative assessment to determine whether it is more likely than not (i.e., more than a 50 percent probability) that the fair value of a reporting unit is greater than its carrying amount. If our assessment indicates less than a 50 percent probability that fair value exceeds carrying value, we quantitatively estimate a reporting unit's fair value. Goodwill recorded in connection with investments in partially-owned insurance companies is recorded in Investments in partially-owned insurance companies and is also measured for impairment annually. Indefinite lived intangible assets are not subject to amortization. Finite lived intangible assets are amortized over their useful lives, generally ranging from 1 to 25 years. Intangible assets are regularly reviewed for indicators of impairment. Impairment is recognized if the carrying amount is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and fair value. h) Unpaid losses and loss expenses A liability is established for the estimated unpaid losses and loss expenses under the terms of, and with respect to, Chubb's policies and agreements. Similar to premiums that are recognized as revenues over the coverage period of the policy, a liability for unpaid losses and loss expenses is recognized as expense when insured events occur over the coverage period of the policy. This liability includes a provision for both reported claims (case reserves) and incurred but not reported claims (IBNR reserves). IBNR reserve estimates are generally calculated by first projecting the ultimate cost of all losses that have occurred (expected losses), and then subtracting paid losses, case reserves, and loss expenses. The methods of determining such estimates and establishing the resulting liability are reviewed regularly and any adjustments are reflected in operations in the period in which they become known. Future developments may result in losses and loss expenses materially greater or less than recorded amounts. Except for net loss and loss expense reserves of $31 million, net of discount, held at December 31, 2019, representing certain structured settlements for which the timing and amount of future claim payments are reliably determinable and $43 million, net of discount, of certain reserves for unsettled claims, Chubb does not discount its P&C loss reserves. This compares with reserves of $33 million for certain structured settlements and $40 million of certain reserves for unsettled claims at December 31, 2018. Structured settlements represent contracts purchased from life insurance companies primarily to settle workers' compensation claims, where payments to the claimant by the life insurance company are expected to be made in the form of an annuity. Chubb retains the liability to the claimant in the event that the life insurance company fails to pay. At December 31, 2019, the liability due to claimants was $567 million, net of discount, and reinsurance recoverables due from the life insurance companies was $536 million, net of discount. For structured settlement contracts where payments are guaranteed regardless of claimant life expectancy, the amounts recoverable from the life insurance companies at December 31, 2019 are included in Other assets in the Consolidated balance sheets, as they do not meet the requirements for reinsurance accounting. Included in Unpaid losses and loss expenses are liabilities for asbestos and environmental (A&E) claims and expenses. These unpaid losses and loss expenses are principally related to claims arising from remediation costs associated with hazardous waste sites and bodily-injury claims related to asbestos products and environmental hazards. The estimation of these liabilities is particularly sensitive to changes in the legal environment including specific settlements that may be used as precedents to settle future claims. However, Chubb does not anticipate future changes in laws and regulations in setting its A&E reserve levels. Also included in Unpaid losses and loss expenses is the fair value adjustment of $145 million and $207 million at December 31, 2019 and December 31, 2018, respectively, related to Chubb Corp’s historical unpaid losses and loss expenses. The estimated fair value consists of the present value of the expected net unpaid loss and loss adjustment expense payments adjusted for an estimated risk margin. The estimated cash flows are discounted at a risk free rate. The estimated risk margin varies based on the inherent risks associated with each type of reserve. The fair value is amortized through Amortization of purchased intangibles on the consolidated statements of operations through the year 2032, based on the estimated payout patterns of unpaid loss and loss expenses at the acquisition date. Our loss reserves are presented net of contractual deductible recoverable amounts due from policyholders. Under the terms of certain high deductible policies which we offer, such as workers’ compensation and general liability, our customers are responsible to reimburse us for an agreed-upon dollar amount per claim. In nearly all cases we are required under such policies to pay covered claims first, and then seek reimbursement for amounts within the applicable deductible from our customers. We generally seek to mitigate this risk through collateral agreements. Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premiums from previous accident years. For purposes of analysis and disclosure, management views prior period development to be changes in the nominal value of loss estimates from period to period, net of premium and profit commission adjustments on loss sensitive contracts. Prior period development generally excludes changes in loss estimates that do not arise from the emergence of claims, such as those related to uncollectible reinsurance, interest, unallocated loss adjustment expenses, or foreign currency. Accordingly, specific items excluded from prior period development include the following: gains/losses related to foreign currency remeasurement; losses recognized from the early termination or commutation of reinsurance agreements that principally relate to the time value of money; changes in the value of reinsurance business assumed reflected in losses incurred but principally related to the time value of money; and losses that arise from changes in estimates of earned premiums from prior accident years. Except for foreign currency remeasurement, which is included in Net realized gains (losses), these items are included in current year losses. i) Future policy benefits The valuation of long-duration contract reserves requires management to make estimates and assumptions regarding expenses, mortality, persistency, and investment yields. Estimates are primarily based on historical experience and information provided by ceding companies and include a margin for adverse deviation. Interest rates used in calculating reserves range from less than 1.0 percent to 11.0 percent at both December 31, 2019 and 2018. Actual results could differ materially from these estimates. Management monitors actual experience and where circumstances warrant, will revise assumptions and the related reserve estimates. Revisions are recorded in the period they are determined. Certain of our long-duration contracts are supported by assets that do not qualify for separate account reporting under GAAP. These assets are classified as non-qualified separate account assets and reported in Other investments and the offsetting liabilities are reported in Future policy benefits in the Consolidated balance sheets. Changes in the fair value of separate account assets that do not qualify for separate account reporting under GAAP are reported in Other income (expense) and the offsetting movements in the liabilities are included in Policy benefits in the Consolidated statements of operations. j) Assumed reinsurance programs involving minimum benefit guarantees under variable annuity contracts Chubb reinsures various death and living benefit guarantees associated with variable annuities issued primarily in the United States. We generally receive a monthly premium during the accumulation phase of the covered annuities (in-force) based on a percentage of either the underlying accumulated account values or the underlying accumulated guaranteed values. Depending on an annuitant's age, the accumulation phase can last many years. To limit our exposure under these programs, all reinsurance treaties include annual or aggregate claim limits and many include an aggregate deductible. The guarantees which are payable on death, referred to as guaranteed minimum death benefits (GMDB), principally cover shortfalls between accumulated account value at the time of an annuitant's death and either i) an annuitant's total deposits; ii) an annuitant's total deposits plus a minimum annual return; or iii) the highest accumulated account value attained at any policy anniversary date. In addition, a death benefit may be based on a formula specified in the variable annuity contract that uses a percentage of the growth of the underlying contract value. Liabilities for GMDBs are based on cumulative assessments or premiums to date multiplied by a benefit ratio that is determined by estimating the present value of benefit payments and related adjustment expenses divided by the present value of cumulative assessment or expected premiums during the contract period. Under reinsurance programs covering GLBs, we assume the risk of guaranteed minimum income benefits (GMIB) associated with variable annuity contracts. The GMIB risk is triggered if, at the time the contract holder elects to convert the accumulated account value to a periodic payment stream (annuitize), the accumulated account value is not sufficient to provide a guaranteed minimum level of monthly income. We also assume the risk of guaranteed minimum accumulation benefits (GMAB). However, at December 31, 2019, the risks related to our GMAB programs are minimal given that the majority of these policies are no longer in force. Our GLB reinsurance products meet the definition of a derivative for accounting purposes and are carried at fair value with changes in fair value recognized in Realized gains (losses) in the Consolidated statement of operations. Refer to Notes 5 c) and 10 a) for additional information. k) Deposit assets and liabilities Deposit assets arise from ceded reinsurance contracts purchased that do not transfer significant underwriting or timing risk. Deposit liabilities include reinsurance deposit liabilities and contract holder deposit funds. The reinsurance deposit liabilities arise from contracts sold for which there is not a significant transfer of risk. Contract holder deposit funds represent a liability for investment contracts sold that do not meet the definition of an insurance contract, and certain of these contracts are sold with a guaranteed rate of return. Under deposit accounting, consideration received or paid is recorded as a deposit asset or liability in the balance sheet as opposed to recording premiums and losses in the statement of operations. Interest income on deposit assets, representing the consideration received or to be received in excess of cash payments related to the deposit contract, is earned based on an effective yield calculation. The calculation of the effective yield is based on the amount and timing of actual cash flows at the balance sheet date and the estimated amount and timing of future cash flows. The effective yield is recalculated periodically to reflect revised estimates of cash flows. When a change in the actual or estimated cash flows occurs, the resulting change to the carrying amount of the deposit asset is reported as income or expense. Deposit assets of $93 million and $97 million at December 31, 2019 and 2018, respectively, are reflected in Other assets in the Consolidated balance sheets and the accretion of deposit assets related to interest pursuant to the effective yield calculation is reflected in Net investment income in the Consolidated statements of operations. Deposit liabilities include reinsurance deposit liabilities of $88 million and $97 million and contract holder deposit funds of $2.0 billion and $1.8 billion at December 31, 2019 and 2018, respectively. Deposit liabilities are reflected in Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. At contract inception, the deposit liability equals net cash received. An accretion rate is established based on actuarial estimates whereby the deposit liability is increased to the estimated amount payable over the contract term. The deposit accretion rate is the rate of return required to fund expected future payment obligations. We periodically reassess the estimated ultimate liability and related expected rate of return. Changes to the deposit liability are generally reflected through Interest expense to reflect the cumulative effect of the period the contract has been in force, and by an adjustment to the future accretion rate of the liability over the remaining estimated contract term. The liability for contract holder deposit funds equals accumulated policy account values, which consist of the deposit payments plus credited interest less withdrawals and amounts assessed through the end of the period. l) Property and Equipment Property and equipment used in operations are capitalized and carried at cost less accumulated depreciation and are reported within Other assets in the Consolidated balance sheets. At December 31, 2019, property and equipment totaled $1.9 billion, consisting principally of capitalized software costs of $1.1 billion incurred to develop or obtain computer software for internal use and company-owned facilities of $270 million. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. For capitalized software, the estimated useful life is generally three to five years, but can be as long as 15 years and for company-owned facilities the estimated useful life is 40 years. At December 31, 2018, property and equipment totaled $1.7 billion. m) Foreign currency remeasurement and translation The functional currency for each of our foreign operations is generally the currency of the local operating environment. Transactions in currencies other than a foreign operation's functional currency are remeasured into the functional currency, and the resulting foreign exchange gains and losses are reflected in Net realized gains (losses) in the Consolidated statements of operations. Functional currency assets and liabilities are translated into the reporting currency, U.S. dollars, using period end exchange rates and the related translation adjustments are recorded as a separate component of AOCI in Shareholders' equity. Functional statement of operations amounts expressed in functional currencies are translated using average exchange rates. n) Administrative expenses Administrative expenses generally include all operating costs other than policy acquisition costs. The North America Commercial P&C Insurance segment manages and uses an in-house third-party claims administrator, ESIS Inc. (ESIS). ESIS performs claims management and risk control services for domestic and international organizations that self-insure P&C exposures as well as internal P&C exposures. The net operating income of ESIS is included within Administrative expenses in the Consolidated statements of operations and were $47 million, $49 million, and $38 million for the years ended December 31, 2019, 2018, and 2017, respectively. o) Income taxes Income taxes have been recorded related to those operations subject to income tax. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the consolidated financial statements and the tax basis of our assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax law or rates is recognized in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to these deferred tax assets will not be realized. The valuation allowance assessment considers tax planning strategies, where appropriate. We recognize uncertain tax positions deemed more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that has a greater than 50 percent likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. p) Earnings per share Basic earnings per share is calculated using the weighted-average shares outstanding, including participating securities with non-forfeitable rights to dividends such as unvested restricted stock. All potentially dilutive securities, including stock options are excluded from the basic earnings per share calculation. In calculating diluted earnings per share, the weighted-average shares outstanding is increased to include all potentially dilutive securities. Basic and diluted earnings per share are calculated by dividing net income by the applicable weighted-average number of shares outstanding during the year. q) Cash flow information Premiums received and losses paid associated with the GLB reinsurance products, which as discussed previously, meet the definition of a derivative instrument for accounting purposes, are included within Cash flows from operating activities. Cash flows, such as settlements and collateral requirements, associated with GLB and all other derivative instruments, are included on a net basis within Cash flows from investing activities. Purchases, sales, and maturities of short-term investments are recorded on a net basis within Cash flows from investing activities. r) Share-based compensation Chubb measures and records compensation cost for all share-based payment awards at grant-date fair value. Compensation costs are recognized for vesting of share-based payment awards with only service conditions on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award were, in substance, multiple awards. For retirement-eligible participants, compensation costs for certain share-based payment awards are recognized immediately at the date of grant. Refer to Note 12 for additional information. s) Chubb integration expenses Direct costs related to the Chubb Corp acquisition were expensed as incurred. Chubb integration expenses were $23 million, $59 million, and $310 million for the years ended December 31, 2019, 2018 and 2017, respectively, and include all internal and external costs directly related to the integration activities of the Chubb Corp acquisition. These expenses principally consisted of personnel-related expenses, consulting fees, and rebranding. t) New accounting pronouncements Adopted in 2019 Premium Amortization on Purchased Callable Debt Securities Effective January 1, 2019, we adopted new guidance on accounting for premium amortization on purchased callable debt securities for bonds held at a premium on a modified retrospective basis. The guidance requires the premium to be amortized to the earliest call date. As a result, we recorded a cumulative effect adjustment to decrease beginning retained earnings by $12 million after-tax ($15 million pre-tax). Securities held at a discount did not require an accounting change. Lease Accounting Effective January 1, 2019, we adopted new lease accounting guidance and elected to utilize a modified retrospective approach which allowed us to initially apply the new lease standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings for 2019, with no adjustment to prior periods presented. The cumulative effect adjustment to the opening balance of retained earnings was zero. Our leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease. The adoption of the updated guidance resulted in recognizing a right-of-use asset, which was recorded within Other assets, and a lease liability, which was recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheet as well as de-recognizing the liability for deferred rent that was required under the previous guidance. The adoption of the new guidance did not have a material effect on our results of operations, financial condition or liquidity. Refer to Note 10 i) for additional information on leases. Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued amendments to modify the disclosure requirements on fair value measurements. The amendments allow for the removal of: (i) the amount and reasons for transfer between Level 1 and Level 2 of the fair value hierarchy; (ii) the policy for timing of transfers between levels; and (iii) the valuation processes for Level 3 fair value measurements. This update also requires additional disclosure including an expanded discussion on unobservable inputs that are significant to the fair value measurement. We early adopted the amendments that allow the removal of certain disclosures in 2018 and added the expanded discussion on unobservable inputs in the fourth quarter of 2019, as permitted. The guidance changes disclosure only and did not have an impact on our financial condition or results of operations. Adopted in 2020 Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments Effective January 1, 2020, we adopted, on a modified retrospective basis, new guidance on the accounting for credit losses of financial instruments that are measured at amortized cost, including held to maturity securities, reinsurance recoverables, and high deductible receivables, by applying an approach based on the current expected credit losses (CECL). The estimate of expected credit losses considers historical information, current information, as well as reasonable and supportable forecasts, including estimates of prepayments. In addition, the guidance also amended the current available for sale (AFS) debt security other-than-temporary impairment model by requiring an estimate of the expected credit loss (ECL) only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS security has been below the amortized cost no longer impacts the determination of whether a potential credit loss exists. The AFS security model also requires the use of a valuation allowance as compared to the current practice of writing down the asset. During the first quarter of 2020, we established a valuation allowance for credit losses and recognized a cumulative effect adjustment and decreased beginning retained earnings by approximately $70 million pre-tax, or $64 million after-tax. Accounting guidance not yet adopted Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The amendments in this update require more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures. This standard will be effective for us in the first quarter of 2022 with early adoption permitted. We are currently assessing the effect of adopting this guidance on our financial condition and results of operations. We will be better able to quantify the effect of adopting this standard as we progress in our implementation process and draw nearer to the date of adoption. Income Taxes - Simplifying the Accounting for Income Taxes In December 2019, the FASB issued updated guidance for the accounting for income taxes. The updated guidance is intended to simplify the accounting for income taxes by removing several exceptions contained in existing guidance and amending other existing guidance to simplify several other income tax accounting matters. The updated guidance is effective for us in the first quarter of 2021 with early adoption permitted. We are currently evaluating the impact of this guidance on our financial condition and results of operations; however, it is not expected to have a material impact at the date of adoption.
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Acquisitions (Notes) |
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Dec. 31, 2019 | |
| Acquisitions [Abstract] | |
| Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Acquisitions Huatai Group Chubb maintains a direct investment in Huatai Insurance Group Company Limited (Huatai Group). Huatai Group is the parent company of, and owns 100 percent of, Huatai Property & Casualty Insurance Co., Ltd. (Huatai P&C) and approximately 80 percent of Huatai Life Insurance Co., Ltd. (Huatai Life). Huatai Group's insurance operations have more than 600 branches and 11 million customers in China. In 2019, Chubb increased its aggregate ownership interest in Huatai Group from 20 percent to 30.9 percent, with purchases of 6.2 percent for approximately $329 million in May 2019 and 4.7 percent for approximately $251 million in December 2019. Chubb continues to apply the equity method of accounting to its investment in Huatai Group by recording its share of net income or loss in Other (income) expense in the Consolidated statements of operations. Refer to Note 14 for additional information. The Consolidated statements of operations include the equity income from the additional ownership interests as of each respective closing date. During 2019, Chubb also entered into agreements to acquire an additional 22.4 percent ownership in Huatai Group for approximately $1.6 billion through two separate purchases, a 15.3 percent ownership interest for approximately $1.1 billion and a 7.1 percent ownership interest for approximately $493 million. These purchases are contingent upon Chinese insurance regulatory approval and other important conditions that are expected to be completed by the end of 2021. The purchase of the 7.1 percent ownership stake is also contingent upon the receipt of Chinese insurance regulatory approval of the 15.3 percent purchase. Upon completion of the 7.1 percent purchase, which will result in majority ownership of Huatai Group at 53.3 percent, Chubb is expected to obtain control of Huatai Group, Huatai P&C and Huatai Life. At that time, Chubb is expected to apply consolidation accounting and discontinue the application of the equity method of accounting. Banchile Seguros de Vida On December 30, 2019, we acquired Banchile Seguros de Vida, an insurance company providing both life and property and casualty coverages in Chile, for approximately $80 million in cash. The consolidated financial statements will include results of this acquisition within the Chubb Overseas General and Life Insurance segment results.
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Investments |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | Investments a) Fixed maturities
As discussed in Note 3 c), if a credit loss is incurred on an impaired fixed maturity, an OTTI is considered to have occurred and the portion of the impairment not related to credit losses (non-credit OTTI) is recognized in OCI. Included in the “OTTI Recognized in AOCI” columns above are the cumulative amounts of non-credit OTTI recognized in OCI adjusted for subsequent sales, maturities, and redemptions. OTTI recognized in AOCI does not include the impact of subsequent changes in fair value of the related securities. In periods subsequent to a recognition of OTTI in OCI, changes in the fair value of the related fixed maturities are reflected in Net unrealized appreciation on investments in the Consolidated statements of shareholders' equity. For the years ended December 31, 2019 and 2018, $3 million of net unrealized appreciation and $4 million of net unrealized depreciation, respectively, related to such securities are included in OCI. At December 31, 2019 and 2018, AOCI included cumulative net unrealized depreciation of $18 million and net unrealized appreciation of $1 million, respectively, related to securities remaining in the investment portfolio for which a non-credit OTTI was recognized. Mortgage-backed securities (MBS) issued by U.S. government agencies are combined with all other to be announced mortgage-backed securities held (refer to Note 10 b) (iv)) and are included in the category, “Mortgage-backed securities”. Approximately 83 percent and 81 percent of the total mortgage-backed securities at December 31, 2019 and 2018, respectively, are represented by investments in U.S. government agency bonds. The remainder of the mortgage exposure consists of collateralized mortgage obligations and non-government mortgage-backed securities, the majority of which provide a planned structure for principal and interest payments and carry a rating of AAA by the major credit rating agencies. The following table presents fixed maturities by contractual maturity:
Expected maturities could differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties. b) Gross unrealized loss At December 31, 2019, there were 4,091 fixed maturities out of a total of 31,203 fixed maturities in an unrealized loss position. The largest single unrealized loss in the fixed maturities was $6 million. Fixed maturities in an unrealized loss position at December 31, 2019, comprised both investment grade and below investment grade securities for which fair value declined primarily due to widening credit spreads since the date of purchase. The following tables present, for all securities in an unrealized loss position (including securities on loan), the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:
c) Net realized gains (losses) OTTI related to fixed maturities In accordance with guidance related to the recognition and presentation of OTTI, when an impairment related to a fixed maturity has occurred, OTTI is required to be recorded in Net income if management has the intent to sell the security or it is more likely than not that we will be required to sell the security before the recovery of its amortized cost. Further, in cases where we do not intend to sell the security and it is more likely than not that we will not be required to sell the security, we must evaluate the security to determine the portion of the impairment, if any, related to credit losses. If a credit loss is incurred, an OTTI is considered to have occurred and any portion of the OTTI related to credit losses must be reflected in Net income while the portion of OTTI related to all other factors is recognized in OCI. For fixed maturities held to maturity, OTTI recognized in OCI is accreted from AOCI to the amortized cost of the fixed maturity prospectively over the remaining term of the securities. Each quarter, securities in an unrealized loss position (impaired securities), including fixed maturities and securities lending collateral are reviewed to identify impaired securities to be specifically evaluated for a potential OTTI. Evaluation of potential credit losses related to fixed maturities We review each fixed maturity in an unrealized loss position to assess whether the security is a candidate for credit loss. Specifically, we consider credit rating, market price, and issuer-specific financial information, among other factors, to assess the likelihood of collection of all principal and interest as contractually due. Securities, for which we determine that credit loss is likely, are subjected to further analysis to estimate the credit loss recognized in Net income, if any. In general, credit loss recognized in Net income equals the difference between the security’s amortized cost and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security. All significant assumptions used in determining credit losses are subject to change as market conditions evolve. U.S. Treasury and agency obligations (including agency mortgage-backed securities); foreign government obligations; and states, municipalities, and political subdivisions obligations U.S. Treasury and agency obligations (including agency mortgage-backed securities); foreign government obligations; and states, municipalities, and political subdivisions obligations represent $61 million of gross unrealized loss at December 31, 2019. These securities were evaluated for credit loss primarily using qualitative assessments of the likelihood of credit loss considering credit rating of the issuers and level of credit enhancement, if any. We concluded that the high level of creditworthiness of the issuers coupled with credit enhancement, where applicable, supports recognizing no credit loss in Net income. Corporate and foreign securities Projected cash flows for corporate and foreign securities (principally senior unsecured bonds) are driven primarily by assumptions regarding probability of default and the timing and amount of recoveries associated with defaults. Chubb developed projected cash flows for corporate and foreign securities using market observable data, issuer-specific information, and credit ratings. We use historical default data by Moody’s Investors Service (Moody’s) rating category to calculate a 1-in-100 year probability of default, which results in a default assumption in excess of the historical mean default rate. Consistent with management's approach, Chubb assumed a 32 percent recovery rate (the par value of a defaulted security that will be recovered) across all rating categories, rather than using Moody's historical mean recovery rate of 42 percent. We believe that use of a default assumption, in excess of the historical mean is conservative. The following table presents default assumptions by Moody's rating category (historical mean default rate provided for comparison):
Application of the methodology and assumptions described above resulted in pre-tax credit losses recognized in Net income for corporate and foreign securities of $37 million, $25 million, and $5 million for the years ended December 31, 2019, 2018, and 2017, respectively. Mortgage-backed securities For mortgage-backed securities, credit impairment is assessed using a cash flow model that estimates the cash flows on the underlying mortgages, using the security-specific collateral and transaction structure. The model estimates cash flows from the underlying mortgage loans and distributes those cash flows to various tranches of securities, considering the transaction structure and any subordination and credit enhancements that exist in that structure. The cash flow model incorporates actual cash flows on the mortgage-backed securities through the current period and then projects the remaining cash flows using a number of assumptions, including default rates, prepayment rates, and loss severity rates (the par value of a defaulted security that will not be recovered) on foreclosed properties. We develop specific assumptions using market data, where available, and include internal estimates as well as estimates published by rating agencies and other third-party sources. We project default rates by mortgage sector considering current underlying mortgage loan performance, generally assuming lower loss severity for Prime sector bonds versus ALT-A and Sub-prime bonds. These estimates are extrapolated along a default timing curve to estimate the total lifetime pool default rate. Other assumptions used contemplate the actual collateral attributes, including geographic concentrations, rating agency loss projections, rating actions, and current market prices. If cash flow projections indicate that losses will exceed the credit enhancement for a given tranche, then we do not expect to recover our amortized cost basis, and we recognize an estimated credit loss in Net income. For the years ended December 31, 2019, 2018, and 2017 there were no credit losses recognized in Net income for mortgage-backed securities. The following table presents a roll-forward of pre-tax credit losses related to fixed maturities for which a portion of OTTI was recognized in OCI:
The following table presents the components of Net realized gains (losses) and the change in net unrealized appreciation (depreciation) of investments:
Realized gains and losses from Equity securities and Other investments from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:
d) Other investments
Alternative investments Alternative investments include partially-owned investment companies, investment funds, and limited partnerships measured at fair value using net asset value (NAV) as a practical expedient. The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments of alternative investments:
Included in all categories in the above table, except for Investment funds, are investments for which Chubb will never have the contractual option to redeem but receives distributions based on the liquidation of the underlying assets. Further, for all categories except for Investment funds, Chubb does not have the ability to sell or transfer the investments without the consent from the general partner of individual funds.
Included in partially-owned investment companies and limited partnerships are 131 individual limited partnerships covering a broad range of investment strategies including large cap buyouts, specialist buyouts, growth capital, distressed, mezzanine, real estate, and co-investments. The underlying portfolio consists of various public and private debt and equity securities of publicly traded and privately held companies and real estate assets. The underlying investments across various partnerships, geographies, industries, asset types, and investment strategies provide risk diversification within the limited partnership portfolio and the overall investment portfolio. Investment funds employ various investment strategies such as long/short equity and arbitrage/distressed. Included in this category are investments for which Chubb has the option to redeem at agreed upon value as described in each investment fund’s subscription agreement. Depending on the terms of the various subscription agreements, investment fund investments may be redeemed monthly, quarterly, semi-annually, or annually. If Chubb wishes to redeem an investment fund investment, it must first determine if the investment fund is still in a lock-up period (a time when Chubb cannot redeem its investment so that the investment fund manager has time to build the portfolio). If the investment fund is no longer in its lock-up period, Chubb must then notify the investment fund manager of its intention to redeem by the notification date prescribed by the subscription agreement. Subsequent to notification, the investment fund can redeem Chubb’s investment within several months of the notification. Notice periods for redemption of the investment funds range between 5 and 120 days. Chubb can redeem its investment funds without consent from the investment fund managers. e) Investments in partially-owned insurance companies The following table presents Investments in partially-owned insurance companies:
Huatai Group has a 100 percent ownership interest in Huatai P&C and an approximately 80 percent ownership interest in Huatai Life. At December 31, 2019, through its investment in Huatai Group, Chubb has a 30.9 percent indirect ownership in Huatai P&C and a 25 percent indirect ownership in Huatai Life. Chubb has a 20 percent direct ownership interest in Huatai Life. Therefore, Chubb’s aggregate direct and indirect ownership in Huatai Life is approximately 45 percent, comprising 20 percent direct and 25 percent indirect ownership interest. The table above excludes the 15.3 percent and 7.1 percent of additional ownership commitments in Huatai Group that are pending regulatory approvals and other important conditions. Refer to Note 2 for additional information. f) Net investment income
g) Restricted assets Chubb is required to maintain assets on deposit with various regulatory authorities to support its insurance and reinsurance operations. These requirements are generally promulgated in the statutory regulations of the individual jurisdictions. The assets on deposit are available to settle insurance and reinsurance liabilities. Chubb is also required to restrict assets pledged under repurchase agreements, which represent Chubb's agreement to sell securities and repurchase them at a future date for a predetermined price. We use trust funds in certain large reinsurance transactions where the trust funds are set up for the benefit of the ceding companies and generally take the place of letter of credit (LOC) requirements. We have investments in segregated portfolios primarily to provide collateral or guarantees for LOC and derivative transactions. Included in restricted assets are investments, primarily fixed maturities, totaling $21.0 billion, at both December 31, 2019 and 2018, and cash of $109 million and $93 million, respectively. The following table presents the components of restricted assets:
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair value measurements | Fair value measurements a) Fair value hierarchy Fair value of financial assets and financial liabilities is estimated based on the framework established in the fair value accounting guidance. The guidance defines fair value as the price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants and establishes a three-level valuation hierarchy based on the reliability of the inputs. The fair value hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. The three levels of the hierarchy are as follows:
interest rates and yield curves, quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active; and
would use in pricing an asset or liability. We categorize financial instruments within the valuation hierarchy at the balance sheet date based upon the lowest level of inputs that are significant to the fair value measurement. We use pricing services to obtain fair value measurements for the majority of our investment securities. Based on management’s understanding of the methodologies used, these pricing services only produce an estimate of fair value if there is observable market information that would allow them to make a fair value estimate. Based on our understanding of the market inputs used by the pricing services, all applicable investments have been valued in accordance with GAAP. We do not adjust prices obtained from pricing services. The following is a description of the valuation techniques and inputs used to determine fair values for financial instruments carried at fair value, as well as the general classification of such financial instruments pursuant to the valuation hierarchy. Fixed maturities We use pricing services to estimate fair value measurements for the majority of our fixed maturities. The pricing services use market quotations for fixed maturities that have quoted prices in active markets; such securities are classified within Level 1. For fixed maturities other than U.S. Treasury securities that generally do not trade on a daily basis, the pricing services prepare estimates of fair value measurements using their pricing applications, which include available relevant market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. Additional valuation factors that can be taken into account are nominal spreads, dollar basis, and liquidity adjustments. The pricing services evaluate each asset class based on relevant market and credit information, perceived market movements, and sector news. The market inputs used in the pricing evaluation, listed in the approximate order of priority include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and economic events. The extent of the use of each input is dependent on the asset class and the market conditions. Given the asset class, the priority of the use of inputs may change, or some market inputs may not be relevant. Additionally, fixed maturities valuation is more subjective when markets are less liquid due to the lack of market based inputs (i.e., stale pricing), which may increase the potential that an investment's estimated fair value is not reflective of the price at which an actual transaction would occur. The overwhelming majority of fixed maturities are classified within Level 2 because the most significant inputs used in the pricing techniques are observable. For a small number of fixed maturities, we obtain a single broker quote (typically from a market maker). Due to the disclaimers on the quotes that indicate that the price is indicative only, we include these fair value estimates in Level 3. Equity securities Equity securities with active markets are classified within Level 1 as fair values are based on quoted market prices. For equity securities in markets which are less active, fair values are based on market valuations and are classified within Level 2. Equity securities for which pricing is unobservable are classified within Level 3. Short-term investments Short-term investments, which comprise securities due to mature within one year of the date of purchase that are traded in active markets, are classified within Level 1 as fair values are based on quoted market prices. Securities such as commercial paper and discount notes are classified within Level 2 because these securities are typically not actively traded due to their approaching maturity, and as such, their cost approximates fair value. Short-term investments for which pricing is unobservable are classified within Level 3. Other investments Fair values for the majority of Other investments including investments in partially-owned investment companies, investment funds, and limited partnerships are based on their respective net asset values or equivalent (NAV) and are excluded from the fair value hierarchy table below. Certain of our long-duration contracts are supported by assets that do not qualify for separate account reporting under GAAP. These assets comprise mutual funds, classified within Level 1 in the valuation hierarchy on the same basis as other equity securities traded in active markets. Other investments also include equity securities, classified within Level 1 and fixed maturities, classified within Level 2, held in rabbi trusts maintained by Chubb for deferred compensation plans and supplemental retirement plans and are classified within the valuation hierarchy on the same basis as other equity securities and fixed maturities. Other investments for which pricing is unobservable are classified within Level 3. Securities lending collateral The underlying assets included in Securities lending collateral in the Consolidated balance sheets are fixed maturities which are classified in the valuation hierarchy on the same basis as other fixed maturities. Excluded from the valuation hierarchy is the corresponding liability related to Chubb’s obligation to return the collateral plus interest as it is reported at contract value and not fair value in the Consolidated balance sheets. Investment derivative instruments Actively traded investment derivative instruments, including futures, options, and forward contracts are classified within Level 1 as fair values are based on quoted market prices. The fair value of cross-currency swaps and interest rate swaps is based on market valuations and is classified within Level 2. Investment derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. Other derivative instruments We maintain positions in exchange-traded equity futures contracts designed to limit exposure to a severe equity market decline, which would cause an increase in expected claims and, therefore, an increase in reserves for our guaranteed minimum death benefits (GMDB) and guaranteed living benefits (GLB) reinsurance business. Our positions in exchange-traded equity futures contracts are classified within Level 1. The fair value of the majority of the remaining positions in other derivative instruments is based on significant observable inputs including equity security and interest rate indices. Accordingly, these are classified within Level 2. Other derivative instruments based on unobservable inputs are classified within Level 3. Other derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. Separate account assets Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. Separate account assets comprise mutual funds classified within Level 1 in the valuation hierarchy on the same basis as other equity securities traded in active markets. Separate account assets also include fixed maturities classified within Level 2 because the most significant inputs used in the pricing techniques are observable. Excluded from the valuation hierarchy are the corresponding liabilities as they are reported at contract value and not fair value in the Consolidated balance sheets. Separate account assets are recorded in Other assets in the Consolidated balance sheets. Guaranteed living benefits The GLB arises from life reinsurance programs covering living benefit guarantees whereby we assume the risk of guaranteed minimum income benefits (GMIB) associated with variable annuity contracts. GLB’s are recorded in Accounts payable, accrued expenses, and other liabilities and Future policy benefits in the Consolidated balance sheets. For GLB reinsurance, Chubb estimates fair value using an internal valuation model which includes current market information and estimates of policyholder behavior. All of the treaties contain claim limits, which are factored into the valuation model. The fair value depends on a number of factors, including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. Because of the significant use of unobservable inputs including policyholder behavior, GLB reinsurance is classified within Level 3. Financial instruments measured at fair value on a recurring basis, by valuation hierarchy
Level 3 financial instruments The following table presents the significant unobservable inputs used in the Level 3 liability valuations. Excluded from the table below are inputs used to determine the fair value of Level 3 assets which are based on single broker quotes and contain no quantitative unobservable inputs developed by management. The majority of our fixed maturities classified as Level 3 used external pricing when markets are less liquid due to the lack of market inputs (i.e., stale pricing, broker quotes).
The most significant policyholder behavior assumptions include lapse rates and the GMIB annuitization rates. Assumptions regarding lapse rates and GMIB annuitization rates differ by treaty, but the underlying methodologies to determine rates applied to each treaty are comparable. A lapse rate is the percentage of in-force policies surrendered in a given calendar year. All else equal, as lapse rates increase, ultimate claim payments will decrease. In general, the base lapse function assumes low lapse rates during the surrender charge period of the GMIB contract, followed by a “spike” lapse rate in the year immediately following the surrender charge period, and then reverting to an ultimate lapse rate, typically over a 2-year period. This base rate is adjusted downward for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Partial withdrawals and the impact of older policyholders with tax-qualified contracts (due to required minimum distributions) are also reflected in our modeling. The GMIB annuitization rate is the percentage of policies for which the policyholder will elect to annuitize using the guaranteed benefit provided under the GMIB. All else equal, as GMIB annuitization rates increase, ultimate claim payments will increase, subject to treaty claim limits. All GMIB reinsurance treaties include claim limits to protect Chubb in the event that actual annuitization behavior is significantly higher than expected. In general, Chubb assumes that GMIB annuitization rates will be higher for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Chubb also assumes that GMIB annuitization rates increase as policyholders get older. In addition, we also assume that GMIB annuitization rates are higher in the first year immediately following the waiting period (the first year the policies are eligible to annuitize using the GMIB) in comparison to all subsequent years. We do not yet have fully credible annuitization experience for all clients. The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. For treaties with limited experience, rates are established in line with data received from other ceding companies adjusted, as appropriate, with industry estimates. The model and related assumptions are regularly re-evaluated by management and enhanced, as appropriate, based upon additional experience obtained related to policyholder behavior and availability of updated information such as market conditions, market participant assumptions, and demographics of in-force annuities. In the fourth quarter of 2019, we completed a review of policyholder behavior related to annuitizations, partial withdrawals, lapses, and mortality for our variable annuity reinsurance business.
During the year ended December 31, 2019, we also made routine model refinements to the internal valuation model which resulted in a net increase in the fair value of GLB liabilities generating a realized loss of approximately $25 million. The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):
b) Financial instruments disclosed, but not measured, at fair value Chubb uses various financial instruments in the normal course of its business. Our insurance contracts are excluded from fair value of financial instruments accounting guidance, and therefore, are not included in the amounts discussed below. The carrying values of cash, other assets, other liabilities, and other financial instruments not included below approximated their fair values. Investments in partially-owned insurance companies Fair values for investments in partially-owned insurance companies are based on Chubb’s share of the net assets based on the financial statements provided by those companies and are excluded from the valuation hierarchy tables below. Short- and long-term debt, repurchase agreements, and trust preferred securities Where practical, fair values for short-term debt, long-term debt, repurchase agreements, and trust preferred securities are estimated using discounted cash flow calculations based principally on observable inputs including incremental borrowing rates, which reflect Chubb’s credit rating, for similar types of borrowings with maturities consistent with those remaining for the debt being valued. The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:
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| Reinsurance Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance | Reinsurance a) Consolidated reinsurance Chubb purchases reinsurance to manage various exposures including catastrophe risks. Although reinsurance agreements contractually obligate Chubb's reinsurers to reimburse it for the agreed-upon portion of its gross paid losses, they do not discharge Chubb's primary liability. The amounts for net premiums written and net premiums earned in the Consolidated statements of operations are net of reinsurance. The following table presents direct, assumed, and ceded premiums:
Ceded losses and loss expenses incurred were $4.9 billion, $5.6 billion, and $5.5 billion for the years ended December 31, 2019, 2018, and 2017, respectively. b) Reinsurance recoverable on ceded reinsurance
The decrease in reinsurance recoverable on losses and loss expenses in 2019 was primarily due to collections, principally on catastrophe losses. We evaluate the financial condition of our reinsurers and potential reinsurers on a regular basis and also monitor concentrations of credit risk with reinsurers. The provision for uncollectible reinsurance is required principally due to the potential failure of reinsurers to indemnify Chubb, primarily because of disputes under reinsurance contracts and insolvencies. We have established provisions for amounts estimated to be uncollectible on both unpaid and paid losses as well as future policy benefits. The following tables present a listing, at December 31, 2019, of the categories of Chubb's reinsurers:
The provision for uncollectible reinsurance is principally based on an analysis of the credit quality of the reinsurer and collateral balances. We establish the provision for uncollectible reinsurance for the Other category based on a case-by-case analysis of individual situations including the merits of the underlying matter, credit and collateral analysis, and consideration of our collection experience in similar situations. c) Assumed life reinsurance programs involving minimum benefit guarantees under variable annuity contracts The following table presents income and expenses relating to GMDB and GLB reinsurance. GLBs include GMIBs.
Net realized gains (losses) in the table above include gains (losses) related to foreign exchange and fair value adjustments on insurance derivatives and exclude gains (losses) on S&P futures used to partially offset the risk in the GLB reinsurance portfolio. Refer to Note 10 for additional information. At December 31, 2019 and 2018, the reported liability for GMDB reinsurance was $83 million and $117 million, respectively. At December 31, 2019 and 2018, the reported liability for GLB reinsurance was $897 million and $861 million, respectively, which includes a fair value derivative adjustment of $456 million and $452 million, respectively. Reported liabilities for both GMDB and GLB reinsurance are determined using internal valuation models. Such valuations require considerable judgment and are subject to significant uncertainty. The valuation of these products is subject to fluctuations arising from, among other factors, changes in interest rates, changes in equity markets, changes in credit markets, changes in the allocation of the investments underlying annuitants’ account values, and assumptions regarding future policyholder behavior. These models and the related assumptions are regularly reviewed by management and enhanced, as appropriate, based upon improvements in modeling assumptions and availability of updated information, such as market conditions and demographics of in-force annuities. Variable Annuity Net Amount at Risk The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date (December 31, 2019 and 2018, respectively) and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. In addition, the following assumptions were used:
The average attained age of all policyholders for all risk categories above, weighted by the guaranteed value of each reinsured policy, is approximately 72 years.
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Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets Disclosure [Text Block] | Goodwill and Other intangible assets At both December 31, 2019 and 2018, Goodwill was $15.3 billion and Other intangible assets were $6.1 billion. The majority of the Other intangible assets balance at both December 31, 2019 and 2018 relates to the Chubb Corp acquisition and comprises of $3.2 billion that are subject to amortization, principally agency distribution relationships and renewal rights, and $2.9 billion that are not subject to amortization, principally trademarks. a) Goodwill The following table presents a roll-forward of Goodwill by segment:
b) Other intangible assets Amortization expense related to purchased intangibles were $305 million, $339 million, and $260 million for the years ended December 31, 2019, 2018, and 2017, principally related to agency distribution relationships and renewal rights. The following table presents, as of December 31, 2019, the expected estimated pre-tax amortization expense (benefit) of purchased intangibles, at current foreign currency exchange rates, for the next five years:
c) VOBA The following table presents a roll-forward of VOBA:
The following table presents, as of December 31, 2019, the expected estimated pre-tax amortization expense related to VOBA for the next five years:
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Unpaid losses and loss expenses |
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| Liability for Claims and Claims Adjustment Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unpaid Losses and Loss Expenses | Unpaid losses and loss expenses Chubb establishes reserves for the estimated unpaid ultimate liability for losses and loss expenses under the terms of its policies and agreements. Reserves include estimates for both claims that have been reported and for IBNR claims, and include estimates of expenses associated with processing and settling these claims. Reserves are recorded in Unpaid losses and loss expenses in the consolidated balance sheets. While we believe that our reserves for unpaid losses and loss expenses at December 31, 2019 are adequate, new information or trends may lead to future developments in incurred loss and loss expenses significantly greater or less than the reserves provided. Any such revisions could result in future changes in estimates of losses or reinsurance recoverable and would be reflected in our results of operations in the period in which the estimates are changed. The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:
The increase in net unpaid losses and loss expense in 2019 reflected an increase in underlying reserves, offset by favorable prior period development and payments related to catastrophic events. The decrease in gross and net unpaid losses and loss expenses in 2018 was primarily driven by payments related to the 2017 catastrophic events, favorable prior period development and foreign exchange movement, partially offset by catastrophic events in 2018. The loss development tables under section c) below, present Chubb’s historical incurred and paid claims development by broad product line through December 31, 2019, net of reinsurance, as well as the cumulative number of reported claims, IBNR balances, and other supplementary information. The following table presents a reconciliation of the loss development tables to the liability for unpaid losses and loss expenses in the consolidated balance sheet:
Business excluded from the loss development tables “Other” shown in the reconciliation table above comprises businesses excluded from the loss development tables below:
a) Description of Reserving Methodologies Our recorded reserves represent management's best estimate of the provision for unpaid claims as of the balance sheet date. The process of establishing loss and loss expense reserves can be complex and is subject to considerable uncertainty as it requires the use of estimates and judgments based on circumstances underlying the insured loss at the date of accrual. The reserves for our various product lines each require different qualitative and quantitative assumptions and judgments to be made. Management's best estimate is developed after collaboration with actuarial, underwriting, claims, legal, and finance departments and culminates with the input of reserve committees. Each business unit reserve committee includes the participation of the relevant parties from actuarial, finance, claims, and unit senior management and has the responsibility for finalizing, recommending and approving the estimate to be used as management's best estimate. Reserves are further reviewed by Chubb's Chief Actuary and senior management. The objective of such a process is to determine a single estimate that we believe represents a better estimate than any other and which is viewed by management to be the best estimate of ultimate loss settlements. This estimate is based on a combination of exposure and experience-based actuarial methods (described below) and other considerations such as claims reviews, reinsurance recovery assumptions and/or input from other knowledgeable parties such as underwriting. Exposure-based methods are most commonly used on relatively immature origin years (i.e., the year in which the losses were incurred — “accident year” or “report year”), while experience-based methods provide a view based on the projection of loss experience that has emerged as of the valuation date. Greater reliance is placed upon experience-based methods as the pool of emerging loss experience grows and where it is deemed sufficiently credible and reliable as the basis for the estimate. In comparing the held reserve for any given origin year to the actuarial projections, judgment is required as to the credibility, uncertainty and inherent limitations of applying actuarial techniques to historical data to project future loss experience. Examples of factors that impact such judgments include, but are not limited to, the following:
We have actuarial staff within each of our business units who analyze loss reserves (including loss expenses) and regularly project estimates of ultimate losses and the corresponding indications of the required IBNR reserve. Our reserving approach is a comprehensive ground-up process using data at a detailed level that reflects the specific types and coverages of the diverse products written by our various operations. The data presented in this disclosure was prepared on a more aggregated basis and with a focus on changes in incurred loss estimates over time as well as associated cash flows. We note that data prepared on this basis may not demonstrate the full spectrum of characteristics that are evident in the more detailed level studied internally. We perform an actuarial reserve review for each product line at least once a year. For most product lines, one or more standard actuarial reserving methods may be used to determine estimates of ultimate losses and loss expenses, and from these estimates, a single actuarial central estimate is selected. The actuarial central estimate is an input to the reserve committee process described above. For the few product lines that do not lend themselves to standard actuarial reserving methods, appropriate techniques are applied to produce the actuarial central estimates. For example, run-off asbestos and environmental liability estimates are better suited to the application of account-specific exposure-based analyses to best evaluate their associated aggregate reserve levels. b) Standard actuarial reserving methods The judgments involved in projecting the ultimate losses include the use and interpretation of various standard actuarial reserving methods that place reliance on the extrapolation of actual historical data, loss development patterns, industry data, and other benchmarks as appropriate. Standard actuarial reserving methods include, but are not limited to, expected loss ratio, paid and reported loss development, and Bornhuetter-Ferguson methods. A general description of these methods is provided below. In addition to these standard methods, depending upon the product line characteristics and available data, we may use other recognized actuarial methods and approaches. Implicit in the standard actuarial methods that we generally utilize is the need for two fundamental assumptions: first, the pattern by which losses are expected to emerge over time for each origin year, and second the expected loss ratio for each origin year. The expected loss ratio for any particular origin year is selected after consideration of a number of factors, including historical loss ratios adjusted for rate changes, premium and loss trends, industry benchmarks, the results of policy level loss modeling at the time of underwriting, and/or other more subjective considerations for the product line (e.g., terms and conditions) and external environment as noted above. The expected loss ratio for a given origin year is initially established at the start of the origin year as part of the planning process. This analysis is performed in conjunction with underwriters and management. The expected loss ratio method arrives at an ultimate loss estimate by multiplying the expected ultimate loss ratio by the corresponding premium base. This method is most commonly used as the basis for the actuarial central estimate for immature origin periods on product lines where the actual paid or reported loss experience is not yet deemed sufficiently credible to serve as the principal basis for the selection of ultimate losses. The expected loss ratio for a given origin year may be modified over time if the underlying assumptions differ from the original assumptions (e.g., the assessment of prior year loss ratios, loss trend, rate changes, actual claims, or other information). Our selected paid and reported development patterns provide a benchmark against which the actual emerging loss experience can be monitored. Where possible, development patterns are selected based on historical loss emergence by origin year. For product lines where the historical data is viewed to have low statistical credibility, the selected development patterns also reflect relevant industry benchmarks and/or experience from similar product lines written elsewhere within Chubb. This most commonly occurs for relatively new product lines that have limited historical data or for high severity/low frequency portfolios where our historical experience exhibits considerable volatility and/or lacks credibility. The paid and reported loss development methods convert the selected loss emergence pattern to a set of multiplicative factors which are then applied to actual paid or reported losses to arrive at an estimate of ultimate losses for each period. Due to their multiplicative nature, the paid and reported loss development methods will leverage differences between actual and expected loss emergence. These methods tend to be utilized for more mature origin periods and for those portfolios where the loss emergence has been relatively consistent over time. The Bornhuetter-Ferguson method is a combination of the expected loss ratio method and the loss development method, where the loss development method is given more weight as the origin year matures. This approach allows a logical transition between the expected loss ratio method which is generally utilized at earlier maturities and the loss development methods which are typically utilized at later maturities. We usually apply this method using reported loss data although paid data may also be used. Short-tail business Short-tail business generally describes product lines for which losses are typically known and paid shortly after the loss actually occurs. This would include, for example, most property, personal accident, and automobile physical damage policies that we write. Due to the short reporting and development pattern for these product lines, the uncertainty associated with our estimate of ultimate losses for any particular accident period diminishes relatively quickly as actual loss experience emerges. We typically assign credibility to methods that incorporate actual loss emergence, such as the paid and reported loss development and Bornhuetter-Ferguson methods, sooner than would be the case for long-tail lines at a similar stage of development for a given origin year. The reserving process for short-tail losses arising from catastrophic events typically involves an assessment by the claims department, in conjunction with underwriters and actuaries, of our exposure and estimated losses immediately following an event and then subsequent revisions of the estimated losses as our insureds provide updated actual loss information. Long-tail business Long-tail business describes lines of business for which specific losses may not be known/reported for some period and for which claims can take significant time to settle/close. This includes most casualty lines such as general liability, D&O, and workers' compensation. There are various factors contributing to the uncertainty and volatility of long-tail business. Among these are:
As described above, various factors are considered when determining appropriate data, assumptions, and methods used to establish the loss reserve estimates for long-tail product lines. These factors may also vary by origin year for given product lines. The derivation of loss development patterns from data and the selection of a tail factor to project ultimate losses from actual loss emergence require considerable judgment, particularly with respect to the extent to which historical loss experience is relied upon to support changes in key reserving assumptions. c) Loss Development Tables The tables were designed to present business with similar risk characteristics which exhibit like development patterns and generally similar trends, in order to provide insight into the nature, amount, timing and uncertainty of cash flows related to our claims liabilities. Each table follows a similar format and reflects the following:
Historical dollar amounts are presented in this footnote on a constant-dollar basis, which is achieved by assuming constant foreign exchange rates for all periods in the loss triangles, translating prior period amounts using the same local currency exchange rates as the current year end. The impact of this conversion is to show the change between periods exclusive of the effect of fluctuations in exchange rates, which would otherwise distort the change in incurred loss and cash flow patterns shown. The change in incurred loss shown will differ from other GAAP disclosures of incurred prior period reserve development amounts, which include the effect of fluctuations in exchanges rates. We provided guidance above on key assumptions that should be considered when reviewing this disclosure and information relating to how loss reserve estimates are developed. We believe the information provided in the “Loss Development Tables” section of the disclosure is of limited use for independent analysis or application of standard actuarial estimations. Cumulative Number of Reported Claims Reported claim counts, on a cumulative basis, are provided to the far right of each incurred loss development table. We generally consider a reported claim to be one claim per coverage per claimant. We exclude claims closed without payment. Use of the presented claim counts in analysis of company experience has significant limitations, including:
Reported claim counts include open claims which have case reserves and exclude claims that have been incurred but not reported. As such the reported claims are consistent with reported losses, which can be calculated by subtracting incurred but not reported losses from incurred losses. Reported claim counts are inconsistent with losses in the incurred loss triangle, which include incurred but not reported losses, and are also inconsistent with losses in the paid loss triangle, which exclude case reserves. North America Commercial P&C Insurance — Workers' Compensation — Long-tail This product line has a substantial geographic spread and a broad mix across industries. Types of coverage include risk management business predominantly with high deductible policies, loss sensitive business (i.e., retrospectively-rated policies), business fronted for captives, as well as excess and primary guaranteed cost coverages. The triangle below shows all loss and allocated expense development for the workers' compensation product line. In our prior period development disclosure, we exclude any loss development where there is a directly related premium adjustment. For workers' compensation, changes in the exposure base due to payroll audits will drive changes in ultimate losses. In addition, we record involuntary pool assumptions (premiums and losses) on a lagged basis. Both of these items will influence the development in the triangle, particularly the first prior accident year, and are included in the reconciliation table presented on page F-60.
North America Commercial P&C Insurance — Liability — Long-tail This line consists of primary and excess liability exposures, including medical liability and professional lines, including directors and officers (D&O) liability, errors and omissions (E&O) liability, employment practices liability (EPL), fidelity bonds, and fiduciary liability. The primary and excess liability business represents the largest part of these exposures. The former includes both monoline and commercial package liability. The latter includes a substantial proportion of commercial umbrella, excess and high excess business, where loss activity can produce significant volatility in the loss triangles at later ages within an accident year (and sometimes across years) due to the size of the limits afforded and the complex nature of the underlying losses. This line includes management and professional liability products provided to a wide variety of clients, from national accounts to small firms along with private and not-for-profit organizations, distributed through brokers, agents, wholesalers and MGAs. Many of these coverages, particularly D&O and E&O, are typically written on a claims-made form. While most of the coverages are underwritten on a primary basis, there are significant amounts of excess exposure with large policy limits.
North America Commercial P&C Insurance — Other Casualty — Long-tail This product line consists of the remaining commercial casualty coverages such as automobile liability and aviation. There is also a small portion of commercial multi-peril (CMP) business in accident years 2014 and prior. The paid and reported data are impacted by some catastrophe loss activity primarily on the CMP exposures just noted.
North America Commercial P&C Insurance — Non-Casualty — Short-tail This product line represents first party commercial product lines that are short-tailed in nature, such as property, inland marine, ocean marine, surety and A&H. There is a wide diversity of products, primary and excess coverages, and policy sizes. During this ten-year period, this product line was also impacted by natural catastrophes mainly in the 2012, 2017, and 2018 accident years.
North America Personal P&C Insurance — Short-tail Chubb provides personal lines coverages for high-net-worth individuals and families in North America including homeowners, automobile, valuable articles (including fine art), umbrella liability, and recreational marine insurance offered through independent regional agents and brokers. A portfolio acquired from Fireman’s Fund is presented on a prospective basis beginning in May of accident year 2015. Reserves associated with prior accident periods were acquired through a loss portfolio transfer, which does not allow for a retrospective presentation. During this ten-year period, this segment was also impacted by natural catastrophes, mainly in 2012, 2017 and 2018 accident years.
Overseas General Insurance — Casualty — Long-tail This product line is comprised of D&O liability, E&O liability, financial institutions (including crime/fidelity coverages), and non-U.S. general liability as well as aviation and political risk. Exposures are located around the world, including Europe, Latin America, and Asia. Approximately 45 percent of Chubb Overseas General business is generated by European accounts, exclusive of Lloyd's market. There is some U.S. exposure in Casualty from multinational accounts and in financial lines for Lloyd's market. The financial lines coverages are typically written on a claims-made form, while general liability coverages are typically on an occurrence basis and comprised of a mix of primary and excess businesses.
Overseas General Insurance — Non-Casualty — Short-tail This product line is comprised of commercial fire, marine (predominantly cargo), surety, personal automobile (in Latin America, Asia Pacific and Japan), personal cell phones, personal residential (including high net worth), energy and construction. In general, these lines have relatively stable payment and reporting patterns although they are impacted by natural catastrophes mainly in the 2010, 2011, 2017, and 2018 accident years. Latin America and Europe each make up about 30 percent of the Chubb Overseas General non-casualty book.
Global Reinsurance Chubb analyzes its Global Reinsurance business on a treaty year basis rather than on an accident year basis. Treaty year data was converted to an accident year basis for the purposes of this disclosure. Mix shifts are an important consideration in these product line groupings. As proportional business and excess of loss business have different earning and loss reporting and payment patterns, this change in mix will affect the cash flow patterns across the accident years. In addition, the shift from excess to proportional business over time will make the cash flow patterns of older and more recent years difficult to compare. In general, the proportional business will pay out more quickly than the excess of loss business, as such, using older years development patterns may overstate the ultimate loss estimates in more recent years. Global Reinsurance — Casualty — Long-tail This product line includes proportional and excess coverages in general, automobile liability, professional liability, medical malpractice, workers' compensation and aviation, with exposures located around the world. In general, reinsurance exhibits less stable development patterns than primary business. In particular, general casualty reinsurance and excess coverages are long-tailed and can be very volatile.
Global Reinsurance — Non-Casualty — Short-tail This product line includes property, property catastrophe, marine, credit/surety, A&H and energy. This product line is impacted by natural catastrophes, particularly in the 2011, 2017 and 2018 accident years. Of the non-catastrophe book, the mixture of business varies by year with approximately 73 percent of loss on proportional treaties in treaty year 2010 and after. This percentage has increased over time with the proportion being approximately 58 percent for treaty years 2010 to 2012 growing to an average of 80 percent for treaty years 2013 to 2019, with the remainder being written on an excess of loss basis.
Prior Period Development — Supplementary Information The following table presents a reconciliation of the loss development triangles above to prior period development:
Prior Period Development Prior period development arises from changes to loss estimates recognized in the current year that relate to loss events that occurred in previous calendar years and excludes the effect of losses from the development of earned premium from previous accident years. Long-tail lines include lines such as workers' compensation, general liability, and professional liability; while short-tail lines include lines such as most property lines, energy, personal accident, and agriculture. The following table summarizes (favorable) and adverse prior period development (PPD) by segment:
Significant prior period movements by segment, principally driven by reserve reviews completed during each respective period, are discussed in more detail below. The remaining net development for long-tail lines and short-tail business for each segment and Corporate comprises numerous favorable and adverse movements across a number of lines and accident years, none of which is significant individually or in the aggregate. North America Commercial P&C Insurance 2019 North America Commercial P&C Insurance experienced net favorable PPD of $649 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
favorable development was mainly in accident years 2015 and prior, generally driven by lower than expected loss experience and related updates to loss development factors;
2018 North America Commercial P&C Insurance experienced net favorable PPD of $610 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2017 North America Commercial P&C Insurance experienced net favorable PPD of $746 million, representing 1.6 percent of the beginning consolidated net unpaid losses and loss expense reserves. North America Personal P&C Insurance 2019 North America Personal P&C Insurance incurred net favorable PPD of $95 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2018 North America Personal P&C Insurance incurred net adverse PPD of $41 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2017 North America Personal P&C Insurance incurred net adverse PPD of $69 million, representing 0.1 percent of the beginning consolidated net unpaid losses and loss expense reserves. North America Agricultural Insurance North America Agricultural Insurance experienced net favorable PPD of $80 million, $110 million, and $119 million in 2019, 2018, and 2017, respectively. Actual claim development mainly relates to our Multiple Peril Crop Insurance business and was favorable due to better than expected crop yield results in certain states at the prior year-end period (i.e., 2019 results based on crop yield results at year-end 2018). Overseas General Insurance 2019 Overseas General Insurance experienced net favorable PPD of $92 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2018 Overseas General Insurance experienced net favorable PPD of $212 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2017 Overseas General Insurance experienced net favorable PPD of $252 million, representing 0.5 percent of the beginning consolidated net unpaid losses and loss expense reserves. Global Reinsurance 2019 Global Reinsurance experienced net favorable PPD of $29 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2018 Global Reinsurance experienced net favorable PPD of $50 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:
2017 Global Reinsurance experienced net favorable PPD of $59 million, representing 0.1 percent of the beginning consolidated net unpaid losses and loss expense reserves. Corporate 2019 Corporate incurred adverse development of $153 million in long-tail lines, driven by the following principal changes:
2018 Corporate incurred adverse development of $45 million in long-tail lines, driven by the following principal changes:
2017 Corporate incurred adverse PPD of $278 million, representing 0.6 percent of the beginning consolidated net unpaid losses and loss expense reserves. Asbestos and environmental (A&E) Chubb's exposure to A&E claims principally arises out of liabilities acquired when it purchased Westchester Specialty in 1998, CIGNA's P&C business in 1999, and Chubb Corp in 2016. The following table presents a roll-forward of consolidated A&E loss reserves including allocated loss expense reserves for A&E exposures, and the provision for uncollectible paid and unpaid reinsurance recoverables:
The A&E net loss reserves including allocated loss expense reserves and provision for uncollectible reinsurance at December 31, 2019 and 2018 shown in the table above is comprised of:
Brandywine Run-off entities – The Restructuring Plan and uncertainties relating to Chubb's ultimate Brandywine exposure In 1996, the Pennsylvania Insurance Commissioner approved a plan to restructure INA Financial Corporation and its subsidiaries (the Restructuring) which included the division of Insurance Company of North America (INA) into two separate corporations: (1) An active insurance company that retained the INA name and continued to write P&C business; and (2) An inactive run-off company, now called Century Indemnity Company (Century). As a result of the division, predominantly all A&E and certain other liabilities of INA were ascribed to Century and extinguished, as a matter of Pennsylvania law, as liabilities of INA. As part of the Restructuring, most A&E liabilities of various U.S. affiliates of INA were reinsured to Century. Century and certain other run-off companies having A&E and other liabilities were contributed to Brandywine Holdings. The U.S.-based Chubb INA companies assumed two contractual obligations in respect of the Brandywine operations in connection with the Restructuring: a surplus maintenance obligation in the form of the excess of loss (XOL) agreement and a dividend retention fund obligation. XOL Agreement In 1996, in connection with the Restructuring, a Chubb INA insurance subsidiary provided reinsurance coverage to Century in the amount of $800 million under an Aggregate Excess of Loss Reinsurance Agreement (XOL Agreement), triggerable if the statutory capital and surplus of Century falls below $25 million or if Century lacks liquid assets with which to pay claims as they become due. Dividend Retention Fund INA Financial Corporation established and funded a dividend retention fund (the Dividend Retention Fund) consisting of $50 million plus investment earnings. The full balance of the Dividend Retention Fund was contributed to Century as of December 31, 2002. Under the Restructuring Order, while any obligation to maintain the Dividend Retention Fund is in effect, to the extent dividends are paid by INA Holdings Corporation to its parent, INA Financial Corporation, and to the extent INA Financial Corporation then pays such dividends to INA Corporation, a portion of those dividends must be withheld to replenish the principal of the Dividend Retention Fund to $50 million. During 2019, 2018, 2011 and 2010, $90 million, $50 million, $35 million and $15 million, respectively, were withheld from such dividends and deposited into the Dividend Retention Fund as a result of dividends paid up to the INA Corporation. Pursuant to a 2011 amendment to the Restructuring Order, capital contributions from the Dividend Retention Fund to Century are not required until the XOL Agreement has less than $200 million of capacity remaining on an incurred basis for statutory reporting purposes. The amount of the capital contribution shall be the lesser of the amount necessary to restore the XOL Agreement remaining capacity to $200 million or the Dividend Retention Fund balance. In 2019 and 2018, the Pennsylvania Department of Insurance approved a capital contribution of $64 million and $39 million, respectively, from the Dividend Retention Fund to Century in order to restore the XOL capacity to $200 million. The Dividend Retention Fund may not be terminated without prior written approval from the Pennsylvania Insurance Commissioner. Effective December 31, 2004, Chubb INA contributed $100 million to Century in exchange for a surplus note. After giving effect to the contribution and issuance of the surplus note, the statutory surplus of Century at December 31, 2019 was $25 million and $622 million in statutory-basis losses have been ceded to the XOL Agreement on an inception-to-date basis. Century reports the amount ceded under the XOL Agreement in accordance with statutory accounting principles, which differ from GAAP by, among other things, allowing Century to discount its liabilities, including certain asbestos related and environmental pollution liabilities and Century's reinsurance payable to active companies. For GAAP reporting purposes, intercompany reinsurance recoverables related to the XOL are eliminated upon consolidation. While Chubb believes it has no legal obligation to fund Century losses above the XOL limit of coverage, Chubb's consolidated results would nevertheless continue to include any losses above the limit of coverage for so long as the Brandywine companies remain consolidated subsidiaries of Chubb. Certain active Chubb companies are primarily liable for asbestos, environmental, and other exposures that they have reinsured to Century. Accordingly, if Century were to become insolvent and placed into rehabilitation or liquidation, some or all of the recoverables due to these active Chubb companies from Century could become uncollectible. At both December 31, 2019 and 2018, the aggregate reinsurance recoverables owed by Century to certain active Chubb companies were approximately $1.5 billion, on an undiscounted basis. Chubb believes the active company intercompany reinsurance recoverables, which relate to direct liabilities payable over many years, are not impaired. At December 31, 2019 and 2018, Century's carried gross reserves (including reserves assumed from the active Chubb companies) were $1.8 billion and $2.0 billion, respectively. Should Century's loss reserves experience adverse development in the future and should Century be placed into rehabilitation or liquidation, the reinsurance recoverables due from Century to certain active Chubb companies would be payable only after the payment in full of certain expenses and liabilities, including administrative expenses and direct policy liabilities. Thus, the intercompany reinsurance recoverables would be at risk to the extent of the shortage of assets remaining to pay these recoverables. Westchester Specialty – impact of NICO contracts on Chubb’s run-off entities As part of the Westchester Specialty acquisition in 1998, NICO provided a 75 percent pro-rata share of $1.0 billion of reinsurance protection on losses and loss adjustment expenses incurred on or before December 31, 1996, in excess of a retention of $721 million. At December 31, 2019, the remaining unused incurred limit under the Westchester NICO agreement was $384 million.
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxation | Taxation Under Swiss law through December 31, 2019, a resident company is subject to income tax at the federal, cantonal, and communal levels that is levied on net worldwide income. Income attributable to permanent establishments or real estate located abroad is excluded from the Swiss tax base. Chubb Limited is a holding company and, therefore, is exempt from cantonal and communal income tax. As a result, Chubb Limited is subject to Swiss income tax only at the federal level. Furthermore, participation relief (i.e., tax relief) is granted to Chubb Limited at the federal level for qualifying dividend income and capital gains related to the sale of qualifying participations (i.e., subsidiaries). It is expected that the participation relief will result in a full exemption of participation income from federal income tax. Chubb Limited is subject to an annual cantonal and communal capital tax on the taxable equity of Chubb Limited in Switzerland. Chubb has two Swiss operating subsidiaries, an insurance company, Chubb Insurance (Switzerland) Limited and a reinsurance company, Chubb Reinsurance (Switzerland) Limited. Both are subject to federal, cantonal, and communal income tax and to annual cantonal and communal capital tax. Under current Bermuda law, Chubb Limited and its Bermuda subsidiaries are not required to pay any taxes on income or capital gains. If a Bermuda law were enacted that would impose taxes on income or capital gains, Chubb Limited and the Bermuda subsidiaries have received an undertaking from the Minister of Finance in Bermuda that would exempt such companies from Bermudian taxation until March 2035. Income from Chubb's operations at Lloyd's is subject to United Kingdom (U.K.) corporation taxes. Lloyd's is required to pay U.S. income tax on U.S. connected income (U.S. income) written by Lloyd's syndicates. Lloyd's has a closing agreement with the Internal Revenue Service (IRS) whereby the amount of tax due on this business is calculated by Lloyd's and remitted directly to the IRS. These amounts are then charged to the accounts of Chubb's Corporate Members in proportion to their participation in the relevant syndicates. Chubb's Corporate Members are subject to this arrangement but, as U.K. domiciled companies, will receive U.K. corporation tax credits for any U.S. income tax incurred up to the value of the equivalent U.K. corporation income tax charge on the U.S. income. Chubb Group Holdings and its respective subsidiaries are subject to income taxes imposed by U.S. authorities and file a consolidated U.S. Federal income tax return. Should Chubb Group Holdings pay a dividend to Chubb Limited, withholding taxes would apply. Currently, however, no withholding taxes are accrued with respect to such un-remitted earnings as management has no intention of remitting these earnings. Similarly, no taxes have been provided on the un-remitted earnings of certain foreign subsidiaries (Hong Kong and Korea life companies) as management has no intention of remitting these earnings. The cumulative amount that would be subject to withholding tax, if distributed, as well as the determination of the associated tax liability are not practicable to compute; however, such amount would be material. Certain international operations of Chubb are also subject to income taxes imposed by the jurisdictions in which they operate. Chubb's domestic operations are in Switzerland, the jurisdiction where we are legally organized, incorporated, and registered. The following table presents pre-tax income and the related provision for income taxes:
The most significant jurisdictions contributing to the overall taxation of Chubb are calculated using the following rates in 2019: Switzerland 7.83 percent, Bermuda 0.0 percent, U.S. 21.0 percent, and U.K. 19.0 percent. The following table presents a reconciliation of the difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate:
The 2017 Tax Act, enacted in December 2017, among other things, reduced the U.S. Federal income tax rate from 35 percent to 21 percent effective in 2018. In the fourth quarter of 2017, we recorded a $450 million income tax benefit on a provisional basis, and an additional $25 million in 2018, principally reflecting this reduction in the U.S. corporate tax rate from 35 percent to 21 percent. Our final $475 million income tax benefit was comprised of a $743 million reduction in the deferred tax liabilities principally related to certain intangible assets, a $250 million reduction in net deferred tax assets related to other net assets, a net charge of $18 million related to the impact of excess foreign tax credits, withholding taxes associated with unremitted earnings and the impact of the reduced rate on our foreign branches. The 2018 change reflected the favorable impact of changes to certain tax only accounting methods offset by updates to provisional amounts recorded related to foreign tax credits and withholding taxes as a result of additional guidance issued during 2018. The following table presents the components of net deferred tax assets and liabilities:
The 2017 Tax Act also included provisions for Global Intangible Low-Taxed Income (GILTI) under which taxes may be imposed on income of foreign subsidiaries and for a Base Erosion and Anti-Abuse Tax (BEAT) under which taxes may be imposed on certain payments to affiliated foreign companies. We have evaluated the accounting policy election required with regard to the GILTI and BEAT provisions, and have concluded we will treat both as a period cost. As a result, we have recorded no related deferred taxes. The valuation allowance of $114 million at December 31, 2019, and $79 million at December 31, 2018, reflects management's assessment, based on available information, that it is more likely than not that a portion of the deferred tax assets will not be realized due to the inability of certain foreign subsidiaries to generate sufficient taxable income. Adjustments to the valuation allowance are made when there is a change in management's assessment of the amount of deferred tax assets that are realizable. At December 31, 2019, Chubb has net operating loss carry-forwards of $496 million which, if unused, will expire starting in 2020, and a foreign tax credit carry-forward in the amount of $247 million which, if unused, will expire starting in 2026. The following table presents a reconciliation of the beginning and ending amount of gross unrecognized tax benefits:
At December 31, 2019 and 2018, the gross unrecognized tax benefits of $47 million and $14 million, respectively, can be reduced by $19 million and nil, respectively, associated with foreign tax credits. The net amounts of $28 million and $14 million at December 31, 2019 and 2018, respectively, if recognized, would favorably affect the effective tax rate. It is reasonably possible that over the next twelve months, that the amount of unrecognized tax benefits may change resulting from the re-evaluation of unrecognized tax benefits arising from examinations by taxing authorities and the lapses of statutes of limitations. Chubb recognizes accruals for interest and penalties, if any, related to unrecognized tax benefits in income tax expense in the Consolidated statements of operations. Tax-related interest expense (income) and penalties reported in the Consolidated statements of operations were $5 million at December 31, 2019, and were immaterial for 2018, and 2017. Liabilities for tax-related interest and penalties in our Consolidated balance sheets were $8 million and $3 million at December 31, 2019 and 2018, respectively. In March 2017, the IRS commenced its field examination of Chubb Group Holdings’ U.S. Federal income tax returns for 2014 and 2015 and Chubb Corp’s U.S. Federal income tax return for 2014. The Chubb Group Holdings examination for 2014 and 2015 tax years is still ongoing with no material adjustments proposed to date. In February 2019, the IRS completed its examinations of Chubb Corp's 2014 return with no material adjustments. Chubb Corp's U.S. Federal income tax returns for 2015 and the short period return for 2016 were not examined by the IRS and the statute of limitations for those years closed during 2019. In September 2019, we were notified by the IRS of its intention to examine the 2016 and 2017 tax returns of Chubb Group Holdings. That examination is yet to begin. As a multinational company, we also have examinations under way in several foreign jurisdictions. With few exceptions, Chubb is no longer subject to income tax examinations for years prior to 2010. The following table summarizes tax years open for examination by major income tax jurisdiction:
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt | Debt
a) Repurchase agreements Chubb has executed repurchase agreements with certain counterparties under which Chubb agreed to sell securities and repurchase them at a future date for a predetermined price. b) Short-term debt Short-term debt comprises the current maturities of our long-term debt instruments described below. These short-term debt instruments were reclassified from long-term debt during 2019 and are reflected in the table above. Chubb INA Holdings Inc.'s (Chubb INA) $500 million of 5.9 percent senior notes due June 2019 was paid upon maturity. c) Long-term debt Certain of Chubb INA's senior notes and capital securities are redeemable at any time at Chubb INA's option subject to the provisions described in the table above. A "make-whole" premium is the present value of the remaining principal and interest discounted at the applicable U.S. Treasury rate. The senior notes and capital securities are also redeemable at par plus accrued and unpaid interest in the event of certain changes in tax law. The senior notes do not have the benefit of any sinking fund. These senior unsecured notes are guaranteed on a senior basis by Chubb Limited and they rank equally with all of Chubb's other senior obligations. They also contain customary limitations on lien provisions as well as customary events of default provisions which, if breached, could result in the accelerated maturity of such senior debt. In June 2019, Chubb INA issued €575 million ($650 million based on the foreign exchange rate at the date of issuance) of 0.875 percent Euro denominated senior notes due June 2027 and €575 million ($650 million based on the foreign exchange rate at the date of issuance) of 1.4 percent Euro denominated senior notes due June 2031. In December 2019, Chubb INA issued €700 million ($779 million based on the foreign exchange rate at the date of issuance) of 0.30 percent Euro denominated senior notes due December 2024 and €700 million ($779 million based on the foreign exchange rate at the date of issuance) of 0.875 percent Euro denominated senior notes due December 2029. These senior notes are redeemable at any time at Chubb INA's option subject to a “make-whole” premium (the present value of the remaining principal and interest discounted at the applicable comparable government bond rate plus 15 basis points for the senior notes due 2024, 20 basis points for the senior notes due 2027 and 2029 and 25 basis points for the senior notes due 2031). The notes are also redeemable at par plus accrued and unpaid interest in the event of certain changes in tax law. These notes do not have the benefit of any sinking fund. These senior unsecured notes are guaranteed on a senior basis by Chubb and they rank equally with all of Chubb's other senior obligations. They also contain customary limitations on lien provisions as well as customary events of default provisions which, if breached, could result in the accelerated maturity of such senior debt. d) Trust preferred securities In March 2000, ACE Capital Trust II, a Delaware statutory business trust, publicly issued $300 million of 9.7 percent Capital Securities (the Capital Securities) due to mature in April 2030. At the same time, Chubb INA purchased $9.2 million of common securities of ACE Capital Trust II. The sole assets of ACE Capital Trust II consist of $309 million principal amount of 9.7 percent Junior Subordinated Deferrable Interest Debentures (the Subordinated Debentures) issued by Chubb INA due to mature in April 2030. Distributions on the Capital Securities are payable semi-annually and may be deferred for up to ten consecutive semi-annual periods (but no later than April 1, 2030). Any deferred payments would accrue interest compounded semi-annually if Chubb INA defers interest on the Subordinated Debentures. Interest on the Subordinated Debentures is payable semi-annually. Chubb INA may defer such interest payments (but no later than April 1, 2030), with such deferred payments accruing interest compounded semi-annually. The Capital Securities and the ACE Capital Trust II Common Securities will be redeemed upon repayment of the Subordinated Debentures. Chubb Limited has guaranteed, on a subordinated basis, Chubb INA's obligations under the Subordinated Debentures, and distributions and other payments due on the Capital Securities. These guarantees, when taken together with Chubb's obligations under expense agreements entered into with ACE Capital Trust II, provide a full and unconditional guarantee of amounts due on the Capital Securities.
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Commitments, contingencies, and guarantees |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments, contingencies, and guarantees | Commitments, contingencies, and guarantees a) Derivative instruments Foreign currency management As a global company, Chubb entities transact business in multiple currencies. Our policy is to generally match assets, liabilities, and required capital for each individual jurisdiction in local currency, which would include the use of derivatives discussed below. We do not hedge our net asset non-U.S. dollar capital positions; however, we do consider economic hedging for planned cross border transactions. Derivative instruments employed Chubb maintains positions in derivative instruments such as futures, options, swaps, and foreign currency forward contracts for which the primary purposes are to manage duration and foreign currency exposure, yield enhancement, or to obtain an exposure to a particular financial market. Chubb also maintains positions in convertible securities that contain embedded derivatives. Investment derivative instruments are recorded in either Other assets (OA) or Accounts payable, accrued expenses, and other liabilities (AP), convertible bonds are recorded in Fixed maturities available for sale (FM AFS), and convertible equity securities are recorded in Equity securities (ES) in the Consolidated balance sheets. These are the most numerous and frequent derivative transactions. In addition, Chubb purchases to be announced mortgage-backed securities (TBAs) as part of its investing activities. Under reinsurance programs covering GLBs, Chubb assumes the risk of GLBs, (principally GMIB) associated with variable annuity contracts. The GMIB risk is triggered if, at the time the contract holder elects to convert the accumulated account value to a periodic payment stream (annuitize), the accumulated account value is not sufficient to provide a guaranteed minimum level of monthly income. The GLB reinsurance product meets the definition of a derivative instrument. Benefit reserves in respect of GLBs are classified as Future policy benefits (FPB) while the fair value derivative adjustment is classified within AP. Chubb also generally maintains positions in exchange-traded equity futures contracts on equity market indices to limit equity exposure in the GMDB and GLB book of business. All derivative instruments are carried at fair value with changes in fair value recorded in Net realized gains (losses) in the Consolidated statements of operations. None of the derivative instruments are designated as hedges for accounting purposes. The following table presents the balance sheet locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments:
At December 31, 2019 and 2018, derivative liabilities of $75 million and $95 million, respectively, included in the table above were subject to a master netting agreement. The remaining derivatives included in the table above were not subject to a master netting agreement. b) Derivative instrument objectives (i) Foreign currency exposure management A foreign currency forward contract (forward) is an agreement between participants to exchange specific foreign currencies at a future date. Chubb uses forwards to minimize the effect of fluctuating foreign currencies as discussed above. (ii) Duration management and market exposure Futures Futures contracts give the holder the right and obligation to participate in market movements, determined by the index or underlying security on which the futures contract is based. Settlement is made daily in cash by an amount equal to the change in value of the futures contract times a multiplier that scales the size of the contract. Exchange-traded futures contracts on money market instruments, notes and bonds are used in fixed maturity portfolios to more efficiently manage duration, as substitutes for ownership of the money market instruments, bonds and notes without significantly increasing the risk in the portfolio. Investments in futures contracts may be made only to the extent that there are assets under management not otherwise committed. Exchange-traded equity futures contracts are used to limit exposure to a severe equity market decline, which would cause an increase in expected claims and therefore, an increase in reserves for GMDB and GLB reinsurance business. Options An option contract conveys to the holder the right, but not the obligation, to purchase or sell a specified amount or value of an underlying security at a fixed price. Option contracts are used in our investment portfolio as protection against unexpected shifts in interest rates, which would affect the duration of the fixed maturity portfolio. By using options in the portfolio, the overall interest rate sensitivity of the portfolio can be reduced. Option contracts may also be used as an alternative to futures contracts in the synthetic strategy as described above. The price of an option is influenced by the underlying security, expected volatility, time to expiration, and supply and demand. The credit risk associated with the above derivative financial instruments relates to the potential for non-performance by counterparties. Although non-performance is not anticipated, in order to minimize the risk of loss, management monitors the creditworthiness of its counterparties and obtains collateral. The performance of exchange-traded instruments is guaranteed by the exchange on which they trade. For non-exchange-traded instruments, the counterparties are principally banks which must meet certain criteria according to our investment guidelines. Interest rate swaps An interest rate swap is a contract between two counterparties in which interest payments are made based on a notional principal amount, which itself is never paid or received. Under the terms of an interest rate swap, one counterparty makes interest payments based on a fixed interest rate and the other counterparty’s payments are based on a floating rate. Interest rate swap contracts are used occasionally in our investment portfolio as protection against unexpected shifts in interest rates, which would affect the fair value of the fixed maturity portfolio. By using interest rate swaps in the portfolio, the overall duration or interest rate sensitivity of the portfolio can be impacted. Cross-currency swaps Cross-currency swaps are agreements under which two counterparties exchange interest payments and principal denominated in different currencies at a future date. We use cross-currency swaps to reduce the foreign currency and interest rate risk by converting cash flows back into local currency. We invest in foreign currency denominated investments to improve credit diversification and also to obtain better duration matching to our liabilities that is limited in the local currency market. Other Included within Other are derivatives intended to reduce potential losses which may arise from certain exposures in our insurance business. The economic benefit provided by these derivatives is similar to purchased reinsurance. For example, Chubb may enter into crop derivative contracts to protect underwriting results in the event of a significant decline in commodity prices. (iii) Convertible security investments A convertible security is a debt instrument or preferred stock that can be converted into a predetermined amount of the issuer’s equity. The convertible option is an embedded derivative within the host instruments which are classified in the investment portfolio as either available for sale or as an equity security. Chubb purchases convertible securities for their total return and not specifically for the conversion feature. (iv) TBA By acquiring TBAs, we make a commitment to purchase a future issuance of mortgage-backed securities. For the period between purchase of the TBAs and issuance of the underlying security, we account for our position as a derivative in the consolidated financial statements. Chubb purchases TBAs both for their total return and for the flexibility they provide related to our mortgage-backed security strategy. (v) GLB Under the GLB program, as the assuming entity, Chubb is obligated to provide coverage until the expiration or maturity of the underlying deferred annuity contracts or the expiry of the reinsurance treaty. Premiums received under the reinsurance treaties are classified as premium. Expected losses allocated to premiums received are classified as Future policy benefits and valued similar to GMDB reinsurance. Other changes in fair value arise principally from changes in expected losses allocated to expected future premiums. Fair value represents management’s estimate of an exit price and thus, includes a risk margin. We may recognize a realized loss for other changes in fair value due to adverse changes in the capital markets (e.g., declining interest rates and/or declining U.S. and/or international equity markets) and changes in actual or estimated future policyholder behavior (e.g., increased annuitization or decreased lapse rates) although we expect the business to be profitable. To mitigate adverse changes in the capital markets, we maintain positions in exchange-traded equity futures contracts, as noted under section "(ii) Futures" above. These futures increase in fair value when the S&P 500 index decreases (and decrease in fair value when the S&P 500 index increases). The net impact of gains or losses related to changes in fair value of the GLB liability and the exchange-traded equity futures are included in Net realized gains (losses). c) Securities lending and secured borrowings Chubb participates in a securities lending program operated by a third-party banking institution whereby certain assets are loaned to qualified borrowers and from which we earn an incremental return. The securities lending collateral can only be drawn down by Chubb in the event that the institution borrowing the securities is in default under the lending agreement. An indemnification agreement with the lending agent protects us in the event a borrower becomes insolvent or fails to return any of the securities on loan. The collateral is recorded in Securities lending collateral and the liability is recorded in Securities lending payable in the Consolidated balance sheets. The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
At December 31, 2019 and 2018, our repurchase agreement obligations of $1,416 million and $1,418 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase obligations. The fair value of the underlying securities sold remains in Fixed maturities available for sale, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets. The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
Potential risks exist in our secured borrowing transactions due to market conditions and counterparty exposure. With collateral that we pledge, there is a risk that the collateral may not be returned at the expiration of the agreement. If the counterparty fails to return the collateral, Chubb will have free use of the borrowed funds until our collateral is returned. In addition, we may encounter the risk that Chubb may not be able to renew outstanding borrowings with a new term or with an existing counterparty due to market conditions including a decrease in demand as well as more restrictive terms from banks due to increased regulatory and capital constraints. Should this condition occur, Chubb may seek alternative borrowing sources or reduce borrowings. Additionally, increased margins and collateral requirements due to market conditions would increase our restricted assets as we are required to provide additional collateral to support the transaction. The following table presents net realized gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
d) Concentrations of credit risk Our investment portfolio is managed following prudent standards of diversification. Specific provisions limit the allowable holdings of a single issue and issuer. We believe that there are no significant concentrations of credit risk associated with our investments. Our three largest corporate exposures by issuer at December 31, 2019, were Wells Fargo & Co., Bank of America Corp, and JP Morgan Chase & Co. Our largest exposure by industry at December 31, 2019 was financial services. We market our insurance and reinsurance worldwide primarily through insurance and reinsurance brokers. We assume a degree of credit risk associated with brokers with whom we transact business. For the years ended December 31, 2019 and 2018, approximately 12 percent and 10 percent, respectively, of our gross premiums written was generated from or placed by Marsh & McLennan Companies, Inc. This entity is a large, well-established company, and there are no indications that it is financially troubled at December 31, 2019. No broker or one insured accounted for more than 10 percent of our gross premiums written for the year ended December 31, 2017. As discussed in Note 2, we committed to purchase an additional 22.4 percent interest in Huatai Group. In connection with these purchase agreements, in January 2020, we paid collateralized deposits totaling $1.550 billion to the selling shareholders, which are accounted for as loans. There is credit exposure with the current selling shareholders until the obligations under the purchase agreements are satisfied, which is expected by the end of 2021. e) Fixed maturities At December 31, 2019, we have commitments to purchase fixed income securities of $731 million over the next several years. f) Other investments At December 31, 2019, included in Other investments in the Consolidated balance sheet are investments in limited partnerships and partially-owned investment companies with a carrying value of $4.7 billion. In connection with these investments, we have commitments that may require funding of up to $3.3 billion over the next several years. g) Letters of credit On October 25, 2017, we entered into a credit facility that provides for up to $1.0 billion of availability, all of which may be used for the issuance of letters of credit and for revolving loans. We have the ability to increase the capacity under our existing credit facility to $2.0 billion under certain conditions, but any such increase would not raise the sub-limit for revolving loans above $1.0 billion. Our existing credit facility has a remaining term expiring in October 2022. At December 31, 2019, our LOC usage was $567 million. h) Legal proceedings Our insurance subsidiaries are subject to claims litigation involving disputed interpretations of policy coverages and, in some jurisdictions, direct actions by allegedly-injured persons seeking damages from policyholders. These lawsuits, involving claims on policies issued by our subsidiaries which are typical to the insurance industry in general and in the normal course of business, are considered in our loss and loss expense reserves. In addition to claims litigation, we are subject to lawsuits and regulatory actions in the normal course of business that do not arise from or directly relate to claims on insurance policies. This category of business litigation typically involves, among other things, allegations of underwriting errors or misconduct, employment claims, regulatory activity, or disputes arising from our business ventures. In the opinion of management, our ultimate liability for these matters could be, but we believe is not likely to be, material to our consolidated financial condition and results of operations. i) Lease commitments At December 31, 2019, the right-of-use asset was $551 million recorded within Other assets, and the lease liability was $603 million, which was recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheet. These leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease, which expire at various dates. As of December 31, 2019, the weighted average remaining lease term and weighted average discount rate for the operating leases was 5.4 years and 2.7 percent, respectively. Rent expense was $171 million, $169 million, and $211 million for the years ended December 31, 2019, 2018, and 2017, respectively. Future minimum lease payments under the operating leases are expected to be as follows:
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Shareholders' equity |
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| 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 2018 and 2017 annual general meetings, our shareholders approved an annual dividend for the following year of up to $2.92 per share and $2.84 per share, respectively, which was paid in four quarterly installments of $0.73 per share and $0.71 per share, respectively, at dates determined by the Board of Directors (Board) after the annual general meeting by way of a distribution from capital contribution reserves, transferred to free reserves for payment. At our May 2019 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.00 per share, expected to be paid in four quarterly installments of $0.75 per share after the annual general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board will determine the record and payment dates at which the annual dividend may be paid until the date of the 2020 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion. The first three quarterly installments each of $0.75 per share, have been distributed by the Board as expected. 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):
b) Shares issued, outstanding, authorized, and conditional
Increases in Common Shares in treasury are due to open market repurchases of Common Shares and 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, and purchases under the Employee Stock Purchase Plan (ESPP). Authorized share capital for general purposes The Board has shareholder-approved authority as set forth in the Articles of Association to increase for general purposes Chubb's share capital from time to time until May 17, 2020, by the issuance of up to 200,000,000 fully paid up Common Shares, with a par value equal to the par value of Chubb's Common Shares as set forth in the Articles of Association at the time of any such issuance. 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 24.15 as of December 31, 2019) 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 24.15 as of December 31, 2019) 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 of Directors has authorized share repurchase programs as follows:
Share repurchases may be in the open market, in privately negotiated transactions, block trades, accelerated repurchases and/or 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:
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.
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Share-based compensation |
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| Share-based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based compensation | Share-based compensation Chubb has share-based compensation plans which currently provide the Board the ability to grant awards of stock options, restricted stock, and restricted stock units to its employees and members of the Board. In May 2016, our shareholders approved the Chubb Limited 2016 Long-Term Incentive Plan (the 2016 LTIP), which replaced both the ACE Limited 2004 LTIP (the 2004 LTIP) and The Chubb Corporation Long-Term Incentive Plan (2014). The 2016 LTIP is substantially similar to the 2004 LTIP in its operation and the types of awards that may be granted. Under the 2016 LTIP, Common Shares of Chubb were authorized to be issued pursuant to awards made as stock options, stock appreciation rights, performance shares, performance units, restricted stock, and restricted stock units. Chubb principally issues restricted stock grants and stock options on a graded vesting schedule, with equal percentages of the award subject to vesting over a number of years (typically three or four). Chubb recognizes compensation cost for vesting of restricted stock and stock option grants with only service conditions on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award were, in-substance, multiple awards. We incorporate an estimate of future forfeitures in determining compensation cost for both grants of restricted stock and stock options. In addition, Chubb grants performance-based restricted stock to certain executives that vest based on certain performance criteria as compared to a defined group of peer companies. Performance-based stock awards comprise target awards and premium awards that cliff vest at the end of a 3-year performance period based on both our tangible book value (shareholders' equity less goodwill and intangible assets, net of tax) per share growth and P&C combined ratio compared to our peer group. Premium awards are subject to an additional vesting provision based on total shareholder return (TSR) compared to our peer group. Shares representing target awards and premium awards are issued when the awards are approved and are subject to forfeiture, if applicable performance criteria are not met at the end of the 3-year performance period. Prior to January 2017, performance-based restricted stock awards had a 4-year vesting period with the potential to vest as to a portion each year, and excluded the P&C combined ratio and TSR additional vesting criteria. Under the 2016 LTIP, 19,500,000 Common Shares are authorized to be issued. This is in addition to any shares that have not been delivered pursuant to the 2004 LTIP and remain available for grant pursuant to the 2004 LTIP and includes any shares covered by awards granted under the 2004 LTIP that have forfeited, expired or canceled after the effective date of the 2016 LTIP. At December 31, 2019, a total of 10,789,285 shares remain available for future issuance under the 2016 LTIP, which includes shares canceled or forfeited from the 2004 LTIP, in addition to common shares that were previously registered and authorized to be issued. Under the Employee Stock Purchase Plan (ESPP), 6,500,000 shares are authorized to be issued. At December 31, 2019, a total of 1,785,978 shares remain available for issuance under the ESPP. Chubb generally issues Common Shares for the exercise of stock options, restricted stock, and purchases under the ESPP from un-issued reserved shares (conditional share capital) and Common Shares in treasury. The following table presents pre-tax and after-tax share-based compensation expense:
Unrecognized compensation expense related to the unvested portion of Chubb's employee share-based awards of restricted stock, restricted stock units, and stock options was $205 million at December 31, 2019 and is expected to be recognized over a weighted-average period of approximately 1 year. Stock options Both incentive and non-qualified stock options are principally granted at an option price per share equal to the grant date fair value of Chubb's Common Shares. Stock options are generally granted with a 3-year vesting period and a 10-year term. Stock options vest in equal annual installments over the respective vesting period, which is also the requisite service period. Chubb's 2019 share-based compensation expense includes a portion of the cost related to the 2016 through 2019 stock option grants. Stock option fair value was estimated on the grant date using the Black-Scholes option-pricing model that uses the weighted-average assumptions noted below:
The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life (estimated period of time from grant to exercise date) is estimated using the historical exercise behavior of employees. For year 2019, expected volatility is calculated as a blend of (a) historical volatility based on daily closing prices over a period equal to the expected life assumption and (b) implied volatility derived from Chubb's publicly traded options. For years 2018 and 2017, expected volatility was calculated as a blend of (a) historical volatility based on daily closing prices over a period equal to the expected life assumption, (b) long-term historical volatility based on daily closing prices over the period from Chubb's initial public trading date through the most recent quarter, and (c) implied volatility derived from Chubb's publicly traded options. The following table presents a roll-forward of Chubb's stock options:
The weighted-average remaining contractual term was 6.1 years for stock options outstanding and 4.8 years for stock options exercisable at December 31, 2019. Cash received from the exercise of stock options for the year ended December 31, 2019 was $163 million. Restricted stock and restricted stock units Grants of restricted stock and restricted stock units awarded under both the 2004 LTIP and 2016 LTIP typically have a 4-year vesting period, subject to vesting as to one-quarter of the award each anniversary of grant. Restricted stock and restricted stock units are granted at market close price on the day of grant. Each restricted stock unit represents our obligation to deliver to the holder one Common Share upon vesting. Chubb also grants restricted stock awards to non-management directors which vest at the following year's annual general meeting. Chubb's 2019 share-based compensation expense includes a portion of the cost related to the restricted stock granted in the years 2015 through 2019. The following table presents a roll-forward of our restricted stock awards. Included in the roll-forward below are 19,019 restricted stock awards, 20,784 restricted stock awards, and 22,013 restricted stock awards that were granted to non-management directors during the years ended December 31, 2019, 2018, and 2017, respectively:
Prior to 2009, legacy ACE granted restricted stock units with a 1-year vesting period to non-management directors. Delivery of Common Shares on account of these restricted stock units to non-management directors is deferred until after the date of the non-management directors' termination from the Board. Legacy Chubb Corp historically allowed directors and certain key employees of Chubb Corp and its subsidiaries to defer a portion of their compensation earned with respect to services performed in the form of deferred stock units. In addition, legacy Chubb Corp provided supplemental retirement benefits for certain employees through its Defined Contribution Excess Benefit Plan in the form of deferred shares of stock. The minimum vesting period under these legacy Chubb Corp deferred plans was 1-year and the maximum was 3-years. Employees and directors had the option to elect to receive their awards at a future specified date or upon their termination of service with Chubb. At December 31, 2019, there were 201,666 deferred restricted stock units. ESPP The ESPP gives participating employees the right to purchase Common Shares through payroll deductions during consecutive subscription periods at a purchase price of 85 percent of the fair value of a Common Share on the exercise date (Purchase Price). Annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent of the participant's compensation or $25,000, whichever is less. The ESPP has two six-month subscription periods each year, the first of which runs between January 1 and June 30 and the second of which runs between July 1 and December 31. The amounts collected from participants during a subscription period are used on the exercise date to purchase full shares of Common Shares. An exercise date is generally the last trading day of a subscription period. The number of shares purchased is equal to the total amount, at the exercise date, collected from the participants through payroll deductions for that subscription period, divided by the Purchase Price, rounded down to the next full share. Participants may withdraw from an offering before the exercise date and obtain a refund of amounts withheld through payroll deductions. Pursuant to the provisions of the ESPP, during the years ended December 31, 2019, 2018, and 2017, employees paid $41 million, $37 million, and $34 million to purchase 321,800 shares, 347,116 shares, and 271,185 shares, respectively.
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Postretirement benefits |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement benefits | Postretirement benefits Chubb provides postretirement benefits to eligible employees and their dependents through various defined contribution plans sponsored by Chubb. In addition, for certain employees, Chubb sponsors other postretirement benefit plans, and prior to 2020, Chubb sponsored defined benefit pension plans. Defined contribution plans (including 401(k)) Under these plans, employees' contributions may be supplemented by Chubb matching contributions based on the level of employee contribution. These contributions are invested at the election of each employee in one or more of several investment portfolios offered by a third-party investment advisor. Expenses for these plans totaled $171 million, $171 million, and $166 million for the years ended December 31, 2019, 2018, and 2017, respectively. Defined benefit pension plans We maintain non-contributory defined benefit pension plans that cover certain employees located in the U.S., U.K., Canada, and various other statutorily required countries. We account for pension benefits using the accrual method. Benefits under these plans are based on employees' years of service and compensation during final years of service. All underlying plans are subject to periodic actuarial valuations by qualified actuarial firms using actuarial models to calculate the expense and liability for each plan. We use December 31 as the measurement date for our defined benefit pension plans. Under the Chubb Corp plans, prior to 2001, benefits were generally based on an employee’s years of service and average compensation during the last five years of employment. Effective January 1, 2001, the formula for providing pension benefits was changed from the final average pay formula to a cash balance formula. Under the cash balance formula, a notional account is established for each employee, which is credited semi-annually with an amount equal to a percentage of eligible compensation based on age and years of service plus interest based on the account balance. Chubb Corp employees hired prior to 2001 will generally be eligible to receive vested benefits based on the higher of the final average pay or cash balance formulas. Other postretirement benefit plans Our assumption of Chubb Corp's other postretirement benefit plans, principally healthcare and life insurance, covers retired employees, their beneficiaries, and covered dependents. Healthcare coverage is contributory. Retiree contributions vary based upon the retiree’s age, type of coverage, and years of service requirements. Life insurance coverage is non-contributory. Chubb funds a portion of the healthcare benefits obligation where such funding can be accomplished on a tax-effective basis. Benefits are paid as covered expenses are incurred. Amendments to U.S. qualified and excess pension plans and U.S. retiree healthcare plan On October 31, 2016, we harmonized and amended several of our U.S. retirement programs to create a unified retirement savings program. In 2020, we transitioned from a traditional defined benefit pension program that had been in effect for certain employees to a defined contribution program. Additionally, after 2025, we plan to eliminate a subsidized U.S. retiree healthcare and life insurance plan that had been in place for certain employees. Both amendments required a remeasurement of the plan assets and benefit obligations with updated assumptions, including discount rates and the expected return on assets. The amendment of the retiree healthcare plan resulted in a reduction in the obligation of $383 million, of which $410 million will be amortized as a reduction to expense through 2021 as it relates to benefits already accrued. For the years ended December 31, 2019, 2018, and 2017, $79 million, $80 million, and $89 million, respectively, were amortized as a reduction to expense. At December 31, 2019, the remaining curtailment benefit balance was $105 million which will be amortized as a reduction to expense over the next 1.5 years. Obligations and funded status The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in Accumulated other comprehensive income at December 31, 2019 and 2018 was as follows:
For the U.S. pension plans, the $443 million actuarial loss experienced in 2019 was principally driven by the decrease in the discount rate from 2018 that was used to determine the projected benefit obligation at December 31, 2019. The $214 million actuarial gain experienced in 2018 was largely driven by the increase in the discount rate from 2017 that was used to determine the projected benefit obligation at December 31, 2018. The accumulated benefit obligation for the pension benefit plans was $4.6 billion and $4.0 billion at December 31, 2019 and 2018, respectively. The accumulated benefit obligation is the present value of pension benefits earned as of the measurement date based on employee service and compensation prior to that date. It differs from the pension (projected) benefit obligation in the table above in that the accumulated benefit obligation includes no assumptions regarding future compensation levels. The net components of the funded status of the pension and other postretirement benefit plans are included in Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. Chubb’s funding policy is to contribute amounts that meet regulatory requirements plus additional amounts determined based on actuarial valuations, market conditions and other factors. All benefit plans satisfy minimum funding requirements of the Employee Retirement Income Security Act of 1974 (ERISA). The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2019 and 2018:
For other postretirement benefit plans with an accumulated benefit obligation in excess of plan assets, the accumulated benefit obligation was $25 million and $23 million at December 31, 2019 and 2018, respectively. These plans have no plan assets. At December 31, 2019, we estimate that we will contribute $23 million to the pension plans and $1 million to the other postretirement benefits plan in 2020. The estimate is subject to change due to contribution decisions that are affected by various factors including our liquidity, market performance and management discretion. The weighted-average assumptions used to determine the projected benefit obligation were as follows:
(1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019. The projected benefit cash flows were discounted using the corresponding spot rates derived from a yield curve, which resulted in a single discount rate that would produce the same liability at the respective measurement dates. The same process was applied to service cost cash flows to determine the discount rate associated with the service cost. In general, the discount rates for the non-U.S. plans were developed using a similar methodology by using country-specific yield curves. The components of net pension and other postretirement benefit costs reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:
The service and non-service cost components of net periodic (benefit) cost reflected in the Consolidated statements of operations were as follows:
The weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:
The weighted-average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:
Plan Assets The long term objective of the pension plan is to provide sufficient funding to cover expected benefit obligations, while assuming a prudent level of portfolio risk. The assets of the pension plan are invested, either directly or through pooled funds, in a diversified portfolio of predominately equity securities and fixed maturities. We seek to obtain a rate of return that over time equals or exceeds the returns of the broad markets in which the plan assets are invested. The target allocation of plan assets is 55 percent to 65 percent invested in equity securities (including certain other investments measured using NAV), with the remainder primarily invested in fixed maturities. We rebalance our pension assets to the target allocation as market conditions permit. We determined the expected long term rate of return assumption for each asset class based on an analysis of the historical returns and the expectations for future returns. The expected long term rate of return for the portfolio is a weighted aggregation of the expected returns for each asset class. In order to minimize risk, the Plan maintains a listing of permissible and prohibited investments. In addition, the Plan has certain concentration limits and investment quality requirements imposed on permissible investments options. Investment risk is measured and monitored on an ongoing basis. The following tables present the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 4 to the Consolidated financial statements.
The other postretirement benefit plan had $152 million and $143 million of other investments measured using NAV as a practical expedient at December 31, 2019 and 2018, respectively. Expected future benefit payments are as follows:
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Other (income) expense |
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other (income) expense | Other income and expense
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment information | Segment information Chubb operates through six business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. These segments distribute their products through various forms of brokers, agencies, and direct marketing programs. All business segments have established relationships with reinsurance intermediaries.
Corporate primarily includes the results of all run-off asbestos and environmental (A&E) exposures, our run-off Brandywine business, and our Westchester specialty operations for 1996 and prior years, and certain other non-A&E run-off exposures. In addition, Corporate includes the results of our non-insurance companies including Chubb Limited, Chubb Group Management and Holdings Ltd., and Chubb INA Holdings Inc. Our exposure to A&E claims principally arises out of liabilities acquired when we purchased Westchester Specialty in 1998, CIGNA’s P&C business in 1999, and Chubb Corp in 2016. In addition, revenue and expenses managed at the corporate level, including realized gains and losses, interest expense, the non-operating income of our partially-owned entities, and income taxes are reported within Corporate. Chubb integration expenses are also reported within Corporate. Chubb integration expenses are one-time costs that are directly attributable to the achievement of the annualized savings, including employee severance, third-party consulting fees, and systems integration expenses. These items will not be allocated to the segment level as they are one-time in nature and are not related to the ongoing business activities of the segment. The Chief Executive Officer does not manage segment results or allocate resources to segments when considering these costs and they are therefore excluded from our definition of segment income (loss). Therefore, segment income (loss) will only include underwriting income (loss), net investment income (loss), and other operating income and expense items such as each segment's share of the operating income (loss) related to partially-owned entities and miscellaneous income and expense items for which the segments are held accountable. Segment income (loss) also includes amortization of purchased intangibles related to business combination intangible assets acquired by the segment and other purchase accounting related intangible assets, including agency relationships, renewal rights, and client lists. The amortization of intangible assets purchased as part of the Chubb Corp acquisition is considered a Corporate cost as these are incurred by the overall company. We determined that this definition of segment income (loss) is appropriate and aligns with how the business is managed. We continue to evaluate our segments as our business continues to evolve and may further refine our segments and segment income (loss) measures. For segment reporting purposes, certain items are presented in a different manner below than in the consolidated financial statements. Management uses underwriting income (loss) as the main measures of segment performance. Chubb calculates underwriting income (loss) by subtracting Losses and loss expenses, Policy benefits, Policy acquisition costs, and Administrative expenses from Net premiums earned. To calculate Segment income (loss), include Net investment income (loss), Other (income) expense, and Amortization expense of purchased intangibles. For the North America Agricultural Insurance segment, management includes gains and losses on crop derivatives as a component of underwriting income (loss). For example, for the year ended December 31, 2019, underwriting income in our North America Agricultural Insurance segment was $89 million. This amount includes $8 million of realized losses related to crop derivatives which are reported in Net realized gains (losses) including OTTI in the Corporate column below. For the Life Insurance segment, management includes Net investment income (loss) and (Gains) losses from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP as components of Life Insurance underwriting income (loss). For example, for the year ended December 31, 2019, Life Insurance underwriting income of $320 million includes Net investment income of $373 million and gains from fair value changes in separate account assets of $44 million. The gains from fair value changes in separate account assets are reported in Other (income) expense in the table below. The following tables present the Statement of Operations by segment:
Underwriting assets are reviewed in total by management for purposes of decision-making. Other than Unpaid losses and loss expenses, Reinsurance recoverables, Goodwill and Other intangible assets, Chubb does not allocate assets to its segments. The following table presents net premiums earned for each segment by line of business:
The following table presents net premiums earned by geographic region. Allocations have been made on the basis of location of risk:
(1) Europe includes Eurasia and Africa regions.
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Earnings per share |
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| Earnings per share | Earnings per share
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| Related party transactions | Related party transactions Starr Indemnity & Liability Company and its affiliates (collectively, Starr) We have a number of agency and reinsurance agreements with Starr, the Chairman of which is related to a member of our senior management team. The Board has reviewed and approved our arrangements with Starr. We have agency, claims services and underwriting services agreements with various Starr subsidiaries. Under the agency agreements, we secure the ability to sell our insurance policies through Starr as one of our non-exclusive agents for writing policies, contracts, binders, or agreements of insurance or reinsurance. Under the claims services agreements, Starr adjusts the claims under policies and arranges for third party treaty and facultative agreements covering such policies. Under the underwriting services agreements, Starr underwrites insurance policies on our behalf and we agree to reinsure such policies to Starr under one or more quota reinsurance agreements. Certain agency agreements also contain a profit-sharing arrangement based on loss ratios, triggered if Starr underwrites a minimum of $20 million of annual program business net premiums written on our behalf. No profit share commission has been payable yet under this arrangement. Another agency agreement contains a profit-sharing arrangement based on the earned premiums for the business underwritten by Starr (excluding workers’ compensation) and the reinsurance recoveries associated with excess of loss reinsurance agreements placed by Starr for the business underwritten. No profit share commission under this arrangement has been payable yet. Transactions generated under Starr agreements were as follows:
ABR Re We own 12.2 percent of the common equity of ABR Reinsurance Capital Holdings Ltd. and warrants to acquire 0.5 percent of additional equity. ABR Reinsurance Capital Holdings Ltd., is the parent company of ABR Reinsurance Ltd. (ABR Re), an independent reinsurance company. Through long-term arrangements, Chubb will be the sole source of reinsurance risks ceded to ABR Re, and BlackRock, Inc. will be ABR Re’s exclusive investment management service provider. As an investor, Chubb is expected to benefit from underwriting profit generated by ABR Re’s reinsuring a wide range of Chubb’s primary insurance business and the income and capital appreciation BlackRock, Inc. seeks to deliver through its investment management services. In addition, Chubb has entered into an arrangement with BlackRock, Inc. under which both Chubb and BlackRock, Inc. will be entitled to an equal share of the aggregate amount of certain fees, including underwriting and investment management performance related fees, in connection with their respective reinsurance and investment management arrangements with ABR Re. ABR Re is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate ABR Re because Chubb does not have the power to control and direct ABR Re’s most significant activities, including investing and underwriting. Our minority ownership interest is accounted for under the equity method of accounting. Chubb cedes premiums to ABR Re and recognizes the associated commissions. Transactions generated under ABR Re agreements were as follows:
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Statutory Financial Information |
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| Statutory financial information | Statutory financial information Our subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators. Statutory accounting differs from GAAP in the reporting of certain reinsurance contracts, investments, subsidiaries, acquisition expenses, fixed assets, deferred income taxes, and certain other items. Some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements. In some jurisdictions, we must obtain licenses issued by governmental authorities to conduct local insurance business. These licenses may be subject to reserves and minimum capital and solvency tests. Jurisdictions may impose fines, censure, and/or criminal sanctions for violation of regulatory requirements. The 2019 amounts below are based on estimates. Chubb's insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate. These regulations include restrictions that limit the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the local insurance regulatory authorities. The amount of dividends available to be paid in 2020 without prior approval totals $6.5 billion. The statutory capital and surplus of our insurance subsidiaries met regulatory requirements for 2019, 2018, and 2017. The minimum amounts of statutory capital and surplus necessary to satisfy regulatory requirements was $26.3 billion and $24.2 billion for December 31, 2019 and 2018, respectively. These minimum regulatory capital requirements were significantly lower than the corresponding amounts required by the rating agencies which review Chubb’s insurance and reinsurance subsidiaries. The following tables present the combined statutory capital and surplus and statutory net income (loss) of our Property and casualty and Life subsidiaries:
Several insurance subsidiaries follow accounting practices prescribed or permitted by the jurisdiction of domicile that differ from the applicable local statutory practice. The application of prescribed or permitted accounting practices does not have a material impact on Chubb's statutory surplus and income. As prescribed by the Restructuring discussed previously in Note 7, certain of our U.S. subsidiaries discount certain A&E liabilities, which increased statutory capital and surplus by approximately $147 million and $160 million at December 31, 2019 and 2018, respectively. Federal Insurance Company (Federal), a direct subsidiary of Chubb INA Holdings Inc., has a permitted practice granted by the Indiana Department of Insurance that relates to its investments in foreign subsidiaries and affiliates. Under Statement of Statutory Accounting Principles No. 97, Investments in Subsidiary, Controlled and Affiliated Entities, A Replacement of SSAP No. 88, in order for a reporting entity to admit its investments in foreign subsidiaries and affiliates, audited financial statements of the subsidiary or affiliate must be obtained to support the carrying value. Such financial statements must be prepared in accordance with U.S. GAAP, or alternatively, in accordance with the local statutory requirements in the subsidiary’s or affiliate’s country of domicile, with an audited footnote reconciliation of net income and shareholder’s equity as reported to a U.S. GAAP basis. With the explicit permission of the Indiana Department of Insurance, Federal obtains audited financial statements for its admitted foreign subsidiaries and affiliates, which had an aggregate carrying value of approximately $54 million and $178 million at December 31, 2019 and 2018, respectively, prepared in accordance with their respective local statutory requirements and supplemented with a separate unaudited reconciliation of shareholder’s equity as reported to a U.S. GAAP basis.
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Information provided in connection with outstanding debt of subsidiaries |
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| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Information provided in connection with outstanding debt of subsidiaries | Information provided in connection with outstanding debt of subsidiaries The following tables present condensed consolidating financial information at December 31, 2019 and December 31, 2018, and for the years ended December 31, 2019, 2018, and 2017 for Chubb Limited (Parent Guarantor) and Chubb INA Holdings Inc. (Subsidiary Issuer). The Subsidiary Issuer is an indirect 100 percent-owned subsidiary of the Parent Guarantor. The Parent Guarantor fully and unconditionally guarantees certain of the debt of the Subsidiary Issuer. Condensed consolidating financial information of the Parent Guarantor and Subsidiary Issuer are presented on the equity method of accounting. The revenues and expenses and cash flows of the subsidiaries of the Subsidiary Issuer are presented in the Other Chubb Limited Subsidiaries column on a combined basis. Condensed Consolidating Balance Sheet at December 31, 2019
Subsequent Events In January 2020, Chubb INA Holdings Inc. paid $1.5 billion towards the series of intercompany loans involving its parents, Chubb Group Holdings Inc. and Chubb Limited. Additionally, Chubb Limited contributed $1.2 billion to a subsidiary included in Other Chubb Limited Subsidiaries. Condensed Consolidating Balance Sheet at December 31, 2018
Condensed Consolidating Statements of Operations and Comprehensive Income
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Condensed Consolidating Statements of Operations and Comprehensive Income
Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
(1) Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2017 and 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
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Condensed Unaudited Quarterly Financial Data |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed unaudited quarterly financial data | Condensed unaudited quarterly financial data
Net income for the three months ended December 31, 2018 included after-tax catastrophe losses of $506 million.
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Schedule I |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule I: SUMMARY OF INVESTEMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES | SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES
(1) Excludes $147 million of related party investments.
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Schedule II |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT | CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS (Parent Company Only)
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto. CONDENSED FINANCIAL INFORMATION OF REGISTRANT STATEMENTS OF OPERATIONS (Parent Company Only)
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto. STATEMENTS OF CASH FLOWS (Parent Company Only)
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.
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Schedule IV |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE | SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE
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Schedule VI |
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| SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS | SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS
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Summary of significant accounting policies (Policies) |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||
| Basis of presentation | Basis of presentation Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 15 for additional information. The accompanying consolidated financial statements, which include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, including internal reinsurance transactions, have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Amounts included in the Consolidated financial statements reflect our best estimates and assumptions; actual amounts could differ materially from these estimates. Chubb's principal estimates include:
• the assessment of goodwill for impairment.
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| Premiums | Premiums Premiums are generally recorded as written upon inception of the policy. For multi-year policies for which premiums written are payable in annual installments, only the current annual premium is included as written at policy inception due to the ability of the insured/reinsured to commute or cancel coverage within the policy term. The remaining annual premiums are recorded as written at each successive anniversary date within the multi-year term. For property and casualty (P&C) insurance and reinsurance products, premiums written are primarily earned on a pro-rata basis over the policy terms to which they relate. Unearned premiums represent the portion of premiums written applicable to the unexpired portion of the policies in force. For retrospectively-rated policies, written premiums are adjusted to reflect expected ultimate premiums consistent with changes to incurred losses, or other measures of exposure as stated in the policy, and earned over the policy coverage period. Mandatory reinstatement premiums assessed on reinsurance policies are earned in the period of the loss event that gave rise to the reinstatement premiums. All remaining unearned premiums are recognized over the remaining coverage period. Premiums from long-duration contracts such as certain traditional term life, whole life, endowment, and long-duration personal accident and health (A&H) policies are generally recognized as revenue when due from policyholders. Traditional life policies include those contracts with fixed and guaranteed premiums and benefits. Benefits and expenses are matched with income to result in the recognition of profit over the life of the contracts. Retroactive loss portfolio transfer (LPT) contracts in which the insured loss events occurred prior to contract inception are evaluated to determine whether they meet criteria for reinsurance accounting. If reinsurance accounting is appropriate, written premiums are fully earned and corresponding losses and loss expenses recognized at contract inception. These contracts can cause significant variances in gross premiums written, net premiums written, net premiums earned, and net incurred losses in the years in which they are written. Reinsurance contracts sold not meeting the criteria for reinsurance accounting are recorded using the deposit method as described below in Note 1 k). Reinsurance premiums assumed are based on information provided by ceding companies supplemented by our own estimates of premium when we have not received ceding company reports. Estimates are reviewed and adjustments are recorded in the period in which they are determined. Premiums are earned over the coverage terms of the related reinsurance contracts and range from one to three years.
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| Deferred policy acquisition costs and value of business acquired | Deferred policy acquisition costs and value of business acquired Policy acquisition costs consist of commissions (direct and ceded), premium taxes, and certain underwriting costs related directly to the successful acquisition of new or renewal insurance contracts. A VOBA intangible asset is established upon the acquisition of blocks of long-duration contracts in a business combination and represents the present value of estimated net cash flows for the contracts in force at the acquisition date. Acquisition costs and VOBA, collectively policy acquisition costs, are deferred and amortized. Amortization is recorded in Policy acquisition costs in the Consolidated statements of operations. Policy acquisition costs on P&C contracts are generally amortized ratably over the period in which premiums are earned. Policy acquisition costs on traditional long-duration contracts are amortized over the estimated life of the contracts, generally in proportion to premium revenue recognized based upon the same assumptions used in estimating the liability for future policy benefits. For non-traditional long-duration contracts, we amortize policy acquisition costs over the expected life of the contracts in proportion to expected gross profits. The effect of changes in estimates of expected gross profits is reflected in the period the estimates are revised. Policy acquisition costs are reviewed to determine if they are recoverable from future income, including investment income. Unrecoverable policy acquisition costs are expensed in the period identified. Advertising costs are expensed as incurred except for direct-response campaigns that qualify for cost deferral, principally related to long-duration A&H business produced by the Overseas General Insurance segment, which are deferred and recognized as a component of Policy acquisition costs. For individual direct-response marketing campaigns that we can demonstrate have specifically resulted in incremental sales to customers and such sales have probable future economic benefits, incremental costs directly related to the marketing campaigns are capitalized as Deferred policy acquisition costs. Deferred policy acquisition costs, including deferred marketing costs, are reviewed regularly for recoverability from future income, including investment income, and amortized in proportion to premium revenue recognized, primarily over a ten-year period, the expected economic future benefit period based upon the same assumptions used in estimating the liability for future policy benefits. The expected future benefit period is evaluated periodically based on historical results and adjusted prospectively. The amount of deferred marketing costs reported in Deferred policy acquisition costs in the Consolidated balance sheets was $246 million and $255 million at December 31, 2019 and 2018, respectively. Amortization expense for deferred marketing costs was $109 million, $114 million, and $116 million for the years ended December 31, 2019, 2018, and 2017, respectively.
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| Reinsurance | Reinsurance Chubb assumes and cedes reinsurance with other insurance companies to provide greater diversification of business and minimize the net loss potential arising from large risks. Ceded reinsurance contracts do not relieve Chubb of its primary obligation to policyholders. For both ceded and assumed reinsurance, risk transfer requirements must be met in order to account for a contract as reinsurance, principally resulting in the recognition of cash flows under the contract as premiums and losses. To meet risk transfer requirements, a reinsurance contract must include insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity. To assess risk transfer for certain contracts, Chubb generally develops expected discounted cash flow analyses at contract inception. Deposit accounting is used for contracts that do not meet risk transfer requirements. Deposit accounting requires that consideration received or paid be recorded in the balance sheet as opposed to recording premiums written or losses incurred in the statement of operations. Non-refundable fees on deposit contracts are earned based on the terms of the contract described below in Note 1 k). Reinsurance recoverable includes balances due from reinsurance companies for paid and unpaid losses and loss expenses and future policy benefits that will be recovered from reinsurers, based on contracts in force. The method for determining the reinsurance recoverable on unpaid losses and loss expenses incurred but not reported (IBNR) involves actuarial estimates consistent with those used to establish the associated liability for unpaid losses and loss expenses as well as a determination of Chubb's ability to cede unpaid losses and loss expenses under the terms of the reinsurance agreement. Reinsurance recoverable is presented net of a provision for uncollectible reinsurance determined based upon a review of the financial condition of reinsurers and other factors. The provision for uncollectible reinsurance is based on an estimate of the reinsurance recoverable balance that will ultimately be unrecoverable due to reinsurer insolvency, a contractual dispute, or any other reason. The valuation of this provision includes several judgments including certain aspects of the allocation of reinsurance recoverable on IBNR claims by reinsurer and a default analysis to estimate uncollectible reinsurance. The primary components of the default analysis are reinsurance recoverable balances by reinsurer, net of collateral, and default factors used to determine the portion of a reinsurer's balance deemed uncollectible. The definition of collateral for this purpose requires some judgment and is generally limited to assets held in a Chubb-only beneficiary trust, letters of credit, and liabilities held with the same legal entity for which Chubb believes there is a contractual right of offset. The determination of the default factor is principally based on the financial strength rating of the reinsurer. Default factors require considerable judgment and are determined using the current financial strength rating, or rating equivalent, of each reinsurer as well as other key considerations and assumptions. The more significant considerations include, but are not necessarily limited to, the following:
The methods used to determine the reinsurance recoverable balance and related provision for uncollectible reinsurance are regularly reviewed and updated, and any resulting adjustments are reflected in earnings in the period identified. The methods used to determine the provision for uncollectible high deductible recoverable amounts are similar to the processes used to determine the provision for uncollectible reinsurance recoverable. For additional information on high deductible policies, refer to section k) Unpaid losses and loss expenses, below. Prepaid reinsurance premiums represent the portion of premiums ceded to reinsurers applicable to the unexpired coverage terms of the reinsurance contracts in-force. The value of reinsurance business assumed of $6 million and $14 million at December 31, 2019 and 2018, respectively, included in Other assets in the accompanying Consolidated balance sheets, represents the excess of estimated ultimate value of the liabilities assumed under retroactive reinsurance contracts over consideration received. The value of reinsurance business assumed is amortized and recorded to Losses and loss expenses based on the payment pattern of the losses assumed and ranges between 9 and 40 years. The unamortized value is reviewed regularly to determine if it is recoverable based upon the terms of the contract, estimated losses and loss expenses, and anticipated investment income. Unrecoverable amounts are expensed in the period identified.
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| Investments | Investments Fixed maturities, equity securities, and short-term investments Fixed maturities are classified as either available for sale or held to maturity.
Equity securities are reported at fair value with changes in fair value recorded in net realized gains (losses) on the Consolidated statement of operations. Prior to January 1, 2018, changes in fair value were recorded as a separate component of AOCI in Shareholders' equity. Short-term investments comprise securities due to mature within one year of the date of purchase and are recorded at fair value which typically approximates cost. Interest, dividend income, and amortization of fixed maturity market premiums and discounts, related to these securities are recorded in Net investment income, net of investment management and custody fees, in the Consolidated statement of operations. In addition, net investment income includes the amortization of the fair value adjustment related to the acquired invested assets of The Chubb Corporation (Chubb Corp). An adjustment of $1,652 million related to the fair value of Chubb Corp’s fixed maturities securities was recorded (fair value adjustment) at the date of acquisition. At December 31, 2019, the remaining balance of this fair value adjustment was $332 million which is expected to amortize over the next three years; however, the estimate could vary materially based on current market conditions, bond calls, and the duration of the acquired investment portfolio. In addition, sales of these acquired fixed maturities would also reduce the fair value adjustment balance. For mortgage-backed securities and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised as necessary. Any adjustments required due to the resultant change in effective yields and maturities are recognized prospectively. Prepayment fees or call premiums that are only payable when a security is called prior to its maturity are earned when received and reflected in Net investment income. We regularly review our fixed maturities for other than temporary impairment (OTTI). Refer to Note 3 for additional information. With respect to fixed maturities where the decline in value is determined to be temporary and is not written down, a subsequent decision may be made to sell that security and realize a loss. Subsequent decisions on fixed maturities sales are the result of changing or unforeseen facts and circumstances (i.e., arising from a large insured loss such as a catastrophe), deterioration of the creditworthiness of the issuer or its industry, or changes in regulatory requirements. We believe that subsequent decisions to sell such securities are consistent with the classification of the majority of the portfolio as available for sale. Other investments Other investments principally comprise investment funds, limited partnerships, partially-owned investment companies, life insurance policies, policy loans, and non-qualified separate account assets. Investment funds and limited partnerships Investment funds, limited partnerships, and all other investments over which Chubb cannot exercise significant influence are accounted for as follows. Generally, we own less than three percent of the investee’s shares.
Partially-owned investment companies Partially-owned investment companies where our ownership interest is in excess of three percent are accounted for under the equity method because Chubb exerts significant influence. These investments apply investment company accounting to determine operating results, and Chubb retains the investment company accounting in applying the equity method.
Other
Investments in partially-owned insurance companies Investments in partially-owned insurance companies primarily represent direct investments in which Chubb has significant influence and as such, meet the requirements for equity accounting. Generally, we own twenty percent or more of the investee’s shares. We report our share of the net income or loss of the partially-owned insurance companies in Other (income) expense. Derivative instruments Chubb recognizes all derivatives at fair value in the Consolidated balance sheets in either Accounts payable, accrued expenses, and other liabilities or Other assets. Changes in fair value are included in Net realized gains (losses) in the Consolidated statements of operations. We did not designate any derivatives as accounting hedges. We participate in derivative instruments in two principal ways: (i) To sell protection to customers as an insurance or reinsurance contract that meets the definition of a derivative for accounting purposes. The reinsurance of GLBs was our primary product falling into this category; and (ii) To mitigate financial risks and manage certain investment portfolio risks and exposures, including assets and liabilities held in foreign currencies. We use derivative instruments including futures, options, swaps, and foreign currency forward contracts. Refer to Note 10 for additional information. Securities lending program Chubb participates in a securities lending program operated by a third-party banking institution whereby certain assets are loaned to qualified borrowers and from which we earn an incremental return which is recorded within Net investment income in the Consolidated statement of operations. Borrowers provide collateral, in the form of either cash or approved securities, at a minimum of 102 percent of the fair value of the loaned securities. Each security loan is deemed to be an overnight transaction. Cash collateral is invested in a collateral pool which is managed by the banking institution. The collateral pool is subject to written investment guidelines with key objectives which include the safeguard of principal and adequate liquidity to meet anticipated redemptions. The fair value of the loaned securities is monitored on a daily basis, with additional collateral obtained or refunded as the fair value of the loaned securities changes. The collateral is held by the third-party banking institution, and the collateral can only be accessed in the event that the institution borrowing the securities is in default under the lending agreement. As a result of these restrictions, we consider our securities lending activities to be non-cash investing and financing activities. An indemnification agreement with the lending agent protects us in the event a borrower becomes insolvent or fails to return any of the securities on loan. The fair value of the securities on loan is included in fixed maturities and equity securities in the Consolidated balance sheets. The securities lending collateral is reported as a separate line in the Consolidated balance sheets with a related liability reflecting our obligation to return the collateral plus interest. Repurchase agreements Similar to securities lending arrangements, securities sold under repurchase agreements, whereby Chubb sells securities and repurchases them at a future date for a predetermined price, are accounted for as collateralized investments and borrowings and are recorded at the contractual repurchase amounts plus accrued interest. Assets to be repurchased are the same or substantially the same as the assets transferred, and the transferor, through right of substitution, maintains the right and ability to redeem the collateral on short notice. The fair value of the underlying securities is included in fixed maturities and equity securities. In contrast to securities lending programs, the use of cash received is not restricted. We report the obligation to return the cash as Repurchase agreements in the Consolidated balance sheets and record the fees under these repurchase agreements within Interest expense on the Consolidated statement of operations. Refer to Note 4 for a discussion on the determination of fair value for Chubb's various investment securities.
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| Cash | Cash Cash includes cash on hand and deposits with an original maturity of three months or less at time of purchase. We have agreements with a third-party bank provider which implemented two international multi-currency notional cash pooling programs. In each program, participating Chubb entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency (U.S. dollars) and then notionally pooled. The bank extends overdraft credit to any participating Chubb entity as needed, provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero. Actual cash balances are not physically converted and are not commingled between legal entities. Any overdraft balances incurred under this program by a Chubb entity would be guaranteed by Chubb Limited (up to $300 million in the aggregate). Our syndicated letter of credit facility allows for same day drawings to fund a net pool overdraft should participating Chubb entities overdraw contributed funds from the pool. Restricted cash Restricted cash in the Consolidated balance sheets represents amounts held for the benefit of third parties and is legally or contractually restricted as to withdrawal or usage. Amounts include deposits with U.S. and non-U.S. regulatory authorities, trust funds set up for the benefit of ceding companies, and amounts pledged as collateral to meet financing arrangements.
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| Goodwill and other intangible assets | Goodwill and Other intangible assets Goodwill represents the excess of the cost of acquisitions over the fair value of net assets acquired and is not amortized. Goodwill is assigned at acquisition to the applicable reporting unit of the acquired entities giving rise to the goodwill. Goodwill impairment tests are performed annually or more frequently if circumstances indicate a possible impairment. For goodwill impairment testing, we use a qualitative assessment to determine whether it is more likely than not (i.e., more than a 50 percent probability) that the fair value of a reporting unit is greater than its carrying amount. If our assessment indicates less than a 50 percent probability that fair value exceeds carrying value, we quantitatively estimate a reporting unit's fair value. Goodwill recorded in connection with investments in partially-owned insurance companies is recorded in Investments in partially-owned insurance companies and is also measured for impairment annually. Indefinite lived intangible assets are not subject to amortization. Finite lived intangible assets are amortized over their useful lives, generally ranging from 1 to 25 years. Intangible assets are regularly reviewed for indicators of impairment. Impairment is recognized if the carrying amount is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and fair value.
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| Unpaid losses and loss expenses | Unpaid losses and loss expenses A liability is established for the estimated unpaid losses and loss expenses under the terms of, and with respect to, Chubb's policies and agreements. Similar to premiums that are recognized as revenues over the coverage period of the policy, a liability for unpaid losses and loss expenses is recognized as expense when insured events occur over the coverage period of the policy. This liability includes a provision for both reported claims (case reserves) and incurred but not reported claims (IBNR reserves). IBNR reserve estimates are generally calculated by first projecting the ultimate cost of all losses that have occurred (expected losses), and then subtracting paid losses, case reserves, and loss expenses. The methods of determining such estimates and establishing the resulting liability are reviewed regularly and any adjustments are reflected in operations in the period in which they become known. Future developments may result in losses and loss expenses materially greater or less than recorded amounts. Except for net loss and loss expense reserves of $31 million, net of discount, held at December 31, 2019, representing certain structured settlements for which the timing and amount of future claim payments are reliably determinable and $43 million, net of discount, of certain reserves for unsettled claims, Chubb does not discount its P&C loss reserves. This compares with reserves of $33 million for certain structured settlements and $40 million of certain reserves for unsettled claims at December 31, 2018. Structured settlements represent contracts purchased from life insurance companies primarily to settle workers' compensation claims, where payments to the claimant by the life insurance company are expected to be made in the form of an annuity. Chubb retains the liability to the claimant in the event that the life insurance company fails to pay. At December 31, 2019, the liability due to claimants was $567 million, net of discount, and reinsurance recoverables due from the life insurance companies was $536 million, net of discount. For structured settlement contracts where payments are guaranteed regardless of claimant life expectancy, the amounts recoverable from the life insurance companies at December 31, 2019 are included in Other assets in the Consolidated balance sheets, as they do not meet the requirements for reinsurance accounting. Included in Unpaid losses and loss expenses are liabilities for asbestos and environmental (A&E) claims and expenses. These unpaid losses and loss expenses are principally related to claims arising from remediation costs associated with hazardous waste sites and bodily-injury claims related to asbestos products and environmental hazards. The estimation of these liabilities is particularly sensitive to changes in the legal environment including specific settlements that may be used as precedents to settle future claims. However, Chubb does not anticipate future changes in laws and regulations in setting its A&E reserve levels. Also included in Unpaid losses and loss expenses is the fair value adjustment of $145 million and $207 million at December 31, 2019 and December 31, 2018, respectively, related to Chubb Corp’s historical unpaid losses and loss expenses. The estimated fair value consists of the present value of the expected net unpaid loss and loss adjustment expense payments adjusted for an estimated risk margin. The estimated cash flows are discounted at a risk free rate. The estimated risk margin varies based on the inherent risks associated with each type of reserve. The fair value is amortized through Amortization of purchased intangibles on the consolidated statements of operations through the year 2032, based on the estimated payout patterns of unpaid loss and loss expenses at the acquisition date. Our loss reserves are presented net of contractual deductible recoverable amounts due from policyholders. Under the terms of certain high deductible policies which we offer, such as workers’ compensation and general liability, our customers are responsible to reimburse us for an agreed-upon dollar amount per claim. In nearly all cases we are required under such policies to pay covered claims first, and then seek reimbursement for amounts within the applicable deductible from our customers. We generally seek to mitigate this risk through collateral agreements. Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premiums from previous accident years. For purposes of analysis and disclosure, management views prior period development to be changes in the nominal value of loss estimates from period to period, net of premium and profit commission adjustments on loss sensitive contracts. Prior period development generally excludes changes in loss estimates that do not arise from the emergence of claims, such as those related to uncollectible reinsurance, interest, unallocated loss adjustment expenses, or foreign currency. Accordingly, specific items excluded from prior period development include the following: gains/losses related to foreign currency remeasurement; losses recognized from the early termination or commutation of reinsurance agreements that principally relate to the time value of money; changes in the value of reinsurance business assumed reflected in losses incurred but principally related to the time value of money; and losses that arise from changes in estimates of earned premiums from prior accident years. Except for foreign currency remeasurement, which is included in Net realized gains (losses), these items are included in current year losses. |
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| Future policy benefits | Future policy benefits The valuation of long-duration contract reserves requires management to make estimates and assumptions regarding expenses, mortality, persistency, and investment yields. Estimates are primarily based on historical experience and information provided by ceding companies and include a margin for adverse deviation. Interest rates used in calculating reserves range from less than 1.0 percent to 11.0 percent at both December 31, 2019 and 2018. Actual results could differ materially from these estimates. Management monitors actual experience and where circumstances warrant, will revise assumptions and the related reserve estimates. Revisions are recorded in the period they are determined. Certain of our long-duration contracts are supported by assets that do not qualify for separate account reporting under GAAP. These assets are classified as non-qualified separate account assets and reported in Other investments and the offsetting liabilities are reported in Future policy benefits in the Consolidated balance sheets. Changes in the fair value of separate account assets that do not qualify for separate account reporting under GAAP are reported in Other income (expense) and the offsetting movements in the liabilities are included in Policy benefits in the Consolidated statements of operations. |
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| Assumed reinsurance programs involving minimum benefit guarantees under annuity contracts | Assumed reinsurance programs involving minimum benefit guarantees under variable annuity contracts Chubb reinsures various death and living benefit guarantees associated with variable annuities issued primarily in the United States. We generally receive a monthly premium during the accumulation phase of the covered annuities (in-force) based on a percentage of either the underlying accumulated account values or the underlying accumulated guaranteed values. Depending on an annuitant's age, the accumulation phase can last many years. To limit our exposure under these programs, all reinsurance treaties include annual or aggregate claim limits and many include an aggregate deductible. The guarantees which are payable on death, referred to as guaranteed minimum death benefits (GMDB), principally cover shortfalls between accumulated account value at the time of an annuitant's death and either i) an annuitant's total deposits; ii) an annuitant's total deposits plus a minimum annual return; or iii) the highest accumulated account value attained at any policy anniversary date. In addition, a death benefit may be based on a formula specified in the variable annuity contract that uses a percentage of the growth of the underlying contract value. Liabilities for GMDBs are based on cumulative assessments or premiums to date multiplied by a benefit ratio that is determined by estimating the present value of benefit payments and related adjustment expenses divided by the present value of cumulative assessment or expected premiums during the contract period. Under reinsurance programs covering GLBs, we assume the risk of guaranteed minimum income benefits (GMIB) associated with variable annuity contracts. The GMIB risk is triggered if, at the time the contract holder elects to convert the accumulated account value to a periodic payment stream (annuitize), the accumulated account value is not sufficient to provide a guaranteed minimum level of monthly income. We also assume the risk of guaranteed minimum accumulation benefits (GMAB). However, at December 31, 2019, the risks related to our GMAB programs are minimal given that the majority of these policies are no longer in force. Our GLB reinsurance products meet the definition of a derivative for accounting purposes and are carried at fair value with changes in fair value recognized in Realized gains (losses) in the Consolidated statement of operations. Refer to Notes 5 c) and 10 a) for additional information. |
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| Deposit assets and liabilities | Deposit assets and liabilities Deposit assets arise from ceded reinsurance contracts purchased that do not transfer significant underwriting or timing risk. Deposit liabilities include reinsurance deposit liabilities and contract holder deposit funds. The reinsurance deposit liabilities arise from contracts sold for which there is not a significant transfer of risk. Contract holder deposit funds represent a liability for investment contracts sold that do not meet the definition of an insurance contract, and certain of these contracts are sold with a guaranteed rate of return. Under deposit accounting, consideration received or paid is recorded as a deposit asset or liability in the balance sheet as opposed to recording premiums and losses in the statement of operations. Interest income on deposit assets, representing the consideration received or to be received in excess of cash payments related to the deposit contract, is earned based on an effective yield calculation. The calculation of the effective yield is based on the amount and timing of actual cash flows at the balance sheet date and the estimated amount and timing of future cash flows. The effective yield is recalculated periodically to reflect revised estimates of cash flows. When a change in the actual or estimated cash flows occurs, the resulting change to the carrying amount of the deposit asset is reported as income or expense. Deposit assets of $93 million and $97 million at December 31, 2019 and 2018, respectively, are reflected in Other assets in the Consolidated balance sheets and the accretion of deposit assets related to interest pursuant to the effective yield calculation is reflected in Net investment income in the Consolidated statements of operations. Deposit liabilities include reinsurance deposit liabilities of $88 million and $97 million and contract holder deposit funds of $2.0 billion and $1.8 billion at December 31, 2019 and 2018, respectively. Deposit liabilities are reflected in Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. At contract inception, the deposit liability equals net cash received. An accretion rate is established based on actuarial estimates whereby the deposit liability is increased to the estimated amount payable over the contract term. The deposit accretion rate is the rate of return required to fund expected future payment obligations. We periodically reassess the estimated ultimate liability and related expected rate of return. Changes to the deposit liability are generally reflected through Interest expense to reflect the cumulative effect of the period the contract has been in force, and by an adjustment to the future accretion rate of the liability over the remaining estimated contract term. The liability for contract holder deposit funds equals accumulated policy account values, which consist of the deposit payments plus credited interest less withdrawals and amounts assessed through the end of the period. |
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| Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment used in operations are capitalized and carried at cost less accumulated depreciation and are reported within Other assets in the Consolidated balance sheets. At December 31, 2019, property and equipment totaled $1.9 billion, consisting principally of capitalized software costs of $1.1 billion incurred to develop or obtain computer software for internal use and company-owned facilities of $270 million. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. For capitalized software, the estimated useful life is generally three to five years, but can be as long as 15 years and for company-owned facilities the estimated useful life is 40 years. At December 31, 2018, property and equipment totaled $1.7 billion. |
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| Foreign currency remeasurement and translation | Foreign currency remeasurement and translation The functional currency for each of our foreign operations is generally the currency of the local operating environment. Transactions in currencies other than a foreign operation's functional currency are remeasured into the functional currency, and the resulting foreign exchange gains and losses are reflected in Net realized gains (losses) in the Consolidated statements of operations. Functional currency assets and liabilities are translated into the reporting currency, U.S. dollars, using period end exchange rates and the related translation adjustments are recorded as a separate component of AOCI in Shareholders' equity. Functional statement of operations amounts expressed in functional currencies are translated using average exchange rates. |
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| Administrative expenses | Administrative expenses Administrative expenses generally include all operating costs other than policy acquisition costs. The North America Commercial P&C Insurance segment manages and uses an in-house third-party claims administrator, ESIS Inc. (ESIS). ESIS performs claims management and risk control services for domestic and international organizations that self-insure P&C exposures as well as internal P&C exposures. The net operating income of ESIS is included within Administrative expenses in the Consolidated statements of operations and were $47 million, $49 million, and $38 million for the years ended December 31, 2019, 2018, and 2017, respectively. |
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| Income taxes | Income taxes Income taxes have been recorded related to those operations subject to income tax. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the consolidated financial statements and the tax basis of our assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax law or rates is recognized in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to these deferred tax assets will not be realized. The valuation allowance assessment considers tax planning strategies, where appropriate. |
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| Earnings per share | Earnings per share Basic earnings per share is calculated using the weighted-average shares outstanding, including participating securities with non-forfeitable rights to dividends such as unvested restricted stock. All potentially dilutive securities, including stock options are excluded from the basic earnings per share calculation. In calculating diluted earnings per share, the weighted-average shares outstanding is increased to include all potentially dilutive securities. Basic and diluted earnings per share are calculated by dividing net income by the applicable weighted-average number of shares outstanding during the year. |
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| Cash flow information | Cash flow information Premiums received and losses paid associated with the GLB reinsurance products, which as discussed previously, meet the definition of a derivative instrument for accounting purposes, are included within Cash flows from operating activities. Cash flows, such as settlements and collateral requirements, associated with GLB and all other derivative instruments, are included on a net basis within Cash flows from investing activities. Purchases, sales, and maturities of short-term investments are recorded on a net basis within Cash flows from investing activities. |
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| Share-based compensation | Share-based compensation Chubb measures and records compensation cost for all share-based payment awards at grant-date fair value. Compensation costs are recognized for vesting of share-based payment awards with only service conditions on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award were, in substance, multiple awards. For retirement-eligible participants, compensation costs for certain share-based payment awards are recognized immediately at the date of grant. Refer to Note 12 for additional information.
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| Chubb integration expenses | Chubb integration expenses Direct costs related to the Chubb Corp acquisition were expensed as incurred. Chubb integration expenses were $23 million, $59 million, and $310 million for the years ended December 31, 2019, 2018 and 2017, respectively, and include all internal and external costs directly related to the integration activities of the Chubb Corp acquisition. These expenses principally consisted of personnel-related expenses, consulting fees, and rebranding. |
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| New accounting pronouncements | Adopted in 2019 Premium Amortization on Purchased Callable Debt Securities Effective January 1, 2019, we adopted new guidance on accounting for premium amortization on purchased callable debt securities for bonds held at a premium on a modified retrospective basis. The guidance requires the premium to be amortized to the earliest call date. As a result, we recorded a cumulative effect adjustment to decrease beginning retained earnings by $12 million after-tax ($15 million pre-tax). Securities held at a discount did not require an accounting change. Lease Accounting Effective January 1, 2019, we adopted new lease accounting guidance and elected to utilize a modified retrospective approach which allowed us to initially apply the new lease standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings for 2019, with no adjustment to prior periods presented. The cumulative effect adjustment to the opening balance of retained earnings was zero. Our leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease. The adoption of the updated guidance resulted in recognizing a right-of-use asset, which was recorded within Other assets, and a lease liability, which was recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheet as well as de-recognizing the liability for deferred rent that was required under the previous guidance. The adoption of the new guidance did not have a material effect on our results of operations, financial condition or liquidity. Refer to Note 10 i) for additional information on leases. Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued amendments to modify the disclosure requirements on fair value measurements. The amendments allow for the removal of: (i) the amount and reasons for transfer between Level 1 and Level 2 of the fair value hierarchy; (ii) the policy for timing of transfers between levels; and (iii) the valuation processes for Level 3 fair value measurements. This update also requires additional disclosure including an expanded discussion on unobservable inputs that are significant to the fair value measurement. We early adopted the amendments that allow the removal of certain disclosures in 2018 and added the expanded discussion on unobservable inputs in the fourth quarter of 2019, as permitted. The guidance changes disclosure only and did not have an impact on our financial condition or results of operations. |
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| Accounting guidance not yet adopted | Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments Effective January 1, 2020, we adopted, on a modified retrospective basis, new guidance on the accounting for credit losses of financial instruments that are measured at amortized cost, including held to maturity securities, reinsurance recoverables, and high deductible receivables, by applying an approach based on the current expected credit losses (CECL). The estimate of expected credit losses considers historical information, current information, as well as reasonable and supportable forecasts, including estimates of prepayments. In addition, the guidance also amended the current available for sale (AFS) debt security other-than-temporary impairment model by requiring an estimate of the expected credit loss (ECL) only when the fair value is below the amortized cost of the asset. The length of time the fair value of an AFS security has been below the amortized cost no longer impacts the determination of whether a potential credit loss exists. The AFS security model also requires the use of a valuation allowance as compared to the current practice of writing down the asset. During the first quarter of 2020, we established a valuation allowance for credit losses and recognized a cumulative effect adjustment and decreased beginning retained earnings by approximately $70 million pre-tax, or $64 million after-tax. Accounting guidance not yet adopted Targeted Improvements to the Accounting for Long-Duration Contracts In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The amendments in this update require more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures. This standard will be effective for us in the first quarter of 2022 with early adoption permitted. We are currently assessing the effect of adopting this guidance on our financial condition and results of operations. We will be better able to quantify the effect of adopting this standard as we progress in our implementation process and draw nearer to the date of adoption. Income Taxes - Simplifying the Accounting for Income Taxes In December 2019, the FASB issued updated guidance for the accounting for income taxes. The updated guidance is intended to simplify the accounting for income taxes by removing several exceptions contained in existing guidance and amending other existing guidance to simplify several other income tax accounting matters. The updated guidance is effective for us in the first quarter of 2021 with early adoption permitted. We are currently evaluating the impact of this guidance on our financial condition and results of operations; however, it is not expected to have a material impact at the date of adoption.
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Summary of significant accounting policies Summary of Significant Accounting Policies (Tables) (Tables) |
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| Cash and Cash Equivalents [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Cash and Cash Equivalents [Table Text Block] | The following table provides a reconciliation of cash and restricted cash reported within the Consolidated balance sheets that total to the amounts shown in the Consolidated statements of cash flows:
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Investments (Tables) |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt securities Available for sale |
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| Debt Securities Held to Maturity |
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| Schedule Of Fixed Maturities By Contractual Maturity | The following table presents fixed maturities by contractual maturity:
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| Schedule Of Default Assumptions By Moody's Rating Category | The following table presents default assumptions by Moody's rating category (historical mean default rate provided for comparison):
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| Schedule Of Net Realized Gains (Losses) And The Losses Included In Net Realized Gains (Losses) And OCI | The following table presents the components of Net realized gains (losses) and the change in net unrealized appreciation (depreciation) of investments:
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| Schedule Of Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which A Portion Of OTTI Was Recognized In OCI | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Other Investments |
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| Schedule Of Partially Owned Insurance Companies |
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| Schedule Of Aggregate Fair Value And Gross Unrealized Loss By Length Of Time The Security Has Continuously Been In An Unrealized Loss Position | The following tables present, for all securities in an unrealized loss position (including securities on loan), the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:
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| Schedule Of Sources Of Net Investment Income |
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| Schedule Of Components Of Restricted Assets | The following table presents the components of restricted assets:
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| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block] | The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments of alternative investments:
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Fair value measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GMIB Annuitization Experience [Table Text Block] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Instruments Measured At Fair Value On A Recurring Basis | Financial instruments measured at fair value on a recurring basis, by valuation hierarchy
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| Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations | The following table presents the significant unobservable inputs used in the Level 3 liability valuations. Excluded from the table below are inputs used to determine the fair value of Level 3 assets which are based on single broker quotes and contain no quantitative unobservable inputs developed by management. The majority of our fixed maturities classified as Level 3 used external pricing when markets are less liquid due to the lack of market inputs (i.e., stale pricing, broker quotes).
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| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):
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| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
(2) Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $550 million at December 31, 2017 and $853 million at December 31, 2016, which includes a fair value derivative adjustment of $204 million and $559 million, respectively.
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| Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value |
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Reinsurance (Tables) |
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| Reinsurance Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of direct, assumed and ceded premiums | The following table presents direct, assumed, and ceded premiums:
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| Schedule of Reinsurance Recoverable on Ceded Insurance [Table Text Block] | b) Reinsurance recoverable on ceded reinsurance
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| Schedule of reinsurance recoverable and provision by category of reinsurer |
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| Schedule of income and expenses relating to GMDB and GLB reinsurance | The following table presents income and expenses relating to GMDB and GLB reinsurance. GLBs include GMIBs.
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| Schedule of Net Amount of Risk and 100 Percent Mortality [Table Text Block] |
(3) Covering both the GMDB and GLB risks on the same underlying policyholders.
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Intangible Assets (Tables) |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill roll-forward by business segment | The following table presents a roll-forward of Goodwill by segment:
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] |
(1) In connection with the Chubb Corp acquisition, we recorded an increase to Unpaid losses and loss expenses acquired to adjust the carrying value of Chubb Corp's historical Unpaid losses and loss expenses to fair value as of the acquisition date. This fair value adjustment amortizes through Amortization of purchased intangibles on the Consolidated statements of operations through the year 2032. The balance of the fair value adjustment on Unpaid losses and loss expense was $145 million and $207 million at December 31, 2019 and 2018, respectively. Refer to Note 1(h) for additional information.
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| VOBA | The following table presents a roll-forward of VOBA:
The following table presents, as of December 31, 2019, the expected estimated pre-tax amortization expense related to VOBA for the next five years:
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Unpaid losses and loss expenses (Tables) |
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| Liability for Claims and Claims Adjustment Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Unpaid Losses And Loss Expenses Roll Forward | Chubb establishes reserves for the estimated unpaid ultimate liability for losses and loss expenses under the terms of its policies and agreements. Reserves include estimates for both claims that have been reported and for IBNR claims, and include estimates of expenses associated with processing and settling these claims. Reserves are recorded in Unpaid losses and loss expenses in the consolidated balance sheets. While we believe that our reserves for unpaid losses and loss expenses at December 31, 2019 are adequate, new information or trends may lead to future developments in incurred loss and loss expenses significantly greater or less than the reserves provided. Any such revisions could result in future changes in estimates of losses or reinsurance recoverable and would be reflected in our results of operations in the period in which the estimates are changed. The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:
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| Reconciliation of Claims Development to Liability [Table Text Block] | The following table presents a reconciliation of the loss development tables to the liability for unpaid losses and loss expenses in the consolidated balance sheet:
(1) Primarily includes the claims reserve of our International A&H business and Life Insurance segment reserves.
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| Claims Development tables [Table Text Block] | This product line includes proportional and excess coverages in general, automobile liability, professional liability, medical malpractice, workers' compensation and aviation, with exposures located around the world. In general, reinsurance exhibits less stable development patterns than primary business. In particular, general casualty reinsurance and excess coverages are long-tailed and can be very volatile.
This product line includes property, property catastrophe, marine, credit/surety, A&H and energy. This product line is impacted by natural catastrophes, particularly in the 2011, 2017 and 2018 accident years. Of the non-catastrophe book, the mixture of business varies by year with approximately 73 percent of loss on proportional treaties in treaty year 2010 and after. This percentage has increased over time with the proportion being approximately 58 percent for treaty years 2010 to 2012 growing to an average of 80 percent for treaty years 2013 to 2019, with the remainder being written on an excess of loss basis.
This line consists of primary and excess liability exposures, including medical liability and professional lines, including directors and officers (D&O) liability, errors and omissions (E&O) liability, employment practices liability (EPL), fidelity bonds, and fiduciary liability. The primary and excess liability business represents the largest part of these exposures. The former includes both monoline and commercial package liability. The latter includes a substantial proportion of commercial umbrella, excess and high excess business, where loss activity can produce significant volatility in the loss triangles at later ages within an accident year (and sometimes across years) due to the size of the limits afforded and the complex nature of the underlying losses. This line includes management and professional liability products provided to a wide variety of clients, from national accounts to small firms along with private and not-for-profit organizations, distributed through brokers, agents, wholesalers and MGAs. Many of these coverages, particularly D&O and E&O, are typically written on a claims-made form. While most of the coverages are underwritten on a primary basis, there are significant amounts of excess exposure with large policy limits.
This product line represents first party commercial product lines that are short-tailed in nature, such as property, inland marine, ocean marine, surety and A&H. There is a wide diversity of products, primary and excess coverages, and policy sizes. During this ten-year period, this product line was also impacted by natural catastrophes mainly in the 2012, 2017, and 2018 accident years.
This product line is comprised of commercial fire, marine (predominantly cargo), surety, personal automobile (in Latin America, Asia Pacific and Japan), personal cell phones, personal residential (including high net worth), energy and construction. In general, these lines have relatively stable payment and reporting patterns although they are impacted by natural catastrophes mainly in the 2010, 2011, 2017, and 2018 accident years. Latin America and Europe each make up about 30 percent of the Chubb Overseas General non-casualty book.
This product line consists of the remaining commercial casualty coverages such as automobile liability and aviation. There is also a small portion of commercial multi-peril (CMP) business in accident years 2014 and prior. The paid and reported data are impacted by some catastrophe loss activity primarily on the CMP exposures just noted.
North America Personal P&C Insurance — Short-tail Chubb provides personal lines coverages for high-net-worth individuals and families in North America including homeowners, automobile, valuable articles (including fine art), umbrella liability, and recreational marine insurance offered through independent regional agents and brokers. A portfolio acquired from Fireman’s Fund is presented on a prospective basis beginning in May of accident year 2015. Reserves associated with prior accident periods were acquired through a loss portfolio transfer, which does not allow for a retrospective presentation. During this ten-year period, this segment was also impacted by natural catastrophes, mainly in 2012, 2017 and 2018 accident years.
This product line is comprised of D&O liability, E&O liability, financial institutions (including crime/fidelity coverages), and non-U.S. general liability as well as aviation and political risk. Exposures are located around the world, including Europe, Latin America, and Asia. Approximately 45 percent of Chubb Overseas General business is generated by European accounts, exclusive of Lloyd's market. There is some U.S. exposure in Casualty from multinational accounts and in financial lines for Lloyd's market. The financial lines coverages are typically written on a claims-made form, while general liability coverages are typically on an occurrence basis and comprised of a mix of primary and excess businesses.
This product line has a substantial geographic spread and a broad mix across industries. Types of coverage include risk management business predominantly with high deductible policies, loss sensitive business (i.e., retrospectively-rated policies), business fronted for captives, as well as excess and primary guaranteed cost coverages. The triangle below shows all loss and allocated expense development for the workers' compensation product line. In our prior period development disclosure, we exclude any loss development where there is a directly related premium adjustment. For workers' compensation, changes in the exposure base due to payroll audits will drive changes in ultimate losses. In addition, we record involuntary pool assumptions (premiums and losses) on a lagged basis. Both of these items will influence the development in the triangle, particularly the first prior accident year, and are included in the reconciliation table presented on page F-60.
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| Supplementary PPD [Table Text Block] |
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| Schedule of Historical Claims [Table Text Block] |
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| Supplementary PPD Reconciliation [Table Text Block] | The following table presents a reconciliation of the loss development triangles above to prior period development:
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| Prior Period Development, by Segment [Table Text Block] |
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| Schedule Of Asbestos Environmental Loss Roll Forward and by segment | The following table presents a roll-forward of consolidated A&E loss reserves including allocated loss expense reserves for A&E exposures, and the provision for uncollectible paid and unpaid reinsurance recoverables:
The A&E net loss reserves including allocated loss expense reserves and provision for uncollectible reinsurance at December 31, 2019 and 2018 shown in the table above is comprised of:
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Taxation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of income tax provision | The following table presents pre-tax income and the related provision for income taxes:
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| Reconciliation schedule of the difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate | The following table presents a reconciliation of the difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate:
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| Schedule of the components of net deferred tax assets | The following table presents the components of net deferred tax assets and liabilities:
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| Reconciliation schedule of unrecognized tax benefits | The following table presents a reconciliation of the beginning and ending amount of gross unrecognized tax benefits:
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| Summary of Income Tax Examinations [Table Text Block] | The following table summarizes tax years open for examination by major income tax jurisdiction:
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Debt (Tables) |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of debt outstanding |
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Commitments, contingencies, and guarantees (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments | The following table presents the balance sheet locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments:
(3) Includes both future policy benefits reserves of $441 million and $409 million and fair value derivative adjustment of $456 million and $452 million at December 31, 2019 and 2018, respectively. Refer to Note 5 c) for additional information. Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.
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| Secured Borrowings Securities Lending Table | The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
At December 31, 2019 and 2018, our repurchase agreement obligations of $1,416 million and $1,418 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase obligations. The fair value of the underlying securities sold remains in Fixed maturities available for sale, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets. The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
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| Derivative Instruments, Gain (Loss) [Table Text Block] | The following table presents net realized gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
(3) Related to GMDB and GLB book of business.
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| Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum lease payments under the operating leases are expected to be as follows:
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Shareholders' equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dividends Declared [Table Text Block] | The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):
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| Schedule of changes in Common Shares issued and outstanding |
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| 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:
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Share-based compensation (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Share-based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of pre-tax and after-tax share-based compensation expense | The following table presents pre-tax and after-tax share-based compensation expense:
(1) The windfall tax benefit recorded to Income tax expense in the Consolidated statement of operations was $12 million, $19 million, and $48 million for the years ended December 31, 2019, 2018, and 2017, respectively.
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| Schedule of the weighted-average model valuation assumptions |
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| Rollforward of the company's stock options | The following table presents a roll-forward of Chubb's stock options:
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| Rollforward of the company's restricted stock | The following table presents a roll-forward of our restricted stock awards. Included in the roll-forward below are 19,019 restricted stock awards, 20,784 restricted stock awards, and 22,013 restricted stock awards that were granted to non-management directors during the years ended December 31, 2019, 2018, and 2017, respectively:
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Postretirement benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Net Funded Status [Table Text Block] | Obligations and funded status The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in Accumulated other comprehensive income at December 31, 2019 and 2018 was as follows:
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| Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in Accumulated other comprehensive income at December 31, 2019 and 2018 was as follows:
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| Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] | The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2019 and 2018:
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| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block] | The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2019 and 2018:
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| Defined Benefit Plan, Assumptions [Table Text Block] | The weighted-average assumptions used to determine the projected benefit obligation were as follows:
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| Schedule of Net Benefit Costs [Table Text Block] | The components of net pension and other postretirement benefit costs reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:
The service and non-service cost components of net periodic (benefit) cost reflected in the Consolidated statements of operations were as follows:
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| Schedule of assumptions used, net periodic benefit costs [Table Text Block] | he weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:
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| Schedule of Health Care Cost Trend Rates [Table Text Block] | The weighted-average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:
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| Schedule of Allocation of Plan Assets [Table Text Block] | The following tables present the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 4 to the Consolidated financial statements.
(1) Excluded from the table above are $494 million and $109 million of other investments measured using NAV as a practical expedient related to the U.S. Plans and Non-U.S. Plans, re
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| Schedule of expected future benefit payments | Expected future benefit payments are as follows:
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Other (income) expense (Tables) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of the components of Other (income) expense |
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Segment information (Tables) |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operations By Segment |
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| Net Premiums Earned For Segment By Product | The following table presents net premiums earned for each segment by line of business:
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| Net Premiums Earned by Geographic Region |
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Earnings per share (Tables) |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Earnings Per Share, Basic And Diluted |
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Related party transaction Related Party Transactions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Related Party Transactions [Table Text Block] | Transactions generated under Starr agreements were as follows:
ABR Re We own 12.2 percent of the common equity of ABR Reinsurance Capital Holdings Ltd. and warrants to acquire 0.5 percent of additional equity. ABR Reinsurance Capital Holdings Ltd., is the parent company of ABR Reinsurance Ltd. (ABR Re), an independent reinsurance company. Through long-term arrangements, Chubb will be the sole source of reinsurance risks ceded to ABR Re, and BlackRock, Inc. will be ABR Re’s exclusive investment management service provider. As an investor, Chubb is expected to benefit from underwriting profit generated by ABR Re’s reinsuring a wide range of Chubb’s primary insurance business and the income and capital appreciation BlackRock, Inc. seeks to deliver through its investment management services. In addition, Chubb has entered into an arrangement with BlackRock, Inc. under which both Chubb and BlackRock, Inc. will be entitled to an equal share of the aggregate amount of certain fees, including underwriting and investment management performance related fees, in connection with their respective reinsurance and investment management arrangements with ABR Re. ABR Re is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate ABR Re because Chubb does not have the power to control and direct ABR Re’s most significant activities, including investing and underwriting. Our minority ownership interest is accounted for under the equity method of accounting. Chubb cedes premiums to ABR Re and recognizes the associated commissions. Transactions generated under ABR Re agreements were as follows:
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Statutory Financial Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Statutory Financial Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of combined statutory capital and surplus and statutory net income (loss) |
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Information provided in connection with outstanding debt of subsidiaries (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet at December 31, 2019
Subsequent Events In January 2020, Chubb INA Holdings Inc. paid $1.5 billion towards the series of intercompany loans involving its parents, Chubb Group Holdings Inc. and Chubb Limited. Additionally, Chubb Limited contributed $1.2 billion to a subsidiary included in Other Chubb Limited Subsidiaries. Condensed Consolidating Balance Sheet at December 31, 2018
(1) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
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| Condensed Consolidating Statement Of Operations and Comprehensive Income | Condensed Consolidating Statements of Operations and Comprehensive Income
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Condensed Consolidating Statements of Operations and Comprehensive Income
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| Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
(1) Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2017 and 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
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Condensed Unaudited Quarterly Financial Data (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of quarterly financial information |
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Summary of significant accounting policies (Narrative) (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jan. 14, 2016 |
Dec. 31, 2017 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
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| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Deposit Assets | $ 93 | $ 97 | ||||||
| Unpaid losses and loss expenses | $ 63,179 | 62,690 | 62,960 | $ 63,179 | $ 60,540 | |||
| Deposit liabilities included in Deposit liabilities | 88 | 97 | ||||||
| Borrowings under Guaranteed Investment Agreements | 2,000 | 1,800 | ||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Deferred Policy Acquisition Costs, Amortization Expense | 6,153 | 5,912 | 5,781 | |||||
| Deferred Advertising Costs | $ 246 | 255 | ||||||
| Deferred Marketing Costs, Amortization Period | 10 years | |||||||
| Recoverable from unrated reinsurers, ceded reserve, default factor (percent) | 34.00% | |||||||
| Reinsurance business assumed | $ 6 | 14 | ||||||
| Percentage of fair value of loaned securities | 102.00% | |||||||
| Quality assessment threshold used in goodwill impairment testing | 50.00% | |||||||
| Affiliated notional cash pooling program | [1] | 0 | ||||||
| Net operating results of ESIS included within Administrative expenses | $ 47 | 49 | 38 | |||||
| Property, Plant and Equipment, Net | 1,900 | 1,700 | ||||||
| Chubb integration expenses | 23 | 59 | $ 310 | |||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 475 | |||||||
| Operating Lease, Right-of-Use Asset | 551 | |||||||
| Tax Year 2018 [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||||||
| Tax Year 2017 [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||||||
| The Chubb Corporation [Member] | Debt Securities [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Assets, Fair Value Adjustment | $ 1,652 | 332 | ||||||
| Accounting Standards Update 2016-13 [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Cumulative Effect on Retained Earnings, before Tax | 70 | |||||||
| Cumulative Effect on Retained Earnings, Net of Tax | 64 | |||||||
| Accounting Standards Update 2017-08 [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Cumulative Effect on Retained Earnings, before Tax | 15 | |||||||
| Cumulative Effect on Retained Earnings, Net of Tax | 12 | |||||||
| Selling and Marketing Expense [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Deferred Policy Acquisition Costs, Amortization Expense | 109 | $ 114 | $ 116 | |||||
| Fair Value Adjustment to Acquired Loss Reserves [Member] | The Chubb Corporation [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Balance of FV adjustment on Unpaid Losses and Loss Expenses | 145 | 207 | ||||||
| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | 296 | 0 | 296 | 0 | ||||
| Retained Earnings | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | (264) | 12 | (264) | $ 0 | ||||
| Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Accounting Standards Update 2018-02 [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | 0 | (47) | 0 | ||||
| Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Accounting Standards Update 2018-02 [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | $ 0 | $ 22 | $ 0 | ||||
| Minimum | ||||||||
| Liability for Future Policy Benefit, by Product Segment [Line Items] | ||||||||
| Liability for Future Policy Benefits, Interest Rate | 1.00% | 1.00% | ||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Reinsurance Premiums, Amortization Period | 1 year | |||||||
| Amortization period for value of reinsurance business assumed | 9 years | |||||||
| Finite-Lived Intangible Asset, Useful Life | 1 year | |||||||
| Maximum | ||||||||
| Liability for Future Policy Benefit, by Product Segment [Line Items] | ||||||||
| Liability for Future Policy Benefits, Interest Rate | 11.00% | 11.00% | ||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Reinsurance Premiums, Amortization Period | 3 years | |||||||
| Amortization period for value of reinsurance business assumed | 40 years | |||||||
| Finite-Lived Intangible Asset, Useful Life | 25 years | |||||||
| Affiliated notional cash pooling program | $ 300 | |||||||
| Scenario, Plan [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 450 | |||||||
| Scenario, Adjustment [Member] | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 25 | |||||||
| Software Development [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Property, Plant and Equipment, Net | $ 1,100 | |||||||
| Property, Plant and Equipment, Useful Life | 15 years | |||||||
| Software Development [Member] | Minimum | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Property, Plant and Equipment, Useful Life | 3 years | |||||||
| Software Development [Member] | Maximum | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Property, Plant and Equipment, Useful Life | 5 years | |||||||
| Building [Member] | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Property, Plant and Equipment, Net | $ 270 | |||||||
| Building [Member] | Maximum | ||||||||
| Summary of significant accounting policies [Line Items] | ||||||||
| Property, Plant and Equipment, Useful Life | 40 years | |||||||
| Structured settlements | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Deposit Assets | $ 31 | 33 | ||||||
| Unpaid losses and loss expenses | 567 | |||||||
| Reinsurance recoverables for amounts due from life insurance companies | 536 | |||||||
| Short-Duration Insurance, Other [Member] | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Unpaid losses and loss expenses | $ 43 | $ 40 | ||||||
| ||||||||
Summary of significant accounting policies Summary of Significant Accounting Policies - Cash (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
[5] | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents [Line Items] | ||||||||||||||||||
| Cash | $ 1,537 | [1] | $ 1,247 | [2] | $ 728 | |||||||||||||
| Restricted Cash | 109 | 93 | 123 | |||||||||||||||
| Cash and restricted cash | $ 1,646 | [3] | $ 1,340 | [3],[4] | $ 851 | [3],[5] | $ 1,088 | |||||||||||
| ||||||||||||||||||
Acquisitions (Details) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|---|
Dec. 31, 2019 |
May 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2021 |
Dec. 31, 2018 |
|
| Huatai Group [Member] | |||||
| Investment [Line Items] | |||||
| Equity method investment, additional ownership percentage obtained | 4.70% | ||||
| Ownership Percentage | 30.90% | 30.90% | 20.00% | ||
| Huatai Group [Member] | CHINA | |||||
| Investment [Line Items] | |||||
| Payments to Acquire Equity Method Investments | $ 251 | $ 329 | |||
| Equity method investment, additional ownership percentage obtained | 6.20% | ||||
| Ownership Percentage | 31.00% | 31.00% | 20.00% | ||
| Huatai Group [Member] | Subsequent Event [Member] | CHINA | |||||
| Investment [Line Items] | |||||
| Equity method investment, additional 7.1 percentage obtained | 7.10% | ||||
| Portion two of payments to acquire equity method investments | $ 493 | ||||
| Portion one of payments to acquire equity method investments | $ 1,100 | ||||
| Equity method investment, additional 15.3 ownership percentage obtained | 15.30% | ||||
| Equity method investment, additional 22.4 ownership percentage obtained | 22.40% | ||||
| Amount agreed to acquire 22.4 percent of Huatai Group | $ 1,600 | ||||
| Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 53.30% | ||||
| Banchile Seguros de Vida [Member] | |||||
| Investment [Line Items] | |||||
| Payments to Acquire Businesses, Gross | $ 80 | ||||
Investments (Narrative) (Detail) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2019
USD ($)
Security
partnerships
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
|
| Investment [Line Items] | ||||
| Document Period End Date | Dec. 31, 2019 | |||
| Net unrealized appreciation (depreciation) included in OCI | $ 3 | $ (4) | ||
| AOCI Portion Attributable to change of FV of investments with OTTI | (18) | $ 1 | ||
| Portion of gross unrealized loss represented by the United States Treasury and Agency obligations | $ 61 | |||
| Moodys historical mean recovery rate | 42.00% | |||
| Limited partnerships number | partnerships | 131 | |||
| Number of fixed maturities in an unrealized loss position | Security | 4,091 | |||
| Total number of fixed maturities | Security | 31,203 | |||
| Largest single unrealized loss in the fixed maturities | $ 6 | |||
| Restricted assets in fixed maturities and short-term investments | $ 21,000 | |||
| Percentage of mortgage-backed securities represented by investments in US government agency bonds | 83.00% | 81.00% | ||
| Restricted assets in cash | $ 109 | $ 93 | ||
| Huatai Group [Member] | ||||
| Investment [Line Items] | ||||
| Ownership Percentage | 30.90% | 20.00% | ||
| Corporate securities | ||||
| Investment [Line Items] | ||||
| Credit losses recognized in net income | $ 37 | $ 25 | $ 5 | |
| Company assumed recovery rate | 32.00% | |||
| Collateralized Mortgage Backed Securities [Member] | ||||
| Investment [Line Items] | ||||
| Credit losses recognized in net income | $ 0 | $ 0 | ||
| CHINA | Huatai Group [Member] | ||||
| Investment [Line Items] | ||||
| Ownership Percentage | 31.00% | 20.00% | ||
| CHINA | Huatai Life Insurance Co. [Member] | ||||
| Investment [Line Items] | ||||
| Ownership Percentage | 20.00% | 20.00% | ||
| Subsequent Event [Member] | CHINA | Huatai Group [Member] | ||||
| Investment [Line Items] | ||||
| Equity method investment, additional 15.3 ownership percentage obtained | 15.30% | |||
| Equity method investment, additional 7.1 percentage obtained | 7.10% | |||
| Indirect Ownership [Member] | CHINA | Huatai Group [Member] | ||||
| Investment [Line Items] | ||||
| Ownership Percentage | 30.90% | |||
| Indirect Ownership [Member] | CHINA | Huatai Life Insurance Co. [Member] | ||||
| Investment [Line Items] | ||||
| Ownership Percentage | 25.00% | |||
| Direct Ownership [Member] | CHINA | Huatai Life Insurance Co. [Member] | ||||
| Investment [Line Items] | ||||
| Ownership Percentage | 20.00% | |||
Investments Investments (Schedule Of Amortized Cost and Fair Value of Available-for-sale Securities and Related OTTI Recognized in AOCI) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-sale, Amortized Cost | $ 82,580 | $ 79,323 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,074 | 690 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (166) | (1,543) |
| Available for sale, Fair Value | 85,488 | 78,470 |
| Available for sale, OTTI recognized in AOCI | (30) | (7) |
| US Treasury and Government [Member] | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-sale, Amortized Cost | 3,188 | 4,158 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 96 | 30 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1) | (43) |
| Available for sale, Fair Value | 3,283 | 4,145 |
| Available for sale, OTTI recognized in AOCI | 0 | 0 |
| Foreign | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-sale, Amortized Cost | 22,670 | 21,370 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,099 | 395 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (62) | (349) |
| Available for sale, Fair Value | 23,707 | 21,416 |
| Available for sale, OTTI recognized in AOCI | (25) | 0 |
| Corporate securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-sale, Amortized Cost | 30,689 | 27,183 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,180 | 150 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (78) | (750) |
| Available for sale, Fair Value | 31,791 | 26,583 |
| Available for sale, OTTI recognized in AOCI | (5) | (6) |
| Collateralized Mortgage Backed Securities [Member] | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-sale, Amortized Cost | 18,712 | 15,758 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 494 | 66 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (14) | (284) |
| Available for sale, Fair Value | 19,192 | 15,540 |
| Available for sale, OTTI recognized in AOCI | 0 | (1) |
| States, municipalities, and political subdivisions | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-sale, Amortized Cost | 7,321 | 10,854 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 205 | 49 |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (11) | (117) |
| Available for sale, Fair Value | 7,515 | 10,786 |
| Available for sale, OTTI recognized in AOCI | $ 0 | $ 0 |
Investments (Schedule Of Amortized Cost And Fair Value Of Held-to-Maturity And Related Other-Than-Temporary Impairment Recognized In Accumulated Other Comprehensive Income) (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Document Period End Date | Dec. 31, 2019 | |
| Debt Securities, Held-to-maturity | $ 12,581 | $ 13,435 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 427 | 51 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (3) | (227) |
| Held to maturity, Fair Value | 13,005 | 13,259 |
| Held to maturity, OTTI recognized in AOCI | 0 | 0 |
| U.S. Treasury and agency | ||
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Debt Securities, Held-to-maturity | 1,318 | 1,185 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 29 | 8 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (11) |
| Held to maturity, Fair Value | 1,347 | 1,182 |
| Held to maturity, OTTI recognized in AOCI | 0 | 0 |
| Foreign | ||
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Debt Securities, Held-to-maturity | 1,423 | 1,549 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 62 | 11 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (18) |
| Held to maturity, Fair Value | 1,485 | 1,542 |
| Held to maturity, OTTI recognized in AOCI | 0 | 0 |
| Corporate securities | ||
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Debt Securities, Held-to-maturity | 2,349 | 2,601 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 121 | 11 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (2) | (104) |
| Held to maturity, Fair Value | 2,468 | 2,508 |
| Held to maturity, OTTI recognized in AOCI | 0 | 0 |
| Mortgage-backed securities | ||
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Debt Securities, Held-to-maturity | 2,331 | 2,524 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 65 | 5 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (43) |
| Held to maturity, Fair Value | 2,396 | 2,486 |
| Held to maturity, OTTI recognized in AOCI | 0 | 0 |
| States, municipalities, and political subdivisions | ||
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Debt Securities, Held-to-maturity | 5,160 | 5,576 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 150 | 16 |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (1) | (51) |
| Held to maturity, Fair Value | 5,309 | 5,541 |
| Held to maturity, OTTI recognized in AOCI | $ 0 | $ 0 |
Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Detail) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Investments, Debt and Equity Securities [Abstract] | ||
| Available for sale, Due in 1 year or less, Amortized Cost | $ 3,951 | $ 3,569 |
| Available for sale, Due after 1 year through 5 years, Amortized Cost | 27,142 | 27,134 |
| Available for sale, Due after 5 years though 10 years, Amortized Cost | 23,901 | 24,095 |
| Available for sale, Due after 10 years, Amortized Cost | 8,874 | 8,767 |
| Available for sale, Mortgage-backed securities, Amortized Cost | 18,712 | 15,758 |
| Debt Securities, Available-for-sale, Amortized Cost | 82,580 | 79,323 |
| Available for sale, Due in 1 year or less, Fair Value | 3,973 | 3,568 |
| Available for sale, Due after 1 year through 5 years, Fair Value | 27,720 | 27,005 |
| Available for sale, Due after 5 years through 10 years, Fair Value | 24,874 | 23,543 |
| Available for sale, Due after 10 years, Fair Value | 9,729 | 8,814 |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 63,868 | 63,565 |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 66,296 | 62,930 |
| Available for sale, Mortgage backed securities, Fair Value | 19,192 | 15,540 |
| Available for sale, Fair Value | 85,488 | 78,470 |
| Held to maturity, Due in 1 year or less, Amortized Cost | 478 | 536 |
| Held to maturity, Due after 1 year through 5 years, Amortized Cost | 3,869 | 3,122 |
| Held to maturity, Due after 5 years through 10 years, Amortized Cost | 3,756 | 4,468 |
| Held to maturity, Due after 10 years, Amortized Cost | 2,147 | 2,785 |
| Held to maturity, Mortgage backed securities, Amortized Cost | 2,331 | 2,524 |
| Debt Securities, Held-to-maturity | 12,581 | 13,435 |
| Held to maturity, Due in 1 year or less, Fair Value | 479 | 537 |
| Held to maturity, Due after 1 year through 5, Fair Value | 3,940 | 3,106 |
| Held to maturity, Due after 5 years through 10 years, Fair Value | 3,883 | 4,407 |
| Held to maturity, Due after 10 years, Fair Value | 2,307 | 2,723 |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost | 10,250 | 10,911 |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value | 10,609 | 10,773 |
| Held to maturity, Mortgage backed securities, Fair Value | 2,396 | 2,486 |
| Held to maturity, Fair Value | $ 13,005 | $ 13,259 |
Investments Investments (Schedule of Gains and Losses on Equity and Other Investments) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Gain (Loss) on Securities [Line Items] | |||
| Unrealized Gain (Loss) on Investments | $ 3,088 | $ (1,699) | $ 392 |
| Equity Securities [Member] | |||
| Gain (Loss) on Securities [Line Items] | |||
| Equity Securities, FV-NI, Realized Gain (Loss) | 104 | (59) | |
| Unrealized Gain (Loss) on Investments | 0 | 0 | 88 |
| Other Investments [Member] | |||
| Gain (Loss) on Securities [Line Items] | |||
| Realized Investment Gains (Losses) | (20) | (5) | $ 0 |
| Accounting Standards Update 2016-01 [Member] | Equity Securities [Member] | |||
| Gain (Loss) on Securities [Line Items] | |||
| Equity Securities, FV-NI, Realized Gain (Loss) | 104 | (59) | |
| Unrealized Gain (Loss) on Investments | 46 | (129) | |
| Gain (Loss) on Sale of Investments | 58 | 70 | |
| Accounting Standards Update 2016-01 [Member] | Other Investments [Member] | |||
| Gain (Loss) on Securities [Line Items] | |||
| Unrealized Gain (Loss) on Investments | (15) | (126) | |
| Gain (Loss) on Sale of Investments | (5) | 121 | |
| Realized Investment Gains (Losses) | (20) | (5) | |
| Accounting Standards Update 2016-01 [Member] | Equity securities and other investments [Member] | |||
| Gain (Loss) on Securities [Line Items] | |||
| Unrealized Gain (Loss) on Investments | 31 | (255) | |
| Gain (Loss) on Sale of Investments | 53 | 191 | |
| Realized Investment Gains (Losses) | $ 84 | $ (64) | |
Investments (Schedule Of Default Assumptions By Moody's Rating Categories) (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2019 | |
| Below Investment_Grade [Member] | Ba | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| 1-in-100 Year Default Rate | 4.80% |
| Historical Mean Default Rate | 1.00% |
| Below Investment_Grade [Member] | B | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| 1-in-100 Year Default Rate | 12.00% |
| Historical Mean Default Rate | 3.10% |
| Below Investment_Grade [Member] | Moody's Caa-C Rating [Member] | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| 1-in-100 Year Default Rate | 36.30% |
| Historical Mean Default Rate | 10.40% |
| External Credit Rating, Investment Grade [Member] | Aaa - Baa | Minimum | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| 1-in-100 Year Default Rate | 0.00% |
| Historical Mean Default Rate | 0.00% |
| External Credit Rating, Investment Grade [Member] | Aaa - Baa | Maximum | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| 1-in-100 Year Default Rate | 1.30% |
| Historical Mean Default Rate | 0.30% |
Investments (Net Realized Gains (Losses) And Losses Included In Net Realized Gains (Losses) And Other Comprehensive Income) (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Other-than-temporary impairment (OTTI) losses gross | $ (90) | $ (52) | $ (46) | ||||||||||
| OTTI on Fixed Maturities | (58) | (49) | (45) | ||||||||||
| Foreign exchange gains( losses) | 7 | 131 | 36 | ||||||||||
| Fair Value adjustment on insurance derivative | (4) | (248) | 364 | ||||||||||
| Derivative, Gain (Loss) on Derivative, Net | (585) | (330) | 87 | ||||||||||
| Net Realized Gains Losses | $ (55) | $ (155) | $ (223) | $ (97) | $ (687) | $ 19 | $ 18 | $ (2) | (530) | (652) | 84 | ||
| Unrealized Gain (Loss) on Investments | 3,088 | (1,699) | 392 | ||||||||||
| Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax | (647) | 297 | (241) | ||||||||||
| Other derivative instruments | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | (8) | (3) | (5) | ||||||||||
| Investment and embedded derivative instruments | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | (435) | (75) | (11) | ||||||||||
| S&P Options and Futures | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | (138) | (4) | (261) | ||||||||||
| Equity Securities [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Other-than-temporary impairment (OTTI) losses gross | (10) | ||||||||||||
| Equity Securities - Gross Realized Gains Excluding OTTI | 28 | ||||||||||||
| Equity Securities - Gross realized losses excluding OTTI | (2) | ||||||||||||
| Equity Securities, FV-NI, Realized Gain (Loss) | 104 | (59) | |||||||||||
| Total net realized gains (losses) (includes $(302), $(15), and $(119) reclassified from AOCI) | [1] | 16 | |||||||||||
| Unrealized Gain (Loss) on Investments | 0 | 0 | 88 | ||||||||||
| Fixed maturities held to maturity | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Unrealized Gain (Loss) on Investments | (31) | (38) | 18 | ||||||||||
| Other Investments [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Other-than-temporary impairment (OTTI) losses gross | 0 | 0 | (12) | ||||||||||
| Realized Investment Gains (Losses) | (20) | (5) | 0 | ||||||||||
| Available-for-sale Securities [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Unrealized Gain (Loss) on Investments | 3,769 | (1,958) | 519 | ||||||||||
| Debt Securities [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Other-than-temporary impairment (OTTI) losses gross | (90) | (52) | (24) | ||||||||||
| OTTI on fixed maturities recognized in OCI (pre-tax) | 32 | 3 | 1 | ||||||||||
| OTTI on Fixed Maturities | (58) | (49) | (23) | ||||||||||
| Fixed Maturities [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Debt Securities, Available-for-sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment | 203 | 334 | 149 | ||||||||||
| Debt Securities, Available-for-sale, Realized Loss, Excluding Other-than-temporary Impairment | (176) | (587) | (157) | ||||||||||
| Debt Securities, Available-for-sale, Realized Gain (Loss) | (31) | (302) | (31) | ||||||||||
| Other [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Gain (Loss) on Sale of Other Investments | (5) | (87) | (12) | ||||||||||
| Unrealized Gain (Loss) on Investments | (3) | 0 | $ 8 | ||||||||||
| Accounting Standards Update 2016-01 [Member] | Equity Securities [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Equity Securities, FV-NI, Realized Gain (Loss) | 104 | (59) | |||||||||||
| Unrealized Gain (Loss) on Investments | 46 | (129) | |||||||||||
| Gain (Loss) on Sale of Investments | 58 | 70 | |||||||||||
| Accounting Standards Update 2016-01 [Member] | Other Investments [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Realized Investment Gains (Losses) | (20) | (5) | |||||||||||
| Unrealized Gain (Loss) on Investments | (15) | (126) | |||||||||||
| Gain (Loss) on Sale of Investments | (5) | 121 | |||||||||||
| Accounting Standards Update 2016-01 [Member] | Equity securities and other investments [Member] | |||||||||||||
| Gain (Loss) on Securities [Line Items] | |||||||||||||
| Realized Investment Gains (Losses) | 84 | (64) | |||||||||||
| Unrealized Gain (Loss) on Investments | 31 | (255) | |||||||||||
| Gain (Loss) on Sale of Investments | $ 53 | $ 191 | |||||||||||
| |||||||||||||
Investments (Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which Portion Of Other-Than-Temporary Impairment Was Recognized In Other Comprehensive Income) (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which Portion Of OTTI Was Recognized In OCI | |||
| Balance of credit losses related to securities still held-beginning of period | $ 34 | $ 22 | $ 35 |
| Additions where no OTTI was previously recorded | 33 | 20 | 4 |
| Additions where an OTTI was previously recorded | 4 | 5 | 2 |
| Reductions for securities sold during the period | (41) | (13) | (19) |
| Balance of credit losses related to securities still held-end of period | $ 30 | $ 34 | $ 22 |
Investments (Schedule Of Other Investments) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | $ 6,062 | $ 5,277 |
| Alternative Investment | 4,921 | 4,244 |
| Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 6,062 | 5,277 |
| Alternative Investment | 4,921 | 4,244 |
| Other [Member] | Other Accounting Method [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 234 | 234 |
| Partially-owned Investment Companies [Member] | Equity Method Investments [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 4,142 | 3,623 |
| Limited Partner [Member] | Cost-method Investments [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 508 | 538 |
| Investment Funds [Member] | Cost-method Investments [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 271 | 83 |
| Life Insurance Product Line [Member] | Other Accounting Method [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 377 | 304 |
| Policy Loans [Member] | Other Accounting Method [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | 247 | 243 |
| Non-qualified separate account assets [Member] | Other Accounting Method [Member] | Fair Value | ||
| Other Investment Not Readily Marketable [Line Items] | ||
| Other Investments | $ 283 | $ 252 |
Investments (Schedule Of Investments In Partially-Owned Insurance Companies) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Investment [Line Items] | ||
| Document Period End Date | Dec. 31, 2019 | |
| Carrying Value | $ 1,332 | $ 678 |
| Huatai Group [Member] | ||
| Investment [Line Items] | ||
| Ownership Percentage | 30.90% | 20.00% |
| Huatai Group [Member] | CHINA | ||
| Investment [Line Items] | ||
| Carrying Value | $ 1,053 | $ 452 |
| Ownership Percentage | 31.00% | 20.00% |
| Huatai Life Insurance Co. [Member] | CHINA | ||
| Investment [Line Items] | ||
| Carrying Value | $ 147 | $ 106 |
| Ownership Percentage | 20.00% | 20.00% |
| Freisenbruch-Meyer | Bermuda | ||
| Investment [Line Items] | ||
| Carrying Value | $ 10 | $ 9 |
| Ownership Percentage | 40.00% | 40.00% |
| Chubb Arabia Cooperative Insurance Company [Member] | Saudi Arabia | ||
| Investment [Line Items] | ||
| Carrying Value | $ 20 | $ 18 |
| Ownership Percentage | 30.00% | 30.00% |
| Russian Reinsurance Company | Russia | ||
| Investment [Line Items] | ||
| Carrying Value | $ 2 | $ 2 |
| Ownership Percentage | 23.00% | 23.00% |
| ABR Reinsurance Capital Holdings Ltd. [Member] | Bermuda | ||
| Investment [Line Items] | ||
| Carrying Value | $ 100 | $ 91 |
| Ownership Percentage | 12.00% | 12.00% |
| Direct Ownership [Member] | Huatai Life Insurance Co. [Member] | CHINA | ||
| Investment [Line Items] | ||
| Ownership Percentage | 20.00% | |
| Indirect Ownership [Member] | Huatai Group [Member] | CHINA | ||
| Investment [Line Items] | ||
| Ownership Percentage | 30.90% | |
| Indirect Ownership [Member] | Huatai Life Insurance Co. [Member] | CHINA | ||
| Investment [Line Items] | ||
| Ownership Percentage | 25.00% | |
| Total Direct and Indirect [Member] | Huatai Life Insurance Co. [Member] | CHINA | ||
| Investment [Line Items] | ||
| Ownership Percentage | 45.00% |
Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Investment [Line Items] | ||
| Document Period End Date | Dec. 31, 2019 | |
| Fixed Maturities [Member] | ||
| Investment [Line Items] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 5,563 | $ 34,952 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (81) | (953) |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 3,337 | 27,762 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (88) | (817) |
| Debt Securities, Available-for-sale, Unrealized Loss Position | 8,900 | 62,714 |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (169) | (1,770) |
| U.S. Treasury and agency | Fixed Maturities [Member] | ||
| Investment [Line Items] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 234 | 523 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | (4) |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 339 | 2,859 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (50) |
| Debt Securities, Available-for-sale, Unrealized Loss Position | 573 | 3,382 |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1) | (54) |
| Foreign | Fixed Maturities [Member] | ||
| Investment [Line Items] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,846 | 6,764 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (34) | (208) |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 802 | 5,349 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (28) | (159) |
| Debt Securities, Available-for-sale, Unrealized Loss Position | 2,648 | 12,113 |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (62) | (367) |
| Corporate securities | Fixed Maturities [Member] | ||
| Investment [Line Items] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,121 | 16,538 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (40) | (599) |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 988 | 4,873 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (40) | (255) |
| Debt Securities, Available-for-sale, Unrealized Loss Position | 3,109 | 21,411 |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (80) | (854) |
| Mortgage-backed securities | Fixed Maturities [Member] | ||
| Investment [Line Items] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,174 | 6,103 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6) | (98) |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 932 | 6,913 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8) | (229) |
| Debt Securities, Available-for-sale, Unrealized Loss Position | 2,106 | 13,016 |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (14) | (327) |
| States, municipalities, and political subdivisions | Fixed Maturities [Member] | ||
| Investment [Line Items] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 188 | 5,024 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (44) |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 276 | 7,768 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (12) | (124) |
| Debt Securities, Available-for-sale, Unrealized Loss Position | 464 | 12,792 |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (12) | $ (168) |
Investments (Schedule Of Sources Of Net Investment Income) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Net Investment Income [Line Items] | |||||||||||
| Gross investment income | $ 3,598 | $ 3,473 | $ 3,289 | ||||||||
| Investment expenses | (172) | (168) | (164) | ||||||||
| Net investment income | $ 858 | $ 873 | $ 859 | $ 836 | $ 848 | $ 823 | $ 828 | $ 806 | 3,426 | 3,305 | 3,125 |
| Amortization of Debt Issuance Costs and Discounts | (395) | (592) | (694) | ||||||||
| The Chubb Corporation [Member] | |||||||||||
| Net Investment Income [Line Items] | |||||||||||
| Amortization of Debt Issuance Costs and Discounts | (161) | (248) | (332) | ||||||||
| Fixed Maturities [Member] | |||||||||||
| Net Investment Income [Line Items] | |||||||||||
| Gross investment income | 3,385 | 3,128 | 2,987 | ||||||||
| Short-term investments | |||||||||||
| Net Investment Income [Line Items] | |||||||||||
| Gross investment income | 84 | 90 | 56 | ||||||||
| Other interest income [Member] | |||||||||||
| Net Investment Income [Line Items] | |||||||||||
| Gross investment income | 25 | 118 | 75 | ||||||||
| Equity securities | |||||||||||
| Net Investment Income [Line Items] | |||||||||||
| Gross investment income | 26 | 33 | 38 | ||||||||
| Other Investments [Member] | |||||||||||
| Net Investment Income [Line Items] | |||||||||||
| Gross investment income | $ 78 | $ 104 | $ 133 | ||||||||
Investments (Schedule Of Components Of Restricted Assets) (Detail) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Investments, Debt and Equity Securities [Abstract] | ||
| Funds Held under Reinsurance Agreements, Asset | $ 14,004 | $ 13,988 |
| Deposits with non-U.S. regulatory authorities | 2,709 | 2,531 |
| Collateral pledged under repurchase agreements | 1,464 | 1,468 |
| Deposits with U.S. regulatory authorities | 2,466 | 2,405 |
| Other pledged assets | 490 | 692 |
| Total restricted assets | $ 21,133 | $ 21,084 |
Investments Investments (Entities That Calculate Net Asset Value Per Share) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 4,921 | $ 4,244 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | 3,263 | 3,705 |
| Financial [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | 611 | 596 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 329 | $ 193 |
| Financial [Member] | Minimum [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 2 years | 2 years |
| Financial [Member] | Maximum | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 10 years | 10 years |
| Real Estate Funds [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 712 | $ 704 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 422 | $ 362 |
| Real Estate Funds [Member] | Minimum [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 2 years | 2 years |
| Real Estate Funds [Member] | Maximum | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 11 years | 11 years |
| Distressed Alternative Investments [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 263 | $ 296 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 80 | $ 105 |
| Distressed Alternative Investments [Member] | Minimum [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 2 years | 2 years |
| Distressed Alternative Investments [Member] | Maximum | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 7 years | 7 years |
| Private Credit Alternative Investments [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 104 | $ 147 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 272 | $ 310 |
| Private Credit Alternative Investments [Member] | Minimum [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 3 years | 3 years |
| Private Credit Alternative Investments [Member] | Maximum | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 8 years | 8 years |
| Private Equity Funds [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 2,844 | $ 2,362 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 2,160 | $ 2,735 |
| Private Equity Funds [Member] | Minimum [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 2 years | 2 years |
| Private Equity Funds [Member] | Maximum | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 14 years | 14 years |
| Vintage Alternative Investments [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 116 | $ 56 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 0 | $ 0 |
| Vintage Alternative Investments [Member] | Minimum [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 1 year | 1 year |
| Vintage Alternative Investments [Member] | Maximum | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period | 2 years | 2 years |
| Investment Funds Alternative Investments [Member] | ||
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ||
| Alternative Investment | $ 271 | $ 83 |
| Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments | $ 0 | $ 0 |
Fair Value Measurements (Narrative) (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative, Gain (Loss) on Derivative, Net | $ (585) | $ (330) | $ 87 | ||
| Guaranteed Minimum Income Benefit | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative, Gain (Loss) on Derivative, Net | [1] | (4) | $ (248) | $ 364 | |
| Guaranteed Minimum Income Benefit | Variable Annuity [Member] | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative, Gain (Loss) on Derivative, Net | 25 | ||||
| Guaranteed Minimum Income Benefit | Variable Annuity [Member] | Measurement Input, Withdrawal Rate [Member] | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative, Gain (Loss) on Derivative, Net | 91 | ||||
| Guaranteed Minimum Income Benefit | Variable Annuity [Member] | Measurement Input, Mortality Rate [Member] | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative, Gain (Loss) on Derivative, Net | $ 11 | ||||
| |||||
Fair Value Measurements (Financial Instruments Measured At Fair Value On Recurring Basis) (Detail) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | $ 85,488 | $ 78,470 | ||||||||
| Equity Securities, FV-NI | 812 | 770 | ||||||||
| Short-term investments | 4,291 | 3,016 | ||||||||
| Other Investments | 6,062 | 5,277 | ||||||||
| Securities lending collateral | 994 | 1,926 | ||||||||
| US Treasury and Government [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 3,283 | 4,145 | ||||||||
| Foreign | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 23,707 | 21,416 | ||||||||
| Corporate securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 31,791 | 26,583 | ||||||||
| Mortgage-backed securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 19,192 | 15,540 | ||||||||
| States, municipalities, and political subdivisions | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 7,515 | 10,786 | ||||||||
| Estimate of Fair Value Measurement [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Other Investments | 6,062 | 5,277 | ||||||||
| Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Other Investments | 4,921 | 4,244 | ||||||||
| Other Investments | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Other Investments | 95 | 95 | ||||||||
| Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 85,488 | 78,470 | ||||||||
| Equity Securities | 770 | |||||||||
| Equity Securities, FV-NI | 812 | |||||||||
| Short-term investments | 4,291 | 3,016 | ||||||||
| Other Investments | 799 | 695 | ||||||||
| Securities lending collateral | 994 | 1,926 | ||||||||
| Investment derivative instruments, assets | 24 | 28 | ||||||||
| Other derivative instruments, assets | 2 | 25 | ||||||||
| Separate Account Asset | 3,573 | 2,823 | ||||||||
| Total assets measured at fair value | 95,983 | [1] | 87,753 | [2] | ||||||
| Investment derivative instruments, liability | 93 | 153 | ||||||||
| Liabilities Related to Investment Contracts, Fair Value Disclosure | 562 | 605 | ||||||||
| Other derivative instruments, liability | 13 | |||||||||
| Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | US Treasury and Government [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 3,283 | 4,145 | ||||||||
| Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Foreign | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 23,707 | 21,416 | ||||||||
| Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Corporate securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 31,791 | 26,583 | ||||||||
| Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 19,192 | 15,540 | ||||||||
| Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | States, municipalities, and political subdivisions | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 7,515 | 10,786 | ||||||||
| Fair Value, Recurring [Member] | Level 1 | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 2,664 | 3,400 | ||||||||
| Equity Securities | 713 | |||||||||
| Equity Securities, FV-NI | 728 | |||||||||
| Short-term investments | 2,803 | 1,575 | ||||||||
| Other Investments | 412 | 381 | ||||||||
| Securities lending collateral | 0 | 0 | ||||||||
| Investment derivative instruments, assets | 24 | 28 | ||||||||
| Other derivative instruments, assets | 2 | 25 | ||||||||
| Separate Account Asset | 3,437 | 2,686 | ||||||||
| Total assets measured at fair value | 10,070 | [1] | 8,808 | [2] | ||||||
| Investment derivative instruments, liability | 93 | 38 | ||||||||
| Liabilities Related to Investment Contracts, Fair Value Disclosure | 106 | 38 | ||||||||
| Other derivative instruments, liability | 13 | |||||||||
| Fair Value, Recurring [Member] | Level 1 | US Treasury and Government [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 2,664 | 3,400 | ||||||||
| Fair Value, Recurring [Member] | Level 1 | Foreign | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 0 | 0 | ||||||||
| Fair Value, Recurring [Member] | Level 1 | Corporate securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 0 | 0 | ||||||||
| Fair Value, Recurring [Member] | Level 1 | Mortgage-backed securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 0 | 0 | ||||||||
| Fair Value, Recurring [Member] | Level 1 | States, municipalities, and political subdivisions | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 0 | 0 | ||||||||
| Fair Value, Recurring [Member] | Level 2 | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 80,864 | 73,365 | ||||||||
| Equity Securities | 0 | |||||||||
| Equity Securities, FV-NI | 15 | |||||||||
| Short-term investments | 1,482 | 1,440 | ||||||||
| Other Investments | 377 | 303 | ||||||||
| Securities lending collateral | 994 | 1,926 | ||||||||
| Investment derivative instruments, assets | 0 | 0 | ||||||||
| Other derivative instruments, assets | 0 | 0 | ||||||||
| Separate Account Asset | 136 | 137 | ||||||||
| Total assets measured at fair value | 83,868 | [1] | 77,171 | [2] | ||||||
| Investment derivative instruments, liability | 0 | 115 | ||||||||
| Liabilities Related to Investment Contracts, Fair Value Disclosure | 0 | 115 | ||||||||
| Other derivative instruments, liability | 0 | |||||||||
| Fair Value, Recurring [Member] | Level 2 | US Treasury and Government [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 619 | 745 | ||||||||
| Fair Value, Recurring [Member] | Level 2 | Foreign | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 23,258 | 21,071 | ||||||||
| Fair Value, Recurring [Member] | Level 2 | Corporate securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 30,340 | 25,284 | ||||||||
| Fair Value, Recurring [Member] | Level 2 | Mortgage-backed securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 19,132 | 15,479 | ||||||||
| Fair Value, Recurring [Member] | Level 2 | States, municipalities, and political subdivisions | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 7,515 | 10,786 | ||||||||
| Fair Value, Recurring [Member] | Level 3 | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 1,960 | 1,705 | ||||||||
| Equity Securities | 57 | |||||||||
| Equity Securities, FV-NI | 69 | |||||||||
| Short-term investments | 6 | 1 | ||||||||
| Other Investments | 10 | 11 | ||||||||
| Securities lending collateral | 0 | 0 | ||||||||
| Investment derivative instruments, assets | 0 | 0 | ||||||||
| Other derivative instruments, assets | 0 | 0 | ||||||||
| Separate Account Asset | 0 | 0 | ||||||||
| Total assets measured at fair value | 2,045 | [1] | 1,774 | [2] | ||||||
| Investment derivative instruments, liability | 0 | 0 | ||||||||
| Liabilities Related to Investment Contracts, Fair Value Disclosure | 456 | 452 | ||||||||
| Other derivative instruments, liability | 0 | |||||||||
| Fair Value, Recurring [Member] | Level 3 | US Treasury and Government [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 0 | 0 | ||||||||
| Fair Value, Recurring [Member] | Level 3 | Foreign | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 449 | 345 | ||||||||
| Fair Value, Recurring [Member] | Level 3 | Corporate securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 1,451 | 1,299 | ||||||||
| Fair Value, Recurring [Member] | Level 3 | Mortgage-backed securities | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 60 | 61 | ||||||||
| Fair Value, Recurring [Member] | Level 3 | States, municipalities, and political subdivisions | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Available for sale, Fair Value | 0 | 0 | ||||||||
| Guaranteed Minimum Income Benefit | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross | [3] | 456 | 452 | |||||||
| Guaranteed Minimum Income Benefit | Fair Value, Recurring [Member] | Level 1 | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross | [3] | 0 | 0 | |||||||
| Guaranteed Minimum Income Benefit | Fair Value, Recurring [Member] | Level 2 | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross | [3] | 0 | 0 | |||||||
| Guaranteed Minimum Income Benefit | Fair Value, Recurring [Member] | Level 3 | ||||||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||||||
| Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross | [3] | $ 456 | $ 452 | |||||||
| ||||||||||
Fair Value Measurements (Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations) (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
||||||||||||
| Minimum | |||||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate | 3.00% | ||||||||||||||
| Annuitization rate | 0.00% | ||||||||||||||
| Maximum | |||||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate | 34.00% | ||||||||||||||
| Annuitization rate | 52.00% | ||||||||||||||
| Weighted Average | |||||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate | [1] | 4.30% | |||||||||||||
| Annuitization rate | [1] | 3.20% | |||||||||||||
| Guaranteed Minimum Income Benefit | |||||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 452 | $ 204 | $ 559 | ||||||||||||
| Guaranteed Minimum Income Benefit | Level 3 | |||||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 456 | [2] | $ 452 | [3] | $ 204 | [4] | $ 559 | ||||||||
| Guaranteed Minimum Income Benefit | Level 3 | Fair Value, Recurring [Member] | |||||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 456 | ||||||||||||||
| |||||||||||||||
Fair value measurements Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - Level 3 - USD ($) $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
| Equity securities | ||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
| Balance- Beginning of year, assets | $ 57 | $ 44 | $ 41 | |||
| Transfers into Level 3, assets | 0 | 0 | 0 | |||
| Transfers out of Level 3, assets | 0 | 0 | 0 | |||
| Change in Net Unrealized Gains (Losses) included in OCI, Assets | 1 | (2) | (1) | |||
| Net Realized Gains/Losses, Assets | (2) | 6 | 2 | |||
| Purchased, assets | 34 | 37 | 24 | |||
| Sales, assets | (21) | (28) | (22) | |||
| Settlements, assets | 0 | 0 | 0 | |||
| Balance- End of year, assets | 69 | 57 | 44 | |||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets | (3) | (1) | (1) | |||
| Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets | 0 | |||||
| Short-term investments | ||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
| Balance- Beginning of year, assets | 1 | 0 | 25 | |||
| Transfers into Level 3, assets | 0 | 5 | 0 | |||
| Transfers out of Level 3, assets | 0 | 0 | 0 | |||
| Change in Net Unrealized Gains (Losses) included in OCI, Assets | 0 | 0 | 0 | |||
| Net Realized Gains/Losses, Assets | 0 | 0 | 0 | |||
| Purchased, assets | 6 | 9 | 16 | |||
| Sales, assets | 0 | 0 | 0 | |||
| Settlements, assets | (1) | (13) | (41) | |||
| Balance- End of year, assets | 6 | 1 | 0 | |||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets | 0 | 0 | 0 | |||
| Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets | 0 | |||||
| Other investments | ||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
| Balance- Beginning of year, assets | 11 | 263 | 225 | |||
| Transfers into Level 3, assets | 0 | 0 | 0 | |||
| Transfers out of Level 3, assets | 0 | (252) | 0 | |||
| Change in Net Unrealized Gains (Losses) included in OCI, Assets | 0 | (2) | 6 | |||
| Net Realized Gains/Losses, Assets | 0 | 1 | 0 | |||
| Purchased, assets | 0 | 50 | 56 | |||
| Sales, assets | 0 | 0 | 0 | |||
| Settlements, assets | (1) | (49) | (24) | |||
| Balance- End of year, assets | 10 | 11 | 263 | |||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets | 0 | 1 | 0 | |||
| Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets | 0 | |||||
| Available-for-sale Securities [Member] | Foreign | ||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
| Balance- Beginning of year, assets | 345 | 93 | 74 | |||
| Transfers into Level 3, assets | 11 | 13 | 0 | |||
| Transfers out of Level 3, assets | (24) | (2) | (3) | |||
| Change in Net Unrealized Gains (Losses) included in OCI, Assets | 13 | (12) | 3 | |||
| Net Realized Gains/Losses, Assets | (1) | (3) | 0 | |||
| Purchased, assets | 228 | 334 | 84 | |||
| Sales, assets | (70) | (69) | (59) | |||
| Settlements, assets | (53) | (9) | (6) | |||
| Balance- End of year, assets | 449 | 345 | 93 | |||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets | 0 | (1) | (1) | |||
| Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets | 7 | |||||
| Available-for-sale Securities [Member] | Corporate securities | ||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
| Balance- Beginning of year, assets | 1,299 | 1,037 | 681 | |||
| Transfers into Level 3, assets | 23 | 24 | 231 | [1] | ||
| Transfers out of Level 3, assets | (38) | (31) | (93) | |||
| Change in Net Unrealized Gains (Losses) included in OCI, Assets | (2) | (4) | (12) | |||
| Net Realized Gains/Losses, Assets | (4) | (5) | 0 | |||
| Purchased, assets | 577 | 672 | 521 | [1] | ||
| Sales, assets | (125) | (164) | (111) | |||
| Settlements, assets | (279) | (230) | (180) | |||
| Balance- End of year, assets | 1,451 | 1,299 | 1,037 | |||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets | (2) | (7) | (2) | |||
| Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets | (8) | |||||
| Available-for-sale Securities [Member] | Mortgage-backed securities | ||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
| Balance- Beginning of year, assets | 61 | 78 | 45 | |||
| Transfers into Level 3, assets | 0 | 1 | 50 | |||
| Transfers out of Level 3, assets | (16) | (3) | 0 | |||
| Change in Net Unrealized Gains (Losses) included in OCI, Assets | 0 | 0 | 0 | |||
| Net Realized Gains/Losses, Assets | 0 | 0 | 0 | |||
| Purchased, assets | 19 | 5 | 8 | |||
| Sales, assets | (1) | 0 | (1) | |||
| Settlements, assets | (3) | (20) | (24) | |||
| Balance- End of year, assets | 60 | 61 | 78 | |||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets | 0 | $ 0 | $ 0 | |||
| Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets | $ 0 | |||||
| ||||||
Fair value measurements Fair Value Measurements (Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
||||||||||
| Guaranteed Minimum Income Benefit | |||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||
| Balance - Beginning of year, liabilities | $ 452 | $ 204 | $ 559 | ||||||||||
| Balance - End of year, liabilities | 452 | 204 | |||||||||||
| Guaranteed Benefit Liability, Net | 897 | 861 | 550 | $ 853 | |||||||||
| Level 3 | Guaranteed Minimum Income Benefit | |||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||
| Balance - Beginning of year, liabilities | 452 | [1] | 204 | [2] | 559 | ||||||||
| Transfers Into Level 3, liabilities | 0 | 0 | 9 | ||||||||||
| Transfers out of Level 3, liabilities | 0 | 0 | 0 | ||||||||||
| Change in Net Unrealized Gains (Losses) included in OCI, Liabilities | 0 | 0 | 0 | ||||||||||
| Net Realized Gains/Losses, Liabilities | 4 | 248 | (364) | ||||||||||
| Purchased, liabilities | 0 | 0 | 0 | ||||||||||
| Sales, liabilities | 0 | 0 | 0 | ||||||||||
| Settlements, liabilities | 0 | 0 | 0 | ||||||||||
| Balance - End of year, liabilities | 456 | [3] | 452 | [1] | 204 | [2] | |||||||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Liabilities | 4 | 248 | (364) | ||||||||||
| Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI | 0 | ||||||||||||
| Level 3 | Other derivative instruments | |||||||||||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||
| Balance - Beginning of year, liabilities | $ 0 | 2 | 13 | ||||||||||
| Transfers Into Level 3, liabilities | 0 | 0 | |||||||||||
| Transfers out of Level 3, liabilities | 0 | (9) | |||||||||||
| Change in Net Unrealized Gains (Losses) included in OCI, Liabilities | 0 | 0 | |||||||||||
| Net Realized Gains/Losses, Liabilities | (2) | (2) | |||||||||||
| Purchased, liabilities | 0 | 0 | |||||||||||
| Sales, liabilities | 0 | 0 | |||||||||||
| Settlements, liabilities | 0 | 0 | |||||||||||
| Balance - End of year, liabilities | 0 | 2 | |||||||||||
| Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Liabilities | $ 0 | $ (2) | |||||||||||
| |||||||||||||
Fair Value Measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Detail) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | $ 13,005 | $ 13,259 |
| Debt Securities, Held-to-maturity | 12,581 | 13,435 |
| Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
| Repurchase agreements | 1,416 | 1,418 |
| Short-term debt | 1,299 | 509 |
| Long-term debt | 13,559 | 12,087 |
| Trust preferred securities | 308 | 308 |
| Total liabilities | 121,612 | 117,459 |
| US Treasury and Government [Member] | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 1,347 | 1,182 |
| Debt Securities, Held-to-maturity | 1,318 | 1,185 |
| Foreign | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 1,485 | 1,542 |
| Debt Securities, Held-to-maturity | 1,423 | 1,549 |
| Corporate securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 2,468 | 2,508 |
| Debt Securities, Held-to-maturity | 2,349 | 2,601 |
| Mortgage-backed securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 2,396 | 2,486 |
| Debt Securities, Held-to-maturity | 2,331 | 2,524 |
| States, municipalities, and political subdivisions | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 5,309 | 5,541 |
| Debt Securities, Held-to-maturity | 5,160 | 5,576 |
| Estimate of Fair Value Measurement [Member] | ||
| Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
| Repurchase agreements | 1,416 | 1,418 |
| Short-term debt, Fair Value | 1,307 | 516 |
| Long-term debt, Fair Value | 15,048 | 12,181 |
| Trust preferred securities | 467 | 409 |
| Total liabilities | 18,238 | 14,524 |
| Reported Value Measurement | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity | 12,581 | 13,435 |
| Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
| Repurchase agreements | 1,416 | 1,418 |
| Short-term debt | 1,299 | 509 |
| Long-term debt | 13,559 | 12,087 |
| Trust preferred securities | 308 | 308 |
| Total liabilities | 16,582 | 14,322 |
| Reported Value Measurement | US Treasury and Government [Member] | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity | 1,318 | 1,185 |
| Reported Value Measurement | Foreign | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity | 1,423 | 1,549 |
| Reported Value Measurement | Corporate securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity | 2,349 | 2,601 |
| Reported Value Measurement | Mortgage-backed securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity | 2,331 | 2,524 |
| Reported Value Measurement | States, municipalities, and political subdivisions | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity | 5,160 | 5,576 |
| Level 1 | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 1,292 | 1,128 |
| Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
| Repurchase agreements | 0 | 0 |
| Short-term debt, Fair Value | 0 | 0 |
| Long-term debt, Fair Value | 0 | 0 |
| Trust preferred securities | 0 | 0 |
| Total liabilities | 0 | 0 |
| Level 1 | US Treasury and Government [Member] | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 1,292 | 1,128 |
| Level 1 | Foreign | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | 0 |
| Level 1 | Corporate securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | 0 |
| Level 1 | Mortgage-backed securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | 0 |
| Level 1 | States, municipalities, and political subdivisions | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | 0 |
| Level 2 | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 11,681 | 12,100 |
| Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
| Repurchase agreements | 1,416 | 1,418 |
| Short-term debt, Fair Value | 1,307 | 516 |
| Long-term debt, Fair Value | 15,048 | 12,181 |
| Trust preferred securities | 467 | 409 |
| Total liabilities | 18,238 | 14,524 |
| Level 2 | US Treasury and Government [Member] | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 55 | 54 |
| Level 2 | Foreign | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 1,485 | 1,542 |
| Level 2 | Corporate securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 2,436 | 2,477 |
| Level 2 | Mortgage-backed securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 2,396 | 2,486 |
| Level 2 | States, municipalities, and political subdivisions | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 5,309 | 5,541 |
| Level 3 | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 32 | 31 |
| Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
| Repurchase agreements | 0 | 0 |
| Short-term debt, Fair Value | 0 | 0 |
| Long-term debt, Fair Value | 0 | 0 |
| Trust preferred securities | 0 | 0 |
| Total liabilities | 0 | 0 |
| Level 3 | US Treasury and Government [Member] | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | 0 |
| Level 3 | Foreign | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | |
| Level 3 | Corporate securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 32 | 31 |
| Level 3 | Mortgage-backed securities | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | 0 | 0 |
| Level 3 | States, municipalities, and political subdivisions | ||
| Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
| Debt Securities, Held-to-maturity, Fair Value | $ 0 | $ 0 |
Reinsurance (Consolidated Reinsurance) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Premiums written [Abstract] | |||||||||||
| Direct | $ 36,848 | $ 34,782 | $ 33,137 | ||||||||
| Assumed | 3,276 | 3,186 | 3,239 | ||||||||
| Ceded | (7,849) | (7,389) | (7,132) | ||||||||
| Net | 32,275 | 30,579 | 29,244 | ||||||||
| Premiums earned [Abstract] | |||||||||||
| Direct | 35,876 | 34,108 | 32,782 | ||||||||
| Assumed | 3,107 | 3,175 | 3,332 | ||||||||
| Ceded | (7,693) | (7,219) | (7,080) | ||||||||
| Net premiums earned | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | 31,290 | 30,064 | 29,034 |
| Reinsurance recoveries on losses and loss expenses incurred | $ 4,900 | $ 5,600 | $ 5,500 | ||||||||
Reinsurance (Reinsurance Recoverable on Ceded Reinsurance) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
||||
|---|---|---|---|---|---|---|---|---|
| Reinsurance Disclosures [Abstract] | ||||||||
| Reinsurance recoverable on unpaid losses | [1] | $ 14,181 | $ 14,689 | $ 14,014 | $ 12,708 | |||
| Reinsurance Recoverables on Unpaid Losses, Allowance | 240 | 251 | ||||||
| Reinsurance recoverable on paid losses and loss expenses | 1,000 | 1,304 | ||||||
| Reinsurance Recoverables on Paid Losses, Allowance | 76 | 72 | ||||||
| Net reinsurance recoverable on losses and loss expenses | [2] | 15,181 | 15,993 | |||||
| Reinsurance Recoverable, Allowance for Credit Loss | 316 | 323 | ||||||
| Reinsurance Recoverable Future Policy Benefits | 197 | 202 | ||||||
| Reinsurance Recoverables on Future Policy Benefits, Allowance | $ 4 | $ 4 | ||||||
| ||||||||
Reinsurance (Reinsurance Recoverable by Category and Listing of Largest Reinsurers) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 15,497 | |
| Provision | $ 316 | $ 323 |
| % of Gross | 2.00% | |
| Largest reinsurers | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 6,594 | |
| Provision | $ 72 | |
| % of Gross | 1.10% | |
| Other reinsurers balances rated A- or better | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 4,624 | |
| Provision | $ 55 | |
| % of Gross | 1.20% | |
| Other reinsurers balances with ratings lower than A- or not rated | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 478 | |
| Provision | $ 70 | |
| % of Gross | 14.60% | |
| Other pools and government agencies | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 379 | |
| Provision | $ 15 | |
| % of Gross | 4.00% | |
| Structured settlements | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 535 | |
| Provision | $ 15 | |
| % of Gross | 2.80% | |
| Other captives | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 2,647 | |
| Provision | $ 20 | |
| % of Gross | 0.80% | |
| Other | ||
| Ceded Credit Risk [Line Items] | ||
| Gross reinsurance recoverable | $ 240 | |
| Provision | $ 69 | |
| % of Gross | 28.80% |
Reinsurance Reinsurance (Assumed Life Reinsurance Programs Involving Minimum Benefit Guarantees Under Annuity Contracts - Schedule Of Guaranteed Minimum Benefits Income And Expense) (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Guaranteed Minimum Benefits [Line Items] | |||||||||||
| Net premiums earned | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | $ 31,290 | $ 30,064 | $ 29,034 |
| Policy benefits and other reserve adjustments | $ 225 | $ 158 | $ 161 | $ 196 | $ 162 | $ 127 | $ 150 | $ 151 | 740 | 590 | 676 |
| Guaranteed Minimum Death Benefit | |||||||||||
| Guaranteed Minimum Benefits [Line Items] | |||||||||||
| Net premiums earned | 41 | 47 | 49 | ||||||||
| Policy benefits and other reserve adjustments | 0 | 20 | 40 | ||||||||
| GLB | |||||||||||
| Guaranteed Minimum Benefits [Line Items] | |||||||||||
| Net premiums earned | 92 | 96 | 110 | ||||||||
| Policy benefits and other reserve adjustments | 122 | 110 | 105 | ||||||||
| Realized Investment Gains (Losses) | (6) | (250) | 363 | ||||||||
| Gain (loss) recognized in income | (36) | (264) | 368 | ||||||||
| Net cash received | 0 | 47 | 65 | ||||||||
| Net (increase) decrease in liability | $ (36) | $ (311) | $ 303 | ||||||||
Reinsurance (Assumed Life Reinsurance Programs Involving Minimum Benefit Guarantees Under Annuity Contracts - Narrative) (Detail) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Guaranteed Minimum Death Benefit | |||||||||||||
| Net Amount at Risk by Product and Guarantee [Line Items] | |||||||||||||
| reported liability | $ 83 | $ 117 | |||||||||||
| GLB | |||||||||||||
| Net Amount at Risk by Product and Guarantee [Line Items] | |||||||||||||
| reported liability | 897 | 861 | $ 550 | $ 853 | |||||||||
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 452 | 204 | 559 | ||||||||||
| Level 3 | GLB | |||||||||||||
| Net Amount at Risk by Product and Guarantee [Line Items] | |||||||||||||
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 456 | [1] | $ 452 | [2] | $ 204 | [3] | $ 559 | ||||||
| |||||||||||||
Reinsurance Reinsurance (Net Amount at Risk and 100 Percent Mortality) (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Guaranteed Minimum Benefits [Line Items] | ||||
| Unpaid losses and loss expenses | $ 62,690 | $ 62,960 | $ 63,179 | $ 60,540 |
| Average attained age of all policyholders under all benefits reinsured, years | 72 years | |||
| GLB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Net Amount at Risk | $ 1,095 | 1,233 | ||
| GMDB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Net Amount at Risk | $ 256 | 408 | ||
| Mortality percentage according to Annuity 2000 mortality table | 100.00% | |||
| GMDB with Both Risk(GMDB and GLB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Net Amount at Risk | $ 91 | 103 | ||
| GLB with Both Risk(GLB and GMDB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Net Amount at Risk | $ 415 | $ 517 | ||
| Minimum | GLB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.00% | |||
| Minimum | GMDB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 3.80% | |||
| Minimum | GMDB with Both Risk(GMDB and GLB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.00% | |||
| Minimum | GLB with Both Risk(GLB and GMDB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.00% | |||
| Maximum | GLB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.30% | |||
| Maximum | GMDB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.00% | |||
| Maximum | GMDB with Both Risk(GMDB and GLB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.30% | |||
| Maximum | GLB with Both Risk(GLB and GMDB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate | 4.30% | |||
| Measurement Input, Mortality Rate [Member] | GMDB | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Unpaid losses and loss expenses | $ 167 | |||
| Measurement Input, Mortality Rate [Member] | GMDB with Both Risk(GMDB and GLB) [Member] | ||||
| Guaranteed Minimum Benefits [Line Items] | ||||
| Unpaid losses and loss expenses | $ 16 |
Intangible Assets (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Goodwill | $ 15,296 | $ 15,271 | $ 15,541 |
| Other intangible assets | 6,100 | 6,100 | |
| Intangible assets subject to amortization | 3,200 | 3,200 | |
| Intangible assets not subject to amortization | 2,900 | 2,900 | |
| Amortization of Purchased Intangibles | $ 305 | $ 339 | $ 260 |
Intangible Assets (Roll-forward of Goodwill by Business Segment) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | $ 15,271 | $ 15,541 |
| Foreign exchange revaluation and other | 25 | (270) |
| Balance at end of period | 15,296 | 15,271 |
| North America Commercial P&C Insurance | ||
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | 6,946 | 6,976 |
| Foreign exchange revaluation and other | 9 | (30) |
| Balance at end of period | 6,955 | 6,946 |
| Segment Insurance North American Personal P&C [Member] [Member] | ||
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | 2,230 | 2,240 |
| Foreign exchange revaluation and other | 4 | (10) |
| Balance at end of period | 2,234 | 2,230 |
| North America Agricultural Insurance | ||
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | 134 | 134 |
| Foreign exchange revaluation and other | 0 | 0 |
| Balance at end of period | 134 | 134 |
| Overseas General Insurance | ||
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | 4,770 | 5,004 |
| Foreign exchange revaluation and other | 15 | (234) |
| Balance at end of period | 4,785 | 4,770 |
| Segment Global Reinsurance [Member] | ||
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | 371 | 365 |
| Foreign exchange revaluation and other | 0 | 6 |
| Balance at end of period | 371 | 371 |
| Life Insurance | ||
| Goodwill [Roll Forward] | ||
| Balance at beginning of period | 820 | 822 |
| Foreign exchange revaluation and other | (3) | (2) |
| Balance at end of period | $ 817 | $ 820 |
Intangible Assets (Estimated Amortization Expense Over Next Five Years) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Finite-Lived Intangible Assets [Line Items] | ||
| 2020, Other intangible assets | $ 290 | |
| 2021, Other intangible assets | 280 | |
| 2022, Other intangible assets | 275 | |
| 2023, Other intangible assets | 261 | |
| 2024, Other intangible assets | 239 | |
| Total, Other intangible assets | 1,345 | |
| Other Intangible Assets [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| 2020, Other intangible assets | 86 | |
| 2021, Other intangible assets | 84 | |
| 2022, Other intangible assets | 93 | |
| 2023, Other intangible assets | 91 | |
| 2024, Other intangible assets | 85 | |
| Total, Other intangible assets | 439 | |
| The Chubb Corporation [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| 2020, Other intangible assets | 204 | |
| 2021, Other intangible assets | 196 | |
| 2022, Other intangible assets | 182 | |
| 2023, Other intangible assets | 170 | |
| 2024, Other intangible assets | 154 | |
| Total, Other intangible assets | 906 | |
| The Chubb Corporation [Member] | Agency distribution relationships and renewal rights [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| 2020, Other intangible assets | 239 | |
| 2021, Other intangible assets | 216 | |
| 2022, Other intangible assets | 196 | |
| 2023, Other intangible assets | 177 | |
| 2024, Other intangible assets | 159 | |
| Total, Other intangible assets | 987 | |
| The Chubb Corporation [Member] | Fair Value Adjustment to Acquired Loss Reserves [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| 2020, Other intangible assets | (35) | |
| 2021, Other intangible assets | (20) | |
| 2022, Other intangible assets | (14) | |
| 2023, Other intangible assets | (7) | |
| 2024, Other intangible assets | (5) | |
| Total, Other intangible assets | (81) | |
| Balance of FV adjustment on Unpaid Losses and Loss Expenses | $ 145 | $ 207 |
| Minimum | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Asset, Useful Life | 1 year | |
| Maximum | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Finite-Lived Intangible Asset, Useful Life | 25 years |
Intangible Assets (VOBA) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| VOBA Roll Forward | |||
| VOBA balance, beginning of year | $ 295 | $ 326 | $ 355 |
| VOBA - Acquisition | 35 | 0 | 0 |
| Amortization of Value of Business Acquired (VOBA) | (24) | (25) | (35) |
| VOBA Foreign exchange revaluation | 0 | (6) | 6 |
| VOBA balance, end of year | 306 | $ 295 | $ 326 |
| Present Value of Future Insurance Profits, Amortization Expense, Next Five Years [Abstract] | |||
| 2020, VOBA | 26 | ||
| 2021, VOBA | 24 | ||
| 2022, VOBA | 22 | ||
| 2023, VOBA | 21 | ||
| 2024, VOBA | 19 | ||
| Total, VOBA | $ 112 | ||
Unpaid losses and loss expenses (Unpaid Losses and Loss Expenses Rollforward) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
| Unpaid Losses and Loss Expenses [Roll Forward] | |||||||
| Gross unpaid losses and loss expenses, beginning of year | $ 62,960 | $ 63,179 | $ 60,540 | ||||
| Reinsurance recoverable on unpaid losses, beginning of year | [1] | (14,689) | (14,014) | (12,708) | |||
| Net unpaid losses and loss expenses, beginning of year | 48,271 | 49,165 | 47,832 | ||||
| Net losses and loss expenses incurred in respect of losses incurring in Current Year | 19,575 | 19,048 | 19,391 | ||||
| Prior Year Claims and Claims Adjustment Expense | [2] | (845) | (981) | (937) | |||
| Total | 18,730 | 18,067 | 18,454 | ||||
| Net losses and loss expenses paid in Current Year | 7,894 | 7,544 | 6,575 | ||||
| Net losses and loss expenses paid in Prior Year | 10,579 | 10,796 | 10,873 | ||||
| Total | 18,473 | 18,340 | 17,448 | ||||
| Foreign currency revaluation and other | (19) | (621) | 327 | ||||
| Net unpaid losses and loss expenses, end of year | 48,509 | 48,271 | 49,165 | ||||
| Reinsurance recoverable on unpaid losses, end of year | [1] | 14,181 | 14,689 | 14,014 | |||
| Gross unpaid losses and loss expenses, end of year | 62,690 | 62,960 | 63,179 | ||||
| Prior Period Development, net adjustments | $ 53 | $ 85 | $ 108 | ||||
| |||||||
Unpaid losses and loss expenses Unpaid losses and loss expenses (Reconciliation of reserve Balances to Liability for Unpaid Loss)(Details) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
||
|---|---|---|---|---|---|---|
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | $ 46,062 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 14,331 | |||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Claim Adjustment Expense, Aggregate Reconciling Items | [1] | 873 | ||||
| Unpaid unallocated loss adjustment expenses | 1,424 | |||||
| Unpaid losses and loss expenses | 62,690 | $ 62,960 | $ 63,179 | $ 60,540 | ||
| North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 9,414 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 1,657 | |||||
| North America Commercial P&C Insurance - Liability [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 16,447 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 5,400 | |||||
| North America Commercial P&C Insurance - Other Casualty [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 1,913 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 546 | |||||
| North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 1,759 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 1,150 | |||||
| North America Personal P&C Insurance [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 2,525 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 603 | |||||
| Overseas General Insurance - Casualty [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 5,977 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 2,113 | |||||
| Overseas General Insurance - Non-Casualty [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 2,377 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 1,263 | |||||
| Global Reinsurance - Casualty [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 1,177 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 35 | |||||
| Global Reinsurance - Non-Casualty [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 255 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | 107 | |||||
| Short-Duration Insurance, Other [Member] | ||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||
| Unpaid Loss and Allocated Loss Adjustment Expenses, Net | 4,218 | |||||
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments | $ 1,457 | |||||
| ||||||
Unpaid losses and loss expenses Unpaid Losses and loss expenses, claims development (Cumulative Net incurred Loss and Allocated Loss Adjustment Expense) (Details) $ in Millions |
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
Dec. 31, 2011
USD ($)
|
Dec. 31, 2010
USD ($)
|
|---|---|---|---|---|---|---|---|---|---|---|
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | $ 46,062 | |||||||||
| North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 11,846 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 5,100 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 2,668 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 9,414 | |||||||||
| North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 34,245 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 19,320 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 1,522 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 16,447 | |||||||||
| North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 5,227 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 3,566 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 252 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 1,913 | |||||||||
| North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 18,124 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 16,376 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 11 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 1,759 | |||||||||
| North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 24,271 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 21,773 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 27 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 2,525 | |||||||||
| Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 12,380 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 6,835 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 432 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 5,977 | |||||||||
| Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 19,023 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 16,743 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 97 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 2,377 | |||||||||
| Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 3,052 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 2,178 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 303 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 1,177 | |||||||||
| Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 2,214 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | 1,965 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 6 | |||||||||
| Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net | 255 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | 999 | $ 1,018 | $ 1,020 | $ 1,028 | $ 1,052 | $ 1,064 | $ 1,065 | $ 1,050 | $ 1,037 | $ 1,049 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 223 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 684 | 666 | 641 | 617 | 592 | 551 | 493 | 411 | 300 | 123 |
| Cumulative Number of Reported Claims | 303,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,983 | 2,993 | 3,105 | 3,125 | 3,247 | 3,416 | 3,556 | 3,597 | 3,579 | 3,574 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 202 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,716 | 2,659 | 2,525 | 2,424 | 2,257 | 1,892 | 1,558 | 1,108 | 611 | 126 |
| Cumulative Number of Reported Claims | 18,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 481 | 484 | 493 | 480 | 478 | 506 | 546 | 601 | 607 | 613 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 16 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 452 | 453 | 449 | 443 | 433 | 392 | 363 | 322 | 236 | 97 |
| Cumulative Number of Reported Claims | 15,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,394 | 1,394 | 1,404 | 1,410 | 1,415 | 1,422 | 1,424 | 1,461 | 1,537 | 1,501 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,391 | 1,391 | 1,395 | 1,394 | 1,391 | 1,382 | 1,357 | 1,320 | 1,222 | 723 |
| Cumulative Number of Reported Claims | 1,057,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,820 | 1,821 | 1,820 | 1,823 | 1,828 | 1,832 | 1,835 | 1,853 | 1,876 | 1,868 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 6 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,812 | 1,810 | 1,809 | 1,803 | 1,791 | 1,770 | 1,727 | 1,668 | 1,521 | 1,151 |
| Cumulative Number of Reported Claims | 146,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,149 | 1,142 | 1,136 | 1,141 | 1,265 | 1,316 | 1,379 | 1,308 | 1,263 | 1,183 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 68 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 983 | 946 | 903 | 850 | 801 | 712 | 605 | 462 | 265 | 102 |
| Cumulative Number of Reported Claims | 37,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,582 | 1,584 | 1,582 | 1,599 | 1,612 | 1,626 | 1,632 | 1,643 | 1,669 | 1,647 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 6 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,562 | 1,550 | 1,545 | 1,544 | 1,537 | 1,524 | 1,486 | 1,424 | 1,226 | 671 |
| Cumulative Number of Reported Claims | 518,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 373 | 387 | 400 | 414 | 424 | 430 | 441 | 430 | 419 | 399 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 23 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 320 | 315 | 306 | 291 | 274 | 249 | 220 | 179 | 125 | 56 |
| Cumulative Number of Reported Claims | 802 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2010 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 217 | 218 | 219 | 218 | 218 | 216 | 212 | 218 | 228 | 194 |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 0 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 214 | 210 | 210 | 207 | 209 | 199 | 193 | 182 | 156 | $ 55 |
| Cumulative Number of Reported Claims | 102 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 988 | 1,009 | 1,012 | 1,022 | 1,053 | 1,049 | 1,046 | 1,030 | 1,037 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 233 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 640 | 616 | 595 | 567 | 533 | 484 | 411 | 294 | 119 | |
| Cumulative Number of Reported Claims | 286,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,190 | 3,312 | 3,380 | 3,494 | 3,590 | 3,660 | 3,626 | 3,582 | 3,496 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 299 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,824 | 2,738 | 2,657 | 2,474 | 2,212 | 1,803 | 1,208 | 651 | 160 | |
| Cumulative Number of Reported Claims | 18,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 512 | 510 | 516 | 524 | 533 | 548 | 581 | 589 | 580 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 24 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 486 | 480 | 466 | 461 | 437 | 400 | 341 | 235 | 86 | |
| Cumulative Number of Reported Claims | 15,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,833 | 1,832 | 1,832 | 1,837 | 1,833 | 1,853 | 1,875 | 1,932 | 1,958 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 10 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,822 | 1,819 | 1,813 | 1,808 | 1,785 | 1,775 | 1,715 | 1,571 | 938 | |
| Cumulative Number of Reported Claims | 1,051,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,156 | 2,156 | 2,157 | 2,158 | 2,162 | 2,170 | 2,182 | 2,207 | 2,205 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 8 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,146 | 2,143 | 2,136 | 2,126 | 2,103 | 2,049 | 1,969 | 1,833 | 1,358 | |
| Cumulative Number of Reported Claims | 166,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 988 | 991 | 1,042 | 1,054 | 1,117 | 1,200 | 1,210 | 1,218 | 1,211 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 35 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 848 | 815 | 764 | 691 | 612 | 513 | 384 | 240 | 87 | |
| Cumulative Number of Reported Claims | 37,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,810 | 1,814 | 1,824 | 1,832 | 1,843 | 1,861 | 1,900 | 1,956 | 1,871 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,773 | 1,773 | 1,769 | 1,761 | 1,746 | 1,716 | 1,660 | 1,460 | 758 | |
| Cumulative Number of Reported Claims | 544,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 401 | 407 | 413 | 417 | 427 | 432 | 428 | 414 | 407 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 27 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 331 | 324 | 311 | 291 | 267 | 236 | 195 | 146 | 70 | |
| Cumulative Number of Reported Claims | 659 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2011 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 259 | 259 | 259 | 260 | 258 | 258 | 268 | 270 | 269 | |
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 256 | 254 | 253 | 251 | 246 | 228 | 204 | 174 | $ 85 | |
| Cumulative Number of Reported Claims | 132 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 977 | 986 | 989 | 1,011 | 1,040 | 1,030 | 1,011 | 1,050 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 275 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 592 | 574 | 532 | 486 | 436 | 365 | 271 | 111 | ||
| Cumulative Number of Reported Claims | 287,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,231 | 3,326 | 3,422 | 3,520 | 3,560 | 3,609 | 3,624 | 3,548 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 430 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,615 | 2,499 | 2,324 | 2,090 | 1,678 | 1,171 | 655 | 166 | ||
| Cumulative Number of Reported Claims | 18,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 507 | 508 | 519 | 520 | 560 | 577 | 605 | 633 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 493 | 486 | 470 | 435 | 386 | 319 | 222 | 69 | ||
| Cumulative Number of Reported Claims | 15,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,847 | 1,841 | 1,844 | 1,856 | 1,861 | 1,880 | 1,913 | 2,030 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,839 | 1,813 | 1,819 | 1,792 | 1,764 | 1,696 | 1,575 | 713 | ||
| Cumulative Number of Reported Claims | 1,035,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,192 | 2,186 | 2,184 | 2,183 | 2,189 | 2,181 | 2,181 | 2,183 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 20 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,161 | 2,161 | 2,147 | 2,115 | 2,061 | 1,955 | 1,804 | 1,175 | ||
| Cumulative Number of Reported Claims | 170,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,255 | 1,265 | 1,285 | 1,294 | 1,297 | 1,279 | 1,217 | 1,246 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 137 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 939 | 897 | 826 | 689 | 577 | 428 | 245 | 74 | ||
| Cumulative Number of Reported Claims | 38,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,556 | 1,561 | 1,577 | 1,585 | 1,591 | 1,646 | 1,686 | 1,696 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 14 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,517 | 1,515 | 1,502 | 1,493 | 1,470 | 1,412 | 1,226 | 681 | ||
| Cumulative Number of Reported Claims | 556,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 372 | 370 | 371 | 378 | 393 | 390 | 382 | 385 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 10 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 334 | 322 | 307 | 292 | 260 | 221 | 167 | 77 | ||
| Cumulative Number of Reported Claims | 457 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2012 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 184 | 184 | 187 | 189 | 191 | 200 | 210 | 230 | ||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 180 | 179 | 177 | 172 | 166 | 156 | 130 | $ 45 | ||
| Cumulative Number of Reported Claims | 113 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,037 | 1,073 | 1,086 | 1,127 | 1,122 | 1,108 | 1,109 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 309 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 616 | 587 | 553 | 506 | 422 | 286 | 107 | |||
| Cumulative Number of Reported Claims | 299,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,118 | 3,212 | 3,426 | 3,528 | 3,538 | 3,538 | 3,543 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 500 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,371 | 2,230 | 2,005 | 1,595 | 1,191 | 547 | 130 | |||
| Cumulative Number of Reported Claims | 17,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 461 | 462 | 468 | 515 | 522 | 530 | 526 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 29 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 418 | 411 | 385 | 348 | 270 | 197 | 69 | |||
| Cumulative Number of Reported Claims | 17,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,334 | 1,337 | 1,337 | 1,356 | 1,333 | 1,420 | 1,430 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,329 | 1,321 | 1,308 | 1,282 | 1,234 | 1,135 | 649 | |||
| Cumulative Number of Reported Claims | 1,072,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,938 | 1,931 | 1,918 | 1,894 | 1,890 | 1,882 | 1,854 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 26 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,890 | 1,879 | 1,837 | 1,781 | 1,682 | 1,499 | 1,040 | |||
| Cumulative Number of Reported Claims | 122,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,136 | 1,193 | 1,226 | 1,272 | 1,229 | 1,233 | 1,237 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 139 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 865 | 798 | 699 | 558 | 414 | 261 | 85 | |||
| Cumulative Number of Reported Claims | 38,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,609 | 1,621 | 1,651 | 1,656 | 1,703 | 1,770 | 1,778 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 27 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,562 | 1,553 | 1,534 | 1,497 | 1,466 | 1,273 | 698 | |||
| Cumulative Number of Reported Claims | 574,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 316 | 323 | 330 | 329 | 328 | 326 | 320 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 20 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 268 | 259 | 241 | 222 | 186 | 143 | 65 | |||
| Cumulative Number of Reported Claims | 341 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2013 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 140 | 140 | 143 | 142 | 147 | 159 | 161 | |||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 0 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 135 | 135 | 132 | 129 | 120 | 102 | $ 46 | |||
| Cumulative Number of Reported Claims | 121 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,100 | 1,163 | 1,215 | 1,217 | 1,201 | 1,207 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 395 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 566 | 532 | 484 | 410 | 295 | 113 | ||||
| Cumulative Number of Reported Claims | 336,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,467 | 3,652 | 3,713 | 3,671 | 3,582 | 3,532 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 792 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,440 | 2,200 | 1,802 | 1,249 | 679 | 164 | ||||
| Cumulative Number of Reported Claims | 17,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 538 | 555 | 596 | 581 | 583 | 594 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 45 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 473 | 454 | 391 | 317 | 220 | 80 | ||||
| Cumulative Number of Reported Claims | 17,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,547 | 1,546 | 1,555 | 1,576 | 1,658 | 1,642 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 7 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,543 | 1,528 | 1,502 | 1,481 | 1,370 | 818 | ||||
| Cumulative Number of Reported Claims | 1,100,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,143 | 2,156 | 2,142 | 2,189 | 2,203 | 2,202 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 19 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,103 | 2,076 | 2,031 | 1,922 | 1,762 | 1,308 | ||||
| Cumulative Number of Reported Claims | 132,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,167 | 1,249 | 1,333 | 1,317 | 1,308 | 1,238 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 208 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 786 | 704 | 591 | 461 | 287 | 111 | ||||
| Cumulative Number of Reported Claims | 39,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,804 | 1,814 | 1,851 | 1,862 | 1,920 | 1,852 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 15 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,741 | 1,727 | 1,696 | 1,632 | 1,423 | 758 | ||||
| Cumulative Number of Reported Claims | 549,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 346 | 343 | 341 | 338 | 333 | 332 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 39 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 276 | 264 | 248 | 217 | 184 | 91 | ||||
| Cumulative Number of Reported Claims | 382 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2014 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 180 | 181 | 183 | 180 | 180 | 164 | ||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 171 | 169 | 163 | 152 | 129 | $ 65 | ||||
| Cumulative Number of Reported Claims | 101 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,217 | 1,279 | 1,276 | 1,259 | 1,282 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 500 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 564 | 501 | 418 | 301 | 116 | |||||
| Cumulative Number of Reported Claims | 334,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,939 | 3,971 | 3,814 | 3,705 | 3,556 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1,232 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,289 | 1,854 | 1,205 | 605 | 138 | |||||
| Cumulative Number of Reported Claims | 19,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 458 | 515 | 501 | 470 | 486 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 51 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 370 | 304 | 214 | 137 | 47 | |||||
| Cumulative Number of Reported Claims | 15,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,602 | 1,635 | 1,647 | 1,742 | 1,733 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 17 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,570 | 1,554 | 1,486 | 1,341 | 725 | |||||
| Cumulative Number of Reported Claims | 1,170,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,559 | 2,540 | 2,557 | 2,546 | 2,491 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 30 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,475 | 2,388 | 2,267 | 2,081 | 1,497 | |||||
| Cumulative Number of Reported Claims | 135,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,286 | 1,311 | 1,288 | 1,259 | 1,164 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 287 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 780 | 661 | 484 | 281 | 86 | |||||
| Cumulative Number of Reported Claims | 41,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,999 | 2,017 | 2,051 | 2,075 | 1,952 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 38 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,881 | 1,858 | 1,778 | 1,546 | 852 | |||||
| Cumulative Number of Reported Claims | 571,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 308 | 300 | 299 | 288 | 284 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 33 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 232 | 217 | 191 | 159 | 90 | |||||
| Cumulative Number of Reported Claims | 298 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2015 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 153 | 161 | 161 | 154 | 146 | |||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 146 | 142 | 132 | 103 | $ 56 | |||||
| Cumulative Number of Reported Claims | 115 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,378 | 1,383 | 1,361 | 1,366 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 673 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 529 | 452 | 326 | 122 | ||||||
| Cumulative Number of Reported Claims | 304,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,801 | 3,688 | 3,591 | 3,530 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1,279 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,974 | 1,335 | 662 | 171 | ||||||
| Cumulative Number of Reported Claims | 20,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 524 | 527 | 502 | 504 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 136 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 323 | 246 | 145 | 52 | ||||||
| Cumulative Number of Reported Claims | 15,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,778 | 1,797 | 1,887 | 1,907 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 16 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,729 | 1,653 | 1,502 | 845 | ||||||
| Cumulative Number of Reported Claims | 1,291,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,479 | 2,541 | 2,532 | 2,436 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 78 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,311 | 2,208 | 2,049 | 1,451 | ||||||
| Cumulative Number of Reported Claims | 138,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,385 | 1,357 | 1,291 | 1,191 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 428 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 667 | 520 | 316 | 123 | ||||||
| Cumulative Number of Reported Claims | 42,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,018 | 2,040 | 2,052 | 2,050 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 17 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,938 | 1,865 | 1,670 | 1,015 | ||||||
| Cumulative Number of Reported Claims | 567,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 233 | 234 | 226 | 222 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 30 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 159 | 142 | 113 | 57 | ||||||
| Cumulative Number of Reported Claims | 341 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2016 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 190 | 188 | 186 | 180 | ||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 12 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 169 | 158 | 131 | $ 56 | ||||||
| Cumulative Number of Reported Claims | 182 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,399 | 1,380 | 1,412 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 783 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 437 | 313 | 120 | |||||||
| Cumulative Number of Reported Claims | 339,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,577 | 3,495 | 3,319 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1,818 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,161 | 616 | 161 | |||||||
| Cumulative Number of Reported Claims | 21,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 577 | 566 | 531 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 174 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 312 | 175 | 66 | |||||||
| Cumulative Number of Reported Claims | 16,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,503 | 2,605 | 2,701 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 71 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,301 | 2,085 | 978 | |||||||
| Cumulative Number of Reported Claims | 1,374,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,998 | 3,066 | 3,031 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 171 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,664 | 2,517 | 1,696 | |||||||
| Cumulative Number of Reported Claims | 142,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,335 | 1,286 | 1,185 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 495 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 520 | 314 | 96 | |||||||
| Cumulative Number of Reported Claims | 41,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,220 | 2,238 | 2,198 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 46 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,005 | 1,830 | 1,046 | |||||||
| Cumulative Number of Reported Claims | 577,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 219 | 214 | 213 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 45 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 122 | 100 | 46 | |||||||
| Cumulative Number of Reported Claims | 529 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2017 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 453 | 423 | 396 | |||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 10 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 402 | 322 | $ 191 | |||||||
| Cumulative Number of Reported Claims | 309 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,360 | 1,359 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 788 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 329 | 130 | ||||||||
| Cumulative Number of Reported Claims | 362,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,490 | 3,371 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 2,170 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 754 | 189 | ||||||||
| Cumulative Number of Reported Claims | 24,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 563 | 535 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 298 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 169 | 74 | ||||||||
| Cumulative Number of Reported Claims | 15,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,237 | 2,050 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 182 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,823 | 1,026 | ||||||||
| Cumulative Number of Reported Claims | 1,551,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,033 | 3,006 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 295 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 2,545 | 1,924 | ||||||||
| Cumulative Number of Reported Claims | 148,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,333 | 1,283 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 789 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 325 | 109 | ||||||||
| Cumulative Number of Reported Claims | 40,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,244 | 2,153 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 124 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,726 | 994 | ||||||||
| Cumulative Number of Reported Claims | 622,000 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 246 | 244 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 65 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 96 | 41 | ||||||||
| Cumulative Number of Reported Claims | 589 | |||||||||
| Short-duration Insurance Contracts, Accident Year 2018 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 297 | 285 | ||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | (6) | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 257 | $ 94 | ||||||||
| Cumulative Number of Reported Claims | 212 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,391 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 997 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 143 | |||||||||
| Cumulative Number of Reported Claims | 246,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Liability [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 3,449 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 3,005 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 176 | |||||||||
| Cumulative Number of Reported Claims | 25,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Other Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 606 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 428 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 70 | |||||||||
| Cumulative Number of Reported Claims | 14,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,049 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 587 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,029 | |||||||||
| Cumulative Number of Reported Claims | 1,446,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Personal P&C Insurance [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,953 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 725 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,666 | |||||||||
| Cumulative Number of Reported Claims | 116,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | Overseas General Insurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 1,346 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 1,011 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 122 | |||||||||
| Cumulative Number of Reported Claims | 32,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | Overseas General Insurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 2,181 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 376 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 1,038 | |||||||||
| Cumulative Number of Reported Claims | 608,000 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | Global Reinsurance - Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 238 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 130 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 40 | |||||||||
| Cumulative Number of Reported Claims | 219 | |||||||||
| Short-Duration Insurance Contract, Accident Year 2019 [Member] | Global Reinsurance - Non-Casualty [Member] | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net | $ 141 | |||||||||
| Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net | 73 | |||||||||
| Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net | $ 35 | |||||||||
| Cumulative Number of Reported Claims | 32 |
Unpaid losses and loss expenses Unpaid losses and loss expenses (Details) (Supplementary PPD) (Details) $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
USD ($)
| |
| North America Commercial P&C Insurance - Workers' Compensation [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | $ (288) |
| North America Commercial P&C Insurance - Workers' Compensation [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (93) |
| North America Commercial P&C Insurance - Liability [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (273) |
| North America Commercial P&C Insurance - Liability [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (49) |
| North America Commercial P&C Insurance - Other Casualty [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (36) |
| North America Commercial P&C Insurance - Other Casualty [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | 5 |
| North America Commercial P&C Insurance - Non-Casualty [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | 32 |
| North America Commercial P&C Insurance - Non-Casualty [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (6) |
| North America Personal P&C Insurance [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (86) |
| North America Personal P&C Insurance [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (1) |
| Overseas General Insurance - Casualty [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (61) |
| Overseas General Insurance - Casualty [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (18) |
| Overseas General Insurance - Non-Casualty [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | 1 |
| Overseas General Insurance - Non-Casualty [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | 1 |
| Global Reinsurance - Casualty [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (58) |
| Global Reinsurance - Casualty [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | (50) |
| Global Reinsurance - Non-Casualty [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | 30 |
| Global Reinsurance - Non-Casualty [Member] | prior to 2010 [Member] | |
| Supplementary PPD [Line Items] | |
| Short-Duration PPD | $ (4) |
Unpaid losses and loss expenses Unpaid losses and loss expenses (Average Annual Payout) (Details) |
Dec. 31, 2019 |
|---|---|
| North America Commercial P&C Insurance - Workers' Compensation [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 10.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 16.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 10.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 7.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 5.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 3.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 2.00% |
| North America Commercial P&C Insurance - Liability [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 5.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 14.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 17.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 16.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 12.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 8.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 5.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 3.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 2.00% |
| North America Commercial P&C Insurance - Other Casualty [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 14.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 24.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 19.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 14.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 9.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 6.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 0.00% |
| North America Commercial P&C Insurance - Non-Casualty [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 47.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 39.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 8.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 3.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 0.00% |
| North America Personal P&C Insurance [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 59.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 23.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 7.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 3.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 0.00% |
| Overseas General Insurance - Casualty [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 8.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 15.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 15.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 12.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 10.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 9.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 6.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 3.00% |
| Overseas General Insurance - Non-Casualty [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 45.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 35.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 11.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 3.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 1.00% |
| Global Reinsurance - Casualty [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 21.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 23.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 12.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 10.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 7.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 5.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 4.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 2.00% |
| Global Reinsurance - Non-Casualty [Member] | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Short-duration Insurance Contracts, Historical Claims Duration, Year One | 33.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Two | 36.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Three | 15.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Four | 6.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Five | 3.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Six | 2.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Seven | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Eight | 1.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Nine | 0.00% |
| Short-duration Insurance Contracts, Historical Claims Duration, Year Ten | 0.00% |
Unpaid losses and loss expenses Unpaid losses and loss expenses (Details) (Supplementary PPD Reconciliation) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | [1] | $ (845) | $ (981) | $ (937) | |||||||
| Prior Period Development, net Adjustments | 53 | 85 | 108 | ||||||||
| Net Prior Period Development | (792) | (896) | (829) | ||||||||
| Alternative Risk Solutions [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (82) | ||||||||||
| North America Workers' Compensation [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 22 | ||||||||||
| Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | (642) | (486) | (423) | ||||||||
| Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | (150) | (410) | (406) | ||||||||
| Segments included in loss triangles [Domain] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (895) | ||||||||||
| Other PPD adjustments | [2] | (156) | |||||||||
| Prior Period Development, net Adjustments | 30 | ||||||||||
| Net Prior Period Development | (865) | ||||||||||
| Segments included in loss triangles [Domain] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (215) | ||||||||||
| Segments included in loss triangles [Domain] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (524) | ||||||||||
| North America Commercial P&C Insurance | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (683) | ||||||||||
| Other PPD adjustments | [2],[3] | (118) | |||||||||
| Prior Period Development, net Adjustments | 34 | ||||||||||
| Net Prior Period Development | (649) | (610) | (746) | ||||||||
| North America Commercial P&C Insurance | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (143) | ||||||||||
| North America Commercial P&C Insurance | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (422) | ||||||||||
| North America Commercial P&C Insurance | Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (707) | ||||||||||
| Other PPD adjustments | [2] | (110) | |||||||||
| Prior Period Development, net Adjustments | 39 | ||||||||||
| Net Prior Period Development | (668) | (395) | (562) | ||||||||
| North America Commercial P&C Insurance | Long Tail [Member] | North America Workers' Compensation [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | (303) | (194) | |||||||||
| North America Commercial P&C Insurance | Long Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (137) | ||||||||||
| North America Commercial P&C Insurance | Long Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (460) | ||||||||||
| North America Commercial P&C Insurance | Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 24 | ||||||||||
| Other PPD adjustments | [2] | (8) | |||||||||
| Prior Period Development, net Adjustments | (5) | ||||||||||
| Net Prior Period Development | 19 | (215) | (184) | ||||||||
| North America Commercial P&C Insurance | Short Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (6) | ||||||||||
| North America Commercial P&C Insurance | Short Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 38 | ||||||||||
| North America Personal P&C Insurance [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | (95) | 41 | 69 | ||||||||
| North America Personal P&C Insurance [Member] | Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | 0 | 0 | 0 | ||||||||
| North America Personal P&C Insurance [Member] | Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (91) | ||||||||||
| Other PPD adjustments | [2] | (5) | |||||||||
| Prior Period Development, net Adjustments | (4) | ||||||||||
| Net Prior Period Development | (95) | 41 | 69 | ||||||||
| North America Personal P&C Insurance [Member] | Short Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (1) | ||||||||||
| North America Personal P&C Insurance [Member] | Short Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (85) | ||||||||||
| Overseas General Insurance | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (93) | ||||||||||
| Other PPD adjustments | [2],[4] | (33) | |||||||||
| Prior Period Development, net Adjustments | 1 | ||||||||||
| Net Prior Period Development | (92) | (212) | (252) | ||||||||
| Overseas General Insurance | International A&H [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (37) | ||||||||||
| Overseas General Insurance | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (17) | ||||||||||
| Overseas General Insurance | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (43) | ||||||||||
| Overseas General Insurance | Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (68) | ||||||||||
| Other PPD adjustments | [2] | (7) | |||||||||
| Prior Period Development, net Adjustments | 0 | ||||||||||
| Net Prior Period Development | (68) | (67) | (71) | ||||||||
| Overseas General Insurance | Long Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (18) | ||||||||||
| Overseas General Insurance | Long Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (43) | ||||||||||
| Overseas General Insurance | Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (25) | ||||||||||
| Other PPD adjustments | [2] | (26) | |||||||||
| Prior Period Development, net Adjustments | 1 | ||||||||||
| Net Prior Period Development | (24) | (145) | (181) | ||||||||
| Overseas General Insurance | Short Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 1 | ||||||||||
| Overseas General Insurance | Short Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 0 | ||||||||||
| Segment Global Reinsurance [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (28) | ||||||||||
| Other PPD adjustments | [2] | 0 | |||||||||
| Prior Period Development, net Adjustments | (1) | ||||||||||
| Net Prior Period Development | (29) | (50) | (59) | ||||||||
| Segment Global Reinsurance [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (54) | ||||||||||
| Segment Global Reinsurance [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 26 | ||||||||||
| Segment Global Reinsurance [Member] | Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (59) | ||||||||||
| Other PPD adjustments | [2] | (1) | |||||||||
| Prior Period Development, net Adjustments | 0 | ||||||||||
| Net Prior Period Development | (59) | (69) | (68) | ||||||||
| Segment Global Reinsurance [Member] | Long Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (50) | ||||||||||
| Segment Global Reinsurance [Member] | Long Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (8) | ||||||||||
| Segment Global Reinsurance [Member] | Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 31 | ||||||||||
| Other PPD adjustments | [2] | 1 | |||||||||
| Prior Period Development, net Adjustments | (1) | ||||||||||
| Net Prior Period Development | 30 | 19 | 9 | ||||||||
| Segment Global Reinsurance [Member] | Short Tail [Member] | prior to 2010 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (4) | ||||||||||
| Segment Global Reinsurance [Member] | Short Tail [Member] | 2010 to 2018 [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 34 | ||||||||||
| North America Agricultural Insurance | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | (80) | (110) | (119) | ||||||||
| North America Agricultural Insurance | Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | 0 | 0 | 0 | ||||||||
| North America Agricultural Insurance | Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | (103) | ||||||||||
| Prior Period Development, net Adjustments | 23 | ||||||||||
| Net Prior Period Development | (80) | (110) | (119) | ||||||||
| Corporate Segment [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | 153 | 45 | 278 | ||||||||
| Corporate Segment [Member] | Long Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Prior Year Claims and Claims Adjustment Expense | 153 | ||||||||||
| Prior Period Development, net Adjustments | 0 | ||||||||||
| Net Prior Period Development | 153 | 45 | 278 | ||||||||
| Corporate Segment [Member] | Short Tail [Member] | |||||||||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||||||||
| Net Prior Period Development | $ 0 | $ 0 | $ 0 | ||||||||
| |||||||||||
Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (792) | $ (896) | $ (829) | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 1.60% | 1.80% | 1.70% | |
| Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (642) | $ (486) | $ (423) | ||
| Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | (150) | (410) | (406) | ||
| North America Commercial P&C Insurance | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (649) | $ (610) | $ (746) | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 1.30% | 1.20% | 1.60% | |
| North America Commercial P&C Insurance | Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (668) | $ (395) | $ (562) | ||
| North America Commercial P&C Insurance | Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | 19 | (215) | (184) | ||
| North America Personal P&C Insurance [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (95) | $ 41 | $ 69 | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.20% | 0.10% | 0.10% | |
| North America Personal P&C Insurance [Member] | Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ 0 | $ 0 | $ 0 | ||
| North America Personal P&C Insurance [Member] | Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | (95) | 41 | 69 | ||
| North America Agricultural Insurance | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (80) | $ (110) | $ (119) | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.20% | 0.20% | 0.20% | |
| North America Agricultural Insurance | Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ 0 | $ 0 | $ 0 | ||
| North America Agricultural Insurance | Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | (80) | (110) | (119) | ||
| Overseas General Insurance | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (92) | $ (212) | $ (252) | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.20% | 0.40% | 0.50% | |
| Overseas General Insurance | Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (68) | $ (67) | $ (71) | ||
| Overseas General Insurance | Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | (24) | (145) | (181) | ||
| Segment Global Reinsurance [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (29) | $ (50) | $ (59) | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.10% | 0.10% | 0.10% | |
| Segment Global Reinsurance [Member] | Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ (59) | $ (69) | $ (68) | ||
| Segment Global Reinsurance [Member] | Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | 30 | 19 | 9 | ||
| Corporate Segment [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ 153 | $ 45 | $ 278 | ||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.30% | 0.10% | 0.60% | |
| Corporate Segment [Member] | Long Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ 153 | $ 45 | $ 278 | ||
| Corporate Segment [Member] | Short Tail [Member] | |||||
| Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items] | |||||
| Net Prior Period Development | $ 0 | $ 0 | $ 0 | ||
| |||||
Unpaid losses and loss expenses (A&E Loss Roll-forward) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (gross) at beginning of year | $ 2,117 | $ 2,228 | $ 2,303 | ||
| Balance (net) at beginning of year | 1,447 | 1,527 | 1,609 | ||
| Incurred activity, gross | 175 | 237 | 427 | ||
| Incurred activity, net | [1] | 98 | (22) | 217 | |
| Paid activity, gross | (304) | (348) | (502) | ||
| Paid activity, net | (219) | (58) | (299) | ||
| Balance (gross) at end of year | 1,988 | 2,117 | 2,228 | ||
| Balance (net) at end of year | 1,326 | 1,447 | 1,527 | ||
| Asbestos Issue [Member] | |||||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (gross) at beginning of year | 1,492 | 1,621 | 1,726 | ||
| Balance (net) at beginning of year | 964 | 1,051 | 1,119 | ||
| Incurred activity, gross | 129 | 136 | 228 | ||
| Incurred activity, net | 70 | 75 | 104 | ||
| Paid activity, gross | (162) | (265) | (333) | ||
| Paid activity, net | (118) | (162) | (172) | ||
| Balance (gross) at end of year | 1,459 | 1,492 | 1,621 | ||
| Balance (net) at end of year | 916 | 964 | 1,051 | ||
| Environmental Issue [Member] | |||||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (gross) at beginning of year | 625 | 607 | 577 | ||
| Balance (net) at beginning of year | 483 | 476 | 490 | ||
| Incurred activity, gross | 46 | 101 | 199 | ||
| Incurred activity, net | 28 | (97) | 113 | ||
| Paid activity, gross | (142) | (83) | (169) | ||
| Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease) | (101) | 104 | (127) | ||
| Balance (gross) at end of year | 529 | 625 | 607 | ||
| Balance (net) at end of year | 410 | 483 | $ 476 | ||
| Brandywine [Member] | |||||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (net) at beginning of year | 807 | ||||
| Balance (net) at end of year | 754 | 807 | |||
| Westchester Specialty [Member] | |||||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (net) at beginning of year | 120 | ||||
| Balance (net) at end of year | 117 | 120 | |||
| Other Segments [Member] | |||||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (net) at beginning of year | 78 | ||||
| Balance (net) at end of year | 74 | 78 | |||
| The Chubb Corporation [Member] | |||||
| Liability For Asbestos And Environmental Claims Net Roll Forward | |||||
| Balance (net) at beginning of year | 442 | ||||
| Balance (net) at end of year | $ 381 | $ 442 | |||
| |||||
Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2011 |
Dec. 31, 2010 |
Dec. 31, 2004 |
|||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (792) | $ (896) | $ (829) | ||||||
| Prior Period Development, net Adjustments | $ 53 | $ 85 | $ 108 | ||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 1.60% | 1.80% | 1.70% | |||||
| Incurred activity | $ 18,730 | $ 18,067 | $ 18,454 | ||||||
| Liability for Claims and Claims Adjustment Expense | 62,690 | 62,960 | 63,179 | $ 60,540 | |||||
| Brandywine Run-off [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Incurred activity | 622 | ||||||||
| Reinsurance coverage to Century provided by ACE INA under XOL | 800 | ||||||||
| Statutory capital and surplus | 25 | ||||||||
| Dividend retention fund established by INA Financial Corporation | 50 | ||||||||
| Required minimum balance under the dividend retention fund | 50 | ||||||||
| Contributions to the dividend retention fund | 90 | 50 | $ 35 | $ 15 | |||||
| Minimum contribution from the dividend retention fund to Century not required for XOL agreement | 200 | ||||||||
| Dividend Retention Fund Contribution to XOL | 64 | 39 | |||||||
| Aggregate reinsurance balances ceded by active ACE companies to Century | 1,500 | 1,500 | |||||||
| Liability for Claims and Claims Adjustment Expense | $ 1,800 | 2,000 | |||||||
| Surplus note | $ 100 | ||||||||
| Westchester and Brandywine Run-off [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| NICO pro-rata share of reinsurance protection (percent) | 75.00% | ||||||||
| NICO retention for losses and loss expenses incurred on or before 12/31/1996 | $ 721 | ||||||||
| NICO reinsurance protection on losses and loss expenses incurred on or before 12/31/1996, net of retenion | 1,000 | ||||||||
| NICO reinsurance protection on losses and loss expenses | 384 | ||||||||
| Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (642) | (486) | (423) | ||||||
| Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (150) | (410) | (406) | ||||||
| North America Commercial P&C Insurance | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (649) | $ (610) | $ (746) | ||||||
| Prior Period Development, net Adjustments | $ 34 | ||||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 1.30% | 1.20% | 1.60% | |||||
| North America Commercial P&C Insurance | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (668) | $ (395) | $ (562) | ||||||
| Prior Period Development, net Adjustments | 39 | ||||||||
| North America Commercial P&C Insurance | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 19 | (215) | (184) | ||||||
| Prior Period Development, net Adjustments | (5) | ||||||||
| North America Commercial P&C Insurance | North America Commercial P&C Insurance - Workers' Compensation [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (303) | (194) | |||||||
| North America Commercial P&C Insurance | Commercial Excess and Umbrella [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (41) | ||||||||
| North America Commercial P&C Insurance | Multi-Line [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (34) | ||||||||
| North America Commercial P&C Insurance | Credit-related [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (19) | ||||||||
| North America Commercial P&C Insurance | Other [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 26 | ||||||||
| North America Commercial P&C Insurance | Other [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (60) | ||||||||
| North America Commercial P&C Insurance | Commercial Property and Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (155) | ||||||||
| North America Commercial P&C Insurance | Auto Liability Excess Lines [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 38 | ||||||||
| North America Commercial P&C Insurance | Non-catastrophe [Member] | Property and Inland Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 108 | ||||||||
| North America Commercial P&C Insurance | Catastrophe [Member] | Property and Inland Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (36) | ||||||||
| North America Commercial P&C Insurance | Accident years 2015 through 2017 [Member] | Medical Portfolios [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 91 | ||||||||
| North America Commercial P&C Insurance | Accident years 2015 through 2017 [Member] | Other [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 109 | ||||||||
| North America Commercial P&C Insurance | Accident years 2014 and prior [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (138) | ||||||||
| North America Commercial P&C Insurance | Accident years 2014 and prior [Member] | Foreign Casualty Line [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (28) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2015 [Member] | Political [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (23) | ||||||||
| North America Commercial P&C Insurance | Accident years 2012 and prior [Member] | Commercial Excess and Umbrella [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (100) | ||||||||
| North America Commercial P&C Insurance | Accident years 2002 and prior [Member] | Professional Liability [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (33) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2014 [Member] | Political [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (23) | ||||||||
| North America Commercial P&C Insurance | Accident Year 2013 and prior [Member] | Management Liability [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (199) | ||||||||
| North America Commercial P&C Insurance | Accident years 2017 - 2018 [Member] | Catastrophe [Member] | Property and Inland Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (41) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (56) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2017 [Member] | Credit-related [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (49) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2017 [Member] | Catastrophe [Member] | Commercial Property and Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (129) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (61) | ||||||||
| North America Commercial P&C Insurance | Short-duration Insurance Contracts, Accident Year 2018 [Member] | Property and Inland Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 152 | ||||||||
| North America Commercial P&C Insurance | Accident years 2017 and prior [Member] | Non-catastrophe [Member] | Property and Inland Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (44) | ||||||||
| North America Commercial P&C Insurance | Accident Year 2015 and prior [Member] | Professional Errors and Omissions Insurance [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (60) | ||||||||
| North America Commercial P&C Insurance | Accident Year 2015 and prior [Member] | Foreign Casualty Line [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (39) | ||||||||
| North America Commercial P&C Insurance | Accident Year 2015 and prior [Member] | Multi-Line [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (36) | ||||||||
| North America Commercial P&C Insurance | Accident Year 2015 and prior [Member] | Medical and Life Sciences [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (24) | ||||||||
| North America Commercial P&C Insurance | Accident Year 2015 and prior [Member] | Management Liability [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (217) | ||||||||
| North America Personal P&C Insurance [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (95) | $ 41 | $ 69 | ||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.20% | 0.10% | 0.10% | |||||
| North America Personal P&C Insurance [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ 0 | $ 0 | $ 0 | ||||||
| North America Personal P&C Insurance [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (95) | 41 | 69 | ||||||
| Prior Period Development, net Adjustments | (4) | ||||||||
| North America Personal P&C Insurance [Member] | Auto Liability and Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (16) | ||||||||
| North America Personal P&C Insurance [Member] | Short-duration Insurance Contracts, Accident Year 2015 [Member] | Personal Excess [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (24) | ||||||||
| North America Personal P&C Insurance [Member] | Accident years 2017 - 2018 [Member] | Catastrophe [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (132) | ||||||||
| North America Personal P&C Insurance [Member] | Short-duration Insurance Contracts, Accident Year 2016 [Member] | Personal lines [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (26) | ||||||||
| North America Personal P&C Insurance [Member] | Short-duration Insurance Contracts, Accident Year 2017 [Member] | Homeowners and Valuables Lines [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 63 | ||||||||
| North America Personal P&C Insurance [Member] | Short-duration Insurance Contracts, Accident Year 2017 [Member] | Catastrophe [Member] | Homeowners and Valuables Lines [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (73) | ||||||||
| North America Personal P&C Insurance [Member] | Short-duration Insurance Contracts, Accident Year 2017 [Member] | Excluding Catastrophic Events [Member] | Homeowners and Valuables Lines [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 136 | ||||||||
| North America Personal P&C Insurance [Member] | Short-duration Insurance Contracts, Accident Year 2018 [Member] | Homeowners and Valuables [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 82 | ||||||||
| North America Agricultural Insurance | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (80) | $ (110) | $ (119) | ||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.20% | 0.20% | 0.20% | |||||
| North America Agricultural Insurance | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ 0 | $ 0 | $ 0 | ||||||
| North America Agricultural Insurance | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (80) | (110) | (119) | ||||||
| Prior Period Development, net Adjustments | 23 | ||||||||
| Overseas General Insurance | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (92) | $ (212) | $ (252) | ||||||
| Prior Period Development, net Adjustments | $ 1 | ||||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.20% | 0.40% | 0.50% | |||||
| Overseas General Insurance | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (68) | $ (67) | $ (71) | ||||||
| Prior Period Development, net Adjustments | 0 | ||||||||
| Overseas General Insurance | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (24) | (145) | (181) | ||||||
| Prior Period Development, net Adjustments | 1 | ||||||||
| Overseas General Insurance | Other [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (32) | ||||||||
| Overseas General Insurance | Casualty Lines [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (101) | ||||||||
| Overseas General Insurance | Financial [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 52 | 38 | |||||||
| Overseas General Insurance | Casualty [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (70) | ||||||||
| Overseas General Insurance | Aviation [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (10) | ||||||||
| Overseas General Insurance | Political [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (12) | ||||||||
| Overseas General Insurance | Accident years 2015 through 2017 [Member] | Financial [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 131 | ||||||||
| Overseas General Insurance | Accident years 2015 through 2017 [Member] | Casualty [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 38 | ||||||||
| Overseas General Insurance | Accident years 2015 through 2017 [Member] | Accident and Health [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (33) | ||||||||
| Overseas General Insurance | Accident years 2013 - 2016 [Member] | Property and Inland Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (99) | ||||||||
| Overseas General Insurance | Accident years 2014 and prior [Member] | Financial [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (93) | ||||||||
| Overseas General Insurance | Accident years 2014 and prior [Member] | Casualty [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (107) | ||||||||
| Overseas General Insurance | Accident years 2017 - 2018 [Member] | Credit-related [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 27 | ||||||||
| Overseas General Insurance | Accident years 2017 - 2018 [Member] | Accident and Health [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (45) | ||||||||
| Overseas General Insurance | Short-duration Insurance Contracts, Accident Year 2018 [Member] | Construction [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 23 | ||||||||
| Overseas General Insurance | Accident years 2016 and prior [Member] | Marine [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (36) | ||||||||
| Overseas General Insurance | Accident Year 2015 and prior [Member] | Casualty Lines [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (123) | ||||||||
| Overseas General Insurance | Accident Year 2015 and prior [Member] | Financial [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (75) | ||||||||
| Overseas General Insurance | Accident years 2016 - 2018 [Member] | Casualty Lines [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 22 | ||||||||
| Overseas General Insurance | Accident years 2016 - 2018 [Member] | Financial [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ 127 | ||||||||
| Overseas General Insurance - Casualty [Member] | Europe [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Loss by Geographic Percentage | 45.00% | ||||||||
| Overseas General Insurance - Non-Casualty [Member] | Latin America [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Loss by Geographic Percentage | 30.00% | ||||||||
| Overseas General Insurance - Non-Casualty [Member] | Europe [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Loss by Geographic Percentage | 30.00% | ||||||||
| Global Reinsurance Non-Casualty [Member] | Accident year 2010 and after [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Loss by Geographic Percentage | 73.00% | ||||||||
| Global Reinsurance Non-Casualty [Member] | Accident years 2010 to 2012 [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Loss by Geographic Percentage | 58.00% | ||||||||
| Global Reinsurance Non-Casualty [Member] | Accident years 2013 to 2019 [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Loss by Geographic Percentage | 80.00% | ||||||||
| Segment Global Reinsurance [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (29) | $ (50) | $ (59) | ||||||
| Prior Period Development, net Adjustments | $ (1) | ||||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.10% | 0.10% | 0.10% | |||||
| Segment Global Reinsurance [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (59) | $ (69) | $ (68) | ||||||
| Prior Period Development, net Adjustments | 0 | ||||||||
| Segment Global Reinsurance [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 30 | 19 | 9 | ||||||
| Prior Period Development, net Adjustments | (1) | ||||||||
| Segment Global Reinsurance [Member] | Accident Year 2013 and prior [Member] | Other [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (59) | (69) | |||||||
| Segment Global Reinsurance [Member] | Accident years 2017 - 2018 [Member] | Catastrophe [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 44 | ||||||||
| Segment Global Reinsurance [Member] | Short-duration Insurance Contracts, Accident Year 2017 [Member] | Catastrophe [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 18 | ||||||||
| Corporate Segment [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ 153 | $ 45 | $ 278 | ||||||
| Prior Period Development Percentage Opening Net Unpaid Reserves | [1] | 0.30% | 0.10% | 0.60% | |||||
| Corporate Segment [Member] | Discontinued Operations [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ 37 | ||||||||
| Corporate Segment [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 153 | $ 45 | $ 278 | ||||||
| Prior Period Development, net Adjustments | 0 | ||||||||
| Corporate Segment [Member] | Long Tail [Member] | Discontinued Operations [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 35 | ||||||||
| Corporate Segment [Member] | Long Tail [Member] | Reinsurance, Structured Settlements [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | (205) | ||||||||
| Corporate Segment [Member] | Short Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | 0 | 0 | $ 0 | ||||||
| Corporate Segment [Member] | Asbestos & Environmental [Member] | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ 116 | 216 | |||||||
| Environmental Issue [Member] | Overseas General Insurance | Long Tail [Member] | |||||||||
| Liability for Claims and Claims Adjustment Expense [Line Items] | |||||||||
| Net Prior Period Development | $ (10) | ||||||||
| |||||||||
Taxation (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Income Tax Examination [Line Items] | ||||
| Unrecognized Tax Benefits | $ 13 | $ 47 | $ 14 | $ 13 |
| Income Tax Credits and Adjustments | 19 | 0 | ||
| Income tax (benefit) credit related to 2017 Tax Act | 0 | (25) | $ (450) | |
| Valuation allowance | 114 | 79 | ||
| Unrecognized tax benefits that would affect the effective tax rate | 28 | 14 | ||
| Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 5 | |||
| Liabilities recorded for tax-related interest and penalties | 8 | 3 | ||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (475) | |||
| Impact on deferred tax liability [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | (743) | |||
| Impact on Deferred Tax Asset [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 250 | |||
| Other impact [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 18 | |||
| Tax Year 2017 [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Applicable income tax rates | 35.00% | |||
| Tax Year 2018 [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Applicable income tax rates | 21.00% | |||
| Domestic Tax Authority [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Net operating loss carry-forwards | $ 496 | |||
| Switzerland | ||||
| Income Tax Examination [Line Items] | ||||
| Applicable income tax rates | 7.83% | |||
| Foreign Tax Authority [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Foreign tax credit carry-forward | $ 247 | |||
| Bermuda | ||||
| Income Tax Examination [Line Items] | ||||
| Applicable income tax rates | 0.00% | |||
| UNITED STATES | ||||
| Income Tax Examination [Line Items] | ||||
| Applicable income tax rates | 21.00% | |||
| UNITED KINGDOM | ||||
| Income Tax Examination [Line Items] | ||||
| Applicable income tax rates | 19.00% | |||
| Scenario, Adjustment [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ (25) | |||
| Scenario, Plan [Member] | ||||
| Income Tax Examination [Line Items] | ||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ (450) | |||
Taxation (Provision For Income Taxes) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Income Tax Examination [Line Items] | |||
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ 440 | $ 950 | $ 527 |
| Income (Loss) from Continuing Operations before Income Taxes, Foreign | 4,809 | 3,707 | 3,195 |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 5,249 | 4,657 | 3,722 |
| Current tax expense | 908 | 652 | 359 |
| Deferred tax expense | (113) | 43 | (498) |
| Provision for income taxes | 795 | 695 | (139) |
| Domestic Tax Authority [Member] | |||
| Income Tax Examination [Line Items] | |||
| Current tax expense | 29 | 89 | 46 |
| Deferred tax expense | 11 | 3 | 2 |
| Foreign Tax Authority [Member] | |||
| Income Tax Examination [Line Items] | |||
| Current tax expense | 879 | 563 | 313 |
| Deferred tax expense | $ (124) | $ 40 | $ (500) |
Taxation (Reconciliation Of The Difference Between The Provision for Income Taxes and the Expected Tax Provision at Swiss Statutory Income Tax Rate) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Income Tax Disclosure [Abstract] | |||
| Expected tax provision at Swiss statutory rate | $ 411 | $ 365 | $ 291 |
| Taxes on earnings subject to rates other that Swiss statutory rate | 376 | 372 | 263 |
| Tax exempt interest and dividends received deduction, net of proration | (49) | (75) | (199) |
| Net witholding taxes | 40 | 33 | 30 |
| Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | (12) | (19) | (48) |
| Income tax benefit related to 2017 Tax Act | 0 | (25) | (450) |
| Income Tax Reconciliation, Corporate Owned Life Insurance | (13) | 2 | (37) |
| Other | 42 | 42 | 11 |
| Provision for income taxes | $ 795 | $ 695 | $ (139) |
Taxation (Components Of Net Deferred Tax Assets) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Deferred Tax Assets, Gross [Abstract] | ||
| Loss reserve discount | $ 826 | $ 584 |
| Unearned premium reserve | 519 | 471 |
| Foreign tax credits | 247 | 262 |
| Provision for uncollectible balances | 37 | 37 |
| Loss carry-forwards | 143 | 137 |
| Debt related amounts | 74 | 71 |
| Compensation related amounts | 261 | 263 |
| Cumulative translation adjustments | 33 | 43 |
| Unrealized depreciation on investments | 0 | 102 |
| Deferred Tax Asset, Lease Liability | 140 | 0 |
| Other, net | 0 | 95 |
| Total deferred tax assets | 2,280 | 2,065 |
| Deferred Tax Liabilities, Gross [Abstract] | ||
| Deferred policy acquisition costs | 588 | 621 |
| VOBA and other intangible assets | 1,468 | 1,440 |
| Un-remitted foreign earnings | 73 | 47 |
| Investments | 40 | 59 |
| Unrealized appreciation on investments | 470 | 0 |
| Depreciation | 157 | 123 |
| Leasing Arrangements | 129 | 0 |
| Deferred Tax Liabilities, Other | 45 | 0 |
| Deferred Tax Liabilities, Gross | 2,970 | 2,290 |
| Valuation allowance | 114 | 79 |
| Deferred Tax Liabilities, Net | $ (804) | $ (304) |
Taxation (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Income Tax Contingency [Line Items] | ||
| Unrecognized Tax Benefits, beginning of year | $ 14 | $ 13 |
| Additions based on tax provisions related to the current year | 12 | 1 |
| Additions based on tax positions related to prior years | 23 | 0 |
| Reductions for tax positions of prior years | 0 | 0 |
| Reductions for the lapse of the applicable statutes of limitations | (2) | 0 |
| Unrecognized Tax Benefits, end of year | $ 47 | $ 14 |
Taxation Taxation (Summary Of Income Tax Examinations) (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2019 | |
| Earliest Tax Year [Member] | Switzerland | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2015 |
| Earliest Tax Year [Member] | AUSTRALIA | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2014 |
| Earliest Tax Year [Member] | CANADA | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2012 |
| Earliest Tax Year [Member] | FRANCE | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2017 |
| Earliest Tax Year [Member] | GERMANY | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2015 |
| Earliest Tax Year [Member] | ITALY | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2010 |
| Earliest Tax Year [Member] | MEXICO | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2014 |
| Earliest Tax Year [Member] | SPAIN | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2012 |
| Earliest Tax Year [Member] | UNITED KINGDOM | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2015 |
| Earliest Tax Year [Member] | UNITED STATES | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2014 |
| Latest Tax Year [Member] | Switzerland | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | AUSTRALIA | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | CANADA | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | FRANCE | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | GERMANY | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | ITALY | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | MEXICO | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | SPAIN | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | UNITED KINGDOM | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
| Latest Tax Year [Member] | UNITED STATES | |
| Income Tax Examination [Line Items] | |
| Open Tax Year | 2019 |
Debt (Narrative) (Details) € in Millions, $ in Millions |
Dec. 31, 2019
USD ($)
|
Dec. 31, 2019
EUR (€)
|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2019
EUR (€)
|
Mar. 31, 2000
USD ($)
|
|---|---|---|---|---|---|
| Senior Notes [Member] | INA Senior Notes Due December 2024 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt stated interest rate | 0.30% | 0.30% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Debt Instrument, Face Amount | $ 779.0 | € 700 | |||
| Senior Notes [Member] | INA Senior Notes Due December 2029 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt stated interest rate | 0.875% | 0.875% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Debt Instrument, Face Amount | $ 779.0 | € 700 | |||
| Senior Notes [Member] | INA Senior Note Due June 2027 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt stated interest rate | 0.875% | 0.875% | |||
| Debt Instrument, Face Amount | $ 650.0 | € 575 | |||
| Senior Notes [Member] | INA Senior Note Due June 2031 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt stated interest rate | 1.40% | 1.40% | |||
| Debt Instrument, Face Amount | $ 650.0 | € 575 | |||
| Trust Preferred Securities | INA capital securities due 2030 | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt stated interest rate | 9.70% | 9.70% | 9.70% | ||
| ACE Capital Trust II common securities purchased | $ 9.2 | ||||
| Debt Instrument, Face Amount | $ 309.0 | $ 300.0 | |||
| Senior Notes [Member] | INA Senior Notes Due June 2019 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt stated interest rate | 5.90% | 5.90% | 5.90% | 5.90% | |
| Debt Instrument, Face Amount | $ 500.0 | $ 500.0 |
Debt (Schedule of Debt Outstanding) (Details) € in Millions, $ in Millions |
Dec. 31, 2019
USD ($)
|
Dec. 31, 2019
EUR (€)
|
Jun. 30, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Mar. 31, 2000
USD ($)
|
|---|---|---|---|---|---|
| Debt Instrument [Line Items] | |||||
| Repurchase agreements | $ 1,416 | $ 1,418 | |||
| Short-term debt | 1,299 | 509 | |||
| Long-term debt | 13,559 | 12,087 | |||
| Trust preferred securities | 308 | 308 | |||
| Senior Notes | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | 13,559 | 12,087 | |||
| Senior Notes | INA Senior Notes Due November 2020 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | 0 | 1,297 | |||
| Debt Instrument, Face Amount | $ 1,300 | ||||
| Long-term debt stated interest rate | 2.30% | 2.30% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | INA Senior Notes Due November 2022 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 997 | 996 | |||
| Debt Instrument, Face Amount | $ 1,000 | ||||
| Long-term debt stated interest rate | 2.875% | 2.875% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Senior Notes | INA Senior Notes Due March 2023 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 473 | 473 | |||
| Debt Instrument, Face Amount | $ 475 | ||||
| Long-term debt stated interest rate | 2.70% | 2.70% | |||
| Make Whole Premium Additional Percent | 0.10% | 0.10% | |||
| Senior Notes | INA Senior Notes Due May 2024 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 697 | 696 | |||
| Debt Instrument, Face Amount | $ 700 | ||||
| Long-term debt stated interest rate | 3.35% | 3.35% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | INA Senior Notes Due December 2024 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 776 | 0 | |||
| Debt Instrument, Face Amount | $ 779 | € 700 | |||
| Long-term debt stated interest rate | 0.30% | 0.30% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | INA Senior Notes Due March 2025 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 796 | 796 | |||
| Debt Instrument, Face Amount | $ 800 | ||||
| Long-term debt stated interest rate | 3.15% | 3.15% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | INA Senior Notes Due May 2026 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 1,492 | 1,491 | |||
| Debt Instrument, Face Amount | $ 1,500 | ||||
| Long-term debt stated interest rate | 3.35% | 3.35% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Senior Notes | INA Senior Notes Due June 2027 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 635 | 0 | |||
| Debt Instrument, Face Amount | € | € 575 | ||||
| Long-term debt stated interest rate | 0.875% | 0.875% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Senior Notes | INA Senior Notes Due March 2028 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 993 | 1,008 | |||
| Debt Instrument, Face Amount | € | € 900 | ||||
| Long-term debt stated interest rate | 1.55% | 1.55% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | INA Senior Notes Due August 2029 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 100 | 100 | |||
| Debt Instrument, Face Amount | $ 100 | ||||
| Long-term debt stated interest rate | 8.875% | 8.875% | |||
| Senior Notes | INA Senior Notes Due December 2029 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 775 | 0 | |||
| Debt Instrument, Face Amount | $ 779 | € 700 | |||
| Long-term debt stated interest rate | 0.875% | 0.875% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Senior Notes | INA Senior Notes Due June 2031 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 633 | 0 | |||
| Debt Instrument, Face Amount | € | € 575 | ||||
| Long-term debt stated interest rate | 1.40% | 1.40% | |||
| Make Whole Premium Additional Percent | 0.25% | 0.25% | |||
| Senior Notes | INA Senior Notes Due November 2031 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 246 | 250 | |||
| Debt Instrument, Face Amount | $ 200 | ||||
| Long-term debt stated interest rate | 6.80% | 6.80% | |||
| Make Whole Premium Additional Percent | 0.25% | 0.25% | |||
| Senior Notes | INA Senior Notes Due May 2036 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 297 | 297 | |||
| Debt Instrument, Face Amount | $ 300 | ||||
| Long-term debt stated interest rate | 6.70% | 6.70% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Senior Notes | INA Senior Notes Due May 2037 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 953 | 962 | |||
| Debt Instrument, Face Amount | $ 800 | ||||
| Long-term debt stated interest rate | 6.00% | 6.00% | |||
| Make Whole Premium Additional Percent | 0.20% | 0.20% | |||
| Senior Notes | INA Senior Notes Due March 2038 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 992 | 1,008 | |||
| Debt Instrument, Face Amount | € | € 900 | ||||
| Long-term debt stated interest rate | 2.50% | 2.50% | |||
| Make Whole Premium Additional Percent | 0.25% | 0.25% | |||
| Senior Notes | INA Senior Notes Due May 2038 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 751 | 759 | |||
| Debt Instrument, Face Amount | $ 600 | ||||
| Long-term debt stated interest rate | 6.50% | 6.50% | |||
| Make Whole Premium Additional Percent | 0.30% | 0.30% | |||
| Senior Notes | INA Senior Notes Due March 2043 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 470 | 470 | |||
| Debt Instrument, Face Amount | $ 475 | ||||
| Long-term debt stated interest rate | 4.15% | 4.15% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | INA Senior Notes Due November 2045 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 1,483 | 1,483 | |||
| Debt Instrument, Face Amount | $ 1,500 | ||||
| Long-term debt stated interest rate | 4.35% | 4.35% | |||
| Make Whole Premium Additional Percent | 0.25% | 0.25% | |||
| Senior Notes | Other Long Term Debt due September 2020 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Long-term debt | $ 0 | 1 | |||
| Long-term debt stated interest rate | 2.75% | 2.75% | |||
| Trust Preferred Securities | INA capital securities due 2030 | |||||
| Debt Instrument [Line Items] | |||||
| Debt Instrument, Face Amount | $ 309 | $ 300 | |||
| Trust preferred securities | $ 308 | 308 | |||
| Long-term debt stated interest rate | 9.70% | 9.70% | 9.70% | ||
| Repurchase agreements | |||||
| Debt Instrument [Line Items] | |||||
| Short-term debt | $ 1,416 | $ 1,418 | |||
| Weighted average interest rate on short-term debt | 2.20% | 2.20% | 2.50% | ||
| Senior Notes | INA Senior Note Due June 2019 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Short-term debt | $ 0 | $ 500 | |||
| Make Whole Premium Additional Percent | 0.40% | 0.40% | |||
| Senior Notes | INA Senior Notes Due June 2019 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Debt Instrument, Face Amount | $ 500 | $ 500 | |||
| Long-term debt stated interest rate | 5.90% | 5.90% | 5.90% | ||
| Senior Notes | INA Senior Notes Due November 2020 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Short-term debt | $ 1,298 | 0 | |||
| Debt Instrument, Face Amount | $ 1,300 | ||||
| Long-term debt stated interest rate | 2.30% | 2.30% | |||
| Make Whole Premium Additional Percent | 0.15% | 0.15% | |||
| Senior Notes | Other Short Term Debt due September 2020 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Short-term debt | $ 1 | ||||
| Long-term debt stated interest rate | 2.75% | 2.75% | |||
| Senior Notes | Other Short Term Debt due December 2019 [Member] | |||||
| Debt Instrument [Line Items] | |||||
| Short-term debt | $ 9 | ||||
| Long-term debt stated interest rate | 7.10% |
Commitments, contingencies, and guarantees (Narrative) (Detail) - USD ($) $ in Millions |
1 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
May 31, 2019 |
Dec. 31, 2021 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Jan. 31, 2020 |
Oct. 25, 2017 |
|
| Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||||||
| Concentration Risk, Percentage | 10.00% | |||||||
| Derivative Liability, Fair Value, Amount Subject to a Master Netting Agreement | $ 75 | $ 75 | $ 95 | |||||
| Securities Sold under Agreements to Repurchase | $ 1,416 | $ 1,416 | $ 1,418 | |||||
| Concentration Risk Percentage Marsh | 12.00% | 12.00% | 10.00% | |||||
| Purchase Commitment, Remaining Minimum Amount Committed | $ 731 | $ 731 | ||||||
| Carrying value of limited partnerships and partially-owned investment companies included in other investments | 4,700 | 4,700 | ||||||
| Funding commitments relating to limited partnerships and partially-owned investment companies | 3,300 | 3,300 | ||||||
| Line of Credit Facility, Current Borrowing Capacity | $ 1,000 | |||||||
| Line of Credit Facility, Maximum Borrowing Capacity | 2,000 | 2,000 | ||||||
| Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases | 1,000 | 1,000 | ||||||
| Operating Lease, Right-of-Use Asset | 551 | 551 | ||||||
| Operating Lease, Liability | $ 603 | $ 603 | ||||||
| Operating Lease, Weighted Average Remaining Lease Term | 5 years 4 months 24 days | 5 years 4 months 24 days | ||||||
| Operating Lease, Weighted Average Discount Rate, Percent | 2.70% | 2.70% | ||||||
| Total rental expense related to operating leases | $ 171 | $ 169 | $ 211 | |||||
| Deposit Assets | $ 93 | 93 | $ 97 | |||||
| Letter of Credit [Member] | ||||||||
| Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||||||
| Line of Credit Facility, Amount Outstanding | $ 567 | $ 567 | ||||||
| Huatai Group [Member] | ||||||||
| Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||||||
| Equity method investment, additional ownership percentage obtained | 4.70% | |||||||
| Ownership Percentage | 30.90% | 30.90% | 20.00% | |||||
| CHINA | Huatai Group [Member] | ||||||||
| Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||||||
| Equity method investment, additional ownership percentage obtained | 6.20% | |||||||
| Ownership Percentage | 31.00% | 31.00% | 20.00% | |||||
| CHINA | Subsequent Event [Member] | Huatai Group [Member] | ||||||||
| Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||||||
| Equity method investment, additional 22.4 ownership percentage obtained | 22.40% | |||||||
| Deposit Assets | $ 1,550 | |||||||
Commitments, contingencies, and guarantees (Balance Sheet Locations, Fair Values In Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments) (Detail) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Derivatives, Fair Value [Line Items] | ||||||||||
| Future policy benefits | $ 5,814 | $ 5,506 | ||||||||
| Derivative, Notional Amount | 4,199 | 8,543 | ||||||||
| Foreign currency forward contracts [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 2,579 | 2,185 | ||||||||
| Cross Currency Swap [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 0 | 45 | ||||||||
| Interest Rate Swap [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 0 | 5,250 | ||||||||
| Futures contracts on notes and bonds [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 1,615 | 1,046 | ||||||||
| Convertible Securities [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 5 | 11 | ||||||||
| To be announced [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 0 | 6 | ||||||||
| Futures contracts on equities | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 613 | 507 | ||||||||
| Other | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 63 | 74 | ||||||||
| Other Derivative Instruments [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative, Notional Amount | 676 | 581 | ||||||||
| Guaranteed Minimum Income Benefit | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Future policy benefits | 441 | 409 | ||||||||
| Derivative, Notional Amount | 1,510 | 1,750 | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | (93) | (153) | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | Foreign currency forward contracts [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | (78) | (19) | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | Cross Currency Swap [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | 0 | 0 | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | Interest Rate Swap [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | 0 | (115) | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | Futures contracts on notes and bonds [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | (15) | (19) | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | Convertible Securities [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | [1] | 0 | 0 | |||||||
| Accounts Payable and Accrued Liabilities [Member] | Futures contracts on equities | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | [2] | (13) | 0 | |||||||
| Accounts Payable and Accrued Liabilities [Member] | Other | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | 0 | 0 | ||||||||
| Accounts Payable and Accrued Liabilities [Member] | Other Derivative Instruments [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | (13) | 0 | ||||||||
| Other Assets [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 28 | 43 | ||||||||
| Other Assets [Member] | Foreign currency forward contracts [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 11 | 15 | ||||||||
| Other Assets [Member] | Cross Currency Swap [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 0 | 0 | ||||||||
| Other Assets [Member] | Interest Rate Swap [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 0 | 0 | ||||||||
| Other Assets [Member] | Futures contracts on notes and bonds [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 13 | 13 | ||||||||
| Other Assets [Member] | Futures contracts on equities | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | [2] | 0 | 23 | |||||||
| Other Assets [Member] | Other | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 2 | 2 | ||||||||
| Other Assets [Member] | Other Derivative Instruments [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 2 | 25 | ||||||||
| Other Assets [Member] | Guaranteed Minimum Income Benefit | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | [3] | 0 | 0 | |||||||
| Accounts Payable Future Policy Benefits [Member] | Guaranteed Minimum Income Benefit | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Liability | [3] | (897) | (861) | |||||||
| Available-for-sale Securities [Member] | Convertible Securities [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | [1] | 4 | 9 | |||||||
| Available-for-sale Securities [Member] | To be announced [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Derivative Asset | 0 | 6 | ||||||||
| Derivative Liability | 0 | 0 | ||||||||
| Guaranteed Minimum Income Benefit | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||||||||
| Derivatives, Fair Value [Line Items] | ||||||||||
| Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross | [4] | $ 456 | $ 452 | |||||||
| ||||||||||
Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | $ 994 | $ 1,926 |
| Collateral held under securities lending agreements | 994 | 1,926 |
| Maturity Overnight [Member] | Cash | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | 346 | 756 |
| Maturity Overnight [Member] | U.S. Treasury and agency | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | 6 | 64 |
| Maturity Overnight [Member] | Foreign [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | 595 | 795 |
| Maturity Overnight [Member] | Corporate securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | 5 | 15 |
| Maturity Overnight [Member] | Mortgage-backed securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | 18 | 45 |
| Maturity Overnight [Member] | Equity securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities lending collateral | $ 24 | $ 251 |
Commitments, contingencies, and guarantees Commitments, contingencies, and guarantees (Collateral pledged under repurchase agreements) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | $ 1,464 | $ 1,468 |
| Securities Sold under Agreements to Repurchase | 1,416 | 1,418 |
| Cash | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 2 | 0 |
| US Treasury and Government [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 107 | 259 |
| Mortgage-backed securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 1,355 | 1,209 |
| Repurchase Agreements [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Secured Borrowings, Gross, Difference, Amount | 48 | 50 |
| Maturity Less than 30 Days [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 508 | |
| Maturity Less than 30 Days [Member] | Cash | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 2 | |
| Maturity Less than 30 Days [Member] | US Treasury and Government [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 107 | |
| Maturity Less than 30 Days [Member] | Mortgage-backed securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 399 | |
| Maturity 30 to 90 Days [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 476 | 496 |
| Maturity 30 to 90 Days [Member] | Cash | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 0 | 0 |
| Maturity 30 to 90 Days [Member] | US Treasury and Government [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 0 | 0 |
| Maturity 30 to 90 Days [Member] | Mortgage-backed securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 476 | 496 |
| Maturity Greater than 90 Days [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 480 | 972 |
| Maturity Greater than 90 Days [Member] | Cash | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 0 | 0 |
| Maturity Greater than 90 Days [Member] | US Treasury and Government [Member] | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | 0 | 259 |
| Maturity Greater than 90 Days [Member] | Mortgage-backed securities | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Collateral pledged under repurchase agreements | $ 480 | $ 713 |
Commitments, contingencies, and guarantees (Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations) (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | $ (585) | $ (330) | $ 87 | ||||||
| Foreign currency forward contracts [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | (79) | 3 | 9 | ||||||
| Interest Rate Swap [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | (270) | (115) | 0 | ||||||
| All Other Futures Contracts And Options [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | (88) | 39 | (21) | ||||||
| Convertible Securities [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | [1] | 2 | (2) | 1 | |||||
| Investment And Embedded Derivative Instruments [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | (435) | (75) | (11) | ||||||
| GLB | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | [2] | (4) | (248) | 364 | |||||
| Futures contracts on equities | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | [3] | (138) | (4) | (261) | |||||
| Other Derivatives | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | (8) | (3) | (5) | ||||||
| Guaranteed Living Benefit And Other Derivative Instruments [Member] | |||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||||||
| Derivative, Gain (Loss) on Derivative, Net | $ (150) | $ (255) | $ 98 | ||||||
| |||||||||
Commitments, contingencies, and guarantees (Future Minimum Lease Payments) (Details) $ in Millions |
Dec. 31, 2019
USD ($)
|
|---|---|
| Commitments and Contingencies Disclosure [Abstract] | |
| 2020 | $ 158 |
| 2021 | 136 |
| 2022 | 107 |
| 2023 | 88 |
| 2024 | 66 |
| Thereafter | 105 |
| Total undiscounted lease payments | 660 |
| Present value adjustment | 57 |
| Operating Lease, Liability | $ 603 |
Shareholders' equity (Detail) $ / shares in Units, $ in Millions |
12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2019
SFr / shares
shares
|
Apr. 30, 2019
$ / shares
|
Apr. 30, 2018
$ / shares
|
Apr. 30, 2017
$ / shares
|
Nov. 21, 2019
USD ($)
|
May 31, 2019
$ / shares
|
Dec. 31, 2018
SFr / shares
shares
|
Dec. 01, 2018
USD ($)
|
May 31, 2018
$ / shares
|
Dec. 31, 2017
shares
|
Dec. 21, 2017
USD ($)
|
May 31, 2017
$ / shares
|
Dec. 31, 2016
shares
|
Nov. 30, 2016
USD ($)
|
|
| Stockholders' Equity Note [Abstract] | ||||||||||||||
| Dividend installments | $ / shares | $ 0.75 | $ 0.73 | $ 0.71 | |||||||||||
| The number of votes associated with one Common Share | one | |||||||||||||
| The maximum ownership percentage for voting allowed for any one shareholder | 10.00% | |||||||||||||
| Annual dividend per share approved by shareholders | $ / shares | $ 3.00 | $ 2.92 | $ 2.84 | |||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Common Shares, par value | SFr / shares | SFr 24.15 | SFr 24.15 | ||||||||||||
| Document Period End Date | Dec. 31, 2019 | |||||||||||||
| Common Shares, shares issued | shares | 479,783,864 | 479,783,864 | 479,783,864 | 479,783,864 | ||||||||||
| General Purpose | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Authorized share capital for future issuance | shares | 200,000,000 | |||||||||||||
| Issuance of Debt | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Authorized share capital for future issuance | shares | 33,000,000 | |||||||||||||
| Employee Benefit Plans | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Authorized share capital for future issuance | shares | 25,410,929 | |||||||||||||
| Nov 2016 Stock Repurchase Plan [Member] | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Stock repurchase program authorized amount | $ | $ 1,000 | |||||||||||||
| 2018 Stock Repurchase Plan [Member] [Domain] | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Stock repurchase program authorized amount | $ | $ 1,000 | |||||||||||||
| 2019 Stock Repurchase Plan [Member] | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Stock repurchase program authorized amount | $ | $ 1,500 | |||||||||||||
| Nov 2019 Stock Repurchase Plan [Member] | ||||||||||||||
| Authorized Share Capital [Line Items] | ||||||||||||||
| Stock repurchase program authorized amount | $ | $ 1,500 | |||||||||||||
Shareholders' equity Schedule of Dividends Declared (Details) |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Dec. 31, 2019
$ / shares
|
Dec. 31, 2019
SFr / shares
|
Dec. 31, 2018
$ / shares
|
Dec. 31, 2018
SFr / shares
|
Dec. 31, 2017
$ / shares
|
Dec. 31, 2017
SFr / shares
|
|
| Switzerland, Francs | ||||||
| Dividends Declared [Line Items] | ||||||
| Total dividend distributions per common share | SFr / shares | SFr 2.94 | SFr 2.84 | SFr 2.76 | |||
| United States of America, Dollars | ||||||
| Dividends Declared [Line Items] | ||||||
| Total dividend distributions per common share | $ / shares | $ 2.98 | $ 2.90 | $ 2.82 | |||
Shareholders' equity (Rollforward Of Changes In Common Stock Shares Issued And Outstanding) (Details) - shares |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Class of Stock [Line Items] | ||||
| Shares issued, Beginning of year | 479,783,864 | 479,783,864 | 479,783,864 | |
| Common Shares in treasury, end of year | (27,812,297) | (20,580,486) | (15,950,685) | (13,815,148) |
| Stock Issued During Period, Shares, New Issues | 3,210,427 | 3,089,234 | 3,731,075 | |
| Treasury Stock, Shares, Acquired | (10,442,238) | (7,719,035) | (5,866,612) | |
| Shares issued, End of year | 479,783,864 | 479,783,864 | 479,783,864 | |
| Shares issued and outstanding, end of year | 451,971,567 | 459,203,378 | 463,833,179 | |
Shareholders' equity Repurchase of Common Shares (Details) - USD ($) $ in Millions |
2 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Feb. 26, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Equity, Class of Treasury Stock [Line Items] | ||||
| Number of shares repurchased | 10,442,238 | 7,719,035 | 5,866,612 | |
| 2019 Stock Repurchase Plan [Member] | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Number of shares repurchased | 10,442,238 | |||
| Common Shares repurchased | $ 1,531 | |||
| 2018 Stock Repurchase Plan [Member] [Domain] | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Number of shares repurchased | 7,719,035 | |||
| Common Shares repurchased | $ 1,021 | |||
| Nov 2016 Stock Repurchase Plan [Member] | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Number of shares repurchased | 5,866,612 | |||
| Common Shares repurchased | $ 830 | |||
| Subsequent Event [Member] | Nov 2019 Stock Repurchase Plan [Member] | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Number of shares repurchased | 947,400 | |||
| Common Shares repurchased | $ 151 | |||
Share-based compensation (Narrative) (Detail) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Unrecognized compensation expense related to the unvested share-based awards | $ 205,000,000 | ||
| Weighted-average expected recognition period for the unrecognized compensation expense | 1 year | ||
| Weighted average remaining contractual term for stock options outstanding | 6 years 1 month 6 days | ||
| Weighted-average remaining contractual term for stock options exercisable | 4 years 9 months 18 days | ||
| Cash received from exercise of stock options | $ 163,000,000 | ||
| Restricted stock awards granted to non-management directors | 19,019 | 20,784 | 22,013 |
| Amounts paid during period by employees for the purchase of shares under the ESPP | $ 41,000,000 | $ 37,000,000 | $ 34,000,000 |
| Number of shares purchased during period by employees pursuant to the provisions of the ESPP | 321,800 | 347,116 | 271,185 |
| Discounted purchase price from market price for the ESPP | 85.00% | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate for the ESPP | 10.00% | ||
| Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Employee Stock Purchase Plan Authorized Amount | $ 25,000 | ||
| Performance Shares | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 3 years | ||
| Stock options | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 3 years | ||
| Stock option term in years | 10 years | ||
| Restricted stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 4 years | ||
| Restricted Stock Units (RSUs) | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 1 year | ||
| Number of deferred restricted stock units | 201,666 | ||
| Restricted Stock Units (RSUs) | Minimum [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 1 year | ||
| Restricted Stock Units (RSUs) | Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 3 years | ||
| ACE Limited 2004 Long-Term Incentive Plan [Member] | Restricted stock | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Vesting period of award | 4 years | ||
| Common shares | Employee Stock [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common shares authorized for issuance under plan | 6,500,000 | ||
| Common Stock, Capital Shares Reserved for Future Issuance | 1,785,978 | ||
| Common shares | Chubb Limited 2016 Long-Term Incentive Plan [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Common shares authorized for issuance under plan | 19,500,000 | ||
| Common Stock, Capital Shares Reserved for Future Issuance | 10,789,285 | ||
Share-based compensation (Pre-tax and After-tax Share-based Compensation Expense) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||||
| Share-based Payment Arrangement, Expense, Tax Benefit | $ 12 | $ 19 | $ 48 | ||
| Restricted stock | |||||
| Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||||
| Share-based compensation expense, pre-tax | 224 | 235 | 259 | ||
| Share-based compensation expense, after-tax | 180 | 178 | 151 | ||
| Stock options | |||||
| Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||||
| Share-based compensation expense, pre-tax | 42 | 50 | 41 | ||
| Share-based compensation expense, after-tax | [1] | $ 39 | $ 40 | $ 26 | |
| |||||
Share-based compensation (Weighted Average Assumptions for Option Grants) (Details) - Options |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Dividend yield | 2.20% | 2.00% | 2.00% |
| Expected volatility | 16.00% | 23.20% | 19.70% |
| Risk-free interest rate | 2.60% | 2.70% | 2.00% |
| Expected life | 5 years 8 months 12 days | 5 years 8 months 12 days | 5 years 9 months 18 days |
Share-based compensation (Rollforward Of Company's Stock Options) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Options, Weighted-Average Fair Value and Total Intrinsic Value [Abstract] | |||
| Weighted-average fair value of stock options granted (US$ per share) | $ 18.76 | $ 29.71 | $ 22.97 |
| Total intrinsic value of options exercised | $ 122 | $ 71 | $ 111 |
| Total intrinsic value of options outstanding | 423 | ||
| Total intrinsic value of options exercisable | $ 356 | ||
| Number of Options [Roll Forward] | |||
| Number of option outstanding, beginning of period | 11,007,722 | 10,433,316 | 10,180,720 |
| Number of options granted | 2,073,940 | 1,842,690 | 2,079,522 |
| Number of options exercised | (1,944,604) | (1,065,384) | (1,632,629) |
| Number of options forfeited | (251,801) | (202,900) | (194,297) |
| Number of option outstanding, end of period | 10,885,257 | 11,007,722 | 10,433,316 |
| Number of options exercisable | 7,213,685 | ||
| Weighted-Average Exercise Price [Roll Forward] | |||
| Weighted-average exercise price of options outstanding, beginning of period (US$ oer share) | $ 108.25 | $ 99.20 | $ 87.29 |
| Weighted-average exercise price of options granted (US$ per share) | 133.90 | 143.07 | 139.00 |
| Weighted-average exercise price of options exercised (US$ per share) | 84.13 | 73.57 | 73.53 |
| Weighted average exercise price of options forfeited (US$ per share) | 136.87 | 133.92 | 119.44 |
| Weighted-average exercise price of options outstanding, end of period (US$ oer share | 116.79 | $ 108.25 | $ 99.20 |
| Weighted average exercise price of options exercisable (US$ per share) | $ 106.26 | ||
Share-based compensation (Rollforward Of Company's Restricted Stock) (Details) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Restricted stock | |||
| Number of Restricted Stock [Roll Forward] | |||
| Number of unvested restricted stock, beginning of period | 3,294,849 | 4,709,442 | 5,805,126 |
| Number of restricted stock, granted | 1,492,900 | 1,326,979 | 1,707,094 |
| Number of restricted stock, vested and issued | (1,292,864) | (2,545,090) | (2,646,084) |
| Number of restricted stock, forfeited | (200,875) | (196,482) | (156,694) |
| Number of unvested restricted stock, end of period | 3,294,010 | 3,294,849 | 4,709,442 |
| Weighted-Average Grant-Day Fair Value [Roll Forward] | |||
| Weighted average grant-day fair value of unvested restricted stock outstanding, beginning of period (US$ per share) | $ 134.17 | $ 121.16 | $ 109.39 |
| Weighted average grant-day fair value of restricted stock, granted (US$ per share) | 134.38 | 142.76 | 139.18 |
| Weighted average grant-day fair value of restricted stock, vested and issued (US$ per share) | 129.18 | 114.83 | 107.73 |
| Weighted average grant-day fair value of restricted stock, forfeited (US$ per share) | 135.98 | 131.06 | 114.54 |
| Weighted average grant-day fair value of unvested restricted stock outstanding, end of period (US$ per share) | $ 136.20 | $ 134.17 | $ 121.16 |
| Performance Shares | |||
| Number of Restricted Stock [Roll Forward] | |||
| Number of unvested restricted stock, beginning of period | 911,230 | 975,497 | 931,169 |
| Number of restricted stock, granted | 212,059 | 180,065 | 267,282 |
| Number of restricted stock, vested and issued | (196,640) | (244,332) | (222,954) |
| Number of restricted stock, forfeited | (50,437) | 0 | 0 |
| Number of unvested restricted stock, end of period | 876,212 | 911,230 | 975,497 |
| Weighted-Average Grant-Day Fair Value [Roll Forward] | |||
| Weighted average grant-day fair value of unvested restricted stock outstanding, beginning of period (US$ per share) | $ 127.27 | $ 118.28 | $ 111.17 |
| Weighted average grant-day fair value of restricted stock, granted (US$ per share) | 133.90 | 143.07 | 138.90 |
| Weighted average grant-day fair value of restricted stock, vested and issued (US$ per share) | 115.62 | 103.03 | 113.30 |
| Weighted average grant-day fair value of restricted stock, forfeited (US$ per share) | 132.36 | 0 | 0 |
| Weighted average grant-day fair value of unvested restricted stock outstanding, end of period (US$ per share) | $ 131.16 | $ 127.27 | $ 118.28 |
Postretirement benefits (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Oct. 31, 2016 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Expenses recognized during period under the defined contributions plans | $ 171 | $ 171 | $ 166 | |
| Available for sale, Fair Value | $ 85,488 | 78,470 | ||
| Minimum | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Percentage | 55.00% | |||
| Maximum | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Percentage | 65.00% | |||
| Pension Plan [Member] | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Defined Benefit Plan, Accumulated Benefit Obligation | $ 4,600 | 4,000 | ||
| Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 23 | |||
| Other Postretirement Benefits Plan [Member] | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Defined Benefit Plan, Plan Assets, Amount | 152 | 143 | 157 | |
| Actuarial Loss (gain) | 3 | (20) | ||
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 25 | 23 | ||
| Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 1 | |||
| Defined Benefit Plan, Plan Amendment [Abstract] | ||||
| (Increase) decrease in other comprehensive income, curtailment | 0 | 3 | 39 | |
| Amortization of Prior Service Cost (Credit) | 84 | 85 | 89 | |
| UNITED STATES | Pension Plan [Member] | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Defined Benefit Plan, Plan Assets, Amount | 3,301 | 2,784 | 3,109 | |
| Actuarial Loss (gain) | 443 | (214) | ||
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 3,569 | 3,066 | ||
| Defined Benefit Plan, Plan Amendment [Abstract] | ||||
| (Increase) decrease in other comprehensive income, curtailment | 0 | 0 | 0 | |
| Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | |
| UNITED STATES | Postretirement Health Coverage [Member] | ||||
| Defined Benefit Plan, Plan Amendment [Abstract] | ||||
| Effect of Plan Amendment on Accumulated Benefit Obligation | $ 383 | |||
| Amortization of Prior Service Cost (Credit) | 79 | 80 | 89 | |
| Remaining Balance of Change in Benefit Obligation For Plan Amendment | 105 | |||
| UNITED STATES | Postretirement Health Coverage [Member] | Subject to Amortization [Member] | ||||
| Defined Benefit Plan, Plan Amendment [Abstract] | ||||
| Effect of Plan Amendment on Accumulated Benefit Obligation | $ 410 | |||
| UNITED STATES | Level 3 | Pension Plan [Member] | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Available for sale, Fair Value | 0 | |||
| Non - U.S. | Pension Plan [Member] | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Defined Benefit Plan, Plan Assets, Amount | 1,141 | 1,008 | 1,172 | |
| Actuarial Loss (gain) | 124 | (71) | ||
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 173 | 115 | ||
| Defined Benefit Plan, Plan Amendment [Abstract] | ||||
| (Increase) decrease in other comprehensive income, curtailment | (3) | 0 | (6) | |
| Amortization of Prior Service Cost (Credit) | $ 0 | $ 0 | $ 0 | |
Postretirement benefits Schedule of Net Funded Status (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Pension Plan [Member] | |||
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Service Cost | $ 60 | $ 69 | $ 80 |
| Pension Plan [Member] | Non - U.S. | |||
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Benefit Obligation, beginning of year | 942 | 1,077 | |
| Service Cost | 11 | 12 | 17 |
| Interest Cost | 27 | 27 | 27 |
| Actuarial Loss (gain) | 124 | (71) | |
| Defined Benefit Plan, Benefit Obligation, Benefits Paid | (39) | (26) | |
| Amendments | 0 | 4 | |
| Curtailments | (4) | 0 | |
| Settlements, Benefit obligations | (61) | (27) | |
| Foreign currency revaluation, benefit obligations | 42 | (54) | |
| Benefit Obligation, end of year | 1,042 | 942 | 1,077 |
| Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
| Plan assets at fair value, beginning of year | 1,008 | 1,172 | |
| Actual Return on Plan Assets | 169 | (63) | |
| Employer Contributions | 16 | 14 | |
| Benefits Paid | (39) | (26) | |
| Settlements | (61) | (27) | |
| Foreign currency revaluation, Plan Assets | 48 | (62) | |
| Plan assets at fair value, end of year | 1,141 | 1,008 | 1,172 |
| Defined Benefit Plan, Funded (Unfunded) Status of Plan | 99 | 66 | |
| Pension Plan [Member] | UNITED STATES | |||
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Benefit Obligation, beginning of year | 3,092 | 3,285 | |
| Service Cost | 49 | 57 | 63 |
| Interest Cost | 118 | 105 | 105 |
| Actuarial Loss (gain) | 443 | (214) | |
| Defined Benefit Plan, Benefit Obligation, Benefits Paid | (121) | (108) | |
| Amendments | 0 | 0 | |
| Curtailments | 0 | 0 | |
| Settlements, Benefit obligations | (12) | (33) | |
| Foreign currency revaluation, benefit obligations | 0 | 0 | |
| Benefit Obligation, end of year | 3,569 | 3,092 | 3,285 |
| Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
| Plan assets at fair value, beginning of year | 2,784 | 3,109 | |
| Actual Return on Plan Assets | 636 | (218) | |
| Employer Contributions | 14 | 34 | |
| Benefits Paid | (121) | (108) | |
| Settlements | (12) | (33) | |
| Foreign currency revaluation, Plan Assets | 0 | 0 | |
| Plan assets at fair value, end of year | 3,301 | 2,784 | 3,109 |
| Defined Benefit Plan, Funded (Unfunded) Status of Plan | (268) | (308) | |
| Other Postretirement Benefits Plan [Member] | |||
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Benefit Obligation, beginning of year | 113 | 137 | |
| Service Cost | 0 | 1 | 2 |
| Interest Cost | 4 | 3 | 4 |
| Actuarial Loss (gain) | 3 | (20) | |
| Defined Benefit Plan, Benefit Obligation, Benefits Paid | (17) | (15) | |
| Amendments | 0 | 0 | |
| Curtailments | 0 | 0 | |
| Settlements, Benefit obligations | 0 | 0 | |
| Foreign currency revaluation, benefit obligations | 0 | 7 | |
| Benefit Obligation, end of year | 103 | 113 | 137 |
| Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
| Plan assets at fair value, beginning of year | 143 | 157 | |
| Actual Return on Plan Assets | 9 | 1 | |
| Employer Contributions | 0 | 0 | |
| Benefits Paid | 0 | (15) | |
| Settlements | 0 | 0 | |
| Foreign currency revaluation, Plan Assets | 0 | 0 | |
| Plan assets at fair value, end of year | 152 | 143 | $ 157 |
| Defined Benefit Plan, Funded (Unfunded) Status of Plan | $ 49 | $ 30 | |
Postretirement benefits Schedule of amounts recognized in AOCI on a pretax basis (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Pension Plan [Member] | Non - U.S. | ||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
| Net actuarial loss (gain) | $ 110 | $ 112 |
| Prior Service Cost (benefit) | 10 | 9 |
| Total | 120 | 121 |
| Pension Plan [Member] | UNITED STATES | ||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
| Net actuarial loss (gain) | (21) | (15) |
| Prior Service Cost (benefit) | 0 | 0 |
| Total | (21) | (15) |
| Other Postretirement Benefits Plan [Member] | ||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
| Net actuarial loss (gain) | (3) | 0 |
| Prior Service Cost (benefit) | (114) | (200) |
| Total | $ (117) | $ (200) |
Postretirement benefits Schedule of Benefit Obligation in Excess of FV (Details) - Pension Plan [Member] - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| UNITED STATES | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | $ 3,569 | $ 3,092 |
| Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets | 3,301 | 2,784 |
| Net Funded Status With PBO in Excess Of Plan Assets | (268) | (308) |
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 3,569 | 3,066 |
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | 3,301 | 2,784 |
| Non - U.S. | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 236 | 222 |
| Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets | 175 | 170 |
| Net Funded Status With PBO in Excess Of Plan Assets | (61) | (52) |
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | 173 | 115 |
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | $ 140 | $ 86 |
Postretirement benefits Schedule of assumptions used to determine benefit obligation (Details) |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Other Postretirement Benefits Plan [Member] | ||
| Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||
| Benefit Obligation, Discount Rate | 2.70% | 3.78% |
| Non - U.S. | Pension Plan [Member] | ||
| Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||
| Benefit Obligation, Discount Rate | 2.39% | 3.10% |
| Benefit Obligation, Rate of Compensation Increase | 3.26% | 3.37% |
| UNITED STATES | Pension Plan [Member] | ||
| Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ||
| Benefit Obligation, Discount Rate | 3.20% | 4.20% |
| Benefit Obligation, Rate of Compensation Increase | 4.00% | |
| Interest crediting rate | 4.10% | 4.10% |
Postretirement benefits Schedule of net periodic benefit costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Total (increase) decrease in other comprehensive (Income) Loss | $ 76 | $ 321 | $ 16 |
| Pension Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 60 | 69 | 80 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (84) | (124) | (123) |
| Net Periodic Benefit Cost | (24) | (55) | (43) |
| Other Postretirement Benefits Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 0 | 1 | 2 |
| Interest Cost | 4 | 3 | 4 |
| Expected Return on Plan Assets | (4) | (5) | (5) |
| Amortization of (Gains) Losses | 0 | 0 | 0 |
| Amortization of Prior Service Cost (Credit) | (84) | (85) | (89) |
| Recognized Net (Gain) Loss Due to Curtailments | 0 | (2) | (37) |
| Recognized Net (Gain) Loss Due to Settlements | 0 | 0 | 0 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (84) | (89) | (127) |
| Net Periodic Benefit Cost | (84) | (88) | (125) |
| (Increase) decrease in Other Comprehensive Income (Loss), Net Actuarial (Gain) Loss) | (2) | (11) | (3) |
| Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax | 0 | 0 | (23) |
| Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax | 0 | (1) | 0 |
| Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 84 | 85 | 89 |
| (Increase) decrease in other comprehensive income, curtailment | 0 | 3 | 39 |
| (Increase) decrease in other comprehensive income, settlement | 0 | 0 | 0 |
| Total (increase) decrease in other comprehensive (Income) Loss | 82 | 76 | 102 |
| Losses and loss expenses [Member] | Pension Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 6 | 7 | 7 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (7) | (10) | (8) |
| Losses and loss expenses [Member] | Other Postretirement Benefits Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 0 | 0 | 0 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (8) | (9) | (13) |
| General and Administrative Expense [Member] | Pension Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 54 | 62 | 73 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (77) | (114) | (115) |
| General and Administrative Expense [Member] | Other Postretirement Benefits Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 0 | 1 | 2 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (76) | (80) | (114) |
| Non - U.S. | Pension Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 11 | 12 | 17 |
| Interest Cost | 27 | 27 | 27 |
| Expected Return on Plan Assets | (45) | (50) | (42) |
| Amortization of (Gains) Losses | 3 | 1 | 3 |
| Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 |
| Recognized Net (Gain) Loss Due to Curtailments | (1) | 0 | (27) |
| Recognized Net (Gain) Loss Due to Settlements | 1 | 3 | 0 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (15) | (19) | (39) |
| Net Periodic Benefit Cost | (4) | (7) | (22) |
| (Increase) decrease in Other Comprehensive Income (Loss), Net Actuarial (Gain) Loss) | 6 | 34 | (57) |
| Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax | 1 | 3 | 0 |
| Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax | (3) | (1) | (3) |
| Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | 0 |
| (Increase) decrease in other comprehensive income, curtailment | (3) | 0 | (6) |
| (Increase) decrease in other comprehensive income, settlement | (1) | (3) | 0 |
| Total (increase) decrease in other comprehensive (Income) Loss | 0 | 33 | (66) |
| UNITED STATES | Pension Plan [Member] | |||
| Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
| Service Cost | 49 | 57 | 63 |
| Interest Cost | 118 | 105 | 105 |
| Expected Return on Plan Assets | (189) | (212) | (189) |
| Amortization of (Gains) Losses | 0 | 0 | 0 |
| Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 |
| Recognized Net (Gain) Loss Due to Curtailments | 0 | 0 | 0 |
| Recognized Net (Gain) Loss Due to Settlements | 2 | 2 | 0 |
| Defined Benefit Plan, Non Service (Benefit) Cost | (69) | (105) | (84) |
| Net Periodic Benefit Cost | (20) | (48) | (21) |
| (Increase) decrease in Other Comprehensive Income (Loss), Net Actuarial (Gain) Loss) | (4) | 214 | (21) |
| Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax | 0 | 0 | 0 |
| Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | 0 |
| Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | 0 | 0 | 0 |
| (Increase) decrease in other comprehensive income, curtailment | 0 | 0 | 0 |
| (Increase) decrease in other comprehensive income, settlement | (2) | (2) | 1 |
| Total (increase) decrease in other comprehensive (Income) Loss | $ (6) | $ 212 | $ (20) |
Postretirement benefits Weighted Average Assumption used to determine the net periodic cost of benefit (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Pension Plan [Member] | UNITED STATES | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Rate of Compensation Increase | 4.00% | 4.00% | 4.00% |
| Expected Long-term Return on Assets | 7.00% | 7.00% | 7.00% |
| Interest crediting rate, net periodic benefit costs | 4.10% | 4.10% | 4.10% |
| Pension Plan [Member] | UNITED STATES | Interest Cost [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.94% | 3.27% | 3.53% |
| Pension Plan [Member] | UNITED STATES | Service Cost [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.23% | 3.62% | 4.20% |
| Pension Plan [Member] | Non - U.S. | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Rate of Compensation Increase | 3.37% | 3.46% | 3.57% |
| Expected Long-term Return on Assets | 4.40% | 4.32% | 4.23% |
| Pension Plan [Member] | Non - U.S. | Interest Cost [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 2.88% | 2.55% | 2.61% |
| Pension Plan [Member] | Non - U.S. | Service Cost [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.48% | 3.97% | 3.55% |
| Other Postretirement Benefits Plan [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Expected Long-term Return on Assets | 3.00% | 2.59% | 3.00% |
| Other Postretirement Benefits Plan [Member] | Interest Cost [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.69% | 2.62% | 2.44% |
| Other Postretirement Benefits Plan [Member] | Service Cost [Member] | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.04% | 2.84% | 2.84% |
Postretirement benefits Schedule of Health Care Cost Trend Rates (Details) - Pension Plan [Member] - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| UNITED STATES | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Amortization of Prior Service Cost (Credit) | $ 0 | $ 0 | $ 0 |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, curtailment | $ 0 | $ 0 | $ 0 |
| Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | |||
| Health Care Cost Trend Rate | 6.32% | 6.68% | 7.01% |
| Ultimate Health Care Cost Trend Rate | 4.50% | 4.50% | 4.50% |
| Year that Rate Reaches Ultimate Trend Rate | 2038 | 2038 | 2038 |
| Non - U.S. | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Amortization of Prior Service Cost (Credit) | $ 0 | $ 0 | $ 0 |
| Other changes in benefit plan assets and benefit obligations recognized in other comprehensive income, curtailment | $ 3 | $ 0 | $ 6 |
| Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | |||
| Health Care Cost Trend Rate | 5.24% | 6.29% | 6.61% |
| Ultimate Health Care Cost Trend Rate | 4.00% | 4.50% | 4.50% |
| Year that Rate Reaches Ultimate Trend Rate | 2040 | 2029 | 2029 |
Postretirement benefits Schedule of Allocation of Plan Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | $ 4,291 | $ 3,016 |
| Available for sale, Fair Value | 85,488 | 78,470 |
| Other Investments | 6,062 | 5,277 |
| Fair Value, Recurring [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 2,803 | 1,575 |
| Available for sale, Fair Value | 2,664 | 3,400 |
| Equity Securities | 713 | |
| Other Investments | 412 | 381 |
| Fair Value, Recurring [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 1,482 | 1,440 |
| Available for sale, Fair Value | 80,864 | 73,365 |
| Equity Securities | 0 | |
| Other Investments | 377 | 303 |
| Fair Value, Recurring [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 6 | 1 |
| Available for sale, Fair Value | 1,960 | 1,705 |
| Equity Securities | 57 | |
| Other Investments | 10 | 11 |
| Other Investments [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Other Investments | 95 | 95 |
| Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Other Investments | 4,921 | 4,244 |
| UNITED STATES | Pension Plan [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 55 | 84 |
| Equity Securities | 1,467 | 1,050 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 2,873 | 2,290 |
| UNITED STATES | Pension Plan [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 18 | 10 |
| Equity Securities | 1,467 | 1,050 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 1,951 | 1,493 |
| UNITED STATES | Pension Plan [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 37 | 74 |
| Equity Securities | 0 | 0 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 922 | 797 |
| UNITED STATES | Pension Plan [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 0 | 0 |
| Available for sale, Fair Value | 0 | |
| Equity Securities | 0 | 0 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 0 | 0 |
| UNITED STATES | Pension Plan [Member] | US Treasury and Government [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 600 | 515 |
| UNITED STATES | Pension Plan [Member] | US Treasury and Government [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 466 | 433 |
| UNITED STATES | Pension Plan [Member] | US Treasury and Government [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 134 | 82 |
| UNITED STATES | Pension Plan [Member] | US Treasury and Government [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | |
| UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 749 | 641 |
| UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | 0 |
| UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 749 | 641 |
| UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | |
| UNITED STATES | Other Investments [Member] | Pension Plan [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Other Investments | 428 | 494 |
| Non - U.S. | Pension Plan [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 2 | 7 |
| Equity Securities | 430 | 474 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 1,030 | 899 |
| Non - U.S. | Pension Plan [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 2 | 7 |
| Equity Securities | 112 | 103 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 114 | 110 |
| Non - U.S. | Pension Plan [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 0 | 0 |
| Equity Securities | 318 | 371 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 916 | 789 |
| Non - U.S. | Pension Plan [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Short-term investments | 0 | 0 |
| Equity Securities | 0 | 0 |
| Defined benefit plan, fair value of plan assets excluding measured using NAV | 0 | 0 |
| Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 598 | 418 |
| Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | 0 |
| Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 598 | 418 |
| Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | 0 |
| Non - U.S. | Other Investments [Member] | Pension Plan [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Other Investments | 107 | 109 |
| Non - U.S. | Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member] | Pension Plan [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Other Investments | 4 | |
| States, municipalities, and political subdivisions | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 7,515 | 10,786 |
| States, municipalities, and political subdivisions | Fair Value, Recurring [Member] | Level 1 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | 0 |
| States, municipalities, and political subdivisions | Fair Value, Recurring [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 7,515 | 10,786 |
| States, municipalities, and political subdivisions | Fair Value, Recurring [Member] | Level 3 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 0 | $ 0 |
| States, municipalities, and political subdivisions | UNITED STATES | Pension Plan [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | 2 | |
| States, municipalities, and political subdivisions | UNITED STATES | Pension Plan [Member] | Level 2 | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Available for sale, Fair Value | $ 2 |
Postretirement benefits (Schedule of Expected Future Benefit Payments) (Details) $ in Millions |
Dec. 31, 2019
USD ($)
|
|---|---|
| Other Postretirement Benefits Plan [Member] | |
| Defined Benefit Plan Disclosure [Line Items] | |
| 2020 | $ 19 |
| 2021 | 21 |
| 2022 | 22 |
| 2023 | 18 |
| 2024 | 13 |
| 2025-2029 | 11 |
| Non - U.S. | Pension Plan [Member] | |
| Defined Benefit Plan Disclosure [Line Items] | |
| 2020 | 27 |
| 2021 | 28 |
| 2022 | 27 |
| 2023 | 29 |
| 2024 | 29 |
| 2025-2029 | 171 |
| UNITED STATES | Pension Plan [Member] | |
| Defined Benefit Plan Disclosure [Line Items] | |
| 2020 | 151 |
| 2021 | 157 |
| 2022 | 164 |
| 2023 | 169 |
| 2024 | 174 |
| 2025-2029 | $ 931 |
Other (income) expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
| Equity in net income of partially-owned entities | [1] | $ 617 | $ 514 | $ 418 | |||
| Gains (losses) from fair value changes in separate account assets | [2] | 44 | (38) | 97 | |||
| One-time contribution to the Chubb Charitable Foundation | 0 | 0 | (50) | ||||
| Federal excise and capital taxes | (23) | (12) | (35) | ||||
| Other | (42) | (30) | (30) | ||||
| Total | 596 | 434 | 400 | ||||
| Huatai Group [Member] | |||||||
| Equity in net income of partially-owned entities | [1] | $ 74 | $ 43 | $ 3 | |||
| |||||||
Segment Information (Operations By Segment) (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | $ 32,275 | $ 30,579 | $ 29,244 | ||||||||||
| Net premiums earned | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | 31,290 | 30,064 | 29,034 | ||
| Losses and loss expenses | 4,865 | 5,052 | 4,715 | 4,098 | 4,610 | 4,868 | 4,487 | 4,102 | 18,730 | 18,067 | 18,454 | ||
| Policy benefits | 225 | 158 | 161 | 196 | 162 | 127 | 150 | 151 | 740 | 590 | 676 | ||
| Policy Acquisition Costs | 6,153 | 5,912 | 5,781 | ||||||||||
| Administrative expenses | 3,030 | 2,886 | 2,833 | ||||||||||
| Underwriting income (loss) | 2,637 | 2,609 | 1,290 | ||||||||||
| Net Investment Income | 858 | 873 | 859 | 836 | 848 | 823 | 828 | 806 | 3,426 | 3,305 | 3,125 | ||
| Other (Income) Expense | (596) | (434) | (400) | ||||||||||
| Amortization of Purchased Intangibles | 305 | 339 | 260 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 6,354 | 6,009 | 4,555 | ||||||||||
| Interest expense | 552 | 641 | 607 | ||||||||||
| Chubb integration expenses | 23 | 59 | 310 | ||||||||||
| Income tax expense (benefit) | 795 | 695 | (139) | ||||||||||
| Net income | 1,173 | 1,091 | 1,150 | 1,040 | 355 | 1,231 | 1,294 | 1,082 | 4,454 | 3,962 | 3,861 | ||
| Derivative, Gain (Loss) on Derivative, Net | 585 | 330 | (87) | ||||||||||
| Other (income) expense | (596) | (434) | (400) | ||||||||||
| (Gains) losses from fair value changes in separate account assets | [1] | 44 | (38) | 97 | |||||||||
| Net Realized Gains Losses | $ (55) | $ (155) | $ (223) | $ (97) | $ (687) | $ 19 | $ 18 | $ (2) | (530) | (652) | 84 | ||
| North America Commercial P&C Insurance | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 13,375 | 12,485 | 12,019 | ||||||||||
| Net premiums earned | 12,922 | 12,402 | 12,191 | ||||||||||
| Losses and loss expenses | 8,206 | 8,000 | 8,287 | ||||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||||
| Policy Acquisition Costs | 1,831 | 1,829 | 1,873 | ||||||||||
| Administrative expenses | 1,028 | 966 | 981 | ||||||||||
| Underwriting income (loss) | 1,857 | 1,607 | 1,050 | ||||||||||
| Net Investment Income | 2,082 | 2,033 | 1,961 | ||||||||||
| Other (Income) Expense | (3) | (25) | 1 | ||||||||||
| Amortization of Purchased Intangibles | 0 | 0 | 0 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 3,942 | 3,665 | 3,010 | ||||||||||
| Segment Insurance North American Personal P&C [Member] [Member] | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 4,787 | 4,674 | 4,533 | ||||||||||
| Net premiums earned | 4,694 | 4,593 | 4,399 | ||||||||||
| Losses and loss expenses | 3,043 | 3,229 | 3,265 | ||||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||||
| Policy Acquisition Costs | 948 | 939 | 899 | ||||||||||
| Administrative expenses | 286 | 269 | 264 | ||||||||||
| Underwriting income (loss) | 417 | 156 | (29) | ||||||||||
| Net Investment Income | 258 | 236 | 226 | ||||||||||
| Other (Income) Expense | 3 | 1 | 4 | ||||||||||
| Amortization of Purchased Intangibles | 12 | 13 | 16 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 660 | 378 | 177 | ||||||||||
| North America Agricultural Insurance | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 1,810 | 1,577 | 1,516 | ||||||||||
| Net premiums earned | 1,795 | 1,569 | 1,508 | ||||||||||
| Losses and loss expenses | 1,608 | 1,111 | 1,036 | ||||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||||
| Policy Acquisition Costs | 84 | 79 | 81 | ||||||||||
| Administrative expenses | 6 | (9) | (8) | ||||||||||
| Underwriting income (loss) | 97 | 388 | 399 | ||||||||||
| Net Investment Income | 30 | 28 | 25 | ||||||||||
| Other (Income) Expense | 1 | 2 | 2 | ||||||||||
| Amortization of Purchased Intangibles | 28 | 28 | 29 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 98 | 386 | 393 | ||||||||||
| Segment Income Loss Including Gains Losses On Crop Derivatives | 89 | ||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | 8 | ||||||||||||
| Overseas General Insurance | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 9,262 | 8,902 | 8,350 | ||||||||||
| Net premiums earned | 8,882 | 8,612 | 8,131 | ||||||||||
| Losses and loss expenses | 4,606 | 4,429 | 4,281 | ||||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||||
| Policy Acquisition Costs | 2,501 | 2,346 | 2,221 | ||||||||||
| Administrative expenses | 1,033 | 1,014 | 982 | ||||||||||
| Underwriting income (loss) | 742 | 823 | 647 | ||||||||||
| Net Investment Income | 588 | 619 | 610 | ||||||||||
| Other (Income) Expense | 12 | 0 | (4) | ||||||||||
| Amortization of Purchased Intangibles | 45 | 41 | 45 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 1,273 | 1,401 | 1,216 | ||||||||||
| Segment Global Reinsurance [Member] | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 649 | 671 | 685 | ||||||||||
| Net premiums earned | 654 | 670 | 704 | ||||||||||
| Losses and loss expenses | 352 | 479 | 561 | ||||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||||
| Policy Acquisition Costs | 169 | 162 | 177 | ||||||||||
| Administrative expenses | 35 | 41 | 44 | ||||||||||
| Underwriting income (loss) | 98 | (12) | (78) | ||||||||||
| Net Investment Income | 220 | 257 | 273 | ||||||||||
| Other (Income) Expense | (58) | (32) | (1) | ||||||||||
| Amortization of Purchased Intangibles | 0 | 0 | 0 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 376 | 277 | 196 | ||||||||||
| Life Insurance | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 2,392 | 2,270 | 2,141 | ||||||||||
| Net premiums earned | 2,343 | 2,218 | 2,101 | ||||||||||
| Losses and loss expenses | 757 | 766 | 739 | ||||||||||
| Policy benefits | 740 | 590 | 676 | ||||||||||
| Policy Acquisition Costs | 620 | 557 | 530 | ||||||||||
| Administrative expenses | 323 | 310 | 303 | ||||||||||
| Underwriting income (loss) | (97) | (5) | (147) | ||||||||||
| Net Investment Income | 373 | 341 | 313 | ||||||||||
| Other (Income) Expense | (92) | 26 | (84) | ||||||||||
| Amortization of Purchased Intangibles | 2 | 2 | 2 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | 366 | 308 | 248 | ||||||||||
| Management underwriting income loss Insurance | 320 | ||||||||||||
| (Gains) losses from fair value changes in separate account assets | (44) | ||||||||||||
| Corporate and Other | |||||||||||||
| Segment Reporting Information [Line Items] | |||||||||||||
| Net premiums written | 0 | 0 | 0 | ||||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||||
| Losses and loss expenses | 158 | 53 | 285 | ||||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||||
| Policy Acquisition Costs | 0 | 0 | 0 | ||||||||||
| Administrative expenses | 319 | 295 | 267 | ||||||||||
| Underwriting income (loss) | (477) | (348) | (552) | ||||||||||
| Net Investment Income | (125) | (209) | (283) | ||||||||||
| Other (Income) Expense | (459) | (406) | (318) | ||||||||||
| Amortization of Purchased Intangibles | 218 | 255 | 168 | ||||||||||
| Segment Underwriting Income Loss and Net Investment Income Loss | (361) | (406) | (685) | ||||||||||
| Interest expense | 552 | 641 | 607 | ||||||||||
| Chubb integration expenses | 23 | 59 | 310 | ||||||||||
| Income tax expense (benefit) | 795 | 695 | (139) | ||||||||||
| Net income | (2,261) | (2,453) | (1,379) | ||||||||||
| Net Realized Gains Losses | $ (530) | $ (652) | $ 84 | ||||||||||
| |||||||||||||
Segment Information (Net Premiums Earned For Segment By Product) (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | $ 31,290 | $ 30,064 | $ 29,034 |
| North America Commercial P&C Insurance | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 12,922 | 12,402 | 12,191 | ||||||||
| North America Commercial P&C Insurance | Property and other short-tail [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 1,987 | 1,861 | 1,899 | ||||||||
| North America Commercial P&C Insurance | Casualty and all other [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 10,136 | 9,773 | 9,554 | ||||||||
| North America Commercial P&C Insurance | Accident and Health [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 799 | 768 | 738 | ||||||||
| North American Personal P&C [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 4,694 | 4,593 | 4,399 | ||||||||
| North American Personal P&C [Member] | Automobiles [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 829 | 803 | 742 | ||||||||
| North American Personal P&C [Member] | Personal homeowner [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 3,183 | 3,127 | 3,014 | ||||||||
| North American Personal P&C [Member] | Insurance, Other [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 682 | 663 | 643 | ||||||||
| North America Agricultural Insurance | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 1,795 | 1,569 | 1,508 | ||||||||
| Overseas General Insurance | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 8,882 | 8,612 | 8,131 | ||||||||
| Overseas General Insurance | Property and other short-tail [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 2,244 | 2,134 | 2,076 | ||||||||
| Overseas General Insurance | Casualty and all other [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 2,494 | 2,429 | 2,266 | ||||||||
| Overseas General Insurance | Accident and Health [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 2,248 | 2,265 | 2,180 | ||||||||
| Overseas General Insurance | Personal lines [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 1,896 | 1,784 | 1,609 | ||||||||
| Segment Global Reinsurance [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 654 | 670 | 704 | ||||||||
| Segment Global Reinsurance [Member] | Property and other short-tail [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 131 | 123 | 132 | ||||||||
| Segment Global Reinsurance [Member] | Casualty and all other [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 381 | 377 | 374 | ||||||||
| Segment Global Reinsurance [Member] | Property catastrophe [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 142 | 170 | 198 | ||||||||
| Life Insurance | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 2,343 | 2,218 | 2,101 | ||||||||
| Life Insurance | Accident and Health [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | 1,242 | 1,196 | 1,121 | ||||||||
| Life Insurance | Life Insurance Product Line [Member] | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net premiums earned | $ 1,101 | $ 1,022 | $ 980 | ||||||||
Segment Information (Net Premiums Earned By Geographic Region) (Details) |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| North America [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Percentage of net premiums earned by geographic region | 70.00% | 70.00% | 70.00% | ||
| Europe [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Percentage of net premiums earned by geographic region | [1] | 11.00% | 11.00% | 11.00% | |
| Asia Pacific and Far East [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Percentage of net premiums earned by geographic region | 12.00% | 12.00% | 12.00% | ||
| Latin America [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Percentage of net premiums earned by geographic region | 7.00% | 7.00% | 7.00% | ||
| |||||
Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Earnings Per Share [Abstract] | |||||||||||
| Stock Issued During Period, Shares, New Issues | 3,210,427 | 3,089,234 | 3,731,075 | ||||||||
| Net income | $ 1,173 | $ 1,091 | $ 1,150 | $ 1,040 | $ 355 | $ 1,231 | $ 1,294 | $ 1,082 | $ 4,454 | $ 3,962 | $ 3,861 |
| Weighted-average shares outstanding | 455,910,463 | 463,629,203 | 467,145,716 | ||||||||
| Share-based compensation plans | 3,004,200 | 3,173,145 | 4,051,185 | ||||||||
| Adjusted weighted-average shares outstanding and assumed conversions | 458,914,663 | 466,802,348 | 471,196,901 | ||||||||
| Basic earnings per share | $ 2.59 | $ 2.40 | $ 2.52 | $ 2.27 | $ 0.77 | $ 2.66 | $ 2.78 | $ 2.32 | $ 9.77 | $ 8.55 | $ 8.26 |
| Diluted earnings per share | $ 2.57 | $ 2.38 | $ 2.50 | $ 2.25 | $ 0.76 | $ 2.64 | $ 2.76 | $ 2.30 | $ 9.71 | $ 8.49 | $ 8.19 |
| Potential anti-dilutive share conversions | 2,410,337 | 3,543,188 | 1,776,025 | ||||||||
Related party transaction (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Related Party Transaction [Line Items] | |||||||||||
| Ceded Premiums Written | $ 7,849 | $ 7,389 | $ 7,132 | ||||||||
| Losses and loss expenses | $ 4,865 | $ 5,052 | $ 4,715 | $ 4,098 | $ 4,610 | $ 4,868 | $ 4,487 | $ 4,102 | 18,730 | 18,067 | 18,454 |
| Reinsurance recoverable on losses and loss expenses | 15,181 | 15,993 | 15,181 | 15,993 | |||||||
| Insurance and reinsurance balances payable | 6,184 | 6,437 | 6,184 | 6,437 | |||||||
| Net premiums written | 32,275 | 30,579 | 29,244 | ||||||||
| Starr Technical Risk Agency and Affiliates [Member] | |||||||||||
| Related Party Transaction [Line Items] | |||||||||||
| Premiums Written, Gross | 394 | 411 | 464 | ||||||||
| Ceded Premiums Written | 207 | 188 | 175 | ||||||||
| Paid commissions | 77 | 84 | 101 | ||||||||
| Commissions received | 46 | 42 | 37 | ||||||||
| Losses and loss expenses | 185 | 188 | 438 | ||||||||
| Reinsurance recoverable on losses and loss expenses | 440 | 514 | 440 | 514 | |||||||
| Insurance and reinsurance balances payable | 56 | 75 | 56 | 75 | |||||||
| Minimum Amount of Program Business to be Written to Earn Profit Sharing | 20 | ||||||||||
| ABR Reinsurance Capital Holdings Ltd. [Member] | |||||||||||
| Related Party Transaction [Line Items] | |||||||||||
| Ceded Premiums Written | 321 | 329 | 342 | ||||||||
| Commissions received | 92 | 96 | $ 94 | ||||||||
| Reinsurance recoverable on losses and loss expenses | 674 | 557 | 674 | 557 | |||||||
| Insurance and reinsurance balances payable | $ 62 | $ 47 | $ 62 | $ 47 | |||||||
| Ownership Percentage | 12.20% | 12.20% | |||||||||
| Warrants & Rights Outstanding | 0.50% | 0.50% | |||||||||
Statutory Financial Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Statutory Accounting Practices [Line Items] | |||
| Dividends available to be paid | $ 6,500 | ||
| Approximate increase in statutory capital and surplus resulting from discount of certain A&E liabilities | 147 | $ 160 | |
| Minimum statutory capital and surplus required to satisfy regulatory requirements | 26,300 | 24,200 | |
| Statutory Accounting Practices, Permitted Practice, Amount | 54 | 178 | |
| PropertyAndCasualtySubsidiaries [Member] | |||
| Statutory Accounting Practices [Line Items] | |||
| Statutory capital and surplus | 43,684 | 40,780 | |
| Statutory net income | 5,931 | 7,521 | $ 8,178 |
| LifeSubsidiaries [Member] [Member] | |||
| Statutory Accounting Practices [Line Items] | |||
| Statutory capital and surplus | 1,900 | 1,279 | |
| Statutory net income | $ (227) | $ (102) | $ 49 |
Information provided in connection with outstanding debt of subsidiaries (Condensed Consolidating Balance Sheet) (Detail) - USD ($) $ in Millions |
1 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Investments | $ 109,234 | $ 100,968 | |||||||||||
| Cash | 1,537 | [1] | 1,247 | [2] | $ 728 | ||||||||
| Restricted Cash | 109 | 93 | 123 | ||||||||||
| Insurance and reinsurance balances receivable | 10,357 | 10,075 | |||||||||||
| Reinsurance recoverable on losses and loss expenses | 15,181 | 15,993 | |||||||||||
| Reinsurance Recoverable Future Policy Benefits | 197 | 202 | |||||||||||
| Value of business acquired | 306 | 295 | 326 | $ 355 | |||||||||
| Goodwill | 21,359 | 21,414 | |||||||||||
| Investments in subsidiaries | 0 | 0 | |||||||||||
| Due from subsidiaries and affiliates, net | 0 | 0 | |||||||||||
| Other assets | 18,663 | 17,484 | |||||||||||
| Total assets | 176,943 | 167,771 | |||||||||||
| Unpaid losses and loss expenses | 62,690 | 62,960 | 63,179 | 60,540 | |||||||||
| Unearned premiums | 16,771 | 15,532 | |||||||||||
| Future policy benefits | 5,814 | 5,506 | |||||||||||
| Due to subsidiaries and affiliates, net | 0 | 0 | |||||||||||
| Affiliated notional cash pooling program | [2] | 0 | |||||||||||
| Repurchase agreements | 1,416 | 1,418 | |||||||||||
| Short-term debt | 1,299 | 509 | |||||||||||
| Long-term debt | 13,559 | 12,087 | |||||||||||
| Trust preferred securities | 308 | 308 | |||||||||||
| Other liabilities | 19,755 | 19,139 | |||||||||||
| Total liabilities | 121,612 | 117,459 | |||||||||||
| Total shareholders' equity | 55,331 | 50,312 | |||||||||||
| Total liabilities and shareholders’ equity | 176,943 | 167,771 | |||||||||||
| Advances To From Affiliates Financing Activities | 0 | 0 | 0 | ||||||||||
| Payment Of Contributions To Subsidiary | 0 | 0 | |||||||||||
| Consolidating Adjustments | |||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Investments | 0 | 0 | |||||||||||
| Cash | [2] | (652) | |||||||||||
| Restricted Cash | 0 | 0 | |||||||||||
| Insurance and reinsurance balances receivable | (2,563) | (1,786) | |||||||||||
| Reinsurance recoverable on losses and loss expenses | (9,599) | (10,429) | |||||||||||
| Reinsurance Recoverable Future Policy Benefits | (95) | (104) | |||||||||||
| Value of business acquired | 0 | 0 | |||||||||||
| Goodwill | 0 | 0 | |||||||||||
| Investments in subsidiaries | (102,929) | (93,740) | |||||||||||
| Due from subsidiaries and affiliates, net | (4,776) | (7,672) | |||||||||||
| Other assets | (1,829) | (1,628) | |||||||||||
| Total assets | (121,791) | (116,011) | |||||||||||
| Unpaid losses and loss expenses | (9,226) | (9,897) | |||||||||||
| Unearned premiums | (1,207) | (1,079) | |||||||||||
| Future policy benefits | (95) | (104) | |||||||||||
| Due to subsidiaries and affiliates, net | (4,776) | (7,672) | |||||||||||
| Affiliated notional cash pooling program | [2] | (652) | |||||||||||
| Repurchase agreements | 0 | 0 | |||||||||||
| Short-term debt | 0 | 0 | |||||||||||
| Long-term debt | 0 | 0 | |||||||||||
| Trust preferred securities | 0 | 0 | |||||||||||
| Other liabilities | (3,558) | (2,867) | |||||||||||
| Total liabilities | (18,862) | (22,271) | |||||||||||
| Total shareholders' equity | (102,929) | (93,740) | |||||||||||
| Total liabilities and shareholders’ equity | (121,791) | (116,011) | |||||||||||
| Advances To From Affiliates Financing Activities | 0 | 0 | 0 | ||||||||||
| Payment Of Contributions To Subsidiary | 1,110 | 5,025 | |||||||||||
| Chubb limited (Parent Guarantor) | |||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Investments | 0 | 0 | |||||||||||
| Cash | 2 | [1] | 1 | [2] | 3 | $ 1 | |||||||
| Restricted Cash | 0 | 0 | |||||||||||
| Insurance and reinsurance balances receivable | 0 | 0 | |||||||||||
| Reinsurance recoverable on losses and loss expenses | 0 | 0 | |||||||||||
| Reinsurance Recoverable Future Policy Benefits | 0 | 0 | |||||||||||
| Value of business acquired | 0 | 0 | |||||||||||
| Goodwill | 0 | 0 | |||||||||||
| Investments in subsidiaries | 50,853 | 43,531 | |||||||||||
| Due from subsidiaries and affiliates, net | 4,776 | 7,074 | |||||||||||
| Other assets | 12 | 3 | |||||||||||
| Total assets | 55,643 | 50,609 | |||||||||||
| Unpaid losses and loss expenses | 0 | 0 | |||||||||||
| Unearned premiums | 0 | 0 | |||||||||||
| Future policy benefits | 0 | 0 | |||||||||||
| Due to subsidiaries and affiliates, net | 0 | 0 | |||||||||||
| Affiliated notional cash pooling program | [3] | 0 | 35 | [2] | |||||||||
| Repurchase agreements | 0 | 0 | |||||||||||
| Short-term debt | 0 | 0 | |||||||||||
| Long-term debt | 0 | 0 | |||||||||||
| Trust preferred securities | 0 | 0 | |||||||||||
| Other liabilities | 312 | 262 | |||||||||||
| Total liabilities | 312 | 297 | |||||||||||
| Total shareholders' equity | 55,331 | 50,312 | |||||||||||
| Total liabilities and shareholders’ equity | 55,643 | 50,609 | |||||||||||
| Advances To From Affiliates Financing Activities | (2,301) | (2,519) | (892) | ||||||||||
| Payment Of Contributions To Subsidiary | (1,000) | (1,475) | |||||||||||
| Chubb INA Holdings Inc. (Subsidiary Issuer) | |||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Investments | 1,013 | 214 | |||||||||||
| Cash | 442 | [1] | 2 | [2] | |||||||||
| Restricted Cash | 0 | 0 | |||||||||||
| Insurance and reinsurance balances receivable | 0 | 0 | |||||||||||
| Reinsurance recoverable on losses and loss expenses | 0 | 0 | |||||||||||
| Reinsurance Recoverable Future Policy Benefits | 0 | 0 | |||||||||||
| Value of business acquired | 0 | 0 | |||||||||||
| Goodwill | 0 | 0 | |||||||||||
| Investments in subsidiaries | 52,076 | 50,209 | |||||||||||
| Due from subsidiaries and affiliates, net | 0 | 0 | |||||||||||
| Other assets | 408 | 1,007 | |||||||||||
| Total assets | 53,939 | 51,432 | |||||||||||
| Unpaid losses and loss expenses | 0 | 0 | |||||||||||
| Unearned premiums | 0 | 0 | |||||||||||
| Future policy benefits | 0 | 0 | |||||||||||
| Due to subsidiaries and affiliates, net | 4,446 | 7,672 | |||||||||||
| Affiliated notional cash pooling program | [2] | 617 | |||||||||||
| Repurchase agreements | 0 | 0 | |||||||||||
| Short-term debt | 1,298 | 500 | |||||||||||
| Long-term debt | 13,559 | 12,086 | |||||||||||
| Trust preferred securities | 308 | 308 | |||||||||||
| Other liabilities | 1,649 | 2,545 | |||||||||||
| Total liabilities | 21,260 | 23,728 | |||||||||||
| Total shareholders' equity | 32,679 | 27,704 | |||||||||||
| Total liabilities and shareholders’ equity | 53,939 | 51,432 | |||||||||||
| Advances To From Affiliates Financing Activities | 3,223 | 1,744 | 927 | ||||||||||
| Payment Of Contributions To Subsidiary | (110) | (3,550) | |||||||||||
| Other Chubb Limited Subsidiaries and Eliminations | |||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Investments | 108,221 | 100,754 | |||||||||||
| Cash | 1,093 | [1] | 1,896 | [2] | |||||||||
| Restricted Cash | 109 | 93 | |||||||||||
| Insurance and reinsurance balances receivable | 12,920 | 11,861 | |||||||||||
| Reinsurance recoverable on losses and loss expenses | 24,780 | 26,422 | |||||||||||
| Reinsurance Recoverable Future Policy Benefits | 292 | 306 | |||||||||||
| Value of business acquired | 306 | 295 | |||||||||||
| Goodwill | 21,359 | 21,414 | |||||||||||
| Investments in subsidiaries | 0 | 0 | |||||||||||
| Due from subsidiaries and affiliates, net | 598 | ||||||||||||
| Other assets | 20,072 | 18,102 | |||||||||||
| Total assets | 189,152 | 181,741 | |||||||||||
| Unpaid losses and loss expenses | 71,916 | 72,857 | |||||||||||
| Unearned premiums | 17,978 | 16,611 | |||||||||||
| Future policy benefits | 5,909 | 5,610 | |||||||||||
| Due to subsidiaries and affiliates, net | 330 | ||||||||||||
| Affiliated notional cash pooling program | [2] | 0 | |||||||||||
| Repurchase agreements | 1,416 | 1,418 | |||||||||||
| Short-term debt | 1 | 9 | |||||||||||
| Long-term debt | 1 | ||||||||||||
| Trust preferred securities | 0 | 0 | |||||||||||
| Other liabilities | 21,352 | 19,199 | |||||||||||
| Total liabilities | 118,902 | 115,705 | |||||||||||
| Total shareholders' equity | 70,250 | 66,036 | |||||||||||
| Total liabilities and shareholders’ equity | 189,152 | 181,741 | |||||||||||
| Advances To From Affiliates Financing Activities | $ (922) | $ 775 | $ (35) | ||||||||||
| Subsequent Event [Member] | Chubb limited (Parent Guarantor) | |||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Payment Of Contributions To Subsidiary | $ 1,200 | ||||||||||||
| Subsequent Event [Member] | Chubb INA Holdings Inc. (Subsidiary Issuer) | |||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||||
| Advances To From Affiliates Financing Activities | $ (1,500) | ||||||||||||
| |||||||||||||
Information provided in connection with outstanding debt of subsidiaries (Condensed Consolidating Statement Of Operations and Comprehensive Income) (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||
| Net premiums written | $ 32,275 | $ 30,579 | $ 29,244 | ||||||||
| Net premiums earned | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | 31,290 | 30,064 | 29,034 |
| Net Investment Income | 858 | 873 | 859 | 836 | 848 | 823 | 828 | 806 | 3,426 | 3,305 | 3,125 |
| Equity in earnings of subsidiaries | 0 | 0 | 0 | ||||||||
| Net Realized Gains Losses | (55) | (155) | (223) | (97) | (687) | 19 | 18 | (2) | (530) | (652) | 84 |
| Losses and loss expenses | 4,865 | 5,052 | 4,715 | 4,098 | 4,610 | 4,868 | 4,487 | 4,102 | 18,730 | 18,067 | 18,454 |
| Policy benefits | 225 | 158 | 161 | 196 | 162 | 127 | 150 | 151 | 740 | 590 | 676 |
| Policy acquisition costs and administrative expenses | 9,183 | 8,798 | 8,614 | ||||||||
| Interest (income) expense | 552 | 641 | 607 | ||||||||
| Other (Income) Expense | (596) | (434) | (400) | ||||||||
| Amortization of Purchased Intangibles | 305 | 339 | 260 | ||||||||
| Chubb integration expenses | 23 | 59 | 310 | ||||||||
| Income tax expense (benefit) | 795 | 695 | (139) | ||||||||
| Net income | $ 1,173 | $ 1,091 | $ 1,150 | $ 1,040 | $ 355 | $ 1,231 | $ 1,294 | $ 1,082 | 4,454 | 3,962 | 3,861 |
| Comprehensive income | 7,521 | 1,242 | 4,718 | ||||||||
| Chubb limited (Parent Guarantor) | |||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||
| Net premiums written | 0 | 0 | 0 | ||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||
| Net Investment Income | 1 | 6 | 4 | ||||||||
| Equity in earnings of subsidiaries | 4,307 | 3,753 | 3,640 | ||||||||
| Net Realized Gains Losses | (17) | 0 | 0 | ||||||||
| Losses and loss expenses | 0 | 0 | 0 | ||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||
| Policy acquisition costs and administrative expenses | 92 | 87 | 75 | ||||||||
| Interest (income) expense | (243) | (299) | (332) | ||||||||
| Other (Income) Expense | (27) | (24) | (12) | ||||||||
| Amortization of Purchased Intangibles | 0 | 0 | 0 | ||||||||
| Chubb integration expenses | 1 | 14 | 32 | ||||||||
| Income tax expense (benefit) | 14 | 19 | 20 | ||||||||
| Net income | 4,454 | 3,962 | 3,861 | ||||||||
| Comprehensive income | 7,521 | 1,242 | 4,718 | ||||||||
| Chubb INA Holdings Inc. (Subsidiary Issuer) | |||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||
| Net premiums written | 0 | 0 | 0 | ||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||
| Net Investment Income | (15) | 13 | 14 | ||||||||
| Equity in earnings of subsidiaries | 3,022 | 2,578 | 2,424 | ||||||||
| Net Realized Gains Losses | (31) | 117 | (25) | ||||||||
| Losses and loss expenses | 0 | 0 | 0 | ||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||
| Policy acquisition costs and administrative expenses | (26) | (58) | 40 | ||||||||
| Interest (income) expense | 705 | 806 | 847 | ||||||||
| Other (Income) Expense | 6 | 26 | 93 | ||||||||
| Amortization of Purchased Intangibles | 0 | 0 | 0 | ||||||||
| Chubb integration expenses | 2 | 1 | 69 | ||||||||
| Income tax expense (benefit) | (175) | (148) | (742) | ||||||||
| Net income | 2,464 | 2,081 | 2,106 | ||||||||
| Comprehensive income | 4,988 | (27) | 3,075 | ||||||||
| Other Chubb Limited Subsidiaries and Eliminations | |||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||
| Net premiums written | 32,275 | 30,579 | 29,244 | ||||||||
| Net premiums earned | 31,290 | 30,064 | 29,034 | ||||||||
| Net Investment Income | 3,440 | 3,286 | 3,107 | ||||||||
| Equity in earnings of subsidiaries | 0 | 0 | 0 | ||||||||
| Net Realized Gains Losses | (482) | (769) | 109 | ||||||||
| Losses and loss expenses | 18,730 | 18,067 | 18,454 | ||||||||
| Policy benefits | 740 | 590 | 676 | ||||||||
| Policy acquisition costs and administrative expenses | 9,117 | 8,769 | 8,499 | ||||||||
| Interest (income) expense | 90 | 134 | 92 | ||||||||
| Other (Income) Expense | (575) | (436) | (481) | ||||||||
| Amortization of Purchased Intangibles | 305 | 339 | 260 | ||||||||
| Chubb integration expenses | 20 | 44 | 209 | ||||||||
| Income tax expense (benefit) | 956 | 824 | 583 | ||||||||
| Net income | 4,865 | 4,250 | 3,958 | ||||||||
| Comprehensive income | 7,922 | 1,808 | 4,430 | ||||||||
| Consolidating Adjustments | |||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | |||||||||||
| Net premiums written | 0 | 0 | 0 | ||||||||
| Net premiums earned | 0 | 0 | 0 | ||||||||
| Net Investment Income | 0 | 0 | 0 | ||||||||
| Equity in earnings of subsidiaries | (7,329) | (6,331) | (6,064) | ||||||||
| Net Realized Gains Losses | 0 | 0 | 0 | ||||||||
| Losses and loss expenses | 0 | 0 | 0 | ||||||||
| Policy benefits | 0 | 0 | 0 | ||||||||
| Policy acquisition costs and administrative expenses | 0 | 0 | 0 | ||||||||
| Interest (income) expense | 0 | 0 | 0 | ||||||||
| Other (Income) Expense | 0 | 0 | 0 | ||||||||
| Amortization of Purchased Intangibles | 0 | 0 | |||||||||
| Chubb integration expenses | 0 | 0 | 0 | ||||||||
| Income tax expense (benefit) | 0 | 0 | 0 | ||||||||
| Net income | (7,329) | (6,331) | (6,064) | ||||||||
| Comprehensive income | $ (12,910) | $ (1,781) | $ (7,505) | ||||||||
Information provided in connection with outstanding debt of subsidiaries (Condensed Consolidating Statement Of Cash Flows) (Detail) - USD ($) $ in Millions |
12 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
[3] | ||||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | ||||||||||||||||||
| Cash Acquired from Acquisition | $ 45 | $ 0 | $ 0 | |||||||||||||||
| Net cash flows from operating activities | 6,342 | 5,480 | 4,503 | |||||||||||||||
| Payments To Acquire Available For Sale Securities Debt Condensed | (25,846) | (24,735) | (25,747) | |||||||||||||||
| Purchases of fixed maturities held to maturity | (229) | (456) | (352) | |||||||||||||||
| Purchases of equity securities | (531) | (207) | (173) | |||||||||||||||
| Proceeds From Sale Of Available For Sale Securities Debt Condensed | 13,116 | 14,030 | 13,255 | |||||||||||||||
| Sales of equity securities | 611 | 315 | 187 | |||||||||||||||
| Maturities and redemptions of fixed maturities available for sale | 9,039 | 7,352 | 10,425 | |||||||||||||||
| Maturities and redemptions of fixed maturities held to maturity | 946 | 1,124 | 879 | |||||||||||||||
| Net change in short-term investments | (1,117) | 516 | (537) | |||||||||||||||
| Net derivative instruments settlements | (703) | 16 | (265) | |||||||||||||||
| Private equity contributions | (1,315) | (1,337) | (648) | |||||||||||||||
| Private equity distributions | 1,390 | 980 | 1,084 | |||||||||||||||
| Payments to Acquire Businesses, Net of Cash Acquired | (29) | 0 | 0 | |||||||||||||||
| Payment Of Contributions To Subsidiary | 0 | 0 | ||||||||||||||||
| Other | (1,237) | (533) | (530) | |||||||||||||||
| Net Cash Provided by (Used in) Investing Activities | (5,905) | (2,935) | (2,422) | |||||||||||||||
| Dividends paid on Common Shares | (1,354) | (1,337) | (1,308) | |||||||||||||||
| Common Shares repurchased | (1,530) | (1,044) | (801) | |||||||||||||||
| Proceeds from issuance of long-term debt | 2,828 | 2,171 | 0 | |||||||||||||||
| Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | 2,817 | 2,029 | 2,353 | |||||||||||||||
| Repayments of Long-term Debt | (510) | (2,001) | (501) | |||||||||||||||
| Payments for Securities Purchased under Agreements to Resell | (2,817) | (2,019) | (2,348) | |||||||||||||||
| Proceeds from share-based compensation plans | 204 | 115 | 151 | |||||||||||||||
| Advances from (to) affiliates | 0 | 0 | 0 | |||||||||||||||
| Dividends to parent company | 0 | 0 | 0 | |||||||||||||||
| Proceeds from Contributions from Parent | 0 | 0 | ||||||||||||||||
| Net proceeds from (Repayments to) affiliated notional cash pooling program | 0 | 0 | [1] | 0 | ||||||||||||||
| Policyholder contract deposits | 514 | 453 | 442 | |||||||||||||||
| Policyholder contract withdrawals | (303) | (358) | (307) | |||||||||||||||
| Net cash flows (used for) from financing activities | (151) | (1,991) | (2,319) | |||||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 20 | (65) | 1 | |||||||||||||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 306 | 489 | (237) | |||||||||||||||
| Cash and restricted cash | 1,646 | [2] | 1,340 | [1],[2] | 851 | [2],[3] | $ 1,088 | |||||||||||
| Parent Company Only | ||||||||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | ||||||||||||||||||
| Net cash flows from operating activities | [4] | 412 | 256 | 781 | ||||||||||||||
| Payments To Acquire Available For Sale Securities Debt Condensed | 0 | 0 | 0 | |||||||||||||||
| Purchases of fixed maturities held to maturity | 0 | 0 | 0 | |||||||||||||||
| Purchases of equity securities | 0 | 0 | 0 | |||||||||||||||
| Proceeds From Sale Of Available For Sale Securities Debt Condensed | 0 | 0 | 0 | |||||||||||||||
| Sales of equity securities | 0 | 0 | 0 | |||||||||||||||
| Maturities and redemptions of fixed maturities available for sale | 0 | 0 | 0 | |||||||||||||||
| Maturities and redemptions of fixed maturities held to maturity | 0 | 0 | 0 | |||||||||||||||
| Net change in short-term investments | 0 | 0 | 0 | |||||||||||||||
| Net derivative instruments settlements | 0 | 0 | 0 | |||||||||||||||
| Private equity contributions | 0 | 0 | 0 | |||||||||||||||
| Private equity distributions | 0 | 0 | 0 | |||||||||||||||
| Payment Of Contributions To Subsidiary | (1,000) | (1,475) | ||||||||||||||||
| Other | 0 | 0 | 0 | |||||||||||||||
| Net Cash Provided by (Used in) Investing Activities | (1,000) | (1,475) | 0 | |||||||||||||||
| Dividends paid on Common Shares | (1,354) | (1,337) | (1,308) | |||||||||||||||
| Common Shares repurchased | (327) | 0 | 0 | |||||||||||||||
| Proceeds from issuance of long-term debt | 0 | 0 | 0 | |||||||||||||||
| Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | 0 | 0 | 0 | |||||||||||||||
| Repayments of Long-term Debt | 0 | 0 | 0 | |||||||||||||||
| Payments for Securities Purchased under Agreements to Resell | 0 | 0 | 0 | |||||||||||||||
| Proceeds from share-based compensation plans | 0 | 0 | 0 | |||||||||||||||
| Advances from (to) affiliates | 2,301 | 2,519 | 892 | |||||||||||||||
| Dividends to parent company | 0 | 0 | 0 | |||||||||||||||
| Proceeds from Contributions from Parent | 0 | |||||||||||||||||
| Net proceeds from (Repayments to) affiliated notional cash pooling program | [5] | (35) | 35 | (363) | ||||||||||||||
| Policyholder contract deposits | 0 | 0 | 0 | |||||||||||||||
| Policyholder contract withdrawals | 0 | 0 | 0 | |||||||||||||||
| Net cash flows (used for) from financing activities | 585 | 1,217 | (779) | |||||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 4 | 0 | 0 | |||||||||||||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 1 | (2) | 2 | |||||||||||||||
| Cash and restricted cash | 2 | [2] | 1 | [1],[2] | 3 | [2],[3] | 1 | |||||||||||
| Chubb INA Holdings Inc. (Subsidiary Issuer) | ||||||||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | ||||||||||||||||||
| Net cash flows from operating activities | 2,926 | 4,654 | 1,648 | |||||||||||||||
| Payments To Acquire Available For Sale Securities Debt Condensed | (21) | (38) | (9) | |||||||||||||||
| Purchases of fixed maturities held to maturity | 0 | 0 | 0 | |||||||||||||||
| Purchases of equity securities | 0 | 0 | 0 | |||||||||||||||
| Proceeds From Sale Of Available For Sale Securities Debt Condensed | 1 | 11 | 99 | |||||||||||||||
| Sales of equity securities | 0 | 0 | 0 | |||||||||||||||
| Maturities and redemptions of fixed maturities available for sale | 41 | 17 | 29 | |||||||||||||||
| Maturities and redemptions of fixed maturities held to maturity | 0 | 0 | 0 | |||||||||||||||
| Net change in short-term investments | (808) | 3 | 189 | |||||||||||||||
| Net derivative instruments settlements | (74) | (7) | (15) | |||||||||||||||
| Private equity contributions | 0 | 0 | 0 | |||||||||||||||
| Private equity distributions | 0 | 0 | 0 | |||||||||||||||
| Payment Of Contributions To Subsidiary | (110) | (3,550) | ||||||||||||||||
| Other | (4) | (18) | (10) | |||||||||||||||
| Net Cash Provided by (Used in) Investing Activities | (975) | (3,582) | 283 | |||||||||||||||
| Dividends paid on Common Shares | 0 | 0 | 0 | |||||||||||||||
| Common Shares repurchased | 0 | 0 | 0 | |||||||||||||||
| Proceeds from issuance of long-term debt | 2,828 | 2,171 | ||||||||||||||||
| Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | 0 | 0 | 0 | |||||||||||||||
| Repayments of Long-term Debt | (500) | (2,000) | (500) | |||||||||||||||
| Payments for Securities Purchased under Agreements to Resell | 0 | 0 | 0 | |||||||||||||||
| Proceeds from share-based compensation plans | 0 | 0 | 0 | |||||||||||||||
| Advances from (to) affiliates | (3,223) | (1,744) | (927) | |||||||||||||||
| Dividends to parent company | 0 | 0 | 0 | |||||||||||||||
| Proceeds from Contributions from Parent | 0 | |||||||||||||||||
| Net proceeds from (Repayments to) affiliated notional cash pooling program | (617) | 502 | (504) | |||||||||||||||
| Policyholder contract deposits | 0 | 0 | 0 | |||||||||||||||
| Policyholder contract withdrawals | 0 | 0 | 0 | |||||||||||||||
| Net cash flows (used for) from financing activities | (1,512) | (1,071) | (1,931) | |||||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 1 | 0 | 0 | |||||||||||||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 440 | 1 | 0 | |||||||||||||||
| Cash and restricted cash | 442 | [2] | 2 | [1],[2] | 1 | [2],[3] | 1 | |||||||||||
| Other Chubb Limited Subsidiaries and Eliminations | ||||||||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | ||||||||||||||||||
| Net cash flows from operating activities | 6,878 | 5,878 | 4,598 | |||||||||||||||
| Payments To Acquire Available For Sale Securities Debt Condensed | (25,825) | (24,697) | (25,738) | |||||||||||||||
| Purchases of fixed maturities held to maturity | (229) | (456) | (352) | |||||||||||||||
| Purchases of equity securities | (531) | (207) | (173) | |||||||||||||||
| Proceeds From Sale Of Available For Sale Securities Debt Condensed | 13,115 | 14,019 | 13,156 | |||||||||||||||
| Sales of equity securities | 611 | 315 | 187 | |||||||||||||||
| Maturities and redemptions of fixed maturities available for sale | 8,998 | 7,335 | 10,396 | |||||||||||||||
| Maturities and redemptions of fixed maturities held to maturity | 946 | 1,124 | 879 | |||||||||||||||
| Net change in short-term investments | (309) | 513 | (726) | |||||||||||||||
| Net derivative instruments settlements | (629) | 23 | (250) | |||||||||||||||
| Private equity contributions | (1,315) | (1,337) | (648) | |||||||||||||||
| Private equity distributions | 1,390 | 980 | 1,084 | |||||||||||||||
| Payments to Acquire Businesses, Net of Cash Acquired | (29) | |||||||||||||||||
| Other | (1,233) | (515) | (520) | |||||||||||||||
| Net Cash Provided by (Used in) Investing Activities | (5,040) | (2,903) | (2,705) | |||||||||||||||
| Dividends paid on Common Shares | 0 | 0 | 0 | |||||||||||||||
| Common Shares repurchased | (1,203) | (1,044) | (801) | |||||||||||||||
| Proceeds from issuance of long-term debt | 0 | 0 | 0 | |||||||||||||||
| Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | 2,817 | 2,029 | 2,353 | |||||||||||||||
| Repayments of Long-term Debt | (10) | (1) | (1) | |||||||||||||||
| Payments for Securities Purchased under Agreements to Resell | (2,817) | (2,019) | (2,348) | |||||||||||||||
| Proceeds from share-based compensation plans | 204 | 115 | 151 | |||||||||||||||
| Advances from (to) affiliates | 922 | (775) | 35 | |||||||||||||||
| Dividends to parent company | (3,874) | (5,308) | (2,524) | |||||||||||||||
| Proceeds from Contributions from Parent | 1,110 | 5,025 | ||||||||||||||||
| Net proceeds from (Repayments to) affiliated notional cash pooling program | 0 | 0 | 0 | |||||||||||||||
| Policyholder contract deposits | 514 | 453 | 442 | |||||||||||||||
| Policyholder contract withdrawals | (303) | (358) | (307) | |||||||||||||||
| Net cash flows (used for) from financing activities | (2,640) | (1,883) | (3,000) | |||||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 15 | (65) | 1 | |||||||||||||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (787) | 1,027 | (1,106) | |||||||||||||||
| Cash and restricted cash | 1,202 | [2] | 1,989 | [1],[2] | 962 | [3] | 2,068 | |||||||||||
| Consolidating Adjustments | ||||||||||||||||||
| Information Provided In Connection With Outstanding Debt Of Subsidiaries [Line Items] | ||||||||||||||||||
| Net cash flows from operating activities | (3,874) | (5,308) | (2,524) | |||||||||||||||
| Payments To Acquire Available For Sale Securities Debt Condensed | 0 | 0 | 0 | |||||||||||||||
| Purchases of fixed maturities held to maturity | 0 | 0 | 0 | |||||||||||||||
| Purchases of equity securities | 0 | 0 | 0 | |||||||||||||||
| Proceeds From Sale Of Available For Sale Securities Debt Condensed | 0 | 0 | 0 | |||||||||||||||
| Sales of equity securities | 0 | 0 | 0 | |||||||||||||||
| Maturities and redemptions of fixed maturities available for sale | 0 | 0 | 0 | |||||||||||||||
| Maturities and redemptions of fixed maturities held to maturity | 0 | 0 | 0 | |||||||||||||||
| Net change in short-term investments | 0 | 0 | 0 | |||||||||||||||
| Net derivative instruments settlements | 0 | 0 | 0 | |||||||||||||||
| Private equity contributions | 0 | 0 | 0 | |||||||||||||||
| Private equity distributions | 0 | 0 | 0 | |||||||||||||||
| Payment Of Contributions To Subsidiary | 1,110 | 5,025 | ||||||||||||||||
| Other | 0 | 0 | 0 | |||||||||||||||
| Net Cash Provided by (Used in) Investing Activities | 1,110 | 5,025 | 0 | |||||||||||||||
| Dividends paid on Common Shares | 0 | 0 | 0 | |||||||||||||||
| Common Shares repurchased | 0 | 0 | 0 | |||||||||||||||
| Proceeds from issuance of long-term debt | 0 | 0 | ||||||||||||||||
| Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | 0 | 0 | 0 | |||||||||||||||
| Repayments of Long-term Debt | 0 | 0 | 0 | |||||||||||||||
| Payments for Securities Purchased under Agreements to Resell | 0 | 0 | 0 | |||||||||||||||
| Proceeds from share-based compensation plans | 0 | 0 | 0 | |||||||||||||||
| Advances from (to) affiliates | 0 | 0 | 0 | |||||||||||||||
| Dividends to parent company | 3,874 | 5,308 | 2,524 | |||||||||||||||
| Proceeds from Contributions from Parent | (1,110) | (5,025) | ||||||||||||||||
| Net proceeds from (Repayments to) affiliated notional cash pooling program | 652 | (537) | [1] | 867 | ||||||||||||||
| Policyholder contract deposits | 0 | 0 | 0 | |||||||||||||||
| Policyholder contract withdrawals | 0 | 0 | 0 | |||||||||||||||
| Net cash flows (used for) from financing activities | 3,416 | (254) | 3,391 | |||||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 0 | 0 | 0 | |||||||||||||||
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $ 652 | (537) | 867 | |||||||||||||||
| Cash and restricted cash | $ (652) | [1],[2] | $ (115) | [2],[3] | $ (982) | |||||||||||||
| ||||||||||||||||||
Condensed Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Condensed Income Statements, Captions [Line Items] | |||||||||||
| Net premiums earned | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | $ 31,290 | $ 30,064 | $ 29,034 |
| Net Investment Income | 858 | 873 | 859 | 836 | 848 | 823 | 828 | 806 | 3,426 | 3,305 | 3,125 |
| Net Realized Gains Losses | (55) | (155) | (223) | (97) | (687) | 19 | 18 | (2) | (530) | (652) | 84 |
| Total revenues | 8,738 | 9,045 | 8,527 | 7,876 | 7,626 | 8,750 | 8,510 | 7,831 | 34,186 | 32,717 | 32,243 |
| Losses and loss expenses | 4,865 | 5,052 | 4,715 | 4,098 | 4,610 | 4,868 | 4,487 | 4,102 | 18,730 | 18,067 | 18,454 |
| Policy benefits | 225 | 158 | 161 | 196 | 162 | 127 | 150 | 151 | 740 | 590 | 676 |
| Net income | $ 1,173 | $ 1,091 | $ 1,150 | $ 1,040 | $ 355 | $ 1,231 | $ 1,294 | $ 1,082 | $ 4,454 | $ 3,962 | $ 3,861 |
| Basic earnings per share | $ 2.59 | $ 2.40 | $ 2.52 | $ 2.27 | $ 0.77 | $ 2.66 | $ 2.78 | $ 2.32 | $ 9.77 | $ 8.55 | $ 8.26 |
| Diluted earnings per share | $ 2.57 | $ 2.38 | $ 2.50 | $ 2.25 | $ 0.76 | $ 2.64 | $ 2.76 | $ 2.30 | $ 9.71 | $ 8.49 | $ 8.19 |
Condensed Unaudited Quarterly Financial Data Condensed Unaudited Quarterly Financial Data (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Condensed Financial Statements, Captions [Line Items] | |||||
| Loss from Catastrophes | $ 506 | ||||
| Income tax (benefit) credit related to 2017 Tax Act | $ 0 | $ (25) | $ (450) | ||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 475 | ||||
| Scenario, Plan [Member] | |||||
| Condensed Financial Statements, Captions [Line Items] | |||||
| Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 450 | ||||
Schedule I (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Other Investments | $ 6,062 | $ 5,277 |
| Cost or Amortized Cost | 106,179 | |
| Fair Value | 109,511 | |
| Amount at Which Shown in the Balance Sheet | 109,087 | |
| All Related Party [Member] | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Other Investments | 147 | |
| Fixed maturities available for sale | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 82,580 | |
| Fair Value | 85,488 | |
| Amount at Which Shown in the Balance Sheet | 85,488 | |
| Fixed maturities available for sale | U.S. Treasury and agency | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 3,188 | |
| Fair Value | 3,283 | |
| Amount at Which Shown in the Balance Sheet | 3,283 | |
| Fixed maturities available for sale | Foreign | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 22,670 | |
| Fair Value | 23,707 | |
| Amount at Which Shown in the Balance Sheet | 23,707 | |
| Fixed maturities available for sale | Corporate securities | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 30,689 | |
| Fair Value | 31,791 | |
| Amount at Which Shown in the Balance Sheet | 31,791 | |
| Fixed maturities available for sale | Mortgage-backed securities | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 18,712 | |
| Fair Value | 19,192 | |
| Amount at Which Shown in the Balance Sheet | 19,192 | |
| Fixed maturities available for sale | States, municipalities, and political subdivisions | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 7,321 | |
| Fair Value | 7,515 | |
| Amount at Which Shown in the Balance Sheet | 7,515 | |
| Fixed maturities held to maturity | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 12,581 | |
| Fair Value | 13,005 | |
| Amount at Which Shown in the Balance Sheet | 12,581 | |
| Fixed maturities held to maturity | U.S. Treasury and agency | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 1,318 | |
| Fair Value | 1,347 | |
| Amount at Which Shown in the Balance Sheet | 1,318 | |
| Fixed maturities held to maturity | Foreign | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 1,423 | |
| Fair Value | 1,485 | |
| Amount at Which Shown in the Balance Sheet | 1,423 | |
| Fixed maturities held to maturity | Corporate securities | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 2,349 | |
| Fair Value | 2,468 | |
| Amount at Which Shown in the Balance Sheet | 2,349 | |
| Fixed maturities held to maturity | Mortgage-backed securities | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 2,331 | |
| Fair Value | 2,396 | |
| Amount at Which Shown in the Balance Sheet | 2,331 | |
| Fixed maturities held to maturity | States, municipalities, and political subdivisions | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 5,160 | |
| Fair Value | 5,309 | |
| Amount at Which Shown in the Balance Sheet | 5,160 | |
| Industrial, miscellaneous, and all others | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 812 | |
| Fair Value | 812 | |
| Amount at Which Shown in the Balance Sheet | 812 | |
| Short-term investments | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 4,291 | |
| Fair Value | 4,291 | |
| Amount at Which Shown in the Balance Sheet | 4,291 | |
| Other investments | ||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||
| Cost or Amortized Cost | 5,915 | |
| Fair Value | 5,915 | |
| Amount at Which Shown in the Balance Sheet | $ 5,915 |
Schedule II (BALANCE SHEETS - Parent Company Only) (Details) - USD ($) $ in Millions |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Investments in subsidiaries and affiliates on equity basis | $ 0 | $ 0 | ||||||||||
| Cash | 1,537 | [1] | 1,247 | [2] | $ 728 | |||||||
| Due from subsidiaries and affiliates, net | 0 | 0 | ||||||||||
| Other assets | 7,581 | 6,531 | ||||||||||
| Total assets | 176,943 | 167,771 | ||||||||||
| Liabilities | ||||||||||||
| Affiliated notional cash pooling program | [2] | 0 | ||||||||||
| Accounts payable, accrued expenses, and other liabilities | 11,773 | 10,472 | ||||||||||
| Total liabilities | 121,612 | 117,459 | ||||||||||
| Stockholders' Equity Attributable to Parent [Abstract] | ||||||||||||
| Common Shares | 11,121 | 11,121 | ||||||||||
| Common Shares in treasury (27,812,297 and 20,580,486 shares) | (3,754) | (2,618) | ||||||||||
| Retained earnings | 36,142 | 31,700 | ||||||||||
| Accumulated other comprehensive income | 619 | (2,448) | ||||||||||
| Total shareholders' equity | 55,331 | 50,312 | 51,172 | |||||||||
| Total liabilities and shareholders’ equity | 176,943 | 167,771 | ||||||||||
| Parent Company Only | ||||||||||||
| Assets | ||||||||||||
| Investments in subsidiaries and affiliates on equity basis | 50,853 | 43,531 | ||||||||||
| Total investments | 50,853 | 43,531 | ||||||||||
| Cash | 2 | [1] | 1 | [2] | $ 3 | $ 1 | ||||||
| Due from subsidiaries and affiliates, net | 4,776 | 7,074 | ||||||||||
| Other assets | 12 | 3 | ||||||||||
| Total assets | 55,643 | 50,609 | ||||||||||
| Liabilities | ||||||||||||
| Affiliated notional cash pooling program | [3] | 0 | 35 | [2] | ||||||||
| Accounts payable, accrued expenses, and other liabilities | 312 | 262 | ||||||||||
| Total liabilities | 312 | 297 | ||||||||||
| Stockholders' Equity Attributable to Parent [Abstract] | ||||||||||||
| Common Shares | 11,121 | 11,121 | ||||||||||
| Common Shares in treasury (27,812,297 and 20,580,486 shares) | (3,754) | (2,618) | ||||||||||
| Additional paid-in capital | 11,203 | 12,557 | ||||||||||
| Retained earnings | 36,142 | 31,700 | ||||||||||
| Accumulated other comprehensive income | 619 | (2,448) | ||||||||||
| Total shareholders' equity | 55,331 | 50,312 | ||||||||||
| Total liabilities and shareholders’ equity | $ 55,643 | $ 50,609 | ||||||||||
| ||||||||||||
Schedule II Schedule II (STATEMENTS OF OPERATIONS - Parent Company Only) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Condensed Financial Statements, Captions [Line Items] | |||||||||||||
| Equity in net income of subsidiaries and affiliates | [1] | $ 617 | $ 514 | $ 418 | |||||||||
| Total revenues | $ 8,738 | $ 9,045 | $ 8,527 | $ 7,876 | $ 7,626 | $ 8,750 | $ 8,510 | $ 7,831 | 34,186 | 32,717 | 32,243 | ||
| Administrative and other (income) expense | 3,030 | 2,886 | 2,833 | ||||||||||
| Business Combination, Integration Related Costs | 23 | 59 | 310 | ||||||||||
| Income tax expense (benefit) | 795 | 695 | (139) | ||||||||||
| Total expenses | 28,937 | 28,060 | 28,521 | ||||||||||
| Net income | $ 1,173 | $ 1,091 | $ 1,150 | $ 1,040 | $ 355 | $ 1,231 | $ 1,294 | $ 1,082 | 4,454 | 3,962 | 3,861 | ||
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 7,521 | 1,242 | 4,718 | ||||||||||
| Chubb limited (Parent Guarantor) | |||||||||||||
| Condensed Financial Statements, Captions [Line Items] | |||||||||||||
| Investment income, including intercompany interest income | 227 | 305 | 336 | ||||||||||
| Equity in net income of subsidiaries and affiliates | 4,307 | 3,753 | 3,640 | ||||||||||
| Total revenues | 4,534 | 4,058 | 3,976 | ||||||||||
| Administrative and other (income) expense | 65 | 63 | 63 | ||||||||||
| Business Combination, Integration Related Costs | 1 | 14 | 32 | ||||||||||
| Income tax expense (benefit) | 14 | 19 | 20 | ||||||||||
| Total expenses | 80 | 96 | 115 | ||||||||||
| Net income | 4,454 | 3,962 | 3,861 | ||||||||||
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $ 7,521 | $ 1,242 | $ 4,718 | ||||||||||
| |||||||||||||
Schedule II (STATEMENTS OF CASH FLOWS - Parent Company Only) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||||||||
| Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
| Net cash flows from operating activities | $ 6,342 | $ 5,480 | $ 4,503 | ||||||||||||
| Payment Of Contributions To Subsidiary | 0 | 0 | |||||||||||||
| Dividends paid on Common Shares | (1,354) | (1,337) | (1,308) | ||||||||||||
| Common Shares repurchased | (1,530) | (1,044) | (801) | ||||||||||||
| Net proceeds from (payments to) affiliated notional cash pooling programs | 0 | 0 | [1] | 0 | |||||||||||
| Net cash flows (used for) from financing activities | (151) | (1,991) | (2,319) | ||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 20 | (65) | 1 | ||||||||||||
| Cash and restricted cash – beginning of year | 1,247 | [2] | 728 | ||||||||||||
| Cash and restricted cash – end of year | 1,537 | [3] | 1,247 | [2] | 728 | ||||||||||
| Chubb limited (Parent Guarantor) | |||||||||||||||
| Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
| Net cash flows from operating activities | [4] | 412 | 256 | 781 | |||||||||||
| Payment Of Contributions To Subsidiary | (1,000) | (1,475) | |||||||||||||
| Net cash flows used for investing activities | (1,000) | (1,475) | 0 | ||||||||||||
| Dividends paid on Common Shares | (1,354) | (1,337) | (1,308) | ||||||||||||
| Common Shares repurchased | (327) | 0 | 0 | ||||||||||||
| Payments To From Affiliates | 2,301 | 2,519 | 892 | ||||||||||||
| Net proceeds from (payments to) affiliated notional cash pooling programs | [5] | (35) | 35 | (363) | |||||||||||
| Net cash flows (used for) from financing activities | 585 | 1,217 | (779) | ||||||||||||
| Effect of foreign currency rate changes on cash and restricted cash | 4 | 0 | 0 | ||||||||||||
| Net increase (decrease) in cash and restricted cash | 1 | (2) | 2 | ||||||||||||
| Cash and restricted cash – beginning of year | 1 | [2] | 3 | 1 | |||||||||||
| Cash and restricted cash – end of year | 2 | [3] | 1 | [2] | 3 | ||||||||||
| Cash dividend paid by Affiliates | $ 200 | $ 75 | $ 450 | ||||||||||||
| |||||||||||||||
Schedule IV (SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | |||||||||||
| Direct Amount | $ 35,876 | $ 34,108 | $ 32,782 | ||||||||
| Ceded To Other Companies | 7,693 | 7,219 | 7,080 | ||||||||
| Assumed From Other Companies | 3,107 | 3,175 | 3,332 | ||||||||
| Net Amount | $ 7,935 | $ 8,327 | $ 7,891 | $ 7,137 | $ 7,465 | $ 7,908 | $ 7,664 | $ 7,027 | $ 31,290 | $ 30,064 | $ 29,034 |
| Percentage of Amount Assumed to Net | 10.00% | 11.00% | 11.00% | ||||||||
| Property and Casualty [Member] | |||||||||||
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | |||||||||||
| Direct Amount | $ 30,339 | $ 28,793 | $ 27,774 | ||||||||
| Ceded To Other Companies | 7,236 | 6,792 | 6,650 | ||||||||
| Assumed From Other Companies | 2,797 | 2,812 | 2,891 | ||||||||
| Net Amount | $ 25,900 | $ 24,813 | $ 24,015 | ||||||||
| Percentage of Amount Assumed to Net | 11.00% | 11.00% | 12.00% | ||||||||
| Accident and Health [Member] | |||||||||||
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | |||||||||||
| Direct Amount | $ 4,546 | $ 4,409 | $ 4,167 | ||||||||
| Ceded To Other Companies | 376 | 342 | 349 | ||||||||
| Assumed From Other Companies | 119 | 162 | 221 | ||||||||
| Net Amount | $ 4,289 | $ 4,229 | $ 4,039 | ||||||||
| Percentage of Amount Assumed to Net | 3.00% | 4.00% | 5.00% | ||||||||
| Life [Member] | |||||||||||
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | |||||||||||
| Direct Amount | $ 991 | $ 906 | $ 841 | ||||||||
| Ceded To Other Companies | 81 | 85 | 81 | ||||||||
| Assumed From Other Companies | 191 | 201 | 220 | ||||||||
| Net Amount | $ 1,101 | $ 1,022 | $ 980 | ||||||||
| Percentage of Amount Assumed to Net | 17.00% | 20.00% | 22.00% | ||||||||
Schedule VI (SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS) (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract] | |||||
| Deferred Policy Acquisition Costs | $ 4,161 | $ 3,926 | $ 3,805 | ||
| Net Reserves for Unpaid Losses | 48,509 | 48,271 | 49,165 | ||
| Unearned Premiums | 16,771 | 15,532 | 15,216 | ||
| Net Premiums Earned | 30,189 | 29,042 | 28,054 | ||
| Net Investment Income | 3,141 | 3,047 | 2,890 | ||
| Current Year Claim and Claim Adjustment Expense | 19,575 | 19,048 | 19,391 | ||
| Prior Year Claim and Claim Adjustment Expense | (845) | (981) | (937) | ||
| Net Losses and Loss Expenses Incurred Related to Prior Year | [1] | (845) | (981) | (937) | |
| Amortization of Deferred Policy Acquisition Costs | 5,831 | 5,630 | 5,519 | ||
| Net Paid Losses and Loss Expenses | 18,473 | 18,340 | 17,448 | ||
| Net Premiums Written | $ 31,126 | $ 29,505 | $ 28,225 | ||
| |||||