Accrued investment income

2,277

2,500

1,351

1,305

Insurance and reinsurance balances receivable, net of valuation allowance – $63 and $62

17,101

15,944

Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $320 and $320

^[1]

20,159

20,338

Deferred policy acquisition costs

^[1]

295

286

10,452

10,008

Value of business acquired

2,926

2,975

Goodwill

20,370

^[2]

20,207

Other intangible assets

6,217

6,241

Deferred tax assets

1,315

1,312

Prepaid reinsurance premiums

4,105

3,874

Other assets (includes VIE balances of $82 and $58)

6,718

6,925

9,341

9,222

Total assets

275,456

272,327

Liabilities

Unpaid losses and loss expenses

88,915

88,018

Unearned premiums

27,180

26,279

Future policy benefits

19,273

18,420

Policyholders' account balances

642

659

8,782

8,576

Separate account liabilities

6,718

6,925

Insurance and reinsurance balances payable

8,486

8,349

Repurchase agreements (includes VIE balances of $983 and $956)

3,736

3,324

Securities lending payable

2,277

2,500

Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $64 and $159)

9,881

10,108

Deferred tax liabilities

1,759

1,741

Short-term debt

1,500

1,499

Long-term debt

15,970

15,728

Hybrid debt

425

422

Total liabilities

195,544

192,548

Commitments and contingencies (refer to Note 13)

Shareholders’ equity

Common Shares (CHF 0.50 par value; 400,120,847 and 412,107,421 shares issued; 388,495,580 and 391,101,227 shares outstanding)

224

231

Common Shares in treasury (11,625,267 and 21,006,194 shares)

(2,302)

(4,699)

Additional paid-in capital

12,956

13,250

Retained earnings

68,821

69,950

Accumulated other comprehensive income (loss) (AOCI)

(5,911)

(4,975)

Total Chubb shareholders’ equity

73,788

73,757

Noncontrolling interests (includes VIE balances of $5,316 and $5,133)

6,124

6,022

Total shareholders' equity

79,912

79,779

Total liabilities and shareholders’ equity

$ 275,456

$ 272,327

[1]	Net of valuation allowance for uncollectible reinsurance.
[2]	Includes $420 million attributable to noncontrolling interests.

Consolidated Balance Sheets (Parentheticals) (Unaudited) $ in Millions	Mar. 31, 2026 USD ($) shares	Dec. 31, 2025 USD ($) shares
Statement of Financial Position [Abstract]
Short-term investments, amortized cost	$ 5,067	$ 4,840
Fixed maturities available-for-sale, valuation allowance	50	52
Fixed maturities available-for-sale, amortized cost	127,301	124,726
Private debt held-to-maturity, valuation allowance	2	3
Restricted cash	203	198
Insurance and reinsurance balances receivable, valuation allowance	63	62
Valuation allowance for uncollectible reinsurance	$ 320	$ 320
Common Shares, shares issued \| shares	400,120,847	412,107,421
Common Stock, Shares Authorized \| shares	400,120,847	412,107,421
Common Shares, shares outstanding \| shares	388,495,580	391,101,227
Treasury Stock, Common, Shares \| shares	11,625,267	21,006,194
Short-term investments	$ 5,067	$ 4,840
Equity securities	10,916	10,801
Private equities	17,132	17,239
Other investments	11,170	10,749
Cash, including restricted cash	2,634	2,470
Other assets	9,341	9,222
Repurchase agreements	3,736	3,324
Noncontrolling interests	6,124	6,022
Variable Interest Entity, Primary Beneficiary
Short-term investments	109	105
Equity securities	2,379	2,275
Private equities	23	22
Other investments	5,828	5,818
Cash, including restricted cash	258	168
Other assets	82	58
Repurchase agreements	983	956
Other liabilities	64	159
Noncontrolling interests	$ 5,316	$ 5,133

Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues
Net premiums written	$ 14,005	$ 12,646
Increase in unearned premiums	(548)	(646)
Net premiums earned	13,457	12,000
Net investment income	1,709	1,561
Net realized gains (losses)	(407)	(116)
Market risk benefits gains (losses)	14	(92)
Total revenues	14,773	13,353
Expenses
Losses and loss expenses	6,131	6,896
Policy benefits (includes remeasurement losses of $2 and $3)	1,785	1,227
Policy acquisition costs	2,596	2,313
Administrative expenses	1,149	1,080
Interest expense	198	181
Other (income) expense	(161)	(83)
Amortization of purchased intangibles	73	75
Integration expenses and severance	9	0
Total expenses	11,780	11,689
Income before income tax	2,993	1,664
Income tax expense	646	321
Net income	2,347	1,343
Net income attributable to noncontrolling interests	27	12
Net income attributable to Chubb	2,320	1,331
Other comprehensive income (loss):
Unrealized appreciation (depreciation)	(1,826)	901
Current discount rate on future policy benefits	386	(122)
Instrument-specific credit risk on market risk benefits	12	4
Cumulative foreign currency translation adjustment	528	359
Other, including postretirement benefit liability adjustment	(6)	(95)
Other comprehensive income (loss), before income tax	(906)	1,047
Income tax (expense) benefit related to OCI items	141	(43)
Other comprehensive income (loss)	(765)	1,004
Comprehensive income	1,582	2,347
Comprehensive income attributable to noncontrolling interests	198	7
Comprehensive income attributable to Chubb	$ 1,384	$ 2,340
Earnings per share
Basic earnings per share attributable to Chubb	$ 5.94	$ 3.32
Diluted earnings per share attributable to Chubb	$ 5.88	$ 3.29

Consolidated Statements Of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock, Common	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Parent	Noncontrolling Interest
Total shareholders' equity		$ 235	$ (3,524)	$ 14,393	$ 61,561	$ (8,644)		$ 4,373
Treasury Stock, Retired, Cost Method, Amount		(4)	(1,942)		(1,939)
Common Shares repurchased			(385)
Net shares issued under employee share-based compensation plans			(168)
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures				(146)
Exercise of stock options				1
Share-based compensation expense				94
Adjustments to Additional Paid in Capital, Other				0
Funding of dividends declared to Retained earnings				(366)
Net income attributable to Chubb	$ 1,331				1,331
Funding of dividends declared from Additional paid-in capital					366
Dividends declared on Common Shares					(366)
Other Comprehensive Income (Loss), Net of Tax	1,004					1,009
Net increase (decrease) due to consolidation, deconsolidation, and other transactions								649
Net income attributable to noncontrolling interests	12							12
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest								(5)
Total shareholders' equity	70,755	231	(1,799)	13,976	60,953	(7,635)	$ 65,726	5,029
Total shareholders' equity	79,779	231	(4,699)	13,250	69,950	(4,975)		6,022
Treasury Stock, Retired, Cost Method, Amount		(7)	(3,455)		(3,449)
Common Shares repurchased			(1,143)
Net shares issued under employee share-based compensation plans			(85)
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures				(66)
Exercise of stock options				5
Share-based compensation expense				100
Adjustments to Additional Paid in Capital, Other				47
Funding of dividends declared to Retained earnings				(380)
Net income attributable to Chubb	2,320				2,320
Funding of dividends declared from Additional paid-in capital					380
Dividends declared on Common Shares					(380)
Other Comprehensive Income (Loss), Net of Tax	(765)					(936)
Net increase (decrease) due to consolidation, deconsolidation, and other transactions								(96)
Net income attributable to noncontrolling interests	27							27
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest								171
Total shareholders' equity	$ 79,912	$ 224	$ (2,302)	$ 12,956	$ 68,821	$ (5,911)	$ 73,788	$ 6,124

Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities
Net income	$ 2,347	$ 1,343
Adjustments to reconcile net income to net cash flows from operating activities
Net realized (gains) losses	407	116
Market risk benefits (gains) losses	(14)	92
Amortization of premiums (discounts) on fixed maturities	(102)	(100)
Amortization of purchased intangibles	73	75
Equity in net income (loss) of partially-owned entities	(157)	(82)
Deferred income taxes	156	(198)
Unpaid losses and loss expenses	646	1,182
Unearned premiums	747	868
Future policy benefits	1,023	440
Insurance and reinsurance balances payable	77	305
Accounts payable, accrued expenses, and other liabilities	(592)	(567)
Income taxes	217	203
Insurance and reinsurance balances receivable	(1,076)	(874)
Reinsurance recoverable	244	(127)
Deferred policy acquisition costs	(419)	(428)
Net sales (purchases) of investments by consolidated investment products	144	(435)
Other	226	(247)
Net cash flows from operating activities	3,947	1,566
Cash flows from investing activities
Purchases of fixed maturities available-for-sale	(9,119)	(5,894)
Purchases of equity securities	(993)	(783)
Sales of fixed maturities available-for-sale	3,069	2,660
Sales of equity securities	878	637
Maturities and redemptions of fixed maturities available-for-sale	3,750	2,902
Net change in short-term investments	(133)	773
Net derivative instruments settlements	19	(21)
Private equity contributions	(161)	(879)
Private equity distributions	241	222
Other	(386)	(415)
Net cash flows used for investing activities	(2,835)	(798)
Cash flows from financing activities
Dividends paid on Common Shares	(380)	(366)
Common Shares repurchased	(1,174)	(691)
Proceeds from issuance of long-term debt	254	0
Repayment of long-term debt	0	(800)
Proceeds from share-based compensation plans	118	98
Policyholder contract deposits	382	242
Policyholder contract withdrawals	(271)	(176)
Third-party capital invested into consolidated investment products	494	559
Third-party capital distributed by consolidated investment products	(499)	(242)
Proceeds from issuance of repurchase agreements	(2,164)	(810)
Repayment of repurchase agreements	(1,917)	(447)
Other	(121)	(112)
Net cash flows used for financing activities	(950)	(1,125)
Effect of foreign currency rate changes on cash and restricted cash	2	58
Net increase (decrease) in cash and restricted cash	164	(299)
Cash and restricted cash - beginning of period	2,470	2,549
Cash and restricted cash - end of period	2,634	2,250
Supplemental cash flow information
Interest paid	$ 189	$ 146

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	$ (2)	$ (3)

General and significant accounting policies	3 Months Ended
General and significant accounting policies	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General and 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 18 for additional information. The interim unaudited Consolidated Financial Statements include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These interim unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. 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 have been eliminated. The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our 2025 Form 10-K. b) New Accounting Pronouncements Accounting guidance not yet adopted Disaggregation of Income Statement Expenses In November 2024, the FASB issued guidance that requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our 2027 annual reporting, and interim reporting periods beginning in 2028. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2026
Business Combination [Abstract]
Acquisitions	Acquisitions Liberty Mutual's P&C Insurance Business in Vietnam We completed the acquisition of Liberty Insurance in Vietnam on February 2, 2026. The results of operations for Liberty Insurance in Vietnam are reported in our Overseas General Insurance segment and are not material to Chubb's financial results.

Investments

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Investments

a) Fixed maturities


March 31, 2026	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. and local government securities	$	3,915	$	—	$	17	$	(235)	$	3,697
Non-U.S.	41,543		(12)		396		(1,345)		40,582
Corporate and asset-backed securities	49,466		(38)		367		(1,963)		47,832
Mortgage-backed securities	32,377		—		240		(1,295)		31,322

	$	127,301	$	(50)	$	1,020	$	(4,838)	$	123,433


December 31, 2025	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. and local government securities	$	3,908	$	—	$	27	$	(221)	$	3,714
Non-U.S.	40,479		(10)		795		(908)		40,356
Corporate and asset-backed securities	48,806		(42)		734		(1,612)		47,886
Mortgage-backed securities	31,533		—		398		(1,207)		30,724

	$	124,726	$	(52)	$	1,954	$	(3,948)	$	122,680

The following table presents fixed maturities by contractual maturity:


	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available-for-sale
Due in 1 year or less	$	4,553	$	4,553	$	4,749	$	4,749
Due after 1 year through 5 years	36,333		36,333		35,611		35,611
Due after 5 years through 10 years	31,062		31,062		31,514		31,514
Due after 10 years	20,163		20,163		20,082		20,082
	92,111		92,111		91,956		91,956
Mortgage-backed securities	31,322		31,322		30,724		30,724
	$	123,433	$	123,433	$	122,680	$	122,680

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

Fixed maturities in an unrealized loss position comprised both investment grade and below investment grade securities for which fair value declined, principally due to rising interest rates since the date of purchase. Refer to Note 1 f) in the 2025 Form 10-K for further information on factors considered in the evaluation of expected credit losses.

The following tables present, for available-for-sale (AFS) fixed maturities in an unrealized loss position (including securities on loan) that are not deemed to have expected credit losses, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:


	0 – 12 Months				Over 12 Months				Total
March 31, 2026	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. and local government securities	$	743	$	(9)	$	1,983	$	(226)	$	2,726	$	(235)
Non-U.S.	14,685		(468)		8,352		(750)		23,037		(1,218)
Corporate and asset-backed securities	14,841		(237)		9,626		(1,088)		24,467		(1,325)
Mortgage-backed securities	6,046		(62)		10,007		(1,233)		16,053		(1,295)

Total AFS fixed maturities	$	36,315	$	(776)	$	29,968	$	(3,297)	$	66,283	$	(4,073)


	0 – 12 Months				Over 12 Months				Total
December 31, 2025	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. and local government securities	$	307	$	(3)	$	2,139	$	(216)	$	2,446	$	(219)
Non-U.S.	6,664		(163)		8,995		(622)		15,659		(785)
Corporate and asset-backed securities	4,136		(59)		10,225		(867)		14,361		(926)
Mortgage-backed securities	1,467		(12)		11,016		(1,194)		12,483		(1,206)

Total AFS fixed maturities	$	12,574	$	(237)	$	32,375	$	(2,899)	$	44,949	$	(3,136)

At March 31, 2026, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $336 million necessary due to limitations on the utilization of these losses for tax purposes. As part of evaluating whether it was more likely than not that we could record a tax benefit on these losses, we considered realized gains, carryback capacity and available tax planning strategies.

The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	52	$	70


Provision for expected credit loss	19		21



Recovery of expected credit loss	(21)		(28)
Valuation allowance for expected credit losses - end of period	$	50	$	63
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	3	$	4

Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	2	$	3

c) Net realized gains (losses)

The following table presents the components of net realized gains (losses):


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Fixed maturities:
Gross realized gains	$	40	$	38
Gross realized losses	(124)		(96)
Other investments - Fixed maturities (includes $(20) million and $(53) million related to investments measured under the fair value option)	(8)		(40)
Net recovery of expected credit losses	3		8
Impairment (1)	(32)		(7)
Total fixed maturities	(121)		(97)
Equity securities (includes $(67) million and $53 million related to investments measured under the fair value option)	(149)		63
Private equities (less than 3 percent ownership)	16		11
Foreign exchange	(8)		(65)
Investment and embedded derivative instruments	(115)		(23)
Other derivative instruments	(9)		(3)
Other	(21)		(2)
Net realized gains (losses) (pre-tax)	$	(407)	$	(116)

(1)Relates to certain securities we intend to sell and securities written to market entering default.

Realized gains and losses from Equity securities, Other investments and Private equities from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:


											Three Months Ended
													March 31
							2026								2025
(in millions of U.S. dollars)	Equity Securities		Other Investments		Private Equities		Total		Equity Securities		Other Investments		Private Equities		Total
Net gains (losses) recognized during the period	$	(149)	$	(8)	$	16	$	(141)	$	63	$	(40)	$	11	$	34
Less: Net gains (losses) recognized from sales of securities	94		—		—		94		(12)		1		—		(11)
Unrealized gains (losses) recognized for securities still held at reporting date	$	(243)	$	(8)	$	16	$	(235)	$	75	$	(41)	$	11	$	45

d) Private equities

Private equities include investment funds, limited partnerships, and partially-owned investment companies 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 for private equities:


	Expected Liquidation Period of Underlying Assets	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,270	$	443	$	1,420	$	483
Real assets	2 to 13 Years	1,901		1,104		1,924		1,111
Distressed	2 to 8 Years	1,198		1,231		1,226		977
Private credit	3 to 8 Years	301		292		299		302
Traditional	2 to 14 Years	12,081		4,209		11,990		4,345
Vintage	1 to 3 Years	33		—		43		—
Investment funds	Not Applicable	348		—		337		—
		$	17,132	$	7,279	$	17,239	$	7,218

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.


Investment Category:						Consists of investments in private equity funds:
Financial						targeting financial services companies, such as financial institutions and insurance services worldwide
Real assets						targeting investments related to hard physical assets, such as real estate, infrastructure, and natural resources
Distressed						targeting distressed corporate debt/credit and equity opportunities in the U.S.
Private credit						targeting privately originated corporate debt investments, including senior secured loans and subordinated bonds
Traditional						employing traditional private equity investment strategies, such as buyout and growth equity globally
Vintage						funds where the initial fund term has expired

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 are up to 270 days. Chubb can redeem its investment funds without consent from the investment fund managers.

e) 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 at March

31, 2026, and December 31, 2025, are investments, primarily fixed maturities, totaling $19,373 million and $19,048 million, respectively, and cash of $203 million and $198 million, respectively.

The following table presents the components of restricted assets:


	March 31		December 31
(in millions of U.S. dollars)	2026		2025
Trust funds	$	8,519	$	8,461
Assets pledged under repurchase agreements	3,925		3,518
Deposits with U.S. regulatory authorities	2,566		2,598

Deposits with non-U.S. regulatory authorities and other	4,566		4,669

Total	$	19,576	$	19,246

f) Variable interest entities (VIEs)

Consolidated VIEs

Certain subsidiaries of Huatai Group are the investment manager of, and maintain investments in, sponsored investment products that are considered VIEs. We have determined that we are the primary beneficiary and consolidate these investment products if we hold at least 10 percent ownership. Refer to Note 1 g) of our 2025 Form 10-K for further information on our consolidation criteria. The assets of these VIEs are not available to our creditors, and the investors in these VIEs have no recourse to Chubb in excess of the assets contained within the VIEs. Our economic exposures are limited to our investments based on our ownership interest in these VIEs. Our total exposure to these consolidated investment products represents the value of our economic ownership interest.

Unconsolidated VIEs

We recorded an investment in a reserved alternative investment fund (Fund) sponsored and managed by a third-party investment fund manager. The Fund is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate the Fund because Chubb does not receive substantially all the risks and returns of the Fund. The carrying value of this investment at March 31, 2026, and December 31, 2025, was $5.3 billion and $5.4 billion, respectively, which approximates our maximum risk of loss. We have elected to account for this investment using the fair value option, classified as Equity securities on the Consolidated balance sheets. We elected the fair value option so that changes in fair value of the Fund are recorded in Net realized gains (losses) and dividends from the Fund are recorded as Net investment income when declared on the Consolidated statements of operations.

We also do not consolidate sponsored investment products where we have determined that we are not the primary beneficiary. The carrying value of these investments at March 31, 2026, and December 31, 2025, was $89 million and $70 million, respectively, and our maximum risk of loss approximates the carrying amount. These investments are classified primarily within Equity securities on the Consolidated balance sheets.

Fair value measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

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:

•Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets;

•Level 2 – Includes, among other items, inputs other than quoted prices that are observable for the asset or liability such as

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

•Level 3 – Inputs that are unobservable and reflect management’s judgments about assumptions that market participants

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 U.S. GAAP. We do not adjust prices obtained from pricing services. Refer to Note 4 a) of our 2025 Form 10-K for further information on the valuation and leveling of assets and liabilities measured at fair value.

Financial instruments measured at fair value on a recurring basis, by valuation hierarchy


March 31, 2026	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. and local government securities	$	1,487	$	2,210	$	—	$	3,697
Non-U.S.	—		39,893		689		40,582
Corporate and asset-backed securities	—		44,296		3,536		47,832
Mortgage-backed securities	—		31,322		—		31,322

	1,487		117,721		4,225		123,433
Equity securities (1)	5,343		—		121		5,464
Short-term investments	2,591		2,465		11		5,067
Other investments (2)	664		9,073		—		9,737
Securities lending collateral	—		2,277		—		2,277
Investment derivatives	33		—		—		33
Derivatives designated as hedging instruments	—		265		—		265
Other derivative instruments	28		—		—		28
Separate account assets	6,649		69		—		6,718
Total assets measured at fair value (1)(2)(3)	$	16,795	$	131,870	$	4,357	$	153,022
Liabilities:
Investment derivatives	$	358	$	—	$	—	$	358
Derivatives designated as hedging instruments	—		80		—		80

Market risk benefits (4)	—		—		642		642
Total liabilities measured at fair value	$	358	$	80	$	642	$	1,080

(1)Excluded from the table above are funds of $5,452 million, measured using NAV as a practical expedient.

(2)Excluded from the table above are other investments of $1,433 million, principally policy loans, measured using NAV as a practical expedient.

(3)Excluded from the table above are private equities of $17,132 million, measured using NAV as a practical expedient.

(4)Refer to Note 11 for additional information on Market risk benefits.


December 31, 2025	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. and local government securities	$	1,481	$	2,233	$	—	$	3,714
Non-U.S.	—		39,685		671		40,356
Corporate and asset-backed securities	—		44,340		3,546		47,886
Mortgage-backed securities	—		30,724		—		30,724

	1,481		116,982		4,217		122,680
Equity securities (1)	5,163		—		119		5,282
Short-term investments	2,657		2,138		45		4,840
Other investments (2)	630		8,684		—		9,314
Securities lending collateral	—		2,500		—		2,500
Investment derivatives	22		—		—		22
Derivatives designated as hedging instruments	—		266		—		266
Other derivative instruments	11		—		—		11
Separate account assets	6,858		67		—		6,925
Total assets measured at fair value (1)(2)(3)	$	16,822	$	130,637	$	4,381	$	151,840
Liabilities:
Investment derivatives	$	242	$	—	$	—	$	242
Derivatives designated as hedging instruments	—		232		—		232
Other derivative instruments	—		4		—		4
Market risk benefits (4)	—		—		659		659
Total liabilities measured at fair value	$	242	$	236	$	659	$	1,137

(1)Excluded from the table above are funds of $5,519 million, measured using NAV as a practical expedient.

(2)Excluded from the table above are other investments of $1,435 million, principally policy loans, measured using NAV as a practical expedient.

(3)Excluded from the table above are private equities of $17,239 million, measured using NAV as a practical expedient.

(4)Refer to Note 11 for additional information on Market risk benefits.

Level 3 financial instruments

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). Excluded from the tables below is the reconciliation of Market risk benefits, refer to Note 11 for additional information.


Three Months Ended March 31, 2026 (in millions of U.S. dollars)		Available-for-Sale Debt Securities					Equity securities			Short-term investments
	Non-U.S.			Corporate and asset- backed securities

Balance, beginning of period		$	671		$	3,546		$	119		$	45
Transfers into Level 3		2			1			—			—
Transfers out of Level 3		—			(17)			—			—
Change in Net Unrealized Gains (Losses) in OCI		(10)			(14)			—			(2)
Net Realized Gains (Losses)		—			(7)			—			—

Purchases		76			111			6			8
Sales		(30)			(1)			(4)			—
Settlements		(20)			(83)			—			(40)

Balance, end of period		$	689		$	3,536		$	121		$	11
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	(3)		$	—		$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	(10)		$	(18)		$	—		$	(1)


Three Months Ended March 31, 2025 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	604		$	2,891		$	3	$	120	$	14
Transfers into Level 3		1			24			—		—		—
Transfers out of Level 3		—			(1)			—		—		—
Change in Net Unrealized Gains (Losses) in OCI		20			(4)			—		—		—
Net Realized Gains (Losses)		(6)			(2)			(2)		(5)		—

Purchases		60			219			1		7		5
Sales		(53)			(47)			(2)		(9)		—
Settlements		(39)			(63)			—		—		(1)

Balance, end of period		$	587		$	3,017		$	—	$	113	$	18
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	(1)		$	(3)		$	—	$	5	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	14		$	(10)		$	—	$	—	$	—

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. Refer to Note 4 b) of our 2025 Form 10-K for information on the fair value methods and assumptions for private debt held-for-investment, repurchase agreements, short-term and long-term debt, and hybrid debt.

The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:


March 31, 2026	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,515	$	2,515	$	2,477
Total assets	$	—	$	—	$	2,515	$	2,515	$	2,477
Liabilities:
Repurchase agreements	$	—	$	3,736	$	—	$	3,736	$	3,736
Short-term debt	—		1,499		—		1,499		1,500
Long-term debt	—		14,038		590		14,628		15,970
Hybrid debt	—		480		—		480		425
Total liabilities	$	—	$	19,753	$	590	$	20,343	$	21,631


December 31, 2025	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,445	$	2,445	$	2,411
Total assets	$	—	$	—	$	2,445	$	2,445	$	2,411
Liabilities:
Repurchase agreements	$	—	$	3,324	$	—	$	3,324	$	3,324
Short-term debt	—		1,498		—		1,498		1,499
Long-term debt	—		14,045		576		14,621		15,728
Hybrid debt	—		484		—		484		422
Total liabilities	$	—	$	19,351	$	576	$	19,927	$	20,973

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Deferred Policy Acquisition Costs Disclosures [Abstract]

Reinsurance

3 Months Ended

Mar. 31, 2026

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance


	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	18,253	$	256	$	18,346	$	248
Reinsurance recoverable on paid losses and loss expenses	1,906		64		1,992		72
Reinsurance recoverable on losses and loss expenses	$	20,159	$	320	$	20,338	$	320
Reinsurance recoverable on policy benefits	$	295	$	—	$	286	$	—

(1)Net of valuation allowance for uncollectible reinsurance.

The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on losses and loss expenses:


	Three Months Ended
			March 31
(in millions of U.S. dollars)	2026		2025
Valuation allowance for uncollectible reinsurance - beginning of period	$	320	$	310
Provision for uncollectible reinsurance	8		11
Write-offs charged against the valuation allowance	(9)		(2)
Foreign exchange revaluation	1		1

Valuation allowance for uncollectible reinsurance - end of period	$	320	$	320

For additional information, refer to Note 1 e) to the Consolidated Financial Statements of our 2025 Form 10-K.

Deferred acquisition costs

3 Months Ended

Mar. 31, 2026

Deferred Policy Acquisition Costs

Deferred policy acquisition costs

The following tables present a roll-forward of deferred policy acquisition costs on long-duration contracts included in the Life Insurance segment:


	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	567	$	746	$	1,296	$	2,136	$	392	$	5,137
Capitalizations	64		26		139		197		52		478
Amortization expense	(41)		(21)		(18)		(71)		(9)		(160)

Other (including foreign exchange)	5		(7)		(1)		(2)		1		(4)
Balance – end of Period	$	595	$	744	$	1,416	$	2,260	$	436	$	5,451
Overseas General Insurance segment excluded from table											713
Total deferred policy acquisition costs on long-duration contracts											$	6,164
Deferred policy acquisition costs on short-duration contracts											4,288
Total deferred policy acquisition costs											$	10,452


	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	469	$	722	$	870	$	1,681	$	324	$	4,066
Capitalizations	58		38		109		170		40		415
Amortization expense	(36)		(20)		(12)		(54)		(7)		(129)

Other (including foreign exchange)	4		(8)		(4)		(16)		(2)		(26)
Balance – end of period	$	495	$	732	$	963	$	1,781	$	355	$	4,326
Overseas General Insurance segment excluded from table											608
Total deferred policy acquisition costs on long-duration contracts											$	4,934
Deferred policy acquisition costs on short-duration contracts											3,841
Total deferred policy acquisition costs											$	8,775

Goodwill

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill

The following table presents a roll-forward of Goodwill by segment:


(in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Chubb Consolidated
Balance at December 31, 2025	$	7,191	$	2,226	$	134	$	5,530	$	371	$	4,755	$	20,207
Measurement-period adjustments	—		—		—		(7)		—		—		(7)

Foreign exchange revaluation	9		3		—		77		—		81		170
Balance at March 31, 2026 (1)	$	7,200	$	2,229	$	134	$	5,600	$	371	$	4,836	$	20,370

(1)Includes $420 million attributable to noncontrolling interests.

Unpaid losses and loss expenses, and Future policy benefits

3 Months Ended

Mar. 31, 2026

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]

Unpaid losses and loss expenses

The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025

Gross unpaid losses and loss expenses – beginning of period	$	88,018	$	84,004
Reinsurance recoverable on unpaid losses and loss expenses – beginning of period (1)	(18,346)		(17,734)
Net unpaid losses and loss expenses – beginning of period	69,672		66,270
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	6,419		7,133
Prior years (2)	(288)		(237)
Total	6,131		6,896
Net losses and loss expenses paid in respect of losses occurring in:
Current year	1,191		1,305
Prior years	4,140		4,699
Total	5,331		6,004
Foreign currency revaluation and other	190		228
Net unpaid losses and loss expenses – end of period	70,662		67,390
Reinsurance recoverable on unpaid losses and loss expenses (1)	18,253		18,081
Gross unpaid losses and loss expenses – end of period	$	88,915	$	85,471

(1) Net of valuation allowance for uncollectible reinsurance.

(2) Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $2 million and $(18) million for the three months ended March 31, 2026 and 2025, respectively.

Net unpaid losses and loss expenses increased $990 million for the three months ended March 31, 2026, principally reflecting underlying exposure growth and the unfavorable impact of foreign currency movement, partially offset by the impact of favorable prior period development and crop activity.

Prior Period Development

Prior period development (PPD) 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 financial lines; while short-tail lines include lines such as most property lines, energy, personal accident, and agriculture. The following table summarizes (favorable) and adverse PPD by segment:


	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail		Short-tail		Total
2026
North America Commercial P&C Insurance	$	21	$	(110)	$	(89)
North America Personal P&C Insurance	—		(1)		(1)
North America Agricultural Insurance	—		(80)		(80)
Overseas General Insurance	—		(131)		(131)
Global Reinsurance	—		—		—
Corporate	15		—		15
Total	$	36	$	(322)	$	(286)
2025
North America Commercial P&C Insurance	$	49	$	(163)	$	(114)
North America Personal P&C Insurance	—		—		—
North America Agricultural Insurance	—		(33)		(33)
Overseas General Insurance	1		(122)		(121)
Global Reinsurance	(5)		5		—
Corporate	13		—		13
Total	$	58	$	(313)	$	(255)

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. Net favorable development for the three months ended March 31, 2026, included $110 million from short-tail lines, primarily from surety, due to lower-than-expected loss development. This favorable development was partially offset by net adverse development of $21 million from long-tail lines, primarily from general casualty partially offset by favorable development in workers' compensation and financial lines.

Net favorable development for the three months ended March 31, 2025, included $163 million from short-tail lines, primarily from surety, due to lower-than-expected loss development. This favorable development was partially offset by net adverse development of $49 million from long-tail lines, primarily from general casualty partially offset by favorable development in workers' compensation and financial lines.

North America Agricultural Insurance. Net favorable development for the three months ended March 31, 2026, was driven by multi-peril crop insurance results for the 2025 crop year.

Overseas General Insurance. Net favorable development for the three months ended March 31, 2026, includes a $131 million release from short-tail lines, primarily property.

Net favorable development for the three months ended March 31, 2025, included a $122 million release from short-tail lines.

Future policy benefits

The following tables present a roll-forward of the liability for future policy benefits included in the Life Insurance segment:


Present Value of Expected Net Premiums	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,544	$	4,749	$	11,688	$	426	$	18,407
Beginning balance at original discount rate	1,814		4,616		11,665		423		18,518
Effect of changes in cash flow assumptions	—		—		—		—		—
Effect of actual variances from expected experience	2		53		(187)		4		(128)
Adjusted beginning of period balance	1,816		4,669		11,478		427		18,390
Issuances	70		495		609		234		1,408
Interest accrual	15		36		138		3		192
Net premiums collected (1)	(62)		(565)		(390)		(122)		(1,139)

Other (including foreign exchange)	10		27		87		8		132
Ending balance at original discount rate	1,849		4,662		11,922		550		18,983
Effect of changes in discount rate assumptions	(282)		81		(250)		2		(449)
Balance – end of period	$	1,567	$	4,743	$	11,672	$	552	$	18,534

(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,313	$	13,791	$	15,587	$	1,084	$	32,775
Beginning balance at original discount rate	2,715		13,133		15,645		1,058		32,551
Effect of changes in cash flow assumptions	—		—		—		—		—
Effect of actual variances from expected experience	9		55		(194)		4		(126)
Adjusted beginning of period balance	2,724		13,188		15,451		1,062		32,425
Issuances	70		495		609		234		1,408
Interest accrual	21		112		170		8		311
Benefit payments	(56)		(87)		(422)		(7)		(572)

Other (including foreign exchange)	8		123		63		21		215
Ending balance at original discount rate	2,767		13,831		15,871		1,318		33,787
Effect of changes in discount rate assumptions	(436)		336		(400)		2		(498)
Balance – end of period	$	2,331	$	14,167	$	15,471	$	1,320	$	33,289


Liability for Future Policy Benefits	March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	764	$	9,424	$	3,799	$	768	$	14,755
Deferred profit liability	323		2,210		243		128		2,904
Net liability for future policy benefits, before reinsurance recoverable	1,087		11,634		4,042		896		17,659
Less: Reinsurance recoverable on future policy benefits	110		48		125		1		284
Net liability for future policy benefits, after reinsurance recoverable	$	977	$	11,586	$	3,917	$	895	$	17,375
Weighted average duration (years)	11.1		25.8		10.0		27.2		21.4


Present Value of Expected Net Premiums	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,523	$	4,405	$	11,626	$	125	$	17,679
Beginning balance at original discount rate	1,819		4,303		11,499		124		17,745
Effect of changes in cash flow assumptions	—		(4)		(5)		—		(9)
Effect of actual variances from expected experience	7		23		(93)		—		(63)
Adjusted beginning of period balance	1,826		4,322		11,401		124		17,673
Issuances	65		288		599		208		1,160
Interest accrual	14		32		133		2		181
Net premiums collected (1)	(59)		(311)		(370)		(61)		(801)

Other (including foreign exchange)	(6)		(19)		(86)		2		(109)
Ending balance at original discount rate	1,840		4,312		11,677		275		18,104
Effect of changes in discount rate assumptions	(295)		111		212		1		29
Balance – end of period	$	1,545	$	4,423	$	11,889	$	276	$	18,133

(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,238	$	12,057	$	15,693	$	647	$	30,635
Beginning balance at original discount rate	2,647		11,242		15,652		601		30,142
Effect of changes in cash flow assumptions	—		(10)		2		—		(8)
Effect of actual variances from expected experience	10		24		(95)		—		(61)
Adjusted beginning of period balance	2,657		11,256		15,559		601		30,073
Issuances	65		288		599		208		1,160
Interest accrual	19		90		165		6		280
Benefit payments	(51)		(78)		(421)		(6)		(556)

Other (including foreign exchange)	(6)		(32)		(127)		3		(162)
Ending balance at original discount rate	2,684		11,524		15,775		812		30,795
Effect of changes in discount rate assumptions	(416)		905		155		45		689
Balance – end of period	$	2,268	$	12,429	$	15,930	$	857	$	31,484


Liability for Future Policy Benefits	March 31, 2025

(in millions of U.S. dollars, except for years)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	723	$	8,006	$	4,041	$	581	$	13,351
Deferred profit liability	291		1,351		202		64		1,908
Net liability for future policy benefits, before reinsurance recoverable	1,014		9,357		4,243		645		15,259
Less: Reinsurance recoverable on future policy benefits	108		45		114		—		267
Net liability for future policy benefits, after reinsurance recoverable	$	906	$	9,312	$	4,129	$	645	$	14,992
Weighted average duration (years)	10.5		27.9		9.9		23.5		21.8

The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.


	March 31
(in millions of U.S. dollars)	2026		2025
Net liability for future policy benefits	$	14,755	$	13,351
Other (1)	1,614		1,431
Deferred profit liability	2,904		1,908
Liability for future policy benefits, per consolidated balance sheet	$	19,273	$	16,690

(1)Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.

The following table presents the amount of undiscounted and discounted expected gross premiums and expected future policy benefit payments included in the Life Insurance segment:


	March 31		March 31
(in millions of U.S. dollars)	2026		2025

Term Life
Undiscounted expected future benefit payments	$	4,636	$	4,266
Undiscounted expected future gross premiums	6,838		6,595
Discounted expected future benefit payments	2,331		2,268
Discounted expected future gross premiums	4,609		4,460
Whole Life
Undiscounted expected future benefit payments	33,780		29,099
Undiscounted expected future gross premiums	11,052		10,390
Discounted expected future benefit payments	14,167		12,429
Discounted expected future gross premiums	9,213		8,518
A&H
Undiscounted expected future benefit payments	26,758		26,695
Undiscounted expected future gross premiums	39,618		39,108
Discounted expected future benefit payments	15,471		15,930
Discounted expected future gross premiums	23,867		23,346
Other
Undiscounted expected future benefit payments	2,530		1,556
Undiscounted expected future gross premiums	851		478
Discounted expected future benefit payments	1,320		857
Discounted expected future gross premiums	798		437

The following table presents the amount of revenue and interest recognized in the Consolidated statements of operations for the Life insurance segment:


	Gross Premiums or Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2026		2025		2026		2025

Term Life	$	186	$	170	$	6	$	5

Whole Life	954		563		76		58
A&H	802		752		32		32
Other	176		89		5		4


Total	$	2,118	$	1,574	$	119	$	99

The following table presents the weighted-average interest rates for the Life Insurance segment:


	Interest Accretion Rate				Current Discount Rate

	March 31				March 31
	2026		2025		2026		2025

Term Life	3.2	%	3.0	%	6.1	%	5.6	%

Whole Life	3.6	%	3.5	%	4.4	%	4.0	%
A&H	4.3	%	4.1	%	6.1	%	5.7	%
Other	3.3	%	3.2	%	3.7	%	3.6	%

Policyholders' account balances, Separate accounts, and Unearned revenue liabilities

3 Months Ended

Mar. 31, 2026

Policyholder Account Balance [Abstract]

Policyholders' Account Balances, Separate Accounts, and Unearned Revenue Liability

Policyholders' account balances, Separate accounts, and Unearned revenue liabilities

Policyholders' account balances

The following tables present a roll-forward of policyholders' account balances:


	Three Months Ended March 31, 2026
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,899	$	2,801	$	2,531	$	7,231


Premiums received	61		80		246		387
Policy charges (1)	(23)		—		(2)		(25)
Surrenders and withdrawals	(33)		(8)		(50)		(91)
Benefit payments (2)	(95)		(69)		(16)		(180)

Interest credited	12		13		18		43
Other (including foreign exchange)	10		79		(37)		52
Balance – end of period	$	1,831	$	2,896	$	2,690	$	7,417
Unearned revenue liability							762
Other (3)							603
Policyholders' account liability, per consolidated balance sheet							$	8,782

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.


	Three Months Ended March 31, 2025
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,809	$	2,585	$	2,354	$	6,748

Premiums received	53		101		94		248
Policy charges (1)	(29)		—		(2)		(31)
Surrenders and withdrawals	(29)		(9)		(51)		(89)
Benefit payments (2)	(17)		(48)		(22)		(87)

Interest credited	12		10		16		38
Other (including foreign exchange)	13		5		(1)		17
Balance – end of period	$	1,812	$	2,644	$	2,388	$	6,844
Unearned revenue liability							719
Other (3)							566
Policyholders' account liability, per consolidated balance sheet							$	8,129

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.



	March 31
	2026								2025
(in millions of U.S. dollars, except for percentages)	Universal Life			Annuities (3)		Other			Universal Life			Annuities (3)		Other
Weighted-average crediting rate (1)	3.4		%	N/A		3.1		%	3.5		%	N/A		3.4		%
Net amount at risk (2)	$	10,753		$	64	$	336		$	12,079		$	—	$	407
Cash Surrender Value	$	1,705		$	1,928	$	2,381		$	1,659		$	1,728	$	2,095

(1)Calculated using actual interest credited for the three months ended March 31, 2026 and 2025, respectively.

(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

(3)Annuities do not have an explicit account balance, therefore a crediting rate is not applicable.

The following tables present the balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimum:

Universal Life


	March 31, 2026
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	—	$	35	$	16	$	217	$	268
2.01% – 4.00%	444		289		340		—		1,073
Greater than 4.00%	18		—		—		—		18
Fixed rate or no guarantee									472
Total	$	462	$	324	$	356	$	217	$	1,831


	March 31, 2025
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	3	$	—	$	47	$	123	$	173
2.01% – 4.00%	245		589		355		—		1,189
Greater than 4.00%	12		—		—		—		12
Fixed rate or no guarantee									438
Total	$	260	$	589	$	402	$	123	$	1,812

Other policyholders' account balances


	March 31, 2026
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	2	$	66	$	38	$	59	$	165
2.01% – 4.00%	1,148		53		—		—		1,201
Greater than 4.00%	—		—		—		—		—
Fixed rate or no guarantee									1,324
Total	$	1,150	$	119	$	38	$	59	$	2,690


	March 31, 2025
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	6	$	5	$	130	$	25	$	166
2.01% – 4.00%	1,017		51		—		—		1,068
Greater than 4.00%	—		—		—		—		—
Fixed rate or no guarantee									1,154
Total	$	1,023	$	56	$	130	$	25	$	2,388

Separate accounts

Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. The assets that support variable contracts are measured at fair value and are reported as Separate account assets and corresponding liabilities are reported within Separate account liabilities on the Consolidated balance sheets. Policy charges assessed against the policyholders for mortality, administration, and other services are included in Net premiums earned on the Consolidated statements of operations.

The following table presents the aggregate fair value of Separate account assets, by major security type:


	March 31		March 31
(in millions of U.S. dollars)	2026		2025
Cash and cash equivalents	$	156	$	131

Mutual funds	6,493		6,081

Fixed maturities	69		73

Total	$	6,718	$	6,285

The following table presents a roll-forward of separate account liabilities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	6,925	$	6,231

Premiums and deposits	367		490
Policy charges	(44)		(33)
Surrenders and withdrawals	(337)		(243)
Benefit payments	(125)		(113)
Investment performance	23		5

Other (including foreign exchange)	(91)		(52)
Balance – end of period	$	6,718	$	6,285
Cash surrender value (1)	$	6,239	$	5,898

(1)Cash surrender value represents the amount of the policyholder's account balances distributable at the balance sheet date less certain surrender charges.

Unearned revenue liabilities

Unearned revenue liabilities represent policy charges for services to be provided in future periods. The charges are reflected as deferred revenue and are generally amortized into income over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	758	$	711
Deferred revenue	30		34
Amortization	(20)		(18)

Other (including foreign exchange)	(6)		(8)
Balance – end of period	$	762	$	719

Market risk benefits

Our reinsurance programs covering variable annuity guarantees, comprising guaranteed living benefits (GLB) and guaranteed minimum death benefits (GMDB), meet the definition of Market risk benefits (MRB). The following table presents a roll-forward of MRB:


	Three Months Ended March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	659	$	607
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	636		592



Interest rate changes	(11)		46
Effect of market movements (1)	42		52
Effect of changes in volatilities	2		16
Actual policyholder behavior different from expected behavior	(4)		16


Effect of timing and all other	(34)		(25)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	631	$	697
Effect of changes in the instrument-specific credit risk	11		11
Balance – end of period	$	642	$	708
Weighted-average age of policyholders (years)	74		74
Net amount at risk (2)	$	1,403	$	1,654

(1) Market movements are predominantly driven by changes in equities.

(2) 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, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.

Excluded from the table above are MRB gains of $10 million and $14 million for the three months ended March 31, 2026 and 2025, respectively, reported in the Consolidated statements of operations, relating to the market risk benefits' economic hedge and other net cash flows. There is no reinsurance recoverable associated with our liability for MRB.

For MRB, Chubb estimates fair value using an internal valuation model which includes 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. All reinsurance treaties contain claim limits, which are also factored into the valuation model.

Valuation Technique

Significant Unobservable Inputs

March 31, 2026

March 31, 2025

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

0.5% – 27.3%

3.1

%

0.5% – 27.3%

3.2

%

Annuitization rate

0% – 100%

5.1

%

0% – 100%

4.8

%

(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

The most significant policyholder behavior assumptions include lapse rates for MRBs, and GLB annuitization rates. Assumptions regarding lapse rates and GLB 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.

The GLB annuitization rate is the percentage of policies for which the policyholder will elect to annuitize using the guaranteed benefit provided under the GLB. All else equal, as GLB annuitization rates increase, ultimate claim payments will increase, subject to treaty claim limits.

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. 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. For detailed information on our lapse and annuitization rate assumptions, refer to Note 11 to the Consolidated Financial Statements of our 2025 Form 10-K.

Market risk benefits

3 Months Ended

Mar. 31, 2026

Market Risk Benefit [Abstract]

Market Risk Benefits

Policyholders' account balances, Separate accounts, and Unearned revenue liabilities

Policyholders' account balances

The following tables present a roll-forward of policyholders' account balances:


	Three Months Ended March 31, 2026
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,899	$	2,801	$	2,531	$	7,231


Premiums received	61		80		246		387
Policy charges (1)	(23)		—		(2)		(25)
Surrenders and withdrawals	(33)		(8)		(50)		(91)
Benefit payments (2)	(95)		(69)		(16)		(180)

Interest credited	12		13		18		43
Other (including foreign exchange)	10		79		(37)		52
Balance – end of period	$	1,831	$	2,896	$	2,690	$	7,417
Unearned revenue liability							762
Other (3)							603
Policyholders' account liability, per consolidated balance sheet							$	8,782

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.


	Three Months Ended March 31, 2025
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,809	$	2,585	$	2,354	$	6,748

Premiums received	53		101		94		248
Policy charges (1)	(29)		—		(2)		(31)
Surrenders and withdrawals	(29)		(9)		(51)		(89)
Benefit payments (2)	(17)		(48)		(22)		(87)

Interest credited	12		10		16		38
Other (including foreign exchange)	13		5		(1)		17
Balance – end of period	$	1,812	$	2,644	$	2,388	$	6,844
Unearned revenue liability							719
Other (3)							566
Policyholders' account liability, per consolidated balance sheet							$	8,129

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.



	March 31
	2026								2025
(in millions of U.S. dollars, except for percentages)	Universal Life			Annuities (3)		Other			Universal Life			Annuities (3)		Other
Weighted-average crediting rate (1)	3.4		%	N/A		3.1		%	3.5		%	N/A		3.4		%
Net amount at risk (2)	$	10,753		$	64	$	336		$	12,079		$	—	$	407
Cash Surrender Value	$	1,705		$	1,928	$	2,381		$	1,659		$	1,728	$	2,095

(1)Calculated using actual interest credited for the three months ended March 31, 2026 and 2025, respectively.

(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

(3)Annuities do not have an explicit account balance, therefore a crediting rate is not applicable.

The following tables present the balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimum:

Universal Life


	March 31, 2026
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	—	$	35	$	16	$	217	$	268
2.01% – 4.00%	444		289		340		—		1,073
Greater than 4.00%	18		—		—		—		18
Fixed rate or no guarantee									472
Total	$	462	$	324	$	356	$	217	$	1,831


	March 31, 2025
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	3	$	—	$	47	$	123	$	173
2.01% – 4.00%	245		589		355		—		1,189
Greater than 4.00%	12		—		—		—		12
Fixed rate or no guarantee									438
Total	$	260	$	589	$	402	$	123	$	1,812

Other policyholders' account balances


	March 31, 2026
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	2	$	66	$	38	$	59	$	165
2.01% – 4.00%	1,148		53		—		—		1,201
Greater than 4.00%	—		—		—		—		—
Fixed rate or no guarantee									1,324
Total	$	1,150	$	119	$	38	$	59	$	2,690


	March 31, 2025
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	6	$	5	$	130	$	25	$	166
2.01% – 4.00%	1,017		51		—		—		1,068
Greater than 4.00%	—		—		—		—		—
Fixed rate or no guarantee									1,154
Total	$	1,023	$	56	$	130	$	25	$	2,388

Separate accounts

Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. The assets that support variable contracts are measured at fair value and are reported as Separate account assets and corresponding liabilities are reported within Separate account liabilities on the Consolidated balance sheets. Policy charges assessed against the policyholders for mortality, administration, and other services are included in Net premiums earned on the Consolidated statements of operations.

The following table presents the aggregate fair value of Separate account assets, by major security type:


	March 31		March 31
(in millions of U.S. dollars)	2026		2025
Cash and cash equivalents	$	156	$	131

Mutual funds	6,493		6,081

Fixed maturities	69		73

Total	$	6,718	$	6,285

The following table presents a roll-forward of separate account liabilities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	6,925	$	6,231

Premiums and deposits	367		490
Policy charges	(44)		(33)
Surrenders and withdrawals	(337)		(243)
Benefit payments	(125)		(113)
Investment performance	23		5

Other (including foreign exchange)	(91)		(52)
Balance – end of period	$	6,718	$	6,285
Cash surrender value (1)	$	6,239	$	5,898

(1)Cash surrender value represents the amount of the policyholder's account balances distributable at the balance sheet date less certain surrender charges.

Unearned revenue liabilities

Unearned revenue liabilities represent policy charges for services to be provided in future periods. The charges are reflected as deferred revenue and are generally amortized into income over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	758	$	711
Deferred revenue	30		34
Amortization	(20)		(18)

Other (including foreign exchange)	(6)		(8)
Balance – end of period	$	762	$	719

Market risk benefits

Our reinsurance programs covering variable annuity guarantees, comprising guaranteed living benefits (GLB) and guaranteed minimum death benefits (GMDB), meet the definition of Market risk benefits (MRB). The following table presents a roll-forward of MRB:


	Three Months Ended March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	659	$	607
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	636		592



Interest rate changes	(11)		46
Effect of market movements (1)	42		52
Effect of changes in volatilities	2		16
Actual policyholder behavior different from expected behavior	(4)		16


Effect of timing and all other	(34)		(25)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	631	$	697
Effect of changes in the instrument-specific credit risk	11		11
Balance – end of period	$	642	$	708
Weighted-average age of policyholders (years)	74		74
Net amount at risk (2)	$	1,403	$	1,654

(1) Market movements are predominantly driven by changes in equities.

(2) 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, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.

Excluded from the table above are MRB gains of $10 million and $14 million for the three months ended March 31, 2026 and 2025, respectively, reported in the Consolidated statements of operations, relating to the market risk benefits' economic hedge and other net cash flows. There is no reinsurance recoverable associated with our liability for MRB.

For MRB, Chubb estimates fair value using an internal valuation model which includes 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. All reinsurance treaties contain claim limits, which are also factored into the valuation model.

Valuation Technique

Significant Unobservable Inputs

March 31, 2026

March 31, 2025

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

0.5% – 27.3%

3.1

%

0.5% – 27.3%

3.2

%

Annuitization rate

0% – 100%

5.1

%

0% – 100%

4.8

%

(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

The most significant policyholder behavior assumptions include lapse rates for MRBs, and GLB annuitization rates. Assumptions regarding lapse rates and GLB 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.

The GLB annuitization rate is the percentage of policies for which the policyholder will elect to annuitize using the guaranteed benefit provided under the GLB. All else equal, as GLB annuitization rates increase, ultimate claim payments will increase, subject to treaty claim limits.

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. 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. For detailed information on our lapse and annuitization rate assumptions, refer to Note 11 to the Consolidated Financial Statements of our 2025 Form 10-K.

Debt	3 Months Ended
Debt	Mar. 31, 2026
Debt Disclosure [Abstract]
Debt Disclosure	Debt On March 17, 2026, Chubb INA Holdings LLC (Chubb INA) issued CHF 200 million (approximately $254 million based on the foreign exchange rate at the date of issuance) aggregate principal amount of 1.02 percent senior unsecured notes due March 2032. These notes are guaranteed by Chubb Limited.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
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-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Commitments and Contingencies Disclosure [Abstract]

Commitments, contingencies, and guarantees

3 Months Ended

Mar. 31, 2026

Commitments, contingencies, and guarantees

a) Derivative instruments

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, and exchange-traded equity futures contracts on equity market indices to limit equity exposure in the market risk benefit (MRB) book of business. Derivative instruments are principally recorded in either Other assets (OA) or Accounts payable, accrued expenses, and other liabilities (AP) in the Consolidated balance sheets. Convertible securities are recorded in Fixed maturities available-for-sale (FM AFS). In addition, Chubb, from time to time, purchases to be announced mortgage-backed securities (TBAs) as part of its investing activities.

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. Some of Chubb's derivatives satisfy hedge accounting requirements, as discussed below. We also consider economic hedging for planned cross border transactions.

The following table presents the balance sheet location, fair value in an asset or (liability) position, and notional value/payment provision of our derivative instruments:


				March 31, 2026								December 31, 2025
	Consolidated Balance Sheet Location	Fair Value				Notional Amount/ Payment Provision			Fair Value					Notional Amount/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)				Derivative Asset			Derivative (Liability)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contracts	OA / (AP)	$	20	$	(337)	$	4,519		$	18		$	(230)	$	4,912
Options/Futures/Forward contracts on notes and bonds	OA / (AP)	13		(21)		1,508			4			(12)		1,216
Convertible securities (1)	FM AFS	4		—		3			6			—		5
Total		$	37	$	(358)	$	6,030		$	28		$	(242)	$	6,133
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	18	$	—	$	807		$	3		$	—	$	943
Other	OA / (AP)	10		—		242			8			(4)		334
Total		$	28	$	—	$	1,049		$	11		$	(4)	$	1,277
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	155	$	(2)	$	2,090		$	198		$	—	$	2,046
Cross-currency swaps - net investment hedges	OA / (AP)	110		(78)		3,891			68			(232)		2,995
Total		$	265	$	(80)	$	5,981		$	266		$	(232)	$	5,041

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

At March 31, 2026, and December 31, 2025, net derivative liabilities of $112 million and $179 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) Hedge accounting

We designate certain derivatives as fair value hedges and net investment hedges for accounting purposes to hedge foreign currency exposure associated with portions of our euro denominated debt and the net investment in certain foreign subsidiaries, respectively. These derivatives comprise cross-currency swaps, which are agreements under which two counterparties exchange interest payments and principal denominated in different currencies at a future date. These hedges have been and are expected to be highly effective.

(i) Fair value hedges

Cross-currency swaps

Chubb holds certain cross-currency swaps designated as fair value hedges. The objective of these cross-currency swaps is to hedge the foreign currency risk on €1.7 billion, or approximately $2.0 billion at March 31, 2026, of euro denominated debt by converting cash flows back into the U.S. dollar.

These hedges are carried at fair value, with changes in fair value recorded in Other comprehensive income (OCI). The gains or losses on the fair value hedges offsetting the foreign currency remeasurement on the hedged euro denominated senior notes are reclassified from OCI into Net realized gains (losses), and an additional portion is reclassified into Interest expense as follows:


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2026		2025
Gain (loss) recognized in OCI	$	(43)	$	(26)
Net realized gain (loss) reclassified from OCI	(34)		69
Interest expense reclassified from OCI	(5)		(4)
OCI gain (loss) after reclassifications	$	(4)	$	(91)

(ii) Net investment hedges

Cross-currency swaps

Chubb holds certain cross-currency swaps designated as net investment hedges. The objective of these cross-currency swaps is to hedge the foreign currency exposure in the net investments of certain foreign subsidiaries by converting cash flows from U.S. dollar to the British pound sterling, Japanese yen, Swiss franc, Chinese yuan renminbi, and Korean won. The hedged risk is designated as the foreign currency exposure arising between the functional currency of the foreign subsidiary and the functional currency of its parent entity.

These net investment hedges are carried at fair value, with changes in fair value recorded in Cumulative translation adjustments (CTA) within OCI, and a portion reclassified to Interest expense. The mark-to-market adjustments for foreign currency changes will remain in CTA until the underlying hedge subsidiary is deconsolidated or hedge accounting is discontinued.

In March 2026, in connection with the issuance of Swiss franc (CHF) 200 million senior unsecured notes and related designation as a net investment hedge, Chubb terminated its Swiss franc cross-currency swap with a notional amount of CHF95.8 million, originally maturing in March 2038. This termination resulted in a $42 million loss, which will remain in CTA until the underlying hedged subsidiary is deconsolidated.

Foreign denominated debt

Chubb designated the following foreign denominated debt as non-derivative net investment hedges:

•Chinese yuan renminbi term loans, $578 million at March 31, 2026

•Chinese yuan renminbi bonds, $652 million at March 31, 2026

•Swiss franc senior unsecured notes, issued in Q1 2026, $256 million at March 31, 2026

These non-derivative net investment hedges mitigate the foreign currency exposure in the net investments of certain foreign subsidiaries. Changes in the carrying value of the debt attributable to foreign currency revaluation are recorded in CTA within OCI. These adjustments will remain in CTA until the underlying hedged subsidiary is deconsolidated or hedge accounting is discontinued.

The following table presents the OCI impact of derivative and non-derivative net investment hedges:


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2026		2025
Cross-currency swaps:
Gain (loss) recognized in OCI	$	58	$	24
Interest income reclassified from OCI	9		8
Total cross currency swaps	49		16
Foreign denominated debt:
Gain (loss) recognized in OCI	(33)		—
Total OCI gain (loss) after reclassifications	$	16	$	16

c) Derivative instruments not designated as hedges

Derivative instruments which are not designated as hedges are carried at fair value with changes in fair value recorded in Net realized gains (losses) or, for futures contracts on equities related to the MRB book of business, in Market risk benefits gains (losses) in the Consolidated statements of operations. The following table presents net gains (losses) related to derivative instrument activity in the Consolidated statements of operations:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(108)	$	(14)

Options/Futures/Forward contracts on notes and bonds	(7)		(9)

Total investment and embedded derivative instruments	$	(115)	$	(23)
Other derivative instruments:
Futures contracts on equities (1)	$	45	$	54
Other	(9)		(3)
Total other derivative instruments	$	36	$	51
Total	$	(79)	$	28

(1)Related to MRB book of business.

(i) Foreign currency exposure management

A foreign currency forward contract (forward) is an agreement between participants to exchange specific 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 market risk benefit reserves.

Forwards

A fixed income forward contract (forward) is an agreement between participants to exchange a specific instrument at a fixed price at a future date. Chubb uses forwards to mitigate reinvestment risk of future written premiums.

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, level of interest rates, 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.

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, from time to time, 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 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 a fixed maturity security. Chubb purchases convertible securities for their total return and not specifically for the conversion feature.

(iv) TBA

By acquiring to be announced mortgage-backed securities (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, from time to time, both for their total return and for the flexibility they provide related to our mortgage-backed security strategy.

(v) Futures contracts on equities

Under the MRB 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. We may recognize a loss for 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). 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 MRB liability and the exchange-traded equity futures are included in Market risk benefits gains (losses) in the Consolidated statements of operations.

d) 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:


	Remaining contractual maturity
	March 31, 2026		December 31, 2025
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	896	$	1,332
U.S. and local government securities	419		234
Non-U.S.	752		768
Corporate and asset-backed securities	66		62

Equity securities	144		104
Total	$	2,277	$	2,500
Gross amount of recognized liability for securities lending payable	$	2,277	$	2,500

At March 31, 2026, and December 31, 2025, our repurchase agreement obligations of $3,736 million and $3,324 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 or Other investments, 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:


	Remaining contractual maturity
	March 31, 2026						December 31, 2025
	Up to 30 Days		30-90 Days		Total			Up to 30 Days		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:

Non-U.S.	$	1,920	$	—	$	1,920		$	—	$	129	$	—	$	129
U.S. and local government securities	22		117		139			1,496		—		—		1,496

Mortgage-backed securities	1,007		859		1,866			980		904		9		1,893
Total	$	2,949	$	976	$	3,925		$	2,476	$	1,033	$	9	$	3,518
Repurchase agreements					$	2,753								$	2,368
Repurchase agreements - VIEs					983									956
Gross amount of recognized liabilities for repurchase agreements					$	3,736								$	3,324
Difference (1)					$	189								$	194

(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.

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.

e) Private equities

Private equities in the Consolidated balance sheets are investments in limited partnerships and partially-owned investment companies. At March 31, 2026, private equities with a carrying value of $16.8 billion had commitments that could require funding of up to $7.3 billion over the next several years. At December 31, 2025, these investments had a carrying value of $16.9 billion with commitments of up to $7.2 billion. The remaining private equities had no funding commitments.

f) 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.

g) Lease commitments

At March 31, 2026, and December 31, 2025, the right-of-use asset was $1,001 million and $1,025 million, respectively, recorded within Other assets, and the lease liability was $1,231 million and $1,214 million, respectively, recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheets. 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.

Shareholders' equity

3 Months Ended

Mar. 31, 2026

Stockholders' Equity Note [Abstract]

Shareholders' equity

Shareholders’ equity

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, dividends, including distributions from legal reserves or through a reduction in par value (par value reduction), must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At March 31, 2026, our Common Shares had a par value of CHF 0.50 per share.

At our May 2025 and 2024 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.88 per share and $3.64 per share, respectively, which were paid in four quarterly installments of $0.97 and $0.91 per share, respectively, at dates determined by the Board of Directors (Board) after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):


	Three Months Ended
	March 31
	2026			2025
	CHF	USD		CHF	USD
Total dividend distributions per common share	0.75	$	0.97	0.81	$	0.91

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, purchases under the Employee Stock Purchase Plan (ESPP), and share cancellations.

On March 10, 2026, Chubb completed a share capital reduction by means of cancellation of 11,986,574 Common Shares purchased under our share repurchase program during 2025. The capital reduction was completed in accordance with the capital band provision for authorized share capital increases and reductions by the Board set forth in the Articles of Association. On March 7, 2025, Chubb completed a share capital reduction by means of cancellation of 7,518,565 Common Shares purchased under our share repurchase program during 2024. The capital reduction was completed in accordance with the capital band provision for authorized share capital increases and reductions by the Board set forth in the Articles of Association. During the three months ended March 31, 2026, 3,517,810 shares were repurchased, 11,986,574 shares were canceled, and 912,163 net shares were issued under employee share-based compensation plans. At March 31, 2026, 11,625,267 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations

In June 2023, the Board authorized the repurchase of up to $5.0 billion of Chubb Common Shares, effective July 1, 2023, with no expiration date. In May 2025, the Board determined to terminate the June 2023 authorization as of June 30, 2025 and concurrently authorized a new repurchase amount of up to $5.0 billion of Chubb Common Shares, effective July 1, 2025, with no expiration date. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:


	Three Months Ended				April 1, 2026 through April 27, 2026
	March 31
(in millions of U.S. dollars, except share data)	2026		2025
Number of shares repurchased	3,517,810		1,345,782			1,029,374
Cost of shares repurchased	$	1,143	$	385		$	340
Repurchase authorization remaining at end of period	$	1,520	$	1,300		$	1,182

The following table presents changes in accumulated other comprehensive income (loss):


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(1,997)	$	(4,552)
Change in period, before reclassification from AOCI (before tax)	(1,939)		843
Amounts reclassified from AOCI (before tax)	113		58
Change in period, before tax	(1,826)		901
Income tax (expense) benefit	210		(61)
Total other comprehensive income (loss)	(1,616)		840
Noncontrolling interests, net of tax	(2)		(8)
Balance – end of period, net of tax	(3,611)		(3,704)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(344)		(539)
Change in period, before tax	386		(122)
Income tax (expense) benefit	(61)		12
Total other comprehensive income (loss)	325		(110)
Noncontrolling interests, net of tax	8		(4)
Balance – end of period, net of tax	(27)		(645)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(23)		(16)
Change in period, before tax	12		4
Income tax expense	(2)		(1)
Total other comprehensive income	10		3
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	(13)		(13)


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Accumulated other comprehensive income (loss) (AOCI) - continued
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(3,135)		(4,025)
Change in period, before reclassification from AOCI (before tax)	537		367
Amounts reclassified from AOCI (before tax)	(9)		(8)
Change in period, before tax	528		359
Income tax expense	(6)		(12)
Total other comprehensive income	522		347
Noncontrolling interests, net of tax	165		7
Balance – end of period, net of tax	(2,778)		(3,685)
Fair value hedging instruments
Balance – beginning of period, net of tax	(58)		50
Change in period, before reclassification from AOCI (before tax)	(43)		(26)
Amounts reclassified from AOCI (before tax)	39		(65)
Change in period, before tax	(4)		(91)
Income tax benefit	1		19
Total other comprehensive loss	(3)		(72)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	(61)		(22)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	582		438
Change in period, before tax	(2)		(4)
Income tax expense	(1)		—
Total other comprehensive loss	(3)		(4)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	579		434
Accumulated other comprehensive loss	$	(5,911)	$	(7,635)

The following table presents reclassifications from accumulated other comprehensive income (loss) to the Consolidated statements of operations:


	Three Months Ended				Consolidated Statement of Operations Location
	March 31
(in millions of U.S. dollars)	2026		2025
Fixed maturities available-for-sale	$	(113)	$	(58)		Net realized gains (losses)
Income tax benefit	18		25			Income tax expense
	$	(95)	$	(33)		Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	9	$	8		Interest expense
Income tax expense	(2)		(2)			Income tax expense
	$	7	$	6		Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(34)	$	69		Net realized gains (losses)
Cross-currency swaps	(5)		(4)			Interest expense
Income tax (expense) benefit	8		(14)			Income tax expense
	$	(31)	$	51		Net income
Total amounts reclassified from AOCI	$	(119)	$	24

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Compensation and Employee Benefit Plans [Text Block]

Share-based compensation	3 Months Ended
Share-based compensation	Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation The Chubb Limited 2016 Long-Term Incentive Plan, as amended and restated (the Amended 2016 LTIP), permits grants of both incentive and non-qualified stock options principally 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 typically vest in equal annual installments over the respective vesting period, which is also the requisite service period. On March 2, 2026, Chubb granted 1,070,510 stock options with a weighted-average grant date fair value of $87.84 each. The fair value of the options issued is estimated on the grant date using the Black-Scholes option pricing model. The Amended 2016 LTIP also permits grants of service-based restricted stock and restricted stock units as well as performance shares and performance stock units. Under the Chubb Deferred Stock Unit Plan, a sub-plan of the Amended 2016 LTIP, eligible participants may defer vested performance stock units and restricted stock units to the extent such awards are U.S.-allocated compensation. Chubb generally grants service-based restricted stock and restricted stock units with a 4-year vesting period, based on a graded vesting schedule. Performance shares and performance stock units granted comprise both target and premium awards that cliff vest at the end of a 3-year performance period based on tangible book value (Chubb shareholders' equity less goodwill and intangible assets attributable to Chubb, net of tax) per share growth and P&C combined ratio compared to a defined group of peer companies. Premium awards are subject to an additional vesting provision based on total shareholder return compared to the peer group. Stock and unit awards are principally granted at market close price on the grant date. On March 2, 2026, Chubb granted 102,036 service-based restricted stock, 670,919 service-based restricted stock units, 90,078 performance shares, and 251,832 performance stock units to employees and officers with a grant date fair value of $342.76 each. Each service-based restricted stock unit and performance stock unit represents our obligation to deliver to the holder one Common Share upon vesting (or the end of the deferral period, if the unit is under the Chubb Deferred Stock Unit Plan).

Postretirement benefits

3 Months Ended

Mar. 31, 2026

Retirement Benefits [Abstract]

Postretirement benefits

The components of net pension and other postretirement benefit costs (benefits) reflected in Net income in the Consolidated statements of operations were as follows:


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2026				2025				2026		2025
Three Months Ended March 31	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	2	$	—	$	2	$	—	$	—
Non-service cost (benefit):
Interest cost	31		9		34		9		—		—
Expected return on plan assets	(68)		(16)		(63)		(13)		—		—
Amortization of net actuarial (gain) loss	(3)		—		(2)		—		—		(1)
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(40)		(7)		(31)		(4)		—		(1)
Net periodic benefit cost (benefit)	$	(40)	$	(5)	$	(31)	$	(2)	$	—	$	(1)

The line items in which the service cost and non-service cost (benefit) components of net periodic cost (benefit) are included in the Consolidated statements of operations were as follows:


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended March 31	2026		2025		2026		2025
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		2		—		—
Total service cost	2		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(4)		(3)		—		—
Administrative expenses	(43)		(32)		—		(1)
Total non-service cost (benefit)	(47)		(35)		—		(1)
Net periodic benefit cost (benefit)	$	(45)	$	(33)	$	—	$	(1)

Other Income and Expense

3 Months Ended

Mar. 31, 2026

Other Income and Expenses [Abstract]

Other Income and Expense Disclosure

Other income and expense


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Equity in net income (loss) of partially-owned entities	$	157	$	82
Gains (losses) from fair value changes in separate account assets	(12)		(10)
Asset management and performance fee revenue	70		56
Asset management and performance fee expense	(40)		(33)
Federal excise and capital taxes	(13)		(5)
Other	(1)		(7)
Total	$	161	$	83

Equity in net income of partially-owned entities includes our share of net income or loss, both underlying operating income and mark-to-market movement, related to partially-owned investment companies (private equity) where we own more than three percent, and partially-owned insurance companies. This line item includes mark-to-market gains (losses) on private equities of $27 million and $(27) million for the three months ended March 31, 2026 and 2025, respectively.

Also included in Other income and expense are gains (losses) from fair value changes in separate account assets that do not qualify for separate account treatment under U.S. GAAP. The offsetting movement in the separate account liabilities is included in Policy benefits in the Consolidated statements of operations.

Asset management and performance fee revenue and expense primarily relate to the management of third-party assets by Huatai's asset management business, which is unrelated to Huatai Group's core insurance operations. These revenues and expenses are recognized in the period in which the services are performed and, for certain asset performance fees, to the extent it is probable that a significant reversal will not occur.

Certain federal excise and capital taxes incurred as a result of capital management initiatives are included in Other income and expense as these are considered capital transactions and are excluded from underwriting results. Bad debt expense for uncollectible premiums is also included in Other income and expense.

Segment information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

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.

Segment performance is reviewed by the Chief Executive Officer of Chubb Ltd, our Chief Operating Decision Maker (CODM). The CODM is ultimately responsible for evaluating the performance of our six business segments, making strategic operating decisions, and allocating resources. The financial results of our operations are reported in a manner consistent with results reviewed by the CODM in reviewing and assessing the performance of our six business segments. Excluding our Life Insurance segment, the CODM uses Underwriting income (loss) as a basis for 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. For both our P&C and Life Insurance segments, another measure of segment performance is Segment income (loss). Segment income (loss) includes Underwriting income (loss), Net investment income (loss), amortization of purchased intangibles acquired by the segment, 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. 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.

Revenue and expenses managed at the corporate level, including Net realized gains (losses), Market risk benefits gains (losses), Interest expense, Integration expenses and severance, Income tax expense, and Net income (loss) attributable to noncontrolling interests are reported within Corporate. Integration expenses and severance are one-time costs that are directly attributable to third-party consulting fees, employee-related retention costs, and other professional and legal fees, as well as severance

expenses incurred as part of transformation initiatives to enhance operational efficiency. These items are not 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 CODM does not manage segment results or allocate resources to segments when considering these costs, and therefore Integration expenses and severance are excluded from our definition of Segment income (loss).

Certain items are presented in a different manner for segment reporting purposes than in the Consolidated Financial Statements, including:

•Losses and loss expenses include realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in commodity pricing impacts underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations, and therefore, realized gains (losses) from these derivatives are reclassified to losses and loss expenses.

•Policy benefits include fair value changes on separate accounts that do not qualify for separate accounting under U.S. GAAP. These gains and losses have been reclassified from Other (income) expense to Policy benefits. Policy benefits also include the impact of realized gains and losses on investment portfolios supporting certain participating policies. These realized gains and losses have been reclassified from net realized gains (losses) to policy benefits. This presentation better reflects the gains and losses from fair value changes in separate account assets and liabilities, and the economics of the participating policies by connecting the investment performance that is shared with policyholders to the liability.

•Net investment income includes investment income reclassified from Other (income) expense related to partially-owned investment companies (private equity partnerships) where our ownership interest is in excess of three percent. We view investment income from these equity-method private equity partnerships as Net investment income for segment reporting purposes.

The following tables present the Statement of Operations by segment:


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

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


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

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

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

Underwriting assets are reviewed in total by management for purposes of decision-making. Other than certain insurance related balances, Goodwill and Other intangible assets, Chubb does not allocate assets to its segments.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Investments, Debt and Equity Securities [Abstract]

Earnings per share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Earnings per share


	Three Months Ended
	March 31
(in millions of U.S. dollars, except share and per share data)	2026		2025
Numerator:
Net income	$	2,347	$	1,343
Net income (loss) attributable to noncontrolling interests	27		12
Net income attributable to Chubb	$	2,320	$	1,331
Denominator:
Denominator for basic earnings per share attributable to Chubb:
Weighted-average shares outstanding	390,485,934		400,681,956
Denominator for diluted earnings per share attributable to Chubb:
Share-based compensation plans	4,113,570		3,992,395
Weighted-average shares outstanding and assumed conversions	394,599,504		404,674,351
Basic earnings per share attributable to Chubb	$	5.94	$	3.32
Diluted earnings per share attributable to Chubb	$	5.88	$	3.29
Potential anti-dilutive share conversions	1,142,124		1,268,531

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods. These securities consisted of stock options in which the underlying exercise prices were greater than the average market prices of our Common Shares. Refer to Note 16 to the Consolidated Financial Statements of our 2025 Form 10-K for additional information on stock options.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General and significant accounting policies (Policies)	3 Months Ended
General and significant accounting policies (Policies)	Mar. 31, 2026
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 18 for additional information. The interim unaudited Consolidated Financial Statements include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These interim unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. 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 have been eliminated. The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our 2025 Form 10-K
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements Accounting guidance not yet adopted Disaggregation of Income Statement Expenses In November 2024, the FASB issued guidance that requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our 2027 annual reporting, and interim reporting periods beginning in 2028. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.

Fair value measurements (Fair Value Measurement Policy) (Policies)	3 Months Ended
	Mar. 31, 2026
Fair Value Disclosures [Abstract]
Fair Value Measurement, Policy	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: •Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets; •Level 2 – Includes, among other items, inputs other than quoted prices that are observable for the asset or liability such as 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 •Level 3 – Inputs that are unobservable and reflect management’s judgments about assumptions that market participants would use in pricing an asset or liability.

Investments (Tables)

3 Months Ended

Mar. 31, 2026

Schedule Of Amortized Cost and Fair Value of Available-for-sale Securities


March 31, 2026	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. and local government securities	$	3,915	$	—	$	17	$	(235)	$	3,697
Non-U.S.	41,543		(12)		396		(1,345)		40,582
Corporate and asset-backed securities	49,466		(38)		367		(1,963)		47,832
Mortgage-backed securities	32,377		—		240		(1,295)		31,322

	$	127,301	$	(50)	$	1,020	$	(4,838)	$	123,433


December 31, 2025	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. and local government securities	$	3,908	$	—	$	27	$	(221)	$	3,714
Non-U.S.	40,479		(10)		795		(908)		40,356
Corporate and asset-backed securities	48,806		(42)		734		(1,612)		47,886
Mortgage-backed securities	31,533		—		398		(1,207)		30,724

	$	124,726	$	(52)	$	1,954	$	(3,948)	$	122,680

Schedule Of Fixed Maturities By Contractual Maturity

The following table presents fixed maturities by contractual maturity:


	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available-for-sale
Due in 1 year or less	$	4,553	$	4,553	$	4,749	$	4,749
Due after 1 year through 5 years	36,333		36,333		35,611		35,611
Due after 5 years through 10 years	31,062		31,062		31,514		31,514
Due after 10 years	20,163		20,163		20,082		20,082
	92,111		92,111		91,956		91,956
Mortgage-backed securities	31,322		31,322		30,724		30,724
	$	123,433	$	123,433	$	122,680	$	122,680

Unrealized Gain (Loss) on Investments

The following tables present, for available-for-sale (AFS) fixed maturities in an unrealized loss position (including securities on loan) that are not deemed to have expected credit losses, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:


	0 – 12 Months				Over 12 Months				Total
March 31, 2026	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. and local government securities	$	743	$	(9)	$	1,983	$	(226)	$	2,726	$	(235)
Non-U.S.	14,685		(468)		8,352		(750)		23,037		(1,218)
Corporate and asset-backed securities	14,841		(237)		9,626		(1,088)		24,467		(1,325)
Mortgage-backed securities	6,046		(62)		10,007		(1,233)		16,053		(1,295)

Total AFS fixed maturities	$	36,315	$	(776)	$	29,968	$	(3,297)	$	66,283	$	(4,073)


	0 – 12 Months				Over 12 Months				Total
December 31, 2025	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. and local government securities	$	307	$	(3)	$	2,139	$	(216)	$	2,446	$	(219)
Non-U.S.	6,664		(163)		8,995		(622)		15,659		(785)
Corporate and asset-backed securities	4,136		(59)		10,225		(867)		14,361		(926)
Mortgage-backed securities	1,467		(12)		11,016		(1,194)		12,483		(1,206)

Total AFS fixed maturities	$	12,574	$	(237)	$	32,375	$	(2,899)	$	44,949	$	(3,136)

Debt Securities, Available-for-sale, Allowance for Credit Loss

The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	52	$	70


Provision for expected credit loss	19		21



Recovery of expected credit loss	(21)		(28)
Valuation allowance for expected credit losses - end of period	$	50	$	63
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	3	$	4

Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	2	$	3

Private debt held-for-investment, allowance for credit loss

The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	52	$	70


Provision for expected credit loss	19		21



Recovery of expected credit loss	(21)		(28)
Valuation allowance for expected credit losses - end of period	$	50	$	63
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	3	$	4

Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	2	$	3

Schedule of Realized Gain (Loss)

The following table presents the components of net realized gains (losses):


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Fixed maturities:
Gross realized gains	$	40	$	38
Gross realized losses	(124)		(96)
Other investments - Fixed maturities (includes $(20) million and $(53) million related to investments measured under the fair value option)	(8)		(40)
Net recovery of expected credit losses	3		8
Impairment (1)	(32)		(7)
Total fixed maturities	(121)		(97)
Equity securities (includes $(67) million and $53 million related to investments measured under the fair value option)	(149)		63
Private equities (less than 3 percent ownership)	16		11
Foreign exchange	(8)		(65)
Investment and embedded derivative instruments	(115)		(23)
Other derivative instruments	(9)		(3)
Other	(21)		(2)
Net realized gains (losses) (pre-tax)	$	(407)	$	(116)

(1)Relates to certain securities we intend to sell and securities written to market entering default.

Gain (Loss) on Securities

Realized gains and losses from Equity securities, Other investments and Private equities from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:


											Three Months Ended
													March 31
							2026								2025
(in millions of U.S. dollars)	Equity Securities		Other Investments		Private Equities		Total		Equity Securities		Other Investments		Private Equities		Total
Net gains (losses) recognized during the period	$	(149)	$	(8)	$	16	$	(141)	$	63	$	(40)	$	11	$	34
Less: Net gains (losses) recognized from sales of securities	94		—		—		94		(12)		1		—		(11)
Unrealized gains (losses) recognized for securities still held at reporting date	$	(243)	$	(8)	$	16	$	(235)	$	75	$	(41)	$	11	$	45

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share


	Expected Liquidation Period of Underlying Assets	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,270	$	443	$	1,420	$	483
Real assets	2 to 13 Years	1,901		1,104		1,924		1,111
Distressed	2 to 8 Years	1,198		1,231		1,226		977
Private credit	3 to 8 Years	301		292		299		302
Traditional	2 to 14 Years	12,081		4,209		11,990		4,345
Vintage	1 to 3 Years	33		—		43		—
Investment funds	Not Applicable	348		—		337		—
		$	17,132	$	7,279	$	17,239	$	7,218

Schedule Of Components Of Restricted Assets

The following table presents the components of restricted assets:


	March 31		December 31
(in millions of U.S. dollars)	2026		2025
Trust funds	$	8,519	$	8,461
Assets pledged under repurchase agreements	3,925		3,518
Deposits with U.S. regulatory authorities	2,566		2,598

Deposits with non-U.S. regulatory authorities and other	4,566		4,669

Total	$	19,576	$	19,246

Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Financial Instruments Measured At Fair Value On A Recurring Basis

Financial instruments measured at fair value on a recurring basis, by valuation hierarchy


March 31, 2026	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. and local government securities	$	1,487	$	2,210	$	—	$	3,697
Non-U.S.	—		39,893		689		40,582
Corporate and asset-backed securities	—		44,296		3,536		47,832
Mortgage-backed securities	—		31,322		—		31,322

	1,487		117,721		4,225		123,433
Equity securities (1)	5,343		—		121		5,464
Short-term investments	2,591		2,465		11		5,067
Other investments (2)	664		9,073		—		9,737
Securities lending collateral	—		2,277		—		2,277
Investment derivatives	33		—		—		33
Derivatives designated as hedging instruments	—		265		—		265
Other derivative instruments	28		—		—		28
Separate account assets	6,649		69		—		6,718
Total assets measured at fair value (1)(2)(3)	$	16,795	$	131,870	$	4,357	$	153,022
Liabilities:
Investment derivatives	$	358	$	—	$	—	$	358
Derivatives designated as hedging instruments	—		80		—		80

Market risk benefits (4)	—		—		642		642
Total liabilities measured at fair value	$	358	$	80	$	642	$	1,080

(1)Excluded from the table above are funds of $5,452 million, measured using NAV as a practical expedient.

(2)Excluded from the table above are other investments of $1,433 million, principally policy loans, measured using NAV as a practical expedient.

(3)Excluded from the table above are private equities of $17,132 million, measured using NAV as a practical expedient.

(4)Refer to Note 11 for additional information on Market risk benefits.


December 31, 2025	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. and local government securities	$	1,481	$	2,233	$	—	$	3,714
Non-U.S.	—		39,685		671		40,356
Corporate and asset-backed securities	—		44,340		3,546		47,886
Mortgage-backed securities	—		30,724		—		30,724

	1,481		116,982		4,217		122,680
Equity securities (1)	5,163		—		119		5,282
Short-term investments	2,657		2,138		45		4,840
Other investments (2)	630		8,684		—		9,314
Securities lending collateral	—		2,500		—		2,500
Investment derivatives	22		—		—		22
Derivatives designated as hedging instruments	—		266		—		266
Other derivative instruments	11		—		—		11
Separate account assets	6,858		67		—		6,925
Total assets measured at fair value (1)(2)(3)	$	16,822	$	130,637	$	4,381	$	151,840
Liabilities:
Investment derivatives	$	242	$	—	$	—	$	242
Derivatives designated as hedging instruments	—		232		—		232
Other derivative instruments	—		4		—		4
Market risk benefits (4)	—		—		659		659
Total liabilities measured at fair value	$	242	$	236	$	659	$	1,137

(1)Excluded from the table above are funds of $5,519 million, measured using NAV as a practical expedient.

(2)Excluded from the table above are other investments of $1,435 million, principally policy loans, measured using NAV as a practical expedient.

(3)Excluded from the table above are private equities of $17,239 million, measured using NAV as a practical expedient.

(4)Refer to Note 11 for additional information on Market risk benefits.

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). Excluded from the tables below is the reconciliation of Market risk benefits, refer to Note 11 for additional information.


Three Months Ended March 31, 2026 (in millions of U.S. dollars)		Available-for-Sale Debt Securities					Equity securities			Short-term investments
	Non-U.S.			Corporate and asset- backed securities

Balance, beginning of period		$	671		$	3,546		$	119		$	45
Transfers into Level 3		2			1			—			—
Transfers out of Level 3		—			(17)			—			—
Change in Net Unrealized Gains (Losses) in OCI		(10)			(14)			—			(2)
Net Realized Gains (Losses)		—			(7)			—			—

Purchases		76			111			6			8
Sales		(30)			(1)			(4)			—
Settlements		(20)			(83)			—			(40)

Balance, end of period		$	689		$	3,536		$	121		$	11
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	(3)		$	—		$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	(10)		$	(18)		$	—		$	(1)


Three Months Ended March 31, 2025 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	604		$	2,891		$	3	$	120	$	14
Transfers into Level 3		1			24			—		—		—
Transfers out of Level 3		—			(1)			—		—		—
Change in Net Unrealized Gains (Losses) in OCI		20			(4)			—		—		—
Net Realized Gains (Losses)		(6)			(2)			(2)		(5)		—

Purchases		60			219			1		7		5
Sales		(53)			(47)			(2)		(9)		—
Settlements		(39)			(63)			—		—		(1)

Balance, end of period		$	587		$	3,017		$	—	$	113	$	18
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	(1)		$	(3)		$	—	$	5	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	14		$	(10)		$	—	$	—	$	—

Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value

The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:


March 31, 2026	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,515	$	2,515	$	2,477
Total assets	$	—	$	—	$	2,515	$	2,515	$	2,477
Liabilities:
Repurchase agreements	$	—	$	3,736	$	—	$	3,736	$	3,736
Short-term debt	—		1,499		—		1,499		1,500
Long-term debt	—		14,038		590		14,628		15,970
Hybrid debt	—		480		—		480		425
Total liabilities	$	—	$	19,753	$	590	$	20,343	$	21,631


December 31, 2025	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,445	$	2,445	$	2,411
Total assets	$	—	$	—	$	2,445	$	2,445	$	2,411
Liabilities:
Repurchase agreements	$	—	$	3,324	$	—	$	3,324	$	3,324
Short-term debt	—		1,498		—		1,498		1,499
Long-term debt	—		14,045		576		14,621		15,728
Hybrid debt	—		484		—		484		422
Total liabilities	$	—	$	19,351	$	576	$	19,927	$	20,973

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

schedule of reinsurance recoverable on ceded insurance

Reinsurance (Tables)

3 Months Ended

Mar. 31, 2026

Reinsurance Disclosures [Abstract]


	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	18,253	$	256	$	18,346	$	248
Reinsurance recoverable on paid losses and loss expenses	1,906		64		1,992		72
Reinsurance recoverable on losses and loss expenses	$	20,159	$	320	$	20,338	$	320
Reinsurance recoverable on policy benefits	$	295	$	—	$	286	$	—

(1)Net of valuation allowance for uncollectible reinsurance.

Reinsurance Recoverable, Allowance for Credit Loss [Table Text Block]

The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on losses and loss expenses:


	Three Months Ended
			March 31
(in millions of U.S. dollars)	2026		2025
Valuation allowance for uncollectible reinsurance - beginning of period	$	320	$	310
Provision for uncollectible reinsurance	8		11
Write-offs charged against the valuation allowance	(9)		(2)
Foreign exchange revaluation	1		1

Valuation allowance for uncollectible reinsurance - end of period	$	320	$	320

Deferred acquisition costs (Tables)

3 Months Ended

Mar. 31, 2026

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

The following tables present a roll-forward of deferred policy acquisition costs on long-duration contracts included in the Life Insurance segment:


	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	567	$	746	$	1,296	$	2,136	$	392	$	5,137
Capitalizations	64		26		139		197		52		478
Amortization expense	(41)		(21)		(18)		(71)		(9)		(160)

Other (including foreign exchange)	5		(7)		(1)		(2)		1		(4)
Balance – end of Period	$	595	$	744	$	1,416	$	2,260	$	436	$	5,451
Overseas General Insurance segment excluded from table											713
Total deferred policy acquisition costs on long-duration contracts											$	6,164
Deferred policy acquisition costs on short-duration contracts											4,288
Total deferred policy acquisition costs											$	10,452


	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	469	$	722	$	870	$	1,681	$	324	$	4,066
Capitalizations	58		38		109		170		40		415
Amortization expense	(36)		(20)		(12)		(54)		(7)		(129)

Other (including foreign exchange)	4		(8)		(4)		(16)		(2)		(26)
Balance – end of period	$	495	$	732	$	963	$	1,781	$	355	$	4,326
Overseas General Insurance segment excluded from table											608
Total deferred policy acquisition costs on long-duration contracts											$	4,934
Deferred policy acquisition costs on short-duration contracts											3,841
Total deferred policy acquisition costs											$	8,775

Goodwill (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill roll-forward by business segment

The following table presents a roll-forward of Goodwill by segment:


(in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Chubb Consolidated
Balance at December 31, 2025	$	7,191	$	2,226	$	134	$	5,530	$	371	$	4,755	$	20,207
Measurement-period adjustments	—		—		—		(7)		—		—		(7)

Foreign exchange revaluation	9		3		—		77		—		81		170
Balance at March 31, 2026 (1)	$	7,200	$	2,229	$	134	$	5,600	$	371	$	4,836	$	20,370

(1)Includes $420 million attributable to noncontrolling interests.

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Unpaid losses and loss expenses, and Future policy benefits (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Unpaid Losses And Loss Expenses Roll Forward [Table Text Block]

The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025

Gross unpaid losses and loss expenses – beginning of period	$	88,018	$	84,004
Reinsurance recoverable on unpaid losses and loss expenses – beginning of period (1)	(18,346)		(17,734)
Net unpaid losses and loss expenses – beginning of period	69,672		66,270
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	6,419		7,133
Prior years (2)	(288)		(237)
Total	6,131		6,896
Net losses and loss expenses paid in respect of losses occurring in:
Current year	1,191		1,305
Prior years	4,140		4,699
Total	5,331		6,004
Foreign currency revaluation and other	190		228
Net unpaid losses and loss expenses – end of period	70,662		67,390
Reinsurance recoverable on unpaid losses and loss expenses (1)	18,253		18,081
Gross unpaid losses and loss expenses – end of period	$	88,915	$	85,471

(1) Net of valuation allowance for uncollectible reinsurance.

(2) Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $2 million and $(18) million for the three months ended March 31, 2026 and 2025, respectively.

Prior Period Development, by Segment [Table Text Block]

The following table summarizes (favorable) and adverse PPD by segment:


	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail		Short-tail		Total
2026
North America Commercial P&C Insurance	$	21	$	(110)	$	(89)
North America Personal P&C Insurance	—		(1)		(1)
North America Agricultural Insurance	—		(80)		(80)
Overseas General Insurance	—		(131)		(131)
Global Reinsurance	—		—		—
Corporate	15		—		15
Total	$	36	$	(322)	$	(286)
2025
North America Commercial P&C Insurance	$	49	$	(163)	$	(114)
North America Personal P&C Insurance	—		—		—
North America Agricultural Insurance	—		(33)		(33)
Overseas General Insurance	1		(122)		(121)
Global Reinsurance	(5)		5		—
Corporate	13		—		13
Total	$	58	$	(313)	$	(255)

Liability for Future Policy Benefit, Activity

The following tables present a roll-forward of the liability for future policy benefits included in the Life Insurance segment:


Present Value of Expected Net Premiums	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,544	$	4,749	$	11,688	$	426	$	18,407
Beginning balance at original discount rate	1,814		4,616		11,665		423		18,518
Effect of changes in cash flow assumptions	—		—		—		—		—
Effect of actual variances from expected experience	2		53		(187)		4		(128)
Adjusted beginning of period balance	1,816		4,669		11,478		427		18,390
Issuances	70		495		609		234		1,408
Interest accrual	15		36		138		3		192
Net premiums collected (1)	(62)		(565)		(390)		(122)		(1,139)

Other (including foreign exchange)	10		27		87		8		132
Ending balance at original discount rate	1,849		4,662		11,922		550		18,983
Effect of changes in discount rate assumptions	(282)		81		(250)		2		(449)
Balance – end of period	$	1,567	$	4,743	$	11,672	$	552	$	18,534

(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,313	$	13,791	$	15,587	$	1,084	$	32,775
Beginning balance at original discount rate	2,715		13,133		15,645		1,058		32,551
Effect of changes in cash flow assumptions	—		—		—		—		—
Effect of actual variances from expected experience	9		55		(194)		4		(126)
Adjusted beginning of period balance	2,724		13,188		15,451		1,062		32,425
Issuances	70		495		609		234		1,408
Interest accrual	21		112		170		8		311
Benefit payments	(56)		(87)		(422)		(7)		(572)

Other (including foreign exchange)	8		123		63		21		215
Ending balance at original discount rate	2,767		13,831		15,871		1,318		33,787
Effect of changes in discount rate assumptions	(436)		336		(400)		2		(498)
Balance – end of period	$	2,331	$	14,167	$	15,471	$	1,320	$	33,289


Liability for Future Policy Benefits	March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	764	$	9,424	$	3,799	$	768	$	14,755
Deferred profit liability	323		2,210		243		128		2,904
Net liability for future policy benefits, before reinsurance recoverable	1,087		11,634		4,042		896		17,659
Less: Reinsurance recoverable on future policy benefits	110		48		125		1		284
Net liability for future policy benefits, after reinsurance recoverable	$	977	$	11,586	$	3,917	$	895	$	17,375
Weighted average duration (years)	11.1		25.8		10.0		27.2		21.4


Present Value of Expected Net Premiums	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,523	$	4,405	$	11,626	$	125	$	17,679
Beginning balance at original discount rate	1,819		4,303		11,499		124		17,745
Effect of changes in cash flow assumptions	—		(4)		(5)		—		(9)
Effect of actual variances from expected experience	7		23		(93)		—		(63)
Adjusted beginning of period balance	1,826		4,322		11,401		124		17,673
Issuances	65		288		599		208		1,160
Interest accrual	14		32		133		2		181
Net premiums collected (1)	(59)		(311)		(370)		(61)		(801)

Other (including foreign exchange)	(6)		(19)		(86)		2		(109)
Ending balance at original discount rate	1,840		4,312		11,677		275		18,104
Effect of changes in discount rate assumptions	(295)		111		212		1		29
Balance – end of period	$	1,545	$	4,423	$	11,889	$	276	$	18,133

(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,238	$	12,057	$	15,693	$	647	$	30,635
Beginning balance at original discount rate	2,647		11,242		15,652		601		30,142
Effect of changes in cash flow assumptions	—		(10)		2		—		(8)
Effect of actual variances from expected experience	10		24		(95)		—		(61)
Adjusted beginning of period balance	2,657		11,256		15,559		601		30,073
Issuances	65		288		599		208		1,160
Interest accrual	19		90		165		6		280
Benefit payments	(51)		(78)		(421)		(6)		(556)

Other (including foreign exchange)	(6)		(32)		(127)		3		(162)
Ending balance at original discount rate	2,684		11,524		15,775		812		30,795
Effect of changes in discount rate assumptions	(416)		905		155		45		689
Balance – end of period	$	2,268	$	12,429	$	15,930	$	857	$	31,484


Liability for Future Policy Benefits	March 31, 2025

(in millions of U.S. dollars, except for years)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	723	$	8,006	$	4,041	$	581	$	13,351
Deferred profit liability	291		1,351		202		64		1,908
Net liability for future policy benefits, before reinsurance recoverable	1,014		9,357		4,243		645		15,259
Less: Reinsurance recoverable on future policy benefits	108		45		114		—		267
Net liability for future policy benefits, after reinsurance recoverable	$	906	$	9,312	$	4,129	$	645	$	14,992
Weighted average duration (years)	10.5		27.9		9.9		23.5		21.8

The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.


	March 31
(in millions of U.S. dollars)	2026		2025
Net liability for future policy benefits	$	14,755	$	13,351
Other (1)	1,614		1,431
Deferred profit liability	2,904		1,908
Liability for future policy benefits, per consolidated balance sheet	$	19,273	$	16,690

(1)Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.

The following table presents the amount of undiscounted and discounted expected gross premiums and expected future policy benefit payments included in the Life Insurance segment:


	March 31		March 31
(in millions of U.S. dollars)	2026		2025

Term Life
Undiscounted expected future benefit payments	$	4,636	$	4,266
Undiscounted expected future gross premiums	6,838		6,595
Discounted expected future benefit payments	2,331		2,268
Discounted expected future gross premiums	4,609		4,460
Whole Life
Undiscounted expected future benefit payments	33,780		29,099
Undiscounted expected future gross premiums	11,052		10,390
Discounted expected future benefit payments	14,167		12,429
Discounted expected future gross premiums	9,213		8,518
A&H
Undiscounted expected future benefit payments	26,758		26,695
Undiscounted expected future gross premiums	39,618		39,108
Discounted expected future benefit payments	15,471		15,930
Discounted expected future gross premiums	23,867		23,346
Other
Undiscounted expected future benefit payments	2,530		1,556
Undiscounted expected future gross premiums	851		478
Discounted expected future benefit payments	1,320		857
Discounted expected future gross premiums	798		437

The following table presents the amount of revenue and interest recognized in the Consolidated statements of operations for the Life insurance segment:


	Gross Premiums or Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2026		2025		2026		2025

Term Life	$	186	$	170	$	6	$	5

Whole Life	954		563		76		58
A&H	802		752		32		32
Other	176		89		5		4


Total	$	2,118	$	1,574	$	119	$	99

The following table presents the weighted-average interest rates for the Life Insurance segment:


	Interest Accretion Rate				Current Discount Rate

	March 31				March 31
	2026		2025		2026		2025

Term Life	3.2	%	3.0	%	6.1	%	5.6	%

Whole Life	3.6	%	3.5	%	4.4	%	4.0	%
A&H	4.3	%	4.1	%	6.1	%	5.7	%
Other	3.3	%	3.2	%	3.7	%	3.6	%

Policyholders' account balances, Separate accounts, and Unearned revenue liabilities (Tables)

3 Months Ended

Mar. 31, 2026

Policyholder Account Balance [Abstract]

Policyholder Account Balances

Policyholders' account balances

The following tables present a roll-forward of policyholders' account balances:


	Three Months Ended March 31, 2026
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,899	$	2,801	$	2,531	$	7,231


Premiums received	61		80		246		387
Policy charges (1)	(23)		—		(2)		(25)
Surrenders and withdrawals	(33)		(8)		(50)		(91)
Benefit payments (2)	(95)		(69)		(16)		(180)

Interest credited	12		13		18		43
Other (including foreign exchange)	10		79		(37)		52
Balance – end of period	$	1,831	$	2,896	$	2,690	$	7,417
Unearned revenue liability							762
Other (3)							603
Policyholders' account liability, per consolidated balance sheet							$	8,782

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.


	Three Months Ended March 31, 2025
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,809	$	2,585	$	2,354	$	6,748

Premiums received	53		101		94		248
Policy charges (1)	(29)		—		(2)		(31)
Surrenders and withdrawals	(29)		(9)		(51)		(89)
Benefit payments (2)	(17)		(48)		(22)		(87)

Interest credited	12		10		16		38
Other (including foreign exchange)	13		5		(1)		17
Balance – end of period	$	1,812	$	2,644	$	2,388	$	6,844
Unearned revenue liability							719
Other (3)							566
Policyholders' account liability, per consolidated balance sheet							$	8,129

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.



	March 31
	2026								2025
(in millions of U.S. dollars, except for percentages)	Universal Life			Annuities (3)		Other			Universal Life			Annuities (3)		Other
Weighted-average crediting rate (1)	3.4		%	N/A		3.1		%	3.5		%	N/A		3.4		%
Net amount at risk (2)	$	10,753		$	64	$	336		$	12,079		$	—	$	407
Cash Surrender Value	$	1,705		$	1,928	$	2,381		$	1,659		$	1,728	$	2,095

(1)Calculated using actual interest credited for the three months ended March 31, 2026 and 2025, respectively.

(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

(3)Annuities do not have an explicit account balance, therefore a crediting rate is not applicable.

Policyholder Account Balance, Guaranteed Minimum Crediting Rates

The following tables present the balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimum:

Universal Life


	March 31, 2026
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	—	$	35	$	16	$	217	$	268
2.01% – 4.00%	444		289		340		—		1,073
Greater than 4.00%	18		—		—		—		18
Fixed rate or no guarantee									472
Total	$	462	$	324	$	356	$	217	$	1,831


	March 31, 2025
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	3	$	—	$	47	$	123	$	173
2.01% – 4.00%	245		589		355		—		1,189
Greater than 4.00%	12		—		—		—		12
Fixed rate or no guarantee									438
Total	$	260	$	589	$	402	$	123	$	1,812

Other policyholders' account balances


	March 31, 2026
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	2	$	66	$	38	$	59	$	165
2.01% – 4.00%	1,148		53		—		—		1,201
Greater than 4.00%	—		—		—		—		—
Fixed rate or no guarantee									1,324
Total	$	1,150	$	119	$	38	$	59	$	2,690


	March 31, 2025
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	6	$	5	$	130	$	25	$	166
2.01% – 4.00%	1,017		51		—		—		1,068
Greater than 4.00%	—		—		—		—		—
Fixed rate or no guarantee									1,154
Total	$	1,023	$	56	$	130	$	25	$	2,388

Fair Value, Separate Account Investment

The following table presents the aggregate fair value of Separate account assets, by major security type:


	March 31		March 31
(in millions of U.S. dollars)	2026		2025
Cash and cash equivalents	$	156	$	131

Mutual funds	6,493		6,081

Fixed maturities	69		73

Total	$	6,718	$	6,285

Separate Account, Liability

The following table presents a roll-forward of separate account liabilities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	6,925	$	6,231

Premiums and deposits	367		490
Policy charges	(44)		(33)
Surrenders and withdrawals	(337)		(243)
Benefit payments	(125)		(113)
Investment performance	23		5

Other (including foreign exchange)	(91)		(52)
Balance – end of period	$	6,718	$	6,285
Cash surrender value (1)	$	6,239	$	5,898

(1)Cash surrender value represents the amount of the policyholder's account balances distributable at the balance sheet date less certain surrender charges.

Unearned revenue liabilities

The following table presents a roll-forward of unearned revenue liabilities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	758	$	711
Deferred revenue	30		34
Amortization	(20)		(18)

Other (including foreign exchange)	(6)		(8)
Balance – end of period	$	762	$	719

Market risk benefits (Tables)

3 Months Ended

Mar. 31, 2026

Market Risk Benefit [Abstract]

Market Risk Benefit, Activity

The following table presents a roll-forward of MRB:


	Three Months Ended March 31
(in millions of U.S. dollars)	2026		2025
Balance – beginning of period	$	659	$	607
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	636		592



Interest rate changes	(11)		46
Effect of market movements (1)	42		52
Effect of changes in volatilities	2		16
Actual policyholder behavior different from expected behavior	(4)		16


Effect of timing and all other	(34)		(25)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	631	$	697
Effect of changes in the instrument-specific credit risk	11		11
Balance – end of period	$	642	$	708
Weighted-average age of policyholders (years)	74		74
Net amount at risk (2)	$	1,403	$	1,654

(1) Market movements are predominantly driven by changes in equities.

(2) 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, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.

Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations

For MRB, Chubb estimates fair value using an internal valuation model which includes 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. All reinsurance treaties contain claim limits, which are also factored into the valuation model.

Valuation Technique

Significant Unobservable Inputs

March 31, 2026

March 31, 2025

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

0.5% – 27.3%

3.1

%

0.5% – 27.3%

3.2

%

Annuitization rate

0% – 100%

5.1

%

0% – 100%

4.8

%

(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

Commitments, contingencies, and guarantees (Tables)

3 Months Ended

Mar. 31, 2026

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 location, fair value in an asset or (liability) position, and notional value/payment provision of our derivative instruments:


				March 31, 2026								December 31, 2025
	Consolidated Balance Sheet Location	Fair Value				Notional Amount/ Payment Provision			Fair Value					Notional Amount/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)				Derivative Asset			Derivative (Liability)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contracts	OA / (AP)	$	20	$	(337)	$	4,519		$	18		$	(230)	$	4,912
Options/Futures/Forward contracts on notes and bonds	OA / (AP)	13		(21)		1,508			4			(12)		1,216
Convertible securities (1)	FM AFS	4		—		3			6			—		5
Total		$	37	$	(358)	$	6,030		$	28		$	(242)	$	6,133
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	18	$	—	$	807		$	3		$	—	$	943
Other	OA / (AP)	10		—		242			8			(4)		334
Total		$	28	$	—	$	1,049		$	11		$	(4)	$	1,277
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	155	$	(2)	$	2,090		$	198		$	—	$	2,046
Cross-currency swaps - net investment hedges	OA / (AP)	110		(78)		3,891			68			(232)		2,995
Total		$	265	$	(80)	$	5,981		$	266		$	(232)	$	5,041

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2026		2025
Gain (loss) recognized in OCI	$	(43)	$	(26)
Net realized gain (loss) reclassified from OCI	(34)		69
Interest expense reclassified from OCI	(5)		(4)
OCI gain (loss) after reclassifications	$	(4)	$	(91)

Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location

The following table presents the OCI impact of derivative and non-derivative net investment hedges:


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2026		2025
Cross-currency swaps:
Gain (loss) recognized in OCI	$	58	$	24
Interest income reclassified from OCI	9		8
Total cross currency swaps	49		16
Foreign denominated debt:
Gain (loss) recognized in OCI	(33)		—
Total OCI gain (loss) after reclassifications	$	16	$	16

Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations

The following table presents net gains (losses) related to derivative instrument activity in the Consolidated statements of operations:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(108)	$	(14)

Options/Futures/Forward contracts on notes and bonds	(7)		(9)

Total investment and embedded derivative instruments	$	(115)	$	(23)
Other derivative instruments:
Futures contracts on equities (1)	$	45	$	54
Other	(9)		(3)
Total other derivative instruments	$	36	$	51
Total	$	(79)	$	28

(1)Related to MRB book of business.

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

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:


	Remaining contractual maturity
	March 31, 2026		December 31, 2025
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	896	$	1,332
U.S. and local government securities	419		234
Non-U.S.	752		768
Corporate and asset-backed securities	66		62

Equity securities	144		104
Total	$	2,277	$	2,500
Gross amount of recognized liability for securities lending payable	$	2,277	$	2,500

The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:


	Remaining contractual maturity
	March 31, 2026						December 31, 2025
	Up to 30 Days		30-90 Days		Total			Up to 30 Days		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:

Non-U.S.	$	1,920	$	—	$	1,920		$	—	$	129	$	—	$	129
U.S. and local government securities	22		117		139			1,496		—		—		1,496

Mortgage-backed securities	1,007		859		1,866			980		904		9		1,893
Total	$	2,949	$	976	$	3,925		$	2,476	$	1,033	$	9	$	3,518
Repurchase agreements					$	2,753								$	2,368
Repurchase agreements - VIEs					983									956
Gross amount of recognized liabilities for repurchase agreements					$	3,736								$	3,324
Difference (1)					$	189								$	194

(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2026

Stockholders' Equity Note [Abstract]

Dividends Declared

The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):


	Three Months Ended
	March 31
	2026			2025
	CHF	USD		CHF	USD
Total dividend distributions per common share	0.75	$	0.97	0.81	$	0.91

Share Repurchase Program [Table Text Block]

Chubb Limited securities repurchase authorizations

In June 2023, the Board authorized the repurchase of up to $5.0 billion of Chubb Common Shares, effective July 1, 2023, with no expiration date. In May 2025, the Board determined to terminate the June 2023 authorization as of June 30, 2025 and concurrently authorized a new repurchase amount of up to $5.0 billion of Chubb Common Shares, effective July 1, 2025, with no expiration date. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:


	Three Months Ended				April 1, 2026 through April 27, 2026
	March 31
(in millions of U.S. dollars, except share data)	2026		2025
Number of shares repurchased	3,517,810		1,345,782			1,029,374
Cost of shares repurchased	$	1,143	$	385		$	340
Repurchase authorization remaining at end of period	$	1,520	$	1,300		$	1,182

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss):


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(1,997)	$	(4,552)
Change in period, before reclassification from AOCI (before tax)	(1,939)		843
Amounts reclassified from AOCI (before tax)	113		58
Change in period, before tax	(1,826)		901
Income tax (expense) benefit	210		(61)
Total other comprehensive income (loss)	(1,616)		840
Noncontrolling interests, net of tax	(2)		(8)
Balance – end of period, net of tax	(3,611)		(3,704)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(344)		(539)
Change in period, before tax	386		(122)
Income tax (expense) benefit	(61)		12
Total other comprehensive income (loss)	325		(110)
Noncontrolling interests, net of tax	8		(4)
Balance – end of period, net of tax	(27)		(645)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(23)		(16)
Change in period, before tax	12		4
Income tax expense	(2)		(1)
Total other comprehensive income	10		3
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	(13)		(13)


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Accumulated other comprehensive income (loss) (AOCI) - continued
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(3,135)		(4,025)
Change in period, before reclassification from AOCI (before tax)	537		367
Amounts reclassified from AOCI (before tax)	(9)		(8)
Change in period, before tax	528		359
Income tax expense	(6)		(12)
Total other comprehensive income	522		347
Noncontrolling interests, net of tax	165		7
Balance – end of period, net of tax	(2,778)		(3,685)
Fair value hedging instruments
Balance – beginning of period, net of tax	(58)		50
Change in period, before reclassification from AOCI (before tax)	(43)		(26)
Amounts reclassified from AOCI (before tax)	39		(65)
Change in period, before tax	(4)		(91)
Income tax benefit	1		19
Total other comprehensive loss	(3)		(72)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	(61)		(22)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	582		438
Change in period, before tax	(2)		(4)
Income tax expense	(1)		—
Total other comprehensive loss	(3)		(4)
Noncontrolling interests, net of tax	—		—
Balance – end of period, net of tax	579		434
Accumulated other comprehensive loss	$	(5,911)	$	(7,635)

Reclassification out of Accumulated Other Comprehensive Income

The following table presents reclassifications from accumulated other comprehensive income (loss) to the Consolidated statements of operations:


	Three Months Ended				Consolidated Statement of Operations Location
	March 31
(in millions of U.S. dollars)	2026		2025
Fixed maturities available-for-sale	$	(113)	$	(58)		Net realized gains (losses)
Income tax benefit	18		25			Income tax expense
	$	(95)	$	(33)		Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	9	$	8		Interest expense
Income tax expense	(2)		(2)			Income tax expense
	$	7	$	6		Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(34)	$	69		Net realized gains (losses)
Cross-currency swaps	(5)		(4)			Interest expense
Income tax (expense) benefit	8		(14)			Income tax expense
	$	(31)	$	51		Net income
Total amounts reclassified from AOCI	$	(119)	$	24

Postretirement benefits (Tables)

3 Months Ended

Mar. 31, 2026

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

Postretirement benefits

The components of net pension and other postretirement benefit costs (benefits) reflected in Net income in the Consolidated statements of operations were as follows:


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2026				2025				2026		2025
Three Months Ended March 31	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	2	$	—	$	2	$	—	$	—
Non-service cost (benefit):
Interest cost	31		9		34		9		—		—
Expected return on plan assets	(68)		(16)		(63)		(13)		—		—
Amortization of net actuarial (gain) loss	(3)		—		(2)		—		—		(1)
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(40)		(7)		(31)		(4)		—		(1)
Net periodic benefit cost (benefit)	$	(40)	$	(5)	$	(31)	$	(2)	$	—	$	(1)

The line items in which the service cost and non-service cost (benefit) components of net periodic cost (benefit) are included in the Consolidated statements of operations were as follows:


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended March 31	2026		2025		2026		2025
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		2		—		—
Total service cost	2		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(4)		(3)		—		—
Administrative expenses	(43)		(32)		—		(1)
Total non-service cost (benefit)	(47)		(35)		—		(1)
Net periodic benefit cost (benefit)	$	(45)	$	(33)	$	—	$	(1)

Other Income and Expense (Tables)

3 Months Ended

Mar. 31, 2026

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Equity in net income (loss) of partially-owned entities	$	157	$	82
Gains (losses) from fair value changes in separate account assets	(12)		(10)
Asset management and performance fee revenue	70		56
Asset management and performance fee expense	(40)		(33)
Federal excise and capital taxes	(13)		(5)
Other	(1)		(7)
Total	$	161	$	83

Segment information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:


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

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


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

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

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

Earnings per share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended
	March 31
(in millions of U.S. dollars, except share and per share data)	2026		2025
Numerator:
Net income	$	2,347	$	1,343
Net income (loss) attributable to noncontrolling interests	27		12
Net income attributable to Chubb	$	2,320	$	1,331
Denominator:
Denominator for basic earnings per share attributable to Chubb:
Weighted-average shares outstanding	390,485,934		400,681,956
Denominator for diluted earnings per share attributable to Chubb:
Share-based compensation plans	4,113,570		3,992,395
Weighted-average shares outstanding and assumed conversions	394,599,504		404,674,351
Basic earnings per share attributable to Chubb	$	5.94	$	3.32
Diluted earnings per share attributable to Chubb	$	5.88	$	3.29
Potential anti-dilutive share conversions	1,142,124		1,268,531

Acquisitions (Narrative) (Details)	3 Months Ended
Acquisitions (Narrative) (Details)	Mar. 31, 2026
Liberty Insurance, Vietnam [Member]
Business Combination [Line Items]
Business Combination, Effective Date of Acquisition	Feb. 02, 2026

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Investments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Investments [Line Items]
Restricted assets in fixed maturities and short-term investments	$ 19,373	$ 19,048
Restricted assets in cash	203	198
Equity securities	10,916	10,801
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure	89	70
Investments
Investments [Line Items]
Deferred Tax Assets, Valuation Allowance	336
Reserved alternative investment fund
Investments [Line Items]
Equity securities	$ 5,300	$ 5,400

Investments (Schedule Of Amortized Cost and Fair Value of Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 127,301	$ 124,726
Debt Securities, Available-for-sale, Allowance for Credit Loss	(50)	(52)	$ (63)	$ (70)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1,020	1,954
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(4,838)	(3,948)
Available for sale, Fair Value	123,433	122,680
U.S. and local government securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3,915	3,908
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	17	27
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(235)	(221)
Available for sale, Fair Value	3,697	3,714
Non-U.S.
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	41,543	40,479
Debt Securities, Available-for-sale, Allowance for Credit Loss	(12)	(10)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	396	795
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,345)	(908)
Available for sale, Fair Value	40,582	40,356
Corporate and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	49,466	48,806
Debt Securities, Available-for-sale, Allowance for Credit Loss	(38)	(42)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	367	734
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,963)	(1,612)
Available for sale, Fair Value	47,832	47,886
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	32,377	31,533
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	240	398
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,295)	(1,207)
Available for sale, Fair Value	$ 31,322	$ 30,724

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Available for sale, Due in 1 year or less, Fair Value & Net Carrying Value	$ 4,553	$ 4,749
Available for sale, Due after 1 year through 5 years, Fair Value & Net Carrying Value	36,333	35,611
Available for sale, Due after 5 years through 10 years, Fair Value & Net Carrying Value	31,062	31,514
Available for sale, Due after 10 years, Fair Value & Net Carrying Value	20,163	20,082
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	92,111	91,956
Available for sale, Mortgage backed securities, Fair Value & Net Carrying Value	31,322	30,724
Available for sale, Fair Value	$ 123,433	$ 122,680

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 36,315	$ 12,574
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(776)	(237)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	29,968	32,375
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(3,297)	(2,899)
Debt Securities, Available-for-sale, Unrealized Loss Position	66,283	44,949
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(4,073)	(3,136)
U.S. and local government securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	743	307
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(9)	(3)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,983	2,139
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(226)	(216)
Debt Securities, Available-for-sale, Unrealized Loss Position	2,726	2,446
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(235)	(219)
Non-U.S.
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	14,685	6,664
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(468)	(163)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	8,352	8,995
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(750)	(622)
Debt Securities, Available-for-sale, Unrealized Loss Position	23,037	15,659
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,218)	(785)
Corporate and asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	14,841	4,136
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(237)	(59)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	9,626	10,225
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,088)	(867)
Debt Securities, Available-for-sale, Unrealized Loss Position	24,467	14,361
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,325)	(926)
Mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	6,046	1,467
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(62)	(12)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	10,007	11,016
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,233)	(1,194)
Debt Securities, Available-for-sale, Unrealized Loss Position	16,053	12,483
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (1,295)	$ (1,206)

Investments (Rollforward of expected credit-losses, AFS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Beginning Balance	$ 52	$ 70
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	19	21
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	(21)	(28)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance	$ 50	$ 63

Investments (Rollforward of expected credit losses Private Debt HFI) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Private Debt, Held-for-investment, Allowance for Credit Loss [Line Items]
Private Debt Held-for-investment, Allowance for Credit Loss, Beginning Balance	$ 3	$ 4
Private Debt Held-for-investment, Allowance for Credit Loss, Recovery	(1)	(1)
Private Debt Held-for-investment, Allowance for Credit Loss, Ending Balance	$ 2	$ 3

Investments (Net Realized Gains (Losses) And Losses Included In Net Realized Gains (Losses) And Other Comprehensive Income) (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Debt Securities, Available-for-Sale, Allowance for Credit Loss, Period Increase (Decrease)

$ (407)

$ (116)

19

21

Debt Securities, Available-for-sale, Gain (Loss), Total

(121)

(97)

Foreign exchange

(8)

(65)

Other

(21)

(2)

Fixed Maturities [Member]

Debt Securities, Available-for-Sale, Realized Gain

40

38

Debt Securities, Available-for-Sale, Realized Loss

124

96

Debt Securities, Available-for-Sale, Allowance for Credit Loss, Period Increase (Decrease)

3

8

Debt Securities, Available-For-Sale, Credit Impairment Charges Intent to Sell

^[1]

(32)

(7)

Other Investments

(8)

(40)

Equity Securities

Equity Securities, FV-NI, Realized Gain (Loss)

(149)

63

Private equities

Other investments - Fixed Maturities [Member]

16

11

Reserved alternative investment fund

(20)

(53)

Equity Securities, FV-NI, Realized Gain (Loss)

(67)

53

Investment and embedded derivative instruments

(115)

(23)

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

$ (9)

$ (3)

[1]	Relates to certain securities we intend to sell and securities written to market entering default.

Investments Schedule of Gains and Losses on Equity and Other Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	$ (407)	$ (116)
Equity Securities
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	(149)	63
Less: Net gains (losses) recognized from sales of securities	94	(12)
Unrealized Gain (Loss) on Investments	(243)	75
Other Investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	(8)	(40)
Less: Net gains (losses) recognized from sales of securities	0	1
Unrealized Gain (Loss) on Investments	(8)	(41)
Private equities
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	16	11
Less: Net gains (losses) recognized from sales of securities	0	0
Unrealized Gain (Loss) on Investments	16	11
Equity securities, Private equities and Other investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	(141)	34
Less: Net gains (losses) recognized from sales of securities	94	(11)
Unrealized Gain (Loss) on Investments	$ (235)	$ 45

Investments Entities that Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	$ 17,132	$ 17,239
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	7,279	7,218
Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	1,270	1,420
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	443	483
Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	1,901	1,924
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	1,104	1,111
Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	1,198	1,226
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	1,231	977
Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	301	299
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	292	302
Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	12,081	11,990
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	4,209	4,345
Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	33	43
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	0	0
Investment Funds Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	348	337
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	$ 0	$ 0
Minimum \| Financial [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
Minimum \| Real Estate Funds [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
Minimum \| Distressed Alternative Investments [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
Minimum \| Private Credit Alternative Investments [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
Minimum \| Private Equity Funds [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
Minimum \| Vintage Alternative Investments [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
Maximum \| Financial [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	10 years	10 years
Maximum \| Real Estate Funds [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	13 years	13 years
Maximum \| Distressed Alternative Investments [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	8 years	8 years
Maximum \| Private Credit Alternative Investments [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	8 years	8 years
Maximum \| Private Equity Funds [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	14 years	14 years
Maximum \| Vintage Alternative Investments [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

Investments (Schedule Of Components Of Restricted Assets) (Detail) - Asset Pledged as Collateral without Right - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Investments [Line Items]
Trust funds	$ 8,519	$ 8,461
Assets pledged under repurchase agreements	3,925	3,518
Deposits with U.S. regulatory authorities	2,566	2,598
Deposits with non-U.S. regulatory authorities and other	4,566	4,669
Total restricted assets	$ 19,576	$ 19,246

Fair value measurements (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($)
$ in Millions

Mar. 31, 2026

Dec. 31, 2025

Mar. 31, 2025

$ 123,433

$ 122,680

10,916

10,801

5,067

4,840

11,170

10,749

2,277

2,500

6,718

6,925

$ 6,285

Reserved alternative investment fund

642

659

Private equities

17,132

17,239

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

5,452

5,519

Other Investments

Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value

1,433

1,435

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Private equities

17,132

17,239

U.S. and local government securities

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

3,697

3,714

Non-U.S.

Corporate and asset-backed securities

40,582

40,356

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Mortgage-backed securities

47,832

47,886

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 1 | Fair Value, Recurring

31,322

30,724

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

1,487

1,481

5,343

^[1]

5,163

^[2]

2,591

2,657

664

^[3]

630

^[4]

0

33

22

0

28

11

6,649

6,858

16,795

^[1],[3],[5]

16,822

^[2],[4],[6]

358

242

0

0

^[7]

0

^[8]

Level 1 | U.S. and local government securities | Fair Value, Recurring

358

242

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 1 | Non-U.S. | Fair Value, Recurring

1,487

1,481

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 1 | Corporate and asset-backed securities | Fair Value, Recurring

0

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 1 | Mortgage-backed securities | Fair Value, Recurring

0

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 2 | Fair Value, Recurring

0

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

117,721

116,982

0

^[1]

0

^[2]

2,465

2,138

9,073

^[3]

8,684

^[4]

2,277

2,500

0

265

266

0

69

67

131,870

^[1],[3],[5]

130,637

^[2],[4],[6]

0

Other derivative instruments, liability

80

232

4

0

^[7]

0

^[8]

Level 2 | U.S. and local government securities | Fair Value, Recurring

80

236

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 2 | Non-U.S. | Fair Value, Recurring

2,210

2,233

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 2 | Corporate and asset-backed securities | Fair Value, Recurring

39,893

39,685

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 2 | Mortgage-backed securities | Fair Value, Recurring

44,296

44,340

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 3 | Fair Value, Recurring

31,322

30,724

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

4,225

4,217

121

^[1]

119

^[2]

11

45

0

^[3]

0

^[4]

0

0

0

0

0

4,357

^[1],[3],[5]

4,381

^[2],[4],[6]

0

Other derivative instruments, liability

0

0

642

^[7]

659

^[8]

Level 3 | U.S. and local government securities | Fair Value, Recurring

642

659

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 3 | Non-U.S. | Fair Value, Recurring

0

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 3 | Corporate and asset-backed securities | Fair Value, Recurring

689

671

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Level 3 | Mortgage-backed securities | Fair Value, Recurring

3,536

3,546

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Total Level 1, Level 2, and Level 3 | Fair Value, Recurring

0

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

123,433

122,680

5,464

^[1]

5,282

^[2]

5,067

4,840

9,737

^[3]

9,314

^[4]

2,277

2,500

33

22

265

266

28

11

6,718

6,925

153,022

^[1],[3],[5]

151,840

^[2],[4],[6]

358

242

Other derivative instruments, liability

80

232

4

642

^[7]

659

^[8]

Total Level 1, Level 2, and Level 3 | U.S. and local government securities | Fair Value, Recurring

1,080

1,137

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Total Level 1, Level 2, and Level 3 | Non-U.S. | Fair Value, Recurring

3,697

3,714

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Total Level 1, Level 2, and Level 3 | Corporate and asset-backed securities | Fair Value, Recurring

40,582

40,356

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Total Level 1, Level 2, and Level 3 | Mortgage-backed securities | Fair Value, Recurring

47,832

47,886

Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]

Reinsurance recoverable on unpaid losses and loss expenses

$ 31,322

$ 30,724

[1]	Excluded from the table above are funds of $5,452 million, measured using NAV as a practical expedient.
[2]	Excluded from the table above are funds of $5,519 million, measured using NAV as a practical expedient.
[3]	Excluded from the table above are other investments of $1,433 million, principally policy loans, measured using NAV as a practical expedient.
[4]	Excluded from the table above are other investments of $1,435 million, principally policy loans, measured using NAV as a practical expedient.
[5]	Excluded from the table above are private equities of $17,132 million, measured using NAV as a practical expedient.
[6]	Excluded from the table above are private equities of $17,239 million, measured using NAV as a practical expedient.
[7]	Refer to Note 11 for additional information on Market risk benefits.
[8]	Refer to Note 11 for additional information on Market risk benefits.

Fair value measurements (Assets, Measured At Fair Value Using Significant Unobservable Inputs) (Details) - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	$ 119	$ 120
Transfers Into Level 3, Asset	0	0
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	0
Net Realized Gains/ (Losses), Assets	0	(5)
Purchases, Assets	6	7
Sales, Assets	(4)	(9)
Settlements, Assets	0	0
Balance-End of Period, Assets	121	113
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	5
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	$ 0	$ 0
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss), before income tax	Other comprehensive income (loss), before income tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	$ 45	$ 14
Transfers Into Level 3, Asset	0	0
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	(2)	0
Net Realized Gains/ (Losses), Assets	0	0
Purchases, Assets	8	5
Sales, Assets	0	0
Settlements, Assets	(40)	(1)
Balance-End of Period, Assets	11	18
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	$ (1)	$ 0
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss), before income tax	Other comprehensive income (loss), before income tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Available-for-Sale Debt Securities \| Non-U.S.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	$ 671	$ 604
Transfers Into Level 3, Asset	2	1
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	(10)	20
Net Realized Gains/ (Losses), Assets	0	(6)
Purchases, Assets	76	60
Sales, Assets	(30)	(53)
Settlements, Assets	(20)	(39)
Balance-End of Period, Assets	689	587
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	(1)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	$ (10)	$ 14
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss), before income tax	Other comprehensive income (loss), before income tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Available-for-Sale Debt Securities \| Corporate and asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	$ 3,546	$ 2,891
Transfers Into Level 3, Asset	1	24
Transfers out of Level 3, Assets	(17)	(1)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	(14)	(4)
Net Realized Gains/ (Losses), Assets	(7)	(2)
Purchases, Assets	111	219
Sales, Assets	(1)	(47)
Settlements, Assets	(83)	(63)
Balance-End of Period, Assets	3,536	3,017
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	(3)	(3)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	$ (18)	$ (10)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss), before income tax	Other comprehensive income (loss), before income tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Available-for-Sale Debt Securities \| Mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets		$ 3
Transfers Into Level 3, Asset		0
Transfers out of Level 3, Assets		0
Change in Net Unrealized Gains (Losses) included in OCI, Assets		0
Net Realized Gains/ (Losses), Assets		(2)
Purchases, Assets		1
Sales, Assets		(2)
Settlements, Assets		0
Balance-End of Period, Assets		0
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets		0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets		$ 0
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Other comprehensive income (loss), before income tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Revenues

Fair value measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	$ 2,477	$ 2,411
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,736	3,324
Short-term debt	1,500	1,499
Long-term debt	15,970	15,728
Hybrid debt	425	422
Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	0	0
Assets, Fair Value Disclosure	0	0
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
Hybrid debt, Fair Value	0	0
Liabilities, Fair Value Disclosure	0	0
Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	0	0
Assets, Fair Value Disclosure	0	0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,736	3,324
Short-Term Debt, Fair Value	1,499	1,498
Long-term Debt, Fair Value	14,038	14,045
Hybrid debt, Fair Value	480	484
Liabilities, Fair Value Disclosure	19,753	19,351
Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	2,515	2,445
Assets, Fair Value Disclosure	2,515	2,445
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-Term Debt, Fair Value	0	0
Long-term Debt, Fair Value	590	576
Hybrid debt, Fair Value	0	0
Liabilities, Fair Value Disclosure	590	576
Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	2,515	2,445
Assets, Fair Value Disclosure	2,515	2,445
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,736	3,324
Short-Term Debt, Fair Value	1,499	1,498
Long-term Debt, Fair Value	14,628	14,621
Hybrid debt, Fair Value	480	484
Liabilities, Fair Value Disclosure	20,343	19,927
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	2,477	2,411
Assets, Fair Value Disclosure	2,477	2,411
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,736	3,324
Short-term debt	1,500	1,499
Long-term debt	15,970	15,728
Hybrid debt	425	422
Liabilities, Fair Value Disclosure	$ 21,631	$ 20,973

Reinsurance (Reinsurance Recoverable on Ceded Reinsurance) (Details) - USD ($)
$ in Millions

Mar. 31, 2026

Dec. 31, 2025

Mar. 31, 2025

Dec. 31, 2024

Reinsurance Disclosures [Abstract]

^[1]

$ 18,253

$ 18,346

$ 18,081

$ 17,734

Reinsurance recoverable on paid losses and loss expenses

^[1]

1,906

1,992

Reinsurance recoverable on losses and loss expenses

^[1]

20,159

20,338

Reinsurance Recoverables on Unpaid Losses, Allowance

256

248

Reinsurance Recoverables on Paid Losses, Allowance

64

72

Reinsurance Recoverable, Allowance for Credit Loss, Total

320

$ 320

$ 310

Reinsurance Recoverables on Future Policy Benefits, Allowance

^[1]

295

286

$ 0

[1]	Net of valuation allowance for uncollectible reinsurance.

Amount, after valuation allowance, recoverable under reinsurance contracts for losses reported to the ceding insurer but not yet paid and amounts expected for incurred losses and settlement expenses, which have not yet been reported to the ceding insurer.

Amount, after valuation allowance, recoverable under reinsurance contracts. Examples include, but are not limited to, settled and unsettled claims, incurred but not reported losses, loss adjustment expense, policy benefits and policy reserves. Excludes premiums paid under reinsurance contracts.

Reinsurance, Allowance (Details) - USD ($) $ in Millions	3 Months Ended
Reinsurance, Allowance (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Reinsurance Disclosures [Abstract]
Valuation allowance for uncollectible reinsurance - beginning of period	$ 320	$ 310
Provision for uncollectible reinsurance	8	11
Write-offs charged against the valuation allowance	(9)	(2)
Foreign exchange revaluation	1	1
Valuation allowance for uncollectible reinsurance - end of period	$ 320	$ 320

Deferred acquisition costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	$ 10,008
Amortization expense	(2,596)	$ (2,313)
Balance – end of Period	10,452	8,775
Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(362)	(310)
Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(1,009)	(837)
Short-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Balance – end of Period	4,288	3,841
Long-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Balance – end of Period	6,164	4,934
Long-Duration Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	5,137	4,066
Capitalizations	478	415
Amortization expense	(160)	(129)
Other (including foreign exchange)	(4)	(26)
Balance – end of Period	5,451	4,326
Long-Duration Insurance, Other \| Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – end of Period	713	608
Term Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	567	469
Capitalizations	64	58
Amortization expense	(41)	(36)
Other (including foreign exchange)	5	4
Balance – end of Period	595	495
Universal Life \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	746	722
Capitalizations	26	38
Amortization expense	(21)	(20)
Other (including foreign exchange)	(7)	(8)
Balance – end of Period	744	732
Whole Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	1,296	870
Capitalizations	139	109
Amortization expense	(18)	(12)
Other (including foreign exchange)	(1)	(4)
Balance – end of Period	1,416	963
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	2,136	1,681
Capitalizations	197	170
Amortization expense	(71)	(54)
Other (including foreign exchange)	(2)	(16)
Balance – end of Period	2,260	1,781
Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Balance – beginning of period	392	324
Capitalizations	52	40
Amortization expense	(9)	(7)
Other (including foreign exchange)	1	(2)
Balance – end of Period	$ 436	$ 355

Goodwill (Roll-forward of Goodwill by Business Segment) (Details)
$ in Millions

3 Months Ended

Mar. 31, 2026

USD ($)

$ 20,207

170

goodwill attributable to noncontrolling interests

20,370

^[1]

420

North America Commercial P&C Insurance [Member]

7,191

9

North American Personal P&C Insurance [Member]

7,200

^[1]

2,226

3

North America Agricultural Insurance [Member]

2,229

^[1]

134

0

Overseas General Insurance [Member]

134

^[1]

5,530

77

Global Reinsurance [Member]

5,600

^[1]

371

0

371

^[1]

Segment Life [Member]

4,755

81

LMG Insurance, Thailand [Member]

4,836

^[1]

LMG Insurance, Thailand [Member] | North America Commercial P&C Insurance [Member]

(7)

LMG Insurance, Thailand [Member] | North American Personal P&C Insurance [Member]

0

LMG Insurance, Thailand [Member] | North America Agricultural Insurance [Member]

0

LMG Insurance, Thailand [Member] | Overseas General Insurance [Member]

0

LMG Insurance, Thailand [Member] | Global Reinsurance [Member]

(7)

LMG Insurance, Thailand [Member] | Segment Life [Member]

0

Liability for Claims and Claims Adjustment Expense [Line Items]

$ 0

[1]	Includes $420 million attributable to noncontrolling interests.

Unpaid losses and loss expenses (RF) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Gross unpaid losses and loss expenses – beginning of period

$ 88,018

$ 84,004

Reinsurance recoverable on unpaid losses and loss expenses - beginning of period

^[1]

18,346

17,734

Net unpaid losses and loss expenses – beginning of period

69,672

66,270

Current Year Claims and Claims Adjustment Expense

6,419

7,133

Prior Year Claims and Claims Adjustment Expense

^[2]

(288)

(237)

Total, Incurred

6,131

6,896

Net loss and loss expenses paid, Current Year

1,191

1,305

Net loss and loss expenses paid, Prior Years

4,140

4,699

Total, Paid

5,331

6,004

Foreign currency revaluation and other

190

228

Net unpaid losses and loss expenses – end of period

70,662

67,390

Reinsurance recoverable on unpaid losses and loss expenses - end of period

^[1]

(18,253)

(18,081)

Gross unpaid losses and loss expenses – end of period

88,915

85,471

prior period development, net adjustments

$ 2

$ (18)

[1]	Net of valuation allowance for uncollectible reinsurance.
[2]	Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $2 million and $(18) million for the three months ended March 31, 2026 and 2025, respectively.

Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (286)	$ (255)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(89)	(114)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(1)	0
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(80)	(33)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(131)	(121)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	15	13
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(322)	(313)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(110)	(163)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(1)	0
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(80)	(33)
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(131)	(122)
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	5
Short Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	36	58
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	21	49
Long Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	1
Long Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(5)
Long Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 15	$ 13

Unpaid losses and loss expenses Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Liability for Claims and Claims Adjustment Expense [Line Items]
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease)	$ 990
Net Prior Period Development	(286)	$ (255)
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	36	58
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(322)	(313)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(89)	(114)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	21	49
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(110)	(163)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(131)	(121)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	1
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (131)	$ (122)

Future policy benefits (Rollforward) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Dec. 31, 2025

Liability for Future Policy Benefit, Activity [Line Items]

Net liability for future policy benefits, before reinsurance recoverable

$ 2,904

$ 1,908

19,273

16,690

$ 18,420

Liability for Future Policy Benefit, Activity [Line Items]

^[1]

295

$ 286

Segment Life [Member]

18,407

17,679

18,518

17,745

Effect of actual variances from expected experience

0

(9)

(128)

(63)

18,390

17,673

1,408

1,160

192

181

^[2]

(1,139)

(801)

132

(109)

18,983

18,104

(449)

29

18,534

18,133

32,775

30,635

32,551

30,142

Effect of actual variances from expected experience

0

(8)

(126)

(61)

32,425

30,073

1,408

1,160

311

280

(572)

(556)

215

(162)

33,787

30,795

(498)

689

33,289

31,484

14,755

13,351

Net liability for future policy benefits, before reinsurance recoverable

2,904

1,908

17,659

15,259

Net liability for future policy benefits, after reinsurance recoverable

284

267

$ 17,375

$ 14,992

Liability for Future Policy Benefit, Activity [Line Items]

21 years 4 months 24 days

21 years 9 months 18 days

Other Segments

Net liability for future policy benefits, before reinsurance recoverable

$ 1,614

$ 1,431

Term Life Insurance | Segment Life [Member]

Liability for Future Policy Benefit, Activity [Line Items]

1,544

1,523

1,814

1,819

Effect of actual variances from expected experience

0

2

7

1,816

1,826

70

65

15

14

^[2]

(62)

(59)

10

(6)

1,849

1,840

(282)

(295)

1,567

1,545

2,313

2,238

2,715

2,647

Effect of actual variances from expected experience

0

9

10

2,724

2,657

70

65

21

19

(56)

(51)

8

(6)

2,767

2,684

(436)

(416)

2,331

2,268

764

723

Net liability for future policy benefits, before reinsurance recoverable

323

291

1,087

1,014

Net liability for future policy benefits, after reinsurance recoverable

110

108

$ 977

$ 906

Whole Life Insurance | Segment Life [Member]

11 years 1 month 6 days

10 years 6 months

Liability for Future Policy Benefit, Activity [Line Items]

$ 4,749

$ 4,405

4,616

4,303

Effect of actual variances from expected experience

0

(4)

53

23

4,669

4,322

495

288

36

32

^[2]

(565)

(311)

27

(19)

4,662

4,312

81

111

4,743

4,423

13,791

12,057

13,133

11,242

Effect of actual variances from expected experience

0

(10)

55

24

13,188

11,256

495

288

112

90

(87)

(78)

123

(32)

13,831

11,524

336

905

14,167

12,429

9,424

8,006

Net liability for future policy benefits, before reinsurance recoverable

2,210

1,351

11,634

9,357

Net liability for future policy benefits, after reinsurance recoverable

48

45

$ 11,586

$ 9,312

Accident and Health Insurance Product Line [Member] | Segment Life [Member]

25 years 9 months 18 days

27 years 10 months 24 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 11,688

$ 11,626

11,665

11,499

Effect of actual variances from expected experience

0

(5)

(187)

(93)

11,478

11,401

609

599

138

133

^[2]

(390)

(370)

87

(86)

11,922

11,677

(250)

212

11,672

11,889

15,587

15,693

15,645

15,652

Effect of actual variances from expected experience

0

2

(194)

(95)

15,451

15,559

609

599

170

165

(422)

(421)

63

(127)

15,871

15,775

(400)

155

15,471

15,930

3,799

4,041

Net liability for future policy benefits, before reinsurance recoverable

243

202

4,042

4,243

Net liability for future policy benefits, after reinsurance recoverable

125

114

$ 3,917

$ 4,129

Insurance, Other | Segment Life [Member]

10 years

9 years 10 months 24 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 426

$ 125

423

124

Effect of actual variances from expected experience

0

4

0

427

124

234

208

3

2

^[2]

(122)

(61)

8

2

550

275

2

1

552

276

1,084

647

1,058

601

Effect of actual variances from expected experience

0

4

0

1,062

601

234

208

8

6

(7)

(6)

21

3

1,318

812

2

45

1,320

857

768

581

Net liability for future policy benefits, before reinsurance recoverable

128

64

896

645

Net liability for future policy benefits, after reinsurance recoverable

1

0

$ 895

$ 645

27 years 2 months 12 days

23 years 6 months

[1]	Net of valuation allowance for uncollectible reinsurance.
[2]	Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.

Future policy benefits (Undiscounted & discounted FPB) (Details) - Segment Life [Member] - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Liability for Future Policy Benefit, Activity [Line Items]
Discounted expected future benefit payments	$ 33,289	$ 32,775	$ 31,484	$ 30,635
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	4,636		4,266
Undiscounted expected future gross premiums	6,838		6,595
Discounted expected future benefit payments	2,331	2,313	2,268	2,238
Discounted expected future gross premiums	4,609		4,460
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	33,780		29,099
Undiscounted expected future gross premiums	11,052		10,390
Discounted expected future benefit payments	14,167	13,791	12,429	12,057
Discounted expected future gross premiums	9,213		8,518
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	26,758		26,695
Undiscounted expected future gross premiums	39,618		39,108
Discounted expected future benefit payments	15,471	15,587	15,930	15,693
Discounted expected future gross premiums	23,867		23,346
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	2,530		1,556
Undiscounted expected future gross premiums	851		478
Discounted expected future benefit payments	1,320	$ 1,084	857	$ 647
Discounted expected future gross premiums	$ 798		$ 437

Future policy benefits (Premiums & interest) (Details) - Segment Life [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	$ 2,118	$ 1,574
Interest Accretion	119	99
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	186	170
Interest Accretion	6	5
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	954	563
Interest Accretion	76	58
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	802	752
Interest Accretion	32	32
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	176	89
Interest Accretion	$ 5	$ 4

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(6)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 29E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480046/944-40-55-29E

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Future policy benefits (Weighted average interest rates) (Details) - Segment Life [Member]	Mar. 31, 2026	Mar. 31, 2025
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.20%	3.00%
Current Discount Rate	6.10%	5.60%
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.60%	3.50%
Current Discount Rate	4.40%	4.00%
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	4.30%	4.10%
Current Discount Rate	6.10%	5.70%
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.30%	3.20%
Current Discount Rate	3.70%	3.60%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(6)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 29E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480046/944-40-55-29E

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-6

Policyholders' account balances (Policyholder Account Balance Rollforward) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Dec. 31, 2025

Dec. 31, 2024

$ 7,231

$ 6,748

387

248

Policyholder Account Balance, Surrender and Withdrawal

^[1]

(25)

(31)

(91)

(89)

^[2]

(180)

(87)

Policyholder Account Balance, Increase (Decrease) from Other Change

43

38

52

17

Unearned Revenue Liability

7,417

6,844

762

719

$ 758

$ 711

Policyholder Account Balance, Other Reconciling Items

^[3]

603

566

Policyholder Account Balance, Ending Balance

8,782

8,129

Universal Life

1,899

1,809

61

53

Policyholder Account Balance, Surrender and Withdrawal

^[1]

(23)

(29)

(33)

(29)

^[2]

(95)

(17)

Policyholder Account Balance, Increase (Decrease) from Other Change

12

10

13

Policyholder Account Balance, Ending Balance

1,831

1,812

$ 1,831

$ 1,812

Policyholder Account Balance, Weighted Average Crediting Rate

^[4]

3.40%

3.50%

Policyholder Account Balance, Net Amount at Risk

^[5]

$ 10,753

$ 12,079

Policyholder Account Balance, Cash Surrender Value

1,705

1,659

Annuities [Member]

^[6]

2,801

2,585

^[6]

80

101

Policyholder Account Balance, Surrender and Withdrawal

^[1],[6]

0

^[6]

(8)

(9)

^[2],[6]

(69)

(48)

Policyholder Account Balance, Increase (Decrease) from Other Change

^[6]

13

10

^[6]

79

5

Policyholder Account Balance, Net Amount at Risk

^[6]

2,896

2,644

^[5],[7]

64

0

Policyholder Account Balance, Cash Surrender Value

^[7]

1,928

1,728

Insurance, Other

^[8]

2,531

2,354

^[8]

246

94

Policyholder Account Balance, Surrender and Withdrawal

^[1],[8]

(2)

^[8]

(50)

(51)

^[2],[8]

(16)

(22)

Policyholder Account Balance, Increase (Decrease) from Other Change

^[8]

18

16

^[8]

(37)

(1)

Policyholder Account Balance, Ending Balance

^[8]

2,690

2,388

$ 2,690

$ 2,388

Policyholder Account Balance, Weighted Average Crediting Rate

^[4]

3.10%

3.40%

Policyholder Account Balance, Net Amount at Risk

^[5]

$ 336

$ 407

Policyholder Account Balance, Cash Surrender Value

$ 2,381

$ 2,095

[1]	Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
[2]	Includes payments for survival and death benefits.
[3]	Primarily comprises unpaid dividends on certain participating policies.
[4]	Calculated using actual interest credited for the three months ended March 31, 2026 and 2025, respectively.
[5]	For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.
[6]	Relates to Huatai Life.
[7]	Annuities do not have an explicit account balance, therefore a crediting rate is not applicable.
[8]	Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.

Policyholders' account balances (Guaranteed Minimum Crediting Rates) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 8,782	$ 8,576	$ 8,129
Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,831		1,812
Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	462		260
Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	324		589
Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	356		402
Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	217		123
Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2,690		2,388
Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,150		1,023
Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	119		56
Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	38		130
Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	59		25
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	268		173
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		3
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	35		0
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	16		47
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	217		123
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	165		166
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2		6
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	66		5
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	38		130
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	59		25
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,073		1,189
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	444		245
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	289		589
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	340		355
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,201		1,068
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,148		1,017
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	53		51
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	18		12
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	18		12
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Fixed Rate or No Guarantee \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	472		438
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Fixed Rate or No Guarantee \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 1,324		$ 1,154
Minimum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.01%		2.01%
Minimum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Annuities [Member]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate
Minimum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.01%		2.01%
Minimum \| Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%		4.00%
Minimum \| Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%		4.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.00%		2.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.00%		2.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%		4.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%		4.00%

Separate accounts (Fair value of assets) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 6,718	$ 6,925	$ 6,285
Separate Account, Cash and Cash Equivalents
Fair Value, Separate Account Investment [Line Items]
Separate account assets	156		131
Mutual funds
Fair Value, Separate Account Investment [Line Items]
Separate account assets	6,493		6,081
Fixed maturities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 69		$ 73

Separate accounts (Separate account liabilities rollforward) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Separate Account, Liability [Line Items]

Separate Account, Liability, Beginning Balance

$ 6,925

$ 6,231

Separate Account, Liability, Premium and Deposit

367

490

Separate Account, Liability, Policy Charge

(44)

(33)

Separate Account, Liability, Surrender and Withdrawal

(337)

(243)

Separate Account, Liability, Benefit Payment

(125)

(113)

Separate Account, Liability, Increase (Decrease) from Invested Performance

23

5

Separate Account, Liability, Increase (Decrease) from Other Change

(91)

(52)

Separate Account, Liability, Ending Balance

6,718

6,285

Separate Account, Liability, Cash Surrender Value, Amount

^[1]

$ 6,239

$ 5,898

[1]	Cash surrender value represents the amount of the policyholder's account balances distributable at the balance sheet date less certain surrender charges.

Unearned revenue liability (URL Rollforward) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Insurance [Abstract]
Balance – beginning of period	$ 758	$ 711
Deferred revenue	30	34
Amortization	(20)	(18)
Other (including foreign exchange)	(6)	(8)
Balance – end of period	$ 762	$ 719

Market risk benefits (MRB Roll-Forward) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Market Risk Benefit [Line Items]

Market risk benefits gains (losses)

$ 14

$ (92)

Long-Duration Insurance, Other | Variable Annuity

Market Risk Benefit [Line Items]

Balance - beginning of period

659

607

Balance, beginning of period, before effect of changes in the instrument-specific credit risk

636

592

Interest rate changes

(11)

46

Effect of market movements (1)

^[1]

42

52

Effect of changes in volatilities

2

16

Actual policyholder behavior different from expected behavior

(4)

16

Effect of timing and all other

(34)

(25)

Balance, end of period, before effect of changes in the instrument-specific credit risk

631

697

Effect of changes in the instrument-specific credit risk

11

Balance - end of period

642

708

Market Risk Benefit, Net Amount at Risk

^[2]

1,403

1,654

Market Risk Benefits Other Gains (Losses)

$ 10

$ 14

Weighted-average age of policyholders (years)

74 years

[1]

Market movements are predominantly driven by changes in equities.

[2]

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, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.

Market Risk Benefits (MRB Valuation) (Details)

Mar. 31, 2026

Mar. 31, 2025

Minimum

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate

0.50%

Significant Unobservable Inputs 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

27.30%

Significant Unobservable Inputs Annuitization Rate

100.00%

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]

3.10%

3.20%

Significant Unobservable Inputs Annuitization Rate

^[1]

5.10%

4.80%

[1]	The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

Debt (Detail) - Senior Notes [Member] - INA CHF Bond Due 2032 SFr in Millions, $ in Millions	Mar. 17, 2026 CHF (SFr)	Mar. 17, 2026 USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount	SFr 200	$ 254
Debt Instrument, Interest Rate, Stated Percentage	1.02%	1.02%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482949/835-30-55-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
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-Topic 835
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Foreign currency forward contracts | Not Designated as Hedging Instrument [Member]

Commitments, Contingencies, And Guarantees (Narrative) (Detail) SFr in Thousands, € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2026 EUR (€)	Mar. 17, 2026 CHF (SFr)	Dec. 31, 2025 USD ($)
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative Liability, Subject to Master Netting Arrangement, after Offset	$ 112				$ 179
Repurchase agreements	3,736				3,324
Carrying value of limited partnerships and partially-owned investment companies included in other investments	16,800				16,900
Operating Lease, Right-of-Use Asset	1,001				1,025
Operating Lease, Liability	$ 1,231				$ 1,214
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities		Other liabilities		Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets (includes VIE balances of $82 and $58)		Other assets (includes VIE balances of $82 and $58)		Other assets (includes VIE balances of $82 and $58)
Private Equity Funds [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Funding commitments relating to limited partnerships and partially-owned investment companies	$ 7,300				$ 7,200
Fair Value Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
Hedged Liability, Fair Value Hedge	2,000		€ 1,700
Bonds \| Net Investment Hedging \| Designated as Hedging Instrument
Financial Instruments Owned and Pledged as Collateral [Line Items]
Notional Amount of Nonderivative Instruments	652
Loans \| Net Investment Hedging \| Designated as Hedging Instrument
Financial Instruments Owned and Pledged as Collateral [Line Items]
Notional Amount of Nonderivative Instruments	578
Unsecured Debt \| Net Investment Hedging \| Designated as Hedging Instrument
Financial Instruments Owned and Pledged as Collateral [Line Items]
Notional Amount of Nonderivative Instruments	256
Currency Swap [Member] \| Designated as Hedging Instrument
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative, Notional Amount	5,981				5,041
Currency Swap [Member] \| Net Investment Hedging \| Designated as Hedging Instrument
Financial Instruments Owned and Pledged as Collateral [Line Items]
OCI, before Reclassifications, before Tax, Attributable to Parent	58	$ 24
Derivative Notional Amount Terminated \| SFr				SFr 95,800
Derivative, Notional Amount	3,891				2,995
OCI, before Reclassifications, before Tax, Attributable to Parent	58	24
Derivative Notional Amount Terminated \| SFr				SFr 95,800
Currency Swap [Member] \| Fair Value Hedging \| Designated as Hedging Instrument
Financial Instruments Owned and Pledged as Collateral [Line Items]
OCI, before Reclassifications, before Tax, Attributable to Parent	(43)	(26)
Derivative, Notional Amount	2,090				$ 2,046
OCI, before Reclassifications, before Tax, Attributable to Parent	$ (43)	$ (26)

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

Mar. 31, 2026

Dec. 31, 2025

Options/Futures/Forward contracts on notes and bonds | Not Designated as Hedging Instrument [Member]

$ 4,519

$ 4,912

Convertible securities | Not Designated as Hedging Instrument [Member]

1,508

1,216

Investment And Embedded Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]

^[1]

3

5

37

28

(358)

(242)

Futures contracts on equities | Not Designated as Hedging Instrument [Member]

6,030

6,133

Other derivative instruments | Not Designated as Hedging Instrument [Member]

^[2]

807

943

Other Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]

242

334

Currency Swap [Member] | Designated as Hedging Instrument

1,049

1,277

265

266

(80)

232

Currency Swap [Member] | Fair Value Hedging | Designated as Hedging Instrument

5,981

5,041

Currency Swap [Member] | Net Investment Hedging | Designated as Hedging Instrument

2,090

2,046

Other Assets [Member] | Foreign currency forward contracts | Not Designated as Hedging Instrument [Member]

3,891

2,995

Other Assets [Member] | Options/Futures/Forward contracts on notes and bonds | Not Designated as Hedging Instrument [Member]

20

18

Other Assets [Member] | Futures contracts on equities | Not Designated as Hedging Instrument [Member]

13

4

Other Assets [Member] | Other derivative instruments | Not Designated as Hedging Instrument [Member]

^[2]

18

3

Other Assets [Member] | Other Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]

10

8

Other Assets [Member] | Currency Swap [Member] | Fair Value Hedging | Designated as Hedging Instrument

28

11

Other Assets [Member] | Currency Swap [Member] | Net Investment Hedging | Designated as Hedging Instrument

155

198

Fixed Maturities [Member] | Convertible securities | Not Designated as Hedging Instrument [Member]

110

68

Derivative Asset, Not Subject to Master Netting Arrangement

^[1]

4

6

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Foreign currency forward contracts | Not Designated as Hedging Instrument [Member]

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Options/Futures/Forward contracts on notes and bonds | Not Designated as Hedging Instrument [Member]

(337)

(230)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Futures contracts on equities | Not Designated as Hedging Instrument [Member]

(21)

(12)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Other derivative instruments | Not Designated as Hedging Instrument [Member]

^[2]

0

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Other Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]

0

(4)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Currency Swap [Member] | Fair Value Hedging | Designated as Hedging Instrument

0

(4)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Currency Swap [Member] | Net Investment Hedging | Designated as Hedging Instrument

(2)

0

Equity Securities | Convertible securities | Not Designated as Hedging Instrument [Member]

(78)

(232)

Derivative Liability, Not Subject to Master Netting Arrangement

^[1]

$ 0

[1]	Includes fair value of embedded derivatives.
[2]	Related to MRB book of business.

Commitment, Contingencies, And Guarantees (Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Financial Instruments Owned and Pledged as Collateral [Line Items]
Net realized gains (losses)	$ (407)	$ (116)
Interest expense reclassified from OCI	198	181
Designated as Hedging Instrument \| Fair Value Hedging \| Currency Swap [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain (loss) recognized in OCI	(43)	(26)
Net realized gains (losses)	(34)	69
Interest expense reclassified from OCI	(5)	(4)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	$ (4)	$ (91)

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

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Commitments, Contingencies, And Guarantees (Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location) (Details) - Designated as Hedging Instrument - Net Investment Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Financial Instruments Owned and Pledged as Collateral [Line Items]
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	$ 16	$ 16
Debt Designated as net investment hedge [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(33)	0
Currency Swap [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain (loss) recognized in OCI	58	24
Interest income reclassified from OCI	9	8
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	49	$ 16
Currency Swap Terminated
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain (loss) recognized in OCI	$ 42

Commitments, Contingencies, And Guarantees (Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations) (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2026

Mar. 31, 2025

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member]

$ (9)

$ (3)

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member] | Foreign currency forward contracts

(79)

28

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member] | Options/Futures/Forward contracts on notes and bonds

(108)

(14)

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member] | Investment And Embedded Derivative Instruments [Member]

(7)

(9)

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member] | Futures contracts on equities

(115)

(23)

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member] | Other derivative instruments

^[1]

45

54

Derivative Instruments, Gain (Loss) [Line Items]

Not Designated as Hedging Instrument [Member] | Other Derivative Instruments [Member]

(9)

(3)

Derivative Instruments, Gain (Loss) [Line Items]

$ 36

$ 51

[1]	Related to MRB book of business.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Detail) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 2,277	$ 2,500
Securities lending payable	2,277	2,500
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	896	1,332
U.S. and local government securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	419	234
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	752	768
Corporate and asset-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	66	62
Equity Securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 144	$ 104

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Collateral pledged under repurchase agreements) (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	$ 3,736	$ 3,324
Securities Sold under Agreements to Repurchase	3,736	3,324
Variable Interest Entity, Primary Beneficiary
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	983	956
Securities Sold under Agreements to Repurchase
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	2,753	2,368
Securities Sold under Agreements to Repurchase \| Variable Interest Entity, Primary Beneficiary
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Repurchase agreements	983	956
Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	3,925	3,518
Non-US [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	1,920	129
U.S. and local government securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	139	1,496
Mortgage-backed securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	1,866	1,893
Repurchase Agreements [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Borrowings, Gross, Difference, Amount	189	194
Maturity Less than 30 Days [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	2,949	2,476
Maturity Less than 30 Days [Member] \| Non-US [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	1,920	0
Maturity Less than 30 Days [Member] \| U.S. and local government securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	22	1,496
Maturity Less than 30 Days [Member] \| Mortgage-backed securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	1,007	980
Maturity 30 to 90 Days [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	976	1,033
Maturity 30 to 90 Days [Member] \| Non-US [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	0	129
Maturity 30 to 90 Days [Member] \| U.S. and local government securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	117	0
Maturity 30 to 90 Days [Member] \| Mortgage-backed securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements	$ 859	904
Maturity Greater than 90 Days [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements		9
Maturity Greater than 90 Days [Member] \| Non-US [Member] \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements		0
Maturity Greater than 90 Days [Member] \| U.S. and local government securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements		0
Maturity Greater than 90 Days [Member] \| Mortgage-backed securities \| Asset Pledged as Collateral without Right
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Assets pledged under repurchase agreements		$ 9

Shareholders' equity (Details)			3 Months Ended
Shareholders' equity (Details)	Mar. 07, 2025 shares	May 21, 2024 shares	Mar. 31, 2026 SFr / shares shares	Dec. 31, 2025 SFr / shares shares	May 16, 2024 $ / shares	May 17, 2023 $ / shares
Stockholders' Equity Note [Abstract]
Common Shares, par value \| SFr / shares			SFr 0.50	SFr 0.50
Annual dividend per share approved by shareholders \| $ / shares					$ 3.88	$ 3.64
Common Stock, Dividend Rate Approved \| $ / shares					0.97	0.91
Treasury Stock, Shares, Retired \| shares	11,986,574	7,518,565	11,986,574
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures \| shares			912,163
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividend Rate Approved \| $ / shares					0.97	0.91
Treasury Stock, Shares, Retired \| shares	11,986,574	7,518,565	11,986,574
Treasury Stock, Common, Shares \| shares			11,625,267	21,006,194
Common Shares, par value \| SFr / shares			SFr 0.50	SFr 0.50
Annual dividend per share approved by shareholders \| $ / shares					$ 3.88	$ 3.64

Shareholders' equity Dividends Declared (Details)	3 Months Ended
Shareholders' equity Dividends Declared (Details)	Mar. 31, 2026 SFr / shares	Mar. 31, 2026 $ / shares	Mar. 31, 2025 SFr / shares	Mar. 31, 2025 $ / shares
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| (per share)	SFr 0.75	$ 0.97	SFr 0.81	$ 0.91

Shareholders' equity Share Repurchases (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 27, 2026	Mar. 31, 2026	Mar. 31, 2025	Jul. 01, 2025	Jul. 01, 2023
July 2023 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount					$ 5,000
Number of shares repurchased		3,517,810	1,345,782
Cost of shares repurchased			$ 385
Repurchase authorization remaining at end of period			$ 1,300
July 2025 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$ 5,000
Number of shares repurchased		3,517,810
Cost of shares repurchased		$ 1,143
Repurchase authorization remaining at end of period		$ 1,520
July 2025 Stock Repurchase Plan \| Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased	1,029,374
Cost of shares repurchased	$ 340
Repurchase authorization remaining at end of period	$ 1,182

Shareholders' equity AOCI (Details) - USD ($) $ in Millions	3 Months Ended
Shareholders' equity AOCI (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), before income tax	$ (906)	$ 1,047
Other Comprehensive Income (Loss), Tax	(141)	43
Other Comprehensive Income (Loss), Net of Tax	(765)	1,004
Total shareholders' equity	79,912	70,755	$ 79,779
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total shareholders' equity	(3,611)	(3,704)	(1,997)	$ (4,552)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Including Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(1,939)	843
Net Realized Gains (Losses) Reclassified from AOCI	(113)	(58)
Other comprehensive income (loss), before income tax	(1,826)	901
Other Comprehensive Income (Loss), Tax	(210)	61
Other Comprehensive Income (Loss), Net of Tax	(1,616)	840
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	(2)	(8)
AOCI, Liability for Future Policy Benefit, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total shareholders' equity	(27)	(645)	(344)	(539)
AOCI, Liability for Future Policy Benefit, Including Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), before income tax	386	(122)
Other Comprehensive Income (Loss), Tax	61	(12)
Other Comprehensive Income (Loss), Net of Tax	325	(110)
AOCI, Liability for Future Policy Benefit, Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	8	(4)
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total shareholders' equity	(13)	(13)	(23)	(16)
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Including Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), before income tax	12	4
Other Comprehensive Income (Loss), Tax	2	1
Other Comprehensive Income (Loss), Net of Tax	10	3
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	0	0
Cumulative Foreign Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total shareholders' equity	(2,778)	(3,685)	(3,135)	(4,025)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	537	367
Net Realized Gains (Losses) Reclassified from AOCI	9	8
Other comprehensive income (loss), before income tax	528	359
Other Comprehensive Income (Loss), Tax	6	12
Other Comprehensive Income (Loss), Net of Tax	522	347
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	165	7
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total shareholders' equity	(61)	(22)	(58)	50
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(43)	(26)
Net Realized Gains (Losses) Reclassified from AOCI	(39)	65
Other comprehensive income (loss), before income tax	(4)	(91)
Other Comprehensive Income (Loss), Tax	(1)	(19)
Other Comprehensive Income (Loss), Net of Tax	(3)	(72)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	0	0
Postretirement Benefit Liability Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total shareholders' equity	579	434	582	438
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income (loss), before income tax	(2)	(4)
Other Comprehensive Income (Loss), Tax	1	0
Other Comprehensive Income (Loss), Net of Tax	(3)	(4)
Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	0	0
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax	(936)	1,009
Total shareholders' equity	$ (5,911)	$ (7,635)	$ (4,975)	$ (8,644)

Shareholders' equity AOCI Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Equity, Class of Treasury Stock [Line Items]
Income tax expense	$ (646)	$ (321)
Interest expense	198	181
Net income	2,347	1,343
Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Net income	(119)	24
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Including Noncontrolling Interest \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Debt Securities, Available-for-Sale, Realized Gain (Loss)	(113)	(58)
Income tax expense	18	25
Net income	(95)	(33)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Income tax expense	(2)	(2)
Interest expense	9	8
Net income	7	6
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Income tax expense	8	(14)
Interest expense	(5)	(4)
Foreign Currency Transaction Gain (Loss), Realized	(34)	69
Net income	$ (31)	$ 51

Share-Based Compensation (Detail) - $ / shares		3 Months Ended
Share-Based Compensation (Detail) - $ / shares	Mar. 03, 2025	Mar. 31, 2026
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Award term period in years		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		3 years
Stock options granted	1,070,510
Weighted-average grant date fair value for stock options granted	$ 87.84
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		4 years
Restricted stock awards granted to employees and officers of the company	102,036
Grant date fair value of awards except for options granted to employees and officers of the company	$ 342.76
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Restricted stock awards granted to employees and officers of the company	90,078
Grant date fair value of awards except for options granted to employees and officers of the company	$ 342.76
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		4 years
Restricted stock awards granted to employees and officers of the company	670,919
Grant date fair value of awards except for options granted to employees and officers of the company	$ 342.76
PerformanceBasedStockUnits(PSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Restricted stock awards granted to employees and officers of the company	251,832
Grant date fair value of awards except for options granted to employees and officers of the company	$ 342.76

Postretirement benefits Components of net periodic benefit costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 2	$ 2
Non-service (benefit) cost	(47)	(35)
Net periodic benefit cost (benefit)	(45)	(33)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Interest cost	0	0
Expected return on plan assets	0	0
Defined Benefit Plan, Amortization of Gain (Loss)	0	(1)
Amortization of prior service cost	0	0
Settlements	0	0
Non-service (benefit) cost	0	(1)
Net periodic benefit cost (benefit)	0	(1)
Losses and loss expenses \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Non-service (benefit) cost	(4)	(3)
Losses and loss expenses \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Non-service (benefit) cost	0	0
Administrative Expense \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	2
Non-service (benefit) cost	(43)	(32)
Administrative Expense \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Non-service (benefit) cost	0	(1)
Foreign Plan [Member] \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	2
Interest cost	9	9
Expected return on plan assets	(16)	(13)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0
Amortization of prior service cost	0	0
Settlements	0	0
Non-service (benefit) cost	(7)	(4)
Net periodic benefit cost (benefit)	(5)	(2)
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Interest cost	31	34
Expected return on plan assets	(68)	(63)
Defined Benefit Plan, Amortization of Gain (Loss)	(3)	(2)
Amortization of prior service cost	0	0
Settlements	0	0
Non-service (benefit) cost	(40)	(31)
Net periodic benefit cost (benefit)	$ (40)	$ (31)

Other Income and Expense (Details) - USD ($) $ in Millions	3 Months Ended
Other Income and Expense (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Equity in net income (loss) of partially-owned entities	$ 157	$ 82
Gains (losses) from fair value changes in separate account assets	(12)	(10)
Asset management and performance fee revenue	70	56
Asset management and performance fee expense	(40)	(33)
Federal excise and capital taxes	(13)	(5)
Other	(1)	(7)
Total	161	83
Partially-owned Investment Companies
Unrealized Gain (Loss) on Investments	$ 27	$ (27)

Amount of income (loss) for proportionate share of equity method investee's income (loss).