Short-term investments, at fair value (amortized cost – $4,536 and $3,147)

844

4,782

4,534

3,146

13,645

11,169

Total investments

111,740

122,323

Cash

2,128

1,659

Restricted cash

136

152

Accrued investment income

1,626

1,831

900

821

Insurance and reinsurance balances receivable, net of valuation allowance - $51 and $46

12,853

11,322

Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $352 and $329

^[1]

18,754

17,366

Deferred policy acquisition costs

^[1]

297

213

5,578

5,513

Value of business acquired

3,324

236

Goodwill

16,107

15,213

Other intangible assets

5,383

5,455

Prepaid reinsurance premiums

3,265

3,028

Investments in partially-owned insurance companies

2,943

3,130

Other assets

13,077

11,792

Total assets

198,111

200,054

Liabilities

Liability for Claims and Claims Adjustment Expense

75,992

72,943

20,520

19,101

9,586

5,947

Securities lending payable

7,829

7,243

1,626

1,831

Accounts payable, accrued expenses, and other liabilities

16,673

15,004

Deferred tax liabilities

2

389

Trust preferred securities

2,417

1,406

Short-term debt

1,475

999

Long-term debt

14,044

15,169

308

Total liabilities

150,472

140,340

Commitments and contingencies (refer to Note 8)

Shareholders’ equity

Common Shares (CHF 24.15 par value; 446,376,614 and 474,021,114 shares issued; 415,020,484 and 426,572,612 shares outstanding)

10,346

10,985

Common Shares in treasury (31,356,130 and 47,448,502 shares)

(4,978)

(7,464)

Additional paid-in capital

7,429

8,478

Retained earnings

47,022

47,365

Accumulated other comprehensive income (loss) (AOCI)

(12,180)

350

Accumulated other comprehensive income (loss)

47,639

59,714

Total liabilities and shareholders’ equity

$ 198,111

$ 200,054

[1]	Net of valuation allowance for uncollectible reinsurance.

Consolidated Balance Sheets (Parentheticals) (Unaudited) $ in Millions	Sep. 30, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Statement of Financial Position [Abstract]
Debt Securities, Available for sale, Allowance for Credit Loss	$ 147	$ 14
Available for sale, at amortized cost	93,316	90,493
Debt Securities, Held to maturity, Allowance for Credit Loss	33	35
Held to maturity, Fair Value	8,491	10,647
Short-term investments amortized cost	4,536	3,147
Premium Receivable, Allowance for Credit Loss	51	46
Reinsurance Recoverable, Allowance for Credit Loss	$ 352	$ 329
Common Shares, shares issued \| shares	446,376,614	474,021,114
Common Shares, shares outstanding \| shares	415,020,484	426,572,612
Common Shares in treasury, shares \| shares	31,356,130	47,448,502

Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Net premiums written	$ 12,020	$ 10,510	$ 31,521	$ 28,718
Increase in unearned premiums	(485)	(510)	(1,683)	(1,684)
Net premiums earned	11,535	10,000	29,838	27,034
Net investment income	979	866	2,689	2,613
Net realized gains (losses)	(384)	(21)	(787)	833
Total revenues	12,130	10,845	31,740	30,480
Expenses
Losses and loss expenses	7,279	6,629	17,474	16,688
Policy benefits	486	151	790	503
Policy acquisition costs	1,975	1,778	5,451	5,141
Administrative expenses	883	806	2,479	2,325
Interest expense	150	122	416	366
Other (income) expense	188	(763)	(21)	(2,030)
Amortization of purchased intangibles	69	71	211	216
Cigna integration expenses	23	0	26	0
Total expenses	11,053	8,794	26,826	23,209
Income before income tax	1,077	2,051	4,914	7,271
Income tax expense	265	218	913	873
Net income	812	1,833	4,001	6,398
Other comprehensive income (loss):
Change in unrealized depreciation	(3,045)	(554)	(12,041)	(2,177)
Change in Cumulative foreign currency translation adjustment	(966)	(414)	(1,676)	(84)
Change in Other, including postretirement benefit liability adjustment	(59)	4	(35)	(33)
Other comprehensive loss, before income tax	(4,070)	(964)	(13,752)	(2,294)
Income tax benefit related to OCI items	165	120	1,222	403
Other comprehensive loss	(3,905)	(844)	(12,530)	(1,891)
Comprehensive income (loss)	$ (3,093)	$ 989	$ (8,529)	$ 4,507
Earnings per share
Basic earnings per share	$ 1.95	$ 4.21	$ 9.50	$ 14.42
Diluted earnings per share	$ 1.94	$ 4.18	$ 9.41	$ 14.33

Consolidated Statements Of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Common shares in treasury [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]	Cumulative Foreign Currency Translation Adjustment [Member]	Postretirement Benefit Liability Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance – beginning of period, net of tax at Dec. 31, 2020		$ 11,064	$ (3,644)	$ 9,815	$ 39,337	$ 4,673	$ (1,637)	$ (167)	$ 2,869
Common Shares repurchased			(3,956)
Treasury Stock, Retired, Cost Method, Amount		(79)	590		(511)
Net shares redeemed under employee share-based compensation plans			389	(184)
Exercise of stock options				(45)
Share-based compensation expense				216
Funding of dividends declared to Retained earnings				(1,050)
Net income (loss)	$ 6,398				6,398
Funding of dividends declared from Additional paid-in capital					1,050
Dividends declared on Common Shares					(1,050)
Other Comprehensive Income (Loss), Net of Tax	(1,891)								(1,891)
Balance – end of period, net of tax at Sep. 30, 2021	59,318	10,985	(6,621)	8,752	45,224	2,886	(1,714)	(194)	978
Balance – beginning of period, net of tax at Jun. 30, 2021		11,064	(5,772)	9,046	43,902	3,342	(1,323)	(197)	1,822
Common Shares repurchased			(1,516)
Treasury Stock, Retired, Cost Method, Amount		(79)	590		(511)
Net shares redeemed under employee share-based compensation plans			77	(2)
Exercise of stock options				(15)
Share-based compensation expense				69
Funding of dividends declared to Retained earnings				(346)
Net income (loss)	1,833				1,833
Funding of dividends declared from Additional paid-in capital					346
Dividends declared on Common Shares					(346)
Other Comprehensive Income (Loss), Net of Tax	(844)								(844)
Balance – end of period, net of tax at Sep. 30, 2021	59,318	10,985	(6,621)	8,752	45,224	2,886	(1,714)	(194)	978
Balance – beginning of period, net of tax at Dec. 31, 2021	59,714	10,985	(7,464)	8,478	47,365	2,256	(2,146)	240	350
Common Shares repurchased			(2,815)
Treasury Stock, Retired, Cost Method, Amount		(639)	4,983		(4,344)
Net shares redeemed under employee share-based compensation plans			318	(185)
Exercise of stock options				(35)
Share-based compensation expense				205
Funding of dividends declared to Retained earnings				(1,034)
Net income (loss)	4,001				4,001
Funding of dividends declared from Additional paid-in capital					1,034
Dividends declared on Common Shares					(1,034)
Other Comprehensive Income (Loss), Net of Tax	(12,530)								(12,530)
Balance – end of period, net of tax at Sep. 30, 2022	47,639	10,346	(4,978)	7,429	47,022	(8,611)	(3,781)	261	(12,180)
Balance – beginning of period, net of tax at Jun. 30, 2022		10,666	(6,794)	7,707	48,363	(5,713)	(2,821)	259	(8,275)
Common Shares repurchased			(685)
Treasury Stock, Retired, Cost Method, Amount		(320)	2,473		(2,153)
Net shares redeemed under employee share-based compensation plans			28	10
Exercise of stock options				(8)
Share-based compensation expense				66
Funding of dividends declared to Retained earnings				(346)
Net income (loss)	812				812
Funding of dividends declared from Additional paid-in capital					346
Dividends declared on Common Shares					(346)
Other Comprehensive Income (Loss), Net of Tax	(3,905)								(3,905)
Balance – end of period, net of tax at Sep. 30, 2022	$ 47,639	$ 10,346	$ (4,978)	$ 7,429	$ 47,022	$ (8,611)	$ (3,781)	$ 261	$ (12,180)

Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Cash flows from operating activities

Net income (loss)

$ 4,001

$ 6,398

Adjustments to reconcile net income to net cash flows from operating activities

Net realized (gains) losses

787

(833)

Amortization of premiums/discounts on fixed maturities

185

242

Amortization of purchased intangibles

211

216

Equity in net income of partially-owned entities

^[1]

(192)

(2,073)

Deferred income taxes

(7)

(268)

Unpaid losses and loss expenses

4,848

4,907

2,035

2,032

40

163

Accounts payable, accrued expenses, and other liabilities

559

408

573

45

Income taxes payable

(108)

212

Insurance and reinsurance balances receivable

(1,756)

(1,257)

Reinsurance recoverable

(1,881)

(1,071)

Deferred policy acquisition costs

(320)

(208)

Net cash flows from operating activities

(383)

(364)

8,592

8,549

Cash flows from investing activities

Purchases of fixed maturities available for sale

(23,533)

(23,028)

Purchases of fixed maturities held to maturity

(454)

(434)

Purchases of equity securities

(837)

(799)

Sales of fixed maturities available for sale

14,142

5,225

Sales of equity securities

4,453

750

Maturities and redemptions of fixed maturities available for sale

7,882

13,710

Maturities and redemptions of fixed maturities held to maturity

1,357

1,488

Net change in short-term investments

(1,106)

809

Net derivative instruments settlements

(52)

(66)

Private equity contribution

(2,194)

(1,872)

Private equity distribution

649

891

Payments to Acquire Businesses, Net of Cash Acquired

(4,982)

0

Payment, including deposit, for Huatai Group Interest

(113)

(208)

Net cash flows used for investing activities

(414)

(217)

(5,202)

(3,751)

Cash flows from financing activities

Dividends paid on Common Shares

(1,030)

(1,056)

Common Shares repurchased

(2,783)

(3,941)

Proceeds from issuance of repurchase agreements

3,552

1,405

Repayment of repurchase agreements

(2,554)

(1,405)

Proceeds from share-based compensation plans

198

239

Policyholder contract deposits and other

357

365

Policyholder contract withdrawals and other

(362)

(331)

Payment, Tax Withholding, Share-based Payment Arrangement

(100)

(81)

Net cash flows used for financing activities

(2,722)

(4,805)

Effect of foreign currency rate changes on cash and restricted cash

(215)

(33)

Net increase (decrease) in cash and restricted cash

453

(40)

Cash and restricted cash - beginning of period

1,811

1,836

Cash and restricted cash - end of period

2,264

1,796

Supplemental cash flow information

Taxes paid

964

931

Interest paid

$ 339

$ 316

[1]

Equity in net income (loss) of partially-owned entities principally comprises mark-to-market gain (loss) on private equities where we own more than three percent of $(190) million and $(69) million for the three and nine months ended September 30, 2022, respectively, and $702 million and $1,776 million, respectively, for the prior year periods. This line item also includes net income of $28 million and $83 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and nine months ended September 30, 2022, respectively, compared to $40 million and $144 million, respectively, for the prior year periods.

Statement of Cash Flows (Parenthetical) (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Cash Flows [Abstract]
Cash Acquired from Acquisition	$ 366	$ 0

General

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General

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 13 for additional information.

The interim unaudited consolidated financial statements, which include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, including internal reinsurance transactions, have been eliminated.

The 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 2021 Form 10-K.

b) Restricted cash

Restricted cash in the Consolidated balance sheets represents amounts held for the benefit of third parties and is legally or contractually restricted as to withdrawal or usage. Amounts include deposits with U.S. and non-U.S. regulatory authorities, trust funds set up for the benefit of ceding companies, and amounts pledged as collateral to meet financing arrangements.

The following table provides a reconciliation of cash and restricted cash reported within the Consolidated balance sheets that total to the amounts shown in the Consolidated statements of cash flows:


	September 30		December 31
(in millions of U.S. dollars)	2022		2021
Cash	$	2,128	$	1,659
Restricted cash	136		152
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,264	$	1,811

c) Accounting guidance not yet adopted

Targeted Improvements to the Accounting for Long-Duration Contracts

In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The amendments in this update require more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures. This standard will be effective in the first quarter of 2023 with early adoption permitted. We are currently assessing the effect of adopting this guidance on our financial condition and results of operations. We will be better able to quantify the effect of adopting this standard as we progress in our implementation process and draw nearer to the date of adoption.

Acquisitions

9 Months Ended

Sep. 30, 2022

Business Combinations [Abstract]

Acquisitions

Cigna’s Accident and Health (A&H) and Life Insurance Business in Asian Markets

On July 1, 2022, we completed the acquisition of the life and non-life insurance companies that house the personal accident, supplemental health, and life insurance business of Cigna in six Asian markets. Chubb paid $5.36 billion in cash for the operations, which include Cigna's accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong, and Indonesia, collectively referred to as Cigna's business in Asia. The reduction in the final purchase price from the original agreement reflects the impacts of rising interest rates and foreign exchange rates on acquired book value and other minor adjustments. This complementary strategic acquisition expands our presence and advances our long-term growth opportunity in Asia. Effective July 1, 2022, the results of operations of this acquired business are reported primarily in our Life Insurance segment and, to a lesser extent, our Overseas General Insurance segment.

The interim consolidated financial statements include the results of Cigna's business in Asia from July 1, 2022. The acquisition of Cigna's business in Asia generated $1,340 million of goodwill, attributable to expected growth and profitability, and $269 million of other intangible assets. None of the goodwill is expected to be deductible for income tax purposes. Additionally, the acquisition of Cigna's business in Asia generated $3,379 million of value of business acquired (VOBA). Refer to Note 7 for more information. Chubb financed the transaction through a combination of available cash and $2.0 billion in repurchase agreement transactions, of which $1.0 billion were outstanding as of September 30, 2022, and due to expire by the end of 2022.

The following table summarizes Chubb's best estimate of fair value of the assets acquired and liabilities assumed at July 1, 2022. The fair value of assets and liabilities, including intangible assets and tax-related items (classified below in Other assets and Other liabilities), are preliminary and may change with offsetting adjustments to goodwill. Chubb may make further adjustments to its purchase price allocation through the end of the permissible one-year measurement period. Chubb does not expect changes, if any, to materially affect its financial position, results of operations, or cash flows.


Preliminary estimate of assets acquired and liabilities assumed from Cigna's business in Asia	July 1
(in millions of U.S. dollars)	2022
Assets
Investments and Cash	$	5,311
Accrued investment income	33
Insurance and reinsurance balances receivable	52
Reinsurance recoverable on losses and loss expenses	3
Reinsurance recoverable on future policy benefits	82
Value of business acquired	3,379
Goodwill and other intangible assets	1,609
Other assets	655
Total assets	$	11,124
Liabilities
Unpaid losses and loss expenses	$	10
Unearned premiums	60
Future policy benefits	3,844
Insurance and reinsurance balances payable	115
Accounts payable, accrued expenses, and other liabilities	925
Deferred tax liabilities	839
Total liabilities	$	5,793

Net acquired assets, including goodwill	5,331
Total	$	11,124

Direct costs related to the acquisition were expensed as incurred. Cigna integration expenses were $23 million and $26 million for the three and nine months ended September 30, 2022, respectively, and include one-time costs that are directly attributable to third-party consulting fees, employee-related retention costs, and other professional and legal fees related to the acquisition.

The following table summarizes the results of operations of the acquired Cigna business in Asia since the acquisition date that have been included within our Consolidated statements of operations for both the three and nine months ended September 30, 2022.


(in millions of U.S. dollars)
Total revenues	$	681
Net income	$	21

The preliminary purchase price allocation to intangible assets recorded in connection with the Cigna acquisition and their related useful lives at July 1, 2022, are as follows:



(in millions of U.S. dollars)	Amount		Weighted-average useful life
Definite life
Agency distribution relationships and renewal rights	$	190	20 years
Unearned premium reserves (UPR) intangible asset	9		1 year

Indefinite life
Trademarks	70		Indefinite

Total identified intangible assets	$	269

The following table presents supplemental unaudited pro forma consolidated information for the periods indicated as though the acquisition of Cigna's business in Asia that occurred on July 1, 2022, had instead occurred on January 1, 2021. The unaudited pro forma consolidated financial information is presented for informational purposes only and is not necessarily indicative of the operating results that would have occurred had the acquisition been consummated on January 1, 2021, nor is it necessarily indicative of future operating results. Significant assumptions used to determine pro forma operating results include amortization of VOBA and other intangible assets and recognition of interest expense associated with the repurchase agreement transactions used to effect the acquisition.


	Three Months Ended				Nine Months Ended
Pro forma:	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Net premiums earned	$	11,535	$	10,788	$	31,362	$	29,406
Total revenues	$	12,132	$	11,632	$	33,253	$	32,879
Net income	$	825	$	1,894	$	4,203	$	6,649

Huatai Group

Chubb maintains a direct investment in Huatai Insurance Group Co., Ltd. (Huatai Group). Huatai Group is the parent company of, and owns 100 percent of, Huatai Property & Casualty Insurance Co., Ltd. (Huatai P&C), approximately 80 percent of Huatai Life Insurance Co., Ltd. (Huatai Life), and approximately 82 percent of Huatai Asset Management Co., Ltd. (collectively, Huatai). Huatai Group's insurance operations have more than 700 branches and approximately 19 million customers in China.

As of September 30, 2022, Chubb's aggregate ownership interest in Huatai Group was approximately 47.3 percent. Chubb applies the equity method of accounting to its investment in Huatai Group by recording its share of net income or loss in Other (income) expense in the Consolidated statements of operations.

During 2021, Chubb entered into agreements with several counterparties to purchase incremental ownership interests in Huatai Group totaling approximately 31.8 percent for approximately $2.2 billion. In connection with these agreements, Chubb paid approximately $1.1 billion in deposits. In January 2022, we paid $113 million relating to these agreements. Chubb entered into an agreement to acquire an approximate 7.1 percent ownership interest in Huatai Group for approximately $0.5 billion, which was paid as a deposit in 2020. The purchase of the additional ownership interest is contingent upon important conditions.

Investments

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Investments

3. Investments

a) Fixed maturities


September 30, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,725	$	—	$	5	$	(174)	$	2,556
Non-U.S.	26,766		(61)		77		(2,599)		24,183
Corporate and asset-backed securities	40,776		(85)		30		(4,341)		36,380
Mortgage-backed securities	18,425		(1)		1		(2,190)		16,235
Municipal	4,624		—		6		(243)		4,387
	$	93,316	$	(147)	$	119	$	(9,547)	$	83,741
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,281	$	—	$	1,281	$	—	$	(52)	$	1,229
Non-U.S.	1,046		(4)		1,042		—		(86)		956
Corporate and asset-backed securities	1,769		(27)		1,742		—		(157)		1,585
Mortgage-backed securities	1,549		(1)		1,548		—		(110)		1,438
Municipal	3,364		(1)		3,363		1		(81)		3,283
	$	9,009	$	(33)	$	8,976	$	1	$	(486)	$	8,491


December 31, 2021	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,111	$	—	$	109	$	(6)	$	2,214
Non-U.S.	25,156		(8)		953		(272)		25,829
Corporate and asset-backed securities	37,844		(6)		1,410		(185)		39,063
Mortgage-backed securities	20,080		—		532		(123)		20,489
Municipal	5,302		—		216		(5)		5,513
	$	90,493	$	(14)	$	3,220	$	(591)	$	93,108
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,213	$	—	$	1,213	$	34	$	(3)	$	1,244
Non-U.S.	1,201		(5)		1,196		66		—		1,262
Corporate and asset-backed securities	2,032		(28)		2,004		197		—		2,201
Mortgage-backed securities	1,731		(1)		1,730		74		(1)		1,803
Municipal	3,976		(1)		3,975		162		—		4,137
	$	10,153	$	(35)	$	10,118	$	533	$	(4)	$	10,647

The following table presents the amortized cost of our held to maturity securities according to S&P rating:


	September 30, 2022				December 31, 2021
(in millions of U.S. dollars, except for percentages)	Amortized cost		% of Total		Amortized cost		% of Total
AAA	$	1,710	19	%	$	2,089	21	%
AA	4,975		55	%	5,303		52	%
A	1,679		19	%	1,964		19	%
BBB	622		7	%	773		8	%
BB	23		—	%	23		—	%
Other	—		—	%	1		—	%
Total	$	9,009	100	%	$	10,153	100	%

The following table presents fixed maturities by contractual maturity:


	September 30, 2022				December 31, 2021
(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	$	3,173	$	3,173	$	4,498	$	4,498
Due after 1 year through 5 years	23,685		23,685		25,542		25,542
Due after 5 years through 10 years	26,350		26,350		28,207		28,207
Due after 10 years	14,298		14,298		14,372		14,372
	67,506		67,506		72,619		72,619
Mortgage-backed securities	16,235		16,235		20,489		20,489
	$	83,741	$	83,741	$	93,108	$	93,108
Held to maturity
Due in 1 year or less	$	1,003	$	990	$	888	$	894
Due after 1 year through 5 years	3,373		3,233		3,744		3,846
Due after 5 years through 10 years	1,743		1,677		2,242		2,349
Due after 10 years	1,309		1,153		1,514		1,755
	7,428		7,053		8,388		8,844
Mortgage-backed securities	1,548		1,438		1,730		1,803
	$	8,976	$	8,491	$	10,118	$	10,647

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 at September 30, 2022 and December 31, 2021 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 3 in the 2021 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 been in an unrealized loss position:


	0 – 12 Months				Over 12 Months				Total
September 30, 2022	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency	$	1,873	$	(145)	$	227	$	(29)	$	2,100	$	(174)
Non-U.S.	16,585		(1,480)		3,907		(588)		20,492		(2,068)
Corporate and asset-backed securities	28,533		(2,832)		2,621		(456)		31,154		(3,288)
Mortgage-backed securities	12,776		(1,459)		3,324		(728)		16,100		(2,187)
Municipal	3,905		(216)		70		(18)		3,975		(234)
Total AFS fixed maturities	$	63,672	$	(6,132)	$	10,149	$	(1,819)	$	73,821	$	(7,951)


	0 – 12 Months				Over 12 Months				Total
December 31, 2021	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. Treasury / Agency	$	363	$	(3)	$	70	$	(3)	$	433	$	(6)
Non-U.S.	6,917		(196)		1,093		(62)		8,010		(258)
Corporate and asset-backed securities	9,449		(145)		806		(32)		10,255		(177)
Mortgage-backed securities	8,086		(116)		190		(7)		8,276		(123)
Municipal	226		(5)		—		—		226		(5)
Total AFS fixed maturities	$	25,041	$	(465)	$	2,159	$	(104)	$	27,200	$	(569)

During the nine months ended September 30, 2022, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $950 million necessary due to limitations on the utilization of these losses. As part of evaluating whether it was more likely than not that we could realize 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				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	78	$	11	$	14	$	20

Provision for expected credit loss	91		3		169		8


Foreign currency revaluation	(2)		—		(2)		—
Recovery of expected credit loss	(20)		(2)		(34)		(16)
Valuation allowance for expected credit losses - end of period	$	147	$	12	$	147	$	12
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	37	$	35	$	44

Provision for expected credit loss	—		—		1		—


Recovery of expected credit loss	(1)		(2)		(3)		(9)
Valuation allowance for expected credit losses - end of period	$	33	$	35	$	33	$	35

c) Net realized gains (losses)

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Fixed maturities:



Gross realized gains	$	144	$	27	$	545	$	120
Gross realized losses	(331)		(27)		(1,158)		(99)
Net (provision for) recovery of expected credit losses	(70)		1		(133)		17
Impairment (1)	(22)		(11)		(111)		(12)
Total fixed maturities	(279)		(10)		(857)		26
Equity securities	(80)		(42)		(287)		475

Other investments	(42)		11		17		111
Foreign exchange	198		106		541		85
Investment and embedded derivative instruments	(198)		(9)		(232)		9
Fair value adjustments on insurance derivative	22		(59)		(86)		252
S&P futures	54		(4)		240		(112)
Other derivative instruments	(19)		(10)		(9)		(8)
Other (2)	(40)		(4)		(114)		(5)
Net realized gains (losses) (pre-tax)	$	(384)	$	(21)	$	(787)	$	833

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

(2)Other realized losses includes $36 million related to impairment of fixed assets. The nine months ended September 30, 2022 also includes impairment of assets related to Chubb’s Russian entities.

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


							Three Months Ended
							September 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(80)	$	(42)	$	(122)	$	(42)	$	11	$	(31)
Less: Net gains (losses) recognized from sales of securities	(12)		—		(12)		19		—		19
Unrealized gains (losses) recognized for securities still held at reporting date	$	(68)	$	(42)	$	(110)	$	(61)	$	11	$	(50)


							Nine Months Ended
							September 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(287)	$	17	$	(270)	$	475	$	111	$	586
Less: Net gains recognized from sales of securities	406		—		406		109		—		109
Unrealized gains (losses) recognized for securities still held at reporting date	$	(693)	$	17	$	(676)	$	366	$	111	$	477

d) Alternative investments

Alternative investments include partially-owned investment companies, investment funds, and limited partnerships measured at fair value using net asset value (NAV) as a practical expedient. The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments of alternative investments:


	Expected Liquidation Period of Underlying Assets	September 30, 2022				December 31, 2021
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,085	$	528	$	1,096	$	267
Real assets	2 to 13 Years	2,045		807		1,193		766
Distressed	2 to 8 Years	1,055		746		753		641
Private credit	3 to 8 Years	194		450		84		279
Traditional	2 to 14 Years	7,548		5,091		6,647		5,200
Vintage	1 to 2 Years	51		—		68		—
Investment funds	Not Applicable	414		—		267		—
		$	12,392	$	7,622	$	10,108	$	7,153

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 September 30, 2022 and December 31, 2021 are investments, primarily fixed maturities, totaling $16,202 million and $17,092 million, respectively, and cash of $136 million and $152 million, respectively.

The following table presents the components of restricted assets:


	September 30		December 31
(in millions of U.S. dollars)	2022		2021
Trust funds	$	7,992	$	9,915
Deposits with U.S. regulatory authorities	2,318		2,402
Deposits with non-U.S. regulatory authorities	2,825		2,873
Assets pledged under repurchase agreements	2,529		1,420
Other pledged assets	674		634
Total	$	16,338	$	17,244

Fair value measurements

9 Months Ended

Sep. 30, 2022

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 GAAP. We do not adjust prices obtained from pricing services. The following is a description of the valuation techniques and inputs used to determine fair values for financial instruments carried at fair value, as well as the general classification of such financial instruments pursuant to the valuation hierarchy.

Fixed maturities

We use pricing services to estimate fair value measurements for the majority of our fixed maturities. The pricing services use market quotations for fixed maturities that have quoted prices in active markets; such securities are classified within Level 1. For fixed maturities other than U.S. Treasury securities that generally do not trade on a daily basis, the pricing services prepare estimates of fair value measurements using their pricing applications or pricing models, which include available relevant market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. Additional valuation factors that can be taken into account are nominal spreads, dollar basis, and liquidity adjustments. The pricing services evaluate each asset class based on relevant market and credit information, perceived market movements, and sector news. The market inputs used in the pricing evaluation, listed in the approximate order of priority include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and economic events. The extent of the use of each input is dependent on the asset class and the market conditions. Given the asset class, the priority of the use of inputs may change, or some market inputs may not be relevant. Additionally, fixed maturities valuation is more subjective when markets are less liquid due to the lack of market based inputs (i.e., stale pricing) and may require the use of models to be priced. The lack of market based inputs may increase the potential that an investment's estimated fair value is not reflective of the price at which an actual transaction would occur. The overwhelming majority of fixed maturities are classified within Level 2 because the most significant inputs used in the pricing techniques are observable. For a small number of fixed maturities, we obtain a single broker quote (typically from a market maker). Due to the disclaimers on the quotes that indicate that the price is indicative only, we include these fair value estimates in Level 3.

Equity securities

Equity securities with active markets are classified within Level 1 as fair values are based on quoted market prices. For equity securities in markets which are less active, fair values are based on market valuations and are classified within Level 2. Equity securities for which pricing is unobservable are classified within Level 3.

Short-term investments

Short-term investments, which comprise securities due to mature within one year of the date of purchase that are traded in active markets, are classified within Level 1 as fair values are based on quoted market prices. Securities such as commercial paper and discount notes are classified within Level 2 because these securities are typically not actively traded due to their approaching maturity, and as such, their cost approximates fair value. Short-term investments for which pricing is unobservable are classified within Level 3.

Other investments

Fair values for the majority of Other investments including investments in partially-owned investment companies, investment funds, and limited partnerships are based on their respective NAV and are excluded from the fair value hierarchy table below. Certain of our long-duration contracts are supported by assets that do not qualify for separate account reporting under GAAP. These assets comprise mutual funds, classified within Level 1 in the valuation hierarchy on the same basis as other equity securities traded in active markets. Other investments also include equity securities, classified within Level 1 and fixed maturities, classified within Level 2, held in rabbi trusts maintained by Chubb for deferred compensation plans and supplemental retirement plans and are classified within the valuation hierarchy on the same basis as other equity securities and fixed maturities.

Securities lending collateral

The underlying assets included in Securities lending collateral in the Consolidated balance sheets are fixed maturities which are classified in the valuation hierarchy on the same basis as other fixed maturities. Excluded from the valuation hierarchy is the corresponding liability related to Chubb’s obligation to return the collateral plus interest as it is reported at contract value and not fair value in the Consolidated balance sheets.

Investment derivatives not designated as hedging instruments

Actively traded investment derivative instruments, including futures, options, and forward contracts are classified within Level 1 as fair values are based on quoted market prices. The fair value of cross-currency swaps and interest rate swaps is based on

market valuations and is classified within Level 2. Investment derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Other derivative instruments

We maintain positions in exchange-traded equity futures contracts designed to limit exposure to a severe equity market decline, which would cause an increase in expected claims and, therefore, an increase in future policy benefit reserves for our guaranteed minimum death benefits (GMDB) and an increase in the fair value liability for our guaranteed living benefits (GLB) reinsurance business. Our positions in exchange-traded equity futures contracts are classified within Level 1. The fair value of the majority of the remaining positions in other derivative instruments is based on significant observable inputs including equity security and interest rate indices. Accordingly, these are classified within Level 2. Other derivative instruments based on unobservable inputs are classified within Level 3. Other derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Derivatives designated as hedging instruments

Certain of our derivatives are cross-currency swaps designated as fair value and net investment hedging instruments. The fair value of cross-currency swaps and interest rate swaps is based on market valuations and is classified within Level 2. Investment derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Separate account assets

Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. Separate account assets comprise mutual funds classified within Level 1 in the valuation hierarchy on the same basis as other equity securities traded in active markets. Separate account assets also include fixed maturities classified within Level 2 because the most significant inputs used in the pricing techniques are observable. Excluded from the valuation hierarchy are the corresponding liabilities as they are reported at contract value and not fair value in the Consolidated balance sheets. Separate account assets are recorded in Other assets in the Consolidated balance sheets.

Guaranteed living benefits

The GLB arises from life reinsurance programs covering living benefit guarantees whereby we assume the risk of guaranteed minimum income benefits (GMIB) associated with variable annuity contracts. GLBs are recorded in Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. For GLB reinsurance, Chubb estimates fair value using an internal valuation model which includes current market information and estimates of policyholder behavior. All of the treaties contain claim limits, which are factored into the valuation model. The fair value depends on a number of factors, including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. Because of the significant use of unobservable inputs including policyholder behavior, GLB reinsurance is classified within Level 3.

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


September 30, 2022	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	2,032	$	524	$	—	$	2,556
Non-U.S.	—		23,677		506		24,183
Corporate and asset-backed securities	—		34,084		2,296		36,380
Mortgage-backed securities	—		16,216		19		16,235
Municipal	—		4,387		—		4,387
	2,032		78,888		2,821		83,741
Equity securities	761		—		83		844
Short-term investments	2,782		1,749		3		4,534
Other investments (1)	506		381		—		887
Securities lending collateral	—		1,626		—		1,626
Investment derivatives not designated as hedging instruments	129		—		—		129
Other derivative instruments	109		—		—		109
Derivatives designated as hedging instruments	—		71		—		71
Separate account assets	4,810		81		—		4,891
Total assets measured at fair value (1)	$	11,129	$	82,796	$	2,907	$	96,832
Liabilities:
Investment derivatives not designated as hedging instruments	$	306	$	—	$	—	$	306

Derivatives designated as hedging instruments	—		101		—		101
GLB (2)	—		—		784		784
Total liabilities measured at fair value	$	306	$	101	$	784	$	1,191

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,392 million, policy loans of $316 million, and other investments of $50 million at September 30, 2022 measured using NAV as a practical expedient.

(2)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


December 31, 2021	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	1,680	$	534	$	—	$	2,214
Non-U.S.	—		25,196		633		25,829
Corporate and asset-backed securities	—		37,014		2,049		39,063
Mortgage-backed securities	—		20,463		26		20,489
Municipal	—		5,513		—		5,513
	1,680		88,720		2,708		93,108
Equity securities	4,705		—		77		4,782
Short-term investments	1,744		1,395		7		3,146
Other investments (1)	286		481		—		767
Securities lending collateral	—		1,831		—		1,831
Investment derivative instruments	58		—		—		58
Separate account assets	5,461		99		—		5,560
Total assets measured at fair value (1)	$	13,934	$	92,526	$	2,792	$	109,252
Liabilities:
Investment derivative instruments	$	166	$	—	$	—	$	166
Other derivative instruments	16		—		—		16
GLB (2)	—		—		745		745
Total liabilities measured at fair value	$	182	$	—	$	745	$	927

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $10,108 million, policy loans of $243 million and other investments of $51 million at December 31, 2021, measured using NAV as a practical expedient.

(2)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

Level 3 financial instruments

The following table presents the significant unobservable inputs used in the Level 3 liability valuations. Excluded from the table below are inputs used to determine the fair value of Level 3 assets which are based on single broker quotes and contain no quantitative unobservable inputs developed by management. The majority of our fixed maturities classified as Level 3 used external pricing when markets are less liquid due to the lack of market inputs (i.e., stale pricing, broker quotes).

(in millions of U.S. dollars, except for percentages)

Fair Value

Valuation
Technique

Significant
Unobservable Inputs

Ranges

Weighted Average (1)

September 30, 2022

December 31, 2021

GLB (1)

$

784

$

745

Actuarial model

Lapse rate

3% – 30%

3.5

%

Annuitization rate

0% – 100%

4.6

%

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

The most significant policyholder behavior assumptions include lapse rates and the GMIB annuitization rates. Assumptions regarding lapse rates and GMIB annuitization rates differ by treaty, but the underlying methodologies to determine rates applied to each treaty are comparable.

A lapse rate is the percentage of in-force policies surrendered in a given calendar year. All else equal, as lapse rates increase, ultimate claim payments will decrease.

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

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. For treaties with limited experience, rates are established by blending the experience with data received from other ceding companies. The model and related assumptions are regularly re-evaluated by management and enhanced, as appropriate, based upon additional experience obtained related to policyholder behavior and availability of updated information such as market conditions, market participant assumptions, and demographics of in-force annuities. In the third quarter of 2022, we completed a review of policyholder behavior related to annuitizations, partial withdrawals, lapses, and mortality for our variable annuity reinsurance business. As a result, we refined our policyholder behavior assumptions (mainly those relating to annuitizations and partial withdrawals). This refinement increased the fair value of GLB liabilities, and resulted in a realized loss of approximately $40 million. We also made routine model refinements to the internal valuation model which had an insignificant impact on net income. For detailed information on our lapse and annuitization rate assumptions, refer to Note 4 to the Consolidated Financial Statements of our 2021 Form 10-K.

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):


	Assets										Liabilities
Three Months Ended September 30, 2022 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities			Short-term investments			GLB (1)
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Transfers into Level 3	—		2		—			—			—			—
Transfers out of Level 3	—		(4)		—			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(34)		(16)		—			—			—			—
Net Realized Gains/Losses	(4)		(9)		—			3			(1)			(22)
Purchases	39		164		4			3			1			—
Sales	(19)		(8)		—			(4)			—			—
Settlements	(25)		(94)		(4)			—			(6)			—
Other	—		—		—			—			—			(26)
Balance, end of period	$	506	$	2,296	$	19		$	83		$	3		$	784
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(1)	$	(3)	$	—		$	3		$	(1)		$	(22)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(35)	$	(19)	$	—		$	—		$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


		Assets														Liabilities
Three Months Ended September 30, 2021 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments		Other investments			GLB (1)
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Transfers into Level 3		22			45			—		—		—		—			—
Transfers out of Level 3		—			—			—		—		—		(10)			—
Change in Net Unrealized Gains/Losses in OCI		(15)			2			—		—		—		—			—

Net Realized Gains/Losses		(3)			—			—		1		—		—			59

Purchases		60			272			17		4		7		—			—
Sales		(19)			(13)			—		(4)		—		—			—
Settlements		(27)			(135)			(11)		—		—		—			—
Other		—			—			—		—		—		—			(1)
Balance, end of period		$	660		$	1,859		$	53	$	79	$	10	$	—		$	818
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	—		$	—	$	(1)	$	—	$	—		$	59
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(15)		$	—		$	—	$	—	$	—	$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


	Assets										Liabilities
Nine Months Ended September 30, 2022 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities			Short-term investments			GLB (1)
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	633	$	2,049	$	26		$	77		$	7		$	745
Transfers into Level 3	23		41		—			1			—			—
Transfers out of Level 3	(23)		(97)		(5)			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(88)		(68)		—			—			—			—
Net Realized Gains/Losses	(6)		(9)		—			7			(1)			86
Purchases	108		658		4			6			8			—
Sales	(44)		(59)		—			(8)			—			—
Settlements	(97)		(219)		(6)			—			(11)			—
Other	—		—		—			—			—			(47)
Balance, end of period	$	506	$	2,296	$	19		$	83		$	3		$	784
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(3)	$	(4)	$	—		$	6		$	(1)		$	86
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(89)	$	(71)	$	—		$	—		$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


		Assets														Liabilities
Nine Months Ended September 30, 2021 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments		Other investments			GLB (1)
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	546		$	1,573		$	60	$	73	$	5	$	10		$	1,089
Transfers into Level 3		22			91			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		(10)			—
Change in Net Unrealized Gains/Losses in OCI		(2)			14			—		—		—		—			—

Net Realized Gains/Losses		—			3			—		8		—		—			(252)

Purchases		235			681			18		11		10		—			—
Sales		(35)			(88)			(1)		(13)		—		—			—
Settlements		(96)			(412)			(24)		—		(5)		—			—
Other		—			—			—		—		—		—			(19)
Balance, end of period		$	660		$	1,859		$	53	$	79	$	10	$	—		$	818
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	3		$	—	$	5	$	—	$	—		$	(252)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	2		$	17		$	—	$	—	$	—	$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

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 the 2021 Form 10-K for information on the fair value methods and assumptions for investments in partially-owned insurance companies, short-term and long-term debt, repurchase agreements, and trust-preferred securities.

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


September 30, 2022	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,157	$	72	$	—	$	1,229	$	1,281
Non-U.S.	—		956		—		956		1,042
Corporate and asset-backed securities	—		1,585		—		1,585		1,742
Mortgage-backed securities	—		1,438		—		1,438		1,548
Municipal	—		3,283		—		3,283		3,363
Total assets	$	1,157	$	7,334	$	—	$	8,491	$	8,976
Liabilities:
Repurchase agreements	$	—	$	2,417	$	—	$	2,417	$	2,417
Short-term debt	—		1,469		—		1,469		1,475
Long-term debt	—		12,067		—		12,067		14,044
Trust preferred securities	—		387		—		387		308
Total liabilities	$	—	$	16,340	$	—	$	16,340	$	18,244


December 31, 2021	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,192	$	52	$	—	$	1,244	$	1,213
Non-U.S.	—		1,262		—		1,262		1,196
Corporate and asset-backed securities	—		2,201		—		2,201		2,004
Mortgage-backed securities	—		1,803		—		1,803		1,730
Municipal	—		4,137		—		4,137		3,975
Total assets	$	1,192	$	9,455	$	—	$	10,647	$	10,118
Liabilities:
Repurchase agreements	$	—	$	1,406	$	—	$	1,406	$	1,406
Short-term debt	—		1,019		—		1,019		999
Long-term debt	—		16,848		—		16,848		15,169
Trust preferred securities	—		460		—		460		308
Total liabilities	$	—	$	19,733	$	—	$	19,733	$	17,882

Liability for Claims and Claims Adjustment Expense [Abstract]

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.

+ References + Details

Reinsurance

9 Months Ended

Sep. 30, 2022

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance


	September 30, 2022				December 31, 2021
(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	$	17,380	$	297	$	16,184	$	271
Reinsurance recoverable on paid losses and loss expenses	1,374		55		1,182		58
Reinsurance recoverable on losses and loss expenses	$	18,754	$	352	$	17,366	$	329
Reinsurance recoverable on policy benefits	$	297	$	4	$	213	$	4

(1)Net of valuation allowance for uncollectible reinsurance.

The increase in reinsurance recoverable on losses and loss expenses was primarily due to prior period development in certain lines and higher underlying ceded exposures due to premium growth, partially offset by foreign currency movement.

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


	Nine Months Ended
	September 30
(in millions of U.S. dollars)	2022		2021
Valuation allowance for uncollectible reinsurance - beginning of period	$	329	$	314
Provision for uncollectible reinsurance	30		16
Write-offs charged against the valuation allowance	(4)		(4)
Foreign exchange revaluation	(3)		(1)

Valuation allowance for uncollectible reinsurance - end of period	$	352	$	325

For additional information, refer to Note 1 d) to the Consolidated Financial Statements of our 2021 Form 10-K.

Unpaid losses and loss expenses

9 Months Ended

Sep. 30, 2022

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:


	Nine Months Ended
	September 30
(in millions of U.S. dollars)	2022		2021
Gross unpaid losses and loss expenses – beginning of period	$	72,943	$	67,811
Reinsurance recoverable on unpaid losses – beginning of period (1)	(16,184)		(14,647)
Net unpaid losses and loss expenses – beginning of period	56,759		53,164


Net losses and loss expenses incurred in respect of losses occurring in:
Current year	18,426		17,556
Prior years (2)	(952)		(868)
Total	17,474		16,688
Net losses and loss expenses paid in respect of losses occurring in:
Current year	5,104		4,771
Prior years	9,217		7,922
Total	14,321		12,693
Foreign currency revaluation and other	(1,300)		(78)
Net unpaid losses and loss expenses – end of period	58,612		57,081
Reinsurance recoverable on unpaid losses (1)	17,380		15,550
Gross unpaid losses and loss expenses – end of period	$	75,992	$	72,631

(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, and earned premiums totaling $243 million and $87 million for the nine months ended September 30, 2022 and 2021, respectively.

Gross and net unpaid losses and loss expenses increased $3,049 million and $1,853 million, respectively, for the nine months ended September 30, 2022, driven by an increase in underlying exposure due to premium growth and net catastrophe losses, partially offset by favorable prior period development, and favorable foreign exchange movement.

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 September 30						Nine Months Ended September 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
2022
North America Commercial P&C Insurance	$	(29)	$	(137)	$	(166)	$	(315)	$	(246)	$	(561)
North America Personal P&C Insurance	—		(133)		(133)		—		(187)		(187)
North America Agricultural Insurance	—		9		9		—		(17)		(17)
Overseas General Insurance	(5)		—		(5)		(5)		(233)		(238)
Global Reinsurance	—		—		—		(7)		29		22
Corporate	73		—		73		272		—		272
Total	$	39	$	(261)	$	(222)	$	(55)	$	(654)	$	(709)
2021
North America Commercial P&C Insurance	$	(101)	$	(56)	$	(157)	$	(243)	$	(197)	$	(440)
North America Personal P&C Insurance	—		(182)		(182)		—		(266)		(266)
North America Agricultural Insurance	—		7		7		—		5		5
Overseas General Insurance	(13)		(15)		(28)		(8)		(201)		(209)
Global Reinsurance	(4)		—		(4)		(26)		15		(11)
Corporate	43		—		43		140		—		140
Total	$	(75)	$	(246)	$	(321)	$	(137)	$	(644)	$	(781)

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 September 30, 2022, included $164 million from lower than expected loss experience in workers’ compensation lines and $66 million, net of premium adjustments, from lower claims activity in large multi-line loss sensitive accounts. The favorable development was partially offset by net adverse development of $58 million from higher than expected claims severity in commercial auto liability, and $71 million from commercial umbrella/excess portfolios. Net favorable development on our short-tail businesses primarily included $132 million from property and marine portfolios, where paid and reported loss activity for the most recent accident years was lower than expected. Net favorable development for the nine months ended September 30, 2022, also included favorable development in workers’ compensation lines due to updates to loss development factors and our annual assessment of multi-claimant events, including industrial accidents.

Net favorable development for the three and nine months ended September 30, 2021, included $97 million and $255 million from workers' compensation lines due to lower than expected loss experience. This favorable development for the nine months ended September 30, 2021, from workers' compensation lines also included related updates to loss development factors and our annual assessment of multi-claimant events, including industrial accidents. The favorable development for the nine months ended September 30, 2021, was partially offset by net adverse development in commercial auto liability of $74 million and commercial excess and umbrella portfolios of $74 million.

North America Personal P&C Insurance. Net favorable development for the three and nine months ended September 30, 2022, included favorable development in the homeowners and valuables lines of business, driven by lower than expected claims reserve development.

Net favorable development for the three and nine months ended September 30, 2021, included favorable development in homeowners and valuables, which experienced lower than expected loss development.

Overseas General Insurance. Net favorable development for the three months ended September 30, 2022, included lower than expected paid and reported loss activity of $82 million in casualty lines, including primary and excess lines in Continental Europe, the U.K., and Asia Pacific, and $34 million in environmental lines. The favorable development was partially offset by net adverse development of $114 million from financial lines, including Directors and Officers (D&O) due to a combination of higher than expected development on specific claims and increased expected future development in the U.K., Continental Europe, Asia Pacific, and London wholesale business. Net favorable development for the nine months ended September 30, 2022, also included net favorable development of $75 million in A&H lines, $67 million in property lines, and $53 million in personal lines.

Net favorable development for the three months ended September 30, 2021, included favorable development in casualty lines partially offset by adverse development in financial lines, primarily D&O. Net favorable development for the nine months ended September 30, 2021, also included favorable development in A&H and property lines, the latter of which included a $21 million favorable reduction in COVID-19 estimates.

Corporate. Net adverse development for the three months ended September 30, 2022 and 2021, included adverse development for environmental liabilities. Net adverse development for the nine months ended September 30, 2022 and 2021, also included adverse development for molestation claims of $155 million and $68 million, respectively.

Molestation claims

In the third quarter of 2022, the bankruptcy court approved the agreement-in-principle regarding the bankruptcy of the Boy Scouts of America (BSA), which will proceed to further approval before the U.S. District Court. The terms of the agreement are consistent with the 2021 10-K disclosure. Of the $800 million that will be paid per the agreement, we paid $200 million during the third quarter and expect to pay the remaining $600 million liability within the next twelve months. Refer to the 2021 10-K for additional information on molestation claims.

Value of Business Acquired, Goodwill, and Other Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Value of business acquired, Goodwill, and Other intangible assets

Value of business acquired

Value of business acquired (VOBA) represents the fair value of the future profits of in-force long duration contracts, and is amortized in relation to the profit emergence of the underlying contracts, in a manner similar to deferred acquisition costs. The VOBA calculation is based on many factors including mortality, morbidity, persistency, investment yields, expenses, and the discount rate, with the discount rate being the most significant factor.

The following table presents a roll-forward of VOBA:


	Nine months ended
	September 30
(in millions of U.S. dollars)	2022
Balance, beginning of period	$	236
Acquisition of Cigna's business in Asia	3,379
Amortization of VOBA (1)	(107)
Foreign exchange revaluation and other	(184)
Balance, end of period	$	3,324

(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.

During the three months ended September 30, 2022, amortization of VOBA associated with the acquisition of Cigna’s business in Asia was $93 million pre-tax. The expected pre-tax amortization expense related to VOBA associated with the acquisition of Cigna’s business in Asia for the fourth quarter of 2022 at current exchange rates is approximately $100 million. Amortization of VOBA beyond next quarter will be determined in conjunction with the adoption of long-duration accounting guidance effective January 1, 2023. Refer to Note 1 for more information.

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, 2021	$	6,972	$	2,240	$	134	$	4,653	$	371	$	843	$	15,213
Acquisition of Cigna's business in Asia	—		—		—		103		—		1,237		1,340
Foreign exchange revaluation and other	(11)		(4)		—		(431)		—		—		(446)
Balance at September 30, 2022	$	6,961	$	2,236	$	134	$	4,325	$	371	$	2,080	$	16,107

Other intangible assets

Other intangible assets that are subject to amortization principally relate to agency distribution relationships, renewal rights, and patents, and other intangible assets that are not subject to amortization principally relate to trademarks.


(in millions of U.S. dollars)	September 30 2022		December 31 2021
Subject to amortization	$	2,417	$	2,508
Not subject to amortization	2,966		2,947
Total	$	5,383	$	5,455

The following table presents, as of September 30, 2022, the expected pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the fourth quarter of 2022 and for the next five years:



For the Years Ending December 31 (in millions of U.S. dollars)	Associated with the Cigna acquisition in Asia (1)		Associated with the Chubb acquisition (2)		Other intangible assets (3)		Total amortization of purchased intangibles
Fourth quarter of 2022	$	1	$	45	$	25	$	71
2023	2		170		96		268
2024	4		153		89		246
2025	5		137		87		229
2026	6		123		84		213
2027	9		108		81		198
Total	$	27	$	736	$	462	$	1,225

(1)Recorded in Life Insurance segment.

(2)Recorded in Corporate.

(3)Recorded in applicable segment(s) that acquired the intangible assets.

Commitments, contingencies, and guarantees

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

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. Investment derivative instruments and derivatives designated as hedges are recorded in either Other assets (OA) or Accounts payable, accrued expenses, and other liabilities (AP); convertible bonds are recorded in Fixed maturities available for sale (FM AFS); and convertible equity securities are recorded in Equity securities (ES) in the Consolidated balance sheets. These are the most numerous and frequent derivative transactions. In addition, Chubb, 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.

Under reinsurance programs covering GLBs, Chubb assumes the risk of GLBs, principally GMIB, associated with variable annuity contracts. The GMIB risk is triggered if, at the time the contract holder elects to convert the accumulated account value to a periodic payment stream (annuitize), the accumulated account value is not sufficient to provide a guaranteed minimum level of monthly income. The GLB reinsurance product meets the definition of a derivative instrument and is classified within AP. Chubb also generally maintains positions in exchange-traded equity futures contracts on equity market indices to limit equity exposure in the GMDB and GLB book of business.

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


				September 30, 2022								December 31, 2021
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision			Fair Value					Notional Value/ 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)	$	72	$	(277)	$	5,211		$	25		$	(139)	$	6,182
Options/Futures contracts on notes, bonds, and equities	OA / (AP)	57		(29)		1,366			33			(27)		12,944
Convertible securities (1)	FM AFS / ES	32		—		41			11			—		12
		$	161	$	(306)	$	6,618		$	69		$	(166)	$	19,138
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	107	$	—	$	952		$	—		$	(16)	$	905
Other	OA / (AP)	2		—		301			—			—		3
		$	109	$	—	$	1,253		$	—		$	(16)	$	908
GLB (3)	(AP)	$	—	$	(784)	$	2,210		$	—		$	(745)	$	1,432
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	—	$	(94)	$	1,501		$	—		$	—	$	—
Cross-currency swaps - net investment hedges	OA / (AP)	71		(7)		1,501			—			—		—
		$	71	$	(101)	$	3,002		$	—		$	—	$	—

(1)Includes fair value of embedded derivatives.

(2)Related to GMDB and GLB book of business.

(3)Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.

At September 30, 2022, and December 31, 2021, net derivative liabilities of $98 million and $123 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 designated certain derivatives as fair value hedges and net investment hedges for accounting purposes to hedge for 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.

(i) Cross-currency swaps - fair value hedges

In September 2022, Chubb entered into certain cross-currency swaps designated as fair value hedges. The objective of these cross-currency swaps is to hedge the foreign currency risk on our Euro denominated debt by converting cash flows back into the U.S dollar.

These fair value hedges are carried at fair value. The hedges are expected to be highly effective, with gains or losses on the fair value hedges offsetting the foreign currency remeasurement on the hedged Euro denominated senior notes within Net realized gains (losses) on the Consolidated statements of operations. The remaining change in fair value is recorded in Other comprehensive income (OCI).

The carrying value of hedged Euro denominated senior notes, recorded within Long-term debt on the Consolidated balance sheets, was $1.5 billion as of September 30, 2022. This carrying value includes a $32 million gain from foreign currency remeasurement since the inception of the hedge. For the three and nine months ended September 30, 2022, $94 million of losses on fair value hedges were recognized in OCI, of which $32 million of losses were reclassified from OCI to Net realized gains (losses).

(ii) Cross-currency swaps - net investment hedges

In September 2022, Chubb entered into 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, and Swiss franc. 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. The mark-to-market adjustments for foreign currency changes will remain until the underlying hedge subsidiary is deconsolidated or if hedge accounting is discontinued.

For the three and nine months ended September 30, 2022, $64 million of gains on net investment hedges were recognized in CTA.

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(247)	$	(15)	$	(515)	$	(37)

All other futures contracts, options, and equities	49		6		285		45
Convertible securities (1)	—		—		(2)		1

Total investment and embedded derivative instruments	$	(198)	$	(9)	$	(232)	$	9
GLB and other derivative instruments:
GLB	$	22	$	(59)	$	(86)	$	252
Futures contracts on equities (2)	54		(4)		240		(112)
Other	(19)		(10)		(9)		(8)
Total GLB and other derivative instruments	$	57	$	(73)	$	145	$	132
	$	(141)	$	(82)	$	(87)	$	141

(1)Includes embedded derivatives.

(2)Related to GMDB and GLB 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 future policy benefit reserves for GMDB and an increase in the fair value liability for GLB reinsurance business.

Options

An option contract conveys to the holder the right, but not the obligation, to purchase or sell a specified amount or value of an underlying security at a fixed price. Option contracts are used in our investment portfolio as protection against unexpected shifts in interest rates, which would affect the duration of the fixed maturity portfolio. By using options in the portfolio, the overall interest rate sensitivity of the portfolio can be reduced. Option contracts may also be used as an alternative to futures contracts in the synthetic strategy as described above.

The price of an option is influenced by the underlying security, 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 enter into crop derivative contracts to protect underwriting results in the event of a significant decline in commodity prices.

(iii) Convertible security investments

A convertible security is a debt instrument or preferred stock that can be converted into a predetermined amount of the issuer’s equity. The convertible option is an embedded derivative within the host instruments which are classified in the investment portfolio as either available for sale or as an equity security. Chubb purchases convertible securities for their total return and not specifically for the conversion feature.

(iv) TBA

By acquiring TBAs, we make a commitment to purchase a future issuance of mortgage-backed securities. For the period between purchase of the TBAs and issuance of the underlying security, we account for our position as a derivative in the Consolidated Financial Statements. Chubb purchases TBAs, from time to time, both for their total return and for the flexibility they provide related to our mortgage-backed security strategy.

(v) GLB

Under the GLB program, as the assuming entity, Chubb is obligated to provide coverage until the expiration or maturity of the underlying deferred annuity contracts or the expiry of the reinsurance treaty. The GLB is accounted for as a derivative and is recorded at fair value. Fair value represents management’s estimate of an exit price and thus, includes a risk margin. We may recognize a realized loss for other changes in fair value due to adverse changes in the capital markets (e.g., declining interest rates and/or declining U.S. and/or international equity markets) and changes in actual or estimated future policyholder behavior (e.g., increased annuitization or decreased lapse rates) although we expect the business to be profitable.

To mitigate adverse changes in the capital markets, we maintain positions in exchange-traded equity futures contracts, as noted under section "(ii) Futures" above. These futures increase in fair value when the S&P 500 index decreases (and decrease in fair value when the S&P 500 index increases). The net impact of gains or losses related to changes in fair value of the GLB liability and the exchange-traded equity futures are included in Net realized gains (losses).

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

	September 30, 2022		December 31, 2021
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	857	$	931
U.S. Treasury / Agency	93		128
Non-U.S.	641		752
Corporate and asset-backed securities	35		12
Mortgage-backed securities	—		1

Equity securities	—		7

	$	1,626	$	1,831
Gross amount of recognized liability for securities lending payable	$	1,626	$	1,831

At September 30, 2022, and December 31, 2021, our repurchase agreement obligations of $2,417 million and $1,406 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase obligations. The fair value of the underlying securities sold remains in Fixed maturities available for sale, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets.

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


	Remaining contractual maturity
	September 30, 2022								December 31, 2021
	Up to 30 Days		30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	66	$	10	$	—	$	76	$	—	$	29	$	29
U.S. Treasury / Agency	—		102		—		102		103		—		103


Mortgage-backed securities	350		1,530		471		2,351		—		1,288		1,288
	$	416	$	1,642	$	471	$	2,529	$	103	$	1,317	$	1,420
Gross amount of recognized liabilities for repurchase agreements							$	2,417					$	1,406
Difference (1)							$	112					$	14

(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) Fixed maturities

At September 30, 2022, and December 31, 2021, commitments to purchase fixed income securities over the next several years were $630 million and $771 million, respectively.

f) Other investments

At September 30, 2022, included in Other investments in the Consolidated balance sheet are investments in limited partnerships and partially-owned investment companies with a carrying value of $12.0 billion. In connection with these investments, we have commitments that may require funding of up to $7.6 billion over the next several years. At December 31, 2021, these investments had a carrying value of $9.8 billion with a commitment that may require funding of up to $7.2 billion.

g) Income taxes

At September 30, 2022, $57 million of unrecognized tax benefits remain outstanding. It is reasonably possible that, over the next twelve months, the amount of unrecognized tax benefits may change resulting from the re-evaluation of unrecognized tax benefits arising from examinations by taxing authorities, settlements, and the lapses of statutes of limitations. With few exceptions, Chubb is no longer subject to income tax examinations for years before 2012.

h) Legal proceedings

Our insurance subsidiaries are subject to claims litigation involving disputed interpretations of policy coverages and, in some jurisdictions, direct actions by allegedly-injured persons seeking damages from policyholders. These lawsuits, involving claims on policies issued by our subsidiaries which are typical to the insurance industry in general and in the normal course of business, are considered in our loss and loss expense reserves. In addition to claims litigation, we are subject to lawsuits and regulatory actions in the normal course of business that do not arise from or directly relate to claims on insurance policies. This category of business litigation typically involves, among other things, allegations of underwriting errors or misconduct, employment claims, regulatory activity, or disputes arising from our business ventures. In the opinion of management, our ultimate liability for these matters could be, but we believe is not likely to be, material to our consolidated financial condition and results of operations.

i) Lease commitments

At September 30, 2022, and December 31, 2021, the right-of-use asset was $458 million and $445 million, respectively, recorded within Other assets and the lease liability was $486 million and $484 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.

j) Letters of credit

In October 2022, Chubb entered into a new group syndicated credit facility through 2027 with capacity of $3.0 billion. This facility consolidated our three existing syndicated facilities with capacity of $2.7 billion.

Shareholders' equity

9 Months Ended

Sep. 30, 2022

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 September 30, 2022, our Common Shares had a par value of CHF 24.15 per share.

At our May 2022 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.32 per share, expected to be paid in four quarterly installments of $0.83 per share after the general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board of Directors (Board) will determine the record and payment dates at which the annual dividend may be paid until the date of the 2023 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion.

At our May 2021 and 2020 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.20 per share and $3.12 per share, respectively, which were paid in four quarterly installments of $0.80 per share and $0.78 per share, respectively, at dates determined by the 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						Nine Months Ended
	September 30						September 30
	2022			2021			2022			2021
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.78	$	0.83	0.73	$	0.80	2.32	$	2.46	2.14	$	2.38

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. At the Chubb Limited Extraordinary General Meeting of Shareholders, held on November 3, 2021, shareholders approved the cancellation of 14,465,400 shares repurchased under our share repurchase program during the first six months of 2021. The capital reduction by cancellation of shares was subject to publication requirements and a two-month waiting period in accordance with Swiss law and became effective on January 17, 2022. At our May 2022 annual general meeting, held on May 19, 2022, our shareholders approved the cancellation of 13,179,100 shares purchased under our share repurchase program during the last six months of 2021. The capital reduction by cancellation of shares was subject to publication requirements and a two-month waiting period in accordance with Swiss law and became effective on August 4, 2022. During the nine months ended September 30, 2022, 14,022,728 shares were repurchased, 27,644,500 shares were canceled, and 2,470,600 net shares were issued under employee share-based compensation plans. At September 30, 2022, 31,356,130 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations

The Board has authorized share repurchase programs as follows:

•$1.5 billion of Chubb Common Shares from November 19, 2020 through December 31, 2021;

•$1.0 billion increase to the November 2020 share repurchase program to a total of $2.5 billion in February 2021, effective through December 31, 2021;

•One-time incremental share repurchase program of $5.0 billion of Chubb Common Shares from July 19, 2021 through June 30, 2022; and

•$2.5 billion of Chubb Common Shares from May 19, 2022 through June 30, 2023.

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				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share data)	2022		2021		2022		2021
Number of shares repurchased	3,676,528		8,412,000		14,022,728		22,877,400
Cost of shares repurchased	$	685	$	1,516	$	2,815	$	3,956
Repurchase authorization remaining at end of period	$	1,816	$	3,551	$	1,816	$	3,551

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(5,713)	$	3,342	$	2,256	$	4,673
Change in period, before reclassification from AOCI (before tax)	(3,324)		(564)		(12,898)		(2,151)
Amounts reclassified from AOCI (before tax)	279		10		857		(26)
Change in period, before tax	(3,045)		(554)		(12,041)		(2,177)
Income tax benefit	147		98		1,174		390
Balance – end of period, net of tax	(8,611)		2,886		(8,611)		2,886
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,821)		(1,323)		(2,146)		(1,637)


Change in period, before tax	(966)		(414)		(1,676)		(84)
Income tax benefit	6		23		41		7
Balance – end of period, net of tax	(3,781)		(1,714)		(3,781)		(1,714)
Fair value hedging instruments
Balance – beginning of period, net of tax	—		—		—		—
Change in period, before reclassification from AOCI (before tax)	(94)		—		(94)		—
Amounts reclassified from AOCI (before tax)	32		—		32		—
Change in period, before tax	(62)		—		(62)		—
Income tax benefit	13		—		13		—
Balance – end of period, net of tax	(49)		—		(49)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	259		(197)		240		(167)
Change in period, before tax	3		4		27		(33)
Income tax (expense) benefit	(1)		(1)		(6)		6
Balance – end of period, net of tax	261		(194)		261		(194)
Accumulated other comprehensive income (loss)	$	(12,180)	$	978	$	(12,180)	$	978

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


	Three Months Ended				Nine Months Ended				Consolidated Statement of Operations Location
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Fixed maturities available for sale	$	(279)	$	(10)	$	(857)	$	26	Net realized gains (losses)
Income tax (expense) benefit	39		3		138		5		Income tax expense
	$	(240)	$	(7)	$	(719)	$	31	Net income




Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(32)	$	—	$	(32)	$	—	Net realized gains (losses)

Income tax (expense) benefit	7		—		7		—		Income tax expense
	$	(25)	$	—	$	(25)	$	—	Net income
Total amounts reclassified from AOCI	$	(265)	$	(7)	$	(744)	$	31

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Compensation and Employee Benefit Plans [Text Block]

Share-based compensation	9 Months Ended
Share-based compensation	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensationThe 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 February 24, 2022, Chubb granted 1,699,554 stock options with a weighted-average grant date fair value of $35.21 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-based restricted stock awards. Chubb generally grants service-based restricted stock and restricted stock units with a 4-year vesting period, based on a graded vesting schedule. The performance-based restricted stock awards granted comprise target awards and premium awards that cliff vest at the end of a 3-year performance period based on both tangible book value (shareholders' equity less goodwill and intangible assets, 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 our peer group. The restricted stock is principally granted at market close price on the grant date. On February 24, 2022, Chubb granted 807,194 service-based restricted stock awards, 295,301 service-based restricted stock units, and 294,229 performance-based stock awards to employees and officers with a grant date fair value of $199.03 each. Each restricted stock unit represents our obligation to deliver to the holder one Common Share upon vesting.

Postretirement benefits

9 Months Ended

Sep. 30, 2022

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
	2022				2021				2022		2021
Three Months Ended September 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	1	$	—	$	1	$	—	$	1
Non-service cost (benefit):
Interest cost	21		5		18		5		—		1
Expected return on plan assets	(70)		(11)		(64)		(10)		—		(1)
Amortization of net actuarial loss	—		—		—		—		—		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		1		—		—		—
Total non-service cost (benefit)	(49)		(6)		(45)		(5)		—		—
Net periodic benefit cost (benefit)	$	(49)	$	(5)	$	(45)	$	(4)	$	—	$	1


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2022				2021				2022		2021
Nine Months Ended September 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	3	$	—	$	3	$	—	$	1
Non-service cost (benefit):
Interest cost	64		17		53		14		1		1
Expected return on plan assets	(212)		(33)		(191)		(32)		(1)		(1)
Amortization of net actuarial loss	—		—		—		2		—		—
Amortization of prior service cost	—		—		—		—		—		(26)

Settlements	—		—		1		—		—		—
Total non-service cost (benefit)	(148)		(16)		(137)		(16)		—		(26)
Net periodic benefit cost (benefit)	$	(148)	$	(13)	$	(137)	$	(13)	$	—	$	(25)

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended September 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	1		1		—		1
Total service cost	1		1		—		1
Non-service cost (benefit):
Losses and loss expenses	(5)		(5)		—		—
Administrative expenses	(50)		(45)		—		—
Total non-service cost (benefit)	(55)		(50)		—		—
Net periodic benefit cost (benefit)	$	(54)	$	(49)	$	—	$	1


	Pension Benefit Plans				Other Postretirement Benefit Plans
Nine Months Ended September 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	3		3		—		1
Total service cost	3		3		—		1
Non-service cost (benefit):
Losses and loss expenses	(15)		(14)		—		(3)
Administrative expenses	(149)		(139)		—		(23)
Total non-service cost (benefit)	(164)		(153)		—		(26)
Net periodic benefit cost (benefit)	$	(161)	$	(150)	$	—	$	(25)

Other Income and Expense

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

Other Income and Expense Disclosure

Other income and expense


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Equity in net income (loss) of partially-owned entities (1)	$	(98)	$	802	$	192	$	2,073
Gains (losses) from fair value changes in separate account assets (2)	(67)		(24)		(116)		(5)
Federal excise and capital taxes	(6)		(5)		(15)		(15)

Other	(17)		(10)		(40)		(23)
Total	$	(188)	$	763	$	21	$	2,030

(1) Equity in net income (loss) of partially-owned entities principally comprises mark-to-market gain (loss) on private equities where we own more than three percent of $(190) million and $(69) million for the three and nine months ended September 30, 2022, respectively, and $702 million and $1,776 million, respectively, for the prior year periods. This line item also includes net income of $28 million and $83 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and nine months ended September 30, 2022, respectively, compared to $40 million and $144 million, respectively, for the prior year periods.

(2) Related to gains (losses) from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP.

Other income and expense includes equity in net income of partially-owned entities, which 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) and partially-owned insurance companies. 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 reporting under GAAP. The offsetting movement in the separate account liabilities is included in Policy benefits in the Consolidated statements of operations. 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

9 Months Ended

Sep. 30, 2022

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. Corporate results primarily include income and expenses not attributable to reportable segments and losses and loss expenses of asbestos and environmental (A&E) liabilities and certain other non-A&E run-off exposures. Segment results for the three and nine months ended September 30, 2022, include the results of Cigna's business in Asia from July 1, 2022. Results from Cigna's business in Asia are included in our Life Insurance segment and, to a lesser extent, Overseas General Insurance segment according to the nature of the business written.

Management uses underwriting income (loss) as the 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. Segment income (loss) includes underwriting income (loss), net investment income (loss), and other operating income and expense items such as each segment's share of the operating income (loss) related to partially-owned entities and miscellaneous income and expense items for which the segments are held accountable. Our main measure of segment performance is Segment income (loss), which also includes amortization of purchased intangibles acquired by the segment. 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), interest expense, Cigna integration expenses, and income tax are reported within Corporate. Cigna integration expenses are one-time costs that are directly attributable to third-party consulting fees, employee-related retention costs, and other professional and legal fees related to the acquisition of Cigna's A&H and Life insurance companies in six Asian markets. 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 Chief Executive Officer does not manage segment results or allocate resources to segments when considering these costs, and therefore 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. These items are reconciled to the consolidated presentation in the Segment measure reclass column below and include:

•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 GAAP. These gains and losses have been reclassified from Other (income) expense. We view gains and losses from fair value changes in both separate account assets and liabilities as part of the results of our underwriting operations, and therefore these gains and losses are reclassified to policy benefits.

•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 September 30, 2022 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,722	$	1,392	$	1,723	$	2,645	$	265	$	1,273	$	—	$	—	$	12,020
Net premiums earned	4,283		1,334		1,673		2,741		255		1,249		—		—		11,535
Losses and loss expenses	3,036		857		1,444		1,441		311		135		74		(19)		7,279
Policy benefits	—		—		—		—		—		553		—		(67)		486
Policy acquisition costs	583		274		68		720		59		271		—		—		1,975
Administrative expenses	272		71		3		264		8		174		91		—		883
Underwriting income (loss)	392		132		158		316		(123)		116		(165)		86		912
Net investment income	589		76		9		151		71		147		5		(69)		979
Other (income) expense	6		1		1		(2)		—		(10)		194		(2)		188
Amortization expense of purchased intangibles	—		2		7		12		—		2		46		—		69
Segment income (loss)	$	975	$	205	$	159	$	457	$	(52)	$	271	$	(400)	$	19	$	1,634
Net realized gains (losses)													(365)		(19)		(384)
Interest expense													150		—		150
Cigna integration expenses													23		—		23
Income tax expense													265		—		265
Net income (loss)													$	(1,203)	$	—	$	812


For the Three Months Ended September 30, 2021 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,369	$	1,300	$	1,415	$	2,596	$	221	$	609	$	—	$	—	$	10,510
Net premiums earned	3,954		1,244		1,338		2,664		211		589		—		—		10,000
Losses and loss expenses	2,754		846		1,138		1,487		192		179		43		(10)		6,629
Policy benefits	—		—		—		—		—		175		—		(24)		151
Policy acquisition costs	537		254		61		703		55		168		—		—		1,778
Administrative expenses	273		73		4		266		9		82		99		—		806
Underwriting income (loss)	390		71		135		208		(45)		(15)		(142)		34		636
Net investment income (loss)	507		60		6		157		99		102		(10)		(55)		866
Other (income) expense	8		1		—		—		—		(19)		(722)		(31)		(763)
Amortization expense of purchased intangibles	—		2		7		11		—		2		49		—		71
Segment income	$	889	$	128	$	134	$	354	$	54	$	104	$	521	$	10	$	2,194
Net realized gains (losses)													(11)		(10)		(21)
Interest expense													122		—		122
Income tax expense													218		—		218
Net income													$	170	$	—	$	1,833


For the Nine Months Ended September 30, 2022 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	13,426	$	3,998	$	2,523	$	8,364	$	780	$	2,430	$	—	$	—	$	31,521
Net premiums earned	12,645		3,852		2,217		8,065		712		2,347		—		—		29,838
Losses and loss expenses	7,979		2,343		1,830		4,054		565		437		275		(9)		17,474
Policy benefits	—		—		—		—		—		906		—		(116)		790
Policy acquisition costs	1,701		792		111		2,096		178		573		—		—		5,451
Administrative expenses	814		213		4		811		27		346		264		—		2,479
Underwriting income (loss)	2,151		504		272		1,104		(58)		85		(539)		125		3,644
Net investment income (loss)	1,600		199		23		460		232		359		(4)		(180)		2,689
Other (income) expense	12		3		1		3		1		(50)		73		(64)		(21)
Amortization expense of purchased intangibles	—		7		20		40		—		7		137		—		211
Segment income (loss)	$	3,739	$	693	$	274	$	1,521	$	173	$	487	$	(753)	$	9	$	6,143
Net realized gains (losses)													(778)		(9)		(787)
Interest expense													416		—		416
Cigna integration expenses													26		—		26
Income tax expense													913		—		913
Net income (loss)													$	(2,886)	$	—	$	4,001


For the Nine Months Ended September 30, 2021 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	12,318	$	3,761	$	2,110	$	7,983	$	702	$	1,844	$	—	$	—	$	28,718
Net premiums earned	11,431		3,652		1,858		7,721		583		1,789		—		—		27,034
Losses and loss expenses	7,740		2,341		1,554		3,936		422		562		141		(8)		16,688
Policy benefits	—		—		—		—		—		508		—		(5)		503
Policy acquisition costs	1,540		746		100		2,070		147		538		—		—		5,141
Administrative expenses	772		200		10		811		27		247		258		—		2,325
Underwriting income (loss)	1,379		365		194		904		(13)		(66)		(399)		13		2,377
Net investment income (loss)	1,582		189		21		447		250		301		(42)		(135)		2,613
Other (income) expense	24		(3)		—		3		—		(79)		(1,845)		(130)		(2,030)
Amortization expense of purchased intangibles	—		8		20		36		—		4		148		—		216
Segment income	$	2,937	$	549	$	195	$	1,312	$	237	$	310	$	1,256	$	8	$	6,804
Net realized gains (losses)													841		(8)		833
Interest expense													366		—		366
Income tax expense													873		—		873
Net income													$	858	$	—	$	6,398

Underwriting assets are reviewed in total by management for purposes of decision-making. Other than Unpaid losses and loss expenses, Future policy benefits, Reinsurance recoverables, 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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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Earnings per share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings per share


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share and per share data)	2022		2021		2022		2021
Numerator:
Net income	$	812	$	1,833	$	4,001	$	6,398
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	416,542,101		435,318,088		421,290,032		443,595,026
Denominator for diluted earnings per share:
Share-based compensation plans	3,076,855		3,123,550		3,733,449		3,032,989
Weighted-average shares outstanding and assumed conversions	419,618,956		438,441,638		425,023,481		446,628,015
Basic earnings per share	$	1.95	$	4.21	$	9.50	$	14.42
Diluted earnings per share	$	1.94	$	4.18	$	9.41	$	14.33
Potential anti-dilutive share conversions	1,693,502		1,758,853		1,377,784		1,439,882

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 12 to the Consolidated Financial Statements of our 2021 Form 10-K for additional information on stock options.

General (Policies)

9 Months Ended

Sep. 30, 2022

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 13 for additional information.

The interim unaudited consolidated financial statements, which include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, including internal reinsurance transactions, have been eliminated.

The 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 2021 Form 10-K.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

Restricted cash

Restricted cash in the Consolidated balance sheets represents amounts held for the benefit of third parties and is legally or contractually restricted as to withdrawal or usage. Amounts include deposits with U.S. and non-U.S. regulatory authorities, trust funds set up for the benefit of ceding companies, and amounts pledged as collateral to meet financing arrangements.

The following table provides a reconciliation of cash and restricted cash reported within the Consolidated balance sheets that total to the amounts shown in the Consolidated statements of cash flows:


	September 30		December 31
(in millions of U.S. dollars)	2022		2021
Cash	$	2,128	$	1,659
Restricted cash	136		152
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,264	$	1,811

Accounting guidance not yet adopted

Targeted Improvements to the Accounting for Long-Duration Contracts

In August 2018, the FASB issued guidance to improve the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The amendments in this update require more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures. This standard will be effective in the first quarter of 2023 with early adoption permitted. We are currently assessing the effect of adopting this guidance on our financial condition and results of operations. We will be better able to quantify the effect of adopting this standard as we progress in our implementation process and draw nearer to the date of adoption.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair value measurements (Fair Value Measurement Policy) (Policies)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement, Policy [Policy Text Block]	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.

General (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Cash and Cash Equivalents [Table Text Block]

The following table provides a reconciliation of cash and restricted cash reported within the Consolidated balance sheets that total to the amounts shown in the Consolidated statements of cash flows:


	September 30		December 31
(in millions of U.S. dollars)	2022		2021
Cash	$	2,128	$	1,659
Restricted cash	136		152
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,264	$	1,811

Acquisitions (Tables)

3 Months Ended

Sep. 30, 2022

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the results of operations of the acquired Cigna business in Asia since the acquisition date that have been included within our Consolidated statements of operations for both the three and nine months ended September 30, 2022.


(in millions of U.S. dollars)
Total revenues	$	681
Net income	$	21

Business Acquisition, Pro Forma Information

The following table presents supplemental unaudited pro forma consolidated information for the periods indicated as though the acquisition of Cigna's business in Asia that occurred on July 1, 2022, had instead occurred on January 1, 2021. The unaudited pro forma consolidated financial information is presented for informational purposes only and is not necessarily indicative of the operating results that would have occurred had the acquisition been consummated on January 1, 2021, nor is it necessarily indicative of future operating results. Significant assumptions used to determine pro forma operating results include amortization of VOBA and other intangible assets and recognition of interest expense associated with the repurchase agreement transactions used to effect the acquisition.


	Three Months Ended				Nine Months Ended
Pro forma:	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Net premiums earned	$	11,535	$	10,788	$	31,362	$	29,406
Total revenues	$	12,132	$	11,632	$	33,253	$	32,879
Net income	$	825	$	1,894	$	4,203	$	6,649

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The preliminary purchase price allocation to intangible assets recorded in connection with the Cigna acquisition and their related useful lives at July 1, 2022, are as follows:



(in millions of U.S. dollars)	Amount		Weighted-average useful life
Definite life
Agency distribution relationships and renewal rights	$	190	20 years
Unearned premium reserves (UPR) intangible asset	9		1 year

Indefinite life
Trademarks	70		Indefinite

Total identified intangible assets	$	269

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes Chubb's best estimate of fair value of the assets acquired and liabilities assumed at July 1, 2022. The fair value of assets and liabilities, including intangible assets and tax-related items (classified below in Other assets and Other liabilities), are preliminary and may change with offsetting adjustments to goodwill. Chubb may make further adjustments to its purchase price allocation through the end of the permissible one-year measurement period. Chubb does not expect changes, if any, to materially affect its financial position, results of operations, or cash flows.


Preliminary estimate of assets acquired and liabilities assumed from Cigna's business in Asia	July 1
(in millions of U.S. dollars)	2022
Assets
Investments and Cash	$	5,311
Accrued investment income	33
Insurance and reinsurance balances receivable	52
Reinsurance recoverable on losses and loss expenses	3
Reinsurance recoverable on future policy benefits	82
Value of business acquired	3,379
Goodwill and other intangible assets	1,609
Other assets	655
Total assets	$	11,124
Liabilities
Unpaid losses and loss expenses	$	10
Unearned premiums	60
Future policy benefits	3,844
Insurance and reinsurance balances payable	115
Accounts payable, accrued expenses, and other liabilities	925
Deferred tax liabilities	839
Total liabilities	$	5,793

Net acquired assets, including goodwill	5,331
Total	$	11,124

Investments (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

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


September 30, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,725	$	—	$	5	$	(174)	$	2,556
Non-U.S.	26,766		(61)		77		(2,599)		24,183
Corporate and asset-backed securities	40,776		(85)		30		(4,341)		36,380
Mortgage-backed securities	18,425		(1)		1		(2,190)		16,235
Municipal	4,624		—		6		(243)		4,387
	$	93,316	$	(147)	$	119	$	(9,547)	$	83,741
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,281	$	—	$	1,281	$	—	$	(52)	$	1,229
Non-U.S.	1,046		(4)		1,042		—		(86)		956
Corporate and asset-backed securities	1,769		(27)		1,742		—		(157)		1,585
Mortgage-backed securities	1,549		(1)		1,548		—		(110)		1,438
Municipal	3,364		(1)		3,363		1		(81)		3,283
	$	9,009	$	(33)	$	8,976	$	1	$	(486)	$	8,491


December 31, 2021	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,111	$	—	$	109	$	(6)	$	2,214
Non-U.S.	25,156		(8)		953		(272)		25,829
Corporate and asset-backed securities	37,844		(6)		1,410		(185)		39,063
Mortgage-backed securities	20,080		—		532		(123)		20,489
Municipal	5,302		—		216		(5)		5,513
	$	90,493	$	(14)	$	3,220	$	(591)	$	93,108
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,213	$	—	$	1,213	$	34	$	(3)	$	1,244
Non-U.S.	1,201		(5)		1,196		66		—		1,262
Corporate and asset-backed securities	2,032		(28)		2,004		197		—		2,201
Mortgage-backed securities	1,731		(1)		1,730		74		(1)		1,803
Municipal	3,976		(1)		3,975		162		—		4,137
	$	10,153	$	(35)	$	10,118	$	533	$	(4)	$	10,647

Schedule Of Amortized Cost And Fair Value Of HTM Fixed Maturities


September 30, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,725	$	—	$	5	$	(174)	$	2,556
Non-U.S.	26,766		(61)		77		(2,599)		24,183
Corporate and asset-backed securities	40,776		(85)		30		(4,341)		36,380
Mortgage-backed securities	18,425		(1)		1		(2,190)		16,235
Municipal	4,624		—		6		(243)		4,387
	$	93,316	$	(147)	$	119	$	(9,547)	$	83,741
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,281	$	—	$	1,281	$	—	$	(52)	$	1,229
Non-U.S.	1,046		(4)		1,042		—		(86)		956
Corporate and asset-backed securities	1,769		(27)		1,742		—		(157)		1,585
Mortgage-backed securities	1,549		(1)		1,548		—		(110)		1,438
Municipal	3,364		(1)		3,363		1		(81)		3,283
	$	9,009	$	(33)	$	8,976	$	1	$	(486)	$	8,491


December 31, 2021	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,111	$	—	$	109	$	(6)	$	2,214
Non-U.S.	25,156		(8)		953		(272)		25,829
Corporate and asset-backed securities	37,844		(6)		1,410		(185)		39,063
Mortgage-backed securities	20,080		—		532		(123)		20,489
Municipal	5,302		—		216		(5)		5,513
	$	90,493	$	(14)	$	3,220	$	(591)	$	93,108
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,213	$	—	$	1,213	$	34	$	(3)	$	1,244
Non-U.S.	1,201		(5)		1,196		66		—		1,262
Corporate and asset-backed securities	2,032		(28)		2,004		197		—		2,201
Mortgage-backed securities	1,731		(1)		1,730		74		(1)		1,803
Municipal	3,976		(1)		3,975		162		—		4,137
	$	10,153	$	(35)	$	10,118	$	533	$	(4)	$	10,647

Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block]

The following table presents the amortized cost of our held to maturity securities according to S&P rating:


	September 30, 2022				December 31, 2021
(in millions of U.S. dollars, except for percentages)	Amortized cost		% of Total		Amortized cost		% of Total
AAA	$	1,710	19	%	$	2,089	21	%
AA	4,975		55	%	5,303		52	%
A	1,679		19	%	1,964		19	%
BBB	622		7	%	773		8	%
BB	23		—	%	23		—	%
Other	—		—	%	1		—	%
Total	$	9,009	100	%	$	10,153	100	%

Schedule Of Fixed Maturities By Contractual Maturity

The following table presents fixed maturities by contractual maturity:


	September 30, 2022				December 31, 2021
(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	$	3,173	$	3,173	$	4,498	$	4,498
Due after 1 year through 5 years	23,685		23,685		25,542		25,542
Due after 5 years through 10 years	26,350		26,350		28,207		28,207
Due after 10 years	14,298		14,298		14,372		14,372
	67,506		67,506		72,619		72,619
Mortgage-backed securities	16,235		16,235		20,489		20,489
	$	83,741	$	83,741	$	93,108	$	93,108
Held to maturity
Due in 1 year or less	$	1,003	$	990	$	888	$	894
Due after 1 year through 5 years	3,373		3,233		3,744		3,846
Due after 5 years through 10 years	1,743		1,677		2,242		2,349
Due after 10 years	1,309		1,153		1,514		1,755
	7,428		7,053		8,388		8,844
Mortgage-backed securities	1,548		1,438		1,730		1,803
	$	8,976	$	8,491	$	10,118	$	10,647

Schedule Of Aggregate Fair Value And Gross Unrealized Loss By Length Of Time The Security Has Continuously Been In An Unrealized Loss Position

The following tables present, for 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 been in an unrealized loss position:


	0 – 12 Months				Over 12 Months				Total
September 30, 2022	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency	$	1,873	$	(145)	$	227	$	(29)	$	2,100	$	(174)
Non-U.S.	16,585		(1,480)		3,907		(588)		20,492		(2,068)
Corporate and asset-backed securities	28,533		(2,832)		2,621		(456)		31,154		(3,288)
Mortgage-backed securities	12,776		(1,459)		3,324		(728)		16,100		(2,187)
Municipal	3,905		(216)		70		(18)		3,975		(234)
Total AFS fixed maturities	$	63,672	$	(6,132)	$	10,149	$	(1,819)	$	73,821	$	(7,951)


	0 – 12 Months				Over 12 Months				Total
December 31, 2021	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. Treasury / Agency	$	363	$	(3)	$	70	$	(3)	$	433	$	(6)
Non-U.S.	6,917		(196)		1,093		(62)		8,010		(258)
Corporate and asset-backed securities	9,449		(145)		806		(32)		10,255		(177)
Mortgage-backed securities	8,086		(116)		190		(7)		8,276		(123)
Municipal	226		(5)		—		—		226		(5)
Total AFS fixed maturities	$	25,041	$	(465)	$	2,159	$	(104)	$	27,200	$	(569)

Debt Securities, Available-for-sale, Allowance for Credit Loss [Table Text Block]

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	78	$	11	$	14	$	20

Provision for expected credit loss	91		3		169		8


Foreign currency revaluation	(2)		—		(2)		—
Recovery of expected credit loss	(20)		(2)		(34)		(16)
Valuation allowance for expected credit losses - end of period	$	147	$	12	$	147	$	12
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	37	$	35	$	44

Provision for expected credit loss	—		—		1		—


Recovery of expected credit loss	(1)		(2)		(3)		(9)
Valuation allowance for expected credit losses - end of period	$	33	$	35	$	33	$	35

Schedule of Realized Gain (Loss)

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Fixed maturities:



Gross realized gains	$	144	$	27	$	545	$	120
Gross realized losses	(331)		(27)		(1,158)		(99)
Net (provision for) recovery of expected credit losses	(70)		1		(133)		17
Impairment (1)	(22)		(11)		(111)		(12)
Total fixed maturities	(279)		(10)		(857)		26
Equity securities	(80)		(42)		(287)		475

Other investments	(42)		11		17		111
Foreign exchange	198		106		541		85
Investment and embedded derivative instruments	(198)		(9)		(232)		9
Fair value adjustments on insurance derivative	22		(59)		(86)		252
S&P futures	54		(4)		240		(112)
Other derivative instruments	(19)		(10)		(9)		(8)
Other (2)	(40)		(4)		(114)		(5)
Net realized gains (losses) (pre-tax)	$	(384)	$	(21)	$	(787)	$	833

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

(2)Other realized losses includes $36 million related to impairment of fixed assets. The nine months ended September 30, 2022 also includes impairment of assets related to Chubb’s Russian entities.

Gain (Loss) on Securities [Table Text Block]

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


							Three Months Ended
							September 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(80)	$	(42)	$	(122)	$	(42)	$	11	$	(31)
Less: Net gains (losses) recognized from sales of securities	(12)		—		(12)		19		—		19
Unrealized gains (losses) recognized for securities still held at reporting date	$	(68)	$	(42)	$	(110)	$	(61)	$	11	$	(50)


							Nine Months Ended
							September 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(287)	$	17	$	(270)	$	475	$	111	$	586
Less: Net gains recognized from sales of securities	406		—		406		109		—		109
Unrealized gains (losses) recognized for securities still held at reporting date	$	(693)	$	17	$	(676)	$	366	$	111	$	477

Debt Securities, Held-to-maturity, Allowance for Credit Loss [Table Text Block]

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	78	$	11	$	14	$	20

Provision for expected credit loss	91		3		169		8


Foreign currency revaluation	(2)		—		(2)		—
Recovery of expected credit loss	(20)		(2)		(34)		(16)
Valuation allowance for expected credit losses - end of period	$	147	$	12	$	147	$	12
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	37	$	35	$	44

Provision for expected credit loss	—		—		1		—


Recovery of expected credit loss	(1)		(2)		(3)		(9)
Valuation allowance for expected credit losses - end of period	$	33	$	35	$	33	$	35

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]


	Expected Liquidation Period of Underlying Assets	September 30, 2022				December 31, 2021
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,085	$	528	$	1,096	$	267
Real assets	2 to 13 Years	2,045		807		1,193		766
Distressed	2 to 8 Years	1,055		746		753		641
Private credit	3 to 8 Years	194		450		84		279
Traditional	2 to 14 Years	7,548		5,091		6,647		5,200
Vintage	1 to 2 Years	51		—		68		—
Investment funds	Not Applicable	414		—		267		—
		$	12,392	$	7,622	$	10,108	$	7,153

Schedule Of Components Of Restricted Assets

The following table presents the components of restricted assets:


	September 30		December 31
(in millions of U.S. dollars)	2022		2021
Trust funds	$	7,992	$	9,915
Deposits with U.S. regulatory authorities	2,318		2,402
Deposits with non-U.S. regulatory authorities	2,825		2,873
Assets pledged under repurchase agreements	2,529		1,420
Other pledged assets	674		634
Total	$	16,338	$	17,244

Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2022

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


September 30, 2022	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	2,032	$	524	$	—	$	2,556
Non-U.S.	—		23,677		506		24,183
Corporate and asset-backed securities	—		34,084		2,296		36,380
Mortgage-backed securities	—		16,216		19		16,235
Municipal	—		4,387		—		4,387
	2,032		78,888		2,821		83,741
Equity securities	761		—		83		844
Short-term investments	2,782		1,749		3		4,534
Other investments (1)	506		381		—		887
Securities lending collateral	—		1,626		—		1,626
Investment derivatives not designated as hedging instruments	129		—		—		129
Other derivative instruments	109		—		—		109
Derivatives designated as hedging instruments	—		71		—		71
Separate account assets	4,810		81		—		4,891
Total assets measured at fair value (1)	$	11,129	$	82,796	$	2,907	$	96,832
Liabilities:
Investment derivatives not designated as hedging instruments	$	306	$	—	$	—	$	306

Derivatives designated as hedging instruments	—		101		—		101
GLB (2)	—		—		784		784
Total liabilities measured at fair value	$	306	$	101	$	784	$	1,191

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,392 million, policy loans of $316 million, and other investments of $50 million at September 30, 2022 measured using NAV as a practical expedient.

(2)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


December 31, 2021	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	1,680	$	534	$	—	$	2,214
Non-U.S.	—		25,196		633		25,829
Corporate and asset-backed securities	—		37,014		2,049		39,063
Mortgage-backed securities	—		20,463		26		20,489
Municipal	—		5,513		—		5,513
	1,680		88,720		2,708		93,108
Equity securities	4,705		—		77		4,782
Short-term investments	1,744		1,395		7		3,146
Other investments (1)	286		481		—		767
Securities lending collateral	—		1,831		—		1,831
Investment derivative instruments	58		—		—		58
Separate account assets	5,461		99		—		5,560
Total assets measured at fair value (1)	$	13,934	$	92,526	$	2,792	$	109,252
Liabilities:
Investment derivative instruments	$	166	$	—	$	—	$	166
Other derivative instruments	16		—		—		16
GLB (2)	—		—		745		745
Total liabilities measured at fair value	$	182	$	—	$	745	$	927

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $10,108 million, policy loans of $243 million and other investments of $51 million at December 31, 2021, measured using NAV as a practical expedient.

(2)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations

The following table presents the significant unobservable inputs used in the Level 3 liability valuations. Excluded from the table below are inputs used to determine the fair value of Level 3 assets which are based on single broker quotes and contain no quantitative unobservable inputs developed by management. The majority of our fixed maturities classified as Level 3 used external pricing when markets are less liquid due to the lack of market inputs (i.e., stale pricing, broker quotes).

(in millions of U.S. dollars, except for percentages)

Fair Value

Valuation
Technique

Significant
Unobservable Inputs

Ranges

Weighted Average (1)

September 30, 2022

December 31, 2021

GLB (1)

$

784

$

745

Actuarial model

Lapse rate

3% – 30%

3.5

%

Annuitization rate

0% – 100%

4.6

%

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

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):


	Assets										Liabilities
Three Months Ended September 30, 2022 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities			Short-term investments			GLB (1)
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Transfers into Level 3	—		2		—			—			—			—
Transfers out of Level 3	—		(4)		—			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(34)		(16)		—			—			—			—
Net Realized Gains/Losses	(4)		(9)		—			3			(1)			(22)
Purchases	39		164		4			3			1			—
Sales	(19)		(8)		—			(4)			—			—
Settlements	(25)		(94)		(4)			—			(6)			—
Other	—		—		—			—			—			(26)
Balance, end of period	$	506	$	2,296	$	19		$	83		$	3		$	784
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(1)	$	(3)	$	—		$	3		$	(1)		$	(22)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(35)	$	(19)	$	—		$	—		$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


		Assets														Liabilities
Three Months Ended September 30, 2021 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments		Other investments			GLB (1)
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Transfers into Level 3		22			45			—		—		—		—			—
Transfers out of Level 3		—			—			—		—		—		(10)			—
Change in Net Unrealized Gains/Losses in OCI		(15)			2			—		—		—		—			—

Net Realized Gains/Losses		(3)			—			—		1		—		—			59

Purchases		60			272			17		4		7		—			—
Sales		(19)			(13)			—		(4)		—		—			—
Settlements		(27)			(135)			(11)		—		—		—			—
Other		—			—			—		—		—		—			(1)
Balance, end of period		$	660		$	1,859		$	53	$	79	$	10	$	—		$	818
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	—		$	—	$	(1)	$	—	$	—		$	59
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(15)		$	—		$	—	$	—	$	—	$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


	Assets										Liabilities
Nine Months Ended September 30, 2022 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities			Short-term investments			GLB (1)
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	633	$	2,049	$	26		$	77		$	7		$	745
Transfers into Level 3	23		41		—			1			—			—
Transfers out of Level 3	(23)		(97)		(5)			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(88)		(68)		—			—			—			—
Net Realized Gains/Losses	(6)		(9)		—			7			(1)			86
Purchases	108		658		4			6			8			—
Sales	(44)		(59)		—			(8)			—			—
Settlements	(97)		(219)		(6)			—			(11)			—
Other	—		—		—			—			—			(47)
Balance, end of period	$	506	$	2,296	$	19		$	83		$	3		$	784
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(3)	$	(4)	$	—		$	6		$	(1)		$	86
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(89)	$	(71)	$	—		$	—		$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


		Assets														Liabilities
Nine Months Ended September 30, 2021 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments		Other investments			GLB (1)
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	546		$	1,573		$	60	$	73	$	5	$	10		$	1,089
Transfers into Level 3		22			91			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		(10)			—
Change in Net Unrealized Gains/Losses in OCI		(2)			14			—		—		—		—			—

Net Realized Gains/Losses		—			3			—		8		—		—			(252)

Purchases		235			681			18		11		10		—			—
Sales		(35)			(88)			(1)		(13)		—		—			—
Settlements		(96)			(412)			(24)		—		(5)		—			—
Other		—			—			—		—		—		—			(19)
Balance, end of period		$	660		$	1,859		$	53	$	79	$	10	$	—		$	818
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	3		$	—	$	5	$	—	$	—		$	(252)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	2		$	17		$	—	$	—	$	—	$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

^[1]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

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):


	Assets										Liabilities
Three Months Ended September 30, 2022 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities			Short-term investments			GLB (1)
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Transfers into Level 3	—		2		—			—			—			—
Transfers out of Level 3	—		(4)		—			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(34)		(16)		—			—			—			—
Net Realized Gains/Losses	(4)		(9)		—			3			(1)			(22)
Purchases	39		164		4			3			1			—
Sales	(19)		(8)		—			(4)			—			—
Settlements	(25)		(94)		(4)			—			(6)			—
Other	—		—		—			—			—			(26)
Balance, end of period	$	506	$	2,296	$	19		$	83		$	3		$	784
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(1)	$	(3)	$	—		$	3		$	(1)		$	(22)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(35)	$	(19)	$	—		$	—		$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


		Assets														Liabilities
Three Months Ended September 30, 2021 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments		Other investments			GLB (1)
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Transfers into Level 3		22			45			—		—		—		—			—
Transfers out of Level 3		—			—			—		—		—		(10)			—
Change in Net Unrealized Gains/Losses in OCI		(15)			2			—		—		—		—			—

Net Realized Gains/Losses		(3)			—			—		1		—		—			59

Purchases		60			272			17		4		7		—			—
Sales		(19)			(13)			—		(4)		—		—			—
Settlements		(27)			(135)			(11)		—		—		—			—
Other		—			—			—		—		—		—			(1)
Balance, end of period		$	660		$	1,859		$	53	$	79	$	10	$	—		$	818
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	—		$	—	$	(1)	$	—	$	—		$	59
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(15)		$	—		$	—	$	—	$	—	$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


	Assets										Liabilities
Nine Months Ended September 30, 2022 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities			Short-term investments			GLB (1)
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	633	$	2,049	$	26		$	77		$	7		$	745
Transfers into Level 3	23		41		—			1			—			—
Transfers out of Level 3	(23)		(97)		(5)			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(88)		(68)		—			—			—			—
Net Realized Gains/Losses	(6)		(9)		—			7			(1)			86
Purchases	108		658		4			6			8			—
Sales	(44)		(59)		—			(8)			—			—
Settlements	(97)		(219)		(6)			—			(11)			—
Other	—		—		—			—			—			(47)
Balance, end of period	$	506	$	2,296	$	19		$	83		$	3		$	784
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(3)	$	(4)	$	—		$	6		$	(1)		$	86
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(89)	$	(71)	$	—		$	—		$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.


		Assets														Liabilities
Nine Months Ended September 30, 2021 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments		Other investments			GLB (1)
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	546		$	1,573		$	60	$	73	$	5	$	10		$	1,089
Transfers into Level 3		22			91			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		(10)			—
Change in Net Unrealized Gains/Losses in OCI		(2)			14			—		—		—		—			—

Net Realized Gains/Losses		—			3			—		8		—		—			(252)

Purchases		235			681			18		11		10		—			—
Sales		(35)			(88)			(1)		(13)		—		—			—
Settlements		(96)			(412)			(24)		—		(5)		—			—
Other		—			—			—		—		—		—			(19)
Balance, end of period		$	660		$	1,859		$	53	$	79	$	10	$	—		$	818
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	3		$	—	$	5	$	—	$	—		$	(252)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	2		$	17		$	—	$	—	$	—	$	—		$	—

(1)Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

^[1]

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:


September 30, 2022	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,157	$	72	$	—	$	1,229	$	1,281
Non-U.S.	—		956		—		956		1,042
Corporate and asset-backed securities	—		1,585		—		1,585		1,742
Mortgage-backed securities	—		1,438		—		1,438		1,548
Municipal	—		3,283		—		3,283		3,363
Total assets	$	1,157	$	7,334	$	—	$	8,491	$	8,976
Liabilities:
Repurchase agreements	$	—	$	2,417	$	—	$	2,417	$	2,417
Short-term debt	—		1,469		—		1,469		1,475
Long-term debt	—		12,067		—		12,067		14,044
Trust preferred securities	—		387		—		387		308
Total liabilities	$	—	$	16,340	$	—	$	16,340	$	18,244


December 31, 2021	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,192	$	52	$	—	$	1,244	$	1,213
Non-U.S.	—		1,262		—		1,262		1,196
Corporate and asset-backed securities	—		2,201		—		2,201		2,004
Mortgage-backed securities	—		1,803		—		1,803		1,730
Municipal	—		4,137		—		4,137		3,975
Total assets	$	1,192	$	9,455	$	—	$	10,647	$	10,118
Liabilities:
Repurchase agreements	$	—	$	1,406	$	—	$	1,406	$	1,406
Short-term debt	—		1,019		—		1,019		999
Long-term debt	—		16,848		—		16,848		15,169
Trust preferred securities	—		460		—		460		308
Total liabilities	$	—	$	19,733	$	—	$	19,733	$	17,882

[1]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

Reinsurance (Tables)

9 Months Ended

Sep. 30, 2022

Reinsurance Disclosures [Abstract]

schedule of reinsurance recoverable on ceded insurance


	September 30, 2022				December 31, 2021
(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	$	17,380	$	297	$	16,184	$	271
Reinsurance recoverable on paid losses and loss expenses	1,374		55		1,182		58
Reinsurance recoverable on losses and loss expenses	$	18,754	$	352	$	17,366	$	329
Reinsurance recoverable on policy benefits	$	297	$	4	$	213	$	4

(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 loss and loss expenses:


	Nine Months Ended
	September 30
(in millions of U.S. dollars)	2022		2021
Valuation allowance for uncollectible reinsurance - beginning of period	$	329	$	314
Provision for uncollectible reinsurance	30		16
Write-offs charged against the valuation allowance	(4)		(4)
Foreign exchange revaluation	(3)		(1)

Valuation allowance for uncollectible reinsurance - end of period	$	352	$	325

Unpaid losses and loss expenses Unpaid losses and loss expenses (Tables)

9 Months Ended

Sep. 30, 2022

Liability for Claims and Claims Adjustment Expense [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

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


	Nine Months Ended
	September 30
(in millions of U.S. dollars)	2022		2021
Gross unpaid losses and loss expenses – beginning of period	$	72,943	$	67,811
Reinsurance recoverable on unpaid losses – beginning of period (1)	(16,184)		(14,647)
Net unpaid losses and loss expenses – beginning of period	56,759		53,164


Net losses and loss expenses incurred in respect of losses occurring in:
Current year	18,426		17,556
Prior years (2)	(952)		(868)
Total	17,474		16,688
Net losses and loss expenses paid in respect of losses occurring in:
Current year	5,104		4,771
Prior years	9,217		7,922
Total	14,321		12,693
Foreign currency revaluation and other	(1,300)		(78)
Net unpaid losses and loss expenses – end of period	58,612		57,081
Reinsurance recoverable on unpaid losses (1)	17,380		15,550
Gross unpaid losses and loss expenses – end of period	$	75,992	$	72,631

(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, and earned premiums totaling $243 million and $87 million for the nine months ended September 30, 2022 and 2021, respectively.

Prior Period Development, by Segment [Table Text Block]

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


	Three Months Ended September 30						Nine Months Ended September 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
2022
North America Commercial P&C Insurance	$	(29)	$	(137)	$	(166)	$	(315)	$	(246)	$	(561)
North America Personal P&C Insurance	—		(133)		(133)		—		(187)		(187)
North America Agricultural Insurance	—		9		9		—		(17)		(17)
Overseas General Insurance	(5)		—		(5)		(5)		(233)		(238)
Global Reinsurance	—		—		—		(7)		29		22
Corporate	73		—		73		272		—		272
Total	$	39	$	(261)	$	(222)	$	(55)	$	(654)	$	(709)
2021
North America Commercial P&C Insurance	$	(101)	$	(56)	$	(157)	$	(243)	$	(197)	$	(440)
North America Personal P&C Insurance	—		(182)		(182)		—		(266)		(266)
North America Agricultural Insurance	—		7		7		—		5		5
Overseas General Insurance	(13)		(15)		(28)		(8)		(201)		(209)
Global Reinsurance	(4)		—		(4)		(26)		15		(11)
Corporate	43		—		43		140		—		140
Total	$	(75)	$	(246)	$	(321)	$	(137)	$	(644)	$	(781)

Value of Business Acquired, Goodwill, and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in VOBA

The following table presents a roll-forward of VOBA:


	Nine months ended
	September 30
(in millions of U.S. dollars)	2022
Balance, beginning of period	$	236
Acquisition of Cigna's business in Asia	3,379
Amortization of VOBA (1)	(107)
Foreign exchange revaluation and other	(184)
Balance, end of period	$	3,324

(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.

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, 2021	$	6,972	$	2,240	$	134	$	4,653	$	371	$	843	$	15,213
Acquisition of Cigna's business in Asia	—		—		—		103		—		1,237		1,340
Foreign exchange revaluation and other	(11)		(4)		—		(431)		—		—		(446)
Balance at September 30, 2022	$	6,961	$	2,236	$	134	$	4,325	$	371	$	2,080	$	16,107

Schedule of Intangible Assets and Goodwill

Other intangible assets that are subject to amortization principally relate to agency distribution relationships, renewal rights, and patents, and other intangible assets that are not subject to amortization principally relate to trademarks.


(in millions of U.S. dollars)	September 30 2022		December 31 2021
Subject to amortization	$	2,417	$	2,508
Not subject to amortization	2,966		2,947
Total	$	5,383	$	5,455

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents, as of September 30, 2022, the expected pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the fourth quarter of 2022 and for the next five years:



For the Years Ending December 31 (in millions of U.S. dollars)	Associated with the Cigna acquisition in Asia (1)		Associated with the Chubb acquisition (2)		Other intangible assets (3)		Total amortization of purchased intangibles
Fourth quarter of 2022	$	1	$	45	$	25	$	71
2023	2		170		96		268
2024	4		153		89		246
2025	5		137		87		229
2026	6		123		84		213
2027	9		108		81		198
Total	$	27	$	736	$	462	$	1,225

(1)Recorded in Life Insurance segment.

(2)Recorded in Corporate.

(3)Recorded in applicable segment(s) that acquired the intangible assets.

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Commitments and Contingencies Disclosure [Abstract]

Commitments, contingencies, and guarantees (Tables)

9 Months Ended

Sep. 30, 2022

Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments

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


				September 30, 2022								December 31, 2021
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision			Fair Value					Notional Value/ 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)	$	72	$	(277)	$	5,211		$	25		$	(139)	$	6,182
Options/Futures contracts on notes, bonds, and equities	OA / (AP)	57		(29)		1,366			33			(27)		12,944
Convertible securities (1)	FM AFS / ES	32		—		41			11			—		12
		$	161	$	(306)	$	6,618		$	69		$	(166)	$	19,138
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	107	$	—	$	952		$	—		$	(16)	$	905
Other	OA / (AP)	2		—		301			—			—		3
		$	109	$	—	$	1,253		$	—		$	(16)	$	908
GLB (3)	(AP)	$	—	$	(784)	$	2,210		$	—		$	(745)	$	1,432
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	—	$	(94)	$	1,501		$	—		$	—	$	—
Cross-currency swaps - net investment hedges	OA / (AP)	71		(7)		1,501			—			—		—
		$	71	$	(101)	$	3,002		$	—		$	—	$	—

(1)Includes fair value of embedded derivatives.

(2)Related to GMDB and GLB book of business.

(3)Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.

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

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(247)	$	(15)	$	(515)	$	(37)

All other futures contracts, options, and equities	49		6		285		45
Convertible securities (1)	—		—		(2)		1

Total investment and embedded derivative instruments	$	(198)	$	(9)	$	(232)	$	9
GLB and other derivative instruments:
GLB	$	22	$	(59)	$	(86)	$	252
Futures contracts on equities (2)	54		(4)		240		(112)
Other	(19)		(10)		(9)		(8)
Total GLB and other derivative instruments	$	57	$	(73)	$	145	$	132
	$	(141)	$	(82)	$	(87)	$	141

(1)Includes embedded derivatives.

(2)Related to GMDB and GLB 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

	September 30, 2022		December 31, 2021
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	857	$	931
U.S. Treasury / Agency	93		128
Non-U.S.	641		752
Corporate and asset-backed securities	35		12
Mortgage-backed securities	—		1

Equity securities	—		7

	$	1,626	$	1,831
Gross amount of recognized liability for securities lending payable	$	1,626	$	1,831

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
	September 30, 2022								December 31, 2021
	Up to 30 Days		30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	66	$	10	$	—	$	76	$	—	$	29	$	29
U.S. Treasury / Agency	—		102		—		102		103		—		103


Mortgage-backed securities	350		1,530		471		2,351		—		1,288		1,288
	$	416	$	1,642	$	471	$	2,529	$	103	$	1,317	$	1,420
Gross amount of recognized liabilities for repurchase agreements							$	2,417					$	1,406
Difference (1)							$	112					$	14

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

Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Share Repurchase Program [Table Text Block]

The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share data)	2022		2021		2022		2021
Number of shares repurchased	3,676,528		8,412,000		14,022,728		22,877,400
Cost of shares repurchased	$	685	$	1,516	$	2,815	$	3,956
Repurchase authorization remaining at end of period	$	1,816	$	3,551	$	1,816	$	3,551

Dividends Declared

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


	Three Months Ended						Nine Months Ended
	September 30						September 30
	2022			2021			2022			2021
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.78	$	0.83	0.73	$	0.80	2.32	$	2.46	2.14	$	2.38

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(5,713)	$	3,342	$	2,256	$	4,673
Change in period, before reclassification from AOCI (before tax)	(3,324)		(564)		(12,898)		(2,151)
Amounts reclassified from AOCI (before tax)	279		10		857		(26)
Change in period, before tax	(3,045)		(554)		(12,041)		(2,177)
Income tax benefit	147		98		1,174		390
Balance – end of period, net of tax	(8,611)		2,886		(8,611)		2,886
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,821)		(1,323)		(2,146)		(1,637)


Change in period, before tax	(966)		(414)		(1,676)		(84)
Income tax benefit	6		23		41		7
Balance – end of period, net of tax	(3,781)		(1,714)		(3,781)		(1,714)
Fair value hedging instruments
Balance – beginning of period, net of tax	—		—		—		—
Change in period, before reclassification from AOCI (before tax)	(94)		—		(94)		—
Amounts reclassified from AOCI (before tax)	32		—		32		—
Change in period, before tax	(62)		—		(62)		—
Income tax benefit	13		—		13		—
Balance – end of period, net of tax	(49)		—		(49)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	259		(197)		240		(167)
Change in period, before tax	3		4		27		(33)
Income tax (expense) benefit	(1)		(1)		(6)		6
Balance – end of period, net of tax	261		(194)		261		(194)
Accumulated other comprehensive income (loss)	$	(12,180)	$	978	$	(12,180)	$	978

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				Nine Months Ended				Consolidated Statement of Operations Location
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Fixed maturities available for sale	$	(279)	$	(10)	$	(857)	$	26	Net realized gains (losses)
Income tax (expense) benefit	39		3		138		5		Income tax expense
	$	(240)	$	(7)	$	(719)	$	31	Net income




Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	(32)	$	—	$	(32)	$	—	Net realized gains (losses)

Income tax (expense) benefit	7		—		7		—		Income tax expense
	$	(25)	$	—	$	(25)	$	—	Net income
Total amounts reclassified from AOCI	$	(265)	$	(7)	$	(744)	$	31

Postretirement benefits (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

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
	2022				2021				2022		2021
Three Months Ended September 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	1	$	—	$	1	$	—	$	1
Non-service cost (benefit):
Interest cost	21		5		18		5		—		1
Expected return on plan assets	(70)		(11)		(64)		(10)		—		(1)
Amortization of net actuarial loss	—		—		—		—		—		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		1		—		—		—
Total non-service cost (benefit)	(49)		(6)		(45)		(5)		—		—
Net periodic benefit cost (benefit)	$	(49)	$	(5)	$	(45)	$	(4)	$	—	$	1


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2022				2021				2022		2021
Nine Months Ended September 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	3	$	—	$	3	$	—	$	1
Non-service cost (benefit):
Interest cost	64		17		53		14		1		1
Expected return on plan assets	(212)		(33)		(191)		(32)		(1)		(1)
Amortization of net actuarial loss	—		—		—		2		—		—
Amortization of prior service cost	—		—		—		—		—		(26)

Settlements	—		—		1		—		—		—
Total non-service cost (benefit)	(148)		(16)		(137)		(16)		—		(26)
Net periodic benefit cost (benefit)	$	(148)	$	(13)	$	(137)	$	(13)	$	—	$	(25)

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended September 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	1		1		—		1
Total service cost	1		1		—		1
Non-service cost (benefit):
Losses and loss expenses	(5)		(5)		—		—
Administrative expenses	(50)		(45)		—		—
Total non-service cost (benefit)	(55)		(50)		—		—
Net periodic benefit cost (benefit)	$	(54)	$	(49)	$	—	$	1


	Pension Benefit Plans				Other Postretirement Benefit Plans
Nine Months Ended September 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	3		3		—		1
Total service cost	3		3		—		1
Non-service cost (benefit):
Losses and loss expenses	(15)		(14)		—		(3)
Administrative expenses	(149)		(139)		—		(23)
Total non-service cost (benefit)	(164)		(153)		—		(26)
Net periodic benefit cost (benefit)	$	(161)	$	(150)	$	—	$	(25)

Other Income and Expense (Tables)

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Equity in net income (loss) of partially-owned entities (1)	$	(98)	$	802	$	192	$	2,073
Gains (losses) from fair value changes in separate account assets (2)	(67)		(24)		(116)		(5)
Federal excise and capital taxes	(6)		(5)		(15)		(15)

Other	(17)		(10)		(40)		(23)
Total	$	(188)	$	763	$	21	$	2,030

(1) Equity in net income (loss) of partially-owned entities principally comprises mark-to-market gain (loss) on private equities where we own more than three percent of $(190) million and $(69) million for the three and nine months ended September 30, 2022, respectively, and $702 million and $1,776 million, respectively, for the prior year periods. This line item also includes net income of $28 million and $83 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and nine months ended September 30, 2022, respectively, compared to $40 million and $144 million, respectively, for the prior year periods.

(2) Related to gains (losses) from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP.

Segment information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:


For the Three Months Ended September 30, 2022 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,722	$	1,392	$	1,723	$	2,645	$	265	$	1,273	$	—	$	—	$	12,020
Net premiums earned	4,283		1,334		1,673		2,741		255		1,249		—		—		11,535
Losses and loss expenses	3,036		857		1,444		1,441		311		135		74		(19)		7,279
Policy benefits	—		—		—		—		—		553		—		(67)		486
Policy acquisition costs	583		274		68		720		59		271		—		—		1,975
Administrative expenses	272		71		3		264		8		174		91		—		883
Underwriting income (loss)	392		132		158		316		(123)		116		(165)		86		912
Net investment income	589		76		9		151		71		147		5		(69)		979
Other (income) expense	6		1		1		(2)		—		(10)		194		(2)		188
Amortization expense of purchased intangibles	—		2		7		12		—		2		46		—		69
Segment income (loss)	$	975	$	205	$	159	$	457	$	(52)	$	271	$	(400)	$	19	$	1,634
Net realized gains (losses)													(365)		(19)		(384)
Interest expense													150		—		150
Cigna integration expenses													23		—		23
Income tax expense													265		—		265
Net income (loss)													$	(1,203)	$	—	$	812


For the Three Months Ended September 30, 2021 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,369	$	1,300	$	1,415	$	2,596	$	221	$	609	$	—	$	—	$	10,510
Net premiums earned	3,954		1,244		1,338		2,664		211		589		—		—		10,000
Losses and loss expenses	2,754		846		1,138		1,487		192		179		43		(10)		6,629
Policy benefits	—		—		—		—		—		175		—		(24)		151
Policy acquisition costs	537		254		61		703		55		168		—		—		1,778
Administrative expenses	273		73		4		266		9		82		99		—		806
Underwriting income (loss)	390		71		135		208		(45)		(15)		(142)		34		636
Net investment income (loss)	507		60		6		157		99		102		(10)		(55)		866
Other (income) expense	8		1		—		—		—		(19)		(722)		(31)		(763)
Amortization expense of purchased intangibles	—		2		7		11		—		2		49		—		71
Segment income	$	889	$	128	$	134	$	354	$	54	$	104	$	521	$	10	$	2,194
Net realized gains (losses)													(11)		(10)		(21)
Interest expense													122		—		122
Income tax expense													218		—		218
Net income													$	170	$	—	$	1,833


For the Nine Months Ended September 30, 2022 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	13,426	$	3,998	$	2,523	$	8,364	$	780	$	2,430	$	—	$	—	$	31,521
Net premiums earned	12,645		3,852		2,217		8,065		712		2,347		—		—		29,838
Losses and loss expenses	7,979		2,343		1,830		4,054		565		437		275		(9)		17,474
Policy benefits	—		—		—		—		—		906		—		(116)		790
Policy acquisition costs	1,701		792		111		2,096		178		573		—		—		5,451
Administrative expenses	814		213		4		811		27		346		264		—		2,479
Underwriting income (loss)	2,151		504		272		1,104		(58)		85		(539)		125		3,644
Net investment income (loss)	1,600		199		23		460		232		359		(4)		(180)		2,689
Other (income) expense	12		3		1		3		1		(50)		73		(64)		(21)
Amortization expense of purchased intangibles	—		7		20		40		—		7		137		—		211
Segment income (loss)	$	3,739	$	693	$	274	$	1,521	$	173	$	487	$	(753)	$	9	$	6,143
Net realized gains (losses)													(778)		(9)		(787)
Interest expense													416		—		416
Cigna integration expenses													26		—		26
Income tax expense													913		—		913
Net income (loss)													$	(2,886)	$	—	$	4,001


For the Nine Months Ended September 30, 2021 (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		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	12,318	$	3,761	$	2,110	$	7,983	$	702	$	1,844	$	—	$	—	$	28,718
Net premiums earned	11,431		3,652		1,858		7,721		583		1,789		—		—		27,034
Losses and loss expenses	7,740		2,341		1,554		3,936		422		562		141		(8)		16,688
Policy benefits	—		—		—		—		—		508		—		(5)		503
Policy acquisition costs	1,540		746		100		2,070		147		538		—		—		5,141
Administrative expenses	772		200		10		811		27		247		258		—		2,325
Underwriting income (loss)	1,379		365		194		904		(13)		(66)		(399)		13		2,377
Net investment income (loss)	1,582		189		21		447		250		301		(42)		(135)		2,613
Other (income) expense	24		(3)		—		3		—		(79)		(1,845)		(130)		(2,030)
Amortization expense of purchased intangibles	—		8		20		36		—		4		148		—		216
Segment income	$	2,937	$	549	$	195	$	1,312	$	237	$	310	$	1,256	$	8	$	6,804
Net realized gains (losses)													841		(8)		833
Interest expense													366		—		366
Income tax expense													873		—		873
Net income													$	858	$	—	$	6,398

Earnings per share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share and per share data)	2022		2021		2022		2021
Numerator:
Net income	$	812	$	1,833	$	4,001	$	6,398
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	416,542,101		435,318,088		421,290,032		443,595,026
Denominator for diluted earnings per share:
Share-based compensation plans	3,076,855		3,123,550		3,733,449		3,032,989
Weighted-average shares outstanding and assumed conversions	419,618,956		438,441,638		425,023,481		446,628,015
Basic earnings per share	$	1.95	$	4.21	$	9.50	$	14.42
Diluted earnings per share	$	1.94	$	4.18	$	9.41	$	14.33
Potential anti-dilutive share conversions	1,693,502		1,758,853		1,377,784		1,439,882

General Schedule of Cash and Cash Equivalent (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash	$ 2,128	$ 1,659
Restricted cash	136	152
Total cash and restricted cash shown in the Consolidated statement of cash flows	$ 2,264	$ 1,811	$ 1,796	$ 1,836

Acquisitions (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Jul. 01, 2022

Sep. 30, 2022

Mar. 31, 2022

Sep. 30, 2021

Mar. 31, 2021

Sep. 30, 2022

Sep. 30, 2021

Dec. 31, 2021

Dec. 31, 2020

Value of business acquired (preliminary)

Goodwill

$ 16,107

$ 15,213

Other intangible assets

5,383

5,455

3,324

236

Accrued investment income

2,417

1,406

900

821

Insurance and reinsurance balances receivable

12,853

11,322

Reinsurance recoverable on losses and loss expenses

^[1]

18,754

17,366

Liability for Claims and Claims Adjustment Expense

^[1]

297

213

Other assets

13,077

11,792

Total assets

198,111

200,054

75,992

$ 72,631

75,992

$ 72,631

72,943

$ 67,811

20,520

19,101

9,586

5,947

Accounts payable, accrued expenses, and other liabilities

7,829

7,243

16,673

15,004

Deferred tax liabilities

2

389

Total liabilities

150,472

140,340

Balance – beginning of period, net of tax

47,639

59,318

47,639

59,318

59,714

Total liabilities and shareholders’ equity

198,111

200,054

Cigna integration expenses

23

0

26

0

Total revenues

12,130

10,845

31,740

30,480

Net income (loss)

812

1,833

4,001

6,398

Net premiums earned

11,535

10,000

29,838

27,034

Intangible assets subject to amortization

2,417

2,508

Intangible assets not subject to amortization

2,966

2,947

Total identified intangible assets

5,383

5,455

Huatai Group

Equity method investment, additional 31.8 percent agreed on

31.80%

Purchase of incremental ownership interest

2,200

Deposits Assets

$ 1,100

Payment to acquire additional ownership interest in equity method investment

$ 500

113

Equity method investment, additional 7.1 percentage agreed on

7.10%

Cigna's Life Insurance Business in Asia-Pacific Markets [Member]

Business Acquisition, Effective Date of Acquisition

Jul. 01, 2022

Payments to Acquire Businesses, Gross

$ 5,360

Goodwill

1,340

Other intangible assets

269

Value of business acquired (preliminary)

3,379

Accrued investment income

2,000

Investments and Cash

5,311

33

Insurance and reinsurance balances receivable

52

Reinsurance recoverable on losses and loss expenses

3

Goodwill and other intangible assets

82

1,609

Other assets

655

Total assets

11,124

Liability for Claims and Claims Adjustment Expense

10

60

3,844

Accounts payable, accrued expenses, and other liabilities

115

925

Deferred tax liabilities

839

Total liabilities

5,793

Balance – beginning of period, net of tax

5,331

Total liabilities and shareholders’ equity

11,124

Cigna integration expenses

23

26

Total revenues

681

Net income (loss)

21

Total identified intangible assets

269

Cigna's Life Insurance Business in Asia-Pacific Markets [Member] | Maturity 30 to 90 Days [Member]

Cigna's Life Insurance Business in Asia-Pacific Markets [Member] | Pro Forma

1,000

Cigna's Life Insurance Business in Asia-Pacific Markets [Member] | Trademarks

Net premiums earned

11,535

10,788

31,362

29,406

Total revenues

12,132

11,632

33,253

32,879

Net income

$ 825

$ 1,894

$ 4,203

$ 6,649

Intangible assets not subject to amortization

70

Direct ownership | Huatai Group

Equity Method Investment, Ownership Percentage

47.30%

Agency distribution relationships and renewal rights | Cigna's Life Insurance Business in Asia-Pacific Markets [Member]

Intangible assets subject to amortization

$ 190

Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life

20 years

Unearned premium reserves (UPR) intangible asset | Cigna's Life Insurance Business in Asia-Pacific Markets [Member]

Intangible assets subject to amortization

$ 9

Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life

1 year

[1]	Net of valuation allowance for uncollectible reinsurance.

Investments (Narrative) (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments [Line Items]
Restricted assets in fixed maturities and short-term investments	$ 16,202	$ 17,092
Restricted assets in cash	136	$ 152
Investments
Investments [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 950

Investments (Schedule Of Amortized Cost and Fair Value of Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 93,316		$ 90,493
Debt Securities, Available-for-sale, Allowance for Credit Loss	(147)	$ (78)	(14)	$ (12)	$ (11)	$ (20)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	119		3,220
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(9,547)		(591)
Available for sale, Fair Value	83,741		93,108
U.S. Treasury / Agency
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	2,725		2,111
Debt Securities, Available-for-sale, Allowance for Credit Loss	0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	5		109
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(174)		(6)
Available for sale, Fair Value	2,556		2,214
Non-U.S.
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	26,766		25,156
Debt Securities, Available-for-sale, Allowance for Credit Loss	(61)		(8)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	77		953
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,599)		(272)
Available for sale, Fair Value	24,183		25,829
Corporate and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	40,776		37,844
Debt Securities, Available-for-sale, Allowance for Credit Loss	(85)		(6)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	30		1,410
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(4,341)		(185)
Available for sale, Fair Value	36,380		39,063
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	18,425		20,080
Debt Securities, Available-for-sale, Allowance for Credit Loss	(1)		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1		532
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,190)		(123)
Available for sale, Fair Value	16,235		20,489
Municipal
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	4,624		5,302
Debt Securities, Available-for-sale, Allowance for Credit Loss	0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	6		216
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(243)		(5)
Available for sale, Fair Value	$ 4,387		$ 5,513

Investments (Schedule Of Amortized Cost And Fair Value Of Held-to-Maturity Fixed Maturities) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	$ 9,009		$ 10,153
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(33)	$ (34)	(35)	$ (35)	$ (37)	$ (44)
Debt securities, held to maturity, net carrying value	8,976		10,118
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	1		533
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(486)		(4)
Held to maturity, at Fair Value	8,491		10,647
U.S. Treasury / Agency
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,281		1,213
Debt Securities, Held-to-maturity, Allowance for Credit Loss	0		0
Debt securities, held to maturity, net carrying value	1,281		1,213
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0		34
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(52)		(3)
Held to maturity, at Fair Value	1,229		1,244
Non-U.S.
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,046		1,201
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(4)		(5)
Debt securities, held to maturity, net carrying value	1,042		1,196
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0		66
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(86)		0
Held to maturity, at Fair Value	956		1,262
Corporate and asset-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,769		2,032
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(27)		(28)
Debt securities, held to maturity, net carrying value	1,742		2,004
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0		197
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(157)		0
Held to maturity, at Fair Value	1,585		2,201
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,549		1,731
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(1)		(1)
Debt securities, held to maturity, net carrying value	1,548		1,730
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0		74
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(110)		(1)
Held to maturity, at Fair Value	1,438		1,803
Municipal
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	3,364		3,976
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(1)		(1)
Debt securities, held to maturity, net carrying value	3,363		3,975
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	1		162
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(81)		0
Held to maturity, at Fair Value	$ 3,283		$ 4,137

Investments (Held-to-Maturity Credit Quality Indicator) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 9,009	$ 10,153
Fixed Maturities Percent of Total Amortized cost	100.00%	100.00%
Standard & Poor's, AAA Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 1,710	$ 2,089
Fixed Maturities Percent of Total Amortized cost	19.00%	21.00%
Standard & Poor's, AA Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 4,975	$ 5,303
Fixed Maturities Percent of Total Amortized cost	55.00%	52.00%
Standard & Poor's, A Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 1,679	$ 1,964
Fixed Maturities Percent of Total Amortized cost	19.00%	19.00%
Standard & Poor's, BBB Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 622	$ 773
Fixed Maturities Percent of Total Amortized cost	7.00%	8.00%
Standard & Poor's, BB Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 23	$ 23
Fixed Maturities Percent of Total Amortized cost	0.00%	0.00%
Other [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 0	$ 1
Fixed Maturities Percent of Total Amortized cost	0.00%	0.00%

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Available for sale, Due in 1 year or less, Fair Value & Net Carrying Value	$ 3,173	$ 4,498
Available for sale, Due after 1 year through 5 years, Fair Value & Net Carrying Value	23,685	25,542
Available for sale, Due after 5 years through 10 years, Fair Value & Net Carrying Value	26,350	28,207
Available for sale, Due after 10 years, Fair Value & Net Carrying Value	14,298	14,372
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	67,506	72,619
Available for sale, Mortgage backed securities, Fair Value & Net Carrying Value	16,235	20,489
Available for sale, Fair Value	83,741	93,108
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, within one year, net carrying value	1,003	888
Held to maturity, Due in 1 year or less, Fair Value	990	894
Held-to-maturity, after one through five years, net carrying value	3,373	3,744
Held to maturity, Due after 1 year through 5, Fair Value	3,233	3,846
Held-to-maturity, after 5 through 10 years, net carrying value	1,743	2,242
Held to maturity, Due after 5 years through 10 years, Fair Value	1,677	2,349
Held-to-maturity, after 10 years, net carrying value	1,309	1,514
Held to maturity, Due after 10 years, Fair Value	1,153	1,755
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, net carrying value	7,428	8,388
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value	7,053	8,844
Held-to-maturity, MBS, net carrying value	1,548	1,730
Held to maturity, Mortgage backed securities, Fair Value	1,438	1,803
Debt securities, held to maturity, net carrying value	8,976	10,118
Held to maturity, Fair Value	$ 8,491	$ 10,647

Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Details) - Fixed Maturities [Member] - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 63,672	$ 25,041
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(6,132)	(465)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	10,149	2,159
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,819)	(104)
Debt Securities, Available-for-sale, Unrealized Loss Position	73,821	27,200
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(7,951)	(569)
U.S. Treasury / Agency
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,873	363
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(145)	(3)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	227	70
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(29)	(3)
Debt Securities, Available-for-sale, Unrealized Loss Position	2,100	433
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(174)	(6)
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	16,585	6,917
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,480)	(196)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	3,907	1,093
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(588)	(62)
Debt Securities, Available-for-sale, Unrealized Loss Position	20,492	8,010
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(2,068)	(258)
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	28,533	9,449
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(2,832)	(145)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	2,621	806
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(456)	(32)
Debt Securities, Available-for-sale, Unrealized Loss Position	31,154	10,255
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(3,288)	(177)
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	12,776	8,086
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,459)	(116)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	3,324	190
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(728)	(7)
Debt Securities, Available-for-sale, Unrealized Loss Position	16,100	8,276
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(2,187)	(123)
Municipal
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	3,905	226
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(216)	(5)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	70	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(18)	0
Debt Securities, Available-for-sale, Unrealized Loss Position	3,975	226
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (234)	$ (5)

Investments (Rollforward of expected credit-losses, AFS) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available for sale, Allowance for Credit Loss	$ 147	$ 12	$ 147	$ 12	$ 78	$ 14	$ 11	$ 20
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	91	3	169	8
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Foreign Currency Revaluation	(2)	0	(2)	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	$ (20)	$ (2)	$ (34)	$ (16)

Investments (Rollforward of expected credit losses HTM) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held to maturity, Allowance for Credit Loss	$ 33	$ 35	$ 33	$ 35	$ 34	$ 35	$ 37	$ 44
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Period Increase (Decrease)	0	0	1	0
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Recovery	$ (1)	$ (2)	$ (3)	$ (9)

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

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

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

$ 91

$ 3

$ 169

$ 8

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

(279)

(10)

(857)

26

Net realized gains (losses)

(384)

(21)

(787)

833

Foreign exchange

198

106

541

85

Fair Value on Insurance Derivatives

22

(59)

(86)

252

(141)

(82)

(87)

141

Fixed Maturities [Member]

^[1]

(40)

(4)

(114)

(5)

Debt Securities, Available-for-sale, Realized Gain

144

27

545

120

Debt Securities, Available-for-sale, Realized Loss

(331)

(27)

(1,158)

(99)

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

(70)

1

(133)

17

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

^[2]

(22)

(11)

(111)

(12)

Equity Securities

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

(80)

(42)

(287)

475

Other Investments

Net realized gains (losses)

(42)

11

17

111

Other derivative instruments

Investment and embedded derivative instruments

(19)

(10)

(9)

(8)

S&P put options and futures

(198)

(9)

(232)

9

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

$ 54

$ (4)

$ 240

$ (112)

[1]	Other realized losses includes $36 million related to impairment of fixed assets. The nine months ended September 30, 2022 also includes impairment of assets related to Chubb’s Russian entities.
[2]	Relates to certain securities we intended 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	$ (384)	$ (21)	$ (787)	$ 833
Equity Securities
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	(80)	(42)	(287)	475
Less: Net gains (losses) recognized from sales of securities	(12)	19	406	109
Unrealized Gain (Loss) on Investments	(68)	(61)	(693)	366
Other Investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	(42)	11	17	111
Less: Net gains (losses) recognized from sales of securities	0	0	0	0
Unrealized Gain (Loss) on Investments	(42)	11	17	111
Equity securities and other investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	(122)	(31)	(270)	586
Less: Net gains (losses) recognized from sales of securities	(12)	19	406	109
Unrealized Gain (Loss) on Investments	$ (110)	$ (50)	$ (676)	$ 477

Investments Entities that Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	$ 7,622	$ 7,153
Alternative Investment	12,392	10,108
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, Unfunded Commitments	528	267
Alternative Investment	1,085	1,096
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, Unfunded Commitments	807	766
Alternative Investment	2,045	1,193
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, Unfunded Commitments	746	641
Alternative Investment	1,055	753
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, Unfunded Commitments	450	279
Alternative Investment	194	84
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, Unfunded Commitments	5,091	5,200
Alternative Investment	7,548	6,647
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, Unfunded Commitments	0	0
Alternative Investment	51	68
Investment Funds 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, Unfunded Commitments	0	0
Alternative Investment	$ 414	$ 267
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	2 years	2 years

Investments (Schedule Of Components Of Restricted Assets) (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments [Line Items]
Total restricted assets	$ 16,338	$ 17,244
Asset Pledged as Collateral without Right
Investments [Line Items]
Trust funds	7,992	9,915
Deposits with U.S. regulatory authorities	2,318	2,402
Deposits with non-U.S. regulatory authorities	2,825	2,873
Assets pledged under repurchase agreements	2,529	1,420
Other pledged assets	$ 674	$ 634

Fair value measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Net realized gains (losses)	$ (384)	$ (21)	$ (787)	$ 833
GLB \| Variable Annuity
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Realized Gains Losses As A Result of Valuation Model Refinement	$ (40)

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

Sep. 30, 2022

Dec. 31, 2021

$ 83,741

$ 93,108

Short-term investments, at fair value (amortized cost – $4,536 and $3,147)

844

4,782

4,534

3,146

13,645

11,169

Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value

1,626

1,831

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

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

12,392

10,108

Policy Loans

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

316

243

Other Investments

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

50

51

U.S. Treasury / Agency

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

2,556

2,214

Non-U.S.

Corporate and asset-backed securities

24,183

25,829

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

Mortgage-backed securities

36,380

39,063

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

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

16,235

20,489

Municipal

Level 1 | Fair Value, Recurring

4,387

5,513

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

2,032

1,680

Short-term investments, at fair value (amortized cost – $4,536 and $3,147)

761

4,705

2,782

1,744

506

^[1]

286

^[2]

0

129

58

109

0

4,810

5,461

11,129

^[1]

13,934

^[2]

306

166

Derivative Instruments in Hedges, Liabilities, at Fair Value

16

0

306

182

Level 1 | Fair Value, Recurring | GLB

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

Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross

0

^[3]

0

^[4]

Level 1 | U.S. Treasury / Agency | Fair Value, Recurring

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

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

2,032

1,680

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 1 | Municipal | 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]

78,888

88,720

Short-term investments, at fair value (amortized cost – $4,536 and $3,147)

0

1,749

1,395

381

^[1]

481

^[2]

1,626

1,831

0

0

71

81

99

82,796

^[1]

92,526

^[2]

0

Derivative Instruments in Hedges, Liabilities, at Fair Value

0

101

0

Level 2 | Fair Value, Recurring | GLB

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

Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross

0

^[3]

0

^[4]

Level 2 | U.S. Treasury / Agency | Fair Value, Recurring

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

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

524

534

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

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

23,677

25,196

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

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

34,084

37,014

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

Level 2 | Municipal | Fair Value, Recurring

16,216

20,463

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

Level 3 | Fair Value, Recurring

4,387

5,513

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

2,821

2,708

Short-term investments, at fair value (amortized cost – $4,536 and $3,147)

83

77

3

7

0

^[1]

0

^[2]

0

0

0

0

0

2,907

^[1]

2,792

^[2]

0

Derivative Instruments in Hedges, Liabilities, at Fair Value

0

0

784

745

Level 3 | Fair Value, Recurring | GLB

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

Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross

^[5]

784

745

^[4]

Level 3 | U.S. Treasury / Agency | Fair Value, Recurring

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

506

633

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

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

2,296

2,049

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

Level 3 | Municipal | Fair Value, Recurring

19

26

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]

83,741

93,108

Short-term investments, at fair value (amortized cost – $4,536 and $3,147)

844

4,782

4,534

3,146

887

^[1]

767

^[2]

1,626

1,831

129

58

109

71

4,891

5,560

96,832

^[1]

109,252

^[2]

306

166

Derivative Instruments in Hedges, Liabilities, at Fair Value

16

101

1,191

927

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

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

Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross

784

^[3]

745

^[4]

Total Level 1, Level 2, and Level 3 | U.S. Treasury / Agency | Fair Value, Recurring

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

2,556

2,214

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

24,183

25,829

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

36,380

39,063

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

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

16,235

20,489

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

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

$ 4,387

$ 5,513

[1]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,392 million, policy loans of $316 million, and other investments of $50 million at September 30, 2022 measured using NAV as a practical expedient.
[2]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $10,108 million, policy loans of $243 million and other investments of $51 million at December 31, 2021, measured using NAV as a practical expedient.
[3]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
[4]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
[5]	The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the GLB contracts fair value.

Fair value measurements (Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations) (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2022

Dec. 31, 2021

^[2]

Weighted Average

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

^[1]

3.50%

Significant Unobservable Inputs Annuitization Rate

^[1]

4.60%

Minimum

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

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

3.00%

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

30.00%

Significant Unobservable Inputs Annuitization Rate

100.00%

Level 3 | Fair Value, Recurring | GLB

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

Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross

^[1]

$ 784

$ 745

[1]	The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the GLB contracts fair value.
[2]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

Fair value measurements (Assets and Liabilities, Measured At Fair Value Using Significant Unobservable Inputs) (Details) - Level 3 - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Equity Securities

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

$ 81

$ 78

$ 77

$ 73

0

1

0

Change in Net Unrealized Gains (Losses) included in OCI, Assets

0

0

3

1

7

8

3

4

6

11

(4)

(8)

(13)

0

0

Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets

83

79

83

79

3

(1)

6

5

Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets

0

Short-term Investments

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

9

3

7

5

0

Change in Net Unrealized Gains (Losses) included in OCI, Assets

0

0

(1)

0

(1)

0

1

7

8

10

0

(6)

0

(11)

(5)

0

Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets

3

10

3

10

(1)

0

(1)

0

Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets

0

Other Investments

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

10

0

Change in Net Unrealized Gains (Losses) included in OCI, Assets

(10)

0

0

0

0

0

0

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

0

Available-for-Sale Debt Securities | Non-U.S.

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

549

642

633

546

0

22

23

22

Change in Net Unrealized Gains (Losses) included in OCI, Assets

0

(23)

(10)

(34)

(15)

(88)

(2)

(4)

(3)

(6)

0

39

60

108

235

(19)

(44)

(35)

(25)

(27)

(97)

(96)

0

Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets

506

660

506

660

(1)

0

(3)

0

Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets

(35)

(15)

(89)

2

Available-for-Sale Debt Securities | Corporate and asset-backed securities

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

2,261

1,688

2,049

1,573

2

45

41

91

Change in Net Unrealized Gains (Losses) included in OCI, Assets

(4)

0

(97)

(3)

(16)

2

(68)

14

(9)

0

(9)

3

164

272

658

681

(8)

(13)

(59)

(88)

(94)

(135)

(219)

(412)

0

Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets

2,296

1,859

2,296

1,859

(3)

0

(4)

3

Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets

(19)

0

(71)

17

Available-for-Sale Debt Securities | Mortgage-backed securities

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

19

47

26

60

0

Change in Net Unrealized Gains (Losses) included in OCI, Assets

0

(5)

0

0

0

4

17

4

18

0

(1)

(4)

(11)

(6)

(24)

0

Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets

19

53

19

53

0

Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets

0

Guaranteed Minimum Income Benefit [Member]

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

Balance - Beginning of Period, Liabilities

832

^[1]

760

^[2]

745

^[2]

1,089

^[2]

Transfers into level 3, liability

0

Transfers out of Level 3, Liabilities

0

Change in Net Unrealized Gains (losses) included in OCI, Liabilities

0

Net Realized Gains/(Losses), Liabilities

(22)

^[1]

59

^[2]

86

^[2]

(252)

^[2]

Purchases, Liabilities

0

Sales, Liabilities

0

Settlements, Liabilities

0

Other, Liabilities

(26)

^[1]

(1)

^[2]

(47)

^[2]

(19)

^[2]

Balance - End of Period, Liabilities

784

^[1]

818

^[2]

784

^[1]

818

^[2]

Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Liabilities

(22)

^[1]

59

^[2]

86

^[2]

(252)

^[2]

Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Liabilities

$ 0

[1]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
[2]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.

Fair value measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	$ 8,491	$ 10,647
Debt Securities, Held-to-maturity	9,009	10,153
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	2,417	1,406
Short-term debt	1,475	999
Long-term debt	14,044	15,169
Total liabilities	150,472	140,340
Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,157	1,192
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-Term Debt, Fair Value	0	0
Long-term Debt, Fair Value	0	0
Trust preferred securities	0	0
Total liabilities	0	0
Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	7,334	9,455
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	2,417	1,406
Short-Term Debt, Fair Value	1,469	1,019
Long-term Debt, Fair Value	12,067	16,848
Trust preferred securities	387	460
Total liabilities	16,340	19,733
Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	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
Trust preferred securities	0	0
Total liabilities	0	0
Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	8,491	10,647
Estimate of Fair Value Measurement [Member] \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	2,417	1,406
Short-Term Debt, Fair Value	1,469	1,019
Long-term Debt, Fair Value	12,067	16,848
Trust preferred securities	387	460
Total liabilities	16,340	19,733
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	8,976	10,118
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	2,417	1,406
Short-term debt	1,475	999
Long-term debt	14,044	15,169
Trust preferred securities	308	308
Total liabilities	18,244	17,882
U.S. Treasury / Agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,229	1,244
Debt Securities, Held-to-maturity	1,281	1,213
U.S. Treasury / Agency \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,157	1,192
U.S. Treasury / Agency \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	72	52
U.S. Treasury / Agency \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
U.S. Treasury / Agency \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,229	1,244
U.S. Treasury / Agency \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,281	1,213
Non-U.S.
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	956	1,262
Debt Securities, Held-to-maturity	1,046	1,201
Non-U.S. \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Non-U.S. \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	956	1,262
Non-U.S. \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Non-U.S. \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	956	1,262
Non-U.S. \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,042	1,196
Corporate and asset-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,585	2,201
Debt Securities, Held-to-maturity	1,769	2,032
Corporate and asset-backed securities \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Corporate and asset-backed securities \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,585	2,201
Corporate and asset-backed securities \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Corporate and asset-backed securities \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,585	2,201
Corporate and asset-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,742	2,004
Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,438	1,803
Debt Securities, Held-to-maturity	1,549	1,731
Mortgage-backed securities \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Mortgage-backed securities \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,438	1,803
Mortgage-backed securities \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Mortgage-backed securities \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,438	1,803
Mortgage-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,548	1,730
Municipal
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	3,283	4,137
Debt Securities, Held-to-maturity	3,364	3,976
Municipal \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Municipal \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	3,283	4,137
Municipal \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Municipal \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	3,283	4,137
Municipal \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	$ 3,363	$ 3,975

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

Sep. 30, 2022

Dec. 31, 2021

Sep. 30, 2021

Dec. 31, 2020

Reinsurance Disclosures [Abstract]

Reinsurance recoverable on unpaid losses and loss expenses

^[1]

$ 17,380

$ 16,184

$ 15,550

$ 14,647

Reinsurance recoverable on paid losses and loss expenses

^[1]

1,374

1,182

Reinsurance recoverable on losses and loss expenses

^[1]

18,754

17,366

Reinsurance Recoverables on Unpaid Losses, Allowance

^[1]

297

213

297

271

Reinsurance Recoverables on Paid Losses, Allowance

55

58

Reinsurance Recoverable, Allowance for Credit Loss, Total

352

329

$ 325

$ 314

Reinsurance Recoverables on Future Policy Benefits, Allowance

$ 4

[1]	Net of valuation allowance for uncollectible reinsurance.

Reinsurance, Allowance (Details) - USD ($) $ in Millions	9 Months Ended
Reinsurance, Allowance (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021
Reinsurance Disclosures [Abstract]
Valuation allowance for uncollectible reinsurance - beginning of period	$ 329	$ 314
Provision for uncollectible reinsurance	30	16
Write-offs charged against the valuation allowance	(4)	(4)
Foreign exchange revaluation	(3)	(1)
Valuation allowance for uncollectible reinsurance - end of period	$ 352	$ 325

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

9 Months Ended

Sep. 30, 2022

USD ($)

Sep. 30, 2021

USD ($)

Unpaid Losses and Loss Expenses [Roll Forward]

Gross unpaid losses and loss expenses – beginning of period

$ 72,943

$ 67,811

Reinsurance recoverable on unpaid losses – beginning of period (1)

(16,184)

^[1]

(14,647)

^[1]

Net unpaid losses and loss expenses – beginning of period

56,759

53,164

Current Year Claims and Claims Adjustment Expense

18,426

17,556

Prior Year Claims and Claims Adjustment Expense

(952)

^[2]

(868)

^[2]

Total, Incurred

17,474

16,688

Net loss and loss expenses paid, Current Year

5,104

4,771

Net loss and loss expenses paid, Prior Years

9,217

7,922

Total, Paid

14,321

12,693

Liability For Unpaid Claims And Claims Adjustment Expense Foreign Currency Revaluation And Other

(1,300)

(78)

Net unpaid losses and loss expenses – end of period

58,612

57,081

Reinsurance recoverable on unpaid losses (1)

17,380

^[1]

15,550

^[1]

Gross unpaid losses and loss expenses – end of period

75,992

72,631

prior period development, net adjustments

243

$ 87

Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease), Gross

3,049

Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease)

$ 1,853

[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, and earned premiums totaling $243 million and $87 million for the nine months ended September 30, 2022 and 2021, respectively.

Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (222)	$ (321)	$ (709)	$ (781)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(166)	(157)	(561)	(440)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(133)	(182)	(187)	(266)
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	7	(17)	5
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(5)	(28)	(238)	(209)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(4)	22	(11)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(261)	(246)	(654)	(644)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(137)	(56)	(246)	(197)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(133)	(182)	(187)	(266)
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	7	(17)	5
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(15)	(233)	(201)
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	29	15
Short Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	39	(75)	(55)	(137)
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(29)	(101)	(315)	(243)
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	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	0	0
Long Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(5)	(13)	(5)	(8)
Long Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(4)	(7)	(26)
Long Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 73	$ 43	$ 272	$ 140

Unpaid losses and loss expenses Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (222)	$ (321)	$ (709)	$ (781)
Liability for Claims and Claims Adjustment Expense	75,992	72,631	75,992	72,631	$ 72,943	$ 67,811
Net loss and loss expenses paid, Prior Years			9,217	7,922
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	39	(75)	(55)	(137)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(261)	(246)	(654)	(644)
Boy Scouts of America Agreement in Principle [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Liability for Claims and Claims Adjustment Expense	600		600		$ 800
Net loss and loss expenses paid, Prior Years	200
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(166)	(157)	(561)	(440)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(29)	(101)	(315)	(243)
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(137)	(56)	(246)	(197)
North America Commercial P&C Insurance [Member] \| Workers' Compensation Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(164)	(97)		(255)
North America Commercial P&C Insurance [Member] \| Auto Liability [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	58			74
North America Commercial P&C Insurance [Member] \| Commercial Excess and Umbrella [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	71			74
North America Commercial P&C Insurance [Member] \| Multi-Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(66)
North America Commercial P&C Insurance [Member] \| Property and Inland Marine [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(132)
North America Agricultural Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	7	(17)	5
North America Agricultural Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
North America Agricultural Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	7	(17)	5
Corporate Segment [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	73	43	272	140
Corporate Segment [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Corporate Segment [Member] \| Other [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			155	68
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(5)	(28)	(238)	(209)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(5)	(13)	(5)	(8)
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(15)	(233)	(201)
Overseas General Insurance [Member] \| Accident and Health Insurance Product Line [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(75)
Overseas General Insurance [Member] \| Property, Liability and Casualty Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(67)	(21)
Overseas General Insurance [Member] \| Financial [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	114
Overseas General Insurance [Member] \| Personal Lines
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(53)
Overseas General Insurance [Member] \| Environmental lines [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(34)
Overseas General Insurance [Member] \| Casualty lines
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(82)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(133)	(182)	(187)	(266)
North America Personal P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
North America Personal P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(133)	(182)	(187)	(266)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(4)	22	(11)
Global Reinsurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(4)	(7)	(26)
Global Reinsurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 0	$ 0	$ 29	$ 15

Value of Business Acquired, Goodwill, and Other Intangible Assets (Narrative) (Details)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

USD ($)

Sep. 30, 2022

USD ($)

Present Value of Future Insurance Profits [Line Items]

Amortization of Value of Business Acquired (VOBA)

$ (107)

^[1]

Cigna's Life Insurance Business in Asia-Pacific Markets [Member]

Present Value of Future Insurance Profits [Line Items]

Amortization of Value of Business Acquired (VOBA)

$ 93

Fourth quarter of 2022, VOBA

$ 100

[1]	Recognized in Policy acquisition costs in the Consolidated statements of operations.

Value of Business Acquired, Goodwill, and Other Intangible Assets (VOBA) (Details)
$ in Millions

9 Months Ended

Sep. 30, 2022

USD ($)

VOBA Roll Forward

VOBA balance, beginning of year

$ 236

Acquisition of Cigna's business in Asia

3,379

Amortization of Value of Business Acquired (VOBA)

(107)

^[1]

Foreign exchange revaluation and other

(184)

VOBA balance, end of year

$ 3,324

[1]	Recognized in Policy acquisition costs in the Consolidated statements of operations.

Value of Business Acquired, Goodwill, and Other Intangible Assets (Roll-forward of Goodwill by Business Segment) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 15,213
Foreign exchange revaluation and other	(446)
Balance at end of period	16,107
North America Commercial P&C Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	6,972
Foreign exchange revaluation and other	(11)
Balance at end of period	6,961
North America Personal P&C Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	2,240
Foreign exchange revaluation and other	(4)
Balance at end of period	2,236
North America Agricultural Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	134
Foreign exchange revaluation and other	0
Balance at end of period	134
Overseas General Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	4,653
Foreign exchange revaluation and other	(431)
Balance at end of period	4,325
Global Reinsurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	371
Foreign exchange revaluation and other	0
Balance at end of period	371
Segment Life [Member]
Goodwill [Roll Forward]
Balance at beginning of period	843
Foreign exchange revaluation and other	0
Balance at end of period	2,080
Cigna's Life Insurance Business in Asia-Pacific Markets [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	1,340
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| North America Commercial P&C Insurance [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	0
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| North America Personal P&C Insurance [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	0
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| North America Agricultural Insurance [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	0
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| Overseas General Insurance [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	103
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| Global Reinsurance [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	0
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| Segment Life [Member]
Goodwill [Roll Forward]
Acquisition of Cigna's business in Asia	$ 1,237

Value of Business Acquired, Goodwill, and Other Intangible Assets (Other Intangible Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets subject to amortization	$ 2,417	$ 2,508
Intangible assets not subject to amortization	2,966	2,947
Other intangible assets	$ 5,383	$ 5,455

Value of Business Acquired, Goodwill, and Other Intangible Assets (Estimated Amortization Expense Over Next Five Years) (Details)
$ in Millions

Sep. 30, 2022

USD ($)

$ 71

268

246

229

213

198

1,225

Other Intangible Assets

25

^[1]

96

^[1]

89

^[1]

87

^[1]

84

^[1]

81

^[1]

Cigna's Life Insurance Business in Asia-Pacific Markets [Member]

462

^[1]

1

^[2]

2

^[2]

4

^[2]

5

^[2]

6

^[2]

9

^[2]

27

^[2]

The Chubb Corporation

45

^[3]

170

^[3]

153

^[3]

137

^[3]

123

^[3]

108

^[3]

Foreign currency forward contracts

$ 736

^[3]

[1]	Recorded in applicable segment(s) that acquired the intangible assets
[2]	Recorded in Life Insurance segment.
[3]	Recorded in Corporate.

Commitments, Contingencies, And Guarantees (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Oct. 06, 2022	Dec. 31, 2021
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative liability subject to a master netting agreement	$ 98	$ 98		$ 123
Repurchase agreements	2,417	2,417		1,406
Purchase Commitment, Remaining Minimum Amount Committed	630	630		771
Carrying value of limited partnerships and partially-owned investment companies included in other investments	12,000	12,000		9,800
Funding commitments relating to limited partnerships and partially-owned investment companies	7,600	7,600		7,200
Unrecognized tax benefits	57	57
Operating Lease, Right-of-Use Asset	458	458		445
Operating Lease, Liability	$ 486	$ 486		$ 484
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	Other assets		Other assets
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,700	$ 2,700
Hedged Liability, Fair Value Hedge	1,500	1,500
Foreign Currency Transaction Gain (Loss), Realized		32
Subsequent Event [Member]
Financial Instruments Owned and Pledged as Collateral [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 3,000
Fair Value Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
OCI, before Reclassifications, Net of Tax, Attributable to Parent	94	94
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion	32	32
Net Investment Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
OCI, before Reclassifications, Net of Tax, Attributable to Parent	$ 64	$ 64

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

Sep. 30, 2022

Dec. 31, 2021

Options/Futures contracts on notes, bonds, and equities

$ 5,211

$ 6,182

1,366

12,944

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

41

12

161

69

(306)

(166)

Futures contracts on equities

6,618

19,138

Other Derivatives [Member]

^[2]

952

905

Other Derivative Instruments [Member]

301

3

Guaranteed Minimum Income Benefit [Member]

1,253

908

^[3]

0

Designated as Hedging Instrument

^[3]

2,210

1,432

71

0

(101)

0

3,002

0

Fair Value Hedging

1,501

0

Net Investment Hedging

Other Assets [Member] | Foreign currency forward contracts

1,501

0

Other Assets [Member] | Options/Futures contracts on notes, bonds, and equities

72

25

Other Assets [Member] | Futures contracts on equities

57

33

Other Assets [Member] | Other Derivatives [Member]

^[2]

107

0

Other Assets [Member] | Other Derivative Instruments [Member]

2

0

Other Assets [Member] | Fair Value Hedging

109

0

Other Assets [Member] | Net Investment Hedging

0

Fixed Maturities [Member] | Convertible securities

71

0

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Foreign currency forward contracts

^[1]

32

11

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Options/Futures contracts on notes, bonds, and equities

(277)

(139)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Futures contracts on equities

(29)

(27)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Other Derivatives [Member]

^[2]

0

(16)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Other Derivative Instruments [Member]

0

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Guaranteed Minimum Income Benefit [Member]

0

(16)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Fair Value Hedging

^[3]

(784)

(745)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Net Investment Hedging

(94)

0

Equity Securities | Convertible securities

(7)

0

Derivative Instruments, Gain (Loss) [Line Items]

^[1]

$ 0

[1]	Includes fair value of embedded derivatives.
[2]	Related to GMDB and GLB book of business.
[3]	Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.

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

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Foreign currency forward contracts

$ (141)

$ (82)

$ (87)

$ 141

Derivative Instruments, Gain (Loss) [Line Items]

All Other Futures Contracts, Options and equities [Member]

(247)

(15)

(515)

(37)

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

49

6

285

45

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

0

(2)

1

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

(198)

(9)

(232)

9

GLB

Futures contracts on equities

22

(59)

(86)

252

Derivative Instruments, Gain (Loss) [Line Items]

Other Derivatives [Member]

^[2]

54

(4)

240

(112)

Derivative Instruments, Gain (Loss) [Line Items]

Guaranteed Living Benefit And Other Derivative Instruments [Member]

(19)

(10)

(9)

(8)

Derivative Instruments, Gain (Loss) [Line Items]

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

$ 57

$ (73)

$ 145

$ 132

[1]	Includes embedded derivatives.
[2]	Related to GMDB and GLB book of business.

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 1,626	$ 1,831
Securities lending payable	1,626	1,831
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	857	931
U.S. Treasury / Agency \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	93	128
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	641	752
Corporate and asset-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	35	12
Mortgage-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	0	1
Equity Securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 0	$ 7

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Collateral pledged under repurchase agreements) (Details) - USD ($)
$ in Millions

Sep. 30, 2022

Dec. 31, 2021

Asset Pledged as Collateral without Right

$ 2,417

$ 1,406

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Cash [Member] | Asset Pledged as Collateral without Right

2,529

1,420

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

U.S. Treasury / Agency | Asset Pledged as Collateral without Right

76

29

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Mortgage-backed securities | Asset Pledged as Collateral without Right

102

103

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Repurchase Agreements [Member]

2,351

1,288

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Secured Borrowings, Gross, Difference, Amount

^[1]

112

14

Maturity Less than 30 Days [Member] | Asset Pledged as Collateral without Right

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Less than 30 Days [Member] | Cash [Member] | Asset Pledged as Collateral without Right

416

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Less than 30 Days [Member] | U.S. Treasury / Agency | Asset Pledged as Collateral without Right

66

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Less than 30 Days [Member] | Mortgage-backed securities | Asset Pledged as Collateral without Right

0

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity 30 to 90 Days [Member] | Asset Pledged as Collateral without Right

350

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity 30 to 90 Days [Member] | Cash [Member] | Asset Pledged as Collateral without Right

1,642

103

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity 30 to 90 Days [Member] | U.S. Treasury / Agency | Asset Pledged as Collateral without Right

10

0

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity 30 to 90 Days [Member] | Mortgage-backed securities | Asset Pledged as Collateral without Right

102

103

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Greater than 90 Days [Member] | Asset Pledged as Collateral without Right

1,530

0

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Greater than 90 Days [Member] | Cash [Member] | Asset Pledged as Collateral without Right

471

1,317

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Greater than 90 Days [Member] | U.S. Treasury / Agency | Asset Pledged as Collateral without Right

0

29

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

Maturity Greater than 90 Days [Member] | Mortgage-backed securities | Asset Pledged as Collateral without Right

0

Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]

$ 471

$ 1,288

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

Shareholders' equity (Details)			3 Months Ended	9 Months Ended
Shareholders' equity (Details)	Aug. 04, 2022 shares	Jan. 17, 2022 shares	Sep. 30, 2021 shares	Sep. 30, 2022 SFr / shares shares	May 19, 2022 $ / shares	Dec. 31, 2021 SFr / shares shares	May 20, 2021 $ / shares	May 20, 2020 $ / shares
Stockholders' Equity Note [Abstract]
Common Shares, par value \| SFr / shares				SFr 24.15		SFr 24.15
Common Shares in treasury, shares				31,356,130		47,448,502
Treasury Stock, Shares, Retired	13,179,100	14,465,400		27,644,500
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures				2,470,600
Common Stock, Dividend Rate Approved \| $ / shares					$ 0.83		$ 0.80	$ 0.78
Annual dividend per share approved by shareholders \| $ / shares					3.32		3.20	3.12
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividend Rate Approved \| $ / shares					$ 0.83		$ 0.80	$ 0.78
Treasury Stock, Shares, Retired	13,179,100	14,465,400		27,644,500
Nov 2020 Stock Repurchase Plan
Stockholders' Equity Note [Abstract]
Number of shares repurchased			8,412,000

Shareholders' equity Dividends Declared (Details)	3 Months Ended				9 Months Ended
Shareholders' equity Dividends Declared (Details)	Sep. 30, 2022 SFr / shares	Sep. 30, 2022 $ / shares	Sep. 30, 2021 SFr / shares	Sep. 30, 2021 $ / shares	Sep. 30, 2022 SFr / shares	Sep. 30, 2022 $ / shares	Sep. 30, 2021 SFr / shares	Sep. 30, 2021 $ / shares
United States of America, Dollars
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| $ / shares		$ 0.83		$ 0.80		$ 2.46		$ 2.38
Switzerland, Francs
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| SFr / shares	SFr 0.78		SFr 0.73		SFr 2.32		SFr 2.14

Shareholders' equity Share Repurchases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 19, 2022	Jul. 19, 2021	Feb. 01, 2021	Nov. 19, 2020
Nov 2019 Stock Repurchase Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased				22,877,400
Cost of shares repurchased				$ 3,956
Repurchase authorization remaining at end of period		$ 3,551		3,551
Nov 2020 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount							$ 2,500	$ 1,500
Number of shares repurchased		8,412,000
Cost of shares repurchased		$ 1,516
Repurchase authorization remaining at end of period		$ 3,551		$ 3,551
CB_Increase(Decrease)StockRepurchaseProgramAuthorizedAmount							$ 1,000
July 2021 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount						$ 5,000
Number of shares repurchased			14,022,728
Cost of shares repurchased			$ 2,815
May 2022 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount					$ 2,500
Number of shares repurchased	3,676,528
Cost of shares repurchased	$ 685
Repurchase authorization remaining at end of period	$ 1,816		$ 1,816

Shareholders' equity AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Shareholders' equity AOCI (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax			$ 59,714
Balance – end of period, net of tax	$ 47,639	$ 59,318	47,639	$ 59,318
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(5,713)	3,342	2,256	4,673
OCI, before Reclassifications, before Tax, Attributable to Parent	(3,324)	(564)	(12,898)	(2,151)
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	279	10	857	(26)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(3,045)	(554)	(12,041)	(2,177)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	147	98	1,174	390
Balance – end of period, net of tax	(8,611)	2,886	(8,611)	2,886
Cumulative Foreign Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(2,821)	(1,323)	(2,146)	(1,637)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(966)	(414)	(1,676)	(84)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	6	23	41	7
Balance – end of period, net of tax	(3,781)	(1,714)	(3,781)	(1,714)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	0	0	0	0
OCI, before Reclassifications, before Tax, Attributable to Parent	(94)	0	(94)	0
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	32	0	32	0
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(62)	0	(62)	0
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	13	0	13	0
Balance – end of period, net of tax	(49)	0	(49)	0
Postretirement Benefit Liability Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	259	(197)	240	(167)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	3	4	27	(33)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	(1)	(1)	(6)	6
Balance – end of period, net of tax	261	(194)	261	(194)
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(8,275)	1,822	350	2,869
Balance – end of period, net of tax	$ (12,180)	$ 978	$ (12,180)	$ 978

Shareholders' equity AOCI Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity, Class of Treasury Stock [Line Items]
Foreign Currency Transaction Gain (Loss), Realized			$ 32
Income tax expense	$ 265	$ 218	913	$ 873
Net income (loss)	812	1,833	4,001	6,398
Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Net income (loss)	(265)	(7)	(744)	31
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Debt Securities, Available-for-sale, Realized Gain	(279)	(10)	(857)	26
Income tax expense	39	3	138	5
Net income (loss)	(240)	(7)	(719)	31
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	(32)	0	(32)	0
Income tax expense	7	0	7	0
Net income (loss)	$ (25)	$ 0	$ (25)	$ 0

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Equity in net income of partially-owned entities

Share-Based Compensation (Detail) - $ / shares		9 Months Ended
Share-Based Compensation (Detail) - $ / shares	Feb. 24, 2022	Sep. 30, 2022
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		3 years
Award term period in years		10 years
Stock options granted	1,699,554
Weighted-average grant date fair value for stock options granted	$ 35.21
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	807,194
Grant date fair value of awards except for options granted to employees and officers of the company	$ 199.03
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	294,229
Grant date fair value of awards except for options granted to employees and officers of the company	$ 199.03
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	295,301
Grant date fair value of awards except for options granted to employees and officers of the company	$ 199.03

Postretirement benefits Components of net periodic benefit costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 1	$ 1	$ 3	$ 3
Non-service (benefit) cost	(55)	(50)	(164)	(153)
Net periodic benefit cost (benefit)	(54)	(49)	(161)	(150)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	1	0	1
Interest cost	0	1	1	1
Expected return on plan assets	0	(1)	(1)	(1)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	0
Amortization of prior service cost	0	0	0	(26)
Settlements	0	0	0	0
Non-service (benefit) cost	0	0	0	(26)
Net periodic benefit cost (benefit)	0	1	0	(25)
Losses and loss expenses \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Non-service (benefit) cost	(5)	(5)	(15)	(14)
Losses and loss expenses \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Non-service (benefit) cost	0	0	0	(3)
Administrative Expense \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	1	1	3	3
Non-service (benefit) cost	(50)	(45)	(149)	(139)
Administrative Expense \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	1	0	1
Non-service (benefit) cost	0	0	0	(23)
Foreign Plan [Member] \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	1	1	3	3
Interest cost	5	5	17	14
Expected return on plan assets	(11)	(10)	(33)	(32)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	2
Amortization of prior service cost	0	0	0	0
Settlements	0	0	0	0
Non-service (benefit) cost	(6)	(5)	(16)	(16)
Net periodic benefit cost (benefit)	(5)	(4)	(13)	(13)
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Interest cost	21	18	64	53
Expected return on plan assets	(70)	(64)	(212)	(191)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	0
Amortization of prior service cost	0	0	0	0
Settlements	0	1	0	1
Non-service (benefit) cost	(49)	(45)	(148)	(137)
Net periodic benefit cost (benefit)	$ (49)	$ (45)	$ (148)	$ (137)

Other Income and Expense (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

^[1]

$ (98)

$ 802

$ 192

$ 2,073

Gains (losses) from fair value changes in separate account assets

^[2]

(67)

(24)

(116)

(5)

Federal excise and capital taxes

(6)

(5)

(15)

Partially-owned Investment Companies

(17)

(10)

(40)

(23)

Total

(188)

763

21

2,030

Unrealized Gain (Loss) on Investments

(190)

702

(69)

1,776

Huatai Group

Equity in net income of partially-owned entities

$ 28

$ 40

$ 83

$ 144

[1]

Equity in net income (loss) of partially-owned entities principally comprises mark-to-market gain (loss) on private equities where we own more than three percent of $(190) million and $(69) million for the three and nine months ended September 30, 2022, respectively, and $702 million and $1,776 million, respectively, for the prior year periods. This line item also includes net income of $28 million and $83 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and nine months ended September 30, 2022, respectively, compared to $40 million and $144 million, respectively, for the prior year periods.

[2]

Related to gains (losses) from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP.

Segment information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net premiums written	$ 12,020	$ 10,510	$ 31,521	$ 28,718
Net premiums earned	11,535	10,000	29,838	27,034
Losses and loss expenses	7,279	6,629	17,474	16,688
Policy benefits	486	151	790	503
Policy acquisition costs	1,975	1,778	5,451	5,141
Administrative expenses	883	806	2,479	2,325
Underwriting income (loss)	912	636	3,644	2,377
Net investment income (loss)	979	866	2,689	2,613
Other (income) expense	188	(763)	(21)	(2,030)
Amortization of purchased intangibles	69	71	211	216
Segment Income (loss)	1,634	2,194	6,143	6,804
Net realized gains (losses)	(384)	(21)	(787)	833
Interest expense	150	122	416	366
Cigna integration expenses	23	0	26	0
Income tax expense	265	218	913	873
Net income	812	1,833	4,001	6,398
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Losses and loss expenses	(19)	(10)	(9)	(8)
Policy benefits	(67)	(24)	(116)	(5)
Policy acquisition costs	0	0	0	0
Administrative expenses	0	0	0	0
Underwriting income (loss)	86	34	125	13
Net investment income (loss)	(69)	(55)	(180)	(135)
Other (income) expense	(2)	(31)	(64)	(130)
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	19	10	9	8
Net realized gains (losses)	(19)	(10)	(9)	(8)
Interest expense	0	0	0	0
Cigna integration expenses	0		0
Income tax expense	0	0	0	0
Net income	0	0	0	0
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	4,722	4,369	13,426	12,318
Net premiums earned	4,283	3,954	12,645	11,431
Losses and loss expenses	3,036	2,754	7,979	7,740
Policy benefits	0	0	0	0
Policy acquisition costs	583	537	1,701	1,540
Administrative expenses	272	273	814	772
Underwriting income (loss)	392	390	2,151	1,379
Net investment income (loss)	589	507	1,600	1,582
Other (income) expense	6	8	12	24
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	975	889	3,739	2,937
North America Personal P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,392	1,300	3,998	3,761
Net premiums earned	1,334	1,244	3,852	3,652
Losses and loss expenses	857	846	2,343	2,341
Policy benefits	0	0	0	0
Policy acquisition costs	274	254	792	746
Administrative expenses	71	73	213	200
Underwriting income (loss)	132	71	504	365
Net investment income (loss)	76	60	199	189
Other (income) expense	1	1	3	(3)
Amortization of purchased intangibles	2	2	7	8
Segment Income (loss)	205	128	693	549
North America Agricultural Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,723	1,415	2,523	2,110
Net premiums earned	1,673	1,338	2,217	1,858
Losses and loss expenses	1,444	1,138	1,830	1,554
Policy benefits	0	0	0	0
Policy acquisition costs	68	61	111	100
Administrative expenses	3	4	4	10
Underwriting income (loss)	158	135	272	194
Net investment income (loss)	9	6	23	21
Other (income) expense	1	0	1	0
Amortization of purchased intangibles	7	7	20	20
Segment Income (loss)	159	134	274	195
Overseas General Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	2,645	2,596	8,364	7,983
Net premiums earned	2,741	2,664	8,065	7,721
Losses and loss expenses	1,441	1,487	4,054	3,936
Policy benefits	0	0	0	0
Policy acquisition costs	720	703	2,096	2,070
Administrative expenses	264	266	811	811
Underwriting income (loss)	316	208	1,104	904
Net investment income (loss)	151	157	460	447
Other (income) expense	(2)	0	3	3
Amortization of purchased intangibles	12	11	40	36
Segment Income (loss)	457	354	1,521	1,312
Global Reinsurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	265	221	780	702
Net premiums earned	255	211	712	583
Losses and loss expenses	311	192	565	422
Policy benefits	0	0	0	0
Policy acquisition costs	59	55	178	147
Administrative expenses	8	9	27	27
Underwriting income (loss)	(123)	(45)	(58)	(13)
Net investment income (loss)	71	99	232	250
Other (income) expense	0	0	1	0
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	(52)	54	173	237
Life Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,273	609	2,430	1,844
Net premiums earned	1,249	589	2,347	1,789
Losses and loss expenses	135	179	437	562
Policy benefits	553	175	906	508
Policy acquisition costs	271	168	573	538
Administrative expenses	174	82	346	247
Underwriting income (loss)	116	(15)	85	(66)
Net investment income (loss)	147	102	359	301
Other (income) expense	(10)	(19)	(50)	(79)
Amortization of purchased intangibles	2	2	7	4
Segment Income (loss)	271	104	487	310
Segment Corporate and Other
Segment Reporting Information [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Losses and loss expenses	74	43	275	141
Policy benefits	0	0	0	0
Policy acquisition costs	0	0	0	0
Administrative expenses	91	99	264	258
Underwriting income (loss)	(165)	(142)	(539)	(399)
Net investment income (loss)	5	(10)	(4)	(42)
Other (income) expense	194	(722)	73	(1,845)
Amortization of purchased intangibles	46	49	137	148
Segment Income (loss)	(400)	521	(753)	1,256
Net realized gains (losses)	(365)	(11)	(778)	841
Interest expense	150	122	416	366
Cigna integration expenses	23		26
Income tax expense	265	218	913	873
Net income	$ (1,203)	$ 170	$ (2,886)	$ 858

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ 812	$ 1,833	$ 4,001	$ 6,398
Weighted-average shares outstanding	416,542,101	435,318,088	421,290,032	443,595,026
Share-based compensation plans	3,076,855	3,123,550	3,733,449	3,032,989
Weighted-average shares outstanding and assumed conversions	419,618,956	438,441,638	425,023,481	446,628,015
Basic earnings (loss) per share (US$ per share)	$ 1.95	$ 4.21	$ 9.50	$ 14.42
Diluted earnings (loss) per share (US$ per share)	$ 1.94	$ 4.18	$ 9.41	$ 14.33
Potential anti-dilutive share conversions	1,693,502	1,758,853	1,377,784	1,439,882

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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