CHUBB LTD, 10-K filed on 2/27/2025
Annual Report
v3.25.0.1
Document and Entity Information
$ in Billions
 12 Months Ended
Dec. 31, 2024
SFr / shares
Feb. 20, 2025
shares
Jun. 30, 2024
USD ($)
Dec. 31, 2023
SFr / shares
Document Annual Report true      
Document Transition Report false      
Entity Address, Address Line One Baerengasse 32      
Entity Address, City or Town Zurich      
ICFR Auditor Attestation Flag true      
Common Shares, par value | SFr / shares SFr 0.50     SFr 0.50
Entity Common Stock, Shares Outstanding | shares   400,412,084    
Document Financial Statement Error Correction [Flag] false      
Auditor Location Philadelphia, Pennsylvania      
ICFR Auditor Attestation Flag true      
Document Type 10-K      
Document Period End Date Dec. 31, 2024      
Entity File Number 1-11778      
Entity Registrant Name CHUBB LIMITED      
Entity Incorporation, State or Country Code V8      
Entity Tax Identification Number 98-0091805      
Entity Address, Country CH      
Entity Address, Postal Zip Code 8001      
Country Region 41      
City Area Code (0)43      
Local Phone Number 456 76 00      
Amendment Flag false      
Document Fiscal Year Focus 2024      
Document Fiscal Period Focus FY      
Entity Central Index Key 0000896159      
Current Fiscal Year End Date --12-31      
Entity Well-known Seasoned Issuer Yes      
Entity Voluntary Filers No      
Entity Current Reporting Status Yes      
Entity Interactive Data Current Yes      
Entity Filer Category Large Accelerated Filer      
Entity Small Business false      
Entity Emerging Growth Company false      
Entity Shell Company false      
Entity Public Float | $     $ 103  
Common Class A [Member]        
Title of 12(b) Security Common Shares, par value CHF 0.50 per share      
Trading Symbol CB      
Security Exchange Name NYSE      
INA Senior Notes Due June 2027 [Member]        
Title of 12(b) Security Guarantee of Chubb INA Holdings LLC 0.875% Senior Notes due 2027      
Trading Symbol CB/27      
Security Exchange Name NYSE      
INA Senior Notes Due March 2028 [Member]        
Title of 12(b) Security Guarantee of Chubb INA Holdings LLC 1.55% Senior Notes due 2028      
Trading Symbol CB/28      
Security Exchange Name NYSE      
INA Senior Notes Due December 2029 [Member]        
Title of 12(b) Security Guarantee of Chubb INA Holdings LLC 0.875% Senior Notes due 2029      
Trading Symbol CB/29A      
Security Exchange Name NYSE      
INA Senior Notes Due June 2031 [Member]        
Title of 12(b) Security Guarantee of Chubb INA Holdings LLC 1.40% Senior Notes due 2031      
Trading Symbol CB/31      
Security Exchange Name NYSE      
INA Senior Notes Due March 2038 [Member]        
Title of 12(b) Security Guarantee of Chubb INA Holdings LLC 2.50% Senior Notes due 2038      
Trading Symbol CB/38A      
Security Exchange Name NYSE      
v3.25.0.1
Auditor Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Philadelphia, Pennsylvania
Auditor Firm ID 238
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Short-term investments, at fair value (amortized cost – $5,143 and $4,551) (includes variable interest entities (VIE) balances of $57 and $217) $ 5,142 $ 4,551
Fixed maturities available-for-sale, at fair value, net of valuation allowance – $70 and $156 (amortized cost – $115,083 and $111,128) 110,363 106,571
Private debt held-for-investment, at amortized cost, net of valuation allowance – $4 and $4 2,628 2,553
Equity securities, at fair value (includes VIE balances of $1,289 and $1,078) 9,151 3,455
Private equities (includes VIE balances of $22 and $21) 14,769 14,078
Other investments (includes VIE balances of $4,538 and $3,773) 8,597 5,527
Total investments 150,650 136,735
Cash, including restricted cash $261 and $172 (includes VIE balances of $114 and $117) 2,549 2,621
Securities lending collateral 1,445 1,299
Accrued investment income 1,160 1,086
Insurance and reinsurance balances receivable, net of valuation allowance – $59 and $53 14,426 13,379
Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $310 and $367 [1] 19,777 19,952
Reinsurance recoverable on policy benefits 289 280
Deferred policy acquisition costs 8,358 7,152
Value of business acquired 3,223 3,674
Goodwill 19,579 [2] 19,686
Other intangible assets 6,377 6,775
Deferred tax assets 1,603 1,741
Prepaid reinsurance premiums 3,378 3,221
Separate account assets 6,231 5,573
Other assets (includes VIE balances of $26 and $33) 7,503 7,508
Total assets 246,548 230,682
Liabilities    
Unpaid losses and loss expenses 84,004 80,122
Unearned premiums 23,504 22,051
Future policy benefits 16,121 13,888
Market risk benefits 607 771
Policyholders' account balances 8,016 7,462
Separate account liabilities 6,231 5,573
Insurance and reinsurance balances payable 8,121 8,302
Securities lending payable 1,445 1,299
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $183 and $18) 10,192 8,332
Deferred tax liabilities 1,584 1,555
Repurchase agreements (includes VIE balances of $815 and $1,009) 2,731 2,833
Short-term debt 800 1,460
Long-term debt 14,379 13,035
Hybrid debt 419 308
Total liabilities 178,154 166,991
Commitments and contingencies (refer to Note 14)
Shareholders' equity    
Common Shares (CHF 0.50 par value; 419,625,986 and 431,451,586 shares issued; 400,703,663 and 405,269,637 shares outstanding) 235 241
Common Shares in treasury (18,922,323 and 26,181,949 shares) (3,524) (4,400)
Additional paid-in capital 14,393 15,665
Retained earnings 61,561 54,810
Accumulated other comprehensive income (loss) (AOCI) (8,644) (6,809)
Total Chubb shareholders' equity 64,021 59,507
Noncontrolling interests (includes VIE balances of $3,459 and $2,705) 4,373 4,184
Total shareholders’ equity 68,394 63,691
Total liabilities and shareholders’ equity $ 246,548 $ 230,682
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $499 million attributable to noncontrolling interests
v3.25.0.1
Consolidated Balance Sheets (Parentheticals)
$ in Millions
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Statement of Financial Position [Abstract]    
Short-term investments amortized cost $ 5,143 $ 4,551
Fixed maturities, available-for-sale, valuation allowance 70 156
Fixed maturities, available-for-sale, at amortized cost 115,083 111,128
Private debt, held-for-investment, valuation allowance 4 4
Restricted Cash 261 172
Insurance and reinsurance balances receivable, Allowance for Credit Losses 59 53
Valuation allowance for uncollectible reinsurance $ 310 $ 367
Common Shares, shares issued | shares 419,625,986 431,451,586
Common Shares, shares outstanding | shares 400,703,663 405,269,637
Treasury Stock, Common, Shares | shares 18,922,323 26,181,949
Short-term investments $ 5,142 $ 4,551
Equity securities 9,151 3,455
Private equities 14,769 14,078
Other investments 8,597 5,527
Cash, including restricted cash 2,549 2,621
Other assets 7,503 7,508
Repurchase agreements 2,731 2,833
Noncontrolling interests 4,373 4,184
Variable Interest Entity, Primary Beneficiary    
Short-term investments 57 217
Equity securities 1,289 1,078
Private equities 22 21
Other investments 4,538 3,773
Cash, including restricted cash 114 117
Other assets 26 33
Other liabilities 183 18
Repurchase agreements 815 1,009
Noncontrolling interests $ 3,459 $ 2,705
v3.25.0.1
Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Net premiums written $ 51,468 $ 47,361 $ 41,720
Increase in unearned premiums (1,622) (1,649) (1,360)
Net premiums earned 49,846 45,712 40,360
Net investment income 5,930 4,937 3,742
Net realized gains (losses) 117 (607) (1,085)
Market risk benefits gains (losses) (140) (307) 80
Total revenues 55,753 49,735 43,097
Expenses      
Losses and loss expenses 26,022 24,100 22,572
Policy benefits (includes remeasurement gains (losses) of $(2), $19, and $3) 4,714 3,628 2,314
Policy acquisition costs 9,102 8,259 7,339
Administrative expenses 4,380 4,007 3,395
Interest expense 741 672 570
Other (income) expense (1,023) (836) 89
Amortization of purchased intangibles 323 310 285
Integration expenses 39 69 48
Total expenses 44,298 40,209 36,612
Income before income tax 11,455 9,526 6,485
Income tax expense 1,815 511 1,239
Net income 9,640 9,015 5,246
Net income (loss) attributable to noncontrolling interests 368 (13) 0
Net income attributable to Chubb 9,272 9,028 5,246
Other comprehensive income (loss):      
Unrealized appreciation (depreciation) (251) 3,448 (10,578)
Current discount rate on future policy benefits (701) 84 1,480
Instrument-specific credit risk on market risk benefits 7 2 33
Cumulative foreign currency translation adjustment (1,177) (13) (911)
Other, including postretirement benefit liability adjustment 257 157 (100)
Other comprehensive income (loss), before income tax (1,865) 3,678 (10,076)
Income tax (expense) benefit related to OCI items (117) (317) 965
Other comprehensive income (loss) (1,982) 3,361 (9,111)
Comprehensive income (loss) 7,658 12,376 (3,865)
Comprehensive income (loss) attributable to noncontrolling interests 221 (28) 0
Comprehensive income (loss) attributable to Chubb $ 7,437 $ 12,404 $ (3,865)
Earnings per share      
Basic earnings per share attributable to Chubb $ 22.94 $ 21.97 $ 12.50
Diluted earnings per share attributable to Chubb $ 22.70 $ 21.80 $ 12.39
v3.25.0.1
Consolidated Statements of Operations and Comprehensive Income (Parentheticals) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Liability for Future Policy Benefit, Remeasurement Gain (Loss) $ (2) $ 19 $ 3
v3.25.0.1
Consolidated Statements Of Shareholders' Equity - USD ($)
$ in Millions
Total
Common Shares
Treasury Stock, Common
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income
Noncontrolling Interest
Noncontrolling interests             $ 0
Balance – beginning of year, net of tax at Dec. 31, 2021   $ 10,985 $ (7,464) $ 8,478 $ 47,403 $ (1,074)  
CB_Par Value Reduction   0   0      
Treasury Stock, Retired, Cost Method, Amount   (639) 4,983   (4,344)    
Common Shares repurchased     (3,014)        
Net shares issued under employee share-based compensation plans     382 (173)      
Stock Issued During Period, Value, Stock Options Exercised       (43)      
Share-based compensation expense       283      
Noncontrolling Interest, Increase from Business Combination       0      
FundingDividendsDeclaredToRetainedEarnings       (1,379)      
Net income attributable to Chubb $ 5,246       5,246    
Funding Dividends Declared From Additional Paid In Capital         1,379    
Dividends declared on Common Shares         (1,379)    
Other Comprehensive Income (Loss), Net of Tax (9,111)         (9,111)  
Balance – end of year, net of tax at Dec. 31, 2022 50,519 10,346 (5,113) 7,166 48,305 (10,185)  
Net increase (decrease) due to consolidation, deconsolidation, and other transactions             0
Net income (loss) attributable to noncontrolling interests 0           0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest             0
Other increase (decrease) in noncontrolling interest             0
Noncontrolling interests             0
Total shareholders’ equity 50,519            
CB_Par Value Reduction   (9,759)   9,759      
Treasury Stock, Retired, Cost Method, Amount   (346) 2,869   (2,523)    
Common Shares repurchased     (2,478)        
Net shares issued under employee share-based compensation plans     322 (192)      
Stock Issued During Period, Value, Stock Options Exercised       (20)      
Share-based compensation expense       322      
Noncontrolling Interest, Increase from Business Combination       31      
FundingDividendsDeclaredToRetainedEarnings       (1,401)      
Net income attributable to Chubb 9,028       9,028    
Funding Dividends Declared From Additional Paid In Capital         1,401    
Dividends declared on Common Shares         (1,401)    
Other Comprehensive Income (Loss), Net of Tax 3,361         3,376  
Balance – end of year, net of tax at Dec. 31, 2023 59,507 241 (4,400) 15,665 54,810 (6,809)  
Net increase (decrease) due to consolidation, deconsolidation, and other transactions             4,212
Net income (loss) attributable to noncontrolling interests (13)           (13)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest             (15)
Other increase (decrease) in noncontrolling interest             0
Noncontrolling interests 4,184           4,184
Total shareholders’ equity 63,691            
CB_Par Value Reduction   0   0      
Treasury Stock, Retired, Cost Method, Amount   (6) 2,527   (2,521)    
Common Shares repurchased     (2,024)        
Net shares issued under employee share-based compensation plans     373 (124)      
Stock Issued During Period, Value, Stock Options Exercised       (23)      
Share-based compensation expense       361      
Noncontrolling Interest, Increase from Business Combination       (31)      
FundingDividendsDeclaredToRetainedEarnings       (1,455)      
Net income attributable to Chubb 9,272       9,272    
Funding Dividends Declared From Additional Paid In Capital         1,455    
Dividends declared on Common Shares         (1,455)    
Other Comprehensive Income (Loss), Net of Tax (1,982)         (1,835)  
Balance – end of year, net of tax at Dec. 31, 2024 64,021 $ 235 $ (3,524) $ 14,393 $ 61,561 $ (8,644)  
Net increase (decrease) due to consolidation, deconsolidation, and other transactions             (26)
Net income (loss) attributable to noncontrolling interests 368           368
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest             (147)
Other increase (decrease) in noncontrolling interest             (6)
Noncontrolling interests 4,373           $ 4,373
Total shareholders’ equity $ 68,394            
v3.25.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Adjustments to reconcile net income to net cash flows from operating activities      
Net Realized Gains Losses $ (117) $ 607 $ 1,085
Accretion (Amortization) of Discounts and Premiums, Investments (367) (148) 189
Amortization of purchased intangibles 323 310 285
Deferred income taxes 96 (1,124) 318
Equity in net income of subsidiaries and affiliates (967) (867) (1)
Unpaid losses and loss expenses 4,567 3,470 4,259
Unearned premiums 1,805 1,377 1,435
Future policy benefits 1,841 848 333
Insurance and reinsurance balances payable (105) (155) 446
Accounts payable, accrued expenses, and other liabilities 342 (735) (68)
Income taxes 69 128 (149)
Insurance and reinsurance balances receivable (1,278) (1,072) (696)
Reinsurance recoverable (30) (498) (1,737)
Deferred policy acquisition costs (1,429) (1,100) (396)
Net sales of investments by consolidated investment products 278 450 0
Other 1,374 1,819 789
Net Cash Provided by (Used) in Operating Activities, Total 16,182 12,632 11,258
Cash flows from investing activities      
Purchases of fixed maturities available-for-sale (33,759) (28,672) (27,844)
Purchases of fixed maturities held-to-maturity 0 (208) (618)
Purchases of equity securities (4,333) (1,395) (895)
Sales of fixed maturities available-for-sale 12,815 14,593 16,855
Sales of equity securities 2,996 1,084 4,615
Maturities and redemptions of fixed maturities available-for-sale 10,810 7,026 9,415
Maturities and redemptions of fixed maturities held-to-maturity 0 708 1,712
Net change in short-term investments (763) 1,169 (1,452)
Net derivative instruments settlements (93) (153) (84)
Private equity contributions (1,070) (2,024) (2,649)
Private equity distributions 1,397 1,164 1,017
Acquisition of subsidiaries (net of cash acquired of nil, $560, and $366) (538) (34) (5,166)
Cash And Cash Equivalents Increase (Decrease) Due To Consolidation And Deconsolidation Of Investment Products 27 (17) 0
Other (1,412) (889) (560)
Net Cash Provided by (Used in) Investing Activities (13,923) (7,648) (5,654)
Cash flows from financing activities      
Dividends paid on Common Shares (1,436) (1,394) (1,375)
Common Shares repurchased (1,801) (2,411) (2,894)
Proceeds from issuance of long-term debt 2,408 0 0
Proceeds from issuance of repurchase agreements 4,505 4,984 4,510
Repayments of Long-term Debt (1,437) (475) (1,000)
Repayment of repurchase agreements (4,822) (4,728) (4,508)
Proceeds from share-based compensation plans 356 212 264
Policyholder contract deposits 1,024 645 488
Policyholder contract withdrawals (709) (458) (521)
Third-party capital invested into consolidated investment products 1,614 126 0
Third-party capital distributed by consolidated investment products (1,621) (745) 0
Tax withholding payments for share-based compensation plans (262) (245) (106)
Net cash flows (used for) from financing activities (2,181) (4,489) (5,142)
Effect of foreign currency rate changes on cash and restricted cash (150) (1) (146)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (72) 494 316
Cash and restricted cash - beginning of year 2,621 2,127 1,811
Cash and restricted cash - end of year 2,549 2,621 2,127
Supplemental cash flow information      
Taxes paid 1,662 1,465 1,242
Interest paid 599 553 552
Market Risk Benefit, Change in Fair Value, Gain (Loss) 140 307 (80)
Net income $ 9,640 $ 9,015 $ 5,246
v3.25.0.1
Statement of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Cash Flows [Abstract]      
Cash Acquired from Acquisition $ 0 $ 560 $ 366
v3.25.0.1
Summary of significant accounting policies
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of significant accounting policies Summary of significant accounting policies
a) Basis of presentation
Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 19 for additional information.

The accompanying Consolidated Financial Statements, which include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, including internal reinsurance transactions, have been eliminated.

On July 1, 2023, Chubb discontinued equity method accounting for its investment in Huatai Group upon obtaining a controlling interest and applied consolidation accounting. Therefore, effective July 1, 2023, business activity for, and the financial position of, Huatai Group is reported at 100 percent on the Consolidated Financial Statements. At December 31, 2024, and December 31, 2023, our aggregate ownership interest in Huatai Group was approximately 85.5 percent and 76.5 percent, respectively. The relevant amounts attributable to shareholders other than Chubb are reflected in the Consolidated Financial Statements under the captions Noncontrolling interests, Net income (loss) attributable to noncontrolling interests, and Comprehensive income (loss) attributable to noncontrolling interests. Refer to Note 2 for additional information on the acquisition of Huatai Group.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Amounts included in the Consolidated Financial Statements reflect our best estimates and assumptions; actual amounts could differ materially from these estimates. Chubb's principal estimates include:
•unpaid loss and loss expense reserves, including long-tail asbestos and environmental (A&E) reserves and non-A&E casualty exposures;
•future policy benefits reserves;
•the valuation of value of business acquired (VOBA);
•the assessment of risk transfer for certain structured insurance and reinsurance contracts;
•reinsurance recoverable, including a valuation allowance for uncollectible reinsurance;
•the valuation of the investment portfolio and assessment of valuation allowance for expected credit losses;
•the valuation of deferred income taxes;
•the valuation and amortization of purchased intangibles; and
•the assessment of goodwill for impairment.

b) Premiums
Premiums are generally recorded as written upon inception of the policy. For multi-year policies for which premiums written are payable in annual installments, only the current annual premium is included as written at policy inception due to the ability of the insured/reinsured to commute or cancel coverage within the policy term. The remaining annual premiums are recorded as written at each successive anniversary date within the multi-year term.
For property and casualty (P&C) insurance and reinsurance products, premiums written are primarily earned on a pro-rata basis over the policy terms to which they relate. Unearned premiums represent the portion of premiums written applicable to the unexpired portion of the policies in force. For retrospectively-rated policies, written premiums are adjusted to reflect expected ultimate premiums consistent with changes to incurred losses, or other measures of exposure as stated in the policy, and earned over the policy coverage period.

Mandatory reinstatement premiums assessed on reinsurance policies are earned in the period of the loss event that gave rise to the reinstatement premiums. All remaining unearned premiums are recognized over the remaining coverage period.

Premiums from long-duration contracts such as certain traditional term life, whole life, endowment, and long-duration personal accident and health (A&H) policies are generally recognized as revenue when due from policyholders. Traditional life policies include those contracts with fixed and guaranteed premiums and benefits. Benefits and expenses are recognized in relation to insurance in force resulting in the recognition of profit over the life of the contracts.

Retroactive loss portfolio transfer (LPT) contracts in which the insured loss events occurred prior to contract inception are evaluated to determine whether they meet criteria for reinsurance accounting. If reinsurance accounting is appropriate, written premiums are fully earned and corresponding losses and loss expenses recognized at contract inception. These contracts can cause significant variances in gross premiums written, net premiums written, net premiums earned, and net incurred losses in the years in which they are written. Reinsurance contracts sold not meeting the criteria for reinsurance accounting are recorded using the deposit method.

Reinsurance premiums assumed are based on information provided by ceding companies supplemented by our own estimates of premium when we have not received ceding company reports. Estimates are reviewed and adjustments are recorded in the period in which they are determined. Premiums are earned over the coverage terms of the related reinsurance contracts and range from one year to three years.

c) Deferred policy acquisition costs (DAC)
Deferred policy acquisition costs consist of commissions (direct and ceded), premium taxes, and certain underwriting costs related directly to the successful acquisition of new or renewal insurance contracts. Amortization is recorded in Policy acquisition costs in the Consolidated statements of operations.

Short-duration contracts
Policy acquisition costs are amortized ratably over the period the related premiums are earned. Policy acquisition costs are reviewed to determine if they are recoverable from future income including investment income. Unrecoverable policy acquisition costs are expensed in the period identified.

Long-duration contracts
Policy acquisition costs are grouped by contract type and issue year into cohorts consistent with the groupings used in estimating the associated liability and are expensed on a constant level basis over the expected term of the related contracts to approximate straight-line amortization at the contract level. The constant level basis used for amortization is the insurance in-force and is projected using the same assumptions used in estimating the liability for future policy benefits. If those projected assumptions change in future periods, they will be reflected in the cohort level amortization basis at that time. Unexpected changes in the in-force portfolio, due to variances in mortality and lapse experience, are recognized over the contract term. Changes in future mortality and lapse assumptions are also recognized prospectively over the remaining expected contract term.

Advertising costs are expensed as incurred except for direct-response campaigns that qualify for cost deferral. Qualified expenses include individual direct-response marketing campaigns where we can demonstrate the campaigns have specifically resulted in incremental sales to customers and such sales have probable future economic benefits. Any costs directly related to the marketing campaigns are deferred, included with other policy acquisition costs, and expensed as a component of Policy acquisition costs using the same amortization basis.

d) Value of business acquired (VOBA)
As part of business combination accounting, a VOBA intangible asset is established upon the acquisition of blocks of long-duration contracts. This intangible represents the present value of estimated net cash flows for the in-force contracts as of the acquisition date. VOBA is amortized as a component of Policy acquisition costs in the Consolidated statements of operations in relation to the profit emergence of the underlying acquired contracts. The valuation of VOBA is based on many factors including
mortality, morbidity, persistency, investment yields, expenses, and discount rate. The VOBA intangible is tested for recoverability at least annually using a premium deficiency test. Unrecoverable VOBA is expensed in the period identified.

e) Reinsurance
Chubb assumes and cedes reinsurance with other insurance companies to provide greater diversification of business and minimize the net loss potential arising from large risks. Ceded reinsurance contracts do not relieve Chubb of its primary obligation to policyholders.

For both ceded and assumed reinsurance, risk transfer requirements must be met in order to account for a contract as reinsurance, principally resulting in the recognition of cash flows under the contract as premiums and losses. To meet risk transfer requirements, a reinsurance contract must include insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity. To assess risk transfer for certain contracts, Chubb generally develops expected discounted cash flow analyses at contract inception. Deposit accounting is used for contracts that do not meet risk transfer requirements.

Reinsurance recoverable includes balances due from reinsurance companies for paid and unpaid losses and loss expenses and future policy benefits that will be recovered from reinsurers, based on contracts in force. The method for determining the reinsurance recoverable on unpaid losses and loss expenses incurred but not reported (IBNR) involves actuarial estimates consistent with those used to establish the associated liability for unpaid losses and loss expenses as well as a determination of Chubb's ability to cede unpaid losses and loss expenses under the terms of the reinsurance agreement.

Reinsurance recoverable is presented net of a valuation allowance for uncollectible reinsurance determined based upon a review of the financial condition of reinsurers and other factors. The valuation allowance for uncollectible reinsurance is based on an estimate of the reinsurance recoverable balance that will ultimately be unrecoverable due to reinsurer insolvency, a contractual dispute, or any other reason. The valuation of this allowance includes several judgments including certain aspects of the allocation of reinsurance recoverable on IBNR claims by reinsurer and a default analysis to estimate uncollectible reinsurance. The primary components of the default analysis are reinsurance recoverable balances by reinsurer, net of collateral, and default factors used to determine the portion of a reinsurer's balance deemed uncollectible. The definition of collateral for this purpose requires some judgment and is generally limited to assets held in a Chubb-only beneficiary trust, letters of credit, and liabilities held with the same legal entity for which Chubb believes there is a contractual right of offset. The determination of the default factor is principally based on the financial strength rating of the reinsurer. Default factors require considerable judgment and are determined using the current financial strength rating, or rating equivalent, of each reinsurer as well as other key considerations and assumptions. Changes in the valuation allowance for uncollectible reinsurance recoverables are recorded in Losses and loss expenses in the Consolidated statements of operations. The more significant considerations to calculate the valuation allowance include, but are not necessarily limited to, the following:
•For reinsurers that maintain a financial strength rating from a major rating agency, and for which recoverable balances are considered representative of the larger population (i.e., default probabilities are consistent with similarly rated reinsurers and payment durations conform to averages), the financial rating is based on a published source and the default factor is based on published default statistics of a major rating agency applicable to the reinsurer's particular rating class. When a recoverable is expected to be paid in a brief period of time by a highly rated reinsurer, such as certain property catastrophe claims, a default factor may not be applied;
•For balances recoverable from reinsurers that are both unrated by a major rating agency and for which management is unable to determine a credible rating equivalent based on a parent, affiliate, or peer company, we determine a rating equivalent based on an analysis of the reinsurer that considers an assessment of the creditworthiness of the particular entity, industry benchmarks, or other factors as considered appropriate. We then apply the applicable default factor for that rating class. For balances recoverable from unrated reinsurers for which the ceded reserve is below a certain threshold, we generally apply a default factor of 11.2 percent, consistent with published statistics of a major rating agency;
•For balances recoverable from reinsurers that are either insolvent or under regulatory supervision, we establish a default factor and resulting valuation allowance for uncollectible reinsurance based on reinsurer-specific facts and circumstances. Upon initial notification of an insolvency, we generally recognize an expense for a substantial portion of all balances outstanding, net of collateral, through a combination of write-offs of recoverable balances and increases to the valuation allowance for uncollectible reinsurance. When regulatory action is taken on a reinsurer, we generally recognize a default factor by estimating an expected recovery on all balances outstanding, net of collateral. When sufficient credible information becomes available, we adjust the valuation allowance for uncollectible reinsurance by establishing a default factor pursuant to information received; and
•For other recoverables, management determines the valuation allowance for uncollectible reinsurance based on the specific facts and circumstances.

The methods used to determine the reinsurance recoverable balance and related valuation allowance for uncollectible reinsurance are regularly reviewed and updated, and any resulting adjustments are reflected in earnings in the period identified.

The methods used to determine the valuation allowance for uncollectible high deductible recoverable amounts and valuation allowance for insurance and reinsurance balances receivable are similar to the processes used to determine the valuation allowance for uncollectible reinsurance recoverable. For information on high deductible policies, refer to section k) Unpaid losses and loss expenses, below.

Prepaid reinsurance premiums represent the portion of premiums ceded to reinsurers applicable to the unexpired coverage terms of the reinsurance contracts in-force.

f) Investments
Fixed maturities, equity securities, and short-term investments
Fixed maturities are primarily classified as available-for-sale (AFS) and are reported at fair value, net of a valuation allowance for credit losses, with changes in fair value recorded as a separate component of AOCI in Shareholders' equity.

Equity securities are reported at fair value with changes in fair value recorded in Net realized gains (losses) on the Consolidated statements of operations.

Short-term investments comprise securities due to mature within one year of the date of purchase and are recorded at fair value which typically approximates cost.

Interest, dividend income, and amortization of fixed maturity market premiums and discounts, related to these securities are recorded in Net investment income, net of investment management and custody fees, in the Consolidated statements of operations. Realized gains or losses on sales of investments are determined on a first-in, first-out basis.

For mortgage-backed securities and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised, as necessary. Any adjustments required due to the resultant change in effective yields and maturities are recognized prospectively. Prepayment fees or call premiums that are only payable when a security is called prior to its maturity are earned when received and reflected in Net investment income.

Valuation allowance for fixed income securities
Management evaluates expected credit losses (ECL) for AFS securities when fair value is below amortized cost. AFS securities are evaluated for potential credit loss on an individual security level, but the evaluation may use assumptions consistent with expectations of credit losses for a group of similar securities. If management has the intent to sell or will be required to sell the security before recovery, the entire impairment loss will be recorded through income to Net realized gains and losses. If management does not have the intent to sell or will not be required to sell the security before recovery, an allowance for credit losses is established and is recorded through income to Net realized gains and losses, and the non-credit loss portion is recorded through other comprehensive income.

Examples of criteria that are collectively evaluated to determine if a credit loss has occurred include the following:
•The extent to which the fair value is less than amortized cost;
•Adverse conditions related to the security, industry, or geographic area;
•Downgrades in the security's credit rating by a rating agency; and
•Failure of the issuer to make scheduled principal or interest payments.

AFS securities that meet any one of the criteria included above will be subject to a discounted cash flow analysis by comparing the present value of expected future cash flows with the amortized cost basis. Projected cash flows are driven primarily by assumptions regarding probability of default and the timing and amount of recoveries associated with defaults. Chubb developed the projected cash flows using market data, issuer-specific information, and credit ratings. In combination with contractual cash flows and the use of historical default and recovery data by Moody's Investors Service (Moody's) rating category, we generate expected cash flows using the average cumulative issuer-weighted global default rates by letter rating.
If the present value of expected future cash flows is less than the amortized cost, a credit loss exists and an allowance for credit losses will be recognized. If the present value of expected future cash flows is equal to or greater than the amortized cost basis, management will conclude an expected credit loss does not exist.

Management reviews credit losses and the valuation allowance for expected credit losses each quarter. When all or a portion of a fixed maturity security is identified to be uncollectible and written off, the valuation allowance for expected credit losses is reduced. In general, a security is considered uncollectible no later than when all efforts to collect contractual cash flows have been exhausted. Below are considerations for when a security may be deemed uncollectible:
•We have sufficient information to determine that the issuer of the security is insolvent;
•We receive notice that the issuer of the security has filed for bankruptcy, and the collectability is expected to be adversely impacted by the bankruptcy;
•The issuer of a security has violated multiple debt covenants;
•Amounts have been past due for a specified period of time with no response from the issuer;
•A significant deterioration in the value of the collateral has occurred; and
•We have received correspondence from the issuer of the security indicating that it does not intend to pay the contractual principal and interest.
Prior to the transfer of our entire held-to-maturity (HTM) portfolio to the AFS portfolio in 2023, HTM securities were evaluated for potential credit loss on a collective pool basis quarterly. Chubb pooled HTM securities and calculated the current expected credit loss for each pool using Moody's corporate bond default average, corporate bond recovery rate, and an economic cycle multiplier based on the leading economic index adjusted for a forward-looking economic outlook.
We elected to not measure an allowance for accrued investment income as uncollectible balances are written off in a timely manner, typically 30 to 45 days after uncollected balances are due.
Private debt held-for-investment
Private debt held-for-investment relates principally to investments in the funding of public and private projects that are mostly infrastructure related and were acquired as part of Huatai’s investment portfolio upon consolidation. They have stated interest rates and maturity dates with fixed or determinable payments. Private debt held-for-investment are carried at amortized cost, net of a valuation allowance for credit losses. Management evaluates current expected credit losses (CECL) for all Private debt held-for-investment each quarter on a collective pool basis using S&P's corporate bond default average, corporate bond recovery rate, and an economic cycle multiplier. Interest income is recorded when earned within Net investment income on the Consolidated statements of operations.

Private equities
Private equities principally consist of Investment funds, limited partnerships, and partially owned investment companies.

Investment funds and limited partnerships
Investment funds, limited partnerships, and all other investments over which Chubb cannot exercise significant influence, generally, when we own less than three percent of the investee's shares, are accounted for as follows:
•Income and expenses from these funds are reported within Net investment income.
•These funds are carried at net asset value, which approximates fair value with changes in fair value recorded in Net realized gains (losses) on the Consolidated statements of operations. Refer to Note 4 for a further discussion on net asset value.
•As a result of the timing of the receipt of valuation data from the investment managers, these investments are generally reported on a three-month lag.
•Sales of these investments are reported within Net realized gains (losses).
Partially-owned investment companies
Partially-owned investment companies are limited partnerships where our ownership interest is in excess of three percent and are accounted for under the equity method because Chubb exerts significant influence. These investments apply investment company accounting to determine operating results, and Chubb retains the investment company accounting in applying the equity method.
•This means that investment income, realized gains or losses, and unrealized gains or losses are included in the portion of equity earnings reflected in Other (income) expense.
•As a result of the timing of the receipt of valuation data from the investment managers, these investments are generally reported on a three-month lag.
Other investments
•Huatai’s asset management businesses create investment entities known as consolidated investment products which include mutual funds with primary holdings in fixed maturities. These securities are reported at fair value with changes in fair value reported through the Consolidated statements of operations within Net realized gains (losses) as required under investment company accounting standards.
•Fixed maturities supporting certain participating policy liabilities principally relate to the Huatai investment portfolio. These investments are reported at fair value with changes in fair value recorded through Net realized gains (losses) on the Consolidated statements of operations. We have elected to account for these investments using the fair value option so that changes in fair value of the fixed maturities are recorded in Net realized gains (losses), as opposed to a component within AOCI, to offset corresponding changes in policyholder liabilities within Policy benefits.
•Policy loans are carried at outstanding balance and interest income is reflected in Net investment income.
•Life insurance policies are carried at policy cash surrender value and income is reflected in Other (income) expense.
•Non-qualified separate account assets are supported by assets that do not qualify for separate account reporting under U.S. GAAP and are carried at fair value. Unrealized gains and losses on non-qualified separate account assets are reflected in Other (income) expense.

Investments in partially-owned insurance companies
Investments in partially-owned insurance companies primarily represent direct investments in which Chubb has significant influence and as such, meet the requirements for equity method accounting. Generally, we own twenty percent or more of the investee’s shares. We report our share of the net income or loss of the partially-owned insurance companies in Other (income) expense.

Securities lending program
Chubb participates in a securities lending program operated by a third-party banking institution whereby certain assets are loaned to qualified borrowers and from which we earn an incremental return which is recorded within Net investment income in the Consolidated statements of operations.

Borrowers provide collateral, in the form of either cash or approved securities, at a minimum of 102 percent of the fair value of the loaned securities. Each security loan is deemed to be an overnight transaction. Cash collateral is invested in a collateral pool which is managed by the banking institution. The collateral pool is subject to written investment guidelines with key objectives which include the safeguard of principal and adequate liquidity to meet anticipated redemptions. The fair value of the loaned securities is monitored on a daily basis, with additional collateral obtained or refunded as the fair value of the loaned securities changes. The fair value of the securities on loan is included in Fixed maturities available-for-sale and Equity securities in the Consolidated balance sheets. The collateral is held by the third-party banking institution, and the collateral can only be accessed in the event that the institution borrowing the securities is in default under the lending agreement. As a result of these restrictions, we consider our securities lending activities to be non-cash investing and financing activities. An indemnification agreement with the lending agent protects us in the event a borrower becomes insolvent or fails to return any of the securities on loan. The securities lending collateral is reported as a separate line in the Consolidated balance sheets with a related liability reflecting our obligation to return the collateral plus interest.
Repurchase agreements
Similar to securities lending arrangements, securities sold under repurchase agreements, whereby Chubb sells securities and repurchases them at a future date for a predetermined price, are accounted for as collateralized investments and borrowings and are recorded at the contractual repurchase amounts plus accrued interest. Assets to be repurchased are the same or substantially the same as the assets transferred, and the transferor, through right of substitution, maintains the right and ability to redeem the collateral on short notice. The fair value of the underlying securities is included in fixed maturities. In contrast to securities lending programs, the use of cash received is not restricted. We report the obligation to return the cash as Repurchase agreements in the Consolidated balance sheets and record the fees under these repurchase agreements within Interest expense on the Consolidated statements of operations.

Refer to Note 4 for a discussion on the determination of fair value for Chubb's various investment securities.

g) Consolidation of Variable interest entities (VIEs)
Chubb consolidates entities in which it has a controlling interest or is a primary beneficiary of a VIE. Huatai's asset management businesses create investment entities known as consolidated investment products which include mutual funds with primary holdings in fixed maturities. While many investors may not be related parties, Huatai invests in these funds at various ownership percentages. We consolidate the VIEs if we are the primary beneficiary, which is generally when we hold an economic interest of 10 percent or more. The consolidation of VIEs requires us to record 100 percent of both the underlying assets and liabilities of the mutual funds within the Consolidated balance sheets as well as the profit and losses within the Consolidated statements of operations. The relevant amounts attributable to investors other than Chubb are reflected as Noncontrolling interests. Purchases and sales of investments by the consolidated VIEs are reported as operating activities on the Consolidated Statements of Cash Flows. Where Huatai's ownership in these consolidated investment products is less than 10 percent, we generally would not expect to be the primary beneficiary of these VIEs and would not consolidate. Our economic risk with respect to each investment in a consolidated investment product is limited to our equity ownership and any uncollected management and performance fees. Refer to Note 3 h) for additional information.

h) Derivative instruments
Derivative instruments are carried at fair value in the Consolidated balance sheets in either Accounts payable, accrued expenses, and other liabilities or Other assets. We participate in these derivative instruments primarily to mitigate financial risks and manage certain investment portfolio risks and exposures, including assets and liabilities denominated in foreign currencies. We use derivative instruments including futures, options, swaps, and foreign currency forward contracts. Refer to Note 14 for additional information.

Changes in fair value of derivatives not designated as hedging instruments are included in Net realized gains (losses) and changes in fair value of futures contracts on equities related to our variable annuity reinsurance business are included in Market risk benefits gains (losses) in the Consolidated statements of operations.

We also invest in certain derivative instruments that are designated as hedging instruments and qualify for hedge accounting. These derivatives designated as hedging instruments must be highly effective in mitigating the designated changes in fair value or cash flows of the hedged item. We assess at the hedge's inception, and continue to qualitatively assess on a quarterly basis, whether the derivatives that are used in hedging transactions have been and are expected to be highly effective in offsetting changes in the hedged items. Derivatives designated as hedging instruments include cross-currency swaps designated as fair value hedges for foreign currency exposure associated with portions of our euro denominated debt and net investment hedges for foreign currency exposure in the net investments of certain foreign subsidiaries. Refer to Note 14 for additional information.

Changes in fair value of net investment hedges are recorded in Cumulative translation adjustments (CTA) within OCI. Changes in fair value of fair value hedges that principally offset the foreign currency remeasurement on the hedged debt is recorded within Net realized gains (losses) on the Consolidated statement of operations with the remaining change in fair value recorded in Other, within OCI.

i) Cash
We have agreements with a third-party bank provider which implemented two international multi-currency notional cash pooling programs. In each program, participating Chubb entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency (U.S. dollars) and then notionally pooled. The bank extends overdraft credit to any participating Chubb entity as needed, provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero. Any overdraft balances incurred under this program by a Chubb entity would be guaranteed by Chubb Limited (up to $300 million in the aggregate).
Our syndicated letter of credit facility allows for same day drawings to fund a net pool overdraft should participating Chubb entities overdraw contributed funds from the pool.

Restricted cash
Included in Cash is restricted cash of $261 million and $172 million at December 31, 2024 and 2023, respectively. Restricted cash 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.

j) Goodwill and Other intangible assets
Goodwill represents the excess of the cost of acquisitions over the fair value of net assets acquired and is not amortized. Goodwill is assigned at acquisition to the applicable reporting unit of the acquired entities giving rise to the goodwill. Goodwill impairment tests are performed annually or more frequently if circumstances indicate a possible impairment. For goodwill impairment testing, we use a qualitative assessment to determine whether it is more likely than not (i.e., more than a 50 percent probability) that the fair value of a reporting unit is greater than its carrying amount. If our assessment indicates it is more likely than not that carrying value exceeds fair value, we quantitatively estimate a reporting unit's fair value.

Indefinite lived intangible assets are not subject to amortization. Finite lived intangible assets are amortized over their useful lives, generally with an average original useful life of 25 years. Intangible assets are regularly reviewed for indicators of impairment. Impairment is recognized if the carrying amount is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and fair value.

k) Unpaid losses and loss expenses
A liability is established for the estimated unpaid losses and loss expenses under the terms of Chubb's policies and agreements. Similar to premiums that are recognized as revenues over the coverage period of the policy, a liability for unpaid losses and loss expenses is recognized as expense when insured events occur over the coverage period of the policy. This liability includes a provision for both reported claims (case reserves) and incurred but not reported claims (IBNR reserves). IBNR reserve estimates are generally calculated by first projecting the ultimate cost of all losses that have occurred (expected losses), and then subtracting paid losses, case reserves, and loss expenses. The methods of determining such estimates and establishing the resulting liability are reviewed regularly and any adjustments are reflected in income in the period in which they become known. Future developments may result in losses and loss expenses materially greater or less than recorded amounts.

Except for net unpaid loss and loss expense reserves for certain structured settlements for which the timing and amount of future claim payments are reliably determinable and certain reserves for unsettled claims, Chubb does not discount its P&C loss reserves. The net undiscounted reserves related to structured settlements and certain reserves for unsettled claims are immaterial.

Included in Unpaid losses and loss expenses are liabilities for A&E claims and expenses. These unpaid losses and loss expenses are principally related to claims arising from remediation costs associated with hazardous waste sites and bodily-injury claims related to asbestos products and environmental hazards. The estimation of these liabilities is particularly sensitive to changes in the legal environment including specific settlements that may be used as precedents to settle future claims. However, Chubb does not anticipate future changes in laws and regulations in setting its A&E reserve levels.

Also included in Unpaid losses and loss expenses is the fair value adjustment of $60 million and $62 million at December 31, 2024 and 2023, respectively, principally related to Chubb Corp’s historical unpaid losses and loss expenses. The estimated fair value consists of the present value of the expected net unpaid loss and loss adjustment expense payments adjusted for an estimated risk margin. The estimated cash flows are discounted at a risk-free rate. The estimated risk margin varies based on the inherent risks associated with each type of reserve. The fair value is amortized through Amortization of purchased intangibles on the Consolidated statements of operations based on the estimated payout patterns of unpaid loss and loss expenses at the acquisition date.

Our loss reserves are presented net of contractual deductible recoverable amounts due from policyholders. Under the terms of certain high deductible policies which we offer, such as workers’ compensation and general liability, our customers are responsible to reimburse us for an agreed-upon dollar amount per claim. In nearly all cases we are required under such policies to pay covered claims first, and then seek reimbursement for amounts within the applicable deductible from our customers. We generally seek to mitigate this risk through collateral agreements.
Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premiums from previous accident years.

For purposes of analysis and disclosure, management views prior period development to be changes in the nominal value of loss estimates from period to period, net of premium and profit commission adjustments on loss sensitive contracts. Prior period development generally excludes changes in loss estimates that do not arise from the emergence of claims, such as those related to uncollectible reinsurance, interest, unallocated loss adjustment expenses, or foreign currency. Accordingly, specific items excluded from prior period development include the following: gains/losses related to foreign currency remeasurement; losses recognized from the early termination or commutation of reinsurance agreements that principally relate to the time value of money; changes in the value of reinsurance business assumed reflected in losses incurred but principally related to the time value of money; and losses that arise from changes in estimates of earned premiums from prior accident years. Except for foreign currency remeasurement, which is included in Net realized gains (losses), these items are included in current year losses within Losses and loss expenses on the Consolidated statements of operations.

l) Future policy benefits
For traditional and limited-payment contracts, contracts are grouped into cohorts by coverage type and issue year to determine a liability for future policy benefits. The future policy benefit liability (FPBL) is the present value of estimated future policy benefits to be paid to or on behalf of policyholders and certain related expenses less the present value of estimated future net premiums to be collected from policyholders and is accrued as premium revenue is recognized. The valuation of this liability requires management to make estimates and assumptions regarding expenses, mortality, and persistency. Estimates are primarily based on historical experience. Actual results could differ materially from these estimates.

The liability is adjusted for differences between actual and expected experience. With the exception of the expense assumption, we review our future cash flow assumptions at least annually to determine if the net premium ratio (NPR), the mechanism to record the liability as premium is earned, should be changed at that time. We have elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Each quarter, we update the cash flows expected over the entire life of each cohort for actual historical experience and projected future cash flows. These updated cash flows are used to calculate the revised NPR, which is used to derive an updated FPBL as of the beginning of the current reporting period, discounted at the original contract issuance discount rate. This amount is then compared to the carrying amount of the liability as of that same date, but before the updating of cash flow assumptions, to determine the current period change in FPBL. This current period change in the liability is the remeasurement gain or loss and is recorded in Policy benefits in the Consolidated statements of operations. In subsequent periods, the revised NPR is used to record the FPBL until future revisions become required.

For traditional and limited-payment contracts, the discount rate assumption is based on an upper-medium grade fixed-income instrument yield. An equivalent rate is derived based on A-credit-rated fixed-income instruments with similar duration to the liability. The discount rate assumption is updated quarterly and used to remeasure the liability at each reporting date, with the resulting change reflected in Other comprehensive income. For liability cash flows that are projected beyond the duration of market-observable A-credit-rated fixed-income instruments, we use the last market-observable yield level, as the basis for a linear interpolation to determine yield assumptions for durations that do not have market-observable yields.

Deferred profit liability
For limited-payment products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (DPL) and recorded as a component of Future policy benefits in the Consolidated balance sheets. Net premiums are measured using actual cash flows and future cash flow assumptions consistent with those used in the measurement of the liability for future policy benefits and remeasured quarterly. The DPL is amortized in proportion to the discounted in-force policies. Interest is accreted on the balance of the DPL using the discount rate consistent with the interest accretion on the FPBL. The recalculated DPL, including adjusted amortization through the current period, is compared to the current carrying amount and the difference is recognized as an adjustment to Policy benefits in the Consolidated statements of operations as a remeasurement gain or loss.

m) Market Risk Benefits
Chubb reinsures various death and living benefit guarantees associated with variable annuities issued primarily in the United States, which meet the definition of Market risk benefits (MRB). These reinsurance contracts provide protection to the ceding entity from, and expose us to, other-than-nominal capital market risk. Market risk benefits are measured at fair value using a valuation model based on current net exposures, market data, our experience, and other factors. Changes in fair value are
recognized in Market risk benefits gains (losses) in the Consolidated statements of operations, except the change in fair value due to a change in the instrument-specific credit risk, which is recognized in other comprehensive income.

We generally receive a monthly premium during the accumulation phase of the covered annuities (in-force) based on a percentage of either the underlying accumulated account values or the underlying accumulated guaranteed values. Depending on an annuitant's age, the accumulation phase can last many years. To limit our exposure under these programs, all reinsurance treaties include annual or aggregate claim limits and many include an aggregate deductible.

The guarantees which are payable on death, referred to as guaranteed minimum death benefits (GMDB), principally cover shortfalls between accumulated account value at the time of an annuitant's death and either i) an annuitant's total deposits; ii) an annuitant's total deposits plus a minimum annual return; or iii) the highest accumulated account value attained at any policy anniversary date. In addition, a death benefit may be based on a formula specified in the variable annuity contract that uses a percentage of the growth of the underlying contract value.

Under reinsurance programs covering guaranteed living benefits (GLB), we assume the risk of guaranteed minimum income benefits (GMIB) associated with variable annuity contracts. The GMIB risk is triggered if, at the time the contract holder elects to convert the accumulated account value to a periodic payment stream (annuitize), the accumulated account value is not sufficient to provide a guaranteed minimum level of monthly income.

n) Separate accounts
Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. Separate account liabilities primarily represent the policyholders’ account balances in separate account assets and are equal and offsetting to total separate account assets. The assets of each account are legally segregated and are not subject to claims that arise out of any Chubb’s business. Mortality, policy administration and surrender charges assessed against the accounts are included in Net premiums earned on the Consolidated statements of operations. The related investment performance of the separate account assets (including interest, dividends, realized gains and losses, and changes in unrealized gains and losses) generally accrue to the policyholders and are not included in our Consolidated statements of operations. Fees charged against the separate accounts are deferred and recorded as unearned revenue liabilities within Policyholders’ account balances on the Consolidated balance sheets until they are earned within Net premiums earned on the Consolidated statements of operations. Refer to section o) Policyholders’ account balances, below.

o) Policyholders' account balances
Policyholders' account balances represent a liability for investment contracts sold that do not meet the definition of an insurance contract, and certain of these contracts are sold with a guaranteed rate of return. Consideration received or paid is recorded as a deposit asset or liability in the balance sheet as opposed to recording premiums and losses in the statements of operations. The liability for policyholders' account balances equals accumulated policy account values, which consist of consideration received from the policyholder, plus any credited income, less any relevant charges. Also included within Policyholders' account balances is an unearned revenue liability which represents policy charges for services to be provided in future periods. The charges are deferred as incurred and are generally amortized over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs.

Certain of our long-duration contracts are supported by assets that do not qualify for separate account reporting under U.S. GAAP. These assets are classified as non-qualified separate account assets and reported in Other investments and the offsetting liabilities are reported in Policyholders’ account balances in the Consolidated balance sheets. Changes in the fair value of separate account assets that do not qualify for separate account reporting under U.S. GAAP are reported in Other (income) expense, and the offsetting movements in the liabilities are included in Policy benefits in the Consolidated statements of operations.

p) Property and equipment
Property and equipment used in operations are capitalized and carried at cost less accumulated depreciation and are reported within Other assets in the Consolidated balance sheets. At December 31, 2024, property and equipment totaled $3.1 billion, consisting principally of capitalized software costs of $1.9 billion incurred to develop or obtain computer software for internal use and company-owned facilities of $431 million. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. For capitalized software, the estimated useful life is generally three years to five years (for security and analytics systems), but can be as long as 15 years (for systems of record such as our general ledger and processing systems such as our policy administration systems). For company-owned facilities the estimated useful life is 40 years. At December 31, 2023, property and equipment totaled $2.9 billion.
q) Foreign currency remeasurement and translation
The functional currency for each of our foreign operations is generally the currency of the local operating environment. Transactions in currencies other than a foreign operation's functional currency are remeasured into the functional currency, and the resulting foreign exchange gains and losses are reflected in Net realized gains (losses) in the Consolidated statements of operations. Functional currency assets and liabilities are translated into the reporting currency, U.S. dollars, using period end exchange rates and the related translation adjustments are recorded as a separate component of AOCI in Shareholders' equity. Functional statement of operations amounts expressed in functional currencies are translated using average exchange rates.

r) Administrative expenses
Administrative expenses generally include all operating costs other than policy acquisition costs. The North America Commercial P&C Insurance segment manages and uses an in-house third-party claims administrator, ESIS Inc. (ESIS). ESIS performs claims management and risk control services for domestic and international organizations that self-insure P&C exposures as well as internal P&C exposures. The net operating income (loss) of ESIS is included within Administrative expenses in the Consolidated statements of operations and was $7 million, $(2) million, and $12 million for the years ended December 31, 2024, 2023, and 2022, respectively.

s) Asset management and performance fee revenue and expenses
Huatai's asset management companies recognize revenue and expenses from the management of third-party assets which are unrelated to Chubb's core insurance operations. These revenues include management fees, which are recognized in the period in which the services are performed, and asset performance fees, which are recognized to the extent it is probable that a significant reversal will not occur. These fees and expenses are included in Other (income) expense on the Consolidated statements of operations. Refer to Note 18 for additional information.

t) Income taxes
Income taxes have been recorded related to those operations subject to income tax. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the Consolidated Financial Statements and the tax basis of our assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax law or rates is recognized in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to these deferred tax assets will not be realized. The valuation allowance assessment considers tax planning strategies, where appropriate.

We recognize uncertain tax positions that are determined to be more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that has a greater than 50 percent likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

Chubb's policy for releasing income tax effects from AOCI is to release them as investments are sold or mature and as pension and postretirement benefit liabilities are extinguished. Refer to Note 12 for additional information.

u) Earnings per share
Basic earnings per share is calculated using the weighted-average shares outstanding, including participating securities with non-forfeitable rights to dividends such as unvested restricted stock. All potentially dilutive securities, including stock options are excluded from the basic earnings per share calculation. In calculating diluted earnings per share, the weighted-average shares outstanding is increased to include all potentially dilutive securities. Basic and diluted earnings per share are calculated by dividing Net income attributable to Chubb by the applicable weighted-average number of shares outstanding during the year.

v) Share-based compensation
Chubb measures and records compensation cost for all share-based payment awards at grant-date fair value. Compensation costs are recognized for vesting of share-based payment awards with only service conditions on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award were, in substance, multiple awards. For retirement-eligible participants, compensation costs for certain share-based payment awards are recognized immediately at the date of grant. Refer to Note 16 for additional information.

w) Integration expenses
Direct costs related to business combinations, principally Cigna's business in Asia, were expensed as incurred. Integration expenses were $39 million, $69 million, and $48 million for the years ended December 31, 2024, 2023, and 2022, respectively, and include all internal and external costs directly related to the integration activities. These expenses principally
consisted of third-party consulting fees, employee-related retention costs, and other professional and legal fees related to the acquisition.

x) New accounting pronouncements

Accounting guidance adopted in 2024
Improvements to Reportable Segment Disclosures
In November 2023, the Financial Accounting Standards Board (FASB) issued guidance that requires expanded reportable segment disclosures, primarily related to significant segment expenses which are regularly provided to the chief operating decision maker. We retrospectively adopted this disclosure-only guidance for our annual 2024 reporting, and modified the presentation of our segment financial information disclosure. Refer to Note 19 for additional information.

Accounting guidance not yet adopted
Improvements to Income Tax Disclosures
In December 2023, the FASB issued guidance that requires expanded income tax disclosures, including the disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid. The guidance is effective for our 2025 annual reporting. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.

Disaggregation of Income Statement Expenses
In November 2024, the FASB issued guidance that requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our 2027 annual reporting, and interim reporting periods beginning in 2028. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.
Accounting Standards Update
Accounting guidance adopted in 2024
Improvements to Reportable Segment Disclosures
In November 2023, the Financial Accounting Standards Board (FASB) issued guidance that requires expanded reportable segment disclosures, primarily related to significant segment expenses which are regularly provided to the chief operating decision maker. We retrospectively adopted this disclosure-only guidance for our annual 2024 reporting, and modified the presentation of our segment financial information disclosure. Refer to Note 19 for additional information.

Accounting guidance not yet adopted
Improvements to Income Tax Disclosures
In December 2023, the FASB issued guidance that requires expanded income tax disclosures, including the disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid. The guidance is effective for our 2025 annual reporting. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.

Disaggregation of Income Statement Expenses
In November 2024, the FASB issued guidance that requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our 2027 annual reporting, and interim reporting periods beginning in 2028. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.
v3.25.0.1
Acquisitions
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Acquisitions Acquisitions
Healthy Paws
On May 31, 2024, we acquired the business of Healthy Paws Pet Insurance LLC, a managing general agent specializing in pet insurance, from Aon plc for approximately $300 million in cash. We recognized goodwill of $256 million and intangible assets of $44 million from this acquisition. Chubb has been the exclusive underwriter of Healthy Paws since 2013. The transaction positions Chubb to expand in a niche market with substantial growth potential. This business is assigned to the North America Commercial Insurance segment.

Huatai Group
Huatai Insurance Group Co., Ltd. (Huatai Group) is a Chinese financial services holding company and the parent company of, among others, Huatai Property & Casualty Insurance Co., Ltd. (Huatai P&C), Huatai Life Insurance Co., Ltd. (Huatai Life), Huatai Asset Management Co., Ltd., and Huatai Baoxing Fund Management Co., Ltd., of which Huatai Group owns 100 percent, 80 percent, 91 percent, and 85 percent, respectively (collectively, Huatai).

On July 1, 2023, Chubb further advanced our goal of greater product, customer, and geographical diversification by obtaining a controlling interest in our investment in Huatai Group, as we increased ownership interest from approximately 64.2 percent to approximately 69.6 percent. At that time, Chubb discontinued the equity method of accounting and applied consolidation accounting. Accordingly, Chubb remeasured the 64.2 percent equity method investment to its fair value of $4.1 billion as of July 1, 2023, resulting in a one-time realized gain of $763 million after-tax, reflecting the remeasurement of the previously held equity interest's historical carrying value to fair value. There was also a net realized and unrealized loss of $17 million after-tax reflecting the write-off of AOCI loss balances accumulated while under equity method accounting of $611 million with an offset to realized loss of $628 million.

In the first quarter of 2024, we closed on incremental ownership interests of approximately 9.0 percent for $555 million, $319 million of which was paid prior to 2024, and $236 million of which was paid in 2024. Our aggregate ownership interest in Huatai Group was approximately 85.5 percent as of December 31, 2024. In the fourth quarter of 2024, we entered into an agreement to purchase approximately 1.0 percent of incremental ownership interests. Chubb has total outstanding agreements for approximately 1.6 percent of incremental ownership interests, pending completion of certain closing conditions.
The acquisition of a controlling majority interest in Huatai Group on July 1, 2023, generated $3,458 million of Goodwill, attributable to expected growth and profitability, and $1,655 million of Other intangible assets. None of the goodwill is expected to be deductible for income tax purposes. Additionally, the acquisition generated $309 million of Value of business acquired (VOBA). Chubb financed the transaction through available cash on hand. Direct costs related to the acquisition are immaterial, and were expensed as incurred. These include one-time costs that are directly attributable to third-party consulting fees and other professional and legal fees related to the acquisition.

The following table summarizes the fair value of the assets acquired and liabilities assumed on July 1, 2023.

Huatai Group assets and liabilities consolidatedJuly 1
(in millions of U.S. dollars)2023
Assets
Investments and Cash$13,346 
Accrued investment income60 
Insurance and reinsurance balances receivable277 
Reinsurance recoverable on losses and loss expenses581 
Reinsurance recoverable on future policy benefits27 
Value of business acquired309 
Goodwill and intangible assets5,113 
Other assets748 
Total assets$20,461 
Liabilities
Unpaid losses and loss expenses$831 
Unearned premiums800 
Future policy benefits2,351 
Policyholders' account balances4,014 
Insurance and reinsurance balances payable644 
Accounts payable, accrued expenses, and other liabilities682 
Deferred tax liabilities232 
Repurchase agreements1,269 
Total liabilities$10,823 
Net acquired assets, including goodwill, attributable to Chubb4,428 
Net acquired assets, attributable to noncontrolling interests5,210 
Net acquired assets, including goodwill$9,638 

Huatai Group's life insurance and asset management businesses are included in the Life Insurance segment, and Huatai Group's P&C business is included in the Overseas General Insurance segment. Results for Huatai Group's non-insurance operations, comprising real estate and holding company activity, are included in Corporate. The following table summarizes the results of the acquired Huatai Group operations since the acquisition date that have been included within our Consolidated statements of operations:

July 1, 2023 to
(in millions of U.S. dollars)
December 31, 2023
Total revenues$739 
Net loss$(30)
Net loss attributable to Chubb
$(17)
The purchase price allocation to intangible assets recorded in connection with the Huatai Group acquisition and their related useful lives at July 1, 2023, are as follows:

(in millions of U.S. dollars)AmountWeighted-average useful life
Definite life
  Agency distribution relationships$332 
20 years
Asset management customer contracts94 
16 years
  Unearned premium reserves (UPR) intangible asset95 
3 years
  Land use rights569 
31 years
Technology45 
6 years
Indefinite life
  Trademarks398 Indefinite
  Asset management mutual funds122 Indefinite
Total identified intangible assets$1,655 

The following table presents supplemental unaudited pro forma consolidated information for the periods indicated as though the acquisition of a controlling majority interest in Huatai Group that occurred on July 1, 2023, had instead occurred on January 1, 2022. 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 of a controlling majority interest been consummated on January 1, 2022, 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.

Pro forma:
For the Year Ended December 31
(in millions of U.S. dollars)20232022
Net premiums earned$46,502 $41,903 
Total revenues$50,550 $44,936 
Net income$8,850 $5,290 
Net income attributable to Chubb$8,859 $5,267 

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 several Asian markets. Chubb paid approximately $5.4 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. 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 following table summarizes the results of the acquired Cigna business in Asia that were included within our Consolidated statements of operations for the year ended December 31, 2022:

July 1, 2022 to
(in millions of U.S. dollars)December 31, 2022
Total revenues$1,507 
Net income$140 
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.

Pro forma:For the Year Ended December 31
(in millions of U.S. dollars)
2022
Net premiums earned$41,884 
Total revenues$44,605 
Net income$5,533 
v3.25.0.1
Investments
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Investment Investments
a) Fixed maturities

December 31, 2024Amortized
Cost		Valuation AllowanceGross Unrealized AppreciationGross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency$2,498 $— $3 $(160)$2,341 
Non-U.S.36,311 (23)753 (1,203)35,838 
Corporate and asset-backed securities45,231 (47)287 (2,264)43,207 
Mortgage-backed securities29,158 — 69 (1,979)27,248 
Municipal1,885 — 7 (163)1,729 
$115,083 $(70)$1,119 $(5,769)$110,363 

December 31, 2023Amortized
Cost		Valuation AllowanceGross
Unrealized
Appreciation		Gross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency$3,721 $— $13 $(144)$3,590 
Non-U.S.35,918 (49)592 (1,297)35,164 
Corporate and asset-backed securities44,695 (104)390 (2,151)42,830 
Mortgage-backed securities23,720 (3)143 (1,802)22,058 
Municipal3,074 — 10 (155)2,929 
$111,128 $(156)$1,148 $(5,549)$106,571 
The following table presents fixed maturities by contractual maturity:

December 31
20242023 
(in millions of U.S. dollars)Net Carrying ValueFair ValueNet Carrying ValueFair Value
Available-for-sale
Due in 1 year or less$4,507 $4,507 $4,729 $4,729 
Due after 1 year through 5 years33,446 33,446 33,573 33,573 
Due after 5 years through 10 years26,901 26,901 28,480 28,480 
Due after 10 years18,261 18,261 17,731 17,731 
83,115 83,115 84,513 84,513 
Mortgage-backed securities27,248 27,248 22,058 22,058 
$110,363 $110,363 $106,571 $106,571 

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 December 31, 2024 and 2023 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.

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

 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2024Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency$418 $(7)$1,477 $(153)$1,895 $(160)
Non-U.S.6,630 (138)12,023 (874)18,653 (1,012)
Corporate and asset-backed securities10,069 (194)13,290 (1,259)23,359 (1,453)
Mortgage-backed securities10,490 (170)11,987 (1,794)22,477 (1,964)
Municipal
349 (9)1,012 (150)1,361 (159)
Total AFS fixed maturities$27,956 $(518)$39,789 $(4,230)$67,745 $(4,748)

 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2023Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency$463 $(9)$2,504 $(135)$2,967 $(144)
Non-U.S.2,464 (43)15,971 (957)18,435 (1,000)
Corporate and asset-backed securities2,866 (51)20,334 (1,194)23,200 (1,245)
Mortgage-backed securities1,659 (58)13,831 (1,706)15,490 (1,764)
Municipal
1,117 (15)1,310 (137)2,427 (152)
Total AFS fixed maturities$8,569 $(176)$53,950 $(4,129)$62,519 $(4,305)
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended December 31
(in millions of U.S. dollars)20242023
Available-for-sale
Valuation allowance for expected credit losses - beginning of year$156 $169 
Provision for expected credit loss118 214 
Write-offs charged against the expected credit loss(6)(5)
Recovery of expected credit loss(198)(222)
Valuation allowance for expected credit losses - end of year$70 $156 
Held-to-maturity
Valuation allowance for expected credit losses - beginning of year$— $34 
Recovery of expected credit loss— (34)
Valuation allowance for expected credit losses - end of year$— $— 
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of year$4 $— 
Provision for expected credit loss2 4 
Recovery of expected credit loss(2)— 
Valuation allowance for expected credit losses - end of year$4 $4 
c) Net realized gains (losses)

The following table presents the components of net realized gains (losses) and the change in net unrealized appreciation (depreciation) of investments:
 Year Ended December 31
(in millions of U.S. dollars)202420232022
Fixed maturities:
Gross realized gains$132 $208 $619 
Gross realized losses(535)(656)(1,379)
Other investments - Fixed maturities (2)
602 (12)— 
Net (provision for) recovery of expected credit losses86 43 (154)
Impairment (1)
(94)(64)(135)
Total fixed maturities191 (481)(1,049)
Equity securities (2)
194 (38)(230)
Private equities (less than 3 percent ownership)124 70 (31)
Foreign exchange(223)(183)397 
Investment and embedded derivative instruments(189)(53)(43)
Other derivative instruments(4)(10)(11)
Other24 88 (118)
Net realized gains (losses) (pre-tax)$117 $(607)$(1,085)
Change in net unrealized appreciation (depreciation) on investments (pre-tax):
Fixed maturities available-for-sale$(251)$3,563 $(10,583)
Fixed maturities held-to-maturity— (125)(15)
Other— 10 20 
Income tax (expense) benefit(110)(328)1,043 
Change in net unrealized appreciation (depreciation) on investments (after-tax)$(361)$3,120 $(9,535)
(1)Relates to certain securities we intended to sell and securities written to market entering default.
(2)In 2024, Other investments - Fixed maturities and Equity securities includes $275 million and $(22) million, respectively, of realized gains (losses) related to investments measured under the fair value option.
Realized gains and losses from Other investments, Equity securities and Private equities from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:

Year Ended December 31, 2024
(in millions of U.S. dollars)Other InvestmentsEquity SecuritiesPrivate EquitiesTotal
Net gains (losses) recognized during the period$602 $194 $124 $920 
Less: Net gains (losses) recognized from sales of securities4 25 — 29 
Unrealized gains (losses) recognized for securities still held at reporting date$598 $169 $124 $891 
Year Ended December 31, 2023
(in millions of U.S. dollars)Other InvestmentsEquity Securities
Private Equities
Total
Net gains (losses) recognized during the period$(12)$(38)$70 $20 
Less: Net gains (losses) recognized from sales of securities
— (68)— (68)
Unrealized gains (losses) recognized for securities still held at reporting date$(12)$30 $70 $88 
Year Ended December 31, 2022
(in millions of U.S. dollars)Equity Securities
Private Equities
Total
Net gains (losses) recognized during the period$(230)$(31)$(261)
Less: Net gains (losses) recognized from sales of securities
409 — 409 
Unrealized gains (losses) recognized for securities still held at reporting date$(639)$(31)$(670)
d) Other investments
December 31
(in millions of U.S. dollars)20242023
Fixed maturities (1) (2)
$6,265 $3,773 
Life insurance policies518 463 
Policy loans941 651 
Non-qualified separate account assets (3)
256 258 
Other617 382 
Total$8,597 $5,527 
(1)Includes fixed maturities related to consolidated VIEs of $4.6 billion and $3.8 billion at December 31, 2024 and 2023, respectively. Refer to Note 1 g) to the Consolidated Financial Statements for additional information on the consolidation of VIEs.
(2)2024 includes $1.7 billion of fixed maturities measured at fair value under the fair value option.
(3)Non-qualified separate account assets comprise mutual funds, supported by assets that do not qualify for separate account reporting under U.S. GAAP.
e) Private equities
Private equities include investment funds, limited partnerships and partially-owned investment companies measured at fair value using net asset value (NAV) as a practical expedient. The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments for private equities:
December 31
 Expected Liquidation
Period of Underlying Assets		20242023
(in millions of U.S. dollars)Fair ValueMaximum
Future Funding
Commitments		Fair ValueMaximum
Future Funding
Commitments
Financial
2 to 10 Years
$1,265 $281 $1,241 $364 
Real assets
2 to 13 Years
1,974 547 2,137 445 
Distressed
2 to 8 Years
1,257 679 1,206 936 
Private credit
3 to 8 Years
295 285 331 298 
Traditional
2 to 14 Years
9,674 4,650 8,873 4,167 
Vintage
1 to 3 Years
64 — 72 — 
Investment fundsNot Applicable240 — 218 — 
$14,769 $6,442 $14,078 $6,210 

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 CategoryConsists of investments in private equity funds:
Financialtargeting financial services companies, such as financial institutions and insurance services worldwide
Real assetstargeting investments related to hard physical assets, such as real estate, infrastructure and natural resources
Distressedtargeting distressed corporate debt/credit and equity opportunities in the U.S.
Private credittargeting privately originated corporate debt investments, including senior secured loans and subordinated bonds
Traditionalemploying traditional private equity investment strategies such as buyout and growth equity globally
Vintagefunds where the initial fund term has expired

Included in private equities are 174 individual limited partnerships covering a broad range of investment strategies including large cap buyouts, specialist buyouts, growth capital, distressed, mezzanine, real estate, and co-investments. The underlying portfolio consists of various public and private debt and equity securities of publicly traded and privately held companies and real estate assets. The underlying investments across various partnerships, geographies, industries, asset types, and investment strategies provide risk diversification within the limited partnership portfolio and the overall investment portfolio.

Investment funds employ various investment strategies such as long/short equity and arbitrage/distressed. Included in this category are investments for which Chubb has the option to redeem at agreed upon value as described in each investment fund’s subscription agreement. Depending on the terms of the various subscription agreements, investment fund investments may be redeemed monthly, quarterly, semi-annually, or annually. If Chubb wishes to redeem an investment fund investment, it must first determine if the investment fund is still in a lock-up period (a time when Chubb cannot redeem its investment so that the investment fund manager has time to build the portfolio). If the investment fund is no longer in its lock-up period, Chubb must then notify the investment fund manager of its intention to redeem by the notification date prescribed by the subscription agreement. Subsequent to notification, the investment fund can redeem Chubb’s investment within several months of the notification. Notice periods for redemption of the investment funds are up to 270 days. Chubb can redeem its investment funds without consent from the investment fund managers.
f) Net investment income
Year Ended December 31
(in millions of U.S. dollars)2024 2023 2022 
Fixed maturities (1)
$5,535 $4,619 $3,594 
Short-term investments181 199 81 
Other interest income 80 69 42 
Equity securities125 119 99 
Private equities (less than 3 percent ownership)112 55 63 
Other investments103 71 41 
Gross investment income (1)
6,136 5,132 3,920 
Investment expenses(206)(195)(178)
Net investment income (1)
$5,930 $4,937 $3,742 
(1) Includes amortization expense related to fair value adjustment of acquired invested assets
$(16)$(21)$(41)

g) Restricted assets
Chubb is required to maintain assets on deposit with various regulatory authorities to support its insurance and reinsurance operations. These requirements are generally promulgated in the statutory regulations of the individual jurisdictions. The assets on deposit are available to settle insurance and reinsurance liabilities. Chubb is also required to restrict assets pledged under repurchase agreements, which represent Chubb's agreement to sell securities and repurchase them at a future date for a predetermined price. We use trust funds in certain large reinsurance transactions where the trust funds are set up for the benefit of the ceding companies and generally take the place of letter of credit (LOC) requirements. We have investments in segregated portfolios primarily to provide collateral or guarantees for LOC and derivative transactions. Included in restricted assets are investments, primarily fixed maturities, totaling $17,945 million and $18,242 million, and cash of $261 million and $172 million, at December 31, 2024 and 2023, respectively.
The following table presents the components of restricted assets: 
December 31
(in millions of U.S. dollars)20242023
Trust funds$8,170 $8,482 
Assets pledged under repurchase agreements2,890 2,924 
Deposits with U.S. regulatory authorities2,487 2,544 
Deposits with non-U.S. regulatory authorities and other4,659 4,464 
Total$18,206 $18,414 

h) Variable interest entities (VIEs)
Consolidated VIEs
Certain subsidiaries of Huatai Group are the investment manager of, and maintain investments in, sponsored investment products that are considered VIEs. We have determined that we are the primary beneficiary and consolidate these investment products if we hold at least 10 percent ownership. Refer to Note 1 g) for further information on our consolidation criteria. The assets of these VIEs are not available to our creditors, and the investors in these VIEs have no recourse to Chubb in excess of the assets contained within the VIEs. Our economic exposures are limited to our investments based on our ownership interest in these VIEs. Our total exposure to these consolidated investment products represents the value of our economic ownership interest.
Unconsolidated VIEs
In December 2024, we contributed $5.0 billion of fixed maturity securities and cash to a reserved alternative investment fund (Fund) sponsored and managed by a third-party investment fund manager. At the time of the contribution, the fixed maturities
had a fair value of $4.2 billion, resulting in a realized loss of $149 million, pre-tax. The contribution of fixed maturity securities represents a non-cash investing activity and does not impact the Consolidated statements of cash flows.

The Fund is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate the Fund because Chubb does not receive substantially all the risks and returns of the Fund. The carrying value of this investment at December 31, 2024, was $5.0 billion, which approximates our maximum risk of loss. We have elected to account for this investment using the fair value option, classified as Equity securities on the Consolidated balance sheets. We elected the fair value option so that changes in fair value of the Fund are recorded in Net realized gains (losses) and dividends from the Fund are recorded as Net investment income when declared on the Consolidated statements of operations.

We also do not consolidate sponsored investment products where we have determined that we are not the primary beneficiary. The carrying value of these investments at December 31, 2024 and 2023, was $97 million and $153 million, respectively, and our maximum risk of loss approximates the carrying amount. These investments are classified within Equity securities on the Consolidated balance sheets.
v3.25.0.1
Fair value measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair value measurements Fair value measurements
a) Fair value hierarchy
Fair value of financial assets and financial liabilities is estimated based on the framework established in the fair value accounting guidance. The guidance defines fair value as the price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants and establishes a three-level valuation hierarchy based on the reliability of the inputs. The fair value hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data.
 
The three levels of the hierarchy are as follows:

•Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets;
•Level 2 – Includes, among other items, inputs other than quoted prices that are observable for the asset or liability such as
interest rates and yield curves, quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active; and
•Level 3 – Inputs that are unobservable and reflect management’s judgments about assumptions that market participants
would use in pricing an asset or liability.

We categorize financial instruments within the valuation hierarchy at the balance sheet date based upon the lowest level of inputs that are significant to the fair value measurement.

We use pricing services to obtain fair value measurements for the majority of our investment securities. Based on management’s understanding of the methodologies used, these pricing services only produce an estimate of fair value if there is observable market information that would allow them to make a fair value estimate. Based on our understanding of the market inputs used by the pricing services, all applicable investments have been valued in accordance with U.S. GAAP. We do not adjust prices obtained from pricing services. 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 considered 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.

Private equities
Fair values for Private equities 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.

Other investments
Certain of our long-duration contracts are supported by assets that do not qualify for separate account treatment under U.S. GAAP. These assets primarily 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 principally include fixed maturities carried at fair value with changes in fair value recorded through Net realized gains (losses) on the Consolidated statements of operations. These fixed maturities principally relate to the Huatai investment portfolio, including those portfolios supporting certain participating policies, and are classified within Level 2. Also included are life insurance policies collateralizing investments held in rabbi trusts maintained by Chubb for deferred compensation plans and supplemental retirement plans. These policies are carried at cash surrender value and are classified in the valuation hierarchy within Level 2.

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
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. These 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. These 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 market risk benefits (MRB) claims, and therefore an increase in MRB reserves. 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 are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets. Chubb also maintains positions in convertible securities that contain embedded derivatives. Convertible securities are recorded in either Fixed maturities available-
for-sale (FM AFS) or Equity securities (ES) and are classified as either Level 1 or Level 2 depending on the underlying investment.

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 principally 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.
Financial instruments measured at fair value on a recurring basis, by valuation hierarchy 
December 31, 2024Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$1,765 $576 $— $2,341 
Non-U.S.— 35,234 604 35,838 
Corporate and asset-backed securities— 40,316 2,891 43,207 
Mortgage-backed securities— 27,245 3 27,248 
Municipal— 1,729 — 1,729 
1,765 105,100 3,498 110,363 
Equity securities (1)
4,053 — 120 4,173 
Short-term investments3,156 1,972 14 5,142 
Other investments (2)
573 6,783 — 7,356 
Securities lending collateral— 1,445 — 1,445 
Investment derivatives41 — — 41 
Derivatives designated as hedging instruments — 146 — 146 
Other derivative instruments35 — — 35 
Separate account assets6,165 66 — 6,231 
Total assets measured at fair value (1) (2) (3)
$15,788 $115,512 $3,632 $134,932 
Liabilities:
Investment derivatives$303 $— $— $303 
Derivatives designated as hedging instruments— 116 — 116 
Other derivative instruments— 2 — 2 
Market risk benefits (4)
— — 607 607 
Total liabilities measured at fair value$303 $118 $607 $1,028 
(1)Excluded from the table above is a fund of $4,978 million, measured using NAV as a practical expedient.
(2)Excluded from the table above are other investments of $1,241 million, principally policy loans measured using NAV as a practical expedient.
(3)Excluded from the table above are private equities of $14,769 million, measured using NAV as a practical expedient.
(4)Refer to Note 11 for additional information on Market risk benefits.

 
December 31, 2023Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$2,911 $679 $— $3,590 
Non-U.S.— 34,472 692 35,164 
Corporate and asset-backed securities— 40,208 2,622 42,830 
Mortgage-backed securities— 22,051 7 22,058 
Municipal— 2,929 — 2,929 
2,911 100,339 3,321 106,571 
Equity securities3,368 — 87 3,455 
Short-term investments1,915 2,633 3 4,551 
Other investments (1)
589 4,236 — 4,825 
Securities lending collateral— 1,299 — 1,299 
Investment derivatives54 — — 54 
Derivatives designated as hedging instruments
— 136 — 136 
Separate account assets5,482 91 — 5,573 
Total assets measured at fair value (1) (2)
$14,319 $108,734 $3,411 $126,464 
Liabilities:
Investment derivatives$136 $— $— $136 
Derivatives designated as hedging instruments
— 128 — 128 
Other derivative instruments37 5 — 42 
Market risk benefits (3)
— — 771 771 
Total liabilities measured at fair value$173 $133 $771 $1,077 
(1)Excluded from the table above are other investments of $702 million, principally policy loans measured using NAV as a practical expedient.
(2)Excluded from the table above are private equities of $14,078 million, measured using NAV as a practical expedient.
(3)Refer to Note 11 for additional information on Market risk benefits.
Level 3 financial instruments
The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3). Excluded from the following tables is the reconciliation of Market risk benefits, refer to Note 11 for additional information:
 Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Year Ended December 31, 2024Non-U.S.Corporate and asset-backed securitiesMortgage-backed securities
(in millions of U.S. dollars)
Balance, beginning of year$692 $2,622 $7 $87 $3 
Transfers into Level 32 57 — — — 
Transfers out of Level 3(7)(9)(54)— — 
Change in Net Unrealized Gains (Losses) in OCI
7 12 — — — 
Net Realized Gains (Losses)
(13)(15)— 8 — 
Purchases262 1,042 54 43 20 
Sales(99)(250)— (18)(1)
Settlements(240)(568)(4)— (8)
Balance, end of year$604 $2,891 $3 $120 $14 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$— $(3)$— $7 $— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$(2)$(2)$— $— $(1)

 Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Year Ended December 31, 2023Non-U.S.Corporate and asset-backed securities Mortgage-backed securities
(in millions of U.S. dollars)
Balance, beginning of year
$564 $2,449 $11 $90 $3 
Transfers into Level 321 30 — — — 
Transfers out of Level 3(22)(26)(15)— — 
Change in Net Unrealized Gains (Losses) in OCI
13 28 — — (1)
Net Realized Gains (Losses)
(4)(17)— (7)(1)
Purchases
258 681 15 24 5 
Sales(82)(81)— (20)(3)
Settlements(56)(442)(4)— — 
Balance, end of year$692 $2,622 $7 $87 $3 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$(1)$(5)$— $(7)$— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$7 $12 $— $— $— 
 Available-for-Sale Debt SecuritiesShort-term investments
Year Ended December 31, 2022Non-U.S.Corporate and asset-backed securitiesMortgage-backed securitiesEquity
securities
(in millions of U.S. dollars)
Balance, beginning of year$633 $2,049 $26 $77 $7 
Transfers into Level 323 47 — 1 — 
Transfers out of Level 3(23)(97)(9)— — 
Change in Net Unrealized Gains (Losses) in OCI
(53)(80)— — — 
Net Realized Gains (Losses)
(6)(14)— 15 (2)
Purchases
156 921 4 9 3 
Sales(59)(85)— (12)— 
Settlements(107)(292)(10)— (5)
Balance, end of year$564 $2,449 $11 $90 $3 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$(2)$(9)$— $14 $(1)
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$(53)$(84)$— $— $— 


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.

Private debt held-for-investment
The fair value of Private debt held-for-investment is derived using a discounted cash flow approach, which includes an evaluation of forecasted contractual cash flows and yield curve information, among other loan characteristics and assumptions. These assumptions are derived from internal and third-party sources. Since the valuation is derived from model-based techniques, Private debt held-for-investment is classified within Level 3 of the valuation hierarchy.

Short- and long-term debt, repurchase agreements, and hybrid debt
Where practical, fair values for short-term debt, long-term debt, repurchase agreements, and hybrid debt are estimated using discounted cash flow calculations based principally on observable inputs including incremental borrowing rates, which reflect Chubb’s credit rating, for similar types of borrowings with maturities consistent with those remaining for the debt being valued. Short-term debt, long-term debt, repurchase agreements, and hybrid debt are classified within Level 2 of the valuation hierarchy.
The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:
December 31, 2024Fair ValueNet Carrying Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment
$— $— $2,680 $2,680 $2,628 
Total assets$— $— $2,680 $2,680 $2,628 
Liabilities:
Repurchase agreements$— $2,731 $— $2,731 $2,731 
Short-term debt— 797 — 797 800 
Long-term debt— 12,979 — 12,979 14,379 
Hybrid debt— 479 — 479 419 
Total liabilities$— $16,986 $— $16,986 $18,329 

December 31, 2023Fair ValueNet Carrying Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment$— $— $2,560 $2,560 $2,553 
Total assets$— $— $2,560 $2,560 $2,553 
Liabilities:
Repurchase agreements$— $2,833 $— $2,833 $2,833 
Short-term debt— 1,431 — 1,431 1,460 
Long-term debt— 11,924 — 11,924 13,035 
Hybrid debt— 365 — 365 308 
Total liabilities$— $16,553 $— $16,553 $17,636 
v3.25.0.1
Reinsurance
 12 Months Ended
Dec. 31, 2024
Reinsurance Disclosures [Abstract]  
Reinsurance Reinsurance
a) Consolidated Reinsurance
Chubb purchases reinsurance to manage various exposures including catastrophe risks. Although reinsurance agreements contractually obligate Chubb's reinsurers to reimburse it for the agreed-upon portion of its gross paid losses, they do not discharge Chubb's primary liability. The amounts for net premiums written and net premiums earned in the Consolidated statements of operations are net of reinsurance. The following table presents direct, assumed, and ceded premiums:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Premiums written
Direct$56,867 $52,969 $47,511 
Assumed5,136 4,557 4,467 
Ceded(10,535)(10,165)(10,258)
Net$51,468 $47,361 $41,720 
Premiums earned
Direct$55,148 $51,582 $46,160 
Assumed4,970 4,289 4,395 
Ceded(10,272)(10,159)(10,195)
Net$49,846 $45,712 $40,360 
Ceded losses and loss expenses incurred were $6.5 billion, $7.2 billion, and $6.9 billion for the years ended December 31, 2024, 2023, and 2022, respectively.


b) Reinsurance Recoverable on Ceded Reinsurance
December 31, 2024December 31, 2023
(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$17,734 $242 $17,884 $285 
Reinsurance recoverable on paid losses and loss expenses2,043 68 2,068 82 
Reinsurance recoverable on losses and loss expenses$19,777 $310 $19,952 $367 
Reinsurance recoverable on policy benefits$289 $— $280 $— 
(1)     Net of valuation allowance for uncollectible reinsurance.


The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on losses and loss expenses:
Year Ended December 31
(in millions of U.S. dollars)20242023
Valuation allowance for uncollectible reinsurance - beginning of year$367 $351 
Provision for (release of) uncollectible reinsurance
(15)47 
Write-offs charged against the valuation allowance(41)(32)
Foreign exchange revaluation(1)1 
Valuation allowance for uncollectible reinsurance - end of year$310 $367 
The following tables present a listing, at December 31, 2024, of the categories of Chubb's reinsurers:
December 31, 2024Gross Reinsurance Recoverable on Losses and Loss ExpensesValuation allowance for Uncollectible Reinsurance% of Gross Reinsurance Recoverable
(in millions of U.S. dollars, except for percentages)
Categories
Largest reinsurers$10,278 $116 1.1 %
Other reinsurers rated A- or better5,557 67 1.2 %
Other reinsurers rated lower than A- or not rated441 27 6.1 %
Pools422 10 2.4 %
Structured settlements489 8 1.6 %
Captives2,704 13 0.5 %
Other196 69 35.2 %
Total$20,087 $310 1.5 %

Largest Reinsurers
ABR Reinsurance Capital HoldingsLloyd's of LondonSwiss Re Group
Berkshire Hathaway Insurance GroupMunich Re Group
HDI Group (Hannover Re)PartnerRe Group

Categories of Chubb's reinsurersComprises:
Largest reinsurers
• All groups of reinsurers or captives where the gross recoverable exceeds one percent of Total Chubb shareholders' equity.
Other reinsurers rated A- or better
• All reinsurers rated A- or better that were not included in the largest reinsurer category.
Other reinsurers rated lower than A- or not rated
• All reinsurers rated lower than A- or not rated that were not included in the largest reinsurer category.
Pools
• Related to Chubb's voluntary pool participation and Chubb's mandatory pool participation required by law in certain states.
Structured settlements
• Annuities purchased from life insurance companies to settle claims. Since we retain ultimate liability in the event that the life company fails to pay, we reflect the amounts as both a liability and a recoverable/receivable for U.S. GAAP purposes.
Captives
• Companies established and owned by our insurance clients to assume a significant portion of their direct insurance risk from Chubb; structured to allow clients to self-insure a portion of their reinsurance risk. It generally is our policy to obtain collateral equal to expected losses. Where appropriate, exceptions are granted but only with review and approval at a senior officer level. Excludes captives included in the largest reinsurer category.
Other
• Amounts recoverable that are in dispute or are from companies that are in supervision, rehabilitation, or liquidation.
The valuation allowance for uncollectible reinsurance is principally based on an analysis of the credit quality of the reinsurer and collateral balances. We establish the valuation allowance for uncollectible reinsurance for the Other category based on a case-by-case analysis of individual situations including the merits of the underlying matter, credit and collateral analysis, and consideration.
v3.25.0.1
Deferred acquisition costs
 12 Months Ended
Dec. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract]  
Deferred Policy Acquisition Costs Deferred policy acquisition costs
The following tables present a roll-forward of deferred policy acquisition costs on long-duration contracts included in the Life Insurance segment:

Year Ended December 31, 2024
(in millions of U.S. dollars)Term LifeUniversal LifeWhole LifeA&HOtherTotal
Balance – beginning of period $402 $674 $534 $1,301 $274 $3,185 
Capitalizations201 156 387 630 82 1,456 
Amortization expense(121)(81)(37)(182)(27)(448)
Other (including foreign exchange)(13)(27)(14)(68)(5)(127)
Balance – end of period$469 $722 $870 $1,681 $324 $4,066 
Overseas General Insurance segment excluded from table605 
Total deferred policy acquisition costs on long-duration contracts
$4,671 
Deferred policy acquisition costs on short-duration contracts3,687 
Total deferred policy acquisition costs$8,358 

Year Ended December 31, 2023
(in millions of U.S. dollars)Term LifeUniversal LifeWhole LifeA&HOtherTotal
Balance – beginning of period $324 $639 $392 $891 $268 $2,514 
Capitalizations176 129 159 564 36 1,064 
Amortization expense(100)(80)(23)(137)(29)(369)
Other (including foreign exchange)2 (14)6 (17)(1)(24)
Balance – end of period$402 $674 $534 $1,301 $274 $3,185 
Overseas General Insurance segment excluded from table621 
Total deferred policy acquisition costs on long-duration contracts
$3,806 
Deferred policy acquisition costs on short-duration contracts3,346 
Total deferred policy acquisition costs$7,152 
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] Goodwill, Value of business acquired, and Other intangible assets
Goodwill
The following table presents a roll-forward of Goodwill by segment:
(in millions of U.S. dollars)North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal ReinsuranceLife Insurance Chubb Consolidated
Balance at December 31, 2022$6,945 $2,230 $134 $4,605 $371 $1,943 $16,228 
Purchase price adjustments— — — 8 — (10)(2)
Consolidation of Huatai Group— — — 562 — 2,832 3,394 
Foreign exchange revaluation and other1 1 — 87 — (23)66 
Balance at December 31, 2023$6,946 $2,231 $134 $5,262 $371 $4,742 $19,686 
Acquisition of Healthy Paws256 — — — — — 256 
Measurement-period adjustments— — — — — 65 65 
Foreign exchange revaluation(34)(13)— (215)— (166)(428)
Balance at December 31, 2024 (1)
$7,168 $2,218 $134 $5,047 $371 $4,641 $19,579 
(1)Includes $499 million attributable to noncontrolling interests.


Value of business acquired (VOBA)
The following table presents a roll-forward of VOBA:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Balance, beginning of year$3,674 $3,702 $235 
Acquisition of Cigna's business in Asia— — 3,633 
Consolidation of Huatai Group— 309 — 
Amortization of VOBA (1)
(240)(281)(149)
Foreign exchange revaluation and other(211)(56)(17)
Balance, end of year$3,223 $3,674 $3,702 
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.


The following table presents, as of December 31, 2024, the expected estimated pre-tax amortization expense related to VOBA at current foreign currency exchange rates, for the next five years:

For the Years Ending December 31Total amortization of VOBA
(in millions of U.S. dollars)
2025$207 
2026182 
2027165 
2028151 
2029140 
Total$845 
Other intangible assets    
December 31
(in millions of U.S. dollars)20242023
Subject to amortization (primarily agency distribution relationships and renewal rights)
$2,900 $3,267 
Not subject to amortization (primarily trademarks)
3,477 3,508 
Total$6,377 $6,775 

The following table presents, as of December 31, 2024, the expected estimated pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the next five years:

For the Years Ending December 31
(in millions of U.S. dollars)Total amortization of purchased intangibles
Amortization of Huatai UPR intangible asset (1)
Amortization of Huatai land use rights (2)
Total amortization
2025$298 $16 $12 $326 
2026279 7 12 298 
2027259 3 12 274 
2028247 — 13 260 
2029215 — 13 228 
Total$1,298 $26 $62 $1,386 
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.
(2)Recognized in Other (income) expense in the Consolidated statements of operations.
v3.25.0.1
Unpaid losses and loss expenses, and Future policy benefits
 12 Months Ended
Dec. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]  
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]
Chubb establishes reserves for the estimated unpaid ultimate liability for losses and loss expenses under the terms of its policies and agreements. Reserves include estimates for both claims that have been reported and for IBNR claims, and include estimates of expenses associated with processing and settling these claims. Reserves are recorded in Unpaid losses and loss expenses in the Consolidated balance sheets. While we believe that our reserves for unpaid losses and loss expenses at December 31, 2024, are adequate, new information or trends may lead to future developments in incurred loss and loss expenses significantly greater or less than the reserves provided. Any such revisions could result in future changes in estimates of losses or reinsurance recoverable and would be reflected in our results of operations in the period in which the estimates are changed.
The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Gross unpaid losses and loss expenses, beginning of year$80,122 $75,747 $72,330 
Reinsurance recoverable on unpaid losses (1)
(17,884)(17,086)(16,132)
Net unpaid losses and loss expenses, beginning of year62,238 58,661 56,198 
Net losses and loss expenses incurred in respect of losses occurring in:
Current year26,997 24,956 23,680 
Prior years (2)
(975)(856)(1,108)
Total26,022 24,100 22,572 
Net losses and loss expenses paid in respect of losses occurring in:
Current year8,681 8,248 7,331 
Prior years12,822 12,763 12,206 
Total21,503 21,011 19,537 
Consolidation of Huatai Group— 405 — 
Foreign currency revaluation and other(487)83 (572)
Net unpaid losses and loss expenses, end of year66,270 62,238 58,661 
Reinsurance recoverable on unpaid losses (1)
17,734 17,884 17,086 
Gross unpaid losses and loss expenses, end of year$84,004 $80,122 $75,747 
(1)     Net of valuation allowance for uncollectible reinsurance.
(2)    Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $119 million, $83 million, and $232 million for 2024, 2023, and 2022, respectively.

The increase in net unpaid losses and loss expense in 2024 principally reflects underlying exposure growth and net catastrophe losses, partially offset by the impact of favorable prior period development and foreign exchange movement. The increase in gross and net unpaid losses and loss expense in 2023 reflects underlying exposure growth and the consolidation of Huatai, partially offset by favorable prior period development.

The loss development tables under section c) below, present Chubb’s historical incurred and paid claims development by broad product line through December 31, 2024, net of reinsurance, as well as the cumulative number of reported claims, IBNR balances, and other supplementary information.
The following table presents a reconciliation of the loss development tables to the liability for unpaid losses and loss expenses in the consolidated balance sheet:

Reconciliation of Reserve Balances to Liability for Unpaid Loss and Loss Expenses
(in millions of U.S. dollars)December 31, 2024
Presented in the loss development tables:
  North America Commercial P&C Insurance — Workers' Compensation$10,195 
  North America Commercial P&C Insurance — Liability22,401 
  North America Commercial P&C Insurance — Other Casualty2,764 
  North America Commercial P&C Insurance — Non-Casualty3,572 
  North America Personal P&C Insurance4,182 
  Overseas General Insurance — Casualty8,639 
  Overseas General Insurance — Non-Casualty3,907 
  Global Reinsurance — Casualty1,328 
  Global Reinsurance — Non-Casualty540 
Excluded from the loss development tables:
  Other6,673 
Net unpaid loss and allocated loss adjustment expense64,201 
Ceded unpaid loss and allocated loss adjustment expense:
  North America Commercial P&C Insurance — Workers' Compensation1,090 
  North America Commercial P&C Insurance — Liability7,564 
  North America Commercial P&C Insurance — Other Casualty1,148 
  North America Commercial P&C Insurance — Non-Casualty1,022 
  North America Personal P&C Insurance529 
  Overseas General Insurance — Casualty2,986 
  Overseas General Insurance — Non-Casualty1,880 
  Global Reinsurance — Casualty137 
  Global Reinsurance — Non-Casualty83 
  Other1,524 
Ceded unpaid loss and allocated loss adjustment expense17,963 
Unpaid unallocated loss adjustment expenses1,840 
Unpaid losses and loss expenses$84,004 
Business excluded from the loss development tables
“Other” shown in the reconciliation table comprises businesses excluded from the loss development tables:
•Corporate segment business, which includes run-off liabilities such as asbestos, environmental, and molestation and other mass tort exposures and which impact accident years older than those shown in the loss development tables;
•North America Agricultural Insurance segment business, which is short-tailed with the majority of the liabilities expected to be resolved in the ensuing twelve months; and
•Certain subsets of our business due to data limitations or unsuitability to the loss development table presentation, including:
•Various loss portfolio transfers; by convention, all premium and losses associated with these transactions are recorded to the policy period of the transaction, even though the accident dates of the claims covered may be a decade or more in the past. We also underwrite certain high attachment, high limit, multiple-line and excess of aggregate coverages for large commercial clients. Changes in incurred loss and cash flow patterns are volatile and sufficiently different from those of typical insureds. This category includes the Alternative Risk Solutions business within the North America Commercial P&C Insurance segment;
•2015 paid history on a subset of previously acquired international businesses, within the Overseas General Insurance segment, due to limitations on the data prior to the acquisition;
•Huatai P&C business and International A&H lines, where incurred loss development is shorter-tailed than the majority of the liabilities in the Overseas General segment and reported claims are high frequency and low severity in nature;
•Purchase accounting adjustments related to unpaid losses and loss expenses for Chubb Corp;
•Reinsurance recoverable bad debt; and
•Balances with insufficient detail.

a) Description of Reserving Methodologies
Our recorded reserves represent management's best estimate of the provision for unpaid claims as of the balance sheet date. The process of establishing loss and loss expense reserves can be complex and is subject to considerable uncertainty as it requires the use of estimates and judgments based on circumstances underlying the insured loss at the date of accrual. The reserves for our various product lines each require different qualitative and quantitative assumptions and judgments to be made. Management's best estimate is developed after collaboration with actuarial, underwriting, claims, legal, and finance departments and culminates with the input of reserve committees. Each business unit reserve committee includes the participation of the relevant parties from actuarial, finance, claims, and unit senior management and has the responsibility for finalizing, recommending and approving the estimate to be used as management's best estimate. Reserves are further reviewed by Chubb's Chief Actuary and senior management. The objective of such a process is to determine a single estimate that we believe represents a better estimate than any other and which is viewed by management to be the best estimate of ultimate loss settlements. This estimate is based on a combination of exposure and experience-based actuarial methods (described below) and other considerations such as claims reviews, reinsurance recovery assumptions and/or input from other knowledgeable parties such as underwriting. Exposure-based methods are most commonly used on relatively immature origin years (i.e., the year in which the losses were incurred — “accident year” or “report year”), while experience-based methods provide a view based on the projection of loss experience that has emerged as of the valuation date. Greater reliance is placed upon experience-based methods as the pool of emerging loss experience grows and where it is deemed sufficiently credible and reliable as the basis for the estimate. In comparing the held reserve for any given origin year to the actuarial projections, judgment is required as to the credibility, uncertainty and inherent limitations of applying actuarial techniques to historical data to project future loss experience. Examples of factors that impact such judgments include, but are not limited to, the following:

•nature and complexity of underlying coverage provided and net limits of exposure provided;
•segmentation of data to provide sufficient homogeneity and credibility for loss projection methods;
•extent of credible internal historical loss data and reliance upon industry information as required;
•historical variability of actual loss emergence compared with expected loss emergence;
•reported and projected loss trends;
•extent of emerged loss experience relative to the remaining expected period of loss emergence;
•rate monitor information for new and renewal business;
•changes in claims handling practice;
•inflation;
•the legal environment;
•facts and circumstances of large claims;
•terms and conditions of the contracts sold to our insured parties;
•impact of applicable reinsurance recoveries; and
•nature and extent of underlying assumptions.
Actuarial staff within each of our business units analyze loss reserves (including loss expenses) and regularly project estimates of ultimate losses and the corresponding indications of the required IBNR reserve. Our reserving approach is a comprehensive ground-up process using data at a detailed level that reflects the specific types and coverages of the diverse products written by our various operations. The data presented in this disclosure was prepared on a more aggregated basis and with a focus on changes in incurred loss estimates over time as well as associated cash flows. We note that data prepared on this basis may not demonstrate the full spectrum of characteristics that are evident in the more detailed level studied internally.

We perform an actuarial reserve review for each product line at least once a year. For most product lines, one or more standard actuarial reserving methods may be used to determine estimates of ultimate losses and loss expenses, and from these estimates, a single actuarial central estimate is selected. The actuarial central estimate is an input to the reserve committee process described above. For the few product lines that do not lend themselves to standard actuarial reserving methods, appropriate techniques are applied to produce the actuarial central estimates. For example, run-off asbestos and environmental liability estimates are better suited to the application of account-specific exposure-based analyses to best evaluate their associated aggregate reserve levels.

b) Standard actuarial reserving methods
The judgments involved in projecting the ultimate losses include the use and interpretation of various standard actuarial reserving methods that place reliance on the extrapolation of actual historical data, loss development patterns, industry data, and other benchmarks as appropriate.

Standard actuarial reserving methods include, but are not limited to, expected loss ratio, paid and reported loss development, and Bornhuetter-Ferguson methods. A general description of these methods is provided below. In addition to these standard methods, depending upon the product line characteristics and available data, we may use other recognized actuarial methods and approaches. Implicit in the standard actuarial methods that we generally utilize is the need for two fundamental assumptions: first, the pattern by which losses are expected to emerge over time for each origin year, and second, the expected loss ratio for each origin year.

The expected loss ratio for any particular origin year is selected after consideration of a number of factors, including historical loss ratios adjusted for rate changes, premium and loss trends, industry benchmarks, the results of policy level loss modeling at the time of underwriting, and/or other more subjective considerations for the product line (e.g., terms and conditions) and external environment as noted above. The expected loss ratio for a given origin year is initially established at the start of the origin year as part of the planning process. This analysis is performed in conjunction with underwriters and management. The expected loss ratio method arrives at an ultimate loss estimate by multiplying the expected ultimate loss ratio by the corresponding premium base. This method is most commonly used as the basis for the actuarial central estimate for immature origin periods on product lines where the actual paid or reported loss experience is not yet deemed sufficiently credible to serve as the principal basis for the selection of ultimate losses. The expected loss ratio for a given origin year may be modified over time if the underlying assumptions differ from the original assumptions (e.g., the assessment of prior year loss ratios, loss trend, rate changes, actual claims, or other information).

Our selected paid and reported development patterns provide a benchmark against which the actual emerging loss experience can be monitored. Where possible, development patterns are selected based on historical loss emergence by origin year. For product lines where the historical data is viewed to have low statistical credibility, the selected development patterns also reflect relevant industry benchmarks and/or experience from similar product lines written elsewhere within Chubb. This most commonly occurs for relatively new product lines that have limited historical data or for high severity/low frequency portfolios where our historical experience exhibits considerable volatility and/or lacks credibility. The paid and reported loss development methods convert the selected loss emergence pattern to a set of multiplicative factors which are then applied to actual paid or reported losses to arrive at an estimate of ultimate losses for each period. Due to their multiplicative nature, the paid and reported loss development methods will leverage differences between actual and expected loss emergence. These methods tend to be utilized for more mature origin periods and for those portfolios where the loss emergence has been relatively consistent over time.

The Bornhuetter-Ferguson method is a combination of the expected loss ratio method and the loss development method, where the loss development method is given more weight as the origin year matures. This approach allows a logical transition between the expected loss ratio method which is generally utilized at earlier maturities and the loss development methods which are typically utilized at later maturities. We usually apply this method using reported loss data although paid data may also be used.
Short-tail business
Short-tail business generally describes product lines for which losses are typically known and paid shortly after the loss occurs. This would include, for example, most property, personal accident, and automobile physical damage policies that we write. Due to the short reporting and development pattern for these product lines, the uncertainty associated with our estimate of ultimate losses for any particular accident period diminishes relatively quickly as actual loss experience emerges. We typically assign credibility to methods that incorporate actual loss emergence, such as the paid and reported loss development and Bornhuetter-Ferguson methods, sooner than would be the case for long-tail lines at a similar stage of development for a given origin year. The reserving process for short-tail losses arising from catastrophic events typically involves an assessment by the claims department, in conjunction with underwriters and actuaries, of our exposure and estimated losses immediately following an event and then subsequent revisions of the estimated losses as our insureds provide updated actual loss information.

Long-tail business
Long-tail business describes lines of business for which specific losses may not be known/reported for some period and for which claims can take significant time to settle/close. This includes most casualty lines such as general liability, D&O, and workers' compensation. There are various factors contributing to the uncertainty and volatility of long-tail business, including the indirect impact of COVID-19 that has changed loss reporting and development patterns. In addition, uncertain future inflationary trends, changes in future legal environments, and the potential impact of major claims, such as molestation claims including the Boy Scouts of America (BSA) agreement-in-principle, added to the uncertainty and volatility in the long-tail business. Other factors are:
•The nature and complexity of underlying coverage provided and net limits of exposure provided;
•Our historical loss data and experience is sometimes too immature and lacking in credibility to rely upon for reserving purposes. Where this is the case, in our reserve analysis we may utilize industry loss ratios or industry benchmark development patterns that we believe reflect the nature and coverage of the underwritten business and its future development, where available. For such product lines, actual loss experience may differ from industry loss statistics as well as loss experience for previous underwriting years;
•The difficulty in estimating loss trends, claims inflation (e.g., medical and judicial) and underlying economic conditions;
•The need for professional judgment to estimate loss development patterns beyond that represented by historical data using supplemental internal or industry data, extrapolation, or a blend of both;
•The need to address shifts in business mix or volume over time when applying historical paid and reported loss development patterns from older origin years to more recent origin years. For example, changes over time in the processes and procedures for establishing case reserves can distort reported loss development patterns or changes in ceded reinsurance structures by origin year can alter the development of paid and reported losses;
•Loss reserve analyses typically require loss or other data be grouped by common characteristics in some manner. If data from two combined lines of business exhibit different characteristics, such as loss payment patterns, the credibility of the reserve estimate could be affected. Additionally, since casualty lines of business can have significant intricacies in the terms and conditions afforded to the insured, there is an inherent risk as to the homogeneity of the underlying data used in performing reserve analyses; and
•The applicability of the price change data used to estimate ultimate loss ratios for most recent origin years.

As described above, various factors are considered when determining appropriate data, assumptions, and methods used to establish the loss reserve estimates for long-tail product lines. These factors may also vary by origin year for given product lines. The derivation of loss development patterns from data and the selection of a tail factor to project ultimate losses from actual loss emergence require considerable judgment, particularly with respect to the extent to which historical loss experience is relied upon to support changes in key reserving assumptions.
c) Loss Development Tables
The tables were designed to present business with similar risk characteristics which exhibit like development patterns and generally similar trends, in order to provide insight into the nature, amount, timing and uncertainty of cash flows related to our claims liabilities.

Each table follows a similar format and reflects the following:
•The incurred loss triangle includes both reported case reserves and IBNR liabilities.
•Both the incurred and paid loss triangles include allocated loss adjustment expense (i.e., defense and investigative costs particular to individual claims) but exclude unallocated loss adjustment expense (i.e., the costs associated with internal claims staff and third-party administrators).
•The amounts in both triangles for the years ended December 31, 2015, to December 31, 2023, and average historical claim duration as of December 31, 2024, are presented as supplementary information.
•All data presented in the triangles is net of reinsurance recoverables.
•The IBNR reserves shown to the right of each incurred loss development exhibit reflect the net IBNR recorded as of December 31, 2024.
•The tables are presented retrospectively with respect to acquisitions where these are material and doing so is practicable. Most notably, the Chubb Corp acquisition is presented retrospectively. The unaudited consolidated data is presented solely for informational purposes and is not necessarily indicative of the consolidated data that might have been observed had the transactions been completed prior to the date indicated.

Historical dollar amounts are presented in this footnote on a constant-dollar basis, which is achieved by assuming constant foreign exchange rates for all periods in the loss triangles, translating prior period amounts using the same local currency exchange rates as the current year end. The impact of this conversion is to show the change between periods exclusive of the effect of fluctuations in exchange rates, which would otherwise distort the change in incurred loss and cash flow patterns shown. The change in incurred loss shown will differ from other U.S. GAAP disclosures of incurred prior period reserve development amounts, which include the effect of fluctuations in exchanges rates.

We provided guidance above on key assumptions that should be considered when reviewing this disclosure and information relating to how loss reserve estimates are developed. We believe the information provided in the “Loss Development Tables” section of the disclosure is of limited use for independent analysis or application of standard actuarial estimations.

Cumulative Number of Reported Claims
Reported claim counts, on a cumulative basis, are provided to the far right of each incurred loss development table. In our North America segments, we generally consider a reported claim to be one claim per coverage per claimant. In our Overseas General Insurance segment, we generally consider a reported claim to be on a per occurrence basis. Global Reinsurance segment’s portfolio comprises a mix of proportional and non-proportional treaties. The proportional treaties are reported on a bulk basis and do not lend themselves to meaningful claim count data. As such, we do not provide claim count information for our Global Reinsurance segment.

We exclude claims closed without payment. Claims are counted on a direct basis without consideration of ceded reinsurance. Use of the presented claim counts in analysis of company experience has significant limitations, including:
•Claims for certain events and/or product lines, such as portions of our A&H business, are not reported on an individual basis, but rather in bulk and thus not available for inclusion in this disclosure.
•Each segment typically has a mixture of primary and excess experience which has shifted over time.
•Captive business, especially in Workers' Compensation and Liability, largely represents fronted business where our net exposure to loss is minimal; however, since the claim count is based on direct claims, there is a mismatch between direct claims and net loss dollars, the extent of which varies by accident year.

Reported claim counts include open claims which have case reserves but exclude claims that have been incurred but not reported. As such the reported claims are not consistent with the incurred losses in the triangle, which include incurred but not reported losses. One can calculate reported losses by subtracting incurred but not reported losses from incurred losses in the triangle. Reported claim counts are also inconsistent with losses in the paid loss triangle, since reported counts would include claims with case reserves but no payments to date.
North America Commercial P&C Insurance — Workers' Compensation — Long-tail
This product line has a broad mix of exposures across industries as well as a mix of policy coverages. Types of coverage include risk management business predominantly with high deductible policies, loss sensitive business (i.e., retrospectively-rated policies), business fronted for captives, as well as excess and primary guaranteed cost coverages.

The triangle below shows all loss and allocated expense development for the workers' compensation product line. In our prior period development disclosure, we exclude any loss development where there is a directly related premium adjustment. For workers' compensation, changes in the exposure base due to payroll audits will drive changes in ultimate losses. In addition, we record involuntary pool assumptions (premiums and losses) on a lagged basis. Both of these items will influence the development in the triangle, particularly the first prior accident year, and are included in the reconciliation table presented on page F-60.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31 As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,282 $1,259 $1,276 $1,279 $1,217 $1,154 $1,128 $1,092 $1,057 $1,032 $257 50 
20161,366 1,361 1,383 1,378 1,269 1,206 1,177 1,162 1,117 299 51 
20171,412 1,380 1,399 1,393 1,376 1,176 1,121 1,069 329 50 
20181,359 1,361 1,379 1,384 1,384 1,221 1,175 381 52 
20191,390 1,383 1,400 1,409 1,406 1,297 447 48 
20201,367 1,388 1,409 1,408 1,395 690 32 
20211,348 1,330 1,372 1,370 618 36 
20221,344 1,407 1,435 769 39 
20231,371 1,413 798 38 
20241,380 981 33 
Total$12,683 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$116 $301 $418 $501 $564 $606 $628 $645 $665 $679 
2016122 326 452 529 584 621 653 683 707 
2017120 313 437 516 564 601 626 648 
2018130 329 451 528 597 641 681 
2019143 341 467 575 640 692 
2020111 282 390 466 520 
2021120 331 458 552 
2022131 332 472 
2023129 358 
2024147 
Total$5,456 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$2,968 
Accident years 2015 - 2024 from tables above7,227 
All Accident years$10,195 
North America Commercial P&C Insurance — Workers' Compensation — Long-tail (continued)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(151)
Accident years 2015 - 2024 from tables above(222)
All Accident years$(373)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage10 %16 %10 %7 %5 %4 %3 %2 %2 %1 %

North America Commercial P&C Insurance — Liability — Long-tail
This line consists of primary and excess general liability exposures, medical liability, and professional lines, including directors and officers (D&O) liability, errors and omissions (E&O) liability, employment practices liability (EPL), fidelity bonds, and fiduciary liability.

The primary and excess general liability business represents the largest part of these exposures. The former includes both monoline and commercial package liability. The latter includes a substantial proportion of commercial umbrella, excess and high excess business, where loss activity can produce significant volatility in the loss triangles at later ages within an accident year (and sometimes across years) due to the size of the limits afforded and the complex nature of the underlying losses.

This line includes management and professional liability products provided to a wide variety of clients, from national accounts to small firms along with private and not-for-profit organizations, distributed through brokers, agents, wholesalers, and MGAs. Many of these coverages, particularly D&O and E&O, are typically written on a claims-made form. While most of the coverages are underwritten on a primary basis, there are significant amounts of excess exposure with large policy limits.

Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$3,546 $3,694 $3,803 $3,959 $3,926 $3,720 $3,694 $3,562 $3,606 $3,587 $293 27 
20163,520 3,582 3,678 3,790 3,787 3,759 3,751 3,655 3,693 324 27 
20173,310 3,485 3,566 3,617 3,539 3,428 3,487 3,517 446 26 
20183,362 3,479 3,681 3,813 3,894 3,910 3,987 586 28 
20193,440 3,613 3,851 4,043 4,051 4,007 824 30 
20204,095 3,821 3,914 3,972 3,839 1,124 24 
20214,310 4,343 4,434 4,532 1,984 25 
20224,556 4,561 4,656 2,689 26 
20234,696 4,900 3,406 30 
20245,135 4,617 28 
Total$41,853 
North America Commercial P&C Insurance — Liability — Long-tail (continued)
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$138 $603 $1,201 $1,849 $2,283 $2,523 $2,739 $2,916 $3,074 $3,171 
2016171 661 1,333 1,972 2,330 2,591 2,818 2,979 3,105 
2017160 615 1,158 1,696 1,998 2,320 2,624 2,866 
2018189 752 1,299 1,771 2,332 2,779 3,068 
2019175 667 1,243 1,885 2,384 2,753 
2020151 588 1,146 1,696 2,269 
2021173 608 1,198 1,927 
2022144 648 1,278 
2023196 827 
2024195 
Total$21,459 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$2,007 
Accident years 2015 - 2024 from tables above20,394 
All Accident years$22,401 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$69 
Accident years 2015 - 2024 from tables above346 
All Accident years$415 
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage4 %12 %15 %16 %12 %9 %7 %5 %4 %3 %
North America Commercial P&C Insurance — Other Casualty — Long-tail
This product line consists of the remaining commercial casualty coverages such as automobile liability and aviation as well as our foreign casualty exposures (mainly auto, general liability and employer responsibility coverages) on U.S.-based multinational accounts. The paid and reported data are impacted by some catastrophe loss activity.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$485 $468 $499 $513 $456 $453 $461 $456 $455 $450 $12 15 
2016503 500 526 523 480 479 469 473 466 13 16 
2017530 564 576 615 603 590 602 609 19 17 
2018534 562 573 579 575 605 625 13 17 
2019605 635 684 742 755 766 38 17 
2020639 632 655 637 613 68 11 
2021674 709 746 762 188 15 
2022781 800 846 243 22 
2023843 882 432 21 
2024883 676 13 
Total$6,902 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$47 $137 $214 $303 $369 $393 $410 $422 $430 $432 
201652 145 246 323 374 398 424 437 441 
201765 175 312 380 445 496 538 560 
201874 169 270 365 471 532 580 
201970 189 318 464 618 684 
202054 156 273 400 480 
202160 176 293 439 
202282 234 399 
202381 248 
202485 
Total$4,348 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$210 
Accident years 2015 - 2024 from tables above2,554 
All Accident years$2,764 
North America Commercial P&C Insurance — Other-Casualty — Long-tail (continued)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(4)
Accident years 2015 - 2024 from tables above103 
All Accident years$99 
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage10 %17 %18 %17 %15 %8 %6 %3 %1 %— %

North America Commercial P&C Insurance — Non-Casualty — Short-tail
This product line represents first party commercial product lines that are short-tailed in nature, such as property, inland marine, ocean marine, surety, and A&H. There is a wide diversity of products, primary and excess coverages, and policy sizes. During this ten-year period, this product line was impacted by natural catastrophes mainly in the 2017 and 2018 accident years, and in accident year 2020 by direct COVID.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,726 $1,735 $1,641 $1,629 $1,596 $1,581 $1,584 $1,588 $1,586 $1,587 $(1)545 
20161,899 1,879 1,789 1,769 1,805 1,817 1,813 1,815 1,808 13 650 
20172,695 2,599 2,496 2,513 2,504 2,514 2,500 2,490 44 764 
20182,042 2,229 2,165 2,157 2,165 2,156 2,144 — 904 
20192,042 2,027 1,950 1,940 1,917 1,921 12 1,044 
20203,133 2,937 2,721 2,680 2,658 41 1,126 
20212,936 2,820 2,625 2,544 53 865 
20223,042 2,941 2,806 155 904 
20233,066 2,876 460 965 
20243,583 1,561 853 
Total$24,417 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$723 $1,336 $1,480 $1,548 $1,564 $1,566 $1,579 $1,579 $1,579 $1,583 
2016842 1,495 1,646 1,721 1,748 1,772 1,783 1,784 1,791 
2017975 2,080 2,295 2,385 2,399 2,422 2,442 2,445 
20181,023 1,817 2,008 2,064 2,108 2,132 2,135 
20191,026 1,669 1,796 1,853 1,879 1,894 
20201,386 2,256 2,462 2,541 2,575 
20211,084 2,098 2,319 2,438 
20221,048 2,186 2,491 
20231,217 2,131 
20241,367 
Total$20,850 
North America Commercial P&C Insurance — Non-Casualty — Short-tail (continued)
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$5 
Accident years 2015 - 2024 from tables above3,567 
All Accident years$3,572 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$18 
Accident years 2015 - 2024 from tables above(452)
All Accident years$(434)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage44 %37 %9 %4 %1 %1 %1 %— %— %— %

North America Personal P&C Insurance — Short-tail
Chubb provides personal lines coverages for high-net-worth individuals and families in North America including homeowners, automobile, valuable articles (including fine art), umbrella liability, and recreational marine insurance offered through independent regional agents and brokers. During this ten-year period, this segment was also impacted by natural catastrophes, mainly in the 2017 and 2018 accident years.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$2,482 $2,536 $2,547 $2,530 $2,550 $2,556 $2,553 $2,555 $2,552 $2,561 $19 148 
20162,428 2,523 2,533 2,471 2,459 2,452 2,460 2,462 2,468 16 154 
20173,022 3,057 2,990 2,986 2,986 2,995 3,005 3,006 9 163 
20182,995 3,023 3,089 3,104 3,125 3,114 3,115 20 170 
20192,941 2,979 2,980 2,972 2,951 2,971 47 157 
20202,914 2,622 2,620 2,577 2,577 59 123 
20213,019 2,871 2,958 2,971 147 131 
20223,093 2,947 2,938 277 120 
20233,396 3,065 537 114 
20243,657 1,826 88 
Total$29,329 
North America Personal P&C Insurance — Short-tail (continued)
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$1,491 $2,073 $2,259 $2,380 $2,466 $2,495 $2,520 $2,530 $2,537 $2,533 
20161,446 2,042 2,201 2,303 2,359 2,386 2,417 2,435 2,439 
20171,690 2,509 2,656 2,788 2,858 2,925 2,966 2,978 
20181,918 2,536 2,693 2,851 2,965 3,031 3,066 
20191,660 2,426 2,605 2,712 2,817 2,879 
20201,328 1,985 2,218 2,359 2,433 
20211,581 2,364 2,577 2,695 
20221,406 2,271 2,470 
20231,484 2,241 
20241,449 
Total$25,183 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$36 
Accident years 2015 - 2024 from tables above4,146 
All Accident years$4,182 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(11)
Accident years 2015 - 2024 from tables above(290)
All Accident years$(301)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage53 %25 %7 %4 %3 %2 %1 %— %— %— %
Overseas General Insurance — Casualty — Long-tail
This product line comprises D&O liability, E&O liability, financial institutions (including crime/fidelity coverages), and non-U.S. general liability as well as aviation and political risk. Exposures are located around the world, including Europe, Latin America, and Asia. Approximately 45 percent of Chubb Overseas General business is generated by European accounts, exclusive of Lloyd's market. There is some U.S. exposure in Casualty from multinational accounts and in financial lines for Lloyd's market. The financial lines coverages are typically written on a claims-made form, while general liability coverages are typically on an occurrence basis and comprises a mix of primary and excess businesses.

Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,092 $1,182 $1,209 $1,231 $1,213 $1,159 $1,143 $1,158 $1,158 $1,147 $67 40 
20161,127 1,220 1,282 1,308 1,298 1,306 1,240 1,253 1,265 126 42 
20171,113 1,210 1,256 1,302 1,268 1,303 1,268 1,268 109 43 
20181,208 1,257 1,316 1,357 1,313 1,292 1,289 107 44 
20191,277 1,342 1,362 1,349 1,308 1,227 148 43 
20201,644 1,565 1,485 1,498 1,278 415 35 
20211,579 1,625 1,649 1,653 791 37 
20221,714 1,761 1,932 1,121 38 
20231,862 1,888 1,293 38 
20242,002 1,650 31 
Total$14,949 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$76 $259 $453 $622 $736 $812 $884 $915 $946 $985 
2016117 299 492 632 747 837 956 979 1,006 
201788 292 488 638 796 921 974 1,035 
2018103 305 459 595 711 859 966 
2019114 308 432 634 710 817 
202099 265 417 516 638 
2021108 262 422 590 
202280 277 510 
202377 276 
2024131 
Total$6,954 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$644 
Accident years 2015 - 2024 from tables above7,995 
All Accident years$8,639 
Overseas General Insurance — Casualty — Long-tail (continued)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$75 
Accident years 2015 - 2024 from tables above(102)
All Accident years$(27)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage7 %13 %13 %12 %9 %9 %7 %3 %2 %3 %
Overseas General Insurance — Non-Casualty — Short-tail
This product line comprises commercial fire, marine (predominantly cargo), surety, personal automobile (in Latin America, and Asia), personal cell phones, personal residential (including high net worth), energy, and construction. In general, these lines have relatively stable payment and reporting patterns although they are impacted by natural catastrophes mainly in the 2017, 2018, and 2022 accident years. For the Chubb Overseas General non-casualty book, Europe, exclusive of Lloyd's market, makes up about one third, Latin America makes up about one quarter, and Asia makes up about one fifth.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,763 $1,877 $1,854 $1,825 $1,809 $1,803 $1,785 $1,785 $1,780 $1,787 $11 556 
20161,867 1,859 1,845 1,824 1,828 1,859 1,857 1,844 1,825 10 568 
20172,018 2,059 2,045 2,028 2,052 2,049 2,016 2,053 38 577 
20181,969 2,054 2,018 1,993 1,962 1,952 1,931 25 613 
20191,990 2,008 1,949 1,937 1,934 1,912 (10)632 
20202,319 2,189 2,067 2,017 1,989 82 534 
20212,407 2,321 2,208 2,185 2 543 
20222,664 2,626 2,535 14 615 
20232,847 2,757 342 615 
20243,141 847 607 
Total$22,115 
Overseas General Insurance — Non-Casualty — Short-tail (continued)
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$764 $1,394 $1,610 $1,685 $1,706 $1,733 $1,750 $1,753 $1,752 $1,757 
2016905 1,506 1,687 1,753 1,776 1,785 1,790 1,794 1,799 
2017955 1,687 1,850 1,920 1,959 2,017 1,994 1,994 
2018905 1,578 1,766 1,829 1,844 1,854 1,861 
2019953 1,576 1,756 1,819 1,851 1,872 
2020979 1,560 1,700 1,811 1,810 
2021920 1,654 1,922 2,005 
20221,090 1,960 2,237 
20231,039 1,861 
20241,141 
Total$18,337 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$129 
Accident years 2015 - 2024 from tables above3,778 
All Accident years$3,907 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(11)
Accident years 2015 - 2024 from tables above(250)
All Accident years$(261)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage44 %33 %10 %4 %1 %1 %— %— %— %— %

Global Reinsurance
Chubb analyzes its Global Reinsurance business on a treaty year basis rather than on an accident year basis. Treaty year data was converted to an accident year basis for the purposes of this disclosure. Mix shifts are an important consideration in these product line groupings. As proportional business and excess of loss business have different earning and loss reporting and payment patterns, this change in mix will affect the cash flow patterns across the accident years. In addition, the shift from excess to proportional business over time will make the cash flow patterns of older and more recent years difficult to compare. In general, the proportional business will pay out more quickly than the excess of loss business, as such, using older years development patterns may overstate the ultimate loss estimates in more recent years.

Global Reinsurance — Casualty — Long-tail
This product line includes proportional and excess coverages in general, automobile liability, professional liability, medical malpractice, and workers' compensation, with exposures located around the world. In general, reinsurance exhibits less stable development patterns than primary business. In particular, general casualty reinsurance and excess coverages are long-tailed and can be very volatile.
Global Reinsurance — Casualty — Long-tail (continued)
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31
 2024
(in millions of U.S. dollars)UnauditedNet
IBNR
Reserves
Accident Year2015201620172018201920202021202220232024
2015$281 $286 $296 $297 $305 $301 $305 $308 $308 $309 $8 
2016219 223 231 230 239 239 244 251 252 10 
2017210 211 216 213 214 214 221 224 7 
2018239 242 249 246 249 256 261 12 
2019233 242 237 237 234 241 27 
2020242 246 237 237 232 30 
2021278 281 286 274 75 
2022294 296 292 116 
2023274 286 170 
2024337 252 
Total$2,708 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$89 $158 $190 $216 $231 $248 $264 $273 $281 $288 
201657 112 141 157 173 190 207 217 228 
201746 99 121 138 153 173 186 196 
201841 95 124 147 168 195 217 
201939 89 115 138 162 182 
202041 98 124 148 168 
202135 87 119 147 
202239 86 122 
202330 69 
202430 
Total$1,647 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$267 
Accident years 2015 - 2024 from tables above1,061 
All Accident years$1,328 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(7)
Accident years 2015 - 2024 from tables above8 
All Accident years$1 
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage17 %20 %11 %9 %7 %8 %7 %4 %3 %2 %
Global Reinsurance — Non-Casualty — Short-tail
This product line includes property, property catastrophe, marine, credit/surety, mortgage, A&H and energy. This product line is impacted by natural catastrophes, particularly in the 2017, 2018, 2020, 2021, 2022, and 2024 accident years. Of the non-catastrophe book, the mixture of business varies by year with approximately 89 percent of loss on proportional treaties in treaty year 2015 and after. This percentage has increased over time with the proportion being approximately 76 percent for treaty years 2015-2017 growing to an average of 94 percent for treaty years 2018 to 2024, with the remainder being written on an excess of loss basis.
Net Incurred Loss and Allocated Loss Adjustment ExpensesAs of December 31
 2024
Years Ended December 31
(in millions of U.S. dollars)UnauditedNet
IBNR
Reserves
Accident Year2015201620172018201920202021202220232024
2015$144 $152 $158 $158 $151 $156 $154 $154 $154 $153 $— 
2016174 179 182 184 181 178 178 178 178 1 
2017394 420 450 448 452 455 454 453 7 
2018276 283 285 281 286 280 277 3 
2019128 126 124 118 114 114 (1)
2020208 252 276 278 278 17 
2021340 350 353 356 21 
2022345 311 290 27 
2023180 175 45 
2024391 193 
Total$2,665 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses

Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$56 $102 $130 $140 $144 $148 $149 $150 $150 $150 
201655 127 153 164 169 173 173 174 175 
2017191 321 399 413 426 433 439 441 
201894 247 262 265 269 272 272 
201935 79 93 101 103 107 
202062 176 214 231 242 
2021157 277 307 320 
202273 194 233 
202336 92 
2024107 
Total$2,139 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$14 
Accident years 2015 - 2024 from tables above526 
All Accident years$540 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$— 
Accident years 2015 - 2024 from tables above(28)
All Accident years$(28)
Global Reinsurance — Non-Casualty — Short-tail (continued)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage32 %38 %13 %4 %3 %2 %1 %— %— %— %

Prior Period Development — Supplementary Information

The following table presents a reconciliation of the loss development triangles above to prior period development (PPD):
Components of PPD
Year Ended December 31, 2024 (in millions of U.S. dollars)
(favorable)/unfavorable		2015 - 2023 accident years (implied PPD per loss triangles)Accident years prior to 2015
Other (1)
PPD on loss reserves RIPs, Expense adjustments, and earned premiumsTotal
North America Commercial P&C Insurance
Long-tail$227 $(86)$(194)$(53)$71 $18 
Short-tail(452)18 (6)(440)(6)(446)
(225)(68)(200)(2)(493)65 (3)(428)
North America Personal P&C Insurance (Short-tail)(290)(11)(4)(305)— (305)
Overseas General Insurance
Long-tail(102)75 1 (26)— (26)
Short-tail(250)(11)(3)(264)— (264)
(352)64 (2)(290)— (290)
Global Reinsurance
Long-tail8 (7)(2)(1)1 — 
Short-tail(28)— — (28)3 (25)
(20)(7)(2)(29)4 (25)
Subtotal$(887)$(22)$(208)$(1,117)$69 $(1,048)
North America Agricultural Insurance (Short-tail)$(170)$66 $(104)
Corporate (Long-tail)296 — 296 
Consolidated PPD$(991)(4)$135 $(856)
(1)        Other includes the impact of foreign exchange.
(2)     Includes favorable development of $39 million related to our Alternative Risk Solutions business (U.S. and Bermuda) and an adjustment to exclude $89 million in unfavorable development in the workers' compensation line, associated with an increase in exposure for which additional premiums were collected; the remaining difference relates to a number of other items, none of which are individually material.
(3)     Includes premium returns associated with our Alternative Risk Solutions business, which is excluded from the triangles.
(4)     Includes favorable development of $16 million related to long duration International A&H business.
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:
Years Ended December 31
(in millions of U.S. dollars, except for percentages)		Long-tailShort-tailTotal
% of beginning net unpaid reserves (1)
2024
North America Commercial P&C Insurance$18 $(446)$(428)0.7 %
North America Personal P&C Insurance— (305)(305)0.5 %
North America Agricultural Insurance— (104)(104)0.2 %
Overseas General Insurance(26)(264)(290)0.5 %
Global Reinsurance— (25)(25)— %
Corporate296 — 296 0.5 %
Total$288 $(1,144)$(856)1.4 %
2023
North America Commercial P&C Insurance$(86)$(408)$(494)0.8 %
North America Personal P&C Insurance— (134)(134)0.2 %
North America Agricultural Insurance— (18)(18)— %
Overseas General Insurance(50)(326)(376)0.6 %
Global Reinsurance7 (35)(28)— %
Corporate277 — 277 0.5 %
Total$148 $(921)$(773)1.3 %
2022
North America Commercial P&C Insurance$(229)$(333)$(562)1.0 %
North America Personal P&C Insurance— (186)(186)0.3 %
North America Agricultural Insurance— (61)(61)0.1 %
Overseas General Insurance(65)(383)(448)0.8 %
Global Reinsurance(7)29 22 — %
Corporate 359 — 359 0.6 %
Total$58 $(934)$(876)1.6 %
(1)     Calculated based on the beginning of period consolidated net unpaid losses and loss expenses.

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 in 2024 included $446 million from short-tail lines, primarily property, marine and surety, driven by lower-than-expected loss development in the most recent accident years. Long-tail lines experienced adverse development, which was the net of adverse development in casualty lines, predominantly commercial excess and umbrella and commercial auto liability, due to higher-than-expected development, mainly offset by favorable development in workers' compensation due to lower-than-expected loss experience and our annual assessment of multi-claimant events, including industrial accidents.

Net favorable development in 2023 included $408 million from short-tail lines, primarily commercial property and marine lines, and surety lines, all mainly driven by lower-than-expected loss emergence. Net favorable development in 2023 also included $86 million from long-tail lines, primarily from workers' compensation lines due to lower-than-expected loss emergence, partially offset by adverse development in commercial excess and umbrella lines, and commercial auto liability, both driven by higher-than-expected loss emergence.
North America Personal P&C Insurance.
Net favorable development in 2024 and 2023 was predominantly in homeowners lines, mainly due to lower-than-expected loss experience in the most recent accident years.

North America Agricultural Insurance.
Net favorable development in 2024 was driven by multi-peril crop insurance results for crop year 2023.

Overseas General Insurance.
Net favorable development in 2024 included $264 million in short-tail lines, primarily in property and marine lines, mainly in accident years 2019 through 2023, driven by favorable loss development across all regions and specific case reductions. Net favorable development in 2024 also included $26 million in long-tail lines, primarily in financial lines due to favorable loss emergence in accident years 2019 and 2020.

Net favorable development in 2023 included $326 million in short-tail lines, primarily in property and marine lines, mainly in accident years 2020 through 2022, driven by favorable loss development across all regions, favorable catastrophe development in recent accident years, and specific case reductions. Net favorable development also included $50 million in long-tail lines, primarily in professional lines, including cyber, driven by favorable loss development in the U.K. and Europe regions.

Corporate.
Net adverse development in 2024, 2023, and 2022, included adverse development for asbestos, environmental, molestation claims and other exposures.

Molestation claims
Chubb's exposure to molestation claims principally arises out of liabilities acquired when it purchased CIGNA's P&C business in 1999, and Chubb Corp in 2016. The vast majority of the current liability relates to exposure from "reviver" legislation in certain states that allow civil claims relating to molestation to be asserted against policyholders that would otherwise be barred by statutes of limitations. These exposures are predominantly included in our inactive run-off operations included in Corporate with an immaterial amount in the North America Commercial P&C segment.

In December 2021, Chubb reached an agreement-in-principle regarding the bankruptcy of the Boy Scouts of America (BSA). Under this agreement, which remains contingent upon final court approval following exhaustion of all appeals, our inactive run-off company, Century Indemnity Company, and certain active Chubb companies obtained a broad release for all Chubb companies from BSA-related abuse claims for $800 million. This agreement was approved by the bankruptcy court in the third quarter of 2022. In the first quarter of 2023, the District Court issued an order approving the Boy Scouts of America (BSA) bankruptcy plan in full; however, appeals were subsequently filed. We paid $800 million per the agreement, with $300 million paid in 2022, and the remaining $500 million paid in 2023.
Asbestos and environmental (A&E)
Chubb's exposure to A&E claims principally arises out of liabilities acquired when it purchased Westchester Specialty in 1998, CIGNA's P&C business in 1999, and Chubb Corp in 2016. The following table presents a roll-forward of consolidated A&E loss reserves including allocated loss expense reserves for A&E exposures, and the valuation allowance for uncollectible paid and unpaid reinsurance recoverables:
AsbestosEnvironmentalTotal
(in millions of U.S. dollars)GrossNetGrossNetGrossNet
Balance at December 31, 2021$1,226 $800 $402 $302 $1,628 $1,102 
Incurred activity87 55 125 77 212 132 (1)
Paid activity(215)(152)(115)(69)(330)(221)
Balance at December 31, 20221,098 703 412 310 1,510 1,013 
Incurred activity180 120 88 63 268 183 (1)
Paid activity(258)(169)(105)(82)(363)(251)
Balance at December 31, 20231,020 654 395 291 1,415 945 
Incurred activity176 126 74 47 250 173 (1)
Paid activity(232)(172)(90)(61)(322)(233)
Balance at December 31, 2024$964 $608 $379 $277 $1,343 $885 
(1)    Excludes unallocated loss expenses and the net activity reflects third-party reinsurance other than the aggregate excess of loss reinsurance provided by National Indemnity Company (NICO) to Westchester Specialty (see Westchester Specialty section below).

The A&E net loss reserves including allocated loss expense reserves and valuation allowance for uncollectible reinsurance at December 31, 2024 and 2023, shown in the table above comprises:
December 31
(in millions of U.S. dollars)20242023
Brandywine operations$502 $570 
Westchester Specialty86 89 
Chubb Corp258 241 
Other, mainly Overseas General Insurance39 45 
Total$885 $945 

Brandywine Run-off entities – The Restructuring Plan and uncertainties relating to Chubb's ultimate Brandywine exposure

In 1996, the Pennsylvania Insurance Commissioner approved a plan to restructure INA Financial Corporation and its subsidiaries (the Restructuring) which included the division of Insurance Company of North America (INA) into two separate corporations:

(1) An active insurance company that retained the INA name and continued to write P&C business; and
(2) An inactive run-off company, now called Century Indemnity Company (Century).

As a result of the division, predominantly all A&E and certain other liabilities of INA were ascribed to Century and extinguished, as a matter of Pennsylvania law, as liabilities of INA.

As part of the Restructuring, most A&E liabilities of various U.S. affiliates of INA were reinsured to Century. Century and certain other run-off companies having A&E and other liabilities were contributed to Brandywine Holdings.

The U.S.-based Chubb INA companies assumed two contractual obligations in respect of the Brandywine operations in connection with the Restructuring: a surplus maintenance obligation in the form of the excess of loss (XOL) agreement and a dividend retention fund obligation.
XOL Agreement
In 1996, in connection with the Restructuring, a Chubb INA insurance subsidiary provided reinsurance coverage to Century in the amount of $800 million under an Aggregate Excess of Loss Reinsurance Agreement (XOL Agreement), triggerable if the statutory capital and surplus of Century falls below $25 million or if Century lacks liquid assets with which to pay claims as they become due.

Dividend Retention Fund
INA Financial Corporation established and funded a dividend retention fund (the Dividend Retention Fund) consisting of $50 million plus investment earnings. The full balance of the Dividend Retention Fund was contributed to Century as of December 31, 2002. Under the Restructuring Order, while any obligation to maintain the Dividend Retention Fund is in effect, to the extent dividends are paid by INA Holdings Corporation to its parent, INA Financial Corporation, and to the extent INA Financial Corporation then pays such dividends to INA Corporation, a portion of those dividends must be withheld to replenish the principal of the Dividend Retention Fund to $50 million. In 2024 and 2023, $93 million and $75 million, respectively, was withheld from such dividends and deposited into the Dividend Retention Fund as a result of dividends paid up to the INA Corporation. Pursuant to a 2011 amendment to the Restructuring Order, capital contributions from the Dividend Retention Fund to Century are not required until the XOL Agreement has less than $200 million of capacity remaining on an incurred basis for statutory reporting purposes. The amount of the required capital contribution shall be the lesser of the amount necessary to restore the XOL Agreement remaining capacity to $200 million or the Dividend Retention Fund balance. In 2024 and 2023, capital contributions of $93 million and $75 million were made, respectively, from the Dividend Retention Fund to Century. The Dividend Retention Fund may not be terminated without prior written approval from the Pennsylvania Insurance Commissioner.

In 2004, Chubb INA contributed $100 million to Century in exchange for a surplus note. After giving effect to the surplus note, contributions from the Dividend Retention Fund, results from operations and other items impacting statutory surplus, the statutory surplus of Century at December 31, 2024, was $25 million and $764 million in statutory-basis losses have been ceded to the XOL Agreement on an inception-to-date basis. The XOL Agreement statutory-basis remaining limit at December 31, 2024, is $36 million. Century reports the amount ceded under the XOL Agreement in accordance with statutory accounting principles, which differ from U.S. GAAP by, among other things, allowing Century to discount its liabilities, including certain asbestos related and environmental pollution liabilities and Century's reinsurance payable to active companies. For U.S. GAAP reporting purposes, intercompany reinsurance recoverables related to the XOL are eliminated upon consolidation.

While Chubb believes it has no legal obligation to fund Century losses above the XOL limit of coverage, Chubb's consolidated results would nevertheless continue to include any losses above the limit of coverage for so long as the Brandywine companies remain consolidated subsidiaries of Chubb.

Certain active Chubb companies are primarily liable for asbestos, environmental, and other exposures that they have reinsured to Century. Accordingly, if Century were to become insolvent and placed into rehabilitation or liquidation, some or all of the recoverables due to these active Chubb companies from Century could become uncollectible. At December 31, 2024 and 2023, the aggregate reinsurance recoverables owed by Century to certain active Chubb companies were approximately $1.9 billion and $1.8 billion, respectively, on an undiscounted basis. Chubb believes the active company intercompany reinsurance recoverables, which relate to direct liabilities payable over many years, are not impaired. At December 31, 2024 and 2023, Century's carried gross reserves (including reserves assumed from the active Chubb companies) were $1.6 billion and $1.7 billion, respectively. Changes in laws and regulations may have an adverse effect on Century's reserves; for example, the enactment of "reviver" statutes relating to claims of sexual molestation may give rise to additional claims that would have been barred by the statutes of limitations in effect at the time of the alleged molestation. Should Century's loss reserves experience adverse development, as a result of such changes or otherwise, in the future and should Century be placed into rehabilitation or liquidation, the reinsurance recoverables due from Century to certain active Chubb companies would be payable only after the payment in full of certain expenses and liabilities, including administrative expenses and direct policy liabilities. Thus, the intercompany reinsurance recoverables would be at risk to the extent of the shortage of assets remaining to pay these recoverables.

Westchester Specialty – impact of NICO contracts on Chubb’s run-off entities

As part of the Westchester Specialty acquisition in 1998, NICO provided a 75 percent pro-rata share of $1.0 billion of reinsurance protection on losses and loss adjustment expenses incurred on or before December 31, 1996, in excess of a retention of $721 million. At December 31, 2024, the remaining unused incurred limit under the Westchester NICO agreement was $332 million.
Future policy benefits
The following tables present a roll-forward of the liability for future policy benefits included in the Life Insurance segment:

Present Value of Expected Net PremiumsFor the Year Ended December 31, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$1,590 $3,950 $10,432 $64 $16,036 
Beginning balance at original discount rate1,992 3,945 10,692 64 16,693 
Effect of changes in cash flow assumptions(141)178 417 (4)450 
Effect of actual variances from expected experience11 (2)(139)— (130)
Adjusted beginning of period balance1,862 4,121 10,970 60 17,013 
Issuances221 1,211 2,162 86 3,680 
Interest accrual58 128 540 5 731 
Net premiums collected (1)
(242)(1,086)(1,483)(40)(2,851)
Other (including foreign exchange)(80)(71)(690)13 (828)
Ending balance at original discount rate1,819 4,303 11,499 124 17,745 
Effect of changes in discount rate assumptions(296)102 127 1 (66)
Balance – end of period$1,523 $4,405 $11,626 $125 $17,679 
(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.

Present Value of Expected Future Policy BenefitsFor the Year Ended December 31, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $2,254 $10,063 $14,650 $495 $27,462 
Beginning balance at original discount rate2,749 9,991 15,071 492 28,303 
Effect of changes in cash flow assumptions(141)205 373 (5)432 
Effect of actual variances from expected experience20 11 (141)— (110)
Adjusted beginning of period balance2,628 10,207 15,303 487 28,625 
Issuances221 1,211 2,162 86 3,680 
Interest accrual76 331 668 17 1,092 
Benefits payments(224)(340)(1,594)(18)(2,176)
Other (including foreign exchange)(54)(167)(887)29 (1,079)
Ending balance at original discount rate2,647 11,242 15,652 601 30,142 
Effect of changes in discount rate assumptions(409)815 41 46 493 
Balance – end of period$2,238 $12,057 $15,693 $647 $30,635 
Liability for Future Policy Benefits, Life Insurance SegmentDecember 31, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$715 $7,652 $4,067 $522 $12,956 
Deferred profit liability279 1,210 196 39 1,724 
Net liability for future policy benefits, before reinsurance recoverable994 8,862 4,263 561 14,680 
Less: Reinsurance recoverable on future policy benefits108 47 113 1 269 
Net liability for future policy benefits, after reinsurance recoverable$886 $8,815 $4,150 $560 $14,411 
Weighted average duration (years)10.427.89.818.621.3

Present Value of Expected Net PremiumsFor the Year Ended December 31, 2023
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $1,806 $2,308 $10,711 $42 $14,867 
Beginning balance at original discount rate1,867 2,361 11,258 43 15,529 
Effect of changes in cash flow assumptions22 40 (820)2 (756)
Effect of actual variances from expected experience(9)88 (84)— (5)
Adjusted beginning of period balance1,880 2,489 10,354 45 14,768 
Consolidation of Huatai Group3 1,690 145 12 1,850 
Issuances190 318 1,653 9 2,170 
Interest accrual71 87 531 2 691 
Net premiums collected (1)
(255)(585)(1,457)(23)(2,320)
Other (including foreign exchange)103 (54)(534)19 (466)
Ending balance at original discount rate1,992 3,945 10,692 64 16,693 
Effect of changes in discount rate assumptions(402)5 (260)— (657)
Balance – end of period$1,590 $3,950 $10,432 $64 16,036 
(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.
Present Value of Expected Future Policy BenefitsFor the Year Ended December 31, 2023
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$2,321 $5,696 $15,038 $269 $23,324 
Beginning balance at original discount rate2,447 5,874 15,855 280 24,456 
Effect of changes in cash flow assumptions15 44 (858)4 (795)
Effect of actual variances from expected experience(4)98 (78)(1)15 
Adjusted beginning of period balance2,458 6,016 14,919 283 23,676 
Consolidation of Huatai Group17 3,659 163 233 4,072 
Issuances190 318 1,653 9 2,170 
Interest accrual90 252 672 9 1,023 
Benefits payments(238)(333)(1,551)(13)(2,135)
Other (including foreign exchange)232 79 (785)(29)(503)
Ending balance at original discount rate2,749 9,991 15,071 492 28,303 
Effect of changes in discount rate assumptions(495)72 (421)3 (841)
Balance – end of period$2,254 $10,063 $14,650 $495 $27,462 


Liability for Future Policy Benefits, Life Insurance SegmentDecember 31, 2023
(in millions of U.S. dollars, except for years)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$664 $6,113 $4,218 $431 $11,426 
Deferred profit liability267 804 165 17 1,253 
Net liability for future policy benefits, before reinsurance recoverable931 6,917 4,383 448 12,679 
Less: Reinsurance recoverable on future policy benefits82 45 106 — 233 
Net liability for future policy benefits, after reinsurance recoverable$849 $6,872 $4,277 $448 $12,446 
Weighted average duration (years)10.525.810.415.019.4
The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.

December 31
(in millions of U.S. dollars)20242023
Net liability for future policy benefits, Life Insurance segment$12,956 $11,426 
Other (1)
1,441 1,209 
Deferred profit liability1,724 1,253 
Liability for future policy benefits, per consolidated balance sheet$16,121 $13,888 
(1)Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.


In the third quarter of 2024 and 2023, we completed our annual review of cash flow assumptions resulting in immaterial changes to the liability for future policy benefits.

The following table presents the amount of undiscounted and discounted expected gross premiums and expected future policy benefit payments included in the Life Insurance segment:
December 31December 31
(in millions of U.S. dollars)20242023
Term Life
Undiscounted expected future benefit payments$4,141 $4,073 
Undiscounted expected future gross premiums6,508 7,075 
Discounted expected future benefit payments
2,238 2,254 
Discounted expected future gross premiums
4,400 4,703 
Whole Life
Undiscounted expected future benefit payments28,263 23,990 
Undiscounted expected future gross premiums10,346 9,469 
Discounted expected future benefit payments
12,057 10,063 
Discounted expected future gross premiums
8,452 7,658 
A&H
Undiscounted expected future benefit payments26,584 25,118 
Undiscounted expected future gross premiums38,826 36,869 
Discounted expected future benefit payments
15,693 14,650 
Discounted expected future gross premiums
23,133 22,150 
Other
Undiscounted expected future benefit payments1,126 862 
Undiscounted expected future gross premiums242 115 
Discounted expected future benefit payments
647 495 
Discounted expected future gross premiums
$216 $103 
The following table presents the amount of revenue and interest recognized in the Consolidated statement of operations for the Life Insurance segment:
Gross Premiums or AssessmentsInterest Accretion
For the Years EndedFor the Years Ended
December 31December 31
(in millions of U.S. dollars)202420232022202420232022
Life Insurance
Term Life$684 $641 $472 $18 $19 $12 
Whole Life1,962 1,259 651 203 165 121 
A&H3,016 2,918 1,875 128 141 92 
Other67 28 17 12 7 3 
Total$5,729 $4,846 $3,015 $361 $332 $228 

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

Interest Accretion RateCurrent Discount Rate
December 31December 31
202420232022202420232022
Life Insurance
Term Life3.0 %2.8 %2.5 %5.4 %5.2 %5.6 %
Whole Life3.3 %3.2 %3.9 %4.1 %4.6 %5.4 %
A&H3.9 %3.7 %3.6 %5.8 %6.2 %6.3 %
Other2.8 %2.6 %3.7 %3.8 %4.1 %5.6 %
v3.25.0.1
Policyholders' account balances, Separate accounts, and Unearned revenue liabilities
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Policyholders' Account Balances, Separate Accounts, and Unearned Revenue Liability Policyholders' account balances, Separate accounts, and Unearned revenue liabilities
Policyholders' account balances
The following tables present a roll-forward of policyholders' account balances:
For the Year Ended December 31, 2024
(in millions of U.S. dollars)Universal Life
Annuities (2)
Other (3)
Total
Balance – beginning of period$1,876 $2,411 $2,502 $6,789 
Premiums received 276 339 413 1,028 
Policy charges (1)
(136)— (11)(147)
Surrenders and withdrawals(122)(39)(278)(439)
Benefit payments (4)
(60)(139)(78)(277)
Interest credited50 41 68 159 
Other (including foreign exchange)(75)(28)(262)(365)
Balance – end of period$1,809 $2,585 $2,354 $6,748 
Unearned revenue liability711 
Other (5)
557 
Policyholders' account liability, per consolidated balance sheet$8,016 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
(2)Relates to Huatai Life.
(3)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
(4)Includes benefit payments upon maturity as well as death benefits.
(5)Primarily comprises unpaid dividends on certain participating policies.

For the Year Ended December 31, 2023
(in millions of U.S. dollars)Universal Life
Annuities (2)
Other (3)
Total
Balance – beginning of period$1,199 $— $1,374 $2,573 
Consolidation of Huatai Group602 2,325 1,087 4,014 
Premiums received 268 133 231 632 
Policy charges (1)
(132)— (10)(142)
Surrenders and withdrawals(115)(19)(192)(326)
Benefit payments (4)
(12)(58)(62)(132)
Interest credited43 31 39 113 
Other (including foreign exchange)23 (1)35 57 
Balance – end of period$1,876 $2,411 $2,502 $6,789 
Unearned revenue liability673 
Policyholders' account liability, per consolidated balance sheet$7,462 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
(2)Relates to Huatai Life.
(3)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
(4)Includes benefit payments upon maturity as well as death benefits.
December 31
20242023
(in millions of U.S. dollars, except for percentages)Universal LifeAnnuitiesOtherUniversal LifeAnnuitiesOther
Weighted-average crediting rate (1)
2.8 %1.7 %3.0 %3.0 %2.6 %1.9 %
Net amount at risk (2)
$12,369 $— $425 $11,828 $— $559 
Cash Surrender Value$1,649 $1,678 $2,060 $1,628 $1,526 $2,192 
(1)Calculated using actual interest credited for the twelve months ended December 31, 2024 and 2023, respectively.
(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.



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

Universal Life
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$427 $— $46 $114 $587 
 2.01% – 4.00%
245 615 349 — 1,209 
Greater than 4.00%
13 — — — 13 
Total$685 $615 $395 $114 $1,809 


December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$475 $— $29 $36 $540 
 2.01% – 4.00%
82 319 894 19 1,314 
Greater than 4.00%
22 — — — 22 
Total$579 $319 $923 $55 $1,876 
Annuities
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$80 $— $1,628 $46 $1,754 
 2.01% – 4.00%
831 — — — 831 
Greater than 4.00%
— — — — — 
Total$911 $— $1,628 $46 $2,585 

December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$723 $— $1,579 $— $2,302 
 2.01% – 4.00%
109 — — — 109 
Greater than 4.00%
— — — — — 
Total$832 $— $1,579 $— $2,411 

Other policyholders' account balances
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$367 $6 $182 $431 $986 
 2.01% – 4.00%
1,318 50 — — 1,368 
Greater than 4.00%
— — — — — 
Total$1,685 $56 $182 $431 $2,354 

December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$782 $— $228 $546 $1,556 
 2.01% – 4.00%
373 540 28 — 941 
Greater than 4.00%
5 — — — 5 
Total$1,160 $540 $256 $546 $2,502 
Separate accounts

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

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

December 31
(in millions of U.S. dollars)20242023
Cash and cash equivalents $234 $65 
Mutual funds 5,931 5,417 
Fixed maturities66 91 
Total$6,231 $5,573 

The following table presents a roll-forward of separate account liabilities:
For the Years Ended
December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period$5,573 $5,190 
Premiums and deposits1,629 995 
Policy charges(158)(138)
Surrenders and withdrawals(910)(601)
Benefit payments(430)(381)
Investment performance630 611 
Other (including foreign exchange)(103)(103)
Balance – end of period$6,231 $5,573 
Cash surrender value (1)
$5,853 $5,398 
(1) Cash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges.

Unearned revenue liabilities

Unearned revenue liabilities represent policy charges for services to be provided in future periods. The charges are reflected as deferred revenue and are generally amortized into income over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:
For the Years Ended December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period$673 $567 
Deferred revenue144 134 
Amortization(73)(67)
Other (including foreign exchange)(33)39 
Balance – end of period$711 $673 
Market risk benefits
Our reinsurance programs covering variable annuity guarantees, comprising guaranteed living benefits (GLB) and guaranteed minimum death benefits (GMDB), meet the definition of Market risk benefits (MRB). The following table presents a roll-forward of MRB:

For the Years Ended December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period $771 $800 
Balance, beginning of period, before effect of changes in the instrument-specific credit risk749 776 
Interest rate changes(130)26 
Effect of market movements (1)
(125)(195)
Effect of changes in volatilities1 20 
Actual policyholder behavior different from expected behavior55 18 
Effect of changes in future expected policyholder behavior87 89 
Effect of timing and all other(45)15 
Balance, end of period, before effect of changes in the instrument-specific credit risk$592 $749 
Effect of changes in the instrument-specific credit risk15 22 
Balance – end of period$607 $771 
Weighted-average age of policyholders (years)7474
Net amount at risk (2)
$1,520 $1,872 
(1)Market movements are predominantly driven by changes in equities.
(2)The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.
    
Excluded from the table above are MRB gains (losses) of $(297) million and $(334) million for the years ended December 31, 2024 and 2023, respectively, reported in the Consolidated statements of operations, relating to the market risk benefits' economic hedge and other net cash flows. There is no reinsurance recoverable associated with our liability for MRB.

In the third quarter of 2024, we completed a review of policyholder behavior related to annuitizations, partial withdrawals, lapses, and mortality for our variable annuity reinsurance business. These refinements resulted in a net increase of approximately $87 million to the MRB fair value, recognized as a Market risk benefits loss.

•We refreshed our partial withdrawal and annuitization assumptions to include an additional year of experience. The annuitization updates included treaty-based and age-based behavior.
•We updated the lapse assumptions to include an additional year of experience and refined the lapse rates for policies with guaranteed values far in excess of their account values.
•We updated the mortality assumptions to include an additional year of experience.

For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.
Valuation TechniqueSignificant Unobservable Inputs
December 31, 2024
December 31, 2023
Ranges
Weighted Average(1)
Ranges
Weighted Average(1)
MRB (1)
Actuarial modelLapse rate
0.5% – 27.3%
3.4 %
0.5% – 30.0%
4.0 %
Annuitization rate
0% – 100%
4.5 %
0% – 100%
4.5 %
(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

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

A lapse rate is the percentage of in-force policies surrendered in a given calendar year. All else equal, as lapse rates increase, ultimate claim payments will decrease. In general, the base lapse function assumes low lapse rates during the surrender charge period, followed by a "spike" lapse rate in the year immediately following the surrender charge period, and then reverting to an ultimate lapse rate, typically over a 2-year period. This base rate is adjusted downward for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Partial withdrawals and the impact of older policyholders with tax-qualified contracts (due to required minimum distributions) are also reflected in our modeling.

The GLB annuitization rate is the percentage of policies for which the policyholder will elect to annuitize using the guaranteed benefit provided under the GLB. All else equal, as GLB annuitization rates increase, ultimate claim payments will increase, subject to treaty claim limits. All GLB reinsurance treaties include claim limits to protect Chubb in the event that actual annuitization behavior is significantly higher than expected. In general, Chubb assumes that GLB annuitization rates will be higher for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Chubb also assumes that GLB annuitization rates increase as policyholders get older. In addition, it is also assumed that GLB annuitization rates are higher in the first year immediately following the waiting period (the first year the policies are eligible to annuitize using the GLB) in comparison to all subsequent years. Chubb does not yet have fully credible annuitization experience for all clients.

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. For treaties with limited experience, rates are established 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.
v3.25.0.1
Market risk benefits
 12 Months Ended
Dec. 31, 2024
Market Risk Benefit [Abstract]  
Market Risk Benefits Policyholders' account balances, Separate accounts, and Unearned revenue liabilities
Policyholders' account balances
The following tables present a roll-forward of policyholders' account balances:
For the Year Ended December 31, 2024
(in millions of U.S. dollars)Universal Life
Annuities (2)
Other (3)
Total
Balance – beginning of period$1,876 $2,411 $2,502 $6,789 
Premiums received 276 339 413 1,028 
Policy charges (1)
(136)— (11)(147)
Surrenders and withdrawals(122)(39)(278)(439)
Benefit payments (4)
(60)(139)(78)(277)
Interest credited50 41 68 159 
Other (including foreign exchange)(75)(28)(262)(365)
Balance – end of period$1,809 $2,585 $2,354 $6,748 
Unearned revenue liability711 
Other (5)
557 
Policyholders' account liability, per consolidated balance sheet$8,016 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
(2)Relates to Huatai Life.
(3)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
(4)Includes benefit payments upon maturity as well as death benefits.
(5)Primarily comprises unpaid dividends on certain participating policies.

For the Year Ended December 31, 2023
(in millions of U.S. dollars)Universal Life
Annuities (2)
Other (3)
Total
Balance – beginning of period$1,199 $— $1,374 $2,573 
Consolidation of Huatai Group602 2,325 1,087 4,014 
Premiums received 268 133 231 632 
Policy charges (1)
(132)— (10)(142)
Surrenders and withdrawals(115)(19)(192)(326)
Benefit payments (4)
(12)(58)(62)(132)
Interest credited43 31 39 113 
Other (including foreign exchange)23 (1)35 57 
Balance – end of period$1,876 $2,411 $2,502 $6,789 
Unearned revenue liability673 
Policyholders' account liability, per consolidated balance sheet$7,462 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
(2)Relates to Huatai Life.
(3)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
(4)Includes benefit payments upon maturity as well as death benefits.
December 31
20242023
(in millions of U.S. dollars, except for percentages)Universal LifeAnnuitiesOtherUniversal LifeAnnuitiesOther
Weighted-average crediting rate (1)
2.8 %1.7 %3.0 %3.0 %2.6 %1.9 %
Net amount at risk (2)
$12,369 $— $425 $11,828 $— $559 
Cash Surrender Value$1,649 $1,678 $2,060 $1,628 $1,526 $2,192 
(1)Calculated using actual interest credited for the twelve months ended December 31, 2024 and 2023, respectively.
(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.



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

Universal Life
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$427 $— $46 $114 $587 
 2.01% – 4.00%
245 615 349 — 1,209 
Greater than 4.00%
13 — — — 13 
Total$685 $615 $395 $114 $1,809 


December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$475 $— $29 $36 $540 
 2.01% – 4.00%
82 319 894 19 1,314 
Greater than 4.00%
22 — — — 22 
Total$579 $319 $923 $55 $1,876 
Annuities
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$80 $— $1,628 $46 $1,754 
 2.01% – 4.00%
831 — — — 831 
Greater than 4.00%
— — — — — 
Total$911 $— $1,628 $46 $2,585 

December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$723 $— $1,579 $— $2,302 
 2.01% – 4.00%
109 — — — 109 
Greater than 4.00%
— — — — — 
Total$832 $— $1,579 $— $2,411 

Other policyholders' account balances
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$367 $6 $182 $431 $986 
 2.01% – 4.00%
1,318 50 — — 1,368 
Greater than 4.00%
— — — — — 
Total$1,685 $56 $182 $431 $2,354 

December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$782 $— $228 $546 $1,556 
 2.01% – 4.00%
373 540 28 — 941 
Greater than 4.00%
5 — — — 5 
Total$1,160 $540 $256 $546 $2,502 
Separate accounts

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

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

December 31
(in millions of U.S. dollars)20242023
Cash and cash equivalents $234 $65 
Mutual funds 5,931 5,417 
Fixed maturities66 91 
Total$6,231 $5,573 

The following table presents a roll-forward of separate account liabilities:
For the Years Ended
December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period$5,573 $5,190 
Premiums and deposits1,629 995 
Policy charges(158)(138)
Surrenders and withdrawals(910)(601)
Benefit payments(430)(381)
Investment performance630 611 
Other (including foreign exchange)(103)(103)
Balance – end of period$6,231 $5,573 
Cash surrender value (1)
$5,853 $5,398 
(1) Cash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges.

Unearned revenue liabilities

Unearned revenue liabilities represent policy charges for services to be provided in future periods. The charges are reflected as deferred revenue and are generally amortized into income over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:
For the Years Ended December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period$673 $567 
Deferred revenue144 134 
Amortization(73)(67)
Other (including foreign exchange)(33)39 
Balance – end of period$711 $673 
Market risk benefits
Our reinsurance programs covering variable annuity guarantees, comprising guaranteed living benefits (GLB) and guaranteed minimum death benefits (GMDB), meet the definition of Market risk benefits (MRB). The following table presents a roll-forward of MRB:

For the Years Ended December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period $771 $800 
Balance, beginning of period, before effect of changes in the instrument-specific credit risk749 776 
Interest rate changes(130)26 
Effect of market movements (1)
(125)(195)
Effect of changes in volatilities1 20 
Actual policyholder behavior different from expected behavior55 18 
Effect of changes in future expected policyholder behavior87 89 
Effect of timing and all other(45)15 
Balance, end of period, before effect of changes in the instrument-specific credit risk$592 $749 
Effect of changes in the instrument-specific credit risk15 22 
Balance – end of period$607 $771 
Weighted-average age of policyholders (years)7474
Net amount at risk (2)
$1,520 $1,872 
(1)Market movements are predominantly driven by changes in equities.
(2)The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.
    
Excluded from the table above are MRB gains (losses) of $(297) million and $(334) million for the years ended December 31, 2024 and 2023, respectively, reported in the Consolidated statements of operations, relating to the market risk benefits' economic hedge and other net cash flows. There is no reinsurance recoverable associated with our liability for MRB.

In the third quarter of 2024, we completed a review of policyholder behavior related to annuitizations, partial withdrawals, lapses, and mortality for our variable annuity reinsurance business. These refinements resulted in a net increase of approximately $87 million to the MRB fair value, recognized as a Market risk benefits loss.

•We refreshed our partial withdrawal and annuitization assumptions to include an additional year of experience. The annuitization updates included treaty-based and age-based behavior.
•We updated the lapse assumptions to include an additional year of experience and refined the lapse rates for policies with guaranteed values far in excess of their account values.
•We updated the mortality assumptions to include an additional year of experience.

For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.
Valuation TechniqueSignificant Unobservable Inputs
December 31, 2024
December 31, 2023
Ranges
Weighted Average(1)
Ranges
Weighted Average(1)
MRB (1)
Actuarial modelLapse rate
0.5% – 27.3%
3.4 %
0.5% – 30.0%
4.0 %
Annuitization rate
0% – 100%
4.5 %
0% – 100%
4.5 %
(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.

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

A lapse rate is the percentage of in-force policies surrendered in a given calendar year. All else equal, as lapse rates increase, ultimate claim payments will decrease. In general, the base lapse function assumes low lapse rates during the surrender charge period, followed by a "spike" lapse rate in the year immediately following the surrender charge period, and then reverting to an ultimate lapse rate, typically over a 2-year period. This base rate is adjusted downward for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Partial withdrawals and the impact of older policyholders with tax-qualified contracts (due to required minimum distributions) are also reflected in our modeling.

The GLB annuitization rate is the percentage of policies for which the policyholder will elect to annuitize using the guaranteed benefit provided under the GLB. All else equal, as GLB annuitization rates increase, ultimate claim payments will increase, subject to treaty claim limits. All GLB reinsurance treaties include claim limits to protect Chubb in the event that actual annuitization behavior is significantly higher than expected. In general, Chubb assumes that GLB annuitization rates will be higher for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Chubb also assumes that GLB annuitization rates increase as policyholders get older. In addition, it is also assumed that GLB annuitization rates are higher in the first year immediately following the waiting period (the first year the policies are eligible to annuitize using the GLB) in comparison to all subsequent years. Chubb does not yet have fully credible annuitization experience for all clients.

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. For treaties with limited experience, rates are established 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.
v3.25.0.1
Taxation
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Taxation Taxation
Under Swiss law through December 31, 2024, a resident company is subject to income tax at the federal, cantonal, and communal levels that is levied on net worldwide income. Income attributable to permanent establishments or real estate located abroad is excluded from the Swiss tax base. Furthermore, participation relief (i.e., tax relief) is granted to Chubb Limited at the federal, cantonal, and communal level for qualifying dividend income. Chubb Limited is subject to an annual cantonal and communal capital tax on the taxable equity of Chubb Limited in Switzerland.

Chubb has two Swiss operating subsidiaries, an insurance company, Chubb Insurance (Switzerland) Limited and a reinsurance company, Chubb Reinsurance (Switzerland) Limited. Both are subject to federal, cantonal, and communal income tax and to annual cantonal and communal capital tax.

Under Bermuda law, Chubb Limited and its Bermuda subsidiaries are not required to pay any taxes on income or capital gains. However, on December 27, 2023, the Government of Bermuda enacted the Corporate Income Tax Act of 2023 which established a 15 percent income tax on net taxable income of Bermuda entities effective January 1, 2025. Chubb's Bermuda subsidiaries will pay taxes on their income beginning in 2025.

Income from Chubb's operations at Lloyd's is subject to United Kingdom (U.K.) corporation income taxes. Lloyd's is required to pay U.S. income tax on U.S. connected income written by Lloyd's syndicates. Lloyd's has a closing agreement with the Internal Revenue Service (IRS) whereby the amount of tax due on this business is calculated by Lloyd's and remitted directly to the IRS. These amounts are then charged to the accounts of Chubb's Corporate Members in proportion to their participation in the
relevant syndicates. Chubb's Corporate Members are subject to this arrangement but, as U.K. domiciled companies, will receive U.K. corporation tax credits for any U.S. income tax incurred up to the value of the equivalent U.K. corporation income tax charge on this income.

Chubb Group Holdings and its respective subsidiaries are subject to income taxes imposed by U.S. authorities and file a consolidated U.S. Federal income tax return. Should Chubb Group Holdings pay a dividend to Chubb Limited, withholding taxes would apply. Currently, however, no withholding taxes are accrued with respect to such un-remitted earnings as management has no intention of remitting these earnings. Similarly, no taxes have been provided on the un-remitted earnings of certain foreign subsidiaries (Chubb Life Insurance Hong Kong and Chubb Life Insurance Korea Company Ltd.) as management has no intention of remitting these earnings. Finally, we have made a partial reinvestment assertion on historical earnings for LINA Life Insurance Company of Korea and Huatai Insurance Group Co., Ltd. The cumulative amount that would be subject to withholding tax, if distributed, as well as the determination of the associated tax liability are not practicable to compute; however, such amount would be material.

Certain international operations of Chubb are also subject to income taxes imposed by the jurisdictions in which they operate. Chubb's domestic operations are in Switzerland, the jurisdiction where we are legally organized, incorporated, and registered.

The following table presents pre-tax income and the related provision for income taxes:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Pre-tax income:
      Switzerland$121 $44 $234 
      Outside Switzerland11,334 9,482 6,251 
      Total pre-tax income$11,455 $9,526 $6,485 
Provision for income taxes
Current tax expense:
      Switzerland$29 $25 $15 
      Outside Switzerland1,700 1,570 1,066 
      Total current tax expense1,729 1,595 1,081 
Deferred tax expense (benefit):
      Switzerland14 (63)34 
      Outside Switzerland72 (1,021)124 
      Total deferred tax expense (benefit)86 (1,084)158 
Provision for income taxes$1,815 $511 $1,239 

The most significant jurisdictions contributing to the overall taxation of Chubb are calculated using the following rates in 2024: Switzerland 19.7 percent, U.S. 21.0 percent, U.K. 25.0 percent, and Bermuda 0.0 percent.

The following table presents a reconciliation of the difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate:
Year Ended December 31
(in millions of U.S. dollars)20242023 2022 
Expected tax provision at Swiss statutory tax rate$2,251 $1,872 $1,274 
Permanent differences:
Taxes on earnings subject to rate other than Swiss statutory rate(510)(389)(243)
Bermuda tax law enactment(55)(1,135)— 
Net withholding taxes145 15 75 
Other(16)148 133 
Provision for income taxes$1,815 $511 $1,239 
Current income tax receivable of $246 million and $266 million at December 31, 2024 and 2023, respectively, was recorded in Other assets on the Consolidated balance sheets. Current income tax payable of $376 million and $330 million at December 31, 2024 and 2023, respectively, was recorded in Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheets.

The following table presents the components of net deferred tax assets and liabilities:
December 31
(in millions of U.S. dollars)2024 2023 
Deferred tax assets:
Loss reserve discount$1,746 $1,643 
Unearned premiums reserve753 678 
Foreign tax credits18 19 
Loss carry-forwards146 149 
Investments (1)
512 524 
Depreciation26 37 
Future policy benefits176 (42)
Other268 189 
Total deferred tax assets 3,645 3,197 
      Valuation allowance1,081 716
      Deferred tax assets, net of valuation allowance2,564 2,481 
Deferred tax liabilities:
Deferred policy acquisition costs1,005 675 
Other intangible assets, including VOBA1,289 1,444 
Un-remitted foreign earnings251 176 
Total deferred tax liabilities 2,545 2,295 
Net deferred tax assets (liabilities)$19 $186 
(1)Included in Investments are deferred taxes on unrealized depreciation of $787 million and $662 million at December 31, 2024 and 2023, respectively.

The valuation allowance of $1.1 billion and $716 million at December 31, 2024 and 2023, respectively, reflects management's assessment, based on available information, that it is more likely than not that a portion of the deferred tax assets will not be realized due to the inability of certain subsidiaries to generate sufficient taxable income. Adjustments to the valuation allowance are made when there is a change in management's assessment of the amount of deferred tax assets that are realizable.

For the year ended December 31, 2024, the tax benefit on certain unrealized capital losses in our investment portfolio was reduced by a valuation allowance of $633 million necessary due to limitations on the utilization of these losses for tax purposes. As part of evaluating whether it was more likely than not that we could record a tax benefit on these losses, we considered realized gains, carryback capacity and available tax planning strategies.

At December 31, 2024, Chubb has net operating loss carry-forwards of $500 million which, if unused, will expire starting in 2025, and a U.S. life capital loss carry-forward of $26 million which, if unused, will expire starting in 2028.
The following table presents a reconciliation of the beginning and ending amount of gross unrecognized tax benefits:
Year Ended December 31
(in millions of U.S. dollars)2024 2023 
Balance, beginning of year$73 $67 
Additions based on tax positions related to the current year1 — 
Additions based on tax positions related to prior years57 9 
Reductions for settlements with taxing authorities(1)(3)
Balance, end of year$130 $73 

At December 31, 2024 and 2023, the gross unrecognized tax benefits of $130 million and $73 million, respectively, can be reduced by $18 million and $19 million, respectively, associated with foreign tax credits. The net amounts of $112 million and $54 million at December 31, 2024 and 2023, respectively, if recognized, would favorably affect the effective tax rate. It is reasonably possible that over the next twelve months, that the amount of unrecognized tax benefits may change further resulting from the re-evaluation of unrecognized tax benefits arising from examinations by taxing authorities and the lapses of statutes of limitations.

Chubb recognizes accruals for interest and penalties, if any, related to unrecognized tax benefits in Income tax expense in the Consolidated statements of operations. Tax-related interest expense and penalties reported in the Consolidated statements of operations were $6 million, $7 million, and $4 million at December 31, 2024, 2023, and 2022, respectively. Liabilities for tax-related interest and penalties in our Consolidated balance sheets were $30 million and $25 million at December 31, 2024 and 2023, respectively.

In March 2017, the IRS commenced its field examination of Chubb Group Holdings’ U.S. Federal income tax returns for 2014 and 2015 which is still ongoing. In July 2020, the IRS commenced its field examination of Chubb Group Holdings' U.S. Federal income tax returns for 2016, 2017 and 2018 which is also still ongoing. No material adjustments have been proposed by the IRS for any year under examination. As a multinational company, we also have examinations under way in non-US jurisdictions. With few exceptions, Chubb is no longer subject to income tax examinations for years prior to 2012.

The following table summarizes tax years open for examination by major income tax jurisdiction:
At December 31, 2024
Australia2018-2024
Brazil2018-2024
Canada2012-2024
China2021-2024
France 2022-2024
Germany2016-2024
Italy2019-2024
Korea2019-2024
Mexico2016-2024
Spain2012-2024
Switzerland2019-2024
United Kingdom2015-2024
United States2014-2024
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
December 31December 31
(in millions of U.S. dollars)20242023Early Redemption Option
Repurchase agreements
Repurchase agreements (weighted average interest rate of 4.1% in 2024 and 5.4% in 2023)
$1,916$1,824None
Repurchase agreements – VIEs (1) (weighted average interest rate of 2.2% in 2024 and 4.9% in 2023)
8151,009None
Total repurchase agreements$2,731$2,833
Short-term debt
Chubb INA:
$700 million 3.35% senior notes due May 2024
$—$700
Make-whole premium plus 15 bps
€700 million 0.3% senior notes due December 2024
—760
Make-whole premium plus 15 bps
$800 million 3.15% senior notes due March 2025
800—
Make-whole premium plus 15 bps
Total short-term debt
$800$1,460
Long-term debt
Chubb INA:
$800 million 3.15% senior notes due March 2025
$—$799
Make-whole premium plus 15 bps
$1,500 million 3.35% senior notes due May 2026
1,4981,497
Make-whole premium plus 20 bps
€575 million 0.875% senior notes due June 2027
604623
Make-whole premium plus 20 bps
€900 million 1.55% senior notes due March 2028
944974
Make-whole premium plus 15 bps
$100 million 8.875% debentures due August 2029
100100None
$700 million 4.65% senior notes due August 2029
695—
Make-whole premium plus 15 bps
€700 million 0.875% senior notes due December 2029
734758
Make-whole premium plus 20 bps
$1,000 million 1.375% senior notes due September 2030
995994
Make-whole premium plus 15 bps
€575 million 1.4% senior notes due June 2031
601621
Make-whole premium plus 25 bps
$200 million 6.8% debentures due November 2031
227230
Make-whole premium plus 25 bps
$1,600 million 5.0% senior notes due March 2034
1,588—
Make-whole premium plus 15 bps
$300 million 6.7% senior notes due May 2036
298298
Make-whole premium plus 20 bps
$800 million 6.0% senior notes due May 2037
909918
Make-whole premium plus 20 bps
€900 million 2.5% senior notes due March 2038
940971
Make-whole premium plus 25 bps
$600 million 6.5% senior notes due May 2038
710718
Make-whole premium plus 30 bps
$475 million 4.15% senior notes due March 2043
471471
Make-whole premium plus 15 bps
$1,500 million 4.35% senior notes due November 2045
1,4871,486
Make-whole premium plus 25 bps
$600 million 2.85% senior notes due December 2051
594593
Make-whole premium plus 15 bps
$1,000 million 3.05% senior notes due December 2061
984984
Make-whole premium plus 20 bps
Total long-term debt$14,379$13,035
Hybrid debt
Chubb INA capital securities due April 2030$309$308
Redemption prices (2)
Huatai Life CNY 800 million 2.90% capital supplementary bonds due November 2034
110—Redeemable at par in 2029
Total hybrid debt$419$308
(1)Refer to Note 1 g) to the Consolidated Financial Statements for additional information on the consolidation of VIEs.
(2)Redemption prices are equal to accrued and unpaid interest to the redemption date plus the greater of (i) 100 percent of the principal amount thereof, or (ii) sum of present value of scheduled payments of principal and interest on the capital securities from the redemption date to April 1, 2030.
a) Repurchase agreements
Chubb has executed repurchase agreements with certain counterparties under which Chubb agreed to sell securities and repurchase them at a future date for a predetermined price.

On July 1, 2023, Chubb assumed approximately $1.3 billion of repurchase agreements from Huatai Group upon obtaining a controlling interest and applying consolidation accounting. Certain subsidiaries of Huatai Group are the investment manager of, and maintain investments in, consolidated investment products that are considered VIEs. Under the consolidation of VIEs, the underlying assets and liabilities of these sponsored investment products are recorded at 100 percent within the Consolidated balance sheets, with the relevant amounts attributable to investors other than Chubb reflected as Noncontrolling interests. At December 31, 2024 and December 31, 2023, approximately $815 million and $1.0 billion of repurchase agreements were from VIEs, respectively. Refer to Note 1 g) to the Consolidated Financial Statements for additional information.

b) Short-term debt
Short-term debt comprises the current maturities of our long-term debt instruments described below. These short-term debt instruments were reclassified from long-term debt and are reflected in the table above.

c) Long-term debt
With the exception of the $100 million of 8.875 percent debentures due August 2029, which do not have an early redemption option, the senior notes in the table above are redeemable at any time at Chubb INA's option subject to a “make-whole” premium plus additional basis points as defined in the table above. A "make-whole" premium is the present value of the remaining principal and interest discounted at the applicable U.S. Treasury rate. These debt securities are also redeemable at par plus accrued and unpaid interest in the event of certain changes in tax law.

The senior notes and debentures do not have the benefit of any sinking fund, are guaranteed on a senior basis by Chubb Limited, and rank equally with all of Chubb's other senior obligations. They also contain customary limitations on lien provisions as well as customary events of default provisions which, if breached, could result in the accelerated maturity of such senior debt.

d) Hybrid debt

Trust preferred securities
In March 2000, ACE Capital Trust II, a Delaware statutory business trust, publicly issued $300 million of 9.7 percent Capital Securities (the Capital Securities) due to mature in April 2030. At the same time, Chubb INA purchased $9.2 million of common securities of ACE Capital Trust II. The sole assets of ACE Capital Trust II consist of $309 million principal amount of 9.7 percent Junior Subordinated Deferrable Interest Debentures (the Subordinated Debentures) issued by Chubb INA due to mature in April 2030.

Distributions on the Capital Securities are payable semi-annually and may be deferred for up to ten consecutive semi-annual periods (but no later than April 1, 2030). Any deferred payments would accrue interest compounded semi-annually if Chubb INA defers interest on the Subordinated Debentures. Interest on the Subordinated Debentures is payable semi-annually. Chubb INA may defer such interest payments (but no later than April 1, 2030), with such deferred payments accruing interest compounded semi-annually. The Capital Securities and the ACE Capital Trust II Common Securities will be redeemed upon repayment of the Subordinated Debentures.

Chubb Limited has guaranteed, on a subordinated basis, Chubb INA's obligations under the Subordinated Debentures, and distributions and other payments due on the Capital Securities. These guarantees, when taken together with Chubb's obligations under expense agreements entered into with ACE Capital Trust II, provide a full and unconditional guarantee of amounts due on the Capital Securities.

Huatai Life capital supplementary bonds
In November 2024, Huatai Life issued 800 million Chinese yuan renminbi ($111 million based on the foreign exchange rate at the date of issuance) of 2.90 percent capital supplementary bonds (Bonds), due November 2034. The Bonds will be subordinated to Huatai Life’s policy and general liabilities, are redeemable in November 2029, if certain conditions are met, and are guaranteed by Huatai Group. Principal or interest payments on the Bonds may be deferred if such payments would reduce Huatai Life's solvency adequacy ratio below a required minimum.
v3.25.0.1
Commitments, contingencies, and guarantees
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments, contingencies, and guarantees Commitments, contingencies, and guarantees
a) Derivative instruments
Chubb maintains positions in derivative instruments such as futures, options, swaps, and foreign currency forward contracts for which the primary purposes are to manage duration and foreign currency exposure, yield enhancement, or to obtain an exposure to a particular financial market. Chubb also maintains positions in convertible securities that contain embedded derivatives, and exchange-traded equity futures contracts on equity market indices to limit equity exposure in the market risk benefit (MRB) book of business. Derivative instruments are principally recorded in either Other assets (OA) or Accounts payable, accrued expenses, and other liabilities (AP) in the Consolidated balance sheets. Convertible securities are recorded in either Fixed maturities available-for-sale (FM AFS) or Equity securities (ES), depending on the underlying investment. 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.

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


December 31, 2024December 31, 2023
Consolidated
Balance Sheet
Location		Fair ValueNotional
Value/
Payment
Provision		Fair ValueNotional
Value/
Payment
Provision
Derivative Asset Derivative (Liability) Derivative Asset Derivative (Liability)
(in millions of U.S. dollars)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contractsOA / (AP)$41 $(295)$3,959 $27 $(94)$3,662 
Options/Futures contracts on notes and bondsOA / (AP)— (8)449 27 (42)2,062 
Convertible securities (1)
FM AFS / ES12 — 12 56 — 64 
Total
$53 $(303)$4,420 $110 $(136)$5,788 
Other derivative instruments:
Futures contracts on equities (2)
OA / (AP)$35 $— $1,047 $— $(37)$1,157 
OtherOA / (AP)— (2)211 — (5)217 
Total
$35 $(2)$1,258 $— $(42)$1,374 
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedgesOA / (AP)$103 $— $1,579 $126 $— $1,631 
Cross-currency swaps - net investment hedgesOA / (AP)43 (116)2,896 10 (128)1,619 
Total
$146 $(116)$4,475 $136 $(128)$3,250 
(1)Includes fair value of embedded derivatives.
(2)Related to MRB book of business.

At December 31, 2024 and 2023, net derivative liabilities of $199 million and $115 million, respectively, included in the table above were subject to a master netting agreement. The remaining derivatives included in the table above were not subject to a master netting agreement.
b) Hedge accounting
We designate certain derivatives as fair value hedges and net investment hedges for accounting purposes to hedge foreign currency exposure associated with portions of our euro denominated debt and the net investment in certain foreign subsidiaries, respectively. These derivatives comprise cross-currency swaps, which are agreements under which two counterparties exchange interest payments and principal denominated in different currencies at a future date. These hedges have been and are expected to be highly effective.

(i) Cross-currency swaps - fair value hedges
Chubb holds certain cross-currency swaps designated as fair value hedges. The objective of these cross-currency swaps is to hedge the foreign currency risk on €1.5 billion, or approximately $1.6 billion at December 31, 2024, of euro denominated debt by converting cash flows back into the U.S. dollar.

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

Year Ended December 31
(pre-tax, in millions of U.S. dollars)20242023
Gain (loss) recognized in OCI$(38)$101 
Net realized gain (loss) reclassified from OCI(103)50 
Interest expense reclassified from OCI(15)(16)
OCI gain (loss) after reclassifications$80 $67 

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

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

Year Ended December 31
(pre-tax, in millions of U.S. dollars)20242023
Gain (loss) recognized in OCI$58 $(58)
Interest income reclassified from OCI19 13 
OCI gain (loss) after reclassifications$39 $(71)
c) Derivative instruments not designated as hedges
Derivative instruments which are not designated as hedges are carried at fair value with changes in fair value recorded in Net realized gains (losses) or, for futures contracts on equities related to the MRB book of business, in Market risk benefits gains (losses) in the Consolidated statements of operations. The following table presents net gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Investment and embedded derivative instruments:
Foreign currency forward contracts$(213)$(50)$(339)
Options/Futures contracts on notes and bonds22 (2)297 
Convertible securities (1)
2 (1)(1)
Total investment and embedded derivative instruments$(189)$(53)$(43)
Other derivative instruments:
Futures contracts on equities (2)
(165)(189)187 
Other(4)(10)(11)
Total other derivative instruments$(169)$(199)$176 
Total
$(358)$(252)$133 
(1)Includes embedded derivatives.
(2)Related to MRB book of business. 

(i) Foreign currency exposure management
A foreign currency forward contract (forward) is an agreement between participants to exchange specific currencies at a future date. Chubb uses forwards to minimize the effect of fluctuating foreign currencies as discussed above.

(ii) Duration management and market exposure
Futures
Futures contracts give the holder the right and obligation to participate in market movements, determined by the index or underlying security on which the futures contract is based. Settlement is made daily in cash by an amount equal to the change in value of the futures contract times a multiplier that scales the size of the contract. Exchange-traded futures contracts on money market instruments, notes, and bonds are used in fixed maturity portfolios to more efficiently manage duration, as substitutes for ownership of the money market instruments, bonds, and notes without significantly increasing the risk in the portfolio. Investments in futures contracts may be made only to the extent that there are assets under management not otherwise committed.

Exchange-traded equity futures contracts are used to limit exposure to a severe equity market decline, which would cause an increase in expected claims and, therefore, an increase in market risk benefit reserves.

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

The price of an option is influenced by the underlying security, level of interest rates, expected volatility, time to expiration, and supply and demand.

The credit risk associated with the above derivative financial instruments relates to the potential for non-performance by counterparties. Although non-performance is not anticipated, in order to minimize the risk of loss, management monitors the creditworthiness of its counterparties and obtains collateral. The performance of exchange-traded instruments is guaranteed by the exchange on which they trade. For non-exchange-traded instruments, the counterparties are principally banks which must meet certain criteria according to our investment guidelines.
Other
Included within Other are derivatives intended to reduce potential losses which may arise from certain exposures in our insurance business. The economic benefit provided by these derivatives is similar to purchased reinsurance. For example, Chubb may, from time to time, enter into crop derivative contracts to protect underwriting results in the event of a significant decline in commodity prices.

(iii) Convertible security investments
A convertible security is a debt instrument 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 to be announced mortgage-backed securities (TBAs), we make a commitment to purchase a future issuance of mortgage-backed securities. For the period between purchase of the TBAs and issuance of the underlying security, we account for our position as a derivative in the Consolidated Financial Statements. Chubb purchases TBAs, from time to time, both for their total return and for the flexibility they provide related to our mortgage-backed security strategy.

(v) Futures contracts on equities
Under the MRB program, as the assuming entity, Chubb is obligated to provide coverage until the expiration or maturity of the underlying deferred annuity contracts or the expiry of the reinsurance treaty. We may recognize a loss for changes in fair value due to adverse changes in the capital markets (e.g., declining interest rates and/or declining U.S. and/or international equity markets). To mitigate adverse changes in the capital markets, we maintain positions in exchange-traded equity futures contracts, as noted under section "(ii) Futures" above. These futures increase in fair value when the S&P 500 index decreases (and decrease in fair value when the S&P 500 index increases). The net impact of gains or losses related to changes in fair value of the MRB liability and the exchange-traded equity futures are included in Market risk benefits gains (losses) in the Consolidated statements of operations.

d) Securities lending and secured borrowings
Chubb participates in a securities lending program operated by a third-party banking institution whereby certain assets are loaned to qualified borrowers and from which we earn an incremental return. The securities lending collateral can only be drawn down by Chubb in the event that the institution borrowing the securities is in default under the lending agreement. An indemnification agreement with the lending agent protects us in the event a borrower becomes insolvent or fails to return any of the securities on loan. The collateral is recorded in Securities lending collateral and the liability is recorded in Securities lending payable in the Consolidated balance sheets.

The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
December 31, 2024December 31, 2023
(in millions of U.S. dollars)Overnight and Continuous
Collateral held under securities lending agreements:
Cash$557 $555 
U.S. Treasury / Agency145 33 
Non-U.S.663 621 
Corporate and asset-backed securities49 57 
Municipal3 6 
Equity securities28 27 
Total
$1,445 $1,299 
Gross amount of recognized liability for securities lending payable$1,445 $1,299 
At December 31, 2024 and 2023, our repurchase agreement obligations of $2,731 million and $2,833 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase
obligations. The fair value of the underlying securities sold remains in Fixed maturities available-for-sale or Other investments, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets.
The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
December 31, 2024December 31, 2023
Up to 30 Days30-90 DaysGreater than 90 DaysUp to 30 Days30-90 DaysGreater than 90 DaysTotal
(in millions of U.S. dollars)Total
Collateral pledged under repurchase agreements:
Cash$— $19 $2 $21 $— $33 $1 $34 
Non-U.S.1,387 — — 1,387 1,355 — — 1,355 
U.S. Treasury / Agency— — 104 104 — 105 — 105 
Mortgage-backed securities— 454 924 1,378 — 913 517 1,430 
Total
$1,387 $473 $1,030 $2,890 $1,355 $1,051 $518 $2,924 
Gross amount of recognized liabilities for repurchase agreements$2,731 $2,833 
Difference (1)
$159 $91 
(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) Concentrations of credit risk
Our investment portfolio is managed following prudent standards of diversification. Specific provisions limit the allowable holdings of a single issue and issuer. We believe that there are no significant concentrations of credit risk associated with our investments. Our three largest corporate exposures by issuer at December 31, 2024, were Bank of America Corp, Morgan Stanley, and JPMorgan Chase & Co. Our largest exposure by industry at December 31, 2024, was financial services.

We market our insurance and reinsurance worldwide primarily through insurance and reinsurance brokers. We assume a degree of credit risk associated with brokers with whom we transact business. Marsh & McLennan Companies, Inc. generated or placed approximately 11 percent of our gross premiums written for each of the years ended December 31, 2024, 2023, and 2022. This entity is a large, well-established company, and there are no indications that it is financially troubled at December 31, 2024. No other broker or one insured accounted for more than 10 percent of our gross premiums written for these years.

f) Fixed maturities
At December 31, 2024 and 2023, commitments to purchase fixed income securities over the next several years were approximately $1.3 billion and $1.0 billion, respectively.

g) Private equities
Private equities in the Consolidated balance sheets are investments in limited partnerships and partially-owned investment companies. At December 31, 2024, private equities with a carrying value of $14.5 billion had commitments that could require funding of up to $6.4 billion over the next several years. At December 31, 2023, these investments had a carrying value of $13.9 billion with commitments of up to $6.2 billion. The remaining private equities had no funding commitments.
h) Letters of credit
We have access to capital markets and to credit facilities with letter of credit (LOC) capacity of $4.1 billion, $3.0 billion of which can be used for revolving credit. Our existing credit facilities have remaining terms expiring through December 2028, including our $3.0 billion group syndicated credit facility expiring in October 2027. Our LOC usage was $978 million and $948 million at December 31, 2024 and 2023, respectively.

i) 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.

j) Lease commitments
At December 31, 2024 and 2023, the right-of-use asset was $824 million and $784 million, respectively, recorded within Other assets, and the lease liability was $942 million and $832 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. As of December 31, 2024, the weighted average remaining lease term and weighted average discount rate for the operating leases was 13.3 years and 4.6 percent, respectively. Rent expense was $214 million, $181 million, and $161 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Future minimum lease payments under the operating leases are expected to be as follows:
For the years ending December 31
(in millions of U.S. dollars)
Undiscounted cash flows:
2025$178 
2026154 
2027117 
202890 
202974 
Thereafter759 
Total undiscounted lease payments$1,372 
Less: Present value adjustment430 
Net lease liabilities reported as of December 31, 2024$942 

As of December 31, 2024, we have a lease commitment for office space that is not yet recorded on our Consolidated balance sheet and is not included in the total obligations referenced above. The lease is expected to commence in 2025 with an initial term of approximately 23 years. Total cash requirements are estimated at approximately $400 million over the term of the lease.
v3.25.0.1
Shareholders' equity note
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Shareholders' equity Shareholders’ equity
a) Common Shares
All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing the Consolidated Financial Statements. Under Swiss corporate law, we are generally prohibited from issuing Common Shares below their par value. If there were a need to raise common equity at a time when the trading price of Chubb's Common Shares is below par value, we would need in advance to obtain shareholder approval to decrease the par value of the Common Shares.

Dividend approval
At our May 2024 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.64 per share, expected to be paid in four quarterly installments of $0.91 per share after the annual 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 2025 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion. The first three quarterly installments each of $0.91 per share, have been distributed by the Board as expected.

At our May 2023 and 2022 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.44 per share and $3.32 per share, respectively, which were paid in four quarterly installments of $0.86 per share and $0.83 per share, respectively, at dates determined by the Board after the annual general meeting by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

Dividend distributions
Under Swiss corporate law, dividends must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. We issue dividends without subjecting them to withholding tax by way of distributions from capital contribution reserves and payment out of free reserves.

The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):
Year Ended December 31
202420232022
CHFUSDCHFUSDCHFUSD
Total dividend distributions per common share3.15 $3.59 3.05 $3.41 3.11 $3.29 

b) Shares issued, outstanding, authorized, and conditional
Year Ended December 31
202420232022
Common Shares authorized and issued, beginning of year431,451,586 446,376,614 474,021,114 
Cancellation of treasury shares(11,825,600)(14,925,028)(27,644,500)
Common Shares authorized and issued, end of year419,625,986 431,451,586 446,376,614 
Common Shares in treasury, beginning of year
(26,181,949)(31,781,758)(47,448,502)
Net shares issued under employee share-based compensation plans2,952,591 2,500,381 2,947,272 
Shares repurchased(7,518,565)(11,825,600)(14,925,028)
Cancellation of treasury shares11,825,600 14,925,028 27,644,500 
Common Shares in treasury, end of year
(18,922,323)(26,181,949)(31,781,758)
Common Shares outstanding, end of year400,703,663 405,269,637 414,594,856 

Increases in Common Shares in treasury are due to open market repurchases of Common Shares, 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 our May 2024 annual general meeting, our shareholders approved the cancellation of 11,825,600 shares purchased under our share repurchase programs
during 2023. The capital reduction was subject to publication requirements and became effective in accordance with Swiss law on May 21, 2024. At our May 2023 annual general meeting, our shareholders approved the cancellation of 14,925,028 shares purchased under our share repurchase programs during 2022. The capital reduction was subject to publication requirements and became effective in accordance with Swiss law on May 22, 2023. At our May 2022 annual general meeting, 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. 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.

Capital band for share capital increases and reductions
In accordance with Swiss law, the Board has shareholder-approved authority as set forth in the Articles of Association to increase or decrease the share capital by up to 20 percent from time to time until May 16, 2025, within the upper limit of CHF 251,775,591.50, corresponding to 503,551,183 registered shares, each to be fully paid up, with a par value of CHF 0.50 each, and the lower limit of CHF 167,850,394.50, corresponding to 335,700,789 registered shares, each to be fully paid up, with a par value of CHF 0.50 each. Any such increases or decreases would be subject to Swiss law and procedures and the Articles of Association.

Conditional share capital for bonds and similar debt instruments
Chubb's share capital may be increased through the issuance of a maximum of 33,000,000 fully paid up Common Shares (with a par value of CHF 0.50 as of December 31, 2024) through the exercise of conversion and/or option or warrant rights granted in connection with bonds, notes, or similar instruments, issued or to be issued by Chubb, including convertible debt instruments.

Conditional share capital for employee benefit plans
Chubb's share capital may be increased through the issuance of a maximum of 25,410,929 fully paid up Common Shares (with a par value of CHF 0.50 as of December 31, 2024) in connection with the exercise of option rights granted to any employee of Chubb, director or other person providing services to Chubb.

c) Chubb Limited securities repurchases
From time to time, we repurchase shares as part of our capital management program and to partially offset potential dilution from the exercise of stock options and the granting of restricted stock under share-based compensation plans. The Board has authorized share repurchase programs as follows:

•One-time incremental share repurchase program of $5.0 billion of Chubb Common Shares from July 19, 2021 through June 30, 2022;
•$2.5 billion of Chubb Common Shares from May 19, 2022 through June 30, 2023; and
•$5.0 billion of Chubb Common Shares effective July 1, 2023 with no expiration date.

Share repurchases may be in the open market, in privately negotiated transactions, block trades, accelerated repurchases and through option or other forward transactions. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:
Year Ended December 31January 1, 2025 through
(in millions of U.S. dollars, except share data)202420232022February 26, 2025
Number of shares repurchased7,518,565 11,825,600 14,925,028 543,782 
Cost of shares repurchased$2,024 $2,478 $3,014 $148 

d) General restrictions
The holders of the Common Shares are entitled to receive dividends as approved by the shareholders. Holders of Common Shares are allowed one vote per share provided that, if the controlled shares of any shareholder constitute ten percent or more of the outstanding Common Shares of Chubb, only a fraction of the vote will be allowed so as not to exceed ten percent in aggregate. Entry of acquirers of Common Shares as shareholders with voting rights in the share register may be refused if it
would confer voting rights with respect to ten percent or more of the registered share capital recorded in the commercial register.

e) Accumulated other comprehensive income (loss)
The following table presents changes in accumulated other comprehensive income (loss):
Year Ended December 31
(in millions of U.S. dollars)202420232022
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of year, net of tax$(4,177)$(7,279)$2,256 
Change in year, before reclassification from AOCI (before tax)(553)2,948 (11,627)
Amounts reclassified from AOCI (before tax)302 500 1,049 
Change in year, before tax(251)3,448 (10,578)
Income tax (expense) benefit(110)(328)1,043 
Total other comprehensive income (loss)(361)3,120 (9,535)
Noncontrolling interests, net of tax14 18 — 
Balance – end of year, net of tax(4,552)(4,177)(7,279)
Current discount rate on liability for future policy benefits
Balance – beginning of year, net of tax51 (75)(1,399)
Change in year, before tax(701)84 1,480 
Income tax (expense) benefit8 16 (156)
Total other comprehensive income (loss)(693)100 1,324 
Noncontrolling interests, net of tax(103)(26)— 
Balance – end of year, net of tax(539)51 (75)
Instrument-specific credit risk on market risk benefits
Balance – beginning of year, net of tax(22)(24)(57)
Change in year, before tax7 2 33 
Income tax expense(1)— — 
Total other comprehensive income 6 2 33 
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax(16)(22)(24)
Cumulative foreign currency translation adjustment
Balance – beginning of year, net of tax(2,945)(2,966)(2,114)
Change in year, before reclassification from AOCI (before tax)(1,158)— (907)
Amounts reclassified from AOCI (before tax)(19)(13)(4)
Change in year, before tax(1,177)(13)(911)
Income tax benefit39 27 59 
Total other comprehensive income (loss)(1,138)14 (852)
Noncontrolling interests, net of tax(58)(7)— 
Balance – end of year, net of tax(4,025)(2,945)(2,966)
Year Ended December 31
(in millions of U.S. dollars)202420232022
Accumulated other comprehensive income (loss) (AOCI) - continued
Fair value hedging instruments
Balance – beginning of year, net of tax(13)(66)— 
Change in year, before reclassification from AOCI (before tax)(38)101 17 
Amounts reclassified from AOCI (before tax)118 (34)(100)
Change in year, before tax80 67 (83)
Income tax (expense) benefit(17)(14)17 
Total other comprehensive income (loss)63 53 (66)
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax50 (13)(66)
Postretirement benefit liability adjustment
Balance – beginning of year, net of tax297 225 240 
Change in year, before tax177 90 (17)
Income tax (expense) benefit(36)(18)2 
Total other comprehensive income (loss)141 72 (15)
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax438 297 225 
Accumulated other comprehensive loss$(8,644)$(6,809)$(10,185)

The following table presents reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:
Consolidated Statement of Operations Location
Year Ended December 31
(in millions of U.S. dollars)202420232022
Fixed maturities available-for-sale$(302)$(500)$(1,049)Net realized gains (losses)
Income tax benefit92 62 170 Income tax expense
$(210)$(438)$(879)Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps$19 $13 $4 
Interest expense
Income tax expense(4)(3)(1)Income tax expense
$15 $10 $3 Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps$(103)$50 $105 Net realized gains (losses)
Cross-currency swaps(15)(16)(5)
Interest expense
Income tax (expense) benefit25 (7)(21)Income tax expense
$(93)$27 $79 Net income
Total amounts reclassified from AOCI$(288)$(401)$(797)
v3.25.0.1
Share-based compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based compensation Share-based compensation
Chubb has share-based compensation plans which currently provide the Board the ability to grant awards of stock options, restricted stock, and restricted stock units to its employees and members of the Board.

In May 2021, our shareholders approved the Chubb Limited 2016 Long-Term Incentive Plan, as amended and restated (the Amended 2016 LTIP). Under the Amended 2016 LTIP, Common Shares of Chubb are authorized to be issued pursuant to awards, including incentive and non-qualified stock options, stock appreciation rights, performance shares, performance stock units, restricted stock, and restricted stock units. Under the Chubb Deferred Stock Unit Plan, a sub-plan of the Amended 2016 LTIP, eligible participants may defer vested performance stock units and restricted stock units to the extent such awards are U.S.-allocated compensation.

Chubb principally issues restricted stock grants and stock options on a graded vesting schedule, with equal percentages of the award subject to vesting over a number of years (typically three or four). Chubb recognizes compensation cost for vesting of restricted stock and stock option grants with only service conditions on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award were, in-substance, multiple awards. We incorporate an estimate of future forfeitures in determining compensation cost for both grants of restricted stock and stock options.

In addition, Chubb grants performance-based restricted stock as performance shares and performance stock units to certain executives that vest based on certain performance criteria as compared to a defined group of peer companies. Performance shares and performance stock units comprise both target and premium awards that cliff vest at the end of a 3-year performance period based on both Chubb tangible book value (Chubb shareholders' equity less goodwill and intangible assets attributable to Chubb, net of tax) per share growth and P&C combined ratio compared to a defined group of peer companies. Premium awards are subject to an additional vesting provision based on total shareholder return (TSR) compared to the peer group. Performance shares and performance stock units representing target awards and premium awards are issued when the awards are approved and are subject to forfeiture if applicable performance criteria are not met at the end of the 3-year performance period. Chubb recognizes compensation cost for performance-based restricted stock when we conclude that it is probable that the performance conditions will be achieved.

Under the Amended 2016 LTIP, 32,900,000 Common Shares are authorized to be issued (which includes all shares available for delivery since the establishment of the Chubb Limited 2016 Long-Term Incentive Plan in 2016). This is in addition to any shares subject to awards outstanding under the ACE Limited 2004 Long-Term Incentive Plan (2004 LTIP) immediately prior to the effective date of the Amended 2016 LTIP that are forfeited, expired or canceled after such effective date without delivery of shares (or which result in forfeiture of shares back to Chubb). At December 31, 2024, a total of 10,072,965 shares remain available for future issuance under the Amended 2016 LTIP, which includes shares forfeited, expired or canceled relating to grants under the 2004 LTIP.

Under the Employee Stock Purchase Plan (ESPP), 9,000,000 shares are authorized to be issued. At December 31, 2024, a total of 2,738,105 shares remain available for issuance under the ESPP.

Chubb generally issues Common Shares for the exercise of stock options, restricted stock, and purchases under the ESPP from Common Shares in treasury.

The following table presents pre-tax and after-tax share-based compensation expense:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Stock options and shares issued under ESPP:
Pre-tax$83 $71 $60 
After-tax (1)
$49 $56 $38 
Restricted stock:
Pre-tax$274 $253 $230 
After-tax (1)
$210 $202 $179 
(1)The windfall tax benefit recorded to Income tax expense in the Consolidated statement of operations was $42 million, $19 million, and $29 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Unrecognized compensation expense related to the unvested portion of Chubb's employee share-based awards of restricted stock, restricted stock units, and stock options was $400 million at December 31, 2024, and is expected to be recognized over a weighted-average period of approximately 1.5 years.
Stock options
Both incentive and non-qualified stock options are principally granted at an option price per share equal to the grant date fair value of Chubb's Common Shares. Stock options are generally granted with a 3-year vesting period and a 10-year term. Stock options vest in equal annual installments over the respective vesting period, which is also the requisite service period.

Chubb's 2024 share-based compensation expense includes a portion of the cost related to the 2021 through 2024 stock option grants. Stock option fair value was estimated on the grant date using the Black-Scholes option-pricing model that uses the weighted-average assumptions noted below:
Year Ended December 31
202420232022
Dividend yield1.4 %1.7 %1.7 %
Expected volatility22.0 %23.0 %20.1 %
Risk-free interest rate4.3 %4.1 %1.9 %
Expected life5.7 years5.7 years5.8 years

The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life (estimated period of time from grant to exercise date) is estimated using the historical exercise behavior of employees. The expected volatility is calculated as a blend of (a) historical volatility based on daily closing prices over a period equal to the expected life assumption and (b) implied volatility derived from Chubb's publicly traded options.

The following table presents a roll-forward of Chubb's stock options:
(Intrinsic Value in millions of U.S. dollars)Number of OptionsWeighted-Average Exercise PriceWeighted-Average Fair ValueTotal Intrinsic Value
Options outstanding, December 31, 202110,762,487 $133.94 
Granted1,731,904 $198.36 $35.46 
Exercised(1,878,147)$117.83 $163 
Forfeited and expired(205,966)$171.45 
Options outstanding, December 31, 202210,410,278 $146.81 
Granted1,540,002 $208.60 $51.32 
Exercised(1,249,350)$127.45 $107 
Forfeited and expired(220,046)$191.57 
Options outstanding, December 31, 202310,480,884 $157.24 
Granted1,360,644 $254.84 $64.15 
Exercised(2,173,668)$136.82 $265 
Forfeited and expired(156,141)$218.64 
Options outstanding, December 31, 20249,511,719 $174.86 $965 
Options exercisable, December 31, 20246,807,857 $153.29 $837 

The weighted-average remaining contractual term was 5.6 years for stock options outstanding and 4.5 years for stock options exercisable at December 31, 2024. Cash received from the exercise of stock options totaled $295 million, $158 million, and $216 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Restricted stock and restricted stock units
Grants of restricted stock and restricted stock units awarded under the Amended 2016 LTIP typically have a 4-year vesting period, subject to vesting as to one-quarter of the award each anniversary of grant. Restricted stock and restricted stock units are principally granted at market close price on the day of grant. Each service-based restricted stock unit and performance stock unit represents our obligation to deliver to the holder one Common Share upon vesting (or the end of the deferral period, if the unit is under the Chubb Deferred Stock Unit Plan).

Chubb also grants restricted stock awards to non-management directors which vest at the following year's annual general meeting.

Chubb's 2024 share-based compensation expense includes a portion of the cost related to the restricted stock granted in the years 2020 through 2024.

The following table presents a roll-forward of our restricted stock awards and restricted stock units. Included in the roll-forward below are 10,388 restricted stock awards, 12,994 restricted stock awards, and 13,440 restricted stock awards that were granted to non-management directors during the years ended December 31, 2024, 2023, and 2022, respectively:
Service-based
Restricted Stock Awards
and Restricted Stock Units		Performance-based
Restricted Stock Awards
and Restricted Stock Units
Number of SharesWeighted-Average
Grant-Date Fair Value		Number of SharesWeighted-Average
Grant-Date Fair Value
Unvested restricted stock, December 31, 20213,051,811 $152.19 697,191 $151.74 
Granted1,193,016 $199.18 296,944 $199.09 
Vested(1,191,452)$148.18 (199,343)$133.90 
Forfeited(199,505)$168.12 — $— 
Unvested restricted stock, December 31, 20222,853,870 $172.39 794,792 $173.83 
Granted1,166,706 $208.07 407,825 $208.60 
Vested(1,142,911)$161.88 (203,533)$150.11 
Forfeited(203,850)$186.58 — $— 
Unvested restricted stock, December 31, 20232,673,815 $191.35 999,084 $192.85 
Granted1,009,991 $255.16 392,775 $254.34 
Vested(1,077,560)$181.12 (294,315)$164.75 
Forfeited(146,931)$213.90 — $— 
Unvested restricted stock, December 31, 20242,459,315 $220.78 1,097,544 $222.39 

Cash used to settle taxes on vested shares totaled $128 million, $101 million, and $101 million for the years ended December 31, 2024, 2023, and 2022, respectively and is included in Other in cash flows from financing activities in the Consolidated statements of cash flows.

Prior to 2009, legacy ACE granted restricted stock units with a 1-year vesting period to non-management directors. Delivery of Common Shares on account of these restricted stock units to non-management directors is deferred until after the date of the non-management directors' termination from the Board. Legacy Chubb Corp historically allowed directors and certain key employees of Chubb Corp and its subsidiaries to defer a portion of their compensation earned with respect to services performed in the form of deferred stock units. In addition, legacy Chubb Corp provided supplemental retirement benefits for certain employees through its Defined Contribution Excess Benefit Plan in the form of deferred shares of stock. The minimum vesting period under these legacy Chubb Corp deferred plans was 1-year and the maximum was 3-years. Employees and directors had the option to elect to receive their awards at a future specified date or upon their termination of service with Chubb. At December 31, 2024, there were 97,982 deferred restricted stock units.
ESPP
The ESPP gives participating employees the right to purchase Common Shares through payroll deductions during consecutive subscription periods at a purchase price of 85 percent of the fair value of a Common Share on the exercise date (Purchase Price). Annual purchases by participants are limited to the number of whole shares that can be purchased by an amount equal to ten percent of the participant's compensation or $25,000, whichever is less. The ESPP has two six-month subscription periods each year, the first of which runs between January 1 and June 30 and the second of which runs between July 1 and December 31. The amounts collected from participants during a subscription period are used on the exercise date to purchase full shares of Common Shares. An exercise date is generally the last trading day of a subscription period. The number of shares purchased is equal to the total amount, at the exercise date, collected from the participants through payroll deductions for that subscription period, divided by the Purchase Price, rounded down to the next full share. Participants may withdraw from an offering before the exercise date and obtain a refund of amounts withheld through payroll deductions. Pursuant to the provisions of the ESPP, during the years ended December 31, 2024, 2023, and 2022, employees paid $61 million, $54 million, and $48 million to purchase 272,350 shares, 305,604 shares, and 271,650 shares, respectively.
v3.25.0.1
Postretirement benefits
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Postretirement benefits Postretirement benefits
Chubb provides postretirement benefits to eligible employees and their dependents through various defined contribution plans sponsored by Chubb. In addition, for certain employees, Chubb sponsors other postretirement benefit plans and defined benefit pension plans.
Defined contribution plans (including 401(k))
Under these plans, employees' contributions may be supplemented by Chubb matching contributions based on the level of employee contribution. These contributions are invested at the election of each employee in one or more of several investment portfolios offered by a third-party investment advisor. Expenses for these plans totaled $298 million, $283 million, and $230 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Defined benefit pension plans
We maintain non-contributory defined benefit pension plans that cover certain employees located in the U.S., U.K., Canada, and various other statutorily required countries. We account for pension benefits using the accrual method. Benefits under these plans are based on employees' years of service and compensation during final years of service. All underlying plans are subject to periodic actuarial valuations by qualified actuarial firms using actuarial models to calculate the expense and liability for each plan. We use December 31 as the measurement date for our defined benefit pension plans.

Under the Chubb Corp plans, prior to 2001, benefits were generally based on an employee’s years of service and average compensation during the last five years of employment. Effective January 1, 2001, the formula for providing pension benefits was changed from the final average pay formula to a cash balance formula. Under the cash balance formula, a notional account is established for each employee, which is credited semi-annually with an amount equal to a percentage of eligible compensation based on age and years of service plus interest based on the account balance. Chubb Corp employees hired prior to 2001 will generally be eligible to receive vested benefits based on the higher of the final average pay or cash balance formulas.

Other postretirement benefit plans
Our assumption of Chubb Corp's other postretirement benefit plans, principally healthcare and life insurance, covers retired employees, their beneficiaries, and covered dependents. Healthcare coverage is contributory. Retiree contributions vary based upon the retiree’s age, type of coverage, and years of service requirements. Life insurance coverage is non-contributory. Chubb funds a portion of the healthcare benefits obligation where such funding can be accomplished on a tax-effective basis. Benefits are paid as covered expenses are incurred. We use December 31 as the measurement date for our postretirement benefit plans.

Amendments to U.S. qualified and excess pension plans and U.S. retiree healthcare plan
In 2016, we harmonized and amended several of our U.S. retirement programs to create a unified retirement savings program. The amendments required a remeasurement of the plan assets and benefit obligations with updated assumptions, including discount rates and the expected return on assets. In 2020, we transitioned from a traditional defined benefit pension program that had been in effect for certain employees to a defined contribution program. Additionally, after 2025, we plan to eliminate a subsidized U.S. retiree healthcare and life insurance plan that is currently in place for certain employees.
Obligations and funded status
The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in the Consolidated balance sheets and Accumulated other comprehensive income (loss) at December 31, 2024 and 2023, was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2024202320242023
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$2,833 $743 $2,781 $697 $36 $43 
   Service cost— 9 — 7 1 — 
   Interest cost134 36 138 36 2 2 
   Actuarial loss (gain)(162)(54)82 29 (2)2 
   Benefits paid(151)(37)(168)(38)(10)(12)
   Amendments— 1 — — — — 
   Curtailments— — — — — — 
   Settlements— — — (5)— — 
   Foreign currency revaluation and other — (14)— 17 (2)1 
Benefit obligation, end of year$2,654 $684 $2,833 $743 $25 $36 
Plan assets at fair value, beginning of year$3,589 $986 $3,316 $938 $69 $81 
   Actual return on plan assets243 12 417 57 3 4 
   Employer contributions6 13 24 15 — 1 
   Benefits paid(151)(37)(168)(38)(10)(17)
   Settlements— — — (8)— — 
   Foreign currency revaluation and other— (9)— 22 — — 
Plan assets at fair value, end of year$3,687 $965 $3,589 $986 $62 $69 
Funded status at end of year$1,033 $281 $756 $243 $37 $33 
Amounts recognized in the Consolidated balance sheets:
Assets$1,074 $335 $801 $300 $57 $54 
Liabilities(41)(54)(45)(57)(20)(21)
Total$1,033 $281 $756 $243 $37 $33 
Amounts recognized in Accumulated other comprehensive
income (loss), pre-tax, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$(563)$11 $(404)$29 $(11)$(10)
Prior service cost (benefit)— 8 — 8 (3)(4)
Total$(563)$19 $(404)$37 $(14)$(14)

For the U.S. pension plans, the $162 million actuarial gain and $82 million actuarial loss experienced in 2024 and 2023, respectively, were principally driven by the change in discount rates. In addition, for the non-U.S. pension plans, the $54 million actuarial gain and $29 million actuarial loss experienced in 2024 and 2023, respectively, were principally driven by the change in discount rates.
The accumulated benefit obligation for the pension benefit plans was $3.3 billion and $3.5 billion at December 31, 2024 and 2023, respectively. The accumulated benefit obligation is the present value of pension benefits earned as of the measurement date based on employee service and compensation prior to that date. For the non-U.S. pension plans, this differs from the pension (projected) benefit obligation in the table above in that the accumulated benefit obligation includes no assumptions regarding future compensation levels.
Chubb’s funding policy is to contribute amounts that meet regulatory requirements plus additional amounts determined based on actuarial valuations, market conditions and other factors. All benefit plans satisfy minimum funding requirements of the Employee Retirement Income Security Act of 1974 (ERISA). 

The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2024 and 2023:
20242023
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$41 $95 $45 $101 
Fair value of plan assets— 41 — 44 
Net funded status$(41)$(54)$(45)$(57)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$41 $70 $45 $73 
Fair value of plan assets$— $38 $— $40 

For other postretirement benefit plans with an accumulated benefit obligation in excess of plan assets, the accumulated benefit obligation was $20 million and $21 million at December 31, 2024 and 2023, respectively. These plans have no plan assets.

At December 31, 2024, we estimate that we will contribute $15 million to the pension plans and $1 million to the other postretirement benefits plan in 2025. The estimate is subject to change due to contribution decisions that are affected by various factors including our liquidity, market performance, and management discretion.
At December 31, 2024, our estimated expected future benefit payments are as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
For the years ending December 31U.S.
Plans		Non-U.S. Plans
(in millions of U.S. dollars)
2025$184 $42 $5 
2026187 35 1 
2027190 35 1 
2028193 38 1 
2029196 40 1 
2030-2034982 237 6 
The weighted-average assumptions used to determine the projected benefit obligation were as follows:
Pension Benefit Plans
U.S.
Plans		Non-U.S.
Plans		Other Postretirement Benefit Plans
December 31, 2024
Discount rate5.56 %5.62 %6.46 %
Rate of compensation increase (1)
N/A3.61 %N/A
Interest crediting rate4.43 %
December 31, 2023
Discount rate4.98 %5.03 %6.01 %
Rate of compensation increase (1)
N/A3.73 %N/A
Interest crediting rate4.55 %
(1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019.

The projected benefit cash flows were discounted using the corresponding spot rates derived from a yield curve, which resulted in a single discount rate that would produce the same liability at the respective measurement dates. The same process was applied to service cost cash flows to determine the discount rate associated with the service cost. In general, the discount rates for the non-U.S. plans were developed using a similar methodology by using country-specific yield curves.

The components of net pension and other postretirement benefit costs (benefits) reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) were as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
U.S. PlansNon-U.S. Plans
Year Ended December 31202420232022202420232022202420232022
(in millions of U.S. dollars)
Costs reflected in Net income, pre-tax:
Service cost$— $— $— $9 $7 $4 $1 $— $1 
Non-service cost (benefit):
Interest cost134 138 85 36 36 23 2 2 1 
Expected return on plan assets(244)(225)(283)(50)(51)(43)(3)(3)(1)
Amortization of net actuarial (gain) loss (2)— — 1 — — (2)(1)— 
Amortization of prior service cost (benefit)— — — — 1 — (1)— — 
Curtailments— — — — — — — — — 
Settlements1 3 — 1 4 — — — — 
Total non-service cost (benefit)(111)(84)(198)(12)(10)(20)(4)(2)— 
Net periodic benefit cost (benefit)$(111)$(84)$(198)$(3)$(3)$(16)$(3)$(2)$1 
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Net actuarial loss (gain)$(161)$(111)$85 $(15)$22 $(67)$(3)$2 $(1)
Prior service cost (benefit)— — — — — — — — — 
Amortization of net actuarial gain (loss)2 — — (1)— — 2 1 — 
Amortization of prior service benefit— — — — — — 1 — — 
Curtailments— — — — — — — — — 
Settlements(1)(3)— (1)(1)— — — — 
Total decrease (increase) in other comprehensive income (loss), pre-tax$(160)$(114)$85 $(17)$21 $(67)$— $3 $(1)
The line items in which the service cost and non-service cost (benefit) components of net periodic benefit cost (benefit) are included in the Consolidated statements of operations were as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
Year Ended December 31202420232022202420232022
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses$— $— $— $— $— $— 
Administrative expenses9 7 4 1 — 1 
Total service cost9 7 4 1 — 1 
Non-service cost (benefit):
Losses and loss expenses(12)(9)(20)(1)— — 
Administrative expenses(111)(85)(198)(3)(2)— 
Total non-service cost (benefit)(123)(94)(218)(4)(2)— 
Net periodic benefit cost (benefit)$(114)$(87)$(214)$(3)$(2)$1 

The weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:
Pension Benefit Plans
U.S. PlansNon-U.S. PlansOther Postretirement Benefit Plans
Year Ended December 31
2024
Discount rate in effect for determining service costN/A6.67 %5.23 %
Discount rate in effect for determining interest cost4.88 %5.12 %6.01 %
Rate of compensation increaseN/A3.73 %N/A
Expected long-term rate of return on plan assets7.00 %5.24 %4.00 %
Interest crediting rate4.55 %N/AN/A
2023
Discount rate in effect for determining service costN/A6.57 %5.67 %
Discount rate in effect for determining interest cost5.13 %5.28 %5.84 %
Rate of compensation increaseN/A3.98 %N/A
Expected long-term rate of return on plan assets7.00 %5.42 %4.00 %
Interest crediting rate4.32 %N/AN/A
2022
Discount rate in effect for determining service costN/A7.23 %3.22 %
Discount rate in effect for determining interest cost2.34 %2.13 %1.89 %
Rate of compensation increaseN/A3.63 %N/A
Expected long-term rate of return on plan assets7.00 %3.44 %1.00 %
Interest crediting rate4.10 %N/AN/A
The weighted-average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:
U.S. PlansNon-U.S. Plans
202420232022202420232022
Healthcare cost trend rate6.52 %5.57 %5.72 %4.94 %5.08 %5.28 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.00 %4.00 %4.00 %4.10 %4.08 %4.04 %
Year that the rate reaches the ultimate trend rate204820462046204020402040

Plan Assets
The long-term objective of the pension plan is to provide sufficient funding to cover expected benefit obligations, while assuming a prudent level of portfolio risk. The assets of the pension plan are invested, either directly or through pooled funds, in a diversified portfolio of predominately equity securities and fixed maturities. We seek to obtain a rate of return that over time equals or exceeds the returns of the broad markets in which the plan assets are invested. The target allocation of U.S. plan assets is 55 percent to 65 percent invested in equity securities (including certain other investments measured using NAV), with the remainder primarily invested in fixed maturities and private equity investments. The target allocation of non-U.S. plans varies by country, but the plan assets are principally invested in fixed maturities. We rebalance our pension assets to the target allocation as market conditions permit. We determined the expected long-term rate of return assumption for each asset class based on an analysis of the historical returns and the expectations for future returns. The expected long-term rate of return for the portfolio is a weighted aggregation of the expected returns for each asset class.

In order to minimize risk, the Plan maintains a listing of permissible and prohibited investments. In addition, the Plan has certain concentration limits and investment quality requirements imposed on permissible investments options. Investment risk is measured and monitored on an ongoing basis.
The following tables present the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 4 to the Consolidated Financial Statements.

December 31, 2024Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$59 $— $— $59 
U.S. Treasury / Agency453 88 — 541 
Non-U.S. and corporate bonds— 593 — 593 
Municipal— 6 — 6 
Equity securities1,547 — — 1,547 
Investment derivative instruments1 — — 1 
Total U.S. Plan assets (1)
$2,060 $687 $— $2,747 
Non-U.S. Plans:
Short-term investments$22 $— $— $22 
Non-U.S. and corporate bonds— 435 — 435 
Equity securities38 225 5 268 
Total Non-U.S. Plan assets (1)
$60 $660 $5 $725 
(1)Excluded from the table above are $714 million and $222 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $223 million and $18 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $3 million in cash and accrued income related to the U.S. Plans.
December 31, 2023Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$45 $— $— $45 
U.S. Treasury / Agency470 86 — 556 
Non-U.S. and corporate bonds— 637 — 637 
Municipal— 6 — 6 
Equity securities1,466 — — 1,466 
Investment derivative instruments5 — — 5 
Total U.S. Plan assets (1)
$1,986 $729 $— $2,715 
Non-U.S. Plans:
Short-term investments$7 $— $— $7 
Non-U.S. and corporate bonds— 457 — 457 
Equity securities63 211 4 278 
Total Non-U.S. Plan assets (1)
$70 $668 $4 $742 
(1)Excluded from the table above are $634 million and $227 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $224 million and $17 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $16 million in cash and accrued income related to the U.S. Plans.
At December 31, 2024, the other postretirement benefit plan had $62 million of plan assets, of which $23 million of fixed maturities were categorized as Level 2, and $39 million of other investments were measured using NAV as a practical expedient. At December 31, 2023, the other postretirement benefit plan had $69 million of plan assets, of which $34 million of fixed maturities were categorized as Level 2, and $35 million of other investments were measured using NAV as a practical expedient.
v3.25.0.1
Other income and expense
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other (income) expense Other income and expense
Year Ended December 31
(in millions of U.S. dollars)2024 20232022 
Equity in net income (loss) of partially-owned entities$967 $867 $1 
Gains (losses) from fair value changes in separate account assets
(8)(45)(42)
Asset management and performance fee revenue265 136 — 
Asset management and performance fee expense(146)(75)— 
Federal excise and capital taxes(21)(24)(21)
Other(34)(23)(27)
Total$1,023 $836 $(89)

Equity in net income of partially-owned entities includes our share of net income or loss, both underlying operating income and mark-to-market movement, related to partially-owned investment companies (private equity) where we own more than three percent, and partially-owned insurance companies. This line item includes mark-to-market gains (losses) on private equities of $537 million, $434 million, and $(219) million for the years ended December 31, 2024, 2023, and 2022, respectively.

Other income and expense includes net income attributable to our investment in Huatai under the equity method of accounting comprising income (expense) of $36 million through June 30, 2023, and $(11) million for the year ended December 31, 2022. Effective July 1, 2023, we discontinued the equity method of accounting and include the results of operations of Huatai in our consolidated results.
Also included in Other income and expense are gains (losses) from fair value changes in separate account assets that do not qualify for separate account treatment under U.S. GAAP. The offsetting movement in the separate account liabilities is included in Policy benefits in the Consolidated statements of operations.
Asset management and performance fee revenue and expense primarily relate to the management of third-party assets by Huatai's asset management business, which is unrelated to Huatai Group's core insurance operations. These revenues and
expenses are recognized in the period in which the services are performed and, for certain asset performance fees, to the extent it is probable that a significant reversal will not occur.
Certain federal excise and capital taxes incurred as a result of capital management initiatives are included in Other income and expense as these are considered capital transactions and are excluded from underwriting results. Bad debt expense for uncollectible premiums is also included in Other income and expense.
v3.25.0.1
Segment information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment information Segment information
Chubb operates through six business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. These segments distribute their products through various forms of brokers, agencies, and direct marketing programs. All business segments have established relationships with reinsurance intermediaries. Effective July 1, 2023, the results of Huatai’s life and asset management businesses, included within the Life Insurance segment, and the results of Huatai’s P&C insurance business, included within Overseas General Insurance, are presented gross within Underwriting income (loss), Net investment income (loss), and Other income (expense) as required under consolidation accounting. Huatai’s results prior to July 1, 2023, were included net within Other (income) expense based on our ownership interest as required under equity method accounting. Effective July 1, 2022, the results of the acquired 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.

•The North America Commercial P&C Insurance segment comprises operations that provide P&C and A&H insurance and services to large, middle market, and small commercial businesses in the U.S., Canada, and Bermuda. This segment includes our retail divisions: Major Accounts; Commercial Insurance, including Small Commercial Insurance; Chubb Bermuda, our high excess business; and Westchester, our wholesale and specialty division. These divisions write a variety of coverages, including property, casualty, workers’ compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, excess casualty, and A&H insurance.

•The North America Personal P&C Insurance segment comprises the business written by Chubb Personal Risk Services division, which includes high net worth personal lines business, with operations in the U.S. and Canada. This segment provides affluent and high net worth individuals and families with homeowners, high value automobile and collector cars, valuable articles (including fine arts), personal and excess liability, travel insurance, and recreational marine insurance and services.

•The North America Agricultural Insurance segment includes the business written by Rain and Hail Insurance Service, Inc. in the U.S. and Canada, which provides comprehensive multiple peril crop insurance (MPCI) and crop-hail insurance, and Chubb Agribusiness, which offers farm and ranch property as well as specialty P&C coverages, including commercial agriculture products.

•The Overseas General Insurance segment includes the business written by two Chubb divisions that provides both commercial and consumer P&C insurance and services in the 51 countries and territories outside of North America where the company operates. Chubb International, our retail division, provides commercial P&C, A&H and traditional and specialty personal lines for large corporations, middle markets and small customers through retail brokers, agents and other channels locally around the world. CGM provides commercial P&C excess and surplus lines wholesale business primarily through wholesale brokers in the London market and through Lloyd’s. These divisions write a variety of coverages, including traditional commercial P&C, specialty categories such as financial lines, marine, energy, aviation, political risk and construction, as well as group A&H and traditional and specialty personal lines.

•The Global Reinsurance segment includes the assumed reinsurance business written by Chubb Tempest Re, comprising Chubb Tempest Re Bermuda, Chubb Tempest Re USA, Chubb Tempest Re International, and Chubb Tempest Re Canada. Chubb Tempest Re provides a broad range of traditional and specialty reinsurance coverages to a diverse array of primary P&C companies, including small, mid-sized, and multinational ceding companies.

•The Life Insurance segment includes our international life operations (Chubb Life), which includes individual life and group benefit insurance primarily in Asia and Latin America. The Life Insurance segment also includes Chubb Tempest Life Re (Chubb Life Re), and the North American supplemental A&H and life insurance business of Combined Insurance.
Corporate primarily includes the results of all run-off A&E exposures, run-off Brandywine business, Westchester specialty operations for 1996 and prior years, and certain other run-off exposures, including molestation claims and is shown in the tables below as reconciling items. In addition, Corporate includes the results of our non-insurance companies including Chubb Limited, Chubb Group Management and Holdings Ltd., and Chubb INA Holdings LLC. Effective July 1, 2023, the results of Huatai Group’s non-insurance operations, comprising real estate and holding company activity, are included in Corporate. Our exposure to A&E and molestation claims principally arises out of liabilities acquired when we purchased Westchester Specialty in 1998, CIGNA’s P&C business in 1999, and Chubb Corp in 2016.

Segment performance is reviewed by the Chief Executive Officer of Chubb Ltd, our Chief Operating Decision Maker (CODM). The CODM is ultimately responsible for evaluating the performance of our six business segments, making strategic operating decisions, and allocating resources. The financial results of our operations are reported in a manner consistent with results reviewed by the CODM in reviewing and assessing the performance of our six business segments. Excluding our Life Insurance segment, the CODM uses Underwriting income (loss) as a basis for segment performance. Chubb calculates Underwriting income (loss) by subtracting Losses and loss expenses, Policy benefits, Policy acquisition costs, and Administrative expenses from Net premiums earned. For both our P&C and Life Insurance segments, another measure of segment performance is Segment income (loss). Segment income (loss) includes Underwriting income (loss), Net investment income (loss), amortization of purchased intangibles acquired by the segment, and other operating income and expense items such as each segment's share of the operating income (loss) related to partially-owned entities, and miscellaneous income and expense items for which the segments are held accountable. We determined that this definition of Segment income (loss) is appropriate and aligns with how the business is managed. We continue to evaluate our segments as our business continues to evolve and may further refine our segments and Segment income (loss) measures.

Revenue and expenses managed at the corporate level, including Net realized gains (losses), Market risk benefits gains (losses), Interest expense, Integration expenses, Income tax expense, and Net income (loss) attributable to noncontrolling interests are reported within Corporate. 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 primarily related to the acquisition of Cigna's business in Asia. These items are not allocated to the segment level as they are one-time in nature and are not related to the ongoing business activities of the segment. The CODM does not manage segment results or allocate resources to segments when considering these costs, and therefore integration expenses are excluded from our definition of Segment income (loss).

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

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

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

•Net investment income includes investment income reclassified from Other (income) expense related to partially-owned investment companies (private equity partnerships) where our ownership interest is in excess of three percent. We view investment income from these equity-method private equity partnerships as Net investment income for segment reporting purposes.
The following tables present the Statement of Operations by segment:
For the Year Ended
December 31, 2024
(in millions of U.S. dollars)		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceTotal
Net premiums written$20,589 $6,532 $2,703 $13,972 $1,346 $6,326 $51,468 
Net premiums earned20,008 6,188 2,705 13,400 1,272 6,273 49,846 
Losses and loss expenses12,737 3,584 2,170 6,414 711 112 
Policy benefits— — — 408 — 4,101 
Policy acquisition costs2,718 1,239 191 3,410 342 1,202 
Administrative expenses1,337 351 (10)1,351 39 880 
Underwriting income3,216 1,014 354 1,817 180 NM
Net investment income3,556 433 84 1,136 253 1,003 
Other (income) expense32 1 1 14 — (159)
Amortization of purchased intangibles3 9 25 81 — 42 
Segment income$6,737 $1,437 $412 $2,858 $433 $1,098 $12,975 
Net realized gains (losses) 117 
Market risk benefits gains (losses)(140)
Interest expense741 
Integration expenses39 
Corporate underwriting loss(731)
Corporate net investment loss(105)
Corporate other (income) expense(490)
Corporate amortization of purchased intangibles163 
Other reclassification(208)
Income before income tax$11,455 
NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.
For the Year Ended
December 31, 2023
(in millions of U.S. dollars)		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceTotal
Net premiums written$19,237 $5,878 $3,188 $12,575 $1,018 $5,465 $47,361 
Net premiums earned18,416 5,536 3,169 12,231 962 5,398 45,712 
Losses and loss expenses11,256 3,511 2,874 5,643 426 114 
Policy benefits— — — 457 — 3,216 
Policy acquisition costs2,515 1,128 150 3,113 264 1,089 
Administrative expenses1,250 329 (1)1,219 37 771 
Underwriting income3,395 568 146 1,799 235 NM
Net investment income3,017 358 63 895 208 756 
Other (income) expense22 3 1 (25)(2)(115)
Amortization of purchased intangibles— 9 25 70 — 30 
Segment income$6,390 $914 $183 $2,649 $445 $1,049 $11,630 
Net realized gains (losses) (607)
Market risk benefits gains (losses)(307)
Interest expense672 
Integration expenses69 
Corporate underwriting loss(683)
Corporate net investment income25 
Corporate other (income) expense(380)
Corporate amortization of purchased intangibles176 
Other reclassification5 
Income before income tax$9,526 
NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.
For the Year Ended
December 31, 2022
(in millions of U.S. dollars)		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceTotal
Net premiums written$17,889 $5,313 $2,907 $11,060 $943 $3,608 $41,720 
Net premiums earned17,107 5,180 2,838 10,803 922 3,510 40,360 
Losses and loss expenses10,828 3,186 2,557 4,894 670 85 
Policy benefits— — — 358 — 1,998 
Policy acquisition costs2,313 1,057 126 2,818 240 785 
Administrative expenses1,113 291 (10)1,070 36 510 
Underwriting income (loss)2,853 646 165 1,663 (24)NM
Net investment income2,247 283 36 626 281 509 
Other (income) expense17 4 1 2 1 (30)
Amortization of purchased intangibles— 10 26 57 — 10 
Segment income$5,083 $915 $174 $2,230 $256 $661 $9,319 
Net realized gains (losses) (1,085)
Market risk benefits gains (losses)80 
Interest expense570 
Integration expenses48 
Corporate underwriting loss(748)
Corporate other (income) expense292 
Corporate amortization of purchased intangibles182 
Other reclassification11 
Income before income tax$6,485 
NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.


Underwriting assets are reviewed in total by management for purposes of decision-making. Other than certain insurance related balances, Goodwill and Other intangible assets, Chubb does not allocate assets to its segments.
The following table presents net premiums earned for each segment by line of business:
For the Year Ended December 31
(in millions of U.S. dollars)202420232022
North America Commercial P&C Insurance
Property & other short-tail lines$4,756 $3,985 $3,383 
Casualty & all other14,560 13,764 13,056 
A&H692 667 668 
Total North America Commercial P&C Insurance20,008 18,416 17,107 
North America Personal P&C Insurance
Personal automobile968 859 811 
Personal homeowners4,293 3,833 3,557 
Personal other927 844 812 
Total North America Personal P&C Insurance6,188 5,536 5,180 
North America Agricultural Insurance2,705 3,169 2,838 
Overseas General Insurance
Property & other short-tail lines4,338 3,831 3,382 
Casualty & all other3,705 3,526 3,232 
Personal lines2,785 2,405 2,020 
A&H2,572 2,469 2,169 
Total Overseas General Insurance13,400 12,231 10,803 
Global Reinsurance
Property 490 331 211 
Property catastrophe232 159 208 
Casualty & all other550 472 503 
Total Global Reinsurance1,272 962 922 
Life Insurance
Life3,049 2,301 1,455 
A&H3,224 3,097 2,055 
Total Life Insurance6,273 5,398 3,510 
Total net premiums earned$49,846 $45,712 $40,360 

The following table presents net premiums earned by geographic region. Allocations have been made on the basis of location of risk:
North America
Europe (1)
Asia (2)
Latin America
202464 %11 %19 %6 %
202365 %11 %18 %6 %
202269 %11 %14 %6 %
(1)     Europe includes Middle East and Africa regions.
(2)     2023 and 2024 include the consolidated results of Huatai Group effective July 1, 2023.
v3.25.0.1
Earnings per share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings per share Earnings per share
Year Ended December 31
(in millions of U.S. dollars, except share and per share data)202420232022
Numerator:
Net income$9,640 $9,015 $5,246 
Net income (loss) attributable to noncontrolling interests368 (13)— 
Net income attributable to Chubb$9,272 $9,028 $5,246 
Denominator:
Denominator for basic earnings per share attributable to Chubb:
Weighted-average shares outstanding404,189,749 410,845,263 419,779,847 
Denominator for diluted earnings per share attributable to Chubb:
Share-based compensation plans4,296,686 3,357,305 3,747,597 
Weighted-average shares outstanding and assumed conversions
408,486,435 414,202,568 423,527,444 
Basic earnings per share attributable to Chubb$22.94 $21.97 $12.50 
Diluted earnings per share attributable to Chubb$22.70 $21.80 $12.39 
Potential anti-dilutive share conversions1,150,169 2,385,099 1,467,840 

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years. These securities consisted of stock options in which the underlying exercise prices were greater than the average market prices of our Common Shares. Refer to Note 16 for additional information on stock options.
v3.25.0.1
Related party transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
ABR Re
At December 31, 2024, we owned 18.7 percent of the common equity of ABR Reinsurance Capital Holdings Ltd. and warrants to acquire 0.5 percent of additional equity. ABR Reinsurance Capital Holdings Ltd., is the parent company of ABR Reinsurance Ltd. (ABR Re), an independent reinsurance company. Through long-term arrangements, Chubb is the sole source of reinsurance risks ceded to ABR Re, and BlackRock, Inc. serves as an investment management service provider. As an investor, Chubb is expected to benefit from underwriting profit generated by ABR Re’s reinsuring a wide range of Chubb’s primary insurance business and the income and capital appreciation BlackRock, Inc. seeks to deliver through its investment management services. In addition, Chubb has an arrangement with BlackRock, Inc. under which both Chubb and BlackRock, Inc. will be entitled to an equal share of the aggregate amount of certain fees, including underwriting and investment management performance related fees, in connection with their respective reinsurance and investment management arrangements with ABR Re. In connection with this arrangement with BlackRock, Inc., we recorded income of $12 million, $8 million, and $7 million in 2024, 2023, and 2022, respectively, which is recorded in Other (income) expense on the Consolidated statements of operations.

ABR Re is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate ABR Re because Chubb does not have the power to control and direct ABR Re’s most significant activities, including investing and underwriting. Our ownership interest is accounted for under the equity method of accounting. Chubb cedes premiums to ABR Re and recognizes the associated commissions.
Transactions generated under ABR Re agreements were as follows:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Consolidated statements of operations
Ceded premiums written$476 $441 $507 
Commissions received$117 $119 $138 
Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses$1,372 $1,241 
Ceded reinsurance premium payable$112 $40 
Aquiline Capital Partners LLC
Chubb invests in private investment funds managed by Aquiline Capital Partners LLC (collectively, Aquiline Funds), of which its chairman is related to a member of our senior management team. We have more than a three percent ownership interest in these funds and therefore account for them under the equity method of accounting. At December 31, 2024, Chubb has approximately $152 million of future contribution commitments to Aquiline Funds. Transactions generated from investments in Aquiline Funds are as follows:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Consolidated statements of operations
Other income (expense)$60 $36 $8 
Consolidated balance sheets
Private equities$400 $368 
Starr Indemnity & Liability Company and its affiliates (collectively, Starr)
We had previously entered into agency, claims services, and underwriting services with Starr, of which its chairman is related to a member of our senior management team. A number of our agreements with Starr were terminated effective as of April 2023. However, Starr continues to provide certain services to Chubb, including claims administration, in respect of insurance policies placed prior to the termination, pursuant to the terms of the applicable agreements. Under the agency agreement, we secured the ability to sell our insurance policies through Starr as one of our non-exclusive agents for writing policies, contracts, binders, or agreements of insurance or reinsurance. Under the claims services agreements, Starr adjusts the claims under policies and arranged for third party treaty and facultative agreements covering such policies. Under the underwriting services agreements, Starr was the underwriter of insurance policies on our behalf and we agreed to reinsure such policies to Starr under quota share reinsurance agreements. Transactions generated under Starr agreements were as follows:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Consolidated statement of operations
Gross premiums written$10 $216 $618 
Ceded premiums written$24 $115 $353 
Commissions paid$3 $38 $122 
Commissions received$3 $26 $79 
Losses and loss expenses$24 $180 $225 
Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses$328 $503 
Ceded reinsurance premium payable$19 $44 
v3.25.0.1
Statutory Financial Information
 12 Months Ended
Dec. 31, 2024
Statutory Financial Information [Abstract]  
Statutory financial information Statutory financial information
Our subsidiaries file financial statements prepared in accordance with statutory accounting practices prescribed or permitted by insurance regulators. Statutory accounting differs from U.S. GAAP in the reporting of certain reinsurance contracts, investments, subsidiaries, acquisition expenses, fixed assets, deferred income taxes, and certain other items. Some jurisdictions impose complex regulatory requirements on insurance companies while other jurisdictions impose fewer requirements. In some jurisdictions, we must obtain licenses issued by governmental authorities to conduct local insurance business. These licenses may be subject to reserves and minimum capital and solvency tests. Jurisdictions may impose fines, censure, and/or criminal sanctions for violation of regulatory requirements. The 2024 amounts below are based on estimates.

Chubb's insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate. These regulations include restrictions that limit the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the local insurance regulatory authorities. The amount of dividends available to be paid in 2025 without prior approval totals $8.5 billion.

The statutory capital and surplus of our insurance subsidiaries met regulatory requirements for 2024, 2023, and 2022. The minimum amounts of statutory capital and surplus necessary to satisfy regulatory requirements was $44.4 billion and $41.0 billion for December 31, 2024 and 2023, respectively. These minimum regulatory capital requirements were significantly lower than the corresponding amounts required by the rating agencies which review Chubb’s insurance and reinsurance subsidiaries.

The following tables present the combined statutory capital and surplus and statutory net income of our Property and casualty and Life subsidiaries:
December 31
(in millions of U.S. dollars)20242023
Statutory capital and surplus
Property and casualty$48,253 $45,271 
Life $8,970 $7,278 
Year Ended December 31
(in millions of U.S. dollars)202420232022
Statutory net income
Property and casualty$11,118 $8,699 $4,028 
Life $548 $459 $1,425 


Several insurance subsidiaries follow accounting practices prescribed or permitted by the jurisdiction of domicile that differ from the applicable local statutory practice. The application of prescribed or permitted accounting practices does not have a material impact on Chubb's statutory surplus and income. As prescribed by the Restructuring discussed previously in Note 8, certain of our U.S. subsidiaries discount certain A&E liabilities, which increased statutory capital and surplus by approximately $108 million and $115 million at December 31, 2024 and 2023, respectively.

Federal Insurance Company (Federal), a direct subsidiary of Chubb INA Holdings LLC, has a permitted practice granted by the Indiana Department of Insurance that relates to its investment in a foreign affiliate. Under Statement of Statutory Accounting Principles No. 97, Investments in Subsidiary, Controlled and Affiliated Entities, in order for a reporting entity to admit its investments in foreign subsidiaries and affiliates, audited financial statements of the subsidiary or affiliate must be obtained to support the carrying value. Such financial statements must be prepared in accordance with U.S. GAAP, or alternatively, in accordance with the local statutory requirements in the subsidiary’s or affiliate’s country of domicile, with an audited footnote reconciliation of net income and shareholder’s equity as reported to a U.S. GAAP basis. With the explicit permission of the Indiana Department of Insurance, Federal obtains audited financial statements for its admitted foreign affiliate, which had an aggregate carrying value of approximately $72 million and $71 million at December 31, 2024 and 2023, respectively, prepared in accordance with their respective local statutory requirements and supplemented with a separate unaudited reconciliation of shareholder’s equity as reported to a U.S. GAAP basis.
v3.25.0.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent event
In January 2025, wildfires in California resulted in a significant catastrophe loss. At the time of this filing, our preliminary estimates indicate a net pre-tax loss of approximately $1.5 billion, which will be recorded as a first quarter of 2025 event.
v3.25.0.1
Schedule I
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]  
Schedule I: SUMMARY OF INVESTEMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES
SUMMARY OF INVESTMENTS – OTHER THAN INVESTMENTS IN RELATED PARTIES
December 31, 2024
(in millions of U.S. dollars)
Cost or
Amortized Cost, Net (1)
Fair ValueAmount at Which Shown in the Balance Sheet
Short-term investments$5,143 $5,142 $5,142 
Fixed maturities available-for-sale
U.S. Treasury / Agency2,498 2,341 2,341 
Non-U.S.36,288 35,838 35,838 
Corporate and asset-backed securities45,184 43,207 43,207 
Mortgage-backed securities29,158 27,248 27,248 
Municipal1,885 1,729 1,729 
Total fixed maturities available-for-sale115,013 110,363 110,363 
Private debt held-for-investment2,628 2,680 2,628 
Equity securities
Industrial, miscellaneous, and all other9,151 9,151 9,151 
Private equities (2)
14,369 14,369 14,369 
Other investments 8,597 8,597 8,597 
Total investments - other than investments in related parties$154,901 $150,302 $150,250 
(1)     Net of valuation allowance for expected credit losses.
(2)     Excludes $400 million of related party investments.
v3.25.0.1
Schedule II
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Schedule II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED FINANCIAL INFORMATION OF REGISTRANT

BALANCE SHEETS (Parent Company Only)
December 31December 31
(in millions of U.S. dollars)20242023
Assets
Investments in subsidiaries and affiliates on equity basis$64,141 $59,952 
Total investments64,141 59,952 
Cash383 77 
Due from subsidiaries and affiliates, net629 717 
Other assets13 12 
Total assets$65,166 $60,758 
Liabilities
Affiliated notional cash pooling programs$277 $594 
Accounts payable, accrued expenses, and other liabilities868 657 
Total liabilities1,145 1,251 
Shareholders' equity
Common Shares235 241 
Common Shares in treasury(3,524)(4,400)
Additional paid-in capital14,393 15,665 
Retained earnings61,561 54,810 
Accumulated other comprehensive income (loss)(8,644)(6,809)
Total Chubb shareholders' equity64,021 59,507 
Total liabilities and shareholders' equity$65,166 $60,758 
The condensed financial information should be read in conjunction with the Consolidated Financial Statements and notes thereto.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF OPERATIONS (Parent Company Only)
For the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars)202420232022
Revenues
Net investment income (loss) (1)
$(24)$(21)$83 
Equity in net income of subsidiaries and affiliates9,385 9,065 5,256 
Total revenues9,361 9,044 5,339 
Expenses
Administrative and other (income) expense74 72 65 
Integration expenses— — 10 
Income tax (benefit) expense15 (56)18 
Total expenses89 16 93 
Net income attributable to Chubb$9,272 $9,028 $5,246 
Comprehensive income (loss) attributable to Chubb$7,437 $12,404 $(3,865)
(1) Includes net investment income, interest income, and net realized gains (losses).
The condensed financial information should be read in conjunction with the Consolidated Financial Statements and notes thereto.

STATEMENTS OF CASH FLOWS (Parent Company Only)
For the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars)202420232022
Net cash flows from operating activities (1)
$1,755 $3,273 $7,831 
Cash flows from investing activities
Capital redemption (contribution)
2,000 — (4,046)
Net cash flows from (used for) investing activities
2,000 — (4,046)
Cash flows from financing activities
Dividends paid on Common Shares(1,436)(1,394)(1,375)
Common Shares repurchased(1,801)(2,411)(2,894)
Repayment of intercompany loans99 231 279 
Net proceeds from (contributions to) affiliated notional cash pooling programs (2)
(317)342 245 
Net cash flows used for financing activities(3,455)(3,232)(3,745)
Effect of foreign currency rate changes on cash6 (4)(1)
Net increase (decrease) in cash306 37 39 
Cash – beginning of year77 40 1 
Cash – end of year$383 $77 $40 
(1) Includes cash dividends received from subsidiaries of $1.8 billion, $3.3 billion, and $7.7 billion in 2024, 2023, and 2022, respectively.
(2) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 i) for additional information.
The condensed financial information should be read in conjunction with the Consolidated Financial Statements and notes thereto.
v3.25.0.1
Schedule IV
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]  
SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE
SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE
Premiums Earned
For the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars, except for percentages)		Direct AmountCeded To Other CompaniesAssumed From Other CompaniesNet AmountPercentage of Amount Assumed to Net
2024
Life insurance face amount in force(1)
$240,794 $43,626 $4,109 $201,277 2 %
Premiums:
Property and casualty$45,179 $9,702 $4,832 $40,309 12 %
Accident and health6,874 473 87 6,488 1 %
Life3,095 97 51 3,049 2 %
Total$55,148 $10,272 $4,970 $49,846 10 %
2023
Life insurance face amount in force$248,973 $55,665 $5,408 $198,716 3 %
Premiums:
Property and casualty$42,598 $9,549 $4,129 $37,178 11 %
Accident and health6,580 446 99 6,233 2 %
Life2,404 164 61 2,301 3 %
Total$51,582 $10,159 $4,289 $45,712 9 %
2022
Life insurance face amount in force$215,759 $50,105 $7,242 $172,896 4 %
Premiums:
Property and casualty$39,449 $9,678 $4,242 $34,013 12 %
Accident and health5,206 411 97 4,892 2 %
Life1,505 106 56 1,455 4 %
Total$46,160 $10,195 $4,395 $40,360 11 %
(1) The reduction in direct amount of life insurance face amount in force in 2024 versus 2023 reflects the non-renewal of certain credit-life business.
v3.25.0.1
Schedule VI
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]  
SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS
SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS
As of and for the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars)
Deferred Policy Acquisition CostsNet Reserves for Unpaid Losses and Loss ExpensesUnearned PremiumsNet Premiums EarnedNet Investment IncomeNet Losses and Loss Expenses Incurred Related toAmortization of Deferred Policy Acquisition Costs Net Paid Losses and Loss ExpensesNet Premiums Written
Current YearPrior Year
2024$3,687 $66,270 $23,504 $43,573 $4,927 $26,997 $(975)$8,053 $21,503 $45,142 
2023$3,346 $62,238 $22,051 $40,314 $4,181 $24,956 $(856)$7,391 $21,011 $41,896 
2022$2,877 $58,661 $19,713 $36,850 $3,233 $23,680 $(1,108)$6,480 $19,537 $38,112 
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net income attributable to Chubb $ 9,272 $ 9,028 $ 5,246
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Summary of significant accounting policies (Policies)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of presentation Basis of presentation
Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 19 for additional information.

The accompanying Consolidated Financial Statements, which include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, including internal reinsurance transactions, have been eliminated.

On July 1, 2023, Chubb discontinued equity method accounting for its investment in Huatai Group upon obtaining a controlling interest and applied consolidation accounting. Therefore, effective July 1, 2023, business activity for, and the financial position of, Huatai Group is reported at 100 percent on the Consolidated Financial Statements. At December 31, 2024, and December 31, 2023, our aggregate ownership interest in Huatai Group was approximately 85.5 percent and 76.5 percent, respectively. The relevant amounts attributable to shareholders other than Chubb are reflected in the Consolidated Financial Statements under the captions Noncontrolling interests, Net income (loss) attributable to noncontrolling interests, and Comprehensive income (loss) attributable to noncontrolling interests. Refer to Note 2 for additional information on the acquisition of Huatai Group.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Amounts included in the Consolidated Financial Statements reflect our best estimates and assumptions; actual amounts could differ materially from these estimates. Chubb's principal estimates include:
•unpaid loss and loss expense reserves, including long-tail asbestos and environmental (A&E) reserves and non-A&E casualty exposures;
•future policy benefits reserves;
•the valuation of value of business acquired (VOBA);
•the assessment of risk transfer for certain structured insurance and reinsurance contracts;
•reinsurance recoverable, including a valuation allowance for uncollectible reinsurance;
•the valuation of the investment portfolio and assessment of valuation allowance for expected credit losses;
•the valuation of deferred income taxes;
•the valuation and amortization of purchased intangibles; and
•the assessment of goodwill for impairment.
Premiums Premiums
Premiums are generally recorded as written upon inception of the policy. For multi-year policies for which premiums written are payable in annual installments, only the current annual premium is included as written at policy inception due to the ability of the insured/reinsured to commute or cancel coverage within the policy term. The remaining annual premiums are recorded as written at each successive anniversary date within the multi-year term.
For property and casualty (P&C) insurance and reinsurance products, premiums written are primarily earned on a pro-rata basis over the policy terms to which they relate. Unearned premiums represent the portion of premiums written applicable to the unexpired portion of the policies in force. For retrospectively-rated policies, written premiums are adjusted to reflect expected ultimate premiums consistent with changes to incurred losses, or other measures of exposure as stated in the policy, and earned over the policy coverage period.

Mandatory reinstatement premiums assessed on reinsurance policies are earned in the period of the loss event that gave rise to the reinstatement premiums. All remaining unearned premiums are recognized over the remaining coverage period.

Premiums from long-duration contracts such as certain traditional term life, whole life, endowment, and long-duration personal accident and health (A&H) policies are generally recognized as revenue when due from policyholders. Traditional life policies include those contracts with fixed and guaranteed premiums and benefits. Benefits and expenses are recognized in relation to insurance in force resulting in the recognition of profit over the life of the contracts.

Retroactive loss portfolio transfer (LPT) contracts in which the insured loss events occurred prior to contract inception are evaluated to determine whether they meet criteria for reinsurance accounting. If reinsurance accounting is appropriate, written premiums are fully earned and corresponding losses and loss expenses recognized at contract inception. These contracts can cause significant variances in gross premiums written, net premiums written, net premiums earned, and net incurred losses in the years in which they are written. Reinsurance contracts sold not meeting the criteria for reinsurance accounting are recorded using the deposit method.

Reinsurance premiums assumed are based on information provided by ceding companies supplemented by our own estimates of premium when we have not received ceding company reports. Estimates are reviewed and adjustments are recorded in the period in which they are determined. Premiums are earned over the coverage terms of the related reinsurance contracts and range from one year to three years.
Deferred policy acquisition costs (DAC) Deferred policy acquisition costs (DAC)
Deferred policy acquisition costs consist of commissions (direct and ceded), premium taxes, and certain underwriting costs related directly to the successful acquisition of new or renewal insurance contracts. Amortization is recorded in Policy acquisition costs in the Consolidated statements of operations.

Short-duration contracts
Policy acquisition costs are amortized ratably over the period the related premiums are earned. Policy acquisition costs are reviewed to determine if they are recoverable from future income including investment income. Unrecoverable policy acquisition costs are expensed in the period identified.

Long-duration contracts
Policy acquisition costs are grouped by contract type and issue year into cohorts consistent with the groupings used in estimating the associated liability and are expensed on a constant level basis over the expected term of the related contracts to approximate straight-line amortization at the contract level. The constant level basis used for amortization is the insurance in-force and is projected using the same assumptions used in estimating the liability for future policy benefits. If those projected assumptions change in future periods, they will be reflected in the cohort level amortization basis at that time. Unexpected changes in the in-force portfolio, due to variances in mortality and lapse experience, are recognized over the contract term. Changes in future mortality and lapse assumptions are also recognized prospectively over the remaining expected contract term.

Advertising costs are expensed as incurred except for direct-response campaigns that qualify for cost deferral. Qualified expenses include individual direct-response marketing campaigns where we can demonstrate the campaigns have specifically resulted in incremental sales to customers and such sales have probable future economic benefits. Any costs directly related to the marketing campaigns are deferred, included with other policy acquisition costs, and expensed as a component of Policy acquisition costs using the same amortization basis.
Value of business acquired (VOBA) Value of business acquired (VOBA)
As part of business combination accounting, a VOBA intangible asset is established upon the acquisition of blocks of long-duration contracts. This intangible represents the present value of estimated net cash flows for the in-force contracts as of the acquisition date. VOBA is amortized as a component of Policy acquisition costs in the Consolidated statements of operations in relation to the profit emergence of the underlying acquired contracts. The valuation of VOBA is based on many factors including
mortality, morbidity, persistency, investment yields, expenses, and discount rate. The VOBA intangible is tested for recoverability at least annually using a premium deficiency test. Unrecoverable VOBA is expensed in the period identified.
Reinsurance Reinsurance
Chubb assumes and cedes reinsurance with other insurance companies to provide greater diversification of business and minimize the net loss potential arising from large risks. Ceded reinsurance contracts do not relieve Chubb of its primary obligation to policyholders.

For both ceded and assumed reinsurance, risk transfer requirements must be met in order to account for a contract as reinsurance, principally resulting in the recognition of cash flows under the contract as premiums and losses. To meet risk transfer requirements, a reinsurance contract must include insurance risk, consisting of both underwriting and timing risk, and a reasonable possibility of a significant loss for the assuming entity. To assess risk transfer for certain contracts, Chubb generally develops expected discounted cash flow analyses at contract inception. Deposit accounting is used for contracts that do not meet risk transfer requirements.

Reinsurance recoverable includes balances due from reinsurance companies for paid and unpaid losses and loss expenses and future policy benefits that will be recovered from reinsurers, based on contracts in force. The method for determining the reinsurance recoverable on unpaid losses and loss expenses incurred but not reported (IBNR) involves actuarial estimates consistent with those used to establish the associated liability for unpaid losses and loss expenses as well as a determination of Chubb's ability to cede unpaid losses and loss expenses under the terms of the reinsurance agreement.

Reinsurance recoverable is presented net of a valuation allowance for uncollectible reinsurance determined based upon a review of the financial condition of reinsurers and other factors. The valuation allowance for uncollectible reinsurance is based on an estimate of the reinsurance recoverable balance that will ultimately be unrecoverable due to reinsurer insolvency, a contractual dispute, or any other reason. The valuation of this allowance includes several judgments including certain aspects of the allocation of reinsurance recoverable on IBNR claims by reinsurer and a default analysis to estimate uncollectible reinsurance. The primary components of the default analysis are reinsurance recoverable balances by reinsurer, net of collateral, and default factors used to determine the portion of a reinsurer's balance deemed uncollectible. The definition of collateral for this purpose requires some judgment and is generally limited to assets held in a Chubb-only beneficiary trust, letters of credit, and liabilities held with the same legal entity for which Chubb believes there is a contractual right of offset. The determination of the default factor is principally based on the financial strength rating of the reinsurer. Default factors require considerable judgment and are determined using the current financial strength rating, or rating equivalent, of each reinsurer as well as other key considerations and assumptions. Changes in the valuation allowance for uncollectible reinsurance recoverables are recorded in Losses and loss expenses in the Consolidated statements of operations. The more significant considerations to calculate the valuation allowance include, but are not necessarily limited to, the following:
•For reinsurers that maintain a financial strength rating from a major rating agency, and for which recoverable balances are considered representative of the larger population (i.e., default probabilities are consistent with similarly rated reinsurers and payment durations conform to averages), the financial rating is based on a published source and the default factor is based on published default statistics of a major rating agency applicable to the reinsurer's particular rating class. When a recoverable is expected to be paid in a brief period of time by a highly rated reinsurer, such as certain property catastrophe claims, a default factor may not be applied;
•For balances recoverable from reinsurers that are both unrated by a major rating agency and for which management is unable to determine a credible rating equivalent based on a parent, affiliate, or peer company, we determine a rating equivalent based on an analysis of the reinsurer that considers an assessment of the creditworthiness of the particular entity, industry benchmarks, or other factors as considered appropriate. We then apply the applicable default factor for that rating class. For balances recoverable from unrated reinsurers for which the ceded reserve is below a certain threshold, we generally apply a default factor of 11.2 percent, consistent with published statistics of a major rating agency;
•For balances recoverable from reinsurers that are either insolvent or under regulatory supervision, we establish a default factor and resulting valuation allowance for uncollectible reinsurance based on reinsurer-specific facts and circumstances. Upon initial notification of an insolvency, we generally recognize an expense for a substantial portion of all balances outstanding, net of collateral, through a combination of write-offs of recoverable balances and increases to the valuation allowance for uncollectible reinsurance. When regulatory action is taken on a reinsurer, we generally recognize a default factor by estimating an expected recovery on all balances outstanding, net of collateral. When sufficient credible information becomes available, we adjust the valuation allowance for uncollectible reinsurance by establishing a default factor pursuant to information received; and
•For other recoverables, management determines the valuation allowance for uncollectible reinsurance based on the specific facts and circumstances.

The methods used to determine the reinsurance recoverable balance and related valuation allowance for uncollectible reinsurance are regularly reviewed and updated, and any resulting adjustments are reflected in earnings in the period identified.

The methods used to determine the valuation allowance for uncollectible high deductible recoverable amounts and valuation allowance for insurance and reinsurance balances receivable are similar to the processes used to determine the valuation allowance for uncollectible reinsurance recoverable. For information on high deductible policies, refer to section k) Unpaid losses and loss expenses, below.

Prepaid reinsurance premiums represent the portion of premiums ceded to reinsurers applicable to the unexpired coverage terms of the reinsurance contracts in-force.
Investments Investments
Fixed maturities, equity securities, and short-term investments
Fixed maturities are primarily classified as available-for-sale (AFS) and are reported at fair value, net of a valuation allowance for credit losses, with changes in fair value recorded as a separate component of AOCI in Shareholders' equity.

Equity securities are reported at fair value with changes in fair value recorded in Net realized gains (losses) on the Consolidated statements of operations.

Short-term investments comprise securities due to mature within one year of the date of purchase and are recorded at fair value which typically approximates cost.

Interest, dividend income, and amortization of fixed maturity market premiums and discounts, related to these securities are recorded in Net investment income, net of investment management and custody fees, in the Consolidated statements of operations. Realized gains or losses on sales of investments are determined on a first-in, first-out basis.

For mortgage-backed securities and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised, as necessary. Any adjustments required due to the resultant change in effective yields and maturities are recognized prospectively. Prepayment fees or call premiums that are only payable when a security is called prior to its maturity are earned when received and reflected in Net investment income.

Valuation allowance for fixed income securities
Management evaluates expected credit losses (ECL) for AFS securities when fair value is below amortized cost. AFS securities are evaluated for potential credit loss on an individual security level, but the evaluation may use assumptions consistent with expectations of credit losses for a group of similar securities. If management has the intent to sell or will be required to sell the security before recovery, the entire impairment loss will be recorded through income to Net realized gains and losses. If management does not have the intent to sell or will not be required to sell the security before recovery, an allowance for credit losses is established and is recorded through income to Net realized gains and losses, and the non-credit loss portion is recorded through other comprehensive income.

Examples of criteria that are collectively evaluated to determine if a credit loss has occurred include the following:
•The extent to which the fair value is less than amortized cost;
•Adverse conditions related to the security, industry, or geographic area;
•Downgrades in the security's credit rating by a rating agency; and
•Failure of the issuer to make scheduled principal or interest payments.

AFS securities that meet any one of the criteria included above will be subject to a discounted cash flow analysis by comparing the present value of expected future cash flows with the amortized cost basis. Projected cash flows are driven primarily by assumptions regarding probability of default and the timing and amount of recoveries associated with defaults. Chubb developed the projected cash flows using market data, issuer-specific information, and credit ratings. In combination with contractual cash flows and the use of historical default and recovery data by Moody's Investors Service (Moody's) rating category, we generate expected cash flows using the average cumulative issuer-weighted global default rates by letter rating.
If the present value of expected future cash flows is less than the amortized cost, a credit loss exists and an allowance for credit losses will be recognized. If the present value of expected future cash flows is equal to or greater than the amortized cost basis, management will conclude an expected credit loss does not exist.

Management reviews credit losses and the valuation allowance for expected credit losses each quarter. When all or a portion of a fixed maturity security is identified to be uncollectible and written off, the valuation allowance for expected credit losses is reduced. In general, a security is considered uncollectible no later than when all efforts to collect contractual cash flows have been exhausted. Below are considerations for when a security may be deemed uncollectible:
•We have sufficient information to determine that the issuer of the security is insolvent;
•We receive notice that the issuer of the security has filed for bankruptcy, and the collectability is expected to be adversely impacted by the bankruptcy;
•The issuer of a security has violated multiple debt covenants;
•Amounts have been past due for a specified period of time with no response from the issuer;
•A significant deterioration in the value of the collateral has occurred; and
•We have received correspondence from the issuer of the security indicating that it does not intend to pay the contractual principal and interest.
Prior to the transfer of our entire held-to-maturity (HTM) portfolio to the AFS portfolio in 2023, HTM securities were evaluated for potential credit loss on a collective pool basis quarterly. Chubb pooled HTM securities and calculated the current expected credit loss for each pool using Moody's corporate bond default average, corporate bond recovery rate, and an economic cycle multiplier based on the leading economic index adjusted for a forward-looking economic outlook.
We elected to not measure an allowance for accrued investment income as uncollectible balances are written off in a timely manner, typically 30 to 45 days after uncollected balances are due.
Private debt held-for-investment
Private debt held-for-investment relates principally to investments in the funding of public and private projects that are mostly infrastructure related and were acquired as part of Huatai’s investment portfolio upon consolidation. They have stated interest rates and maturity dates with fixed or determinable payments. Private debt held-for-investment are carried at amortized cost, net of a valuation allowance for credit losses. Management evaluates current expected credit losses (CECL) for all Private debt held-for-investment each quarter on a collective pool basis using S&P's corporate bond default average, corporate bond recovery rate, and an economic cycle multiplier. Interest income is recorded when earned within Net investment income on the Consolidated statements of operations.

Private equities
Private equities principally consist of Investment funds, limited partnerships, and partially owned investment companies.

Investment funds and limited partnerships
Investment funds, limited partnerships, and all other investments over which Chubb cannot exercise significant influence, generally, when we own less than three percent of the investee's shares, are accounted for as follows:
•Income and expenses from these funds are reported within Net investment income.
•These funds are carried at net asset value, which approximates fair value with changes in fair value recorded in Net realized gains (losses) on the Consolidated statements of operations. Refer to Note 4 for a further discussion on net asset value.
•As a result of the timing of the receipt of valuation data from the investment managers, these investments are generally reported on a three-month lag.
•Sales of these investments are reported within Net realized gains (losses).
Partially-owned investment companies
Partially-owned investment companies are limited partnerships where our ownership interest is in excess of three percent and are accounted for under the equity method because Chubb exerts significant influence. These investments apply investment company accounting to determine operating results, and Chubb retains the investment company accounting in applying the equity method.
•This means that investment income, realized gains or losses, and unrealized gains or losses are included in the portion of equity earnings reflected in Other (income) expense.
•As a result of the timing of the receipt of valuation data from the investment managers, these investments are generally reported on a three-month lag.
Other investments
•Huatai’s asset management businesses create investment entities known as consolidated investment products which include mutual funds with primary holdings in fixed maturities. These securities are reported at fair value with changes in fair value reported through the Consolidated statements of operations within Net realized gains (losses) as required under investment company accounting standards.
•Fixed maturities supporting certain participating policy liabilities principally relate to the Huatai investment portfolio. These investments are reported at fair value with changes in fair value recorded through Net realized gains (losses) on the Consolidated statements of operations. We have elected to account for these investments using the fair value option so that changes in fair value of the fixed maturities are recorded in Net realized gains (losses), as opposed to a component within AOCI, to offset corresponding changes in policyholder liabilities within Policy benefits.
•Policy loans are carried at outstanding balance and interest income is reflected in Net investment income.
•Life insurance policies are carried at policy cash surrender value and income is reflected in Other (income) expense.
•Non-qualified separate account assets are supported by assets that do not qualify for separate account reporting under U.S. GAAP and are carried at fair value. Unrealized gains and losses on non-qualified separate account assets are reflected in Other (income) expense.

Investments in partially-owned insurance companies
Investments in partially-owned insurance companies primarily represent direct investments in which Chubb has significant influence and as such, meet the requirements for equity method accounting. Generally, we own twenty percent or more of the investee’s shares. We report our share of the net income or loss of the partially-owned insurance companies in Other (income) expense.

Securities lending program
Chubb participates in a securities lending program operated by a third-party banking institution whereby certain assets are loaned to qualified borrowers and from which we earn an incremental return which is recorded within Net investment income in the Consolidated statements of operations.

Borrowers provide collateral, in the form of either cash or approved securities, at a minimum of 102 percent of the fair value of the loaned securities. Each security loan is deemed to be an overnight transaction. Cash collateral is invested in a collateral pool which is managed by the banking institution. The collateral pool is subject to written investment guidelines with key objectives which include the safeguard of principal and adequate liquidity to meet anticipated redemptions. The fair value of the loaned securities is monitored on a daily basis, with additional collateral obtained or refunded as the fair value of the loaned securities changes. The fair value of the securities on loan is included in Fixed maturities available-for-sale and Equity securities in the Consolidated balance sheets. The collateral is held by the third-party banking institution, and the collateral can only be accessed in the event that the institution borrowing the securities is in default under the lending agreement. As a result of these restrictions, we consider our securities lending activities to be non-cash investing and financing activities. An indemnification agreement with the lending agent protects us in the event a borrower becomes insolvent or fails to return any of the securities on loan. The securities lending collateral is reported as a separate line in the Consolidated balance sheets with a related liability reflecting our obligation to return the collateral plus interest.
Repurchase agreements
Similar to securities lending arrangements, securities sold under repurchase agreements, whereby Chubb sells securities and repurchases them at a future date for a predetermined price, are accounted for as collateralized investments and borrowings and are recorded at the contractual repurchase amounts plus accrued interest. Assets to be repurchased are the same or substantially the same as the assets transferred, and the transferor, through right of substitution, maintains the right and ability to redeem the collateral on short notice. The fair value of the underlying securities is included in fixed maturities. In contrast to securities lending programs, the use of cash received is not restricted. We report the obligation to return the cash as Repurchase agreements in the Consolidated balance sheets and record the fees under these repurchase agreements within Interest expense on the Consolidated statements of operations.

Refer to Note 4 for a discussion on the determination of fair value for Chubb's various investment securities.
Consolidation of Variable interest entities (VIEs) Consolidation of Variable interest entities (VIEs)
Chubb consolidates entities in which it has a controlling interest or is a primary beneficiary of a VIE. Huatai's asset management businesses create investment entities known as consolidated investment products which include mutual funds with primary holdings in fixed maturities. While many investors may not be related parties, Huatai invests in these funds at various ownership percentages. We consolidate the VIEs if we are the primary beneficiary, which is generally when we hold an economic interest of 10 percent or more. The consolidation of VIEs requires us to record 100 percent of both the underlying assets and liabilities of the mutual funds within the Consolidated balance sheets as well as the profit and losses within the Consolidated statements of operations. The relevant amounts attributable to investors other than Chubb are reflected as Noncontrolling interests. Purchases and sales of investments by the consolidated VIEs are reported as operating activities on the Consolidated Statements of Cash Flows. Where Huatai's ownership in these consolidated investment products is less than 10 percent, we generally would not expect to be the primary beneficiary of these VIEs and would not consolidate. Our economic risk with respect to each investment in a consolidated investment product is limited to our equity ownership and any uncollected management and performance fees. Refer to Note 3 h) for additional information.
Derivative instruments Derivative instruments
Derivative instruments are carried at fair value in the Consolidated balance sheets in either Accounts payable, accrued expenses, and other liabilities or Other assets. We participate in these derivative instruments primarily to mitigate financial risks and manage certain investment portfolio risks and exposures, including assets and liabilities denominated in foreign currencies. We use derivative instruments including futures, options, swaps, and foreign currency forward contracts. Refer to Note 14 for additional information.

Changes in fair value of derivatives not designated as hedging instruments are included in Net realized gains (losses) and changes in fair value of futures contracts on equities related to our variable annuity reinsurance business are included in Market risk benefits gains (losses) in the Consolidated statements of operations.

We also invest in certain derivative instruments that are designated as hedging instruments and qualify for hedge accounting. These derivatives designated as hedging instruments must be highly effective in mitigating the designated changes in fair value or cash flows of the hedged item. We assess at the hedge's inception, and continue to qualitatively assess on a quarterly basis, whether the derivatives that are used in hedging transactions have been and are expected to be highly effective in offsetting changes in the hedged items. Derivatives designated as hedging instruments include cross-currency swaps designated as fair value hedges for foreign currency exposure associated with portions of our euro denominated debt and net investment hedges for foreign currency exposure in the net investments of certain foreign subsidiaries. Refer to Note 14 for additional information.

Changes in fair value of net investment hedges are recorded in Cumulative translation adjustments (CTA) within OCI. Changes in fair value of fair value hedges that principally offset the foreign currency remeasurement on the hedged debt is recorded within Net realized gains (losses) on the Consolidated statement of operations with the remaining change in fair value recorded in Other, within OCI.
Cash Cash
We have agreements with a third-party bank provider which implemented two international multi-currency notional cash pooling programs. In each program, participating Chubb entities establish deposit accounts in different currencies with the bank provider and each day the credit or debit balances in every account are notionally translated into a single currency (U.S. dollars) and then notionally pooled. The bank extends overdraft credit to any participating Chubb entity as needed, provided that the overall notionally-pooled balance of all accounts in each pool at the end of each day is at least zero. Any overdraft balances incurred under this program by a Chubb entity would be guaranteed by Chubb Limited (up to $300 million in the aggregate).
Our syndicated letter of credit facility allows for same day drawings to fund a net pool overdraft should participating Chubb entities overdraw contributed funds from the pool.

Restricted cash
Included in Cash is restricted cash of $261 million and $172 million at December 31, 2024 and 2023, respectively. Restricted cash 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.
Goodwill and other intangible assets Goodwill and Other intangible assets
Goodwill represents the excess of the cost of acquisitions over the fair value of net assets acquired and is not amortized. Goodwill is assigned at acquisition to the applicable reporting unit of the acquired entities giving rise to the goodwill. Goodwill impairment tests are performed annually or more frequently if circumstances indicate a possible impairment. For goodwill impairment testing, we use a qualitative assessment to determine whether it is more likely than not (i.e., more than a 50 percent probability) that the fair value of a reporting unit is greater than its carrying amount. If our assessment indicates it is more likely than not that carrying value exceeds fair value, we quantitatively estimate a reporting unit's fair value.

Indefinite lived intangible assets are not subject to amortization. Finite lived intangible assets are amortized over their useful lives, generally with an average original useful life of 25 years. Intangible assets are regularly reviewed for indicators of impairment. Impairment is recognized if the carrying amount is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and fair value.
Unpaid losses and loss expenses Unpaid losses and loss expenses
A liability is established for the estimated unpaid losses and loss expenses under the terms of Chubb's policies and agreements. Similar to premiums that are recognized as revenues over the coverage period of the policy, a liability for unpaid losses and loss expenses is recognized as expense when insured events occur over the coverage period of the policy. This liability includes a provision for both reported claims (case reserves) and incurred but not reported claims (IBNR reserves). IBNR reserve estimates are generally calculated by first projecting the ultimate cost of all losses that have occurred (expected losses), and then subtracting paid losses, case reserves, and loss expenses. The methods of determining such estimates and establishing the resulting liability are reviewed regularly and any adjustments are reflected in income in the period in which they become known. Future developments may result in losses and loss expenses materially greater or less than recorded amounts.

Except for net unpaid loss and loss expense reserves for certain structured settlements for which the timing and amount of future claim payments are reliably determinable and certain reserves for unsettled claims, Chubb does not discount its P&C loss reserves. The net undiscounted reserves related to structured settlements and certain reserves for unsettled claims are immaterial.

Included in Unpaid losses and loss expenses are liabilities for A&E claims and expenses. These unpaid losses and loss expenses are principally related to claims arising from remediation costs associated with hazardous waste sites and bodily-injury claims related to asbestos products and environmental hazards. The estimation of these liabilities is particularly sensitive to changes in the legal environment including specific settlements that may be used as precedents to settle future claims. However, Chubb does not anticipate future changes in laws and regulations in setting its A&E reserve levels.

Also included in Unpaid losses and loss expenses is the fair value adjustment of $60 million and $62 million at December 31, 2024 and 2023, respectively, principally related to Chubb Corp’s historical unpaid losses and loss expenses. The estimated fair value consists of the present value of the expected net unpaid loss and loss adjustment expense payments adjusted for an estimated risk margin. The estimated cash flows are discounted at a risk-free rate. The estimated risk margin varies based on the inherent risks associated with each type of reserve. The fair value is amortized through Amortization of purchased intangibles on the Consolidated statements of operations based on the estimated payout patterns of unpaid loss and loss expenses at the acquisition date.

Our loss reserves are presented net of contractual deductible recoverable amounts due from policyholders. Under the terms of certain high deductible policies which we offer, such as workers’ compensation and general liability, our customers are responsible to reimburse us for an agreed-upon dollar amount per claim. In nearly all cases we are required under such policies to pay covered claims first, and then seek reimbursement for amounts within the applicable deductible from our customers. We generally seek to mitigate this risk through collateral agreements.
Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves first reported in previous calendar years and excludes the effect of losses from the development of earned premiums from previous accident years.

For purposes of analysis and disclosure, management views prior period development to be changes in the nominal value of loss estimates from period to period, net of premium and profit commission adjustments on loss sensitive contracts. Prior period development generally excludes changes in loss estimates that do not arise from the emergence of claims, such as those related to uncollectible reinsurance, interest, unallocated loss adjustment expenses, or foreign currency. Accordingly, specific items excluded from prior period development include the following: gains/losses related to foreign currency remeasurement; losses recognized from the early termination or commutation of reinsurance agreements that principally relate to the time value of money; changes in the value of reinsurance business assumed reflected in losses incurred but principally related to the time value of money; and losses that arise from changes in estimates of earned premiums from prior accident years. Except for foreign currency remeasurement, which is included in Net realized gains (losses), these items are included in current year losses within Losses and loss expenses on the Consolidated statements of operations.
Future policy benefits Future policy benefits
For traditional and limited-payment contracts, contracts are grouped into cohorts by coverage type and issue year to determine a liability for future policy benefits. The future policy benefit liability (FPBL) is the present value of estimated future policy benefits to be paid to or on behalf of policyholders and certain related expenses less the present value of estimated future net premiums to be collected from policyholders and is accrued as premium revenue is recognized. The valuation of this liability requires management to make estimates and assumptions regarding expenses, mortality, and persistency. Estimates are primarily based on historical experience. Actual results could differ materially from these estimates.

The liability is adjusted for differences between actual and expected experience. With the exception of the expense assumption, we review our future cash flow assumptions at least annually to determine if the net premium ratio (NPR), the mechanism to record the liability as premium is earned, should be changed at that time. We have elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Each quarter, we update the cash flows expected over the entire life of each cohort for actual historical experience and projected future cash flows. These updated cash flows are used to calculate the revised NPR, which is used to derive an updated FPBL as of the beginning of the current reporting period, discounted at the original contract issuance discount rate. This amount is then compared to the carrying amount of the liability as of that same date, but before the updating of cash flow assumptions, to determine the current period change in FPBL. This current period change in the liability is the remeasurement gain or loss and is recorded in Policy benefits in the Consolidated statements of operations. In subsequent periods, the revised NPR is used to record the FPBL until future revisions become required.

For traditional and limited-payment contracts, the discount rate assumption is based on an upper-medium grade fixed-income instrument yield. An equivalent rate is derived based on A-credit-rated fixed-income instruments with similar duration to the liability. The discount rate assumption is updated quarterly and used to remeasure the liability at each reporting date, with the resulting change reflected in Other comprehensive income. For liability cash flows that are projected beyond the duration of market-observable A-credit-rated fixed-income instruments, we use the last market-observable yield level, as the basis for a linear interpolation to determine yield assumptions for durations that do not have market-observable yields.

Deferred profit liability
For limited-payment products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (DPL) and recorded as a component of Future policy benefits in the Consolidated balance sheets. Net premiums are measured using actual cash flows and future cash flow assumptions consistent with those used in the measurement of the liability for future policy benefits and remeasured quarterly. The DPL is amortized in proportion to the discounted in-force policies. Interest is accreted on the balance of the DPL using the discount rate consistent with the interest accretion on the FPBL. The recalculated DPL, including adjusted amortization through the current period, is compared to the current carrying amount and the difference is recognized as an adjustment to Policy benefits in the Consolidated statements of operations as a remeasurement gain or loss.
Market Risk Benefit Market Risk Benefits
Chubb reinsures various death and living benefit guarantees associated with variable annuities issued primarily in the United States, which meet the definition of Market risk benefits (MRB). These reinsurance contracts provide protection to the ceding entity from, and expose us to, other-than-nominal capital market risk. Market risk benefits are measured at fair value using a valuation model based on current net exposures, market data, our experience, and other factors. Changes in fair value are
recognized in Market risk benefits gains (losses) in the Consolidated statements of operations, except the change in fair value due to a change in the instrument-specific credit risk, which is recognized in other comprehensive income.

We generally receive a monthly premium during the accumulation phase of the covered annuities (in-force) based on a percentage of either the underlying accumulated account values or the underlying accumulated guaranteed values. Depending on an annuitant's age, the accumulation phase can last many years. To limit our exposure under these programs, all reinsurance treaties include annual or aggregate claim limits and many include an aggregate deductible.

The guarantees which are payable on death, referred to as guaranteed minimum death benefits (GMDB), principally cover shortfalls between accumulated account value at the time of an annuitant's death and either i) an annuitant's total deposits; ii) an annuitant's total deposits plus a minimum annual return; or iii) the highest accumulated account value attained at any policy anniversary date. In addition, a death benefit may be based on a formula specified in the variable annuity contract that uses a percentage of the growth of the underlying contract value.

Under reinsurance programs covering guaranteed living benefits (GLB), we assume the risk of guaranteed minimum income benefits (GMIB) associated with variable annuity contracts. The GMIB risk is triggered if, at the time the contract holder elects to convert the accumulated account value to a periodic payment stream (annuitize), the accumulated account value is not sufficient to provide a guaranteed minimum level of monthly income.
Separate Accounts and Policyholders' account balances Separate accounts
Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. Separate account liabilities primarily represent the policyholders’ account balances in separate account assets and are equal and offsetting to total separate account assets. The assets of each account are legally segregated and are not subject to claims that arise out of any Chubb’s business. Mortality, policy administration and surrender charges assessed against the accounts are included in Net premiums earned on the Consolidated statements of operations. The related investment performance of the separate account assets (including interest, dividends, realized gains and losses, and changes in unrealized gains and losses) generally accrue to the policyholders and are not included in our Consolidated statements of operations. Fees charged against the separate accounts are deferred and recorded as unearned revenue liabilities within Policyholders’ account balances on the Consolidated balance sheets until they are earned within Net premiums earned on the Consolidated statements of operations. Refer to section o) Policyholders’ account balances, below.

o) Policyholders' account balances
Policyholders' account balances represent a liability for investment contracts sold that do not meet the definition of an insurance contract, and certain of these contracts are sold with a guaranteed rate of return. Consideration received or paid is recorded as a deposit asset or liability in the balance sheet as opposed to recording premiums and losses in the statements of operations. The liability for policyholders' account balances equals accumulated policy account values, which consist of consideration received from the policyholder, plus any credited income, less any relevant charges. Also included within Policyholders' account balances is an unearned revenue liability which represents policy charges for services to be provided in future periods. The charges are deferred as incurred and are generally amortized over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs.

Certain of our long-duration contracts are supported by assets that do not qualify for separate account reporting under U.S. GAAP. These assets are classified as non-qualified separate account assets and reported in Other investments and the offsetting liabilities are reported in Policyholders’ account balances in the Consolidated balance sheets. Changes in the fair value of separate account assets that do not qualify for separate account reporting under U.S. GAAP are reported in Other (income) expense, and the offsetting movements in the liabilities are included in Policy benefits in the Consolidated statements of operations.
Property and Equipment Property and equipment
Property and equipment used in operations are capitalized and carried at cost less accumulated depreciation and are reported within Other assets in the Consolidated balance sheets. At December 31, 2024, property and equipment totaled $3.1 billion, consisting principally of capitalized software costs of $1.9 billion incurred to develop or obtain computer software for internal use and company-owned facilities of $431 million. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. For capitalized software, the estimated useful life is generally three years to five years (for security and analytics systems), but can be as long as 15 years (for systems of record such as our general ledger and processing systems such as our policy administration systems). For company-owned facilities the estimated useful life is 40 years. At December 31, 2023, property and equipment totaled $2.9 billion.
Foreign currency remeasurement and translation Foreign currency remeasurement and translation
The functional currency for each of our foreign operations is generally the currency of the local operating environment. Transactions in currencies other than a foreign operation's functional currency are remeasured into the functional currency, and the resulting foreign exchange gains and losses are reflected in Net realized gains (losses) in the Consolidated statements of operations. Functional currency assets and liabilities are translated into the reporting currency, U.S. dollars, using period end exchange rates and the related translation adjustments are recorded as a separate component of AOCI in Shareholders' equity. Functional statement of operations amounts expressed in functional currencies are translated using average exchange rates.
Administrative expenses Administrative expenses
Administrative expenses generally include all operating costs other than policy acquisition costs. The North America Commercial P&C Insurance segment manages and uses an in-house third-party claims administrator, ESIS Inc. (ESIS). ESIS performs claims management and risk control services for domestic and international organizations that self-insure P&C exposures as well as internal P&C exposures. The net operating income (loss) of ESIS is included within Administrative expenses in the Consolidated statements of operations and was $7 million, $(2) million, and $12 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Asset management and performance fee revenue and expenses Asset management and performance fee revenue and expensesHuatai's asset management companies recognize revenue and expenses from the management of third-party assets which are unrelated to Chubb's core insurance operations. These revenues include management fees, which are recognized in the period in which the services are performed, and asset performance fees, which are recognized to the extent it is probable that a significant reversal will not occur. These fees and expenses are included in Other (income) expense on the Consolidated statements of operations. Refer to Note 18 for additional information.
Income taxes Income taxes
Income taxes have been recorded related to those operations subject to income tax. Deferred tax assets and liabilities result from temporary differences between the amounts recorded in the Consolidated Financial Statements and the tax basis of our assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax law or rates is recognized in the period that includes the enactment date. A valuation allowance against deferred tax assets is recorded if it is more likely than not that all, or some portion, of the benefits related to these deferred tax assets will not be realized. The valuation allowance assessment considers tax planning strategies, where appropriate.

We recognize uncertain tax positions that are determined to be more likely than not of being sustained upon examination. Recognized income tax positions are measured at the largest amount that has a greater than 50 percent likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

Chubb's policy for releasing income tax effects from AOCI is to release them as investments are sold or mature and as pension and postretirement benefit liabilities are extinguished. Refer to Note 12 for additional information.
Earnings per share Earnings per share
Basic earnings per share is calculated using the weighted-average shares outstanding, including participating securities with non-forfeitable rights to dividends such as unvested restricted stock. All potentially dilutive securities, including stock options are excluded from the basic earnings per share calculation. In calculating diluted earnings per share, the weighted-average shares outstanding is increased to include all potentially dilutive securities. Basic and diluted earnings per share are calculated by dividing Net income attributable to Chubb by the applicable weighted-average number of shares outstanding during the year.
Share-based compensation Share-based compensation
Chubb measures and records compensation cost for all share-based payment awards at grant-date fair value. Compensation costs are recognized for vesting of share-based payment awards with only service conditions on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award were, in substance, multiple awards. For retirement-eligible participants, compensation costs for certain share-based payment awards are recognized immediately at the date of grant. Refer to Note 16 for additional information.
Cigna integration expenses Integration expenses
Direct costs related to business combinations, principally Cigna's business in Asia, were expensed as incurred. Integration expenses were $39 million, $69 million, and $48 million for the years ended December 31, 2024, 2023, and 2022, respectively, and include all internal and external costs directly related to the integration activities. These expenses principally
consisted of third-party consulting fees, employee-related retention costs, and other professional and legal fees related to the acquisition.
New accounting pronouncements New accounting pronouncements
Accounting guidance adopted in 2024
Improvements to Reportable Segment Disclosures
In November 2023, the Financial Accounting Standards Board (FASB) issued guidance that requires expanded reportable segment disclosures, primarily related to significant segment expenses which are regularly provided to the chief operating decision maker. We retrospectively adopted this disclosure-only guidance for our annual 2024 reporting, and modified the presentation of our segment financial information disclosure. Refer to Note 19 for additional information.

Accounting guidance not yet adopted
Improvements to Income Tax Disclosures
In December 2023, the FASB issued guidance that requires expanded income tax disclosures, including the disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid. The guidance is effective for our 2025 annual reporting. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.

Disaggregation of Income Statement Expenses
In November 2024, the FASB issued guidance that requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our 2027 annual reporting, and interim reporting periods beginning in 2028. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.
v3.25.0.1
Fair vale measurements (Fair Value Measurement Policy) (Policies)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurement, Policy
Fair value of financial assets and financial liabilities is estimated based on the framework established in the fair value accounting guidance. The guidance defines fair value as the price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants and establishes a three-level valuation hierarchy based on the reliability of the inputs. The fair value hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data.
 
The three levels of the hierarchy are as follows:

•Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets;
•Level 2 – Includes, among other items, inputs other than quoted prices that are observable for the asset or liability such as
interest rates and yield curves, quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active; and
•Level 3 – Inputs that are unobservable and reflect management’s judgments about assumptions that market participants
would use in pricing an asset or liability.
v3.25.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the fair value of the assets acquired and liabilities assumed on July 1, 2023.

Huatai Group assets and liabilities consolidatedJuly 1
(in millions of U.S. dollars)2023
Assets
Investments and Cash$13,346 
Accrued investment income60 
Insurance and reinsurance balances receivable277 
Reinsurance recoverable on losses and loss expenses581 
Reinsurance recoverable on future policy benefits27 
Value of business acquired309 
Goodwill and intangible assets5,113 
Other assets748 
Total assets$20,461 
Liabilities
Unpaid losses and loss expenses$831 
Unearned premiums800 
Future policy benefits2,351 
Policyholders' account balances4,014 
Insurance and reinsurance balances payable644 
Accounts payable, accrued expenses, and other liabilities682 
Deferred tax liabilities232 
Repurchase agreements1,269 
Total liabilities$10,823 
Net acquired assets, including goodwill, attributable to Chubb4,428 
Net acquired assets, attributable to noncontrolling interests5,210 
Net acquired assets, including goodwill$9,638 
Schedule of Business Acquisitions, by Acquisition The following table summarizes the results of the acquired Huatai Group operations since the acquisition date that have been included within our Consolidated statements of operations:
July 1, 2023 to
(in millions of U.S. dollars)
December 31, 2023
Total revenues$739 
Net loss$(30)
Net loss attributable to Chubb
$(17)
The following table summarizes the results of the acquired Cigna business in Asia that were included within our Consolidated statements of operations for the year ended December 31, 2022:

July 1, 2022 to
(in millions of U.S. dollars)December 31, 2022
Total revenues$1,507 
Net income$140 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The purchase price allocation to intangible assets recorded in connection with the Huatai Group acquisition and their related useful lives at July 1, 2023, are as follows:

(in millions of U.S. dollars)AmountWeighted-average useful life
Definite life
  Agency distribution relationships$332 
20 years
Asset management customer contracts94 
16 years
  Unearned premium reserves (UPR) intangible asset95 
3 years
  Land use rights569 
31 years
Technology45 
6 years
Indefinite life
  Trademarks398 Indefinite
  Asset management mutual funds122 Indefinite
Total identified intangible assets$1,655 
Business Acquisition, Pro Forma Information
The following table presents supplemental unaudited pro forma consolidated information for the periods indicated as though the acquisition of a controlling majority interest in Huatai Group that occurred on July 1, 2023, had instead occurred on January 1, 2022. 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 of a controlling majority interest been consummated on January 1, 2022, 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.

Pro forma:
For the Year Ended December 31
(in millions of U.S. dollars)20232022
Net premiums earned$46,502 $41,903 
Total revenues$50,550 $44,936 
Net income$8,850 $5,290 
Net income attributable to Chubb$8,859 $5,267 
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.

Pro forma:For the Year Ended December 31
(in millions of U.S. dollars)
2022
Net premiums earned$41,884 
Total revenues$44,605 
Net income$5,533 
v3.25.0.1
Investments (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule Of Amortized Cost and Fair Value of Available-for-sale Securities
December 31, 2024Amortized
Cost		Valuation AllowanceGross Unrealized AppreciationGross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency$2,498 $— $3 $(160)$2,341 
Non-U.S.36,311 (23)753 (1,203)35,838 
Corporate and asset-backed securities45,231 (47)287 (2,264)43,207 
Mortgage-backed securities29,158 — 69 (1,979)27,248 
Municipal1,885 — 7 (163)1,729 
$115,083 $(70)$1,119 $(5,769)$110,363 

December 31, 2023Amortized
Cost		Valuation AllowanceGross
Unrealized
Appreciation		Gross Unrealized DepreciationFair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency$3,721 $— $13 $(144)$3,590 
Non-U.S.35,918 (49)592 (1,297)35,164 
Corporate and asset-backed securities44,695 (104)390 (2,151)42,830 
Mortgage-backed securities23,720 (3)143 (1,802)22,058 
Municipal3,074 — 10 (155)2,929 
$111,128 $(156)$1,148 $(5,549)$106,571 
Schedule Of Fixed Maturities By Contractual Maturity
The following table presents fixed maturities by contractual maturity:

December 31
20242023 
(in millions of U.S. dollars)Net Carrying ValueFair ValueNet Carrying ValueFair Value
Available-for-sale
Due in 1 year or less$4,507 $4,507 $4,729 $4,729 
Due after 1 year through 5 years33,446 33,446 33,573 33,573 
Due after 5 years through 10 years26,901 26,901 28,480 28,480 
Due after 10 years18,261 18,261 17,731 17,731 
83,115 83,115 84,513 84,513 
Mortgage-backed securities27,248 27,248 22,058 22,058 
$110,363 $110,363 $106,571 $106,571 
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 continuously been in an unrealized loss position:

 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2024Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency$418 $(7)$1,477 $(153)$1,895 $(160)
Non-U.S.6,630 (138)12,023 (874)18,653 (1,012)
Corporate and asset-backed securities10,069 (194)13,290 (1,259)23,359 (1,453)
Mortgage-backed securities10,490 (170)11,987 (1,794)22,477 (1,964)
Municipal
349 (9)1,012 (150)1,361 (159)
Total AFS fixed maturities$27,956 $(518)$39,789 $(4,230)$67,745 $(4,748)

 0 – 12 MonthsOver 12 MonthsTotal
December 31, 2023Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss		Fair ValueGross
Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency$463 $(9)$2,504 $(135)$2,967 $(144)
Non-U.S.2,464 (43)15,971 (957)18,435 (1,000)
Corporate and asset-backed securities2,866 (51)20,334 (1,194)23,200 (1,245)
Mortgage-backed securities1,659 (58)13,831 (1,706)15,490 (1,764)
Municipal
1,117 (15)1,310 (137)2,427 (152)
Total AFS fixed maturities$8,569 $(176)$53,950 $(4,129)$62,519 $(4,305)
Debt Securities, Available-for-sale, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended December 31
(in millions of U.S. dollars)20242023
Available-for-sale
Valuation allowance for expected credit losses - beginning of year$156 $169 
Provision for expected credit loss118 214 
Write-offs charged against the expected credit loss(6)(5)
Recovery of expected credit loss(198)(222)
Valuation allowance for expected credit losses - end of year$70 $156 
Held-to-maturity
Valuation allowance for expected credit losses - beginning of year$— $34 
Recovery of expected credit loss— (34)
Valuation allowance for expected credit losses - end of year$— $— 
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of year$4 $— 
Provision for expected credit loss2 4 
Recovery of expected credit loss(2)— 
Valuation allowance for expected credit losses - end of year$4 $4 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended December 31
(in millions of U.S. dollars)20242023
Available-for-sale
Valuation allowance for expected credit losses - beginning of year$156 $169 
Provision for expected credit loss118 214 
Write-offs charged against the expected credit loss(6)(5)
Recovery of expected credit loss(198)(222)
Valuation allowance for expected credit losses - end of year$70 $156 
Held-to-maturity
Valuation allowance for expected credit losses - beginning of year$— $34 
Recovery of expected credit loss— (34)
Valuation allowance for expected credit losses - end of year$— $— 
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of year$4 $— 
Provision for expected credit loss2 4 
Recovery of expected credit loss(2)— 
Valuation allowance for expected credit losses - end of year$4 $4 
Private debt held-for-investment, allowance for credit loss
The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:
Year Ended December 31
(in millions of U.S. dollars)20242023
Available-for-sale
Valuation allowance for expected credit losses - beginning of year$156 $169 
Provision for expected credit loss118 214 
Write-offs charged against the expected credit loss(6)(5)
Recovery of expected credit loss(198)(222)
Valuation allowance for expected credit losses - end of year$70 $156 
Held-to-maturity
Valuation allowance for expected credit losses - beginning of year$— $34 
Recovery of expected credit loss— (34)
Valuation allowance for expected credit losses - end of year$— $— 
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of year$4 $— 
Provision for expected credit loss2 4 
Recovery of expected credit loss(2)— 
Valuation allowance for expected credit losses - end of year$4 $4 
Schedule Of Net Realized Gains (Losses) And The Losses Included In Net Realized Gains (Losses) And OCI
The following table presents the components of net realized gains (losses) and the change in net unrealized appreciation (depreciation) of investments:
 Year Ended December 31
(in millions of U.S. dollars)202420232022
Fixed maturities:
Gross realized gains$132 $208 $619 
Gross realized losses(535)(656)(1,379)
Other investments - Fixed maturities (2)
602 (12)— 
Net (provision for) recovery of expected credit losses86 43 (154)
Impairment (1)
(94)(64)(135)
Total fixed maturities191 (481)(1,049)
Equity securities (2)
194 (38)(230)
Private equities (less than 3 percent ownership)124 70 (31)
Foreign exchange(223)(183)397 
Investment and embedded derivative instruments(189)(53)(43)
Other derivative instruments(4)(10)(11)
Other24 88 (118)
Net realized gains (losses) (pre-tax)$117 $(607)$(1,085)
Change in net unrealized appreciation (depreciation) on investments (pre-tax):
Fixed maturities available-for-sale$(251)$3,563 $(10,583)
Fixed maturities held-to-maturity— (125)(15)
Other— 10 20 
Income tax (expense) benefit(110)(328)1,043 
Change in net unrealized appreciation (depreciation) on investments (after-tax)$(361)$3,120 $(9,535)
(1)Relates to certain securities we intended to sell and securities written to market entering default.
(2)In 2024, Other investments - Fixed maturities and Equity securities includes $275 million and $(22) million, respectively, of realized gains (losses) related to investments measured under the fair value option.
Gain (Loss) on Securities
Realized gains and losses from Other investments, Equity securities and Private equities from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:

Year Ended December 31, 2024
(in millions of U.S. dollars)Other InvestmentsEquity SecuritiesPrivate EquitiesTotal
Net gains (losses) recognized during the period$602 $194 $124 $920 
Less: Net gains (losses) recognized from sales of securities4 25 — 29 
Unrealized gains (losses) recognized for securities still held at reporting date$598 $169 $124 $891 
Year Ended December 31, 2023
(in millions of U.S. dollars)Other InvestmentsEquity Securities
Private Equities
Total
Net gains (losses) recognized during the period$(12)$(38)$70 $20 
Less: Net gains (losses) recognized from sales of securities
— (68)— (68)
Unrealized gains (losses) recognized for securities still held at reporting date$(12)$30 $70 $88 
Year Ended December 31, 2022
(in millions of U.S. dollars)Equity Securities
Private Equities
Total
Net gains (losses) recognized during the period$(230)$(31)$(261)
Less: Net gains (losses) recognized from sales of securities
409 — 409 
Unrealized gains (losses) recognized for securities still held at reporting date$(639)$(31)$(670)
Schedule Of Other Investments
December 31
(in millions of U.S. dollars)20242023
Fixed maturities (1) (2)
$6,265 $3,773 
Life insurance policies518 463 
Policy loans941 651 
Non-qualified separate account assets (3)
256 258 
Other617 382 
Total$8,597 $5,527 
(1)Includes fixed maturities related to consolidated VIEs of $4.6 billion and $3.8 billion at December 31, 2024 and 2023, respectively. Refer to Note 1 g) to the Consolidated Financial Statements for additional information on the consolidation of VIEs.
(2)2024 includes $1.7 billion of fixed maturities measured at fair value under the fair value option.
(3)Non-qualified separate account assets comprise mutual funds, supported by assets that do not qualify for separate account reporting under U.S. GAAP.
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments for private equities:
December 31
 Expected Liquidation
Period of Underlying Assets		20242023
(in millions of U.S. dollars)Fair ValueMaximum
Future Funding
Commitments		Fair ValueMaximum
Future Funding
Commitments
Financial
2 to 10 Years
$1,265 $281 $1,241 $364 
Real assets
2 to 13 Years
1,974 547 2,137 445 
Distressed
2 to 8 Years
1,257 679 1,206 936 
Private credit
3 to 8 Years
295 285 331 298 
Traditional
2 to 14 Years
9,674 4,650 8,873 4,167 
Vintage
1 to 3 Years
64 — 72 — 
Investment fundsNot Applicable240 — 218 — 
$14,769 $6,442 $14,078 $6,210 
Schedule Of Partially Owned Insurance Companies
Schedule Of Sources Of Net Investment Income
Year Ended December 31
(in millions of U.S. dollars)2024 2023 2022 
Fixed maturities (1)
$5,535 $4,619 $3,594 
Short-term investments181 199 81 
Other interest income 80 69 42 
Equity securities125 119 99 
Private equities (less than 3 percent ownership)112 55 63 
Other investments103 71 41 
Gross investment income (1)
6,136 5,132 3,920 
Investment expenses(206)(195)(178)
Net investment income (1)
$5,930 $4,937 $3,742 
(1) Includes amortization expense related to fair value adjustment of acquired invested assets
$(16)$(21)$(41)
Schedule Of Components Of Restricted Assets
The following table presents the components of restricted assets: 
December 31
(in millions of U.S. dollars)20242023
Trust funds$8,170 $8,482 
Assets pledged under repurchase agreements2,890 2,924 
Deposits with U.S. regulatory authorities2,487 2,544 
Deposits with non-U.S. regulatory authorities and other4,659 4,464 
Total$18,206 $18,414 
v3.25.0.1
Fair value measurements (Tables)
 12 Months Ended
Dec. 31, 2024
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 
December 31, 2024Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$1,765 $576 $— $2,341 
Non-U.S.— 35,234 604 35,838 
Corporate and asset-backed securities— 40,316 2,891 43,207 
Mortgage-backed securities— 27,245 3 27,248 
Municipal— 1,729 — 1,729 
1,765 105,100 3,498 110,363 
Equity securities (1)
4,053 — 120 4,173 
Short-term investments3,156 1,972 14 5,142 
Other investments (2)
573 6,783 — 7,356 
Securities lending collateral— 1,445 — 1,445 
Investment derivatives41 — — 41 
Derivatives designated as hedging instruments — 146 — 146 
Other derivative instruments35 — — 35 
Separate account assets6,165 66 — 6,231 
Total assets measured at fair value (1) (2) (3)
$15,788 $115,512 $3,632 $134,932 
Liabilities:
Investment derivatives$303 $— $— $303 
Derivatives designated as hedging instruments— 116 — 116 
Other derivative instruments— 2 — 2 
Market risk benefits (4)
— — 607 607 
Total liabilities measured at fair value$303 $118 $607 $1,028 
(1)Excluded from the table above is a fund of $4,978 million, measured using NAV as a practical expedient.
(2)Excluded from the table above are other investments of $1,241 million, principally policy loans measured using NAV as a practical expedient.
(3)Excluded from the table above are private equities of $14,769 million, measured using NAV as a practical expedient.
(4)Refer to Note 11 for additional information on Market risk benefits.

 
December 31, 2023Level 1Level 2Level 3Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency$2,911 $679 $— $3,590 
Non-U.S.— 34,472 692 35,164 
Corporate and asset-backed securities— 40,208 2,622 42,830 
Mortgage-backed securities— 22,051 7 22,058 
Municipal— 2,929 — 2,929 
2,911 100,339 3,321 106,571 
Equity securities3,368 — 87 3,455 
Short-term investments1,915 2,633 3 4,551 
Other investments (1)
589 4,236 — 4,825 
Securities lending collateral— 1,299 — 1,299 
Investment derivatives54 — — 54 
Derivatives designated as hedging instruments
— 136 — 136 
Separate account assets5,482 91 — 5,573 
Total assets measured at fair value (1) (2)
$14,319 $108,734 $3,411 $126,464 
Liabilities:
Investment derivatives$136 $— $— $136 
Derivatives designated as hedging instruments
— 128 — 128 
Other derivative instruments37 5 — 42 
Market risk benefits (3)
— — 771 771 
Total liabilities measured at fair value$173 $133 $771 $1,077 
(1)Excluded from the table above are other investments of $702 million, principally policy loans measured using NAV as a practical expedient.
(2)Excluded from the table above are private equities of $14,078 million, measured using NAV as a practical expedient.
(3)Refer to Note 11 for additional information on Market risk benefits.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3). Excluded from the following tables is the reconciliation of Market risk benefits, refer to Note 11 for additional information:
 Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Year Ended December 31, 2024Non-U.S.Corporate and asset-backed securitiesMortgage-backed securities
(in millions of U.S. dollars)
Balance, beginning of year$692 $2,622 $7 $87 $3 
Transfers into Level 32 57 — — — 
Transfers out of Level 3(7)(9)(54)— — 
Change in Net Unrealized Gains (Losses) in OCI
7 12 — — — 
Net Realized Gains (Losses)
(13)(15)— 8 — 
Purchases262 1,042 54 43 20 
Sales(99)(250)— (18)(1)
Settlements(240)(568)(4)— (8)
Balance, end of year$604 $2,891 $3 $120 $14 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$— $(3)$— $7 $— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$(2)$(2)$— $— $(1)

 Available-for-Sale Debt SecuritiesEquity
securities		Short-term investments
Year Ended December 31, 2023Non-U.S.Corporate and asset-backed securities Mortgage-backed securities
(in millions of U.S. dollars)
Balance, beginning of year
$564 $2,449 $11 $90 $3 
Transfers into Level 321 30 — — — 
Transfers out of Level 3(22)(26)(15)— — 
Change in Net Unrealized Gains (Losses) in OCI
13 28 — — (1)
Net Realized Gains (Losses)
(4)(17)— (7)(1)
Purchases
258 681 15 24 5 
Sales(82)(81)— (20)(3)
Settlements(56)(442)(4)— — 
Balance, end of year$692 $2,622 $7 $87 $3 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$(1)$(5)$— $(7)$— 
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$7 $12 $— $— $— 
 Available-for-Sale Debt SecuritiesShort-term investments
Year Ended December 31, 2022Non-U.S.Corporate and asset-backed securitiesMortgage-backed securitiesEquity
securities
(in millions of U.S. dollars)
Balance, beginning of year$633 $2,049 $26 $77 $7 
Transfers into Level 323 47 — 1 — 
Transfers out of Level 3(23)(97)(9)— — 
Change in Net Unrealized Gains (Losses) in OCI
(53)(80)— — — 
Net Realized Gains (Losses)
(6)(14)— 15 (2)
Purchases
156 921 4 9 3 
Sales(59)(85)— (12)— 
Settlements(107)(292)(10)— (5)
Balance, end of year$564 $2,449 $11 $90 $3 
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date
$(2)$(9)$— $14 $(1)
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date
$(53)$(84)$— $— $— 
Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value
December 31, 2024Fair ValueNet Carrying Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment
$— $— $2,680 $2,680 $2,628 
Total assets$— $— $2,680 $2,680 $2,628 
Liabilities:
Repurchase agreements$— $2,731 $— $2,731 $2,731 
Short-term debt— 797 — 797 800 
Long-term debt— 12,979 — 12,979 14,379 
Hybrid debt— 479 — 479 419 
Total liabilities$— $16,986 $— $16,986 $18,329 

December 31, 2023Fair ValueNet Carrying Value
(in millions of U.S. dollars)Level 1Level 2Level 3Total
Assets:
Private debt held-for-investment$— $— $2,560 $2,560 $2,553 
Total assets$— $— $2,560 $2,560 $2,553 
Liabilities:
Repurchase agreements$— $2,833 $— $2,833 $2,833 
Short-term debt— 1,431 — 1,431 1,460 
Long-term debt— 11,924 — 11,924 13,035 
Hybrid debt— 365 — 365 308 
Total liabilities$— $16,553 $— $16,553 $17,636 
v3.25.0.1
Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2024
Reinsurance Disclosures [Abstract]  
Schedule of direct, assumed and ceded premiums The following table presents direct, assumed, and ceded premiums:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Premiums written
Direct$56,867 $52,969 $47,511 
Assumed5,136 4,557 4,467 
Ceded(10,535)(10,165)(10,258)
Net$51,468 $47,361 $41,720 
Premiums earned
Direct$55,148 $51,582 $46,160 
Assumed4,970 4,289 4,395 
Ceded(10,272)(10,159)(10,195)
Net$49,846 $45,712 $40,360 
Schedule of Reinsurance Recoverable on Ceded Insurance Reinsurance Recoverable on Ceded Reinsurance
December 31, 2024December 31, 2023
(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$17,734 $242 $17,884 $285 
Reinsurance recoverable on paid losses and loss expenses2,043 68 2,068 82 
Reinsurance recoverable on losses and loss expenses$19,777 $310 $19,952 $367 
Reinsurance recoverable on policy benefits$289 $— $280 $— 
(1)     Net of valuation allowance for uncollectible reinsurance.
Reinsurance Recoverable, Allowance for Credit Loss
The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on losses and loss expenses:
Year Ended December 31
(in millions of U.S. dollars)20242023
Valuation allowance for uncollectible reinsurance - beginning of year$367 $351 
Provision for (release of) uncollectible reinsurance
(15)47 
Write-offs charged against the valuation allowance(41)(32)
Foreign exchange revaluation(1)1 
Valuation allowance for uncollectible reinsurance - end of year$310 $367 
Reinsurance Recoverable, Credit Quality Indicator
The following tables present a listing, at December 31, 2024, of the categories of Chubb's reinsurers:
December 31, 2024Gross Reinsurance Recoverable on Losses and Loss ExpensesValuation allowance for Uncollectible Reinsurance% of Gross Reinsurance Recoverable
(in millions of U.S. dollars, except for percentages)
Categories
Largest reinsurers$10,278 $116 1.1 %
Other reinsurers rated A- or better5,557 67 1.2 %
Other reinsurers rated lower than A- or not rated441 27 6.1 %
Pools422 10 2.4 %
Structured settlements489 8 1.6 %
Captives2,704 13 0.5 %
Other196 69 35.2 %
Total$20,087 $310 1.5 %
v3.25.0.1
Deferred acquisition costs (Tables)
 12 Months Ended
Dec. 31, 2024
Deferred Policy Acquisition Costs Disclosures [Abstract]  
Deferred Policy Acquisition Costs
The following tables present a roll-forward of deferred policy acquisition costs on long-duration contracts included in the Life Insurance segment:

Year Ended December 31, 2024
(in millions of U.S. dollars)Term LifeUniversal LifeWhole LifeA&HOtherTotal
Balance – beginning of period $402 $674 $534 $1,301 $274 $3,185 
Capitalizations201 156 387 630 82 1,456 
Amortization expense(121)(81)(37)(182)(27)(448)
Other (including foreign exchange)(13)(27)(14)(68)(5)(127)
Balance – end of period$469 $722 $870 $1,681 $324 $4,066 
Overseas General Insurance segment excluded from table605 
Total deferred policy acquisition costs on long-duration contracts
$4,671 
Deferred policy acquisition costs on short-duration contracts3,687 
Total deferred policy acquisition costs$8,358 

Year Ended December 31, 2023
(in millions of U.S. dollars)Term LifeUniversal LifeWhole LifeA&HOtherTotal
Balance – beginning of period $324 $639 $392 $891 $268 $2,514 
Capitalizations176 129 159 564 36 1,064 
Amortization expense(100)(80)(23)(137)(29)(369)
Other (including foreign exchange)2 (14)6 (17)(1)(24)
Balance – end of period$402 $674 $534 $1,301 $274 $3,185 
Overseas General Insurance segment excluded from table621 
Total deferred policy acquisition costs on long-duration contracts
$3,806 
Deferred policy acquisition costs on short-duration contracts3,346 
Total deferred policy acquisition costs$7,152 
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill roll-forward by business segment
The following table presents a roll-forward of Goodwill by segment:
(in millions of U.S. dollars)North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal ReinsuranceLife Insurance Chubb Consolidated
Balance at December 31, 2022$6,945 $2,230 $134 $4,605 $371 $1,943 $16,228 
Purchase price adjustments— — — 8 — (10)(2)
Consolidation of Huatai Group— — — 562 — 2,832 3,394 
Foreign exchange revaluation and other1 1 — 87 — (23)66 
Balance at December 31, 2023$6,946 $2,231 $134 $5,262 $371 $4,742 $19,686 
Acquisition of Healthy Paws256 — — — — — 256 
Measurement-period adjustments— — — — — 65 65 
Foreign exchange revaluation(34)(13)— (215)— (166)(428)
Balance at December 31, 2024 (1)
$7,168 $2,218 $134 $5,047 $371 $4,641 $19,579 
(1)Includes $499 million attributable to noncontrolling interests.
Schedule of Changes in VOBA
The following table presents a roll-forward of VOBA:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Balance, beginning of year$3,674 $3,702 $235 
Acquisition of Cigna's business in Asia— — 3,633 
Consolidation of Huatai Group— 309 — 
Amortization of VOBA (1)
(240)(281)(149)
Foreign exchange revaluation and other(211)(56)(17)
Balance, end of year$3,223 $3,674 $3,702 
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.
Schedule of expected pre-tax amortization related to VOBA for the next five years
The following table presents, as of December 31, 2024, the expected estimated pre-tax amortization expense related to VOBA at current foreign currency exchange rates, for the next five years:

For the Years Ending December 31Total amortization of VOBA
(in millions of U.S. dollars)
2025$207 
2026182 
2027165 
2028151 
2029140 
Total$845 
Schedule of Other Intangible Assets
December 31
(in millions of U.S. dollars)20242023
Subject to amortization (primarily agency distribution relationships and renewal rights)
$2,900 $3,267 
Not subject to amortization (primarily trademarks)
3,477 3,508 
Total$6,377 $6,775 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The following table presents, as of December 31, 2024, the expected estimated pre-tax amortization expense of purchased intangibles, at current foreign currency exchange rates, for the next five years:

For the Years Ending December 31
(in millions of U.S. dollars)Total amortization of purchased intangibles
Amortization of Huatai UPR intangible asset (1)
Amortization of Huatai land use rights (2)
Total amortization
2025$298 $16 $12 $326 
2026279 7 12 298 
2027259 3 12 274 
2028247 — 13 260 
2029215 — 13 228 
Total$1,298 $26 $62 $1,386 
(1)Recognized in Policy acquisition costs in the Consolidated statements of operations.
(2)Recognized in Other (income) expense in the Consolidated statements of operations.
v3.25.0.1
Unpaid losses and loss expenses, and Future policy benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]  
Schedule Of Unpaid Losses And Loss Expenses Roll Forward
Chubb establishes reserves for the estimated unpaid ultimate liability for losses and loss expenses under the terms of its policies and agreements. Reserves include estimates for both claims that have been reported and for IBNR claims, and include estimates of expenses associated with processing and settling these claims. Reserves are recorded in Unpaid losses and loss expenses in the Consolidated balance sheets. While we believe that our reserves for unpaid losses and loss expenses at December 31, 2024, are adequate, new information or trends may lead to future developments in incurred loss and loss expenses significantly greater or less than the reserves provided. Any such revisions could result in future changes in estimates of losses or reinsurance recoverable and would be reflected in our results of operations in the period in which the estimates are changed.
The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Gross unpaid losses and loss expenses, beginning of year$80,122 $75,747 $72,330 
Reinsurance recoverable on unpaid losses (1)
(17,884)(17,086)(16,132)
Net unpaid losses and loss expenses, beginning of year62,238 58,661 56,198 
Net losses and loss expenses incurred in respect of losses occurring in:
Current year26,997 24,956 23,680 
Prior years (2)
(975)(856)(1,108)
Total26,022 24,100 22,572 
Net losses and loss expenses paid in respect of losses occurring in:
Current year8,681 8,248 7,331 
Prior years12,822 12,763 12,206 
Total21,503 21,011 19,537 
Consolidation of Huatai Group— 405 — 
Foreign currency revaluation and other(487)83 (572)
Net unpaid losses and loss expenses, end of year66,270 62,238 58,661 
Reinsurance recoverable on unpaid losses (1)
17,734 17,884 17,086 
Gross unpaid losses and loss expenses, end of year$84,004 $80,122 $75,747 
(1)     Net of valuation allowance for uncollectible reinsurance.
(2)    Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $119 million, $83 million, and $232 million for 2024, 2023, and 2022, respectively.
Reconciliation of Claims Development to Liability [Table Text Block]
The following table presents a reconciliation of the loss development tables to the liability for unpaid losses and loss expenses in the consolidated balance sheet:

Reconciliation of Reserve Balances to Liability for Unpaid Loss and Loss Expenses
(in millions of U.S. dollars)December 31, 2024
Presented in the loss development tables:
  North America Commercial P&C Insurance — Workers' Compensation$10,195 
  North America Commercial P&C Insurance — Liability22,401 
  North America Commercial P&C Insurance — Other Casualty2,764 
  North America Commercial P&C Insurance — Non-Casualty3,572 
  North America Personal P&C Insurance4,182 
  Overseas General Insurance — Casualty8,639 
  Overseas General Insurance — Non-Casualty3,907 
  Global Reinsurance — Casualty1,328 
  Global Reinsurance — Non-Casualty540 
Excluded from the loss development tables:
  Other6,673 
Net unpaid loss and allocated loss adjustment expense64,201 
Ceded unpaid loss and allocated loss adjustment expense:
  North America Commercial P&C Insurance — Workers' Compensation1,090 
  North America Commercial P&C Insurance — Liability7,564 
  North America Commercial P&C Insurance — Other Casualty1,148 
  North America Commercial P&C Insurance — Non-Casualty1,022 
  North America Personal P&C Insurance529 
  Overseas General Insurance — Casualty2,986 
  Overseas General Insurance — Non-Casualty1,880 
  Global Reinsurance — Casualty137 
  Global Reinsurance — Non-Casualty83 
  Other1,524 
Ceded unpaid loss and allocated loss adjustment expense17,963 
Unpaid unallocated loss adjustment expenses1,840 
Unpaid losses and loss expenses$84,004 
Claims Development tables [Table Text Block]
North America Commercial P&C Insurance — Workers' Compensation — Long-tail
This product line has a broad mix of exposures across industries as well as a mix of policy coverages. Types of coverage include risk management business predominantly with high deductible policies, loss sensitive business (i.e., retrospectively-rated policies), business fronted for captives, as well as excess and primary guaranteed cost coverages.

The triangle below shows all loss and allocated expense development for the workers' compensation product line. In our prior period development disclosure, we exclude any loss development where there is a directly related premium adjustment. For workers' compensation, changes in the exposure base due to payroll audits will drive changes in ultimate losses. In addition, we record involuntary pool assumptions (premiums and losses) on a lagged basis. Both of these items will influence the development in the triangle, particularly the first prior accident year, and are included in the reconciliation table presented on page F-60.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31 As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,282 $1,259 $1,276 $1,279 $1,217 $1,154 $1,128 $1,092 $1,057 $1,032 $257 50 
20161,366 1,361 1,383 1,378 1,269 1,206 1,177 1,162 1,117 299 51 
20171,412 1,380 1,399 1,393 1,376 1,176 1,121 1,069 329 50 
20181,359 1,361 1,379 1,384 1,384 1,221 1,175 381 52 
20191,390 1,383 1,400 1,409 1,406 1,297 447 48 
20201,367 1,388 1,409 1,408 1,395 690 32 
20211,348 1,330 1,372 1,370 618 36 
20221,344 1,407 1,435 769 39 
20231,371 1,413 798 38 
20241,380 981 33 
Total$12,683 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$116 $301 $418 $501 $564 $606 $628 $645 $665 $679 
2016122 326 452 529 584 621 653 683 707 
2017120 313 437 516 564 601 626 648 
2018130 329 451 528 597 641 681 
2019143 341 467 575 640 692 
2020111 282 390 466 520 
2021120 331 458 552 
2022131 332 472 
2023129 358 
2024147 
Total$5,456 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$2,968 
Accident years 2015 - 2024 from tables above7,227 
All Accident years$10,195 
North America Commercial P&C Insurance — Liability — Long-tail
This line consists of primary and excess general liability exposures, medical liability, and professional lines, including directors and officers (D&O) liability, errors and omissions (E&O) liability, employment practices liability (EPL), fidelity bonds, and fiduciary liability.

The primary and excess general liability business represents the largest part of these exposures. The former includes both monoline and commercial package liability. The latter includes a substantial proportion of commercial umbrella, excess and high excess business, where loss activity can produce significant volatility in the loss triangles at later ages within an accident year (and sometimes across years) due to the size of the limits afforded and the complex nature of the underlying losses.

This line includes management and professional liability products provided to a wide variety of clients, from national accounts to small firms along with private and not-for-profit organizations, distributed through brokers, agents, wholesalers, and MGAs. Many of these coverages, particularly D&O and E&O, are typically written on a claims-made form. While most of the coverages are underwritten on a primary basis, there are significant amounts of excess exposure with large policy limits.

Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$3,546 $3,694 $3,803 $3,959 $3,926 $3,720 $3,694 $3,562 $3,606 $3,587 $293 27 
20163,520 3,582 3,678 3,790 3,787 3,759 3,751 3,655 3,693 324 27 
20173,310 3,485 3,566 3,617 3,539 3,428 3,487 3,517 446 26 
20183,362 3,479 3,681 3,813 3,894 3,910 3,987 586 28 
20193,440 3,613 3,851 4,043 4,051 4,007 824 30 
20204,095 3,821 3,914 3,972 3,839 1,124 24 
20214,310 4,343 4,434 4,532 1,984 25 
20224,556 4,561 4,656 2,689 26 
20234,696 4,900 3,406 30 
20245,135 4,617 28 
Total$41,853 
North America Commercial P&C Insurance — Liability — Long-tail (continued)
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$138 $603 $1,201 $1,849 $2,283 $2,523 $2,739 $2,916 $3,074 $3,171 
2016171 661 1,333 1,972 2,330 2,591 2,818 2,979 3,105 
2017160 615 1,158 1,696 1,998 2,320 2,624 2,866 
2018189 752 1,299 1,771 2,332 2,779 3,068 
2019175 667 1,243 1,885 2,384 2,753 
2020151 588 1,146 1,696 2,269 
2021173 608 1,198 1,927 
2022144 648 1,278 
2023196 827 
2024195 
Total$21,459 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$2,007 
Accident years 2015 - 2024 from tables above20,394 
All Accident years$22,401 
This product line consists of the remaining commercial casualty coverages such as automobile liability and aviation as well as our foreign casualty exposures (mainly auto, general liability and employer responsibility coverages) on U.S.-based multinational accounts. The paid and reported data are impacted by some catastrophe loss activity.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$485 $468 $499 $513 $456 $453 $461 $456 $455 $450 $12 15 
2016503 500 526 523 480 479 469 473 466 13 16 
2017530 564 576 615 603 590 602 609 19 17 
2018534 562 573 579 575 605 625 13 17 
2019605 635 684 742 755 766 38 17 
2020639 632 655 637 613 68 11 
2021674 709 746 762 188 15 
2022781 800 846 243 22 
2023843 882 432 21 
2024883 676 13 
Total$6,902 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$47 $137 $214 $303 $369 $393 $410 $422 $430 $432 
201652 145 246 323 374 398 424 437 441 
201765 175 312 380 445 496 538 560 
201874 169 270 365 471 532 580 
201970 189 318 464 618 684 
202054 156 273 400 480 
202160 176 293 439 
202282 234 399 
202381 248 
202485 
Total$4,348 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$210 
Accident years 2015 - 2024 from tables above2,554 
All Accident years$2,764 
This product line represents first party commercial product lines that are short-tailed in nature, such as property, inland marine, ocean marine, surety, and A&H. There is a wide diversity of products, primary and excess coverages, and policy sizes. During this ten-year period, this product line was impacted by natural catastrophes mainly in the 2017 and 2018 accident years, and in accident year 2020 by direct COVID.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,726 $1,735 $1,641 $1,629 $1,596 $1,581 $1,584 $1,588 $1,586 $1,587 $(1)545 
20161,899 1,879 1,789 1,769 1,805 1,817 1,813 1,815 1,808 13 650 
20172,695 2,599 2,496 2,513 2,504 2,514 2,500 2,490 44 764 
20182,042 2,229 2,165 2,157 2,165 2,156 2,144 — 904 
20192,042 2,027 1,950 1,940 1,917 1,921 12 1,044 
20203,133 2,937 2,721 2,680 2,658 41 1,126 
20212,936 2,820 2,625 2,544 53 865 
20223,042 2,941 2,806 155 904 
20233,066 2,876 460 965 
20243,583 1,561 853 
Total$24,417 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$723 $1,336 $1,480 $1,548 $1,564 $1,566 $1,579 $1,579 $1,579 $1,583 
2016842 1,495 1,646 1,721 1,748 1,772 1,783 1,784 1,791 
2017975 2,080 2,295 2,385 2,399 2,422 2,442 2,445 
20181,023 1,817 2,008 2,064 2,108 2,132 2,135 
20191,026 1,669 1,796 1,853 1,879 1,894 
20201,386 2,256 2,462 2,541 2,575 
20211,084 2,098 2,319 2,438 
20221,048 2,186 2,491 
20231,217 2,131 
20241,367 
Total$20,850 
North America Commercial P&C Insurance — Non-Casualty — Short-tail (continued)
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$5 
Accident years 2015 - 2024 from tables above3,567 
All Accident years$3,572 
North America Personal P&C Insurance — Short-tail
Chubb provides personal lines coverages for high-net-worth individuals and families in North America including homeowners, automobile, valuable articles (including fine art), umbrella liability, and recreational marine insurance offered through independent regional agents and brokers. During this ten-year period, this segment was also impacted by natural catastrophes, mainly in the 2017 and 2018 accident years.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$2,482 $2,536 $2,547 $2,530 $2,550 $2,556 $2,553 $2,555 $2,552 $2,561 $19 148 
20162,428 2,523 2,533 2,471 2,459 2,452 2,460 2,462 2,468 16 154 
20173,022 3,057 2,990 2,986 2,986 2,995 3,005 3,006 9 163 
20182,995 3,023 3,089 3,104 3,125 3,114 3,115 20 170 
20192,941 2,979 2,980 2,972 2,951 2,971 47 157 
20202,914 2,622 2,620 2,577 2,577 59 123 
20213,019 2,871 2,958 2,971 147 131 
20223,093 2,947 2,938 277 120 
20233,396 3,065 537 114 
20243,657 1,826 88 
Total$29,329 
North America Personal P&C Insurance — Short-tail (continued)
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$1,491 $2,073 $2,259 $2,380 $2,466 $2,495 $2,520 $2,530 $2,537 $2,533 
20161,446 2,042 2,201 2,303 2,359 2,386 2,417 2,435 2,439 
20171,690 2,509 2,656 2,788 2,858 2,925 2,966 2,978 
20181,918 2,536 2,693 2,851 2,965 3,031 3,066 
20191,660 2,426 2,605 2,712 2,817 2,879 
20201,328 1,985 2,218 2,359 2,433 
20211,581 2,364 2,577 2,695 
20221,406 2,271 2,470 
20231,484 2,241 
20241,449 
Total$25,183 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$36 
Accident years 2015 - 2024 from tables above4,146 
All Accident years$4,182 
This product line comprises D&O liability, E&O liability, financial institutions (including crime/fidelity coverages), and non-U.S. general liability as well as aviation and political risk. Exposures are located around the world, including Europe, Latin America, and Asia. Approximately 45 percent of Chubb Overseas General business is generated by European accounts, exclusive of Lloyd's market. There is some U.S. exposure in Casualty from multinational accounts and in financial lines for Lloyd's market. The financial lines coverages are typically written on a claims-made form, while general liability coverages are typically on an occurrence basis and comprises a mix of primary and excess businesses.

Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,092 $1,182 $1,209 $1,231 $1,213 $1,159 $1,143 $1,158 $1,158 $1,147 $67 40 
20161,127 1,220 1,282 1,308 1,298 1,306 1,240 1,253 1,265 126 42 
20171,113 1,210 1,256 1,302 1,268 1,303 1,268 1,268 109 43 
20181,208 1,257 1,316 1,357 1,313 1,292 1,289 107 44 
20191,277 1,342 1,362 1,349 1,308 1,227 148 43 
20201,644 1,565 1,485 1,498 1,278 415 35 
20211,579 1,625 1,649 1,653 791 37 
20221,714 1,761 1,932 1,121 38 
20231,862 1,888 1,293 38 
20242,002 1,650 31 
Total$14,949 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$76 $259 $453 $622 $736 $812 $884 $915 $946 $985 
2016117 299 492 632 747 837 956 979 1,006 
201788 292 488 638 796 921 974 1,035 
2018103 305 459 595 711 859 966 
2019114 308 432 634 710 817 
202099 265 417 516 638 
2021108 262 422 590 
202280 277 510 
202377 276 
2024131 
Total$6,954 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$644 
Accident years 2015 - 2024 from tables above7,995 
All Accident years$8,639 
This product line comprises commercial fire, marine (predominantly cargo), surety, personal automobile (in Latin America, and Asia), personal cell phones, personal residential (including high net worth), energy, and construction. In general, these lines have relatively stable payment and reporting patterns although they are impacted by natural catastrophes mainly in the 2017, 2018, and 2022 accident years. For the Chubb Overseas General non-casualty book, Europe, exclusive of Lloyd's market, makes up about one third, Latin America makes up about one quarter, and Asia makes up about one fifth.
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31 2024
(in millions of U.S. dollars)UnauditedNet IBNR Reserves
Reported Claims (in thousands)
Accident Year2015201620172018201920202021202220232024
2015$1,763 $1,877 $1,854 $1,825 $1,809 $1,803 $1,785 $1,785 $1,780 $1,787 $11 556 
20161,867 1,859 1,845 1,824 1,828 1,859 1,857 1,844 1,825 10 568 
20172,018 2,059 2,045 2,028 2,052 2,049 2,016 2,053 38 577 
20181,969 2,054 2,018 1,993 1,962 1,952 1,931 25 613 
20191,990 2,008 1,949 1,937 1,934 1,912 (10)632 
20202,319 2,189 2,067 2,017 1,989 82 534 
20212,407 2,321 2,208 2,185 2 543 
20222,664 2,626 2,535 14 615 
20232,847 2,757 342 615 
20243,141 847 607 
Total$22,115 
Overseas General Insurance — Non-Casualty — Short-tail (continued)
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$764 $1,394 $1,610 $1,685 $1,706 $1,733 $1,750 $1,753 $1,752 $1,757 
2016905 1,506 1,687 1,753 1,776 1,785 1,790 1,794 1,799 
2017955 1,687 1,850 1,920 1,959 2,017 1,994 1,994 
2018905 1,578 1,766 1,829 1,844 1,854 1,861 
2019953 1,576 1,756 1,819 1,851 1,872 
2020979 1,560 1,700 1,811 1,810 
2021920 1,654 1,922 2,005 
20221,090 1,960 2,237 
20231,039 1,861 
20241,141 
Total$18,337 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$129 
Accident years 2015 - 2024 from tables above3,778 
All Accident years$3,907 
This product line includes proportional and excess coverages in general, automobile liability, professional liability, medical malpractice, and workers' compensation, with exposures located around the world. In general, reinsurance exhibits less stable development patterns than primary business. In particular, general casualty reinsurance and excess coverages are long-tailed and can be very volatile.
Global Reinsurance — Casualty — Long-tail (continued)
Net Incurred Loss and Allocated Loss Adjustment Expenses
Years Ended December 31As of December 31
 2024
(in millions of U.S. dollars)UnauditedNet
IBNR
Reserves
Accident Year2015201620172018201920202021202220232024
2015$281 $286 $296 $297 $305 $301 $305 $308 $308 $309 $8 
2016219 223 231 230 239 239 244 251 252 10 
2017210 211 216 213 214 214 221 224 7 
2018239 242 249 246 249 256 261 12 
2019233 242 237 237 234 241 27 
2020242 246 237 237 232 30 
2021278 281 286 274 75 
2022294 296 292 116 
2023274 286 170 
2024337 252 
Total$2,708 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses
Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$89 $158 $190 $216 $231 $248 $264 $273 $281 $288 
201657 112 141 157 173 190 207 217 228 
201746 99 121 138 153 173 186 196 
201841 95 124 147 168 195 217 
201939 89 115 138 162 182 
202041 98 124 148 168 
202135 87 119 147 
202239 86 122 
202330 69 
202430 
Total$1,647 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$267 
Accident years 2015 - 2024 from tables above1,061 
All Accident years$1,328 
This product line includes property, property catastrophe, marine, credit/surety, mortgage, A&H and energy. This product line is impacted by natural catastrophes, particularly in the 2017, 2018, 2020, 2021, 2022, and 2024 accident years. Of the non-catastrophe book, the mixture of business varies by year with approximately 89 percent of loss on proportional treaties in treaty year 2015 and after. This percentage has increased over time with the proportion being approximately 76 percent for treaty years 2015-2017 growing to an average of 94 percent for treaty years 2018 to 2024, with the remainder being written on an excess of loss basis.
Net Incurred Loss and Allocated Loss Adjustment ExpensesAs of December 31
 2024
Years Ended December 31
(in millions of U.S. dollars)UnauditedNet
IBNR
Reserves
Accident Year2015201620172018201920202021202220232024
2015$144 $152 $158 $158 $151 $156 $154 $154 $154 $153 $— 
2016174 179 182 184 181 178 178 178 178 1 
2017394 420 450 448 452 455 454 453 7 
2018276 283 285 281 286 280 277 3 
2019128 126 124 118 114 114 (1)
2020208 252 276 278 278 17 
2021340 350 353 356 21 
2022345 311 290 27 
2023180 175 45 
2024391 193 
Total$2,665 
Net Cumulative Paid Loss and Allocated Loss Adjustment Expenses

Years Ended December 31
(in millions of U.S. dollars)Unaudited
Accident Year2015201620172018201920202021202220232024
2015$56 $102 $130 $140 $144 $148 $149 $150 $150 $150 
201655 127 153 164 169 173 173 174 175 
2017191 321 399 413 426 433 439 441 
201894 247 262 265 269 272 272 
201935 79 93 101 103 107 
202062 176 214 231 242 
2021157 277 307 320 
202273 194 233 
202336 92 
2024107 
Total$2,139 
Net Liabilities for Loss and Allocated Loss Adjustment Expenses
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$14 
Accident years 2015 - 2024 from tables above526 
All Accident years$540 
Supplementary PPD [Table Text Block]
North America Commercial P&C Insurance — Workers' Compensation — Long-tail (continued)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(151)
Accident years 2015 - 2024 from tables above(222)
All Accident years$(373)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$69 
Accident years 2015 - 2024 from tables above346 
All Accident years$415 
North America Commercial P&C Insurance — Other-Casualty — Long-tail (continued)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(4)
Accident years 2015 - 2024 from tables above103 
All Accident years$99 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$18 
Accident years 2015 - 2024 from tables above(452)
All Accident years$(434)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(11)
Accident years 2015 - 2024 from tables above(290)
All Accident years$(301)
Overseas General Insurance — Casualty — Long-tail (continued)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$75 
Accident years 2015 - 2024 from tables above(102)
All Accident years$(27)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(11)
Accident years 2015 - 2024 from tables above(250)
All Accident years$(261)
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$(7)
Accident years 2015 - 2024 from tables above8 
All Accident years$1 
Supplementary Information: (Favorable)/ Adverse Prior Period Development
(in millions of U.S. dollars)December 31, 2024
Accident years prior to 2015$— 
Accident years 2015 - 2024 from tables above(28)
All Accident years$(28)
Schedule of Historical Claims [Table Text Block]
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage10 %16 %10 %7 %5 %4 %3 %2 %2 %1 %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage4 %12 %15 %16 %12 %9 %7 %5 %4 %3 %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage10 %17 %18 %17 %15 %8 %6 %3 %1 %— %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage44 %37 %9 %4 %1 %1 %1 %— %— %— %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage53 %25 %7 %4 %3 %2 %1 %— %— %— %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage7 %13 %13 %12 %9 %9 %7 %3 %2 %3 %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage44 %33 %10 %4 %1 %1 %— %— %— %— %
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage17 %20 %11 %9 %7 %8 %7 %4 %3 %2 %
Global Reinsurance — Non-Casualty — Short-tail (continued)
Supplementary Information: Average Annual Percentage Payout of Net Incurred Claims by Age, as of December 31, 2024 (Unaudited)
Age in Years1 2 3 4 5 6 7 8 9 10 
Percentage32 %38 %13 %4 %3 %2 %1 %— %— %— %
Supplementary PPD Reconciliation [Table Text Block]
The following table presents a reconciliation of the loss development triangles above to prior period development (PPD):
Components of PPD
Year Ended December 31, 2024 (in millions of U.S. dollars)
(favorable)/unfavorable		2015 - 2023 accident years (implied PPD per loss triangles)Accident years prior to 2015
Other (1)
PPD on loss reserves RIPs, Expense adjustments, and earned premiumsTotal
North America Commercial P&C Insurance
Long-tail$227 $(86)$(194)$(53)$71 $18 
Short-tail(452)18 (6)(440)(6)(446)
(225)(68)(200)(2)(493)65 (3)(428)
North America Personal P&C Insurance (Short-tail)(290)(11)(4)(305)— (305)
Overseas General Insurance
Long-tail(102)75 1 (26)— (26)
Short-tail(250)(11)(3)(264)— (264)
(352)64 (2)(290)— (290)
Global Reinsurance
Long-tail8 (7)(2)(1)1 — 
Short-tail(28)— — (28)3 (25)
(20)(7)(2)(29)4 (25)
Subtotal$(887)$(22)$(208)$(1,117)$69 $(1,048)
North America Agricultural Insurance (Short-tail)$(170)$66 $(104)
Corporate (Long-tail)296 — 296 
Consolidated PPD$(991)(4)$135 $(856)
(1)        Other includes the impact of foreign exchange.
(2)     Includes favorable development of $39 million related to our Alternative Risk Solutions business (U.S. and Bermuda) and an adjustment to exclude $89 million in unfavorable development in the workers' compensation line, associated with an increase in exposure for which additional premiums were collected; the remaining difference relates to a number of other items, none of which are individually material.
(3)     Includes premium returns associated with our Alternative Risk Solutions business, which is excluded from the triangles.
(4)     Includes favorable development of $16 million related to long duration International A&H business.
Prior Period Development, by Segment [Table Text Block]
Years Ended December 31
(in millions of U.S. dollars, except for percentages)		Long-tailShort-tailTotal
% of beginning net unpaid reserves (1)
2024
North America Commercial P&C Insurance$18 $(446)$(428)0.7 %
North America Personal P&C Insurance— (305)(305)0.5 %
North America Agricultural Insurance— (104)(104)0.2 %
Overseas General Insurance(26)(264)(290)0.5 %
Global Reinsurance— (25)(25)— %
Corporate296 — 296 0.5 %
Total$288 $(1,144)$(856)1.4 %
2023
North America Commercial P&C Insurance$(86)$(408)$(494)0.8 %
North America Personal P&C Insurance— (134)(134)0.2 %
North America Agricultural Insurance— (18)(18)— %
Overseas General Insurance(50)(326)(376)0.6 %
Global Reinsurance7 (35)(28)— %
Corporate277 — 277 0.5 %
Total$148 $(921)$(773)1.3 %
2022
North America Commercial P&C Insurance$(229)$(333)$(562)1.0 %
North America Personal P&C Insurance— (186)(186)0.3 %
North America Agricultural Insurance— (61)(61)0.1 %
Overseas General Insurance(65)(383)(448)0.8 %
Global Reinsurance(7)29 22 — %
Corporate 359 — 359 0.6 %
Total$58 $(934)$(876)1.6 %
(1)     Calculated based on the beginning of period consolidated net unpaid losses and loss expenses.
Schedule Of Asbestos Environmental Loss Roll Forward and by segment The following table presents a roll-forward of consolidated A&E loss reserves including allocated loss expense reserves for A&E exposures, and the valuation allowance for uncollectible paid and unpaid reinsurance recoverables:
AsbestosEnvironmentalTotal
(in millions of U.S. dollars)GrossNetGrossNetGrossNet
Balance at December 31, 2021$1,226 $800 $402 $302 $1,628 $1,102 
Incurred activity87 55 125 77 212 132 (1)
Paid activity(215)(152)(115)(69)(330)(221)
Balance at December 31, 20221,098 703 412 310 1,510 1,013 
Incurred activity180 120 88 63 268 183 (1)
Paid activity(258)(169)(105)(82)(363)(251)
Balance at December 31, 20231,020 654 395 291 1,415 945 
Incurred activity176 126 74 47 250 173 (1)
Paid activity(232)(172)(90)(61)(322)(233)
Balance at December 31, 2024$964 $608 $379 $277 $1,343 $885 
(1)    Excludes unallocated loss expenses and the net activity reflects third-party reinsurance other than the aggregate excess of loss reinsurance provided by National Indemnity Company (NICO) to Westchester Specialty (see Westchester Specialty section below).

The A&E net loss reserves including allocated loss expense reserves and valuation allowance for uncollectible reinsurance at December 31, 2024 and 2023, shown in the table above comprises:
December 31
(in millions of U.S. dollars)20242023
Brandywine operations$502 $570 
Westchester Specialty86 89 
Chubb Corp258 241 
Other, mainly Overseas General Insurance39 45 
Total$885 $945 
Liability for Future Policy Benefit, Activity
The following tables present a roll-forward of the liability for future policy benefits included in the Life Insurance segment:

Present Value of Expected Net PremiumsFor the Year Ended December 31, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$1,590 $3,950 $10,432 $64 $16,036 
Beginning balance at original discount rate1,992 3,945 10,692 64 16,693 
Effect of changes in cash flow assumptions(141)178 417 (4)450 
Effect of actual variances from expected experience11 (2)(139)— (130)
Adjusted beginning of period balance1,862 4,121 10,970 60 17,013 
Issuances221 1,211 2,162 86 3,680 
Interest accrual58 128 540 5 731 
Net premiums collected (1)
(242)(1,086)(1,483)(40)(2,851)
Other (including foreign exchange)(80)(71)(690)13 (828)
Ending balance at original discount rate1,819 4,303 11,499 124 17,745 
Effect of changes in discount rate assumptions(296)102 127 1 (66)
Balance – end of period$1,523 $4,405 $11,626 $125 $17,679 
(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.

Present Value of Expected Future Policy BenefitsFor the Year Ended December 31, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $2,254 $10,063 $14,650 $495 $27,462 
Beginning balance at original discount rate2,749 9,991 15,071 492 28,303 
Effect of changes in cash flow assumptions(141)205 373 (5)432 
Effect of actual variances from expected experience20 11 (141)— (110)
Adjusted beginning of period balance2,628 10,207 15,303 487 28,625 
Issuances221 1,211 2,162 86 3,680 
Interest accrual76 331 668 17 1,092 
Benefits payments(224)(340)(1,594)(18)(2,176)
Other (including foreign exchange)(54)(167)(887)29 (1,079)
Ending balance at original discount rate2,647 11,242 15,652 601 30,142 
Effect of changes in discount rate assumptions(409)815 41 46 493 
Balance – end of period$2,238 $12,057 $15,693 $647 $30,635 
Liability for Future Policy Benefits, Life Insurance SegmentDecember 31, 2024
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$715 $7,652 $4,067 $522 $12,956 
Deferred profit liability279 1,210 196 39 1,724 
Net liability for future policy benefits, before reinsurance recoverable994 8,862 4,263 561 14,680 
Less: Reinsurance recoverable on future policy benefits108 47 113 1 269 
Net liability for future policy benefits, after reinsurance recoverable$886 $8,815 $4,150 $560 $14,411 
Weighted average duration (years)10.427.89.818.621.3

Present Value of Expected Net PremiumsFor the Year Ended December 31, 2023
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period $1,806 $2,308 $10,711 $42 $14,867 
Beginning balance at original discount rate1,867 2,361 11,258 43 15,529 
Effect of changes in cash flow assumptions22 40 (820)2 (756)
Effect of actual variances from expected experience(9)88 (84)— (5)
Adjusted beginning of period balance1,880 2,489 10,354 45 14,768 
Consolidation of Huatai Group3 1,690 145 12 1,850 
Issuances190 318 1,653 9 2,170 
Interest accrual71 87 531 2 691 
Net premiums collected (1)
(255)(585)(1,457)(23)(2,320)
Other (including foreign exchange)103 (54)(534)19 (466)
Ending balance at original discount rate1,992 3,945 10,692 64 16,693 
Effect of changes in discount rate assumptions(402)5 (260)— (657)
Balance – end of period$1,590 $3,950 $10,432 $64 16,036 
(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.
Present Value of Expected Future Policy BenefitsFor the Year Ended December 31, 2023
(in millions of U.S. dollars)Term LifeWhole LifeA&HOtherTotal
Balance – beginning of period$2,321 $5,696 $15,038 $269 $23,324 
Beginning balance at original discount rate2,447 5,874 15,855 280 24,456 
Effect of changes in cash flow assumptions15 44 (858)4 (795)
Effect of actual variances from expected experience(4)98 (78)(1)15 
Adjusted beginning of period balance2,458 6,016 14,919 283 23,676 
Consolidation of Huatai Group17 3,659 163 233 4,072 
Issuances190 318 1,653 9 2,170 
Interest accrual90 252 672 9 1,023 
Benefits payments(238)(333)(1,551)(13)(2,135)
Other (including foreign exchange)232 79 (785)(29)(503)
Ending balance at original discount rate2,749 9,991 15,071 492 28,303 
Effect of changes in discount rate assumptions(495)72 (421)3 (841)
Balance – end of period$2,254 $10,063 $14,650 $495 $27,462 


Liability for Future Policy Benefits, Life Insurance SegmentDecember 31, 2023
(in millions of U.S. dollars, except for years)Term LifeWhole LifeA&HOtherTotal
Net liability for future policy benefits$664 $6,113 $4,218 $431 $11,426 
Deferred profit liability267 804 165 17 1,253 
Net liability for future policy benefits, before reinsurance recoverable931 6,917 4,383 448 12,679 
Less: Reinsurance recoverable on future policy benefits82 45 106 — 233 
Net liability for future policy benefits, after reinsurance recoverable$849 $6,872 $4,277 $448 $12,446 
Weighted average duration (years)10.525.810.415.019.4
The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.

December 31
(in millions of U.S. dollars)20242023
Net liability for future policy benefits, Life Insurance segment$12,956 $11,426 
Other (1)
1,441 1,209 
Deferred profit liability1,724 1,253 
Liability for future policy benefits, per consolidated balance sheet$16,121 $13,888 
(1)Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.
v3.25.0.1
Policyholders' account balances, Separate accounts, and Unearned revenue liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Policyholder Account Balances
Policyholders' account balances
The following tables present a roll-forward of policyholders' account balances:
For the Year Ended December 31, 2024
(in millions of U.S. dollars)Universal Life
Annuities (2)
Other (3)
Total
Balance – beginning of period$1,876 $2,411 $2,502 $6,789 
Premiums received 276 339 413 1,028 
Policy charges (1)
(136)— (11)(147)
Surrenders and withdrawals(122)(39)(278)(439)
Benefit payments (4)
(60)(139)(78)(277)
Interest credited50 41 68 159 
Other (including foreign exchange)(75)(28)(262)(365)
Balance – end of period$1,809 $2,585 $2,354 $6,748 
Unearned revenue liability711 
Other (5)
557 
Policyholders' account liability, per consolidated balance sheet$8,016 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
(2)Relates to Huatai Life.
(3)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
(4)Includes benefit payments upon maturity as well as death benefits.
(5)Primarily comprises unpaid dividends on certain participating policies.

For the Year Ended December 31, 2023
(in millions of U.S. dollars)Universal Life
Annuities (2)
Other (3)
Total
Balance – beginning of period$1,199 $— $1,374 $2,573 
Consolidation of Huatai Group602 2,325 1,087 4,014 
Premiums received 268 133 231 632 
Policy charges (1)
(132)— (10)(142)
Surrenders and withdrawals(115)(19)(192)(326)
Benefit payments (4)
(12)(58)(62)(132)
Interest credited43 31 39 113 
Other (including foreign exchange)23 (1)35 57 
Balance – end of period$1,876 $2,411 $2,502 $6,789 
Unearned revenue liability673 
Policyholders' account liability, per consolidated balance sheet$7,462 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
(2)Relates to Huatai Life.
(3)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
(4)Includes benefit payments upon maturity as well as death benefits.
December 31
20242023
(in millions of U.S. dollars, except for percentages)Universal LifeAnnuitiesOtherUniversal LifeAnnuitiesOther
Weighted-average crediting rate (1)
2.8 %1.7 %3.0 %3.0 %2.6 %1.9 %
Net amount at risk (2)
$12,369 $— $425 $11,828 $— $559 
Cash Surrender Value$1,649 $1,678 $2,060 $1,628 $1,526 $2,192 
(1)Calculated using actual interest credited for the twelve months ended December 31, 2024 and 2023, respectively.
(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.
Policyholder Account Balance, Guaranteed Minimum Crediting Rates
The following tables present the balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimum:

Universal Life
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$427 $— $46 $114 $587 
 2.01% – 4.00%
245 615 349 — 1,209 
Greater than 4.00%
13 — — — 13 
Total$685 $615 $395 $114 $1,809 


December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$475 $— $29 $36 $540 
 2.01% – 4.00%
82 319 894 19 1,314 
Greater than 4.00%
22 — — — 22 
Total$579 $319 $923 $55 $1,876 
Annuities
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$80 $— $1,628 $46 $1,754 
 2.01% – 4.00%
831 — — — 831 
Greater than 4.00%
— — — — — 
Total$911 $— $1,628 $46 $2,585 

December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$723 $— $1,579 $— $2,302 
 2.01% – 4.00%
109 — — — 109 
Greater than 4.00%
— — — — — 
Total$832 $— $1,579 $— $2,411 

Other policyholders' account balances
December 31, 2024
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$367 $6 $182 $431 $986 
 2.01% – 4.00%
1,318 50 — — 1,368 
Greater than 4.00%
— — — — — 
Total$1,685 $56 $182 $431 $2,354 

December 31, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
Up to 2.00%
$782 $— $228 $546 $1,556 
 2.01% – 4.00%
373 540 28 — 941 
Greater than 4.00%
5 — — — 5 
Total$1,160 $540 $256 $546 $2,502 
Fair Value, Separate Account Investment
The following table presents the aggregate fair value of Separate account assets, by major security type:

December 31
(in millions of U.S. dollars)20242023
Cash and cash equivalents $234 $65 
Mutual funds 5,931 5,417 
Fixed maturities66 91 
Total$6,231 $5,573 
Separate Account, Liability
The following table presents a roll-forward of separate account liabilities:
For the Years Ended
December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period$5,573 $5,190 
Premiums and deposits1,629 995 
Policy charges(158)(138)
Surrenders and withdrawals(910)(601)
Benefit payments(430)(381)
Investment performance630 611 
Other (including foreign exchange)(103)(103)
Balance – end of period$6,231 $5,573 
Cash surrender value (1)
$5,853 $5,398 
(1) Cash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges.
Unearned revenue liabilities The following table presents a roll-forward of unearned revenue liabilities:
For the Years Ended December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period$673 $567 
Deferred revenue144 134 
Amortization(73)(67)
Other (including foreign exchange)(33)39 
Balance – end of period$711 $673 
v3.25.0.1
Market risk benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Market Risk Benefit [Abstract]  
Market Risk Benefit, Activity The following table presents a roll-forward of MRB:
For the Years Ended December 31
(in millions of U.S. dollars)20242023
Balance – beginning of period $771 $800 
Balance, beginning of period, before effect of changes in the instrument-specific credit risk749 776 
Interest rate changes(130)26 
Effect of market movements (1)
(125)(195)
Effect of changes in volatilities1 20 
Actual policyholder behavior different from expected behavior55 18 
Effect of changes in future expected policyholder behavior87 89 
Effect of timing and all other(45)15 
Balance, end of period, before effect of changes in the instrument-specific credit risk$592 $749 
Effect of changes in the instrument-specific credit risk15 22 
Balance – end of period$607 $771 
Weighted-average age of policyholders (years)7474
Net amount at risk (2)
$1,520 $1,872 
(1)Market movements are predominantly driven by changes in equities.
(2)The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.
Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations
For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.
Valuation TechniqueSignificant Unobservable Inputs
December 31, 2024
December 31, 2023
Ranges
Weighted Average(1)
Ranges
Weighted Average(1)
MRB (1)
Actuarial modelLapse rate
0.5% – 27.3%
3.4 %
0.5% – 30.0%
4.0 %
Annuitization rate
0% – 100%
4.5 %
0% – 100%
4.5 %
(1)The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.
v3.25.0.1
Taxation (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of components of income tax provision
The following table presents pre-tax income and the related provision for income taxes:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Pre-tax income:
      Switzerland$121 $44 $234 
      Outside Switzerland11,334 9,482 6,251 
      Total pre-tax income$11,455 $9,526 $6,485 
Provision for income taxes
Current tax expense:
      Switzerland$29 $25 $15 
      Outside Switzerland1,700 1,570 1,066 
      Total current tax expense1,729 1,595 1,081 
Deferred tax expense (benefit):
      Switzerland14 (63)34 
      Outside Switzerland72 (1,021)124 
      Total deferred tax expense (benefit)86 (1,084)158 
Provision for income taxes$1,815 $511 $1,239 
Reconciliation schedule of the difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate
The following table presents a reconciliation of the difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate:
Year Ended December 31
(in millions of U.S. dollars)20242023 2022 
Expected tax provision at Swiss statutory tax rate$2,251 $1,872 $1,274 
Permanent differences:
Taxes on earnings subject to rate other than Swiss statutory rate(510)(389)(243)
Bermuda tax law enactment(55)(1,135)— 
Net withholding taxes145 15 75 
Other(16)148 133 
Provision for income taxes$1,815 $511 $1,239 
Schedule of the components of net deferred tax assets
The following table presents the components of net deferred tax assets and liabilities:
December 31
(in millions of U.S. dollars)2024 2023 
Deferred tax assets:
Loss reserve discount$1,746 $1,643 
Unearned premiums reserve753 678 
Foreign tax credits18 19 
Loss carry-forwards146 149 
Investments (1)
512 524 
Depreciation26 37 
Future policy benefits176 (42)
Other268 189 
Total deferred tax assets 3,645 3,197 
      Valuation allowance1,081 716
      Deferred tax assets, net of valuation allowance2,564 2,481 
Deferred tax liabilities:
Deferred policy acquisition costs1,005 675 
Other intangible assets, including VOBA1,289 1,444 
Un-remitted foreign earnings251 176 
Total deferred tax liabilities 2,545 2,295 
Net deferred tax assets (liabilities)$19 $186 
(1)Included in Investments are deferred taxes on unrealized depreciation of $787 million and $662 million at December 31, 2024 and 2023, respectively.
Schedule of Unrecognized Tax Benefits Roll Forward
The following table presents a reconciliation of the beginning and ending amount of gross unrecognized tax benefits:
Year Ended December 31
(in millions of U.S. dollars)2024 2023 
Balance, beginning of year$73 $67 
Additions based on tax positions related to the current year1 — 
Additions based on tax positions related to prior years57 9 
Reductions for settlements with taxing authorities(1)(3)
Balance, end of year$130 $73 
Summary of Income Tax Examinations
The following table summarizes tax years open for examination by major income tax jurisdiction:
At December 31, 2024
Australia2018-2024
Brazil2018-2024
Canada2012-2024
China2021-2024
France 2022-2024
Germany2016-2024
Italy2019-2024
Korea2019-2024
Mexico2016-2024
Spain2012-2024
Switzerland2019-2024
United Kingdom2015-2024
United States2014-2024
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of debt outstanding
December 31December 31
(in millions of U.S. dollars)20242023Early Redemption Option
Repurchase agreements
Repurchase agreements (weighted average interest rate of 4.1% in 2024 and 5.4% in 2023)
$1,916$1,824None
Repurchase agreements – VIEs (1) (weighted average interest rate of 2.2% in 2024 and 4.9% in 2023)
8151,009None
Total repurchase agreements$2,731$2,833
Short-term debt
Chubb INA:
$700 million 3.35% senior notes due May 2024
$—$700
Make-whole premium plus 15 bps
€700 million 0.3% senior notes due December 2024
—760
Make-whole premium plus 15 bps
$800 million 3.15% senior notes due March 2025
800—
Make-whole premium plus 15 bps
Total short-term debt
$800$1,460
Long-term debt
Chubb INA:
$800 million 3.15% senior notes due March 2025
$—$799
Make-whole premium plus 15 bps
$1,500 million 3.35% senior notes due May 2026
1,4981,497
Make-whole premium plus 20 bps
€575 million 0.875% senior notes due June 2027
604623
Make-whole premium plus 20 bps
€900 million 1.55% senior notes due March 2028
944974
Make-whole premium plus 15 bps
$100 million 8.875% debentures due August 2029
100100None
$700 million 4.65% senior notes due August 2029
695—
Make-whole premium plus 15 bps
€700 million 0.875% senior notes due December 2029
734758
Make-whole premium plus 20 bps
$1,000 million 1.375% senior notes due September 2030
995994
Make-whole premium plus 15 bps
€575 million 1.4% senior notes due June 2031
601621
Make-whole premium plus 25 bps
$200 million 6.8% debentures due November 2031
227230
Make-whole premium plus 25 bps
$1,600 million 5.0% senior notes due March 2034
1,588—
Make-whole premium plus 15 bps
$300 million 6.7% senior notes due May 2036
298298
Make-whole premium plus 20 bps
$800 million 6.0% senior notes due May 2037
909918
Make-whole premium plus 20 bps
€900 million 2.5% senior notes due March 2038
940971
Make-whole premium plus 25 bps
$600 million 6.5% senior notes due May 2038
710718
Make-whole premium plus 30 bps
$475 million 4.15% senior notes due March 2043
471471
Make-whole premium plus 15 bps
$1,500 million 4.35% senior notes due November 2045
1,4871,486
Make-whole premium plus 25 bps
$600 million 2.85% senior notes due December 2051
594593
Make-whole premium plus 15 bps
$1,000 million 3.05% senior notes due December 2061
984984
Make-whole premium plus 20 bps
Total long-term debt$14,379$13,035
Hybrid debt
Chubb INA capital securities due April 2030$309$308
Redemption prices (2)
Huatai Life CNY 800 million 2.90% capital supplementary bonds due November 2034
110—Redeemable at par in 2029
Total hybrid debt$419$308
(1)Refer to Note 1 g) to the Consolidated Financial Statements for additional information on the consolidation of VIEs.
(2)Redemption prices are equal to accrued and unpaid interest to the redemption date plus the greater of (i) 100 percent of the principal amount thereof, or (ii) sum of present value of scheduled payments of principal and interest on the capital securities from the redemption date to April 1, 2030.
v3.25.0.1
Commitments, contingencies, and guarantees (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments
The following table presents the balance sheet location, fair value in an asset or (liability) position, and notional value/payment provision of our derivative instruments:


December 31, 2024December 31, 2023
Consolidated
Balance Sheet
Location		Fair ValueNotional
Value/
Payment
Provision		Fair ValueNotional
Value/
Payment
Provision
Derivative Asset Derivative (Liability) Derivative Asset Derivative (Liability)
(in millions of U.S. dollars)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contractsOA / (AP)$41 $(295)$3,959 $27 $(94)$3,662 
Options/Futures contracts on notes and bondsOA / (AP)— (8)449 27 (42)2,062 
Convertible securities (1)
FM AFS / ES12 — 12 56 — 64 
Total
$53 $(303)$4,420 $110 $(136)$5,788 
Other derivative instruments:
Futures contracts on equities (2)
OA / (AP)$35 $— $1,047 $— $(37)$1,157 
OtherOA / (AP)— (2)211 — (5)217 
Total
$35 $(2)$1,258 $— $(42)$1,374 
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedgesOA / (AP)$103 $— $1,579 $126 $— $1,631 
Cross-currency swaps - net investment hedgesOA / (AP)43 (116)2,896 10 (128)1,619 
Total
$146 $(116)$4,475 $136 $(128)$3,250 
(1)Includes fair value of embedded derivatives.
(2)Related to MRB book of business.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location
Year Ended December 31
(pre-tax, in millions of U.S. dollars)20242023
Gain (loss) recognized in OCI$(38)$101 
Net realized gain (loss) reclassified from OCI(103)50 
Interest expense reclassified from OCI(15)(16)
OCI gain (loss) after reclassifications$80 $67 
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location
Year Ended December 31
(pre-tax, in millions of U.S. dollars)20242023
Gain (loss) recognized in OCI$58 $(58)
Interest income reclassified from OCI19 13 
OCI gain (loss) after reclassifications$39 $(71)
Derivative Instruments, Gain (Loss) [Table Text Block] The following table presents net gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Investment and embedded derivative instruments:
Foreign currency forward contracts$(213)$(50)$(339)
Options/Futures contracts on notes and bonds22 (2)297 
Convertible securities (1)
2 (1)(1)
Total investment and embedded derivative instruments$(189)$(53)$(43)
Other derivative instruments:
Futures contracts on equities (2)
(165)(189)187 
Other(4)(10)(11)
Total other derivative instruments$(169)$(199)$176 
Total
$(358)$(252)$133 
(1)Includes embedded derivatives.
(2)Related to MRB book of business.
Secured Borrowings Securities Lending Table
The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
December 31, 2024December 31, 2023
(in millions of U.S. dollars)Overnight and Continuous
Collateral held under securities lending agreements:
Cash$557 $555 
U.S. Treasury / Agency145 33 
Non-U.S.663 621 
Corporate and asset-backed securities49 57 
Municipal3 6 
Equity securities28 27 
Total
$1,445 $1,299 
Gross amount of recognized liability for securities lending payable$1,445 $1,299 
The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
Remaining contractual maturity
December 31, 2024December 31, 2023
Up to 30 Days30-90 DaysGreater than 90 DaysUp to 30 Days30-90 DaysGreater than 90 DaysTotal
(in millions of U.S. dollars)Total
Collateral pledged under repurchase agreements:
Cash$— $19 $2 $21 $— $33 $1 $34 
Non-U.S.1,387 — — 1,387 1,355 — — 1,355 
U.S. Treasury / Agency— — 104 104 — 105 — 105 
Mortgage-backed securities— 454 924 1,378 — 913 517 1,430 
Total
$1,387 $473 $1,030 $2,890 $1,355 $1,051 $518 $2,924 
Gross amount of recognized liabilities for repurchase agreements$2,731 $2,833 
Difference (1)
$159 $91 
(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.
Lessee, Operating Lease, Liability, Maturity
Future minimum lease payments under the operating leases are expected to be as follows:
For the years ending December 31
(in millions of U.S. dollars)
Undiscounted cash flows:
2025$178 
2026154 
2027117 
202890 
202974 
Thereafter759 
Total undiscounted lease payments$1,372 
Less: Present value adjustment430 
Net lease liabilities reported as of December 31, 2024$942 
v3.25.0.1
Shareholders' equity note (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Dividends Declared [Table Text Block]
The following table presents dividend distributions per Common Share in Swiss francs (CHF) and U.S. dollars (USD):
Year Ended December 31
202420232022
CHFUSDCHFUSDCHFUSD
Total dividend distributions per common share3.15 $3.59 3.05 $3.41 3.11 $3.29 
Schedule of changes in Common Shares issued and outstanding
Year Ended December 31
202420232022
Common Shares authorized and issued, beginning of year431,451,586 446,376,614 474,021,114 
Cancellation of treasury shares(11,825,600)(14,925,028)(27,644,500)
Common Shares authorized and issued, end of year419,625,986 431,451,586 446,376,614 
Common Shares in treasury, beginning of year
(26,181,949)(31,781,758)(47,448,502)
Net shares issued under employee share-based compensation plans2,952,591 2,500,381 2,947,272 
Shares repurchased(7,518,565)(11,825,600)(14,925,028)
Cancellation of treasury shares11,825,600 14,925,028 27,644,500 
Common Shares in treasury, end of year
(18,922,323)(26,181,949)(31,781,758)
Common Shares outstanding, end of year400,703,663 405,269,637 414,594,856 
Share Repurchase Program [Table Text Block]
Share repurchases may be in the open market, in privately negotiated transactions, block trades, accelerated repurchases and through option or other forward transactions. The following table presents repurchases of Chubb's Common Shares conducted in a series of open market transactions under the Board authorizations:
Year Ended December 31January 1, 2025 through
(in millions of U.S. dollars, except share data)202420232022February 26, 2025
Number of shares repurchased7,518,565 11,825,600 14,925,028 543,782 
Cost of shares repurchased$2,024 $2,478 $3,014 $148 
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents changes in accumulated other comprehensive income (loss):
Year Ended December 31
(in millions of U.S. dollars)202420232022
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of year, net of tax$(4,177)$(7,279)$2,256 
Change in year, before reclassification from AOCI (before tax)(553)2,948 (11,627)
Amounts reclassified from AOCI (before tax)302 500 1,049 
Change in year, before tax(251)3,448 (10,578)
Income tax (expense) benefit(110)(328)1,043 
Total other comprehensive income (loss)(361)3,120 (9,535)
Noncontrolling interests, net of tax14 18 — 
Balance – end of year, net of tax(4,552)(4,177)(7,279)
Current discount rate on liability for future policy benefits
Balance – beginning of year, net of tax51 (75)(1,399)
Change in year, before tax(701)84 1,480 
Income tax (expense) benefit8 16 (156)
Total other comprehensive income (loss)(693)100 1,324 
Noncontrolling interests, net of tax(103)(26)— 
Balance – end of year, net of tax(539)51 (75)
Instrument-specific credit risk on market risk benefits
Balance – beginning of year, net of tax(22)(24)(57)
Change in year, before tax7 2 33 
Income tax expense(1)— — 
Total other comprehensive income 6 2 33 
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax(16)(22)(24)
Cumulative foreign currency translation adjustment
Balance – beginning of year, net of tax(2,945)(2,966)(2,114)
Change in year, before reclassification from AOCI (before tax)(1,158)— (907)
Amounts reclassified from AOCI (before tax)(19)(13)(4)
Change in year, before tax(1,177)(13)(911)
Income tax benefit39 27 59 
Total other comprehensive income (loss)(1,138)14 (852)
Noncontrolling interests, net of tax(58)(7)— 
Balance – end of year, net of tax(4,025)(2,945)(2,966)
Year Ended December 31
(in millions of U.S. dollars)202420232022
Accumulated other comprehensive income (loss) (AOCI) - continued
Fair value hedging instruments
Balance – beginning of year, net of tax(13)(66)— 
Change in year, before reclassification from AOCI (before tax)(38)101 17 
Amounts reclassified from AOCI (before tax)118 (34)(100)
Change in year, before tax80 67 (83)
Income tax (expense) benefit(17)(14)17 
Total other comprehensive income (loss)63 53 (66)
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax50 (13)(66)
Postretirement benefit liability adjustment
Balance – beginning of year, net of tax297 225 240 
Change in year, before tax177 90 (17)
Income tax (expense) benefit(36)(18)2 
Total other comprehensive income (loss)141 72 (15)
Noncontrolling interests, net of tax— — — 
Balance – end of year, net of tax438 297 225 
Accumulated other comprehensive loss$(8,644)$(6,809)$(10,185)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The following table presents reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of operations:
Consolidated Statement of Operations Location
Year Ended December 31
(in millions of U.S. dollars)202420232022
Fixed maturities available-for-sale$(302)$(500)$(1,049)Net realized gains (losses)
Income tax benefit92 62 170 Income tax expense
$(210)$(438)$(879)Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps$19 $13 $4 
Interest expense
Income tax expense(4)(3)(1)Income tax expense
$15 $10 $3 Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps$(103)$50 $105 Net realized gains (losses)
Cross-currency swaps(15)(16)(5)
Interest expense
Income tax (expense) benefit25 (7)(21)Income tax expense
$(93)$27 $79 Net income
Total amounts reclassified from AOCI$(288)$(401)$(797)
v3.25.0.1
Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of pre-tax and after-tax share-based compensation expense
The following table presents pre-tax and after-tax share-based compensation expense:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Stock options and shares issued under ESPP:
Pre-tax$83 $71 $60 
After-tax (1)
$49 $56 $38 
Restricted stock:
Pre-tax$274 $253 $230 
After-tax (1)
$210 $202 $179 
(1)The windfall tax benefit recorded to Income tax expense in the Consolidated statement of operations was $42 million, $19 million, and $29 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Schedule of the weighted-average model valuation assumptions
Year Ended December 31
202420232022
Dividend yield1.4 %1.7 %1.7 %
Expected volatility22.0 %23.0 %20.1 %
Risk-free interest rate4.3 %4.1 %1.9 %
Expected life5.7 years5.7 years5.8 years
Rollforward of the company's stock options
The following table presents a roll-forward of Chubb's stock options:
(Intrinsic Value in millions of U.S. dollars)Number of OptionsWeighted-Average Exercise PriceWeighted-Average Fair ValueTotal Intrinsic Value
Options outstanding, December 31, 202110,762,487 $133.94 
Granted1,731,904 $198.36 $35.46 
Exercised(1,878,147)$117.83 $163 
Forfeited and expired(205,966)$171.45 
Options outstanding, December 31, 202210,410,278 $146.81 
Granted1,540,002 $208.60 $51.32 
Exercised(1,249,350)$127.45 $107 
Forfeited and expired(220,046)$191.57 
Options outstanding, December 31, 202310,480,884 $157.24 
Granted1,360,644 $254.84 $64.15 
Exercised(2,173,668)$136.82 $265 
Forfeited and expired(156,141)$218.64 
Options outstanding, December 31, 20249,511,719 $174.86 $965 
Options exercisable, December 31, 20246,807,857 $153.29 $837 
Rollforward of the company's restricted stock
The following table presents a roll-forward of our restricted stock awards and restricted stock units. Included in the roll-forward below are 10,388 restricted stock awards, 12,994 restricted stock awards, and 13,440 restricted stock awards that were granted to non-management directors during the years ended December 31, 2024, 2023, and 2022, respectively:
Service-based
Restricted Stock Awards
and Restricted Stock Units		Performance-based
Restricted Stock Awards
and Restricted Stock Units
Number of SharesWeighted-Average
Grant-Date Fair Value		Number of SharesWeighted-Average
Grant-Date Fair Value
Unvested restricted stock, December 31, 20213,051,811 $152.19 697,191 $151.74 
Granted1,193,016 $199.18 296,944 $199.09 
Vested(1,191,452)$148.18 (199,343)$133.90 
Forfeited(199,505)$168.12 — $— 
Unvested restricted stock, December 31, 20222,853,870 $172.39 794,792 $173.83 
Granted1,166,706 $208.07 407,825 $208.60 
Vested(1,142,911)$161.88 (203,533)$150.11 
Forfeited(203,850)$186.58 — $— 
Unvested restricted stock, December 31, 20232,673,815 $191.35 999,084 $192.85 
Granted1,009,991 $255.16 392,775 $254.34 
Vested(1,077,560)$181.12 (294,315)$164.75 
Forfeited(146,931)$213.90 — $— 
Unvested restricted stock, December 31, 20242,459,315 $220.78 1,097,544 $222.39 
v3.25.0.1
Postretirement benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Net Funded Status [Table Text Block]
Obligations and funded status
The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in the Consolidated balance sheets and Accumulated other comprehensive income (loss) at December 31, 2024 and 2023, was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2024202320242023
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$2,833 $743 $2,781 $697 $36 $43 
   Service cost— 9 — 7 1 — 
   Interest cost134 36 138 36 2 2 
   Actuarial loss (gain)(162)(54)82 29 (2)2 
   Benefits paid(151)(37)(168)(38)(10)(12)
   Amendments— 1 — — — — 
   Curtailments— — — — — — 
   Settlements— — — (5)— — 
   Foreign currency revaluation and other — (14)— 17 (2)1 
Benefit obligation, end of year$2,654 $684 $2,833 $743 $25 $36 
Plan assets at fair value, beginning of year$3,589 $986 $3,316 $938 $69 $81 
   Actual return on plan assets243 12 417 57 3 4 
   Employer contributions6 13 24 15 — 1 
   Benefits paid(151)(37)(168)(38)(10)(17)
   Settlements— — — (8)— — 
   Foreign currency revaluation and other— (9)— 22 — — 
Plan assets at fair value, end of year$3,687 $965 $3,589 $986 $62 $69 
Funded status at end of year$1,033 $281 $756 $243 $37 $33 
Amounts recognized in the Consolidated balance sheets:
Assets$1,074 $335 $801 $300 $57 $54 
Liabilities(41)(54)(45)(57)(20)(21)
Total$1,033 $281 $756 $243 $37 $33 
Amounts recognized in Accumulated other comprehensive
income (loss), pre-tax, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$(563)$11 $(404)$29 $(11)$(10)
Prior service cost (benefit)— 8 — 8 (3)(4)
Total$(563)$19 $(404)$37 $(14)$(14)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
The funded status of the pension and other postretirement benefit plans as well as the amounts recognized in the Consolidated balance sheets and Accumulated other comprehensive income (loss) at December 31, 2024 and 2023, was as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
2024202320242023
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Benefit obligation, beginning of year$2,833 $743 $2,781 $697 $36 $43 
   Service cost— 9 — 7 1 — 
   Interest cost134 36 138 36 2 2 
   Actuarial loss (gain)(162)(54)82 29 (2)2 
   Benefits paid(151)(37)(168)(38)(10)(12)
   Amendments— 1 — — — — 
   Curtailments— — — — — — 
   Settlements— — — (5)— — 
   Foreign currency revaluation and other — (14)— 17 (2)1 
Benefit obligation, end of year$2,654 $684 $2,833 $743 $25 $36 
Plan assets at fair value, beginning of year$3,589 $986 $3,316 $938 $69 $81 
   Actual return on plan assets243 12 417 57 3 4 
   Employer contributions6 13 24 15 — 1 
   Benefits paid(151)(37)(168)(38)(10)(17)
   Settlements— — — (8)— — 
   Foreign currency revaluation and other— (9)— 22 — — 
Plan assets at fair value, end of year$3,687 $965 $3,589 $986 $62 $69 
Funded status at end of year$1,033 $281 $756 $243 $37 $33 
Amounts recognized in the Consolidated balance sheets:
Assets$1,074 $335 $801 $300 $57 $54 
Liabilities(41)(54)(45)(57)(20)(21)
Total$1,033 $281 $756 $243 $37 $33 
Amounts recognized in Accumulated other comprehensive
income (loss), pre-tax, not yet recognized in net periodic cost (benefit):
Net actuarial loss (gain)$(563)$11 $(404)$29 $(11)$(10)
Prior service cost (benefit)— 8 — 8 (3)(4)
Total$(563)$19 $(404)$37 $(14)$(14)
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2024 and 2023:
20242023
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$41 $95 $45 $101 
Fair value of plan assets— 41 — 44 
Net funded status$(41)$(54)$(45)$(57)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$41 $70 $45 $73 
Fair value of plan assets$— $38 $— $40 
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]
The following table provides information on pension plans where the benefit obligation is in excess of plan assets at December 31, 2024 and 2023:
20242023
U.S. PlansNon-U.S. PlansU.S. PlansNon-U.S. Plans
(in millions of U.S. dollars)
Plans with projected benefit obligation in excess of plan assets:
Projected benefit obligation$41 $95 $45 $101 
Fair value of plan assets— 41 — 44 
Net funded status$(41)$(54)$(45)$(57)
Plans with accumulated benefit obligation in excess of plan assets:
Accumulated benefit obligation$41 $70 $45 $73 
Fair value of plan assets$— $38 $— $40 
Defined Benefit Plan, Assumptions [Table Text Block]
The weighted-average assumptions used to determine the projected benefit obligation were as follows:
Pension Benefit Plans
U.S.
Plans		Non-U.S.
Plans		Other Postretirement Benefit Plans
December 31, 2024
Discount rate5.56 %5.62 %6.46 %
Rate of compensation increase (1)
N/A3.61 %N/A
Interest crediting rate4.43 %
December 31, 2023
Discount rate4.98 %5.03 %6.01 %
Rate of compensation increase (1)
N/A3.73 %N/A
Interest crediting rate4.55 %
(1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019.
 [1]
Schedule of Net Benefit Costs [Table Text Block]
The components of net pension and other postretirement benefit costs (benefits) reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) were as follows:
Pension Benefit PlansOther Postretirement
Benefit Plans
U.S. PlansNon-U.S. Plans
Year Ended December 31202420232022202420232022202420232022
(in millions of U.S. dollars)
Costs reflected in Net income, pre-tax:
Service cost$— $— $— $9 $7 $4 $1 $— $1 
Non-service cost (benefit):
Interest cost134 138 85 36 36 23 2 2 1 
Expected return on plan assets(244)(225)(283)(50)(51)(43)(3)(3)(1)
Amortization of net actuarial (gain) loss (2)— — 1 — — (2)(1)— 
Amortization of prior service cost (benefit)— — — — 1 — (1)— — 
Curtailments— — — — — — — — — 
Settlements1 3 — 1 4 — — — — 
Total non-service cost (benefit)(111)(84)(198)(12)(10)(20)(4)(2)— 
Net periodic benefit cost (benefit)$(111)$(84)$(198)$(3)$(3)$(16)$(3)$(2)$1 
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss)
Net actuarial loss (gain)$(161)$(111)$85 $(15)$22 $(67)$(3)$2 $(1)
Prior service cost (benefit)— — — — — — — — — 
Amortization of net actuarial gain (loss)2 — — (1)— — 2 1 — 
Amortization of prior service benefit— — — — — — 1 — — 
Curtailments— — — — — — — — — 
Settlements(1)(3)— (1)(1)— — — — 
Total decrease (increase) in other comprehensive income (loss), pre-tax$(160)$(114)$85 $(17)$21 $(67)$— $3 $(1)
The line items in which the service cost and non-service cost (benefit) components of net periodic benefit cost (benefit) are included in the Consolidated statements of operations were as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
Year Ended December 31202420232022202420232022
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses$— $— $— $— $— $— 
Administrative expenses9 7 4 1 — 1 
Total service cost9 7 4 1 — 1 
Non-service cost (benefit):
Losses and loss expenses(12)(9)(20)(1)— — 
Administrative expenses(111)(85)(198)(3)(2)— 
Total non-service cost (benefit)(123)(94)(218)(4)(2)— 
Net periodic benefit cost (benefit)$(114)$(87)$(214)$(3)$(2)$1 
Schedule of assumptions used, net periodic benefit costs [Table Text Block]
The weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:
Pension Benefit Plans
U.S. PlansNon-U.S. PlansOther Postretirement Benefit Plans
Year Ended December 31
2024
Discount rate in effect for determining service costN/A6.67 %5.23 %
Discount rate in effect for determining interest cost4.88 %5.12 %6.01 %
Rate of compensation increaseN/A3.73 %N/A
Expected long-term rate of return on plan assets7.00 %5.24 %4.00 %
Interest crediting rate4.55 %N/AN/A
2023
Discount rate in effect for determining service costN/A6.57 %5.67 %
Discount rate in effect for determining interest cost5.13 %5.28 %5.84 %
Rate of compensation increaseN/A3.98 %N/A
Expected long-term rate of return on plan assets7.00 %5.42 %4.00 %
Interest crediting rate4.32 %N/AN/A
2022
Discount rate in effect for determining service costN/A7.23 %3.22 %
Discount rate in effect for determining interest cost2.34 %2.13 %1.89 %
Rate of compensation increaseN/A3.63 %N/A
Expected long-term rate of return on plan assets7.00 %3.44 %1.00 %
Interest crediting rate4.10 %N/AN/A
Schedule of Health Care Cost Trend Rates [Table Text Block]
The weighted-average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:
U.S. PlansNon-U.S. Plans
202420232022202420232022
Healthcare cost trend rate6.52 %5.57 %5.72 %4.94 %5.08 %5.28 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.00 %4.00 %4.00 %4.10 %4.08 %4.04 %
Year that the rate reaches the ultimate trend rate204820462046204020402040
Schedule of Allocation of Plan Assets [Table Text Block]
The following tables present the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 4 to the Consolidated Financial Statements.

December 31, 2024Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$59 $— $— $59 
U.S. Treasury / Agency453 88 — 541 
Non-U.S. and corporate bonds— 593 — 593 
Municipal— 6 — 6 
Equity securities1,547 — — 1,547 
Investment derivative instruments1 — — 1 
Total U.S. Plan assets (1)
$2,060 $687 $— $2,747 
Non-U.S. Plans:
Short-term investments$22 $— $— $22 
Non-U.S. and corporate bonds— 435 — 435 
Equity securities38 225 5 268 
Total Non-U.S. Plan assets (1)
$60 $660 $5 $725 
(1)Excluded from the table above are $714 million and $222 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $223 million and $18 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $3 million in cash and accrued income related to the U.S. Plans.
December 31, 2023Pension Benefit Plans
(in millions of U.S. dollars)Level 1Level 2Level 3Total
U.S. Plans:
Short-term investments$45 $— $— $45 
U.S. Treasury / Agency470 86 — 556 
Non-U.S. and corporate bonds— 637 — 637 
Municipal— 6 — 6 
Equity securities1,466 — — 1,466 
Investment derivative instruments5 — — 5 
Total U.S. Plan assets (1)
$1,986 $729 $— $2,715 
Non-U.S. Plans:
Short-term investments$7 $— $— $7 
Non-U.S. and corporate bonds— 457 — 457 
Equity securities63 211 4 278 
Total Non-U.S. Plan assets (1)
$70 $668 $4 $742 
(1)Excluded from the table above are $634 million and $227 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $224 million and $17 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $16 million in cash and accrued income related to the U.S. Plans.
Schedule of expected future benefit payments
At December 31, 2024, our estimated expected future benefit payments are as follows:
Pension Benefit PlansOther Postretirement Benefit Plans
For the years ending December 31U.S.
Plans		Non-U.S. Plans
(in millions of U.S. dollars)
2025$184 $42 $5 
2026187 35 1 
2027190 35 1 
2028193 38 1 
2029196 40 1 
2030-2034982 237 6 
[1] (1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019
v3.25.0.1
Other income and expense (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of the components of Other (income) expense
Year Ended December 31
(in millions of U.S. dollars)2024 20232022 
Equity in net income (loss) of partially-owned entities$967 $867 $1 
Gains (losses) from fair value changes in separate account assets
(8)(45)(42)
Asset management and performance fee revenue265 136 — 
Asset management and performance fee expense(146)(75)— 
Federal excise and capital taxes(21)(24)(21)
Other(34)(23)(27)
Total$1,023 $836 $(89)
v3.25.0.1
Segment information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Operations by segment
The following tables present the Statement of Operations by segment:
For the Year Ended
December 31, 2024
(in millions of U.S. dollars)		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceTotal
Net premiums written$20,589 $6,532 $2,703 $13,972 $1,346 $6,326 $51,468 
Net premiums earned20,008 6,188 2,705 13,400 1,272 6,273 49,846 
Losses and loss expenses12,737 3,584 2,170 6,414 711 112 
Policy benefits— — — 408 — 4,101 
Policy acquisition costs2,718 1,239 191 3,410 342 1,202 
Administrative expenses1,337 351 (10)1,351 39 880 
Underwriting income3,216 1,014 354 1,817 180 NM
Net investment income3,556 433 84 1,136 253 1,003 
Other (income) expense32 1 1 14 — (159)
Amortization of purchased intangibles3 9 25 81 — 42 
Segment income$6,737 $1,437 $412 $2,858 $433 $1,098 $12,975 
Net realized gains (losses) 117 
Market risk benefits gains (losses)(140)
Interest expense741 
Integration expenses39 
Corporate underwriting loss(731)
Corporate net investment loss(105)
Corporate other (income) expense(490)
Corporate amortization of purchased intangibles163 
Other reclassification(208)
Income before income tax$11,455 
NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.
For the Year Ended
December 31, 2023
(in millions of U.S. dollars)		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceTotal
Net premiums written$19,237 $5,878 $3,188 $12,575 $1,018 $5,465 $47,361 
Net premiums earned18,416 5,536 3,169 12,231 962 5,398 45,712 
Losses and loss expenses11,256 3,511 2,874 5,643 426 114 
Policy benefits— — — 457 — 3,216 
Policy acquisition costs2,515 1,128 150 3,113 264 1,089 
Administrative expenses1,250 329 (1)1,219 37 771 
Underwriting income3,395 568 146 1,799 235 NM
Net investment income3,017 358 63 895 208 756 
Other (income) expense22 3 1 (25)(2)(115)
Amortization of purchased intangibles— 9 25 70 — 30 
Segment income$6,390 $914 $183 $2,649 $445 $1,049 $11,630 
Net realized gains (losses) (607)
Market risk benefits gains (losses)(307)
Interest expense672 
Integration expenses69 
Corporate underwriting loss(683)
Corporate net investment income25 
Corporate other (income) expense(380)
Corporate amortization of purchased intangibles176 
Other reclassification5 
Income before income tax$9,526 
NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.
For the Year Ended
December 31, 2022
(in millions of U.S. dollars)		North America Commercial P&C InsuranceNorth America Personal P&C InsuranceNorth America Agricultural InsuranceOverseas General InsuranceGlobal
Reinsurance		Life InsuranceTotal
Net premiums written$17,889 $5,313 $2,907 $11,060 $943 $3,608 $41,720 
Net premiums earned17,107 5,180 2,838 10,803 922 3,510 40,360 
Losses and loss expenses10,828 3,186 2,557 4,894 670 85 
Policy benefits— — — 358 — 1,998 
Policy acquisition costs2,313 1,057 126 2,818 240 785 
Administrative expenses1,113 291 (10)1,070 36 510 
Underwriting income (loss)2,853 646 165 1,663 (24)NM
Net investment income2,247 283 36 626 281 509 
Other (income) expense17 4 1 2 1 (30)
Amortization of purchased intangibles— 10 26 57 — 10 
Segment income$5,083 $915 $174 $2,230 $256 $661 $9,319 
Net realized gains (losses) (1,085)
Market risk benefits gains (losses)80 
Interest expense570 
Integration expenses48 
Corporate underwriting loss(748)
Corporate other (income) expense292 
Corporate amortization of purchased intangibles182 
Other reclassification11 
Income before income tax$6,485 
NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.
Net premiums earned by line of business
The following table presents net premiums earned for each segment by line of business:
For the Year Ended December 31
(in millions of U.S. dollars)202420232022
North America Commercial P&C Insurance
Property & other short-tail lines$4,756 $3,985 $3,383 
Casualty & all other14,560 13,764 13,056 
A&H692 667 668 
Total North America Commercial P&C Insurance20,008 18,416 17,107 
North America Personal P&C Insurance
Personal automobile968 859 811 
Personal homeowners4,293 3,833 3,557 
Personal other927 844 812 
Total North America Personal P&C Insurance6,188 5,536 5,180 
North America Agricultural Insurance2,705 3,169 2,838 
Overseas General Insurance
Property & other short-tail lines4,338 3,831 3,382 
Casualty & all other3,705 3,526 3,232 
Personal lines2,785 2,405 2,020 
A&H2,572 2,469 2,169 
Total Overseas General Insurance13,400 12,231 10,803 
Global Reinsurance
Property 490 331 211 
Property catastrophe232 159 208 
Casualty & all other550 472 503 
Total Global Reinsurance1,272 962 922 
Life Insurance
Life3,049 2,301 1,455 
A&H3,224 3,097 2,055 
Total Life Insurance6,273 5,398 3,510 
Total net premiums earned$49,846 $45,712 $40,360 
Net premiums earned by geographic region
The following table presents net premiums earned by geographic region. Allocations have been made on the basis of location of risk:
North America
Europe (1)
Asia (2)
Latin America
202464 %11 %19 %6 %
202365 %11 %18 %6 %
202269 %11 %14 %6 %
(1)     Europe includes Middle East and Africa regions.
(2)     2023 and 2024 include the consolidated results of Huatai Group effective July 1, 2023.
v3.25.0.1
Earnings per share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule Of Earnings Per Share, Basic And Diluted
Year Ended December 31
(in millions of U.S. dollars, except share and per share data)202420232022
Numerator:
Net income$9,640 $9,015 $5,246 
Net income (loss) attributable to noncontrolling interests368 (13)— 
Net income attributable to Chubb$9,272 $9,028 $5,246 
Denominator:
Denominator for basic earnings per share attributable to Chubb:
Weighted-average shares outstanding404,189,749 410,845,263 419,779,847 
Denominator for diluted earnings per share attributable to Chubb:
Share-based compensation plans4,296,686 3,357,305 3,747,597 
Weighted-average shares outstanding and assumed conversions
408,486,435 414,202,568 423,527,444 
Basic earnings per share attributable to Chubb$22.94 $21.97 $12.50 
Diluted earnings per share attributable to Chubb$22.70 $21.80 $12.39 
Potential anti-dilutive share conversions1,150,169 2,385,099 1,467,840 
v3.25.0.1
Related party transactions (Tables)
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions [Table Text Block]
Transactions generated under ABR Re agreements were as follows:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Consolidated statements of operations
Ceded premiums written$476 $441 $507 
Commissions received$117 $119 $138 
Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses$1,372 $1,241 
Ceded reinsurance premium payable$112 $40 
Aquiline Capital Partners LLC
Chubb invests in private investment funds managed by Aquiline Capital Partners LLC (collectively, Aquiline Funds), of which its chairman is related to a member of our senior management team. We have more than a three percent ownership interest in these funds and therefore account for them under the equity method of accounting. At December 31, 2024, Chubb has approximately $152 million of future contribution commitments to Aquiline Funds. Transactions generated from investments in Aquiline Funds are as follows:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Consolidated statements of operations
Other income (expense)$60 $36 $8 
Consolidated balance sheets
Private equities$400 $368 
Starr Indemnity & Liability Company and its affiliates (collectively, Starr)
We had previously entered into agency, claims services, and underwriting services with Starr, of which its chairman is related to a member of our senior management team. A number of our agreements with Starr were terminated effective as of April 2023. However, Starr continues to provide certain services to Chubb, including claims administration, in respect of insurance policies placed prior to the termination, pursuant to the terms of the applicable agreements. Under the agency agreement, we secured the ability to sell our insurance policies through Starr as one of our non-exclusive agents for writing policies, contracts, binders, or agreements of insurance or reinsurance. Under the claims services agreements, Starr adjusts the claims under policies and arranged for third party treaty and facultative agreements covering such policies. Under the underwriting services agreements, Starr was the underwriter of insurance policies on our behalf and we agreed to reinsure such policies to Starr under quota share reinsurance agreements. Transactions generated under Starr agreements were as follows:
Year Ended December 31
(in millions of U.S. dollars)202420232022
Consolidated statement of operations
Gross premiums written$10 $216 $618 
Ceded premiums written$24 $115 $353 
Commissions paid$3 $38 $122 
Commissions received$3 $26 $79 
Losses and loss expenses$24 $180 $225 
Consolidated balance sheets
Reinsurance recoverable on losses and loss expenses$328 $503 
Ceded reinsurance premium payable$19 $44 
v3.25.0.1
Statutory Financial Information (Tables)
 12 Months Ended
Dec. 31, 2024
Statutory Financial Information [Abstract]  
Schedule of combined statutory capital and surplus and statutory net income (loss)
December 31
(in millions of U.S. dollars)20242023
Statutory capital and surplus
Property and casualty$48,253 $45,271 
Life $8,970 $7,278 
Year Ended December 31
(in millions of U.S. dollars)202420232022
Statutory net income
Property and casualty$11,118 $8,699 $4,028 
Life $548 $459 $1,425 
v3.25.0.1
Schedule II (CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY) (Table)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Consolidating Balance Sheet
BALANCE SHEETS (Parent Company Only)
December 31December 31
(in millions of U.S. dollars)20242023
Assets
Investments in subsidiaries and affiliates on equity basis$64,141 $59,952 
Total investments64,141 59,952 
Cash383 77 
Due from subsidiaries and affiliates, net629 717 
Other assets13 12 
Total assets$65,166 $60,758 
Liabilities
Affiliated notional cash pooling programs$277 $594 
Accounts payable, accrued expenses, and other liabilities868 657 
Total liabilities1,145 1,251 
Shareholders' equity
Common Shares235 241 
Common Shares in treasury(3,524)(4,400)
Additional paid-in capital14,393 15,665 
Retained earnings61,561 54,810 
Accumulated other comprehensive income (loss)(8,644)(6,809)
Total Chubb shareholders' equity64,021 59,507 
Total liabilities and shareholders' equity$65,166 $60,758 
The condensed financial information should be read in conjunction with the Consolidated Financial Statements and notes thereto.
Condensed Consolidating Statement Of Operations and Comprehensive Income
STATEMENTS OF OPERATIONS (Parent Company Only)
For the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars)202420232022
Revenues
Net investment income (loss) (1)
$(24)$(21)$83 
Equity in net income of subsidiaries and affiliates9,385 9,065 5,256 
Total revenues9,361 9,044 5,339 
Expenses
Administrative and other (income) expense74 72 65 
Integration expenses— — 10 
Income tax (benefit) expense15 (56)18 
Total expenses89 16 93 
Net income attributable to Chubb$9,272 $9,028 $5,246 
Comprehensive income (loss) attributable to Chubb$7,437 $12,404 $(3,865)
(1) Includes net investment income, interest income, and net realized gains (losses).
The condensed financial information should be read in conjunction with the Consolidated Financial Statements and notes thereto.
Condensed Consolidating Statement of Cash Flows
STATEMENTS OF CASH FLOWS (Parent Company Only)
For the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars)202420232022
Net cash flows from operating activities (1)
$1,755 $3,273 $7,831 
Cash flows from investing activities
Capital redemption (contribution)
2,000 — (4,046)
Net cash flows from (used for) investing activities
2,000 — (4,046)
Cash flows from financing activities
Dividends paid on Common Shares(1,436)(1,394)(1,375)
Common Shares repurchased(1,801)(2,411)(2,894)
Repayment of intercompany loans99 231 279 
Net proceeds from (contributions to) affiliated notional cash pooling programs (2)
(317)342 245 
Net cash flows used for financing activities(3,455)(3,232)(3,745)
Effect of foreign currency rate changes on cash6 (4)(1)
Net increase (decrease) in cash306 37 39 
Cash – beginning of year77 40 1 
Cash – end of year$383 $77 $40 
(1) Includes cash dividends received from subsidiaries of $1.8 billion, $3.3 billion, and $7.7 billion in 2024, 2023, and 2022, respectively.
(2) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 i) for additional information.
The condensed financial information should be read in conjunction with the Consolidated Financial Statements and notes thereto.
v3.25.0.1
Schedule IV (SUPPLEMENTARY INFORMATION CONCERNING REINSURANCE) (Tables)
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]  
Schedule IV
SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE
Premiums Earned
For the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars, except for percentages)		Direct AmountCeded To Other CompaniesAssumed From Other CompaniesNet AmountPercentage of Amount Assumed to Net
2024
Life insurance face amount in force(1)
$240,794 $43,626 $4,109 $201,277 2 %
Premiums:
Property and casualty$45,179 $9,702 $4,832 $40,309 12 %
Accident and health6,874 473 87 6,488 1 %
Life3,095 97 51 3,049 2 %
Total$55,148 $10,272 $4,970 $49,846 10 %
2023
Life insurance face amount in force$248,973 $55,665 $5,408 $198,716 3 %
Premiums:
Property and casualty$42,598 $9,549 $4,129 $37,178 11 %
Accident and health6,580 446 99 6,233 2 %
Life2,404 164 61 2,301 3 %
Total$51,582 $10,159 $4,289 $45,712 9 %
2022
Life insurance face amount in force$215,759 $50,105 $7,242 $172,896 4 %
Premiums:
Property and casualty$39,449 $9,678 $4,242 $34,013 12 %
Accident and health5,206 411 97 4,892 2 %
Life1,505 106 56 1,455 4 %
Total$46,160 $10,195 $4,395 $40,360 11 %
(1) The reduction in direct amount of life insurance face amount in force in 2024 versus 2023 reflects the non-renewal of certain credit-life business.
v3.25.0.1
Schedule VI (SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS) (Table)
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]  
Schedule VI
SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS
As of and for the years ended December 31, 2024, 2023, and 2022
(in millions of U.S. dollars)
Deferred Policy Acquisition CostsNet Reserves for Unpaid Losses and Loss ExpensesUnearned PremiumsNet Premiums EarnedNet Investment IncomeNet Losses and Loss Expenses Incurred Related toAmortization of Deferred Policy Acquisition Costs Net Paid Losses and Loss ExpensesNet Premiums Written
Current YearPrior Year
2024$3,687 $66,270 $23,504 $43,573 $4,927 $26,997 $(975)$8,053 $21,503 $45,142 
2023$3,346 $62,238 $22,051 $40,314 $4,181 $24,956 $(856)$7,391 $21,011 $41,896 
2022$2,877 $58,661 $19,713 $36,850 $3,233 $23,680 $(1,108)$6,480 $19,537 $38,112 
v3.25.0.1
Summary of significant accounting policies (Narrative) (Detail) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jul. 01, 2023
Dec. 31, 2021
Summary of significant accounting policies [Line Items]            
Deferred Policy Acquisition Costs, Amortization Expense   $ 9,102 $ 8,259 $ 7,339    
Recoverable from unrated reinsurers, ceded reserve, default factor (percent)   11.20%        
Percentage of fair value of loaned securities   102.00%        
Quality assessment threshold used in goodwill impairment testing   50.00%        
Property, Plant and Equipment, Net   $ 3,100 2,900      
Net operating results of ESIS included within Administrative expenses   7 (2) 12    
Integration expenses   39 69 48    
Net income attributable to Chubb   9,272 9,028 5,246    
Comprehensive Income (Loss), Net of Tax, Attributable to Parent   7,437 12,404 (3,865)    
Retained earnings   61,561 54,810      
Accumulated other comprehensive income (loss)   (8,644) (6,809)      
Stockholders' Equity $ (50,519) (64,021) (59,507) (50,519)    
Reinsurance Recoverable for Paid and Unpaid Claims and Claims Adjustments [1]   (19,777) (19,952)      
Reinsurance Recoverable Future Policy Benefits [1]   (289) (280)      
Deferred policy acquisition costs   8,358 7,152      
Value of business acquired 3,702 3,223 3,674 3,702   $ 235
Goodwill 16,228 19,579 [2] 19,686 16,228    
Prepaid Reinsurance Premiums   (3,378) (3,221)      
Liability for Claims and Claims Adjustment Expense (75,747) (84,004) (80,122) (75,747)   $ (72,330)
Unearned Premiums   (23,504) (22,051)      
Future policy benefits   16,121 13,888      
Market risk benefits   607 771      
Reinsurance Payable   (8,121) (8,302)      
Deferred tax liabilities   1,584 1,555      
Premiums Written, Net   (51,468) (47,361) (41,720)    
Premiums Earned, Net   (49,846) (45,712) (40,360)    
Realized Investment Gains (Losses)   (117) 607 1,085    
Market Risk Benefit, Change in Fair Value, Gain (Loss)   140 307 (80)    
Policyholder Benefits and Claims Incurred, Net   (26,022) (24,100) (22,572)    
Liability for Future Policy Benefits, Period Expense (Income)   (4,714) (3,628) (2,314)    
Other (income) expense   (1,023) (836) 89    
Income Tax Expense (Benefit)   (1,815) (511) (1,239)    
Current discount rate on future policy benefits   (701) 84 1,480    
Instrument-specific credit risk on market risk benefits   7 2 33    
Other Comprehensive Income (Loss), Tax   (117) (317) 965    
Comprehensive income (loss)   7,658 12,376 (3,865)    
Net Cash Provided by (Used in) Operating Activities, Total   16,182 12,632 11,258    
Net Cash Provided by (Used in) Financing Activities   $ (2,181) $ (4,489) $ (5,142)    
Huatai Group [Member]            
Summary of significant accounting policies [Line Items]            
Subsidiary, Ownership Percentage, Parent   85.50% 76.50%   69.60%  
Cigna's Life Insurance Business in Asian Markets            
Summary of significant accounting policies [Line Items]            
Net income attributable to Chubb $ 140          
Minimum            
Summary of significant accounting policies [Line Items]            
Reinsurance Premiums, Amortization Period   1 year        
Debt Securities, Held-to-Maturity, Accrued Interest, Threshold Period, Writeoff   30 days        
Maximum            
Summary of significant accounting policies [Line Items]            
Reinsurance Premiums, Amortization Period   3 years        
Affiliated notional cash pooling program   $ 300        
Finite-Lived Intangible Asset, Useful Life   25 years        
Debt Securities, Held-to-Maturity, Accrued Interest, Threshold Period, Writeoff   45 days        
Fair Value Adjustment to Acquired Loss Reserves [Member] | The Chubb Corporation [Member]            
Summary of significant accounting policies [Line Items]            
Balance of FV adjustment on Unpaid Losses and Loss Expenses   $ 60 $ 62      
Software Development [Member]            
Summary of significant accounting policies [Line Items]            
Property, Plant and Equipment, Net   $ 1,900        
Property, Plant and Equipment, Useful Life   15 years        
Software Development [Member] | Minimum            
Summary of significant accounting policies [Line Items]            
Property, Plant and Equipment, Useful Life   3 years        
Software Development [Member] | Maximum            
Summary of significant accounting policies [Line Items]            
Property, Plant and Equipment, Useful Life   5 years        
Building [Member]            
Summary of significant accounting policies [Line Items]            
Property, Plant and Equipment, Net   $ 431        
Building [Member] | Maximum            
Summary of significant accounting policies [Line Items]            
Property, Plant and Equipment, Useful Life   40 years        
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $499 million attributable to noncontrolling interests
v3.25.0.1
General and significant accounting policies (ASU 2018-12 Transition) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Reinsurance recoverable on losses and loss expenses [1] $ (19,777) $ (19,952)    
Reinsurance Recoverable Future Policy Benefits [1] (289) (280)    
Deferred policy acquisition costs 8,358 7,152    
Value of business acquired (3,223) (3,674) $ (3,702) $ (235)
Goodwill 19,579 [2] 19,686 16,228  
Prepaid Reinsurance Premiums (3,378) (3,221)    
Liability for Claims and Claims Adjustment Expense (84,004) (80,122) (75,747) $ (72,330)
Unearned Premiums (23,504) (22,051)    
Future policy benefits 16,121 13,888    
Market risk benefits 607 771    
Reinsurance Payable (8,121) (8,302)    
Deferred tax liabilities (1,584) (1,555)    
Retained earnings (61,561) (54,810)    
Accumulated other comprehensive income (loss) (8,644) (6,809)    
Premiums Written, Net (51,468) (47,361) (41,720)  
Premiums Earned, Net (49,846) (45,712) (40,360)  
Realized Investment Gains (Losses) (117) 607 1,085  
Market Risk Benefit, Change in Fair Value, Gain (Loss) 140 307 (80)  
Policyholder Benefits and Claims Incurred, Net (26,022) (24,100) (22,572)  
Policy benefits (4,714) (3,628) (2,314)  
Policy acquisition costs (9,102) (8,259) (7,339)  
Other (income) expense (1,023) (836) 89  
Income Tax Expense (Benefit) (1,815) (511) (1,239)  
Net income (loss) (9,272) (9,028) (5,246)  
Current discount rate on future policy benefits (701) 84 1,480  
Instrument-specific credit risk on market risk benefits 7 2 33  
Other Comprehensive Income (Loss), Tax (117) (317) 965  
Comprehensive income (loss) 7,658 12,376 (3,865)  
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 7,437 12,404 (3,865)  
Net Cash Provided by (Used in) Operating Activities, Total 16,182 12,632 11,258  
Net Cash Provided by (Used in) Financing Activities (2,181) (4,489) (5,142)  
Liability for Future Policy Benefit, Remeasurement Gain (Loss) (2) 19 3  
Equity in net income of subsidiaries and affiliates (967) (867) (1)  
Increase (Decrease) in Deferred Income Taxes 96 (1,124) 318  
Unpaid losses and loss expenses 4,567 3,470 4,259  
Unearned premiums 1,805 1,377 1,435  
Future policy benefits 1,841 848 333  
Accounts payable, accrued expenses, and other liabilities 342 (735) (68)  
Reinsurance recoverable (30) (498) (1,737)  
Increase (Decrease) in Deferred Policy Acquisition Costs (1,429) (1,100) (396)  
Increase (Decrease) in Other Operating Assets and Liabilities, Net 1,374 1,819 789  
Net cash flows used for investing activities (13,923) (7,648) (5,654)  
Life Insurance [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Goodwill 4,641 [2] 4,742 1,943  
Future policy benefits 14,680 12,679    
Premiums Written, Net (6,326) (5,465) (3,608)  
Premiums Earned, Net (6,273) (5,398) (3,510)  
Policyholder Benefits and Claims Incurred, Net (112) (114) (85)  
Policy acquisition costs (1,202) (1,089) (785)  
Other (income) expense (159) (115) (30)  
Overseas General Insurance [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Goodwill 5,047 [2] 5,262 4,605  
Premiums Written, Net (13,972) (12,575) (11,060)  
Premiums Earned, Net (13,400) (12,231) (10,803)  
Policyholder Benefits and Claims Incurred, Net (6,414) (5,643) (4,894)  
Policy acquisition costs (3,410) (3,113) (2,818)  
Other (income) expense 14 (25) 2  
Term Life Insurance | Life Insurance [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Deferred policy acquisition costs 469 402 324  
Future policy benefits 994 931    
Policy acquisition costs (121) (100)    
Whole Life Insurance | Life Insurance [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Deferred policy acquisition costs 870 534 392  
Future policy benefits 8,862 6,917    
Policy acquisition costs (37) (23)    
Accident and Health [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Premiums Earned, Net (6,488) (6,233) (4,892)  
Accident and Health [Member] | Life Insurance [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Deferred policy acquisition costs 1,681 1,301 891  
Future policy benefits 4,263 4,383    
Policy acquisition costs (182) (137)    
Insurance, Other [Member] | Life Insurance [Member]        
New Accounting Pronouncements or Change in Accounting Principle [Line Items]        
Deferred policy acquisition costs 324 274 $ 268  
Future policy benefits 561 448    
Policy acquisition costs $ (27) $ (29)    
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $499 million attributable to noncontrolling interests
v3.25.0.1
Acquisitions (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
May 31, 2024
Jul. 01, 2023
Jul. 01, 2022
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Dec. 31, 2021
Business Acquisition [Line Items]                  
Goodwill         $ 19,579 [1] $ 19,686   $ 16,228  
Other intangible assets         6,377 6,775      
Value of business acquired         3,223 3,674   $ 3,702 $ 235
Repurchase agreements         $ 2,731 $ 2,833      
Huatai Group [Member]                  
Business Acquisition [Line Items]                  
Subsidiary, Ownership Percentage, Parent   69.60%     85.50% 76.50%      
Additional 9.0 percent ownership interest obtained in subsidiary       9.00%          
Outstanding 1.6 percent additional ownership interest agreed on         1.60%        
Additional 1.0 percent interest agreed on         1.00%        
Huatai Group [Member]                  
Business Acquisition [Line Items]                  
Ownership Percentage             64.20%    
Cigna's Life Insurance Business in Asian Markets                  
Business Acquisition [Line Items]                  
Business Acquisition, Effective Date of Acquisition     Jul. 01, 2022            
Payments to Acquire Businesses, Gross     $ 5,400            
Huatai Group [Member]                  
Business Acquisition [Line Items]                  
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value   $ 4,100              
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain   763              
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Loss   17              
Write-off of Accumulated AOCI Loss Balance, Equity Method Invesmtent   611              
Business combination, Realized Gain (Loss) from Write-off of AOCI in Equity Method Investment   (628)              
Deposits previously paid on additional ownership interest obtained       $ 555          
Goodwill   3,458              
Other intangible assets   1,655              
Value of business acquired   $ 309              
Business Acquisition, Effective Date of Acquisition   Jul. 01, 2023              
Repurchase agreements   $ 1,269              
Deposits previously paid on ownership obtained       $ 319          
Payments to Acquire Additional Interest in Subsidiaries         $ 236        
Healthy Paws                  
Business Acquisition [Line Items]                  
Goodwill $ 256                
Other intangible assets $ 44                
Business Acquisition, Effective Date of Acquisition May 31, 2024                
Payments to Acquire Businesses, Gross $ 300                
[1] Includes $499 million attributable to noncontrolling interests
v3.25.0.1
Acquisitions (Schedule of recognized identifiable assets acquired and liabilities assumed) (Details) - USD ($)
$ in Millions
May 31, 2024
Jul. 01, 2022
Dec. 31, 2024
Dec. 31, 2023
Jul. 01, 2023
Dec. 31, 2022
Dec. 31, 2021
Business Acquisition [Line Items]              
Accrued investment income     $ 1,160 $ 1,086      
Insurance and reinsurance balances receivable     14,426 13,379      
Reinsurance recoverable on losses and loss expenses [1]     19,777 19,952      
Reinsurance recoverable on policy benefits     289 280      
Value of business acquired     3,223 3,674   $ 3,702 $ 235
Other assets     7,503 7,508      
Total assets     246,548 230,682      
Unpaid losses and loss expenses     84,004 80,122   75,747 $ 72,330
Unearned premiums     23,504 22,051      
Future policy benefits     16,121 13,888      
Policyholders' account balances     8,016 7,462      
Insurance and reinsurance balances payable     8,121 8,302      
Accounts Payable and Accrued Liabilities     10,192 8,332      
Deferred tax liabilities     1,584 1,555      
Repurchase agreements     2,731 2,833      
Total liabilities     178,154 166,991      
Stockholders' Equity     64,021 59,507   50,519  
Noncontrolling interests     4,373 4,184      
Total shareholders’ equity     68,394 63,691   50,519  
Total liabilities and shareholders’ equity     246,548 230,682      
Other intangible assets     6,377 6,775      
Goodwill     $ 19,579 [2] $ 19,686   $ 16,228  
Cigna's Life Insurance Business in Asian Markets              
Business Acquisition [Line Items]              
Payments to Acquire Businesses, Gross   $ 5,400          
Huatai Group [Member]              
Business Acquisition [Line Items]              
Investments and Cash         $ 13,346    
Accrued investment income         60    
Insurance and reinsurance balances receivable         277    
Reinsurance recoverable on losses and loss expenses         581    
Reinsurance recoverable on policy benefits         27    
Value of business acquired         309    
Goodwill and intangible assets         5,113    
Other assets         748    
Total assets         20,461    
Unpaid losses and loss expenses         831    
Unearned premiums         800    
Future policy benefits         2,351    
Policyholders' account balances         4,014    
Insurance and reinsurance balances payable         644    
Accounts Payable and Accrued Liabilities         682    
Deferred tax liabilities         232    
Repurchase agreements         1,269    
Total liabilities         10,823    
Stockholders' Equity         4,428    
Noncontrolling interests         5,210    
Total shareholders’ equity         9,638    
Other intangible assets         1,655    
Goodwill         $ 3,458    
Healthy Paws              
Business Acquisition [Line Items]              
Other intangible assets $ 44            
Payments to Acquire Businesses, Gross 300            
Goodwill $ 256            
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $499 million attributable to noncontrolling interests
v3.25.0.1
Acquisitions (Acquisition operations) (Details) - USD ($)
$ in Millions
 6 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]          
Total revenues     $ 55,753 $ 49,735 $ 43,097
Net income     9,640 9,015 5,246
Net loss attributable to Chubb     $ 9,272 $ 9,028 $ 5,246
Huatai Group [Member]          
Business Acquisition [Line Items]          
Total revenues $ 739        
Net income (30)        
Net loss attributable to Chubb $ (17)        
Cigna's Life Insurance Business in Asian Markets          
Business Acquisition [Line Items]          
Total revenues   $ 1,507      
Net loss attributable to Chubb   $ 140      
v3.25.0.1
Acquisitions (Finite-lived and indefinite-lived intangible assets acquired) (Details) - USD ($)
$ in Millions
Jul. 01, 2023
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Intangible assets not subject to amortization   $ 3,477 $ 3,508
Intangible Assets, Net (Excluding Goodwill)   $ 6,377 $ 6,775
Huatai Group [Member]      
Finite-Lived Intangible Assets [Line Items]      
Intangible Assets, Net (Excluding Goodwill) $ 1,655    
Huatai Group [Member] | Trademarks      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets not subject to amortization 398    
Huatai Group [Member] | Asset management mutual funds      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets not subject to amortization 122    
Huatai Group [Member] | Distribution Rights [Member]      
Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets Acquired $ 332    
Finite-Lived Intangible Asset, Useful Life 20 years    
Huatai Group [Member] | Asset management mutual funds      
Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets Acquired $ 94    
Finite-Lived Intangible Asset, Useful Life 16 years    
Huatai Group [Member] | Unearned Premium Reserves Intangible Asset      
Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets Acquired $ 95    
Finite-Lived Intangible Asset, Useful Life 3 years    
Huatai Group [Member] | Use Rights [Member]      
Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets Acquired $ 569    
Finite-Lived Intangible Asset, Useful Life 31 years    
Huatai Group [Member] | Technology-Based Intangible Assets [Member]      
Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets Acquired $ 45    
Finite-Lived Intangible Asset, Useful Life 6 years    
v3.25.0.1
Acquisitions (Pro forma) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]      
Net premiums earned $ 49,846 $ 45,712 $ 40,360
Cigna's Life Insurance Business in Asian Markets | Pro Forma      
Business Acquisition [Line Items]      
Net premiums earned     41,884
Total revenues     44,605
Business Acquisition, Pro Forma Net Income (Loss)     5,533
Huatai Group [Member] | Pro Forma      
Business Acquisition [Line Items]      
Net premiums earned   46,502 41,903
Total revenues   50,550 44,936
Business Acquisition, Pro Forma Net income (loss), Including Portion Attributable to Noncontrolling Interests   8,850 5,290
Business Acquisition, Pro Forma Net Income (Loss)   $ 8,859 $ 5,267
v3.25.0.1
Investments (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
partnerships
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Investment [Line Items]      
Fixed maturities, available-for-sale, at amortized cost $ 115,083 $ 111,128  
Limited partnerships number | partnerships 174    
Restricted assets in fixed maturities and short-term investments $ 17,945 18,242  
Restricted assets in cash 261 172  
Available for sale, Fair Value 110,363 106,571  
Net realized gains (losses) 117 (607) $ (1,085)
Fixed maturities transferred to Reserved Alternative Investment Fund      
Investment [Line Items]      
Net realized gains (losses) (149)    
Fixed maturities transferred to Reserved Alternative Investment Fund      
Investment [Line Items]      
Noncash or Part Noncash Acquisition, Investments Acquired 5,000    
Available for sale, Fair Value 4,200    
Corporate and asset-backed securities      
Investment [Line Items]      
Fixed maturities, available-for-sale, at amortized cost 45,231 44,695  
Available for sale, Fair Value 43,207 42,830  
Mortgage-backed securities      
Investment [Line Items]      
Fixed maturities, available-for-sale, at amortized cost 29,158 23,720  
Available for sale, Fair Value 27,248 22,058  
Reserved alternative investment fund      
Investment [Line Items]      
Available for sale, Fair Value 5,000    
Other Investments      
Investment [Line Items]      
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure $ 97 $ 153  
v3.25.0.1
Investments (Schedule Of Amortized Cost and Fair Value of Available-for-Sale Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-Sale, Amortized Cost $ 115,083 $ 111,128  
Debt Securities, Available-for-sale, Allowance for Credit Loss (70) (156) $ (169)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 1,119 1,148  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (5,769) (5,549)  
Available for sale, Fair Value 110,363 106,571  
U.S. Treasury / Agency      
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-Sale, Amortized Cost 2,498 3,721  
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 3 13  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (160) (144)  
Available for sale, Fair Value 2,341 3,590  
Non-U.S.      
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-Sale, Amortized Cost 36,311 35,918  
Debt Securities, Available-for-sale, Allowance for Credit Loss (23) (49)  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 753 592  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (1,203) (1,297)  
Available for sale, Fair Value 35,838 35,164  
Corporate and asset-backed securities      
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-Sale, Amortized Cost 45,231 44,695  
Debt Securities, Available-for-sale, Allowance for Credit Loss (47) (104)  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 287 390  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (2,264) (2,151)  
Available for sale, Fair Value 43,207 42,830  
Mortgage-backed securities      
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-Sale, Amortized Cost 29,158 23,720  
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 (3)  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 69 143  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (1,979) (1,802)  
Available for sale, Fair Value 27,248 22,058  
Municipal      
Debt Securities, Available-for-sale [Line Items]      
Debt Securities, Available-for-Sale, Amortized Cost 1,885 3,074  
Debt Securities, Available-for-sale, Allowance for Credit Loss 0 0  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 7 10  
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (163) (155)  
Available for sale, Fair Value $ 1,729 $ 2,929  
v3.25.0.1
Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Available for sale, Due in 1 year or less, Fair Value & Net Carrying Value $ 4,507 $ 4,729
Available for sale, Due after 1 year through 5 years, Fair Value & Carrying Value 33,446 33,573
Available for sale, Due after 5 years through 10 years, Fair Value & Carrying Value 26,901 28,480
Available for sale, Due after 10 years, Fair Value & Carrying Value 18,261 17,731
Available for sale, Maturity, Allocated and Single Maturity Date, Fair Value 83,115 84,513
Available for sale, Maturity, Allocated and Single Maturity Date, Amortized Cost 83,115 84,513
Available for sale, Mortgage backed securities, Fair Value 27,248 22,058
Available for sale, Fair Value $ 110,363 $ 106,571
v3.25.0.1
Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months $ 27,956 $ 8,569
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (518) (176)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 39,789 53,950
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (4,230) (4,129)
Debt Securities, Available-for-sale, Unrealized Loss Position 67,745 62,519
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss (4,748) (4,305)
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 418 463
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (7) (9)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 1,477 2,504
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (153) (135)
Debt Securities, Available-for-sale, Unrealized Loss Position 1,895 2,967
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss (160) (144)
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 6,630 2,464
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (138) (43)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 12,023 15,971
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (874) (957)
Debt Securities, Available-for-sale, Unrealized Loss Position 18,653 18,435
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss (1,012) (1,000)
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 10,069 2,866
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (194) (51)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 13,290 20,334
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (1,259) (1,194)
Debt Securities, Available-for-sale, Unrealized Loss Position 23,359 23,200
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss (1,453) (1,245)
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 10,490 1,659
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (170) (58)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 11,987 13,831
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (1,794) (1,706)
Debt Securities, Available-for-sale, Unrealized Loss Position 22,477 15,490
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss (1,964) (1,764)
Municipal    
Debt Securities, Available-for-Sale, Unrealized Loss Position [Line Items]    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 349 1,117
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (9) (15)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 1,012 1,310
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (150) (137)
Debt Securities, Available-for-sale, Unrealized Loss Position 1,361 2,427
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss $ (159) $ (152)
v3.25.0.1
Investments (Rollforward of expected credit losses AFS) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]    
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Beginning Balance $ 156 $ 169
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease) 118 214
Debt Securities, Available-for-sale, Allowance for Credit Loss, Writeoff (6) (5)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery (198) (222)
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance $ 70 $ 156
v3.25.0.1
Investments (Rollforward of expected credit losses HTM) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]    
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Beginning Balance $ 0 $ 34
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Recovery 0 (34)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Ending Balance $ 0 $ 0
v3.25.0.1
Investments (Rollforward of expected credit losses Private Debt HFI) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Credit Loss [Abstract]    
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest, Beginning Balance $ 4 $ 0
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) 2 4
Financing Receivable, Allowance for Credit Loss, Recovery 2 0
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest, Ending Balance $ 4 $ 4
v3.25.0.1
Investments (Net Realized Gains (Losses) And Losses Included In Net Realized Gains (Losses) And Other Comprehensive Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Gain (Loss) on Securities [Line Items]      
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease) $ (118) $ (214)  
Foreign exchange gains( losses) (223) (183) $ 397
Derivative, Gain (Loss) on Derivative, Net (358) (252) 133
Net realized gains (losses) 117 (607) (1,085)
Unrealized Gain (Loss) on Investments (361) 3,120 (9,535)
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax (110) (328) 1,043
Other derivative instruments      
Gain (Loss) on Securities [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (4) (10) (11)
Investment and embedded derivative instruments      
Gain (Loss) on Securities [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (189) (53) (43)
Fixed Maturities [Member]      
Gain (Loss) on Securities [Line Items]      
Debt Securities, Available-for-sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment 132 208 619
Debt Securities, Available-for-sale, Realized Loss, Excluding Other-than-temporary Impairment (535) (656) (1,379)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease) 86 43 (154)
Debt Securities, Available-For-Sale, Credit Impairment Charges Intent to Sell [1] (94) (64) (135)
Debt Securities, Available-for-sale, Realized Gain (Loss) 191 (481) (1,049)
Equity Securities [Member]      
Gain (Loss) on Securities [Line Items]      
Equity Securities, FV-NI, Realized Gain (Loss) [2] 194 (38) (230)
Unrealized Gain (Loss) on Investments 169 30 (639)
Other Investments      
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) [2] 602 (12) 0
Unrealized Gain (Loss) on Investments 598 (12)  
Available-for-sale Securities [Member]      
Gain (Loss) on Securities [Line Items]      
Unrealized Gain (Loss) on Investments (251) 3,563 (10,583)
Fixed maturities held to maturity      
Gain (Loss) on Securities [Line Items]      
Unrealized Gain (Loss) on Investments 0 (125) (15)
Other [Member]      
Gain (Loss) on Securities [Line Items]      
Gain (Loss) on Sale of Other Investments 24 88 (118)
Unrealized Gain (Loss) on Investments 0 10 20
Private equities      
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) 124 70 (31)
Unrealized Gain (Loss) on Investments 124 $ 70 $ (31)
Reserved alternative investment fund      
Gain (Loss) on Securities [Line Items]      
Equity Securities, FV-NI, Realized Gain (Loss) 22    
Other Investments - Fixed Maturities [Member]      
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) $ 275    
[1] Relates to certain securities we intended to sell and securities written to market entering default.
[2] In 2024, Other investments - Fixed maturities and Equity securities includes $275 million and $(22) million, respectively, of realized gains (losses) related to investments measured under the fair value option.
v3.25.0.1
Investments (Schedule of Gains and Losses on Equity and Other Investments) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) $ 117 $ (607) $ (1,085)
Unrealized gains (losses) recognized for securities still held at reporting date (361) 3,120 (9,535)
Equity Securities [Member]      
Gain (Loss) on Securities [Line Items]      
Equity Securities, FV-NI, Realized Gain (Loss) [1] 194 (38) (230)
Less: Net gains (losses) recognized from sales of securities 25 (68) 409
Unrealized gains (losses) recognized for securities still held at reporting date 169 30 (639)
Other Investments      
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) [1] 602 (12) 0
Less: Net gains (losses) recognized from sales of securities 4 0  
Unrealized gains (losses) recognized for securities still held at reporting date 598 (12)  
Private equities      
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) 124 70 (31)
Less: Net gains (losses) recognized from sales of securities 0 0 0
Unrealized gains (losses) recognized for securities still held at reporting date 124 70 (31)
Equity securities, Private equities and other investments      
Gain (Loss) on Securities [Line Items]      
Net realized gains (losses) 920 20 (261)
Less: Net gains (losses) recognized from sales of securities 29 (68) 409
Unrealized gains (losses) recognized for securities still held at reporting date $ 891 $ 88 $ (670)
[1] In 2024, Other investments - Fixed maturities and Equity securities includes $275 million and $(22) million, respectively, of realized gains (losses) related to investments measured under the fair value option.
v3.25.0.1
Investments (Schedule Of Other Investments) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other Investment Not Readily Marketable [Line Items]    
Other investments $ 8,597 $ 5,527
Other Investments - Fixed Maturities [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments [1],[2] 4,600 3,800
Fixed Maturities - Fair Value Option    
Other Investment Not Readily Marketable [Line Items]    
Other investments 1,700  
Estimate of Fair Value Measurement [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments 8,597 5,527
Fixed Maturities [Member] | Other Accounting Method [Member] | Estimate of Fair Value Measurement [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments [1],[2] 6,265 3,773
Life [Member] | Other Accounting Method [Member] | Estimate of Fair Value Measurement [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments 518 463
Policy Loans [Member] | Other Accounting Method [Member] | Estimate of Fair Value Measurement [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments 941 651
Non-qualified separate account assets [Member] | Other Accounting Method [Member] | Estimate of Fair Value Measurement [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments [3] 256 258
Other [Member] | Other Accounting Method [Member] | Estimate of Fair Value Measurement [Member]    
Other Investment Not Readily Marketable [Line Items]    
Other investments $ 617 $ 382
[1] 2024 includes $1.7 billion of fixed maturities measured at fair value under the fair value option.
[2] Includes fixed maturities related to consolidated VIEs of $4.6 billion and $3.8 billion at December 31, 2024 and 2023, respectively. Refer to Note 1 g) to the Consolidated Financial Statements for additional information on the consolidation of VIEs.
[3] Non-qualified separate account assets comprise mutual funds, supported by assets that do not qualify for separate account reporting under U.S. GAAP.
v3.25.0.1
Investments (Entities That Calculate Net Asset Value Per Share) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
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 $ 6,442 $ 6,210
Private equities 14,769 14,078
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 281 364
Private equities 1,265 1,241
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 547 445
Private equities 1,974 2,137
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 679 936
Private equities 1,257 1,206
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 285 298
Private equities 295 331
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 4,650 4,167
Private equities 9,674 8,873
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
Private equities 64 72
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
Private equities $ 240 $ 218
Minimum | Financial [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 2 years 2 years
Minimum | Real Estate Funds [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 2 years 2 years
Minimum | Distressed Alternative Investments [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 2 years 2 years
Minimum | Private Credit Alternative Investments [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 3 years 3 years
Minimum | Private Equity Funds [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 2 years 2 years
Minimum | Vintage Alternative Investments [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 1 year 1 year
Maximum | Financial [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 10 years 10 years
Maximum | Real Estate Funds [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 13 years 13 years
Maximum | Distressed Alternative Investments [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 8 years 8 years
Maximum | Private Credit Alternative Investments [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 8 years 8 years
Maximum | Private Equity Funds [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 14 years 14 years
Maximum | Vintage Alternative Investments [Member]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]    
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period 3 years 3 years
v3.25.0.1
Investments (Schedule Of Sources Of Net Investment Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net Investment Income [Line Items]      
Gross investment income $ 6,136 $ 5,132 $ 3,920
Investment expenses (206) (195) (178)
Net investment income 5,930 4,937 3,742
Amortization of Debt Issuance Costs and Discounts (16) (21) (41)
Fixed maturities      
Net Investment Income [Line Items]      
Gross investment income 5,535 4,619 3,594
Short-term investments      
Net Investment Income [Line Items]      
Gross investment income 181 199 81
Other interest income      
Net Investment Income [Line Items]      
Gross investment income 80 69 42
Equity securities      
Net Investment Income [Line Items]      
Gross investment income 125 119 99
Private equities      
Net Investment Income [Line Items]      
Gross investment income 112 55 63
Other Investments      
Net Investment Income [Line Items]      
Gross investment income $ 103 $ 71 $ 41
v3.25.0.1
Investments (Schedule Of Components Of Restricted Assets) (Details) - Asset Pledged as Collateral without Right - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investment [Line Items]    
Trust funds $ 8,170 $ 8,482
Assets pledged under repurchase agreements 2,890 2,924
Deposits with U.S. regulatory authorities 2,487 2,544
Deposits with non-U.S. regulatory authorities and other 4,659 4,464
Total restricted assets $ 18,206 $ 18,414
v3.25.0.1
Fair Value Measurements (Narrative) (Detail)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Total revenues Total revenues Total revenues
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income (Loss), before Tax Other Comprehensive Income (Loss), before Tax Other Comprehensive Income (Loss), before Tax
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Total revenues Total revenues Total revenues
v3.25.0.1
Fair Value Measurements (Financial Instruments Measured At Fair Value on Recurring Basis) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value $ 110,363 $ 106,571
Equity securities 9,151 3,455
Short-term investments 5,142 4,551
Other investments 8,597 5,527
Securities lending collateral 1,445 1,299
Separate account assets 6,231 5,573
Market risk benefits 607 771
Reserved alternative investment fund    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Equity securities 4,978  
Policy Loans [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Other investments 1,241 702
Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Other investments 14,769 14,078
U.S. Treasury / Agency    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 2,341 3,590
Debt Security, Government, Non-US [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 35,838 35,164
Corporate securities    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 43,207 42,830
Mortgage-backed securities    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 27,248 22,058
States, municipalities, and political subdivisions    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 1,729 2,929
Level 1 | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 1,765 2,911
Equity securities 4,053 [1] 3,368
Short-term investments 3,156 1,915
Other investments 573 [2] 589 [3]
Securities lending collateral 0 0
Investment derivative instruments, assets 41 54
Derivative Instruments in Hedges, Assets, at Fair Value 0 0
Other Derivative Instruments Fair Value 35  
Separate account assets 6,165 5,482
Assets, Fair Value Disclosure 15,788 [1],[2],[4] 14,319 [3],[5]
Investment derivative instruments, liability 303 136
Derivative Instruments in Hedges, Liabilities, at Fair Value 0 0
Other derivative instruments, liability 0 37
Market risk benefits [6] 0 0
Liabilities Related to Investment Contracts, Fair Value Disclosure 303 173
Level 1 | U.S. Treasury / Agency | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 1,765 2,911
Level 1 | Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 0 0
Level 1 | Corporate securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 0 0
Level 1 | Mortgage-backed securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 0 0
Level 1 | States, municipalities, and political subdivisions | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 0 0
Level 2 | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 105,100 100,339
Equity securities 0 [1] 0
Short-term investments 1,972 2,633
Other investments 6,783 [2] 4,236 [3]
Securities lending collateral 1,445 1,299
Investment derivative instruments, assets 0 0
Derivative Instruments in Hedges, Assets, at Fair Value 146 136
Other Derivative Instruments Fair Value 0  
Separate account assets 66 91
Assets, Fair Value Disclosure 115,512 [1],[2],[4] 108,734 [3],[5]
Investment derivative instruments, liability 0 0
Derivative Instruments in Hedges, Liabilities, at Fair Value 116 128
Other derivative instruments, liability 2 5
Market risk benefits [6] 0 0
Liabilities Related to Investment Contracts, Fair Value Disclosure 118 133
Level 2 | U.S. Treasury / Agency | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 576 679
Level 2 | Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 35,234 34,472
Level 2 | Corporate securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 40,316 40,208
Level 2 | Mortgage-backed securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 27,245 22,051
Level 2 | States, municipalities, and political subdivisions | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 1,729 2,929
Level 3 | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 3,498 3,321
Equity securities 120 [1] 87
Short-term investments 14 3
Other investments 0 [2] 0 [3]
Securities lending collateral 0 0
Investment derivative instruments, assets 0 0
Derivative Instruments in Hedges, Assets, at Fair Value 0 0
Other Derivative Instruments Fair Value 0  
Separate account assets 0 0
Assets, Fair Value Disclosure 3,632 [1],[2],[4] 3,411 [3],[5]
Investment derivative instruments, liability 0 0
Derivative Instruments in Hedges, Liabilities, at Fair Value 0 0
Other derivative instruments, liability 0 0
Market risk benefits [6] 607 771
Liabilities Related to Investment Contracts, Fair Value Disclosure 607 771
Level 3 | U.S. Treasury / Agency | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 0 0
Level 3 | Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 604 692
Level 3 | Corporate securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 2,891 2,622
Level 3 | Mortgage-backed securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 3 7
Level 3 | States, municipalities, and political subdivisions | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 0 0
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 110,363 106,571
Equity securities 4,173 [1] 3,455
Short-term investments 5,142 4,551
Other investments 7,356 [2] 4,825 [3]
Securities lending collateral 1,445 1,299
Investment derivative instruments, assets 41 54
Derivative Instruments in Hedges, Assets, at Fair Value 146 136
Other Derivative Instruments Fair Value 35  
Separate account assets 6,231 5,573
Assets, Fair Value Disclosure 134,932 [1],[2],[4] 126,464 [3],[5]
Investment derivative instruments, liability 303 136
Derivative Instruments in Hedges, Liabilities, at Fair Value 116 128
Other derivative instruments, liability 2 42
Market risk benefits [6] 607  
Liabilities Related to Investment Contracts, Fair Value Disclosure 1,028 1,077
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Fair Value, Recurring [Member] | Guaranteed Minimum Income Benefit    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Market risk benefits [6]   771
Fair Value, Inputs, Level 1, Level 2, and Level 3 | U.S. Treasury / Agency | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 2,341 3,590
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Debt Security, Government, Non-US [Member] | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 35,838 35,164
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Corporate securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 43,207 42,830
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Mortgage-backed securities | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value 27,248 22,058
Fair Value, Inputs, Level 1, Level 2, and Level 3 | States, municipalities, and political subdivisions | Fair Value, Recurring [Member]    
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]    
Available for sale, Fair Value $ 1,729 $ 2,929
[1] Excluded from the table above is a fund of $4,978 million, measured using NAV as a practical expedient.
[2] Excluded from the table above are other investments of $1,241 million, principally policy loans measured using NAV as a practical expedient
[3] Excluded from the table above are other investments of $702 million, principally policy loans measured using NAV as a practical expedient.
[4] Excluded from the table above are private equities of $14,769 million, measured using NAV as a practical expedient.
[5] Excluded from the table above are private equities of $14,078 million, measured using NAV as a practical expedient.
[6] Refer to Note 11 for additional information on Market risk benefits.
v3.25.0.1
Fair value measurements (Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - Level 3 - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Equity securities      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]      
Balance- Beginning of year, assets $ 87 $ 90 $ 77
Transfers into Level 3, assets 0 0 1
Transfers out of Level 3, assets 0 0 0
Change in Net Unrealized Gains (Losses) included in OCI, Assets 0 0 0
Net Realized Gains/Losses, Assets 8 (7) 15
Purchased, assets 43 24 9
Sales, assets (18) (20) (12)
Settlements, assets 0 0 0
Balance- End of year, assets 120 87 90
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets 7 (7) 14
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets 0 0 0
Short-term investments      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]      
Balance- Beginning of year, assets 3 3 7
Transfers into Level 3, assets 0 0 0
Transfers out of Level 3, assets 0 0 0
Change in Net Unrealized Gains (Losses) included in OCI, Assets 0 (1) 0
Net Realized Gains/Losses, Assets 0 (1) (2)
Purchased, assets 20 5 3
Sales, assets (1) (3) 0
Settlements, assets (8) 0 (5)
Balance- End of year, assets 14 3 3
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets 0 0 (1)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets (1) 0 0
Available-for-sale Securities [Member] | Non-U.S.      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]      
Balance- Beginning of year, assets 692 564 633
Transfers into Level 3, assets 2 21 23
Transfers out of Level 3, assets (7) (22) (23)
Change in Net Unrealized Gains (Losses) included in OCI, Assets 7 13 (53)
Net Realized Gains/Losses, Assets (13) (4) (6)
Purchased, assets 262 258 156
Sales, assets (99) (82) (59)
Settlements, assets (240) (56) (107)
Balance- End of year, assets 604 692 564
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets 0 (1) (2)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets (2) 7 (53)
Available-for-sale Securities [Member] | Corporate and asset-backed securities      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]      
Balance- Beginning of year, assets 2,622 2,449 2,049
Transfers into Level 3, assets 57 30 47
Transfers out of Level 3, assets (9) (26) (97)
Change in Net Unrealized Gains (Losses) included in OCI, Assets 12 28 (80)
Net Realized Gains/Losses, Assets (15) (17) (14)
Purchased, assets 1,042 681 921
Sales, assets (250) (81) (85)
Settlements, assets (568) (442) (292)
Balance- End of year, assets 2,891 2,622 2,449
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets (3) (5) (9)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets (2) 12 (84)
Available-for-sale Securities [Member] | Mortgage-backed securities      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]      
Balance- Beginning of year, assets 7 11 26
Transfers into Level 3, assets 0 0 0
Transfers out of Level 3, assets (54) (15) (9)
Change in Net Unrealized Gains (Losses) included in OCI, Assets 0 0 0
Net Realized Gains/Losses, Assets 0 0 0
Purchased, assets 54 15 4
Sales, assets 0 0 0
Settlements, assets (4) (4) (10)
Balance- End of year, assets 3 7 11
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets 0 0 0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets $ 0 $ 0 $ 0
v3.25.0.1
Fair Value Measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Private debt held-for-investment $ 2,628 $ 2,553
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 2,731 2,833
Short-term debt 800 1,460
Long-term debt 14,379 13,035
Hybrid debt 419 308
Cost    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Private debt held-for-investment 2,628 2,553
Assets, Fair Value Disclosure, Total 2,628 2,553
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 2,731 2,833
Short-term debt 800 1,460
Long-term debt 14,379 13,035
Hybrid debt 419 308
Liabilities, Fair Value Disclosure, Total 18,329 17,636
Level 1 | Portion at Other than Fair Value Measurement    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Private debt held-for-investment 0 0
Assets, Fair Value Disclosure, Total 0 0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 0 0
Short-term debt, Fair Value 0 0
Long-term debt, Fair Value 0 0
Hybrid debt, FV 0 0
Liabilities, Fair Value Disclosure, Total 0 0
Level 2 | Portion at Other than Fair Value Measurement    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Private debt held-for-investment 0 0
Assets, Fair Value Disclosure, Total 0 0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 2,731 2,833
Short-term debt, Fair Value 797 1,431
Long-term debt, Fair Value 12,979 11,924
Hybrid debt, FV 479 365
Liabilities, Fair Value Disclosure, Total 16,986 16,553
Level 3 | Portion at Other than Fair Value Measurement    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Private debt held-for-investment 2,680 2,560
Assets, Fair Value Disclosure, Total 2,680 2,560
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 0 0
Short-term debt, Fair Value 0 0
Long-term debt, Fair Value 0 0
Hybrid debt, FV 0 0
Liabilities, Fair Value Disclosure, Total 0 0
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Portion at Other than Fair Value Measurement    
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]    
Private debt held-for-investment 2,680 2,560
Assets, Fair Value Disclosure, Total 2,680 2,560
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]    
Repurchase agreements 2,731 2,833
Short-term debt, Fair Value 797 1,431
Long-term debt, Fair Value 12,979 11,924
Hybrid debt, FV 479 365
Liabilities, Fair Value Disclosure, Total $ 16,986 $ 16,553
v3.25.0.1
Reinsurance (Consolidated Reinsurance) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Premiums written [Abstract]      
Direct $ 56,867 $ 52,969 $ 47,511
Assumed 5,136 4,557 4,467
Ceded (10,535) (10,165) (10,258)
Net 51,468 47,361 41,720
Premiums earned [Abstract]      
Direct 55,148 51,582 46,160
Assumed 4,970 4,289 4,395
Ceded (10,272) (10,159) (10,195)
Net premiums earned 49,846 45,712 40,360
Policyholder Benefits and Claims Incurred, Ceded $ 6,500 $ 7,200 $ 6,900
v3.25.0.1
Reinsurance (Reinsurance Recoverable on Ceded Reinsurance) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
 [2]
Reinsurance Disclosures [Abstract]        
Reinsurance recoverable on unpaid losses and loss expenses $ 17,734 [1] $ 17,884 [1] $ 17,086 [2] $ 16,132
Reinsurance recoverable on unpaid losses and loss expenses, allowance 242 285    
Reinsurance recoverable on paid losses and loss expenses [1] 2,043 2,068    
Reinsurance recoverable on paid losses and loss expenses, allowance 68 82    
Reinsurance recoverable on losses and loss expenses [1] 19,777 19,952    
Reinsurance recoverable on losses and loss expenses, allowance 310 367 $ 351  
Reinsurance recoverable on policy benefits [1] 289 280    
Reinsurance recoverable on policy benefits, allowance $ 0 $ 0    
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Net of valuation allowance for uncollectible reinsurance.
v3.25.0.1
Reinsurance, Allowance (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Reinsurance Disclosures [Abstract]    
Reinsurance Recoverable, Allowance for Credit Loss, Beginning Balance $ 367 $ 351
Provision for (release of) uncollectible reinsurance (15) 47
Write-offs charged against the valuation allowance (41) (32)
Foreign exchange revaluation (1) 1
Reinsurance Recoverable, Allowance for Credit Loss, Ending Balance $ 310 $ 367
v3.25.0.1
Reinsurance (Reinsurance Recoverable by Category and Listing of Largest Reinsurers) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 20,087    
Valuation allowance for Uncollectible Reinsurance $ 310 $ 367 $ 351
% of Gross Reinsurance Recoverable 1.50%    
Largest reinsurers      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 10,278    
Valuation allowance for Uncollectible Reinsurance $ 116    
% of Gross Reinsurance Recoverable 1.10%    
Other reinsurers rated A- or better      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 5,557    
Valuation allowance for Uncollectible Reinsurance $ 67    
% of Gross Reinsurance Recoverable 1.20%    
Other reinsurers rated lower than A- or not rated      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 441    
Valuation allowance for Uncollectible Reinsurance $ 27    
% of Gross Reinsurance Recoverable 6.10%    
Pools      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 422    
Valuation allowance for Uncollectible Reinsurance $ 10    
% of Gross Reinsurance Recoverable 2.40%    
Structured settlements      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 489    
Valuation allowance for Uncollectible Reinsurance $ 8    
% of Gross Reinsurance Recoverable 1.60%    
Captives      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 2,704    
Valuation allowance for Uncollectible Reinsurance $ 13    
% of Gross Reinsurance Recoverable 0.50%    
Other      
Ceded Credit Risk [Line Items]      
Gross Reinsurance Recoverable on Losses and Loss Expenses $ 196    
Valuation allowance for Uncollectible Reinsurance $ 69    
% of Gross Reinsurance Recoverable 35.20%    
v3.25.0.1
Deferred acquisition costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost $ 8,358 $ 7,152  
Balance – beginning of period 7,152    
Amortization expense (9,102) (8,259) $ (7,339)
Balance - end of period 8,358 7,152  
Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Amortization expense (1,202) (1,089) (785)
Overseas General Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Amortization expense (3,410) (3,113) (2,818)
Short-Duration Insurance, Other      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 3,687 3,346  
Balance – beginning of period 3,346    
Balance - end of period 3,687 3,346  
Long-Duration Insurance, Other      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 4,671 3,806  
Balance – beginning of period 3,806    
Balance - end of period 4,671 3,806  
Long-Duration Insurance, Other | Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 4,066 3,185 2,514
Balance – beginning of period 3,185 2,514  
Capitalizations 1,456 1,064  
Amortization expense (448) (369)  
Other (including foreign exchange) (127) (24)  
Balance - end of period 4,066 3,185 2,514
Long-Duration Insurance, Other | Overseas General Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 605 621  
Balance – beginning of period 621    
Balance - end of period 605 621  
Term Life Insurance | Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 469 402 324
Balance – beginning of period 402 324  
Capitalizations 201 176  
Amortization expense (121) (100)  
Other (including foreign exchange) (13) 2  
Balance - end of period 469 402 324
Universal Life | Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 722 674 639
Balance – beginning of period 674 639  
Capitalizations 156 129  
Amortization expense (81) (80)  
Other (including foreign exchange) (27) (14)  
Balance - end of period 722 674 639
Whole Life Insurance | Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 870 534 392
Balance – beginning of period 534 392  
Capitalizations 387 159  
Amortization expense (37) (23)  
Other (including foreign exchange) (14) 6  
Balance - end of period 870 534 392
Accident and Health [Member] | Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 1,681 1,301 891
Balance – beginning of period 1,301 891  
Capitalizations 630 564  
Amortization expense (182) (137)  
Other (including foreign exchange) (68) (17)  
Balance - end of period 1,681 1,301 891
Insurance, Other [Member] | Life Insurance [Member]      
Deferred Policy Acquisition Cost [Line Items]      
Deferred Policy Acquisition Cost 324 274 268
Balance – beginning of period 274 268  
Capitalizations 82 36  
Amortization expense (27) (29)  
Other (including foreign exchange) (5) (1)  
Balance - end of period $ 324 $ 274 $ 268
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired (Roll-forward of Goodwill by Business Segment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Balance at beginning of period $ 19,686 $ 16,228
Goodwill, Purchase Accounting Adjustments 65 (2)
Foreign exchange revaluation and other (428) 66
Balance at end of period 19,579 [1] 19,686
goodwill attributable to noncontrolling interests 499  
North America Commercial P&C Insurance    
Goodwill [Roll Forward]    
Balance at beginning of period 6,946 6,945
Goodwill, Purchase Accounting Adjustments 0 0
Foreign exchange revaluation and other (34) 1
Balance at end of period 7,168 [1] 6,946
North America Personal P&C Insurance [Member]    
Goodwill [Roll Forward]    
Balance at beginning of period 2,231 2,230
Goodwill, Purchase Accounting Adjustments 0 0
Foreign exchange revaluation and other (13) 1
Balance at end of period 2,218 [1] 2,231
North America Agricultural Insurance [Member]    
Goodwill [Roll Forward]    
Balance at beginning of period 134 134
Goodwill, Purchase Accounting Adjustments 0 0
Foreign exchange revaluation and other 0 0
Balance at end of period 134 [1] 134
Overseas General Insurance [Member]    
Goodwill [Roll Forward]    
Balance at beginning of period 5,262 4,605
Goodwill, Purchase Accounting Adjustments 0 8
Foreign exchange revaluation and other (215) 87
Balance at end of period 5,047 [1] 5,262
Global Reinsurance [Member]    
Goodwill [Roll Forward]    
Balance at beginning of period 371 371
Goodwill, Purchase Accounting Adjustments 0 0
Foreign exchange revaluation and other 0 0
Balance at end of period 371 [1] 371
Life Insurance [Member]    
Goodwill [Roll Forward]    
Balance at beginning of period 4,742 1,943
Goodwill, Purchase Accounting Adjustments 65 (10)
Foreign exchange revaluation and other (166) (23)
Balance at end of period 4,641 [1] 4,742
Huatai Group [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   3,394
Huatai Group [Member] | North America Commercial P&C Insurance    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   0
Huatai Group [Member] | North America Personal P&C Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   0
Huatai Group [Member] | North America Agricultural Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   0
Huatai Group [Member] | Overseas General Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   562
Huatai Group [Member] | Global Reinsurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   0
Huatai Group [Member] | Life Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period   $ 2,832
Healthy Paws    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period 256  
Healthy Paws | North America Commercial P&C Insurance    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period 256  
Healthy Paws | North America Personal P&C Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period 0  
Healthy Paws | North America Agricultural Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period 0  
Healthy Paws | Overseas General Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period 0  
Healthy Paws | Global Reinsurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period 0  
Healthy Paws | Life Insurance [Member]    
Goodwill [Roll Forward]    
Goodwill, Acquired During Period $ 0  
[1] Includes $499 million attributable to noncontrolling interests
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired (VOBA) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Present Value of Future Insurance Profit [Line Items]      
VOBA balance, beginning of year $ 3,674 $ 3,702 $ 235
Amortization of Value of Business Acquired (VOBA) [1] (240) (281) (149)
Foreign exchange revaluation and other (211) (56) (17)
VOBA balance, end of year 3,223 3,674 3,702
Huatai Group [Member]      
Present Value of Future Insurance Profit [Line Items]      
Present Value of Future Insurance Profits, Addition from Acquisition 0 309 0
Cigna's Life Insurance Business in Asian Markets      
Present Value of Future Insurance Profit [Line Items]      
Present Value of Future Insurance Profits, Addition from Acquisition $ 0 $ 0 $ 3,633
[1] Recognized in Policy acquisition costs in the Consolidated statements of operations.
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired (Estimated Amortization Expense Related to VOBA Over Next Five Years) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Present Value of Future Insurance Profits, Amortization Expense, Next Five Years [Abstract]  
2025, VOBA $ 207
2026, VOBA 182
2027, VOBA 165
2028, VOBA 151
2029, VOBA 140
present value of future insurance $ 845
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired (Other Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Intangible assets subject to amortization $ 2,900 $ 3,267
Intangible assets not subject to amortization 3,477 3,508
Other intangible assets $ 6,377 $ 6,775
v3.25.0.1
Goodwill, Other intangible assets, and Value of business acquired (Estimated Amortization Expense Over Next Five Years) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Finite-Lived Intangible Assets [Line Items]  
2025, Other intangible assets $ 326
2026, Other intangible assets 298
2027, Other intangible assets 274
2028, Other intangible assets 260
2029, Other intangible assets 228
Total, Other intangible assets 1,386
Chubb Acquired Purchased Intangible Assets  
Finite-Lived Intangible Assets [Line Items]  
2025, Other intangible assets 298
2026, Other intangible assets 279
2027, Other intangible assets 259
2028, Other intangible assets 247
2029, Other intangible assets 215
Total, Other intangible assets 1,298
Use Rights [Member] | Huatai Group [Member]  
Finite-Lived Intangible Assets [Line Items]  
2025, Other intangible assets 12 [1]
2026, Other intangible assets 12 [1]
2027, Other intangible assets 12 [1]
2028, Other intangible assets 13 [1]
2029, Other intangible assets 13 [1]
Total, Other intangible assets 62 [1]
Unearned Premium Reserves Intangible Asset | Huatai Group [Member]  
Finite-Lived Intangible Assets [Line Items]  
2025, Other intangible assets 16 [2]
2026, Other intangible assets 7 [2]
2027, Other intangible assets 3 [2]
2028, Other intangible assets 0 [2]
2029, Other intangible assets 0 [2]
Total, Other intangible assets $ 26 [2]
[1] Recognized in Other (income) expense in the Consolidated statements of operations.
[2] Recognized in Policy acquisition costs in the Consolidated statements of operations.
v3.25.0.1
Unpaid losses and loss expenses Unpaid losses and loss expenses (Reconciliation of reserve Balances to Liability for Unpaid Loss) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense $ 64,201      
Ceded unpaid loss and allocated loss adjustment expense 17,963      
Unpaid unallocated loss adjustment expenses 1,840      
Unpaid losses and loss expenses 84,004 $ 80,122 $ 75,747 $ 72,330
North America Commercial P&C Insurance - Workers' Compensation [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 10,195      
Ceded unpaid loss and allocated loss adjustment expense 1,090      
North America Commercial P&C Insurance - Liability [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 22,401      
Ceded unpaid loss and allocated loss adjustment expense 7,564      
North America Commercial P&C Insurance - Other Casualty [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 2,764      
Ceded unpaid loss and allocated loss adjustment expense 1,148      
North America Commercial P&C Insurance - Non-Casualty [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 3,572      
Ceded unpaid loss and allocated loss adjustment expense 1,022      
North America Personal P&C Insurance [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 4,182      
Ceded unpaid loss and allocated loss adjustment expense 529      
Overseas General Insurance - Casualty [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 8,639      
Ceded unpaid loss and allocated loss adjustment expense 2,986      
Overseas General Insurance - Non-Casualty [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 3,907      
Ceded unpaid loss and allocated loss adjustment expense 1,880      
Global Reinsurance - Casualty [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 1,328      
Ceded unpaid loss and allocated loss adjustment expense 137      
Global Reinsurance - Non-Casualty [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 540      
Ceded unpaid loss and allocated loss adjustment expense 83      
Other Segments [Member]        
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]        
Net Unpaid Loss and Allocated Loss Adjustment Expense 6,673      
Ceded unpaid loss and allocated loss adjustment expense $ 1,524      
v3.25.0.1
Unpaid losses and loss expenses (Unpaid Losses and Loss Expenses Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unpaid Losses and Loss Expenses [Roll Forward]      
Gross unpaid losses and loss expenses, beginning of year $ 80,122 $ 75,747 $ 72,330
Reinsurance recoverable on unpaid losses, beginning of year (17,884) [1] (17,086) [2] (16,132) [2]
Net unpaid losses and loss expenses, beginning of year 62,238 58,661 56,198
Net losses and loss expenses incurred in respect of losses occurring in Current Year 26,997 24,956 23,680
Prior Year Claims and Claims Adjustment Expense, net of PPD related to A&H (975) (856) [3] (1,108) [3]
Total 26,022 24,100 22,572
Net losses and loss expenses paid in Current Year 8,681 8,248 7,331
Net losses and loss expenses paid in Prior Year 12,822 12,763 12,206
Total 21,503 21,011 19,537
Foreign currency revaluation and other (487) 83 (572)
Net unpaid losses and loss expenses, end of year 66,270 62,238 58,661
Reinsurance recoverable on unpaid losses, end of year 17,734 [1] 17,884 [1] 17,086 [2]
Gross unpaid losses and loss expenses, end of year 84,004 80,122 75,747
Prior Period Development, net adjustments 119 83 232
Huatai Group [Member]      
Unpaid Losses and Loss Expenses [Roll Forward]      
Consolidation of Huatai Group 0 405 0
Liability for Claims and Claims Adjustment Expense [Line Items]      
Consolidation of Huatai Group $ 0 $ 405 $ 0
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Net of valuation allowance for uncollectible reinsurance.
[3] Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $119 million, $83 million, and $232 million for 2024, 2023, and 2022, respectively.
v3.25.0.1
Unpaid losses and loss expenses Unpaid Losses and loss expenses, claims development (Cumulative Net incurred Loss and Allocated Loss Adjustment Expense) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net $ 64,201                  
North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 12,683                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 5,456                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 10,195                  
Short-Duration PPD (373)                  
North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 41,853                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 21,459                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 22,401                  
Short-Duration PPD 415                  
North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 6,902                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 4,348                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 2,764                  
Short-Duration PPD 99                  
North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 24,417                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 20,850                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 3,572                  
Short-Duration PPD (434)                  
North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 29,329                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 25,183                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 4,182                  
Short-Duration PPD (301)                  
Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 14,949                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 6,954                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 8,639                  
Short-Duration PPD (27)                  
Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 22,115                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 18,337                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 3,907                  
Short-Duration PPD (261)                  
Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 2,708                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 1,647                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 1,328                  
Short-Duration PPD 1                  
Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 2,665                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 2,139                  
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net 540                  
Short-Duration PPD (28)                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,032 $ 1,057 $ 1,092 $ 1,128 $ 1,154 $ 1,217 $ 1,279 $ 1,276 $ 1,259 $ 1,282
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 257                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 679 665 645 628 606 564 501 418 301 116
Cumulative Number of Reported Claims 50,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,587 3,606 3,562 3,694 3,720 3,926 3,959 3,803 3,694 3,546
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 293                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 3,171 3,074 2,916 2,739 2,523 2,283 1,849 1,201 603 138
Cumulative Number of Reported Claims 27,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 450 455 456 461 453 456 513 499 468 485
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 12                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 432 430 422 410 393 369 303 214 137 47
Cumulative Number of Reported Claims 15,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,587 1,586 1,588 1,584 1,581 1,596 1,629 1,641 1,735 1,726
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net (1)                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,583 1,579 1,579 1,579 1,566 1,564 1,548 1,480 1,336 723
Cumulative Number of Reported Claims 545,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,561 2,552 2,555 2,553 2,556 2,550 2,530 2,547 2,536 2,482
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 19                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,533 2,537 2,530 2,520 2,495 2,466 2,380 2,259 2,073 1,491
Cumulative Number of Reported Claims 148,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,147 1,158 1,158 1,143 1,159 1,213 1,231 1,209 1,182 1,092
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 67                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 985 946 915 884 812 736 622 453 259 76
Cumulative Number of Reported Claims 40,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,787 1,780 1,785 1,785 1,803 1,809 1,825 1,854 1,877 1,763
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 11                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,757 1,752 1,753 1,750 1,733 1,706 1,685 1,610 1,394 764
Cumulative Number of Reported Claims 556,000                  
Short-duration Insurance Contracts, Accident Year 2015 [Member] | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 309 308 308 305 301 305 297 296 286 281
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 8                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 288 281 273 264 248 231 216 190 158 89
Short-duration Insurance Contracts, Accident Year 2015 [Member] | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 153 154 154 154 156 151 158 158 152 144
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 0                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 150 150 150 149 148 144 140 130 102 $ 56
Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,117 1,162 1,177 1,206 1,269 1,378 1,383 1,361 1,366  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 299                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 707 683 653 621 584 529 452 326 122  
Cumulative Number of Reported Claims 51,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,693 3,655 3,751 3,759 3,787 3,790 3,678 3,582 3,520  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 324                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 3,105 2,979 2,818 2,591 2,330 1,972 1,333 661 171  
Cumulative Number of Reported Claims 27,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 466 473 469 479 480 523 526 500 503  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 13                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 441 437 424 398 374 323 246 145 52  
Cumulative Number of Reported Claims 16,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,808 1,815 1,813 1,817 1,805 1,769 1,789 1,879 1,899  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 13                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,791 1,784 1,783 1,772 1,748 1,721 1,646 1,495 842  
Cumulative Number of Reported Claims 650,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,468 2,462 2,460 2,452 2,459 2,471 2,533 2,523 2,428  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 16                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,439 2,435 2,417 2,386 2,359 2,303 2,201 2,042 1,446  
Cumulative Number of Reported Claims 154,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,265 1,253 1,240 1,306 1,298 1,308 1,282 1,220 1,127  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 126                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,006 979 956 837 747 632 492 299 117  
Cumulative Number of Reported Claims 42,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,825 1,844 1,857 1,859 1,828 1,824 1,845 1,859 1,867  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 10                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,799 1,794 1,790 1,785 1,776 1,753 1,687 1,506 905  
Cumulative Number of Reported Claims 568,000                  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 252 251 244 239 239 230 231 223 219  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 10                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 228 217 207 190 173 157 141 112 57  
Short-duration Insurance Contracts, Accident Year 2016 [Member] | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 178 178 178 178 181 184 182 179 174  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 175 174 173 173 169 164 153 127 $ 55  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,069 1,121 1,176 1,376 1,393 1,399 1,380 1,412    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 329                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 648 626 601 564 516 437 313 120    
Cumulative Number of Reported Claims 50,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,517 3,487 3,428 3,539 3,617 3,566 3,485 3,310    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 446                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,866 2,624 2,320 1,998 1,696 1,158 615 160    
Cumulative Number of Reported Claims 26,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 609 602 590 603 615 576 564 530    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 19                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 560 538 496 445 380 312 175 65    
Cumulative Number of Reported Claims 17,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,490 2,500 2,514 2,504 2,513 2,496 2,599 2,695    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 44                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,445 2,442 2,422 2,399 2,385 2,295 2,080 975    
Cumulative Number of Reported Claims 764,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,006 3,005 2,995 2,986 2,986 2,990 3,057 3,022    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 9                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,978 2,966 2,925 2,858 2,788 2,656 2,509 1,690    
Cumulative Number of Reported Claims 163,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,268 1,268 1,303 1,268 1,302 1,256 1,210 1,113    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 109                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,035 974 921 796 638 488 292 88    
Cumulative Number of Reported Claims 43,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,053 2,016 2,049 2,052 2,028 2,045 2,059 2,018    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 38                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,994 1,994 2,017 1,959 1,920 1,850 1,687 955    
Cumulative Number of Reported Claims 577,000                  
Short-duration Insurance Contracts, Accident Year 2017 [Member] | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 224 221 214 214 213 216 211 210    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 7                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 196 186 173 153 138 121 99 46    
Short-duration Insurance Contracts, Accident Year 2017 [Member] | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 453 454 455 452 448 450 420 394    
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 7                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 441 439 433 426 413 399 321 $ 191    
Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,175 1,221 1,384 1,384 1,379 1,361 1,359      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 381                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 681 641 597 528 451 329 130      
Cumulative Number of Reported Claims 52,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,987 3,910 3,894 3,813 3,681 3,479 3,362      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 586                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 3,068 2,779 2,332 1,771 1,299 752 189      
Cumulative Number of Reported Claims 28,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 625 605 575 579 573 562 534      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 13                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 580 532 471 365 270 169 74      
Cumulative Number of Reported Claims 17,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,144 2,156 2,165 2,157 2,165 2,229 2,042      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 0                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,135 2,132 2,108 2,064 2,008 1,817 1,023      
Cumulative Number of Reported Claims 904,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,115 3,114 3,125 3,104 3,089 3,023 2,995      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 20                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 3,066 3,031 2,965 2,851 2,693 2,536 1,918      
Cumulative Number of Reported Claims 170,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,289 1,292 1,313 1,357 1,316 1,257 1,208      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 107                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 966 859 711 595 459 305 103      
Cumulative Number of Reported Claims 44,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,931 1,952 1,962 1,993 2,018 2,054 1,969      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 25                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,861 1,854 1,844 1,829 1,766 1,578 905      
Cumulative Number of Reported Claims 613,000                  
Short-duration Insurance Contracts, Accident Year 2018 [Member] | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 261 256 249 246 249 242 239      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 12                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 217 195 168 147 124 95 41      
Short-duration Insurance Contracts, Accident Year 2018 [Member] | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 277 280 286 281 285 283 276      
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 3                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 272 272 269 265 262 247 $ 94      
Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,297 1,406 1,409 1,400 1,383 1,390        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 447                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 692 640 575 467 341 143        
Cumulative Number of Reported Claims 48,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 4,007 4,051 4,043 3,851 3,613 3,440        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 824                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,753 2,384 1,885 1,243 667 175        
Cumulative Number of Reported Claims 30,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 766 755 742 684 635 605        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 38                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 684 618 464 318 189 70        
Cumulative Number of Reported Claims 17,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,921 1,917 1,940 1,950 2,027 2,042        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 12                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,894 1,879 1,853 1,796 1,669 1,026        
Cumulative Number of Reported Claims 1,044,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,971 2,951 2,972 2,980 2,979 2,941        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 47                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,879 2,817 2,712 2,605 2,426 1,660        
Cumulative Number of Reported Claims 157,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,227 1,308 1,349 1,362 1,342 1,277        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 148                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 817 710 634 432 308 114        
Cumulative Number of Reported Claims 43,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,912 1,934 1,937 1,949 2,008 1,990        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net (10)                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,872 1,851 1,819 1,756 1,576 953        
Cumulative Number of Reported Claims 632,000                  
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 241 234 237 237 242 233        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 27                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 182 162 138 115 89 39        
Short-Duration Insurance Contract, Accident Year 2019 [Member] | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 114 114 118 124 126 128        
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net (1)                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 107 103 101 93 79 $ 35        
Short-Duration Insurance Contract, Accident Year 2020 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,395 1,408 1,409 1,388 1,367          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 690                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 520 466 390 282 111          
Cumulative Number of Reported Claims 32,000                  
Short-Duration Insurance Contract, Accident Year 2020 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,839 3,972 3,914 3,821 4,095          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,124                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,269 1,696 1,146 588 151          
Cumulative Number of Reported Claims 24,000                  
Short-Duration Insurance Contract, Accident Year 2020 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 613 637 655 632 639          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 68                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 480 400 273 156 54          
Cumulative Number of Reported Claims 11,000                  
Short-Duration Insurance Contract, Accident Year 2020 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,658 2,680 2,721 2,937 3,133          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 41                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,575 2,541 2,462 2,256 1,386          
Cumulative Number of Reported Claims 1,126,000                  
Short-Duration Insurance Contract, Accident Year 2020 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,577 2,577 2,620 2,622 2,914          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 59                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,433 2,359 2,218 1,985 1,328          
Cumulative Number of Reported Claims 123,000                  
Short-Duration Insurance Contract, Accident Year 2020 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,278 1,498 1,485 1,565 1,644          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 415                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 638 516 417 265 99          
Cumulative Number of Reported Claims 35,000                  
Short-Duration Insurance Contract, Accident Year 2020 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,989 2,017 2,067 2,189 2,319          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 82                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,810 1,811 1,700 1,560 979          
Cumulative Number of Reported Claims 534,000                  
Short-Duration Insurance Contract, Accident Year 2020 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 232 237 237 246 242          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 30                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 168 148 124 98 41          
Short-Duration Insurance Contract, Accident Year 2020 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 278 278 276 252 208          
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 17                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 242 231 214 176 $ 62          
Short-Duration Insurance Contract, Accident Year 2021 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,370 1,372 1,330 1,348            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 618                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 552 458 331 120            
Cumulative Number of Reported Claims 36,000                  
Short-Duration Insurance Contract, Accident Year 2021 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 4,532 4,434 4,343 4,310            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,984                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,927 1,198 608 173            
Cumulative Number of Reported Claims 25,000                  
Short-Duration Insurance Contract, Accident Year 2021 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 762 746 709 674            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 188                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 439 293 176 60            
Cumulative Number of Reported Claims 15,000                  
Short-Duration Insurance Contract, Accident Year 2021 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,544 2,625 2,820 2,936            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 53                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,438 2,319 2,098 1,084            
Cumulative Number of Reported Claims 865,000                  
Short-Duration Insurance Contract, Accident Year 2021 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,971 2,958 2,871 3,019            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 147                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,695 2,577 2,364 1,581            
Cumulative Number of Reported Claims 131,000                  
Short-Duration Insurance Contract, Accident Year 2021 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,653 1,649 1,625 1,579            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 791                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 590 422 262 108            
Cumulative Number of Reported Claims 37,000                  
Short-Duration Insurance Contract, Accident Year 2021 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,185 2,208 2,321 2,407            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 2                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,005 1,922 1,654 920            
Cumulative Number of Reported Claims 543,000                  
Short-Duration Insurance Contract, Accident Year 2021 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 274 286 281 278            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 75                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 147 119 87 35            
Short-Duration Insurance Contract, Accident Year 2021 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 356 353 350 340            
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 21                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 320 307 277 $ 157            
Short-Duration Insurance Contract, Accident Year 2022 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,435 1,407 1,344              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 769                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 472 332 131              
Cumulative Number of Reported Claims 39,000                  
Short-Duration Insurance Contract, Accident Year 2022 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 4,656 4,561 4,556              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 2,689                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,278 648 144              
Cumulative Number of Reported Claims 26,000                  
Short-Duration Insurance Contract, Accident Year 2022 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 846 800 781              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 243                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 399 234 82              
Cumulative Number of Reported Claims 22,000                  
Short-Duration Insurance Contract, Accident Year 2022 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,806 2,941 3,042              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 155                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,491 2,186 1,048              
Cumulative Number of Reported Claims 904,000                  
Short-Duration Insurance Contract, Accident Year 2022 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,938 2,947 3,093              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 277                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,470 2,271 1,406              
Cumulative Number of Reported Claims 120,000                  
Short-Duration Insurance Contract, Accident Year 2022 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,932 1,761 1,714              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,121                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 510 277 80              
Cumulative Number of Reported Claims 38,000                  
Short-Duration Insurance Contract, Accident Year 2022 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,535 2,626 2,664              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 14                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,237 1,960 1,090              
Cumulative Number of Reported Claims 615,000                  
Short-Duration Insurance Contract, Accident Year 2022 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 292 296 294              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 116                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 122 86 39              
Short-Duration Insurance Contract, Accident Year 2022 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 290 311 345              
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 27                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 233 194 $ 73              
Short-Duration Insurance Contract, Accident Year 2023 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,413 1,371                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 798                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 358 129                
Cumulative Number of Reported Claims 38,000                  
Short-Duration Insurance Contract, Accident Year 2023 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 4,900 4,696                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 3,406                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 827 196                
Cumulative Number of Reported Claims 30,000                  
Short-Duration Insurance Contract, Accident Year 2023 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 882 843                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 432                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 248 81                
Cumulative Number of Reported Claims 21,000                  
Short-Duration Insurance Contract, Accident Year 2023 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,876 3,066                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 460                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,131 1,217                
Cumulative Number of Reported Claims 965,000                  
Short-Duration Insurance Contract, Accident Year 2023 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,065 3,396                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 537                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 2,241 1,484                
Cumulative Number of Reported Claims 114,000                  
Short-Duration Insurance Contract, Accident Year 2023 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 1,888 1,862                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,293                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 276 77                
Cumulative Number of Reported Claims 38,000                  
Short-Duration Insurance Contract, Accident Year 2023 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,757 2,847                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 342                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,861 1,039                
Cumulative Number of Reported Claims 615,000                  
Short-Duration Insurance Contract, Accident Year 2023 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 286 274                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 170                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 69 30                
Short-Duration Insurance Contract, Accident Year 2023 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 175 180                
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 45                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 92 $ 36                
Accident years prior to 2015 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 2,968                  
Short-Duration PPD (151)                  
Accident years prior to 2015 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 2,007                  
Short-Duration PPD 69                  
Accident years prior to 2015 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 210                  
Short-Duration PPD (4)                  
Accident years prior to 2015 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 5                  
Short-Duration PPD 18                  
Accident years prior to 2015 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 36                  
Short-Duration PPD (11)                  
Accident years prior to 2015 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 644                  
Short-Duration PPD 75                  
Accident years prior to 2015 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 129                  
Short-Duration PPD (11)                  
Accident years prior to 2015 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 267                  
Short-Duration PPD (7)                  
Accident years prior to 2015 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 14                  
Short-Duration PPD 0                  
Short-Duration Insurance Contract, Accident Year 2024 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 1,380                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 981                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 147                  
Cumulative Number of Reported Claims 33,000                  
Short-Duration Insurance Contract, Accident Year 2024 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 5,135                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 4,617                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 195                  
Cumulative Number of Reported Claims 28,000                  
Short-Duration Insurance Contract, Accident Year 2024 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 883                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 676                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 85                  
Cumulative Number of Reported Claims 13,000                  
Short-Duration Insurance Contract, Accident Year 2024 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,583                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,561                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,367                  
Cumulative Number of Reported Claims 853,000                  
Short-Duration Insurance Contract, Accident Year 2024 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,657                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,826                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,449                  
Cumulative Number of Reported Claims 88,000                  
Short-Duration Insurance Contract, Accident Year 2024 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 2,002                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 1,650                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 131                  
Cumulative Number of Reported Claims 31,000                  
Short-Duration Insurance Contract, Accident Year 2024 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 3,141                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 847                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net $ 1,141                  
Cumulative Number of Reported Claims 607,000                  
Short-Duration Insurance Contract, Accident Year 2024 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net $ 337                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 252                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 30                  
Short-Duration Insurance Contract, Accident Year 2024 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Incurred Claims and Allocated Claim Adjustment Expense, Net 391                  
Short-duration Insurance Contracts, Incurred but Not Reported (IBNR) Claims Liability, Net 193                  
Short-duration Insurance Contracts, Cumulative Paid Claims and Allocated Claim Adjustment Expense, Net 107                  
Accident years 2015 - 2024 | North America Commercial P&C Insurance - Workers' Compensation [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 7,227                  
Short-Duration PPD (222)                  
Accident years 2015 - 2024 | North America Commercial P&C Insurance - Liability [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 20,394                  
Short-Duration PPD 346                  
Accident years 2015 - 2024 | North America Commercial P&C Insurance - Other Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 2,554                  
Short-Duration PPD 103                  
Accident years 2015 - 2024 | North America Commercial P&C Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 3,567                  
Short-Duration PPD (452)                  
Accident years 2015 - 2024 | North America Personal P&C Insurance [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 4,146                  
Short-Duration PPD (290)                  
Accident years 2015 - 2024 | Overseas General Insurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 7,995                  
Short-Duration PPD (102)                  
Accident years 2015 - 2024 | Overseas General Insurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 3,778                  
Short-Duration PPD (250)                  
Accident years 2015 - 2024 | Global Reinsurance - Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 1,061                  
Short-Duration PPD 8                  
Accident years 2015 - 2024 | Global Reinsurance - Non-Casualty [Member]                    
Claims Development [Line Items]                    
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 526                  
Short-Duration PPD $ (28)                  
v3.25.0.1
Unpaid losses and loss expenses Unpaid losses and loss expenses (Supplementary PPD) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
North America Commercial P&C Insurance - Workers' Compensation [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD $ (373)
North America Commercial P&C Insurance - Workers' Compensation [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD (151)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 2,968
North America Commercial P&C Insurance - Workers' Compensation [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD (222)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 7,227
North America Commercial P&C Insurance - Liability [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD 415
North America Commercial P&C Insurance - Liability [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD 69
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 2,007
North America Commercial P&C Insurance - Liability [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD 346
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 20,394
North America Commercial P&C Insurance - Other Casualty [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD 99
North America Commercial P&C Insurance - Other Casualty [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD (4)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 210
North America Commercial P&C Insurance - Other Casualty [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD 103
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 2,554
North America Commercial P&C Insurance - Non-Casualty [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD (434)
North America Commercial P&C Insurance - Non-Casualty [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD 18
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 5
North America Commercial P&C Insurance - Non-Casualty [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD (452)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 3,567
North America Personal P&C Insurance [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD (301)
North America Personal P&C Insurance [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD (11)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 36
North America Personal P&C Insurance [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD (290)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 4,146
Overseas General Insurance - Casualty [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD (27)
Overseas General Insurance - Casualty [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD 75
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 644
Overseas General Insurance - Casualty [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD (102)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 7,995
Overseas General Insurance - Non-Casualty [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD (261)
Overseas General Insurance - Non-Casualty [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD (11)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 129
Overseas General Insurance - Non-Casualty [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD (250)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 3,778
Global Reinsurance - Casualty [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD 1
Global Reinsurance - Casualty [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD (7)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 267
Global Reinsurance - Casualty [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD 8
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 1,061
Global Reinsurance - Non-Casualty [Member]  
Supplementary PPD [Line Items]  
Short-Duration PPD (28)
Global Reinsurance - Non-Casualty [Member] | Accident years prior to 2015  
Supplementary PPD [Line Items]  
Short-Duration PPD 0
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented 14
Global Reinsurance - Non-Casualty [Member] | Accident years 2015 - 2024  
Supplementary PPD [Line Items]  
Short-Duration PPD (28)
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented $ 526
v3.25.0.1
Unpaid losses and loss expenses Unpaid losses and loss expenses (Average Annual Payout) (Details)
Dec. 31, 2024
North America Commercial P&C Insurance - Workers' Compensation [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 10.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 16.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 10.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 5.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 3.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 2.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 2.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 1.00%
North America Commercial P&C Insurance - Liability [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 12.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 15.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 16.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 12.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 9.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 5.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 3.00%
North America Commercial P&C Insurance - Other Casualty [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 10.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 17.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 18.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 17.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 15.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 8.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 6.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 3.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 0.00%
North America Commercial P&C Insurance - Non-Casualty [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 44.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 37.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 9.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 0.00%
North America Personal P&C Insurance [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 53.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 25.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 3.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 2.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 0.00%
Overseas General Insurance - Casualty [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 13.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 13.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 12.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 9.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 9.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 3.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 2.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 3.00%
Overseas General Insurance - Non-Casualty [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 44.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 33.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 10.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 0.00%
Global Reinsurance - Casualty [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 17.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 20.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 11.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 9.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 8.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 7.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 3.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 2.00%
Global Reinsurance - Non-Casualty [Member]  
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]  
Short-duration Insurance Contracts, Historical Claims Duration, Year One 32.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Two 38.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Three 13.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Four 4.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Five 3.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Six 2.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Seven 1.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Eight 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Nine 0.00%
Short-duration Insurance Contracts, Historical Claims Duration, Year Ten 0.00%
v3.25.0.1
Unpaid losses and loss expenses Unpaid losses and loss expenses (Supplementary PPD Reconciliation) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense [1] $ (991)    
Prior Period Development, net Adjustments 119 $ 83 $ 232
Net Prior Period Development (856) (773) (876)
Prior Period Development, net adjustments except related to A&H 135    
Alternative Risk Solutions [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 39    
North America Workers' Compensation [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 89    
Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development 288 148 58
Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (1,144) (921) (934)
Segments included in loss triangles [Domain]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (1,117)    
Other PPD adjustments [2] (208)    
Prior Period Development, net Adjustments 69    
Net Prior Period Development (1,048)    
Segments included in loss triangles [Domain] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (887)    
Segments included in loss triangles [Domain] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (22)    
North America Commercial P&C Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (493)    
Other PPD adjustments [2],[3] (200)    
Prior Period Development, net Adjustments [4] 65    
Net Prior Period Development (428) (494) (562)
North America Commercial P&C Insurance [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (225)    
North America Commercial P&C Insurance [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (68)    
North America Commercial P&C Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (53)    
Other PPD adjustments [2] (194)    
Prior Period Development, net Adjustments 71    
Net Prior Period Development 18 (86) (229)
North America Commercial P&C Insurance [Member] | Long Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 227    
North America Commercial P&C Insurance [Member] | Long Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (86)    
North America Commercial P&C Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (440)    
Other PPD adjustments [2] (6)    
Prior Period Development, net Adjustments (6)    
Net Prior Period Development (446) (408) (333)
North America Commercial P&C Insurance [Member] | Short Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (452)    
North America Commercial P&C Insurance [Member] | Short Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 18    
North America Personal P&C Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (305) (134) (186)
North America Personal P&C Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development 0 0 0
North America Personal P&C Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (305)    
Other PPD adjustments [2] (4)    
Prior Period Development, net Adjustments 0    
Net Prior Period Development (305) (134) (186)
North America Personal P&C Insurance [Member] | Short Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (290)    
North America Personal P&C Insurance [Member] | Short Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (11)    
Overseas General Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (290)    
Other PPD adjustments [2] (2)    
Prior Period Development, net Adjustments 0    
Net Prior Period Development (290) (376) (448)
Overseas General Insurance [Member] | International A&H [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 16    
Overseas General Insurance [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (352)    
Overseas General Insurance [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 64    
Overseas General Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (26)    
Other PPD adjustments [2] 1    
Prior Period Development, net Adjustments 0    
Net Prior Period Development (26) (50) (65)
Overseas General Insurance [Member] | Long Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (102)    
Overseas General Insurance [Member] | Long Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 75    
Overseas General Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (264)    
Other PPD adjustments [2] (3)    
Prior Period Development, net Adjustments 0    
Net Prior Period Development (264) (326) (383)
Overseas General Insurance [Member] | Short Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (250)    
Overseas General Insurance [Member] | Short Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (11)    
Global Reinsurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (29)    
Other PPD adjustments [2] (2)    
Prior Period Development, net Adjustments 4    
Net Prior Period Development (25) (28) 22
Global Reinsurance [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (20)    
Global Reinsurance [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (7)    
Global Reinsurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (1)    
Other PPD adjustments [2] (2)    
Prior Period Development, net Adjustments 1    
Net Prior Period Development 0 7 (7)
Global Reinsurance [Member] | Long Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 8    
Global Reinsurance [Member] | Long Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (7)    
Global Reinsurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (28)    
Other PPD adjustments [2] 0    
Prior Period Development, net Adjustments 3    
Net Prior Period Development (25) (35) 29
Global Reinsurance [Member] | Short Tail [Member] | 2015 - 2023 accident years      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (28)    
Global Reinsurance [Member] | Short Tail [Member] | Accident years prior to 2015      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 0    
North America Agricultural Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (104) (18) (61)
North America Agricultural Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development 0 0 0
North America Agricultural Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense (170)    
Prior Period Development, net Adjustments 66    
Net Prior Period Development (104) (18) (61)
Corporate Segment [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development 296 277 359
Corporate Segment [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Prior Year Claims and Claims Adjustment Expense 296    
Prior Period Development, net Adjustments 0    
Net Prior Period Development 296 277 359
Corporate Segment [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 0 $ 0 $ 0
[1] Includes favorable development of $16 million related to long duration International A&H business.
[2] Other includes the impact of foreign exchange.
[3] Includes favorable development of $39 million related to our Alternative Risk Solutions business (U.S. and Bermuda) and an adjustment to exclude $89 million in unfavorable development in the workers' compensation line, associated with an increase in exposure for which additional premiums were collected; the remaining difference relates to a number of other items, none of which are individually material.
[4] Includes premium returns associated with our Alternative Risk Solutions business, which is excluded from the triangles.
v3.25.0.1
Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (856) $ (773) $ (876)
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 1.40% 1.30% 1.60%
Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 288 $ 148 $ 58
Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (1,144) (921) (934)
North America Commercial P&C Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (428) $ (494) $ (562)
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.70% 0.80% 1.00%
North America Commercial P&C Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 18 $ (86) $ (229)
North America Commercial P&C Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (446) (408) (333)
North America Personal P&C Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (305) $ (134) $ (186)
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.50% 0.20% 0.30%
North America Personal P&C Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 0 $ 0 $ 0
North America Personal P&C Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (305) (134) (186)
North America Agricultural Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (104) $ (18) $ (61)
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.20% 0.00% 0.10%
North America Agricultural Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 0 $ 0 $ 0
North America Agricultural Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (104) (18) (61)
Overseas General Insurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (290) $ (376) $ (448)
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.50% 0.60% 0.80%
Overseas General Insurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (26) $ (50) $ (65)
Overseas General Insurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (264) (326) (383)
Global Reinsurance [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ (25) $ (28) $ 22
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.00% 0.00% 0.00%
Global Reinsurance [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 0 $ 7 $ (7)
Global Reinsurance [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development (25) (35) 29
Corporate Segment [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 296 $ 277 $ 359
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.50% 0.50% 0.60%
Corporate Segment [Member] | Long Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 296 $ 277 $ 359
Corporate Segment [Member] | Short Tail [Member]      
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]      
Net Prior Period Development $ 0 $ 0 $ 0
[1] Calculated based on the beginning of period consolidated net unpaid losses and loss expenses.
v3.25.0.1
Unpaid losses and loss expenses (A&E Loss Roll-forward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (gross) at beginning of year $ 1,415 $ 1,510 $ 1,628
Balance (net) at beginning of year 945 1,013 1,102
Incurred activity, gross 250 268 212
Incurred activity, net [1] 173 183 132
Paid activity, gross (322) (363) (330)
Paid activity, net (233) (251) (221)
Balance (gross) at end of year 1,343 1,415 1,510
Balance (net) at end of year 885 945 1,013
Brandywine Run-off [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Contributions to the dividend retention fund 93 75  
Asbestos Issue [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (gross) at beginning of year 1,020 1,098 1,226
Balance (net) at beginning of year 654 703 800
Incurred activity, gross 176 180 87
Incurred activity, net 126 120 55
Paid activity, gross (232) (258) (215)
Paid activity, net (172) (169) (152)
Balance (gross) at end of year 964 1,020 1,098
Balance (net) at end of year 608 654 703
Environmental Issue [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (gross) at beginning of year 395 412 402
Balance (net) at beginning of year 291 310 302
Incurred activity, gross 74 88 125
Incurred activity, net 47 63 77
Paid activity, gross (90) (105) (115)
Paid activity, net (61) (82) (69)
Balance (gross) at end of year 379 395 412
Balance (net) at end of year 277 291 $ 310
Brandywine [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (net) at beginning of year 570    
Balance (net) at end of year 502 570  
Westchester Specialty [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (net) at beginning of year 89    
Balance (net) at end of year 86 89  
Other Segments [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (net) at beginning of year 45    
Balance (net) at end of year 39 45  
The Chubb Corporation [Member]      
Liability For Asbestos And Environmental Claims Net Roll Forward      
Balance (net) at beginning of year 241    
Balance (net) at end of year $ 258 $ 241  
[1] Excludes unallocated loss expenses and the net activity reflects third-party reinsurance other than the aggregate excess of loss reinsurance provided by National Indemnity Company (NICO) to Westchester Specialty (see Westchester Specialty section below)
v3.25.0.1
Unpaid losses and loss expenses (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jul. 01, 2023
Dec. 31, 2021
Dec. 31, 2004
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ (856) $ (773) $ (876)      
Prior Period Development, net Adjustments $ 119 $ 83 $ 232      
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 1.40% 1.30% 1.60%      
Incurred activity $ 26,022 $ 24,100 $ 22,572      
Liability for Claims and Claims Adjustment Expense 84,004 80,122 75,747   $ 72,330  
Net losses and loss expenses paid in Prior Year 12,822 12,763 12,206      
Liability for Unpaid Claims and Claims Adjustment Expense, Net 66,270 62,238 58,661   $ 56,198  
Prior Year Claims and Claims Adjustment Expense [2] (991)          
Prior Year Claims and Claims Adjustment Expense, net of PPD related to A&H (975) (856) [3] (1,108) [3]      
Huatai Group [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Liability for Claims and Claims Adjustment Expense       $ 831    
Brandywine Run-off [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Incurred activity 764          
Reinsurance coverage to Century provided by ACE INA under XOL 800          
Statutory capital and surplus 25          
Dividend retention fund established by INA Financial Corporation 50          
Required minimum balance under the dividend retention fund 50          
Contributions to the dividend retention fund 93 75        
Minimum contribution from the dividend retention fund to Century not required for XOL agreement 200          
Dividend Retention Fund Contribution to XOL 93 75        
Aggregate reinsurance balances ceded by active ACE companies to Century 1,900 1,800        
Liability for Claims and Claims Adjustment Expense 1,600 1,700        
Surplus note           $ 100
Century X O L Reinsurance Coverage, Statutory-Basis Remaining Limit $ 36          
Westchester and Brandywine Run-off [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
NICO pro-rata share of reinsurance protection (percent) 75.00%          
NICO retention for losses and loss expenses incurred on or before 12/31/1996 $ 721          
NICO reinsurance protection on losses and loss expenses incurred on or before 12/31/1996, net of retenion 1,000          
NICO reinsurance protection on losses and loss expenses 332          
Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development 288 148 58      
Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (1,144) (921) (934)      
North America Commercial P&C Insurance - Workers' Compensation [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Prior Year Claims and Claims Adjustment Expense 89          
Boy Scouts of America Agreement in Principle [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Liability for Claims and Claims Adjustment Expense   500 800      
Net losses and loss expenses paid in Prior Year   300        
North America Commercial P&C Insurance [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (428) $ (494) $ (562)      
Prior Period Development, net Adjustments [4] $ 65          
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.70% 0.80% 1.00%      
Prior Year Claims and Claims Adjustment Expense $ (493)          
North America Commercial P&C Insurance [Member] | Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development 18 $ (86) $ (229)      
Prior Period Development, net Adjustments 71          
Prior Year Claims and Claims Adjustment Expense (53)          
North America Commercial P&C Insurance [Member] | Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (446) (408) (333)      
Prior Period Development, net Adjustments (6)          
Prior Year Claims and Claims Adjustment Expense (440)          
North America Personal P&C Insurance [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ (305) $ (134) $ (186)      
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.50% 0.20% 0.30%      
North America Personal P&C Insurance [Member] | Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ 0 $ 0 $ 0      
North America Personal P&C Insurance [Member] | Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (305) (134) (186)      
Prior Period Development, net Adjustments 0          
Prior Year Claims and Claims Adjustment Expense (305)          
North America Agricultural Insurance [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ (104) $ (18) $ (61)      
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.20% 0.00% 0.10%      
North America Agricultural Insurance [Member] | Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ 0 $ 0 $ 0      
North America Agricultural Insurance [Member] | Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (104) (18) (61)      
Prior Period Development, net Adjustments 66          
Prior Year Claims and Claims Adjustment Expense (170)          
Overseas General Insurance [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (290) $ (376) $ (448)      
Prior Period Development, net Adjustments $ 0          
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.50% 0.60% 0.80%      
Prior Year Claims and Claims Adjustment Expense $ (290)          
Overseas General Insurance [Member] | Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (26) $ (50) $ (65)      
Prior Period Development, net Adjustments 0          
Prior Year Claims and Claims Adjustment Expense (26)          
Overseas General Insurance [Member] | Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (264) (326) (383)      
Prior Period Development, net Adjustments 0          
Prior Year Claims and Claims Adjustment Expense $ (264)          
Overseas General Insurance - Casualty [Member] | Europe [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Loss by Geographic Percentage 45.00%          
Global Reinsurance Non-Casualty [Member] | Accident years 2013 and after            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Loss by Geographic Percentage 89.00%          
Global Reinsurance Non-Casualty [Member] | Accident years 2018 to 2022            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Loss by Geographic Percentage 94.00%          
Global Reinsurance Non-Casualty [Member] | Accident years 2013-2017            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Loss by Geographic Percentage 76.00%          
Global Reinsurance [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ (25) $ (28) $ 22      
Prior Period Development, net Adjustments $ 4          
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.00% 0.00% 0.00%      
Prior Year Claims and Claims Adjustment Expense $ (29)          
Global Reinsurance [Member] | Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development 0 $ 7 $ (7)      
Prior Period Development, net Adjustments 1          
Prior Year Claims and Claims Adjustment Expense (1)          
Global Reinsurance [Member] | Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development (25) (35) 29      
Prior Period Development, net Adjustments 3          
Prior Year Claims and Claims Adjustment Expense (28)          
Corporate Segment [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ 296 $ 277 $ 359      
Prior Period Development Percentage Opening Net Unpaid Reserves [1] 0.50% 0.50% 0.60%      
Corporate Segment [Member] | Long Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ 296 $ 277 $ 359      
Prior Period Development, net Adjustments 0          
Prior Year Claims and Claims Adjustment Expense 296          
Corporate Segment [Member] | Short Tail [Member]            
Liability for Claims and Claims Adjustment Expense [Line Items]            
Net Prior Period Development $ 0 $ 0 $ 0      
[1] Calculated based on the beginning of period consolidated net unpaid losses and loss expenses.
[2] Includes favorable development of $16 million related to long duration International A&H business.
[3] Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $119 million, $83 million, and $232 million for 2024, 2023, and 2022, respectively.
[4] Includes premium returns associated with our Alternative Risk Solutions business, which is excluded from the triangles.
v3.25.0.1
Future policy benefits (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Jul. 01, 2023
Liability for Future Policy Benefit, Activity [Line Items]      
Deferred profit liability $ 1,724 $ 1,253  
Net liability for future policy benefits, before reinsurance recoverable 16,121 13,888  
Reinsurance recoverable on policy benefits 289 280  
Huatai Group [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Net liability for future policy benefits, before reinsurance recoverable     $ 2,351
Reinsurance recoverable on policy benefits     $ 27
Life Insurance [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Balance – beginning of period 16,036 14,867  
Beginning balance at original discount rate 16,693 15,529  
Effect of changes in cash flow assumptions 450 (756)  
Effect of actual variances from expected experience (130) (5)  
Adjusted beginning of period balance 17,013 14,768  
Consolidation of Huatai Group   1,850  
Issuances 3,680 2,170  
Interest accrual 731 691  
Net premiums collected (1) [1] (2,851) (2,320)  
Other (including foreign exchange) (828) (466)  
Ending balance at original discount rate 17,745 16,693  
Effect of changes in discount rate assumptions (66) (657)  
Balance – end of period 17,679 16,036  
Balance – beginning of period 27,462 23,324  
Beginning balance at original discount rate 28,303 24,456  
Effect of changes in cash flow assumptions 432 (795)  
Effect of actual variances from expected experience (110) 15  
Adjusted beginning of period balance 28,625 23,676  
Consolidation of Huatai Group   4,072  
Issuances 3,680 2,170  
Interest accrual 1,092 1,023  
Benefits payments (2,176) (2,135)  
Other (including foreign exchange) (1,079) (503)  
Ending balance at original discount rate 30,142 28,303  
Effect of changes in discount rate assumptions 493 (841)  
Balance – end of period 30,635 27,462  
Net liability for future policy benefits 12,956 11,426  
Deferred profit liability 1,724 1,253  
Net liability for future policy benefits, before reinsurance recoverable 14,680 12,679  
Reinsurance recoverable on policy benefits 269 233  
Net liability for future policy benefits, after reinsurance recoverable $ 14,411 $ 12,446  
Weighted-average duration (years) 21 years 3 months 18 days 19 years 4 months 24 days  
Other Segments [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Net liability for future policy benefits [2] $ 1,441 $ 1,209  
Term Life Insurance | Life Insurance [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Balance – beginning of period 1,590 1,806  
Beginning balance at original discount rate 1,992 1,867  
Effect of changes in cash flow assumptions (141) 22  
Effect of actual variances from expected experience 11 (9)  
Adjusted beginning of period balance 1,862 1,880  
Consolidation of Huatai Group   3  
Issuances 221 190  
Interest accrual 58 71  
Net premiums collected (1) [1] (242) (255)  
Other (including foreign exchange) (80) 103  
Ending balance at original discount rate 1,819 1,992  
Effect of changes in discount rate assumptions (296) (402)  
Balance – end of period 1,523 1,590  
Balance – beginning of period 2,254 2,321  
Beginning balance at original discount rate 2,749 2,447  
Effect of changes in cash flow assumptions (141) 15  
Effect of actual variances from expected experience 20 (4)  
Adjusted beginning of period balance 2,628 2,458  
Consolidation of Huatai Group   17  
Issuances 221 190  
Interest accrual 76 90  
Benefits payments (224) (238)  
Other (including foreign exchange) (54) 232  
Ending balance at original discount rate 2,647 2,749  
Effect of changes in discount rate assumptions (409) (495)  
Balance – end of period 2,238 2,254  
Net liability for future policy benefits 715 664  
Deferred profit liability 279 267  
Net liability for future policy benefits, before reinsurance recoverable 994 931  
Reinsurance recoverable on policy benefits 108 82  
Net liability for future policy benefits, after reinsurance recoverable $ 886 $ 849  
Weighted-average duration (years) 10 years 4 months 24 days 10 years 6 months  
Whole Life Insurance | Life Insurance [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Balance – beginning of period $ 3,950 $ 2,308  
Beginning balance at original discount rate 3,945 2,361  
Effect of changes in cash flow assumptions 178 40  
Effect of actual variances from expected experience (2) 88  
Adjusted beginning of period balance 4,121 2,489  
Consolidation of Huatai Group   1,690  
Issuances 1,211 318  
Interest accrual 128 87  
Net premiums collected (1) [1] (1,086) (585)  
Other (including foreign exchange) (71) (54)  
Ending balance at original discount rate 4,303 3,945  
Effect of changes in discount rate assumptions 102 5  
Balance – end of period 4,405 3,950  
Balance – beginning of period 10,063 5,696  
Beginning balance at original discount rate 9,991 5,874  
Effect of changes in cash flow assumptions 205 44  
Effect of actual variances from expected experience 11 98  
Adjusted beginning of period balance 10,207 6,016  
Consolidation of Huatai Group   3,659  
Issuances 1,211 318  
Interest accrual 331 252  
Benefits payments (340) (333)  
Other (including foreign exchange) (167) 79  
Ending balance at original discount rate 11,242 9,991  
Effect of changes in discount rate assumptions 815 72  
Balance – end of period 12,057 10,063  
Net liability for future policy benefits 7,652 6,113  
Deferred profit liability 1,210 804  
Net liability for future policy benefits, before reinsurance recoverable 8,862 6,917  
Reinsurance recoverable on policy benefits 47 45  
Net liability for future policy benefits, after reinsurance recoverable $ 8,815 $ 6,872  
Weighted-average duration (years) 27 years 9 months 18 days 25 years 9 months 18 days  
Accident and Health [Member] | Life Insurance [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Balance – beginning of period $ 10,432 $ 10,711  
Beginning balance at original discount rate 10,692 11,258  
Effect of changes in cash flow assumptions 417 (820)  
Effect of actual variances from expected experience (139) (84)  
Adjusted beginning of period balance 10,970 10,354  
Consolidation of Huatai Group   145  
Issuances 2,162 1,653  
Interest accrual 540 531  
Net premiums collected (1) [1] (1,483) (1,457)  
Other (including foreign exchange) (690) (534)  
Ending balance at original discount rate 11,499 10,692  
Effect of changes in discount rate assumptions 127 (260)  
Balance – end of period 11,626 10,432  
Balance – beginning of period 14,650 15,038  
Beginning balance at original discount rate 15,071 15,855  
Effect of changes in cash flow assumptions 373 (858)  
Effect of actual variances from expected experience (141) (78)  
Adjusted beginning of period balance 15,303 14,919  
Consolidation of Huatai Group   163  
Issuances 2,162 1,653  
Interest accrual 668 672  
Benefits payments (1,594) (1,551)  
Other (including foreign exchange) (887) (785)  
Ending balance at original discount rate 15,652 15,071  
Effect of changes in discount rate assumptions 41 (421)  
Balance – end of period 15,693 14,650  
Net liability for future policy benefits 4,067 4,218  
Deferred profit liability 196 165  
Net liability for future policy benefits, before reinsurance recoverable 4,263 4,383  
Reinsurance recoverable on policy benefits 113 106  
Net liability for future policy benefits, after reinsurance recoverable $ 4,150 $ 4,277  
Weighted-average duration (years) 9 years 9 months 18 days 10 years 4 months 24 days  
Insurance, Other [Member] | Life Insurance [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Balance – beginning of period $ 64 $ 42  
Beginning balance at original discount rate 64 43  
Effect of changes in cash flow assumptions (4) 2  
Effect of actual variances from expected experience 0 0  
Adjusted beginning of period balance 60 45  
Consolidation of Huatai Group   12  
Issuances 86 9  
Interest accrual 5 2  
Net premiums collected (1) [1] (40) (23)  
Other (including foreign exchange) 13 19  
Ending balance at original discount rate 124 64  
Effect of changes in discount rate assumptions 1 0  
Balance – end of period 125 64  
Balance – beginning of period 495 269  
Beginning balance at original discount rate 492 280  
Effect of changes in cash flow assumptions (5) 4  
Effect of actual variances from expected experience 0 (1)  
Adjusted beginning of period balance 487 283  
Consolidation of Huatai Group   233  
Issuances 86 9  
Interest accrual 17 9  
Benefits payments (18) (13)  
Other (including foreign exchange) 29 (29)  
Ending balance at original discount rate 601 492  
Effect of changes in discount rate assumptions 46 3  
Balance – end of period 647 495  
Net liability for future policy benefits 522 431  
Deferred profit liability 39 17  
Net liability for future policy benefits, before reinsurance recoverable 561 448  
Reinsurance recoverable on policy benefits 1 0  
Net liability for future policy benefits, after reinsurance recoverable $ 560 $ 448  
Weighted-average duration (years) 18 years 7 months 6 days 15 years  
[1] Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.
[2] Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.
v3.25.0.1
Future policy benefits (Undiscounted & discounted FPB) (Details) - Life Insurance [Member] - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]      
Discounted expected future benefit payments $ 30,635 $ 27,462 $ 23,324
Term Life Insurance      
Liability for Future Policy Benefit, Activity [Line Items]      
Undiscounted expected future benefit payments 4,141 4,073  
Undiscounted expected future gross premiums 6,508 7,075  
Discounted expected future benefit payments 2,238 2,254 2,321
Discounted expected future gross premiums 4,400 4,703  
Whole Life Insurance      
Liability for Future Policy Benefit, Activity [Line Items]      
Undiscounted expected future benefit payments 28,263 23,990  
Undiscounted expected future gross premiums 10,346 9,469  
Discounted expected future benefit payments 12,057 10,063 5,696
Discounted expected future gross premiums 8,452 7,658  
Accident and Health [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Undiscounted expected future benefit payments 26,584 25,118  
Undiscounted expected future gross premiums 38,826 36,869  
Discounted expected future benefit payments 15,693 14,650 15,038
Discounted expected future gross premiums 23,133 22,150  
Insurance, Other [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Undiscounted expected future benefit payments 1,126 862  
Undiscounted expected future gross premiums 242 115  
Discounted expected future benefit payments 647 495 $ 269
Discounted expected future gross premiums $ 216 $ 103  
v3.25.0.1
Future policy benefits (Premiums & interest) (Details) - Life Insurance [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]      
Gross Premiums or Assessments $ 5,729 $ 4,846 $ 3,015
Interest Accretion 361 332 228
Term Life Insurance      
Liability for Future Policy Benefit, Activity [Line Items]      
Gross Premiums or Assessments 684 641 472
Interest Accretion 18 19 12
Whole Life Insurance      
Liability for Future Policy Benefit, Activity [Line Items]      
Gross Premiums or Assessments 1,962 1,259 651
Interest Accretion 203 165 121
Accident and Health [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Gross Premiums or Assessments 3,016 2,918 1,875
Interest Accretion 128 141 92
Insurance, Other [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Gross Premiums or Assessments 67 28 17
Interest Accretion $ 12 $ 7 $ 3
v3.25.0.1
Future policy benefits (Weighted average interest rates) (Details) - Life Insurance [Member]
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Term Life Insurance      
Liability for Future Policy Benefit, Activity [Line Items]      
Interest Accretion Rate 3.00% 2.80% 2.50%
Current Discount Rate 5.40% 5.20% 5.60%
Whole Life Insurance      
Liability for Future Policy Benefit, Activity [Line Items]      
Interest Accretion Rate 3.30% 3.20% 3.90%
Current Discount Rate 4.10% 4.60% 5.40%
Accident and Health [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Interest Accretion Rate 3.90% 3.70% 3.60%
Current Discount Rate 5.80% 6.20% 6.30%
Insurance, Other [Member]      
Liability for Future Policy Benefit, Activity [Line Items]      
Interest Accretion Rate 2.80% 2.60% 3.70%
Current Discount Rate 3.80% 4.10% 5.60%
v3.25.0.1
Policyholders' account balances (Policyholder Account Balance Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Jul. 01, 2023
Dec. 31, 2022
Policyholder Account Balance [Line Items]        
Balance – beginning of period $ 6,789 $ 2,573    
Policyholder Account Balance, Acquisition   4,014    
Policyholder Account Balance, Premium Received 1,028 632    
Policyholder Account Balance, Policy Charge [1] (147) (142)    
Policyholder Account Balance, Surrender and Withdrawal (439) (326)    
Policyholder Account Balance, Benefit Payment [2] (277) (132)    
Policyholder Account Balance, Interest Expense 159 113    
Policyholder Account Balance, Increase (Decrease) from Other Change (365) (57)    
Balance – end of period 6,748 6,789    
Unearned revenue liability 711 673   $ 567
Policyholder Account Balance, Other Reconciling Items [3] 557      
Policyholders' account balances 8,016 7,462    
Huatai Group [Member]        
Policyholder Account Balance [Line Items]        
Policyholders' account balances     $ 4,014  
Universal Life        
Policyholder Account Balance [Line Items]        
Balance – beginning of period 1,876 1,199    
Policyholder Account Balance, Acquisition   602    
Policyholder Account Balance, Premium Received 276 268    
Policyholder Account Balance, Policy Charge [1] (136) (132)    
Policyholder Account Balance, Surrender and Withdrawal (122) (115)    
Policyholder Account Balance, Benefit Payment [2] (60) (12)    
Policyholder Account Balance, Interest Expense 50 43    
Policyholder Account Balance, Increase (Decrease) from Other Change (75) (23)    
Balance – end of period 1,809 1,876    
Policyholders' account balances $ 1,809 $ 1,876    
Policyholder Account Balance, Weighted Average Crediting Rate [4] 2.80% 3.00%    
Policyholder Account Balance, Net Amount at Risk [5] $ 12,369 $ 11,828    
Policyholder Account Balance, Cash Surrender Value 1,649 1,628    
Annuities [Member]        
Policyholder Account Balance [Line Items]        
Balance – beginning of period [6] 2,411 0    
Policyholder Account Balance, Acquisition [6]   2,325    
Policyholder Account Balance, Premium Received [6] 339 133    
Policyholder Account Balance, Policy Charge [1],[6] 0 0    
Policyholder Account Balance, Surrender and Withdrawal [6] (39) (19)    
Policyholder Account Balance, Benefit Payment [2],[6] (139) (58)    
Policyholder Account Balance, Interest Expense [6] 41 31    
Policyholder Account Balance, Increase (Decrease) from Other Change [6] (28) (1)    
Balance – end of period [6] 2,585 2,411    
Policyholders' account balances $ 2,585 $ 2,411    
Policyholder Account Balance, Weighted Average Crediting Rate [4] 1.70% 2.60%    
Policyholder Account Balance, Net Amount at Risk [5] $ 0 $ 0    
Policyholder Account Balance, Cash Surrender Value 1,678 1,526    
Insurance, Other [Member]        
Policyholder Account Balance [Line Items]        
Balance – beginning of period [7] 2,502 1,374    
Policyholder Account Balance, Acquisition [7]   1,087    
Policyholder Account Balance, Premium Received [7] 413 231    
Policyholder Account Balance, Policy Charge [1],[7] (11) (10)    
Policyholder Account Balance, Surrender and Withdrawal [7] (278) (192)    
Policyholder Account Balance, Benefit Payment [2],[7] (78) (62)    
Policyholder Account Balance, Interest Expense [7] 68 39    
Policyholder Account Balance, Increase (Decrease) from Other Change [7] (262) (35)    
Balance – end of period [7] 2,354 2,502    
Policyholders' account balances $ 2,354 $ 2,502    
Policyholder Account Balance, Weighted Average Crediting Rate [4] 3.00% 1.90%    
Policyholder Account Balance, Net Amount at Risk [5] $ 425 $ 559    
Policyholder Account Balance, Cash Surrender Value $ 2,060 $ 2,192    
[1] Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
[2] Includes benefit payments upon maturity as well as death benefits.
[3] Primarily comprises unpaid dividends on certain participating policies.
[4] Calculated using actual interest credited for the twelve months ended December 31, 2024 and 2023, respectively.
[5] For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.
[6] Relates to Huatai Life.
[7] Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
v3.25.0.1
Policyholders' account balances (Guaranteed Minimum Crediting Rates) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance $ 8,016 $ 7,462
Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,809 1,876
Universal Life | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 685 579
Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 615 319
Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 395 923
Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 114 55
Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 2,585 2,411
Annuities [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 911 832
Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,628 1,579
Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 46 0
Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 2,354 2,502
Insurance, Other [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,685 1,160
Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 56 540
Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 182 256
Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 431 546
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 587 540
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Universal Life | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 427 475
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 46 29
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 114 36
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,754 2,302
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Annuities [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 80 723
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,628 1,579
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 46 0
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 986 1,556
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Insurance, Other [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 367 782
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 6 0
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 182 228
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 431 546
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,209 1,314
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 245 82
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 615 319
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 349 894
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 19
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 831 109
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 831 109
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,368 941
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 1,318 373
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 50 540
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 28
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 13 22
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Universal Life | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 13 22
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Universal Life | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Annuities [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Annuities [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 5
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Insurance, Other [Member] | Policyholder Account Balance, at Guaranteed Minimum Crediting Rate    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 5
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance 0 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Insurance, Other [Member] | Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance $ 0 $ 0
Minimum | Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 2.01% 2.01%
Minimum | Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 2.01% 2.01%
Minimum | Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 2.01% 2.01%
Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 4.00% 4.00%
Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 4.00% 4.00%
Minimum | Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 4.00% 4.00%
Maximum | Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 2.00% 2.00%
Maximum | Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 2.00% 2.00%
Maximum | Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 2.00% 2.00%
Maximum | Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Universal Life    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 4.00% 4.00%
Maximum | Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Annuities [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 4.00% 4.00%
Maximum | Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 | Insurance, Other [Member]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]    
Policyholder Account Balance, Guaranteed Minimum Crediting Rate 4.00% 4.00%
v3.25.0.1
Separate accounts (Fair value of assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Separate Account Investment [Line Items]    
Separate account assets $ 6,231 $ 5,573
Separate Account, Cash and Cash Equivalents    
Fair Value, Separate Account Investment [Line Items]    
Separate account assets 234 65
Mutual funds    
Fair Value, Separate Account Investment [Line Items]    
Separate account assets 5,931 5,417
Fixed maturities    
Fair Value, Separate Account Investment [Line Items]    
Separate account assets $ 66 $ 91
v3.25.0.1
Separate accounts (Separate account liabilities rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Separate Account, Liability [Line Items]    
Separate Account, Liability, Beginning Balance $ 5,573 $ 5,190
Separate Account, Liability, Premium and Deposit 1,629 995
Separate Account, Liability, Policy Charge (158) (138)
Separate Account, Liability, Surrender and Withdrawal (910) (601)
Separate Account, Liability, Benefit Payment (430) (381)
Separate Account, Liability, Increase (Decrease) from Invested Performance 630 611
Separate Account, Liability, Increase (Decrease) from Other Change (103) (103)
Separate Account, Liability, Ending Balance 6,231 5,573
Separate Account, Liability, Cash Surrender Value, Amount [1] $ 5,853 $ 5,398
[1] Cash surrender value represents the amount of the contract holder's account balances distributable at the balance sheet date less certain surrender charges
v3.25.0.1
Unearned revenue liability (URL Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Insurance [Abstract]    
Balance – beginning of period $ 673 $ 567
Deferred revenue 144 134
Amortization (73) (67)
Other (including foreign exchange) (33) 39
Balance – end of period $ 711 $ 673
v3.25.0.1
Market risk benefits (MRB Roll-Forward) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Minimum      
Market Risk Benefit [Line Items]      
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate   0.50% 0.50%
Annuitization rate   0.00% 0.00%
Maximum      
Market Risk Benefit [Line Items]      
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate   27.30% 30.00%
Annuitization rate   100.00% 100.00%
Weighted Average      
Market Risk Benefit [Line Items]      
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate [1]   3.40% 4.00%
Annuitization rate [1]   4.50% 4.50%
Long-Duration Insurance, Other | Variable Annuity [Member]      
Market Risk Benefit [Line Items]      
Balance - beginning of period   $ 771 $ 800
Balance, beginning of period, before effect of changes in the instrument-specific credit risk   749 776
Interest rate changes   (130) 26
Effect of changes in equity markets [2]   (125) (195)
Effect of changes in volatilities   1 20
Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected   55 18
Market Risk Benefit, Increase (Decrease) from Future Expected Policyholder Behavior Assumption $ 87 87 89
Effect of timing and all other   (45) 15
Balance, end of period, before effect of changes in the instrument-specific credit risk   592 749
Effect of changes in the instrument-specific credit risk   15 22
Balance - end of period   $ 607 $ 771
Average attained age of all policyholders under all benefits reinsured, years   74 years 74 years
Market Risk Benefit, Net Amount at Risk [3]   $ 1,520 $ 1,872
Market Risk Benefits Other Gains (Losses)   $ (297) $ (334)
[1] The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.
[2] Market movements are predominantly driven by changes in equities.
[3] The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.
v3.25.0.1
Market Risk Benefits (MRB Valuation) (Details)
Dec. 31, 2024
Dec. 31, 2023
Minimum    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate 0.50% 0.50%
Annuitization rate 0.00% 0.00%
Maximum    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate 27.30% 30.00%
Annuitization rate 100.00% 100.00%
Weighted Average    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate [1] 3.40% 4.00%
Annuitization rate [1] 4.50% 4.50%
[1] The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the MRB contract's fair value.
v3.25.0.1
Taxation (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Examination [Line Items]      
Income Taxes Receivable, Current $ 246 $ 266  
Taxes Payable, Current 376 330  
Deferred Tax Asset, Debt Securities, Trading, Unrealized Loss 787 662  
Valuation allowance 1,081 716  
Loss carry-forwards 146 149  
Unrecognized Tax Benefits 130 73 $ 67
Income Tax Credits and Adjustments 18 19  
Unrecognized tax benefits that would affect the effective tax rate 112 54  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense 6 7 $ 4
Liabilities recorded for tax-related interest and penalties 30 $ 25  
Investments      
Income Tax Examination [Line Items]      
Valuation allowance 633    
Domestic Tax Authority [Member]      
Income Tax Examination [Line Items]      
Net operating loss carry-forwards 500    
Loss carry-forwards $ 26    
SWITZERLAND      
Income Tax Examination [Line Items]      
Applicable income tax rates 19.70%    
Bermuda      
Income Tax Examination [Line Items]      
Applicable income tax rates 0.00%    
UNITED STATES      
Income Tax Examination [Line Items]      
Applicable income tax rates 21.00%    
UNITED KINGDOM      
Income Tax Examination [Line Items]      
Applicable income tax rates 25.00%    
v3.25.0.1
Taxation (Provision For Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Examination [Line Items]      
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $ 11,455 $ 9,526 $ 6,485
Current tax expense 1,729 1,595 1,081
Deferred tax expense 86 (1,084) 158
Provision for income taxes 1,815 511 1,239
Domestic Tax Authority [Member]      
Income Tax Examination [Line Items]      
Income (Loss) from Continuing Operations before Income Taxes, Domestic 121 44 234
Current tax expense 29 25 15
Deferred tax expense 14 (63) 34
Foreign Tax Authority [Member]      
Income Tax Examination [Line Items]      
Income (Loss) from Continuing Operations before Income Taxes, Foreign 11,334 9,482 6,251
Current tax expense 1,700 1,570 1,066
Deferred tax expense $ 72 $ (1,021) $ 124
v3.25.0.1
Taxation (Reconciliation Of The Difference Between The Provision for Income Taxes and the Expected Tax Provision at Swiss Statutory Income Tax Rate) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Expected tax provision at Swiss statutory tax rate $ 2,251 $ 1,872 $ 1,274
Taxes on earnings subject to rate other than Swiss statutory rate (510) (389) (243)
Bermuda tax law enactment (55) (1,135) 0
Net withholding taxes 145 15 75
Other (16) 148 133
Provision for income taxes $ 1,815 $ 511 $ 1,239
v3.25.0.1
Taxation (Components Of Net Deferred Tax Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred Tax Assets, Gross [Abstract]    
Loss reserve discount $ 1,746 $ 1,643
Unearned premiums reserve 753 678
Foreign tax credits 18 19
Loss carry-forwards 146 149
Investments [1] 512 524
Depreciation 26 37
Future policy benefits 176 (42)
Other 268 189
Total deferred tax assets 3,645 3,197
Valuation allowance 1,081 716
Deferred Tax Assets, Net of Valuation Allowance 2,564 2,481
Deferred Tax Liabilities, Gross [Abstract]    
Deferred policy acquisition costs 1,005 675
Other intangible assets, including VOBA 1,289 1,444
Un-remitted foreign earnings 251 176
Total deferred tax liabilities 2,545 2,295
Net deferred tax assets (liabilities) $ 19 $ 186
[1] Included in Investments are deferred taxes on unrealized depreciation of $787 million and $662 million at December 31, 2024 and 2023, respectively.
v3.25.0.1
Taxation (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Tax Contingency [Line Items]    
Balance, beginning of year $ 73 $ 67
Additions based on tax positions related to the current year 1 0
Additions based on tax positions related to prior years 57 9
Reductions for settlements with taxing authorities (1) (3)
Balance, end of year $ 130 $ 73
v3.25.0.1
Taxation Taxation (Summary Of Income Tax Examinations) (Details)
 12 Months Ended
Dec. 31, 2024
AUSTRALIA | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2018
AUSTRALIA | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
BRAZIL | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2018
BRAZIL | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
CANADA | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2012
CANADA | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
CHINA | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2021
CHINA | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
FRANCE | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2022
FRANCE | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
GERMANY | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2016
GERMANY | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
ITALY | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2019
ITALY | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
KOREA, REPUBLIC OF | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2019
KOREA, REPUBLIC OF | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
MEXICO | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2016
MEXICO | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
SPAIN | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2012
SPAIN | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
SWITZERLAND | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2019
SWITZERLAND | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
UNITED KINGDOM | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2015
UNITED KINGDOM | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
UNITED STATES | Minimum  
Income Tax Examination [Line Items]  
Open Tax Year 2014
UNITED STATES | Maximum  
Income Tax Examination [Line Items]  
Open Tax Year 2024
v3.25.0.1
Debt (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Jul. 01, 2023
Mar. 31, 2000
Debt Instrument [Line Items]        
Repurchase agreements $ 2,731.0 $ 2,833.0    
Long-term debt 14,379.0 13,035.0    
Huatai Group [Member]        
Debt Instrument [Line Items]        
Repurchase agreements     $ 1,269.0  
Variable Interest Entity, Primary Beneficiary        
Debt Instrument [Line Items]        
Repurchase agreements 815.0 1,009.0    
Variable Interest Entity, Primary Beneficiary | Huatai Group [Member]        
Debt Instrument [Line Items]        
Repurchase agreements $ 815.0 1,000.0    
Huatai Group [Member]        
Debt Instrument [Line Items]        
Repurchase agreements     $ 1,300.0  
Huatai Supplementary Bonds Due December 2034        
Debt Instrument [Line Items]        
Long-term debt stated interest rate 2.90%      
Senior Notes | INA Senior Notes Due December 2051 [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Face Amount $ 600.0      
Long-term debt stated interest rate 2.85%      
Long-term debt $ 594.0 593.0    
Senior Notes | INA Senior Notes Due December 2061 [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Face Amount $ 1,000.0      
Long-term debt stated interest rate 3.05%      
Long-term debt $ 984.0 984.0    
Trust Preferred Securities | Chubb INA Capital Securities Due 2030 [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Face Amount $ 309.0     $ 300.0
ACE Capital Trust II common securities purchased       $ 9.2
Long-term debt stated interest rate 9.70%     9.70%
Unsecured Debt | INA Senior Notes Due August 2029 [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Face Amount $ 100.0      
Long-term debt stated interest rate 8.875%      
Long-term debt $ 100.0 $ 100.0    
v3.25.0.1
Debt (Schedule of Debt Outstanding) (Details)
€ in Millions, ¥ in Millions, $ in Millions
Dec. 31, 2024
USD ($)
Dec. 31, 2024
EUR (€)
Dec. 31, 2024
CNY (¥)
Nov. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 31, 2000
USD ($)
Debt Instrument [Line Items]            
Weighted average interest rate on short-term debt         4.90%  
Repurchase agreements $ 2,731       $ 2,833  
Short-term debt 800       1,460  
Long-term debt 14,379       13,035  
Hybrid debt 419       308  
Variable Interest Entity, Primary Beneficiary            
Debt Instrument [Line Items]            
Repurchase agreements $ 815       1,009  
Huatai Supplementary Bonds Due December 2034            
Debt Instrument [Line Items]            
Long-term debt stated interest rate 2.90% 2.90% 2.90%      
Hybrid debt $ 110   ¥ 800 $ 111 0  
Senior Notes | INA Senior Notes Due March 2025 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 800          
Long-term debt stated interest rate 3.15% 3.15% 3.15%      
Long-term debt $ 0       799  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due May 2026 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 1,500          
Long-term debt stated interest rate 3.35% 3.35% 3.35%      
Long-term debt $ 1,498       1,497  
Make Whole Premium Additional Percent 0.20% 0.20% 0.20%      
Senior Notes | INA Senior Notes Due June 2027 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €   € 575        
Long-term debt stated interest rate 0.875% 0.875% 0.875%      
Long-term debt $ 604       623  
Make Whole Premium Additional Percent 0.20% 0.20% 0.20%      
Senior Notes | INA Senior Notes Due March 2028 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €   € 900        
Long-term debt stated interest rate 1.55% 1.55% 1.55%      
Long-term debt $ 944       974  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due December 2029 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €   € 700        
Long-term debt stated interest rate 0.875% 0.875% 0.875%      
Long-term debt $ 734       758  
Make Whole Premium Additional Percent 0.20% 0.20% 0.20%      
Senior Notes | INA Senior Notes Due September 2030 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 1,000          
Long-term debt stated interest rate 1.375% 1.375% 1.375%      
Long-term debt $ 995       994  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due June 2031 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €   € 575        
Long-term debt stated interest rate 1.40% 1.40% 1.40%      
Long-term debt $ 601       621  
Make Whole Premium Additional Percent 0.25% 0.25% 0.25%      
Senior Notes | INA Senior Notes Due May 2036 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 300          
Long-term debt stated interest rate 6.70% 6.70% 6.70%      
Long-term debt $ 298       298  
Make Whole Premium Additional Percent 0.20% 0.20% 0.20%      
Senior Notes | INA Senior Notes Due May 2037 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 800          
Long-term debt stated interest rate 6.00% 6.00% 6.00%      
Long-term debt $ 909       918  
Make Whole Premium Additional Percent 0.20% 0.20% 0.20%      
Senior Notes | INA Senior Notes Due March 2038 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €   € 900        
Long-term debt stated interest rate 2.50% 2.50% 2.50%      
Long-term debt $ 940       971  
Make Whole Premium Additional Percent 0.25% 0.25% 0.25%      
Senior Notes | INA Senior Notes Due May 2038 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 600          
Long-term debt stated interest rate 6.50% 6.50% 6.50%      
Long-term debt $ 710       718  
Make Whole Premium Additional Percent 0.30% 0.30% 0.30%      
Senior Notes | INA Senior Notes Due March 2043 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 475          
Long-term debt stated interest rate 4.15% 4.15% 4.15%      
Long-term debt $ 471       471  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due November 2045 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 1,500          
Long-term debt stated interest rate 4.35% 4.35% 4.35%      
Long-term debt $ 1,487       1,486  
Make Whole Premium Additional Percent 0.25% 0.25% 0.25%      
Senior Notes | INA Senior Notes Due December 2051 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 600          
Long-term debt stated interest rate 2.85% 2.85% 2.85%      
Long-term debt $ 594       593  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due December 2061 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 1,000          
Long-term debt stated interest rate 3.05% 3.05% 3.05%      
Long-term debt $ 984       984  
Make Whole Premium Additional Percent 0.20% 0.20% 0.20%      
Senior Notes | INA Senior Notes Due August 2029            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 700          
Long-term debt stated interest rate 4.65% 4.65% 4.65%      
Long-term debt $ 695       0  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due March 2034            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 1,600          
Long-term debt stated interest rate 5.00% 5.00% 5.00%      
Long-term debt $ 1,588       0  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Trust Preferred Securities | Chubb INA Capital Securities Due 2030 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 309         $ 300
Long-term debt stated interest rate 9.70% 9.70% 9.70%     9.70%
Hybrid debt [1] $ 309       308  
Unsecured Debt | INA Senior Notes Due August 2029 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 100          
Long-term debt stated interest rate 8.875% 8.875% 8.875%      
Long-term debt $ 100       100  
Unsecured Debt | INA Senior Notes Due November 2031 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 200          
Long-term debt stated interest rate 6.80% 6.80% 6.80%      
Long-term debt $ 227       $ 230  
Make Whole Premium Additional Percent 0.25% 0.25% 0.25%      
Repurchase agreements            
Debt Instrument [Line Items]            
Weighted average interest rate on short-term debt 4.10% 4.10% 4.10%   5.40%  
Repurchase agreements $ 1,916       $ 1,824  
Repurchase agreements | Variable Interest Entity, Primary Beneficiary            
Debt Instrument [Line Items]            
Weighted average interest rate on short-term debt 2.20% 2.20% 2.20%      
Repurchase agreements [2] $ 815       1,009  
Senior Notes | INA Senior Notes Due May 2024 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 700          
Long-term debt stated interest rate 3.35% 3.35% 3.35%      
Short-term debt $ 0       700  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due December 2024 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €   € 700        
Long-term debt stated interest rate 0.30% 0.30% 0.30%      
Short-term debt $ 0       760  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
Senior Notes | INA Senior Notes Due March 2025 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 800          
Long-term debt stated interest rate 3.15% 3.15% 3.15%      
Short-term debt $ 800       $ 0  
Make Whole Premium Additional Percent 0.15% 0.15% 0.15%      
[1] Redemption prices are equal to accrued and unpaid interest to the redemption date plus the greater of (i) 100 percent of the principal amount thereof, or (ii) sum of present value of scheduled payments of principal and interest on the capital securities from the redemption date to April 1, 2030.
[2] Refer to Note 1 g) to the Consolidated Financial Statements for additional information on the consolidation of VIEs.
v3.25.0.1
Commitments, contingencies, and guarantees (Narrative) (Detail)
€ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2024
EUR (€)
Financial Instruments Owned and Pledged as Collateral [Line Items]        
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]        
Derivative Liability, Subject to Master Netting Arrangement, after Offset $ (199) $ 115    
Securities Sold under Agreements to Repurchase 2,731 2,833    
Repurchase agreements $ 2,731 $ 2,833    
Concentration Risk Percentage Marsh 11.00% 11.00% 11.00% 11.00%
Purchase Commitment, Remaining Minimum Amount Committed $ 1,300 $ 1,000    
Carrying value of limited partnerships and partially-owned investment companies included in other investments 14,500 13,900    
Other Commitment 6,400 6,200    
Line of Credit Facility, Current Borrowing Capacity 4,100      
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases 3,000      
Operating Lease, Right-of-Use Asset 824 784    
Operating Lease, Liability $ 942 $ 832    
Operating Lease, Weighted Average Remaining Lease Term 13 years 3 months 18 days     13 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent 4.60%     4.60%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]        
Operating Lease, Liability, Statement of Financial Position [Extensible List]        
Operating Lease, Cost $ 214 $ 181 $ 161  
Lessee, Lease Not Yet Commenced, Noncurrent Amount 400      
Group Syndicated Credit Facility [Member]        
Financial Instruments Owned and Pledged as Collateral [Line Items]        
Line of Credit Facility, Current Borrowing Capacity 3,000      
Long-Term Debt [Member]        
Financial Instruments Owned and Pledged as Collateral [Line Items]        
Hedged Liability, Fair Value Hedge $ 1,600     € 1,500
Revenue Benchmark        
Financial Instruments Owned and Pledged as Collateral [Line Items]        
Concentration Risk, Customer accounted for more than 10 percent accounted for more than 10 percent accounted for more than 10 percent  
Letter of Credit [Member]        
Financial Instruments Owned and Pledged as Collateral [Line Items]        
Line of Credit Facility, Amount Outstanding $ 978 $ 948    
v3.25.0.1
Commitments, contingencies, and guarantees (Balance Sheet Locations, Fair Values In Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments) (Detail) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Foreign currency forward contracts [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount $ 3,959 $ 3,662
Futures contracts on notes and bonds [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount 449 2,062
Convertible Securities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount [1] 12 64
Investment And Embedded Derivative Instruments [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 53 110
Derivative Liability, Subject to Master Netting Arrangement, before Offset 303 136
Derivative, Notional Amount 4,420 5,788
Futures contracts on equities    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount [2] 1,047 1,157
Other Contract [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount 211 217
Other Derivative Instruments [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount 1,258 1,374
Fair Value Hedging    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount 1,579 1,631
Net Investment Hedging    
Derivatives, Fair Value [Line Items]    
Derivative, Notional Amount 2,896 1,619
Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 146 136
Derivative Liability, Subject to Master Netting Arrangement, before Offset 116 (128)
Derivative, Notional Amount 4,475 3,250
Accounts Payable and Accrued Liabilities [Member] | Foreign currency forward contracts [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset 295 94
Accounts Payable and Accrued Liabilities [Member] | Futures contracts on notes and bonds [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset 8 42
Accounts Payable and Accrued Liabilities [Member] | Futures contracts on equities    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset [2] 0 37
Accounts Payable and Accrued Liabilities [Member] | Other Contract [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset 2 5
Accounts Payable and Accrued Liabilities [Member] | Other Derivative Instruments [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset 2 42
Accounts Payable and Accrued Liabilities [Member] | Fair Value Hedging    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset 0 0
Accounts Payable and Accrued Liabilities [Member] | Net Investment Hedging    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Subject to Master Netting Arrangement, before Offset 116 128
Other Assets [Member] | Foreign currency forward contracts [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 41 27
Other Assets [Member] | Futures contracts on notes and bonds [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 0 27
Other Assets [Member] | Futures contracts on equities    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset [2] 35 0
Other Assets [Member] | Other Contract [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 0 0
Other Assets [Member] | Other Derivative Instruments [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 35 0
Other Assets [Member] | Fair Value Hedging    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 103 126
Other Assets [Member] | Net Investment Hedging    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Subject to Master Netting Arrangement, before Offset 43 10
Fixed Maturities [Member] | Convertible Securities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Asset, Not Subject to Master Netting Arrangement [1] 12 56
Equity Securities [Member] | Convertible Securities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Liability, Not Subject to Master Netting Arrangement [1] $ 0 $ 0
[1] Includes fair value of embedded derivatives.
[2] Related to MRB book of business.
v3.25.0.1
Commitment, Contingencies, And Guarantees (Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]      
Interest expense reclassified from OCI $ 741 $ 672 $ 570
Fair Value Hedging      
Financial Instruments Owned and Pledged as Collateral [Line Items]      
Gain/(loss) recognized in OCI (38) 101  
Net realized gain/(loss) reclassified from OCI (103) 50  
Interest expense reclassified from OCI 15 16  
OCI gain (loss) after reclassifications $ 80 $ 67  
v3.25.0.1
Commitments, Contingencies, And Guarantees (Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location) (Details) - Net Investment Hedging - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]    
Gain/(loss) recognized in OCI $ 58 $ (58)
Interest income reclassified from OCI 19 13
OCI gain (loss) after reclassifications $ 39 $ (71)
v3.25.0.1
Commitments, contingencies, and guarantees (Net Realized Gains (Losses) Of Derivative Instrument Activity In Consolidated Statement Of Operations) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net $ (358) $ (252) $ 133
Foreign currency forward contracts [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (213) (50) (339)
Futures contracts on notes and bonds [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 22 (2) 297
Convertible Securities [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [1] 2 (1) (1)
Investment And Embedded Derivative Instruments [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (189) (53) (43)
Futures contracts on equities      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net [2] (165) (189) 187
Other Contract [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (4) (10) (11)
Guaranteed Living Benefit And Other Derivative Instruments [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net $ (169) $ (199) $ 176
[1] Includes embedded derivatives.
[2] Related to MRB book of business.
v3.25.0.1
Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral $ 1,445 $ 1,299
Collateral held under securities lending agreements 1,445 1,299
Repurchase Agreements [Member]    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Secured Borrowings, Gross, Difference, Amount 159 [1] 91
Maturity Overnight [Member] | Cash    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral 557 555
Maturity Overnight [Member] | U.S. Treasury / Agency    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral 145 33
Maturity Overnight [Member] | Foreign [Member]    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral 663 621
Maturity Overnight [Member] | Corporate securities    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral 49 57
Maturity Overnight [Member] | Equity securities    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral 28 27
Maturity Overnight [Member] | States, municipalities, and political subdivisions    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Securities lending collateral $ 3 $ 6
[1] Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.
v3.25.0.1
Commitments, contingencies, and guarantees Commitments, contingencies, and guarantees (Collateral pledged under repurchase agreements) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Repurchase agreements $ 2,731 $ 2,833
Securities Sold under Agreements to Repurchase 2,731 2,833
Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 2,890 2,924
Cash | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 21 34
Non-US [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 1,387 1,355
U.S. Treasury / Agency | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 104 105
Mortgage-backed securities | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 1,378 1,430
Repurchase Agreements [Member]    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Secured Borrowings, Gross, Difference, Amount 159 [1] 91
Maturity Less than 30 Days [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 1,387 1,355
Maturity Less than 30 Days [Member] | Cash | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 0 0
Maturity Less than 30 Days [Member] | Non-US [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 1,387 1,355
Maturity Less than 30 Days [Member] | U.S. Treasury / Agency | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 0 0
Maturity Less than 30 Days [Member] | Mortgage-backed securities | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 0 0
Maturity 30 to 90 Days [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 473 1,051
Maturity 30 to 90 Days [Member] | Cash | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 19 33
Maturity 30 to 90 Days [Member] | Non-US [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 0 0
Maturity 30 to 90 Days [Member] | U.S. Treasury / Agency | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 0 105
Maturity 30 to 90 Days [Member] | Mortgage-backed securities | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 454 913
Maturity Greater than 90 Days [Member]    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 1,030  
Maturity Greater than 90 Days [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities   518
Maturity Greater than 90 Days [Member] | Cash | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 2 1
Maturity Greater than 90 Days [Member] | Non-US [Member] | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 0 0
Maturity Greater than 90 Days [Member] | U.S. Treasury / Agency | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities 104 0
Maturity Greater than 90 Days [Member] | Mortgage-backed securities | Asset Pledged as Collateral without Right    
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]    
Deposits with U.S. regulatory authorities $ 924 $ 517
[1] Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.
v3.25.0.1
Commitments, contingencies, and guarantees (Future Minimum Lease Payments) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]    
2025 $ 178  
2026 154  
2027 117  
2028 90  
2029 74  
Thereafter 759  
Total undiscounted lease payments 1,372  
Present value adjustment 430  
Operating Lease, Liability $ 942 $ 832
v3.25.0.1
Shareholders' equity (Detail)
SFr / shares in Units, $ / shares in Units, $ in Millions
 12 Months Ended
May 21, 2024
shares
May 22, 2023
shares
Aug. 04, 2022
shares
Jan. 17, 2022
shares
Dec. 31, 2024
CHF (SFr)
SFr / shares
shares
Dec. 31, 2023
SFr / shares
shares
Dec. 31, 2022
shares
May 16, 2024
$ / shares
May 19, 2023
$ / shares
May 31, 2022
$ / shares
May 19, 2022
USD ($)
Jul. 19, 2021
USD ($)
Stockholders' Equity Note [Abstract]                        
Common Stock, Dividend Rate Approved | $ / shares               $ 0.91 $ 0.86 $ 0.83    
The number of votes associated with one Common Share         one              
Annual dividend per share approved by shareholders | $ / shares               $ 3.64 $ 3.44 $ 3.32    
Authorized Share Capital [Line Items]                        
Common Shares, par value | SFr / shares         SFr 0.50 SFr 0.50            
Treasury Stock, Shares, Retired 11,825,600 14,925,028 13,179,100 14,465,400 11,825,600 14,925,028 27,644,500          
The maximum ownership percentage for voting allowed for any one shareholder         10.00%              
CB_Capital Band Increase Decrease Percentage         20.00%              
Issuance of Debt                        
Authorized Share Capital [Line Items]                        
Authorized share capital for future issuance         33,000,000              
Employee Benefit Plans                        
Authorized Share Capital [Line Items]                        
Authorized share capital for future issuance         25,410,929              
Capital Band Upper Limit                        
Authorized Share Capital [Line Items]                        
Authorized share capital for future issuance         503,551,183              
Share capital increases and reductions | SFr         SFr 251,775,591.5              
Capital Band Lower Limit                        
Authorized Share Capital [Line Items]                        
Authorized share capital for future issuance         335,700,789              
Share capital increases and reductions | SFr         SFr 167,850,394.5              
2022 Stock Repurchase Plan                        
Authorized Share Capital [Line Items]                        
Stock repurchase program authorized amount | $                     $ 2,500  
2021 Stock Repurchase Plan                        
Authorized Share Capital [Line Items]                        
Stock repurchase program authorized amount | $                       $ 5,000
v3.25.0.1
Shareholders' equity Schedule of Dividends Declared (Details)
 12 Months Ended
Dec. 31, 2024
SFr / shares
Dec. 31, 2024
$ / shares
Dec. 31, 2023
SFr / shares
Dec. 31, 2023
$ / shares
Dec. 31, 2022
SFr / shares
Dec. 31, 2022
$ / shares
Dividends Declared [Line Items]            
Total dividend distributions per common share | (per share) SFr 3.15 $ 3.59 SFr 3.05 $ 3.41 SFr 3.11 $ 3.29
v3.25.0.1
Shareholders' equity (Rollforward Of Changes In Common Stock Shares Issued And Outstanding) (Details) - shares
 12 Months Ended
May 21, 2024
May 22, 2023
Aug. 04, 2022
Jan. 17, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Class of Stock [Line Items]                
Shares issued, Beginning of year         431,451,586 446,376,614 474,021,114  
Treasury Stock, Shares, Retired (11,825,600) (14,925,028) (13,179,100) (14,465,400) (11,825,600) (14,925,028) (27,644,500)  
Shares issued, End of year         419,625,986 431,451,586 446,376,614  
Treasury Stock, Common, Shares         18,922,323 26,181,949 31,781,758 47,448,502
Stock Issued During Period, Shares, New Issues         2,952,591 2,500,381 2,947,272  
Treasury Stock, Shares, Acquired         (7,518,565) (11,825,600) (14,925,028)  
Shares issued and outstanding, end of year         400,703,663 405,269,637 414,594,856  
v3.25.0.1
Shareholders' equity Repurchase of Common Shares (Details) - USD ($)
$ in Millions
 2 Months Ended 12 Months Ended
Feb. 26, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jul. 01, 2023
May 19, 2022
Jul. 19, 2021
Equity, Class of Treasury Stock [Line Items]              
Number of shares repurchased   7,518,565 11,825,600 14,925,028      
2021 Stock Repurchase Plan              
Equity, Class of Treasury Stock [Line Items]              
Number of shares repurchased       14,925,028      
Common Shares repurchased       $ 3,014      
Stock repurchase program authorized amount             $ 5,000
2022 Stock Repurchase Plan              
Equity, Class of Treasury Stock [Line Items]              
Number of shares repurchased     11,825,600        
Common Shares repurchased     $ 2,478        
Stock repurchase program authorized amount           $ 2,500  
July 2023 Stock Repurchase Plan              
Equity, Class of Treasury Stock [Line Items]              
Number of shares repurchased   7,518,565          
Common Shares repurchased   $ 2,024          
Stock repurchase program authorized amount         $ 5,000    
Subsequent Event [Member] | July 2023 Stock Repurchase Plan              
Equity, Class of Treasury Stock [Line Items]              
Number of shares repurchased 543,782            
Common Shares repurchased $ 148            
v3.25.0.1
Shareholders' equity AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax $ 59,507 $ 50,519  
Other Comprehensive Income (Loss), before Tax (1,865) 3,678 $ (10,076)
Other Comprehensive Income (Loss), Tax 117 317 (965)
Other Comprehensive Income (Loss), Net of Tax (1,982) 3,361 (9,111)
Balance – end of year, net of tax 64,021 59,507 50,519
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax (4,177) (7,279) 2,256
Balance – end of year, net of tax (4,552) (4,177) (7,279)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Including Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), before Reclassifications, before Tax (553) 2,948 (11,627)
Total net realized gains (losses) reclassified from AOCI 302 500 1,049
Other Comprehensive Income (Loss), before Tax (251) 3,448 (10,578)
Other Comprehensive Income (Loss), Tax 110 328 (1,043)
Other Comprehensive Income (Loss), Net of Tax (361) 3,120 (9,535)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), Net of Tax 14 18 0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax (13) (66) 0
Balance – end of year, net of tax 50 (13) (66)
Accumulated Defined Benefit Plans Adjustment [Member]      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax 297 225 240
Balance – end of year, net of tax 438 297 225
AOCI, Liability for Future Policy Benefit, Parent      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax 51 (75) (1,399)
Balance – end of year, net of tax (539) 51 (75)
AOCI, Liability for Future Policy Benefit, Including Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), before Tax (701) 84 1,480
Other Comprehensive Income (Loss), Tax 8 16 (156)
Other Comprehensive Income (Loss), Net of Tax (693) 100 1,324
AOCI, Liability for Future Policy Benefit, Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), Net of Tax (103) (26) 0
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Parent      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax (22) (24) (57)
Balance – end of year, net of tax (16) (22) (24)
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Including Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), before Tax 7 2 33
Other Comprehensive Income (Loss), Tax (1) 0 0
Other Comprehensive Income (Loss), Net of Tax 6 2 33
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), Net of Tax 0 0 0
Cumulative Translation Adjustment      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax (2,945) (2,966) (2,114)
Balance – end of year, net of tax (4,025) (2,945) (2,966)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), before Reclassifications, before Tax (1,158) 0 (907)
Total net realized gains (losses) reclassified from AOCI (19) (13) (4)
Other Comprehensive Income (Loss), before Tax (1,177) (13) (911)
Other Comprehensive Income (Loss), Tax (39) (27) (59)
Other Comprehensive Income (Loss), Net of Tax (1,138) 14 (852)
Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), Net of Tax (58) (7) 0
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), before Reclassifications, before Tax (38) 101 17
Total net realized gains (losses) reclassified from AOCI 118 (34) (100)
Other Comprehensive Income (Loss), before Tax 80 67 (83)
Other Comprehensive Income (Loss), Tax 17 14 (17)
Other Comprehensive Income (Loss), Net of Tax 63 53 (66)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), Net of Tax 0 0 0
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), before Tax 177 90 (17)
Other Comprehensive Income (Loss), Tax 36 18 (2)
Other Comprehensive Income (Loss), Net of Tax 141 72 (15)
Accumulated Defined Benefit Plans Adjustment Attributable to Noncontrolling Interest      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Other Comprehensive Income (Loss), Net of Tax 0 0 0
Accumulated Other Comprehensive Income      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance – beginning of year, net of tax (6,809) (10,185) (1,074)
Other Comprehensive Income (Loss), Net of Tax (1,835) 3,376 (9,111)
Balance – end of year, net of tax $ (8,644) $ (6,809) $ (10,185)
v3.25.0.1
Shareholders' equity AOCI Reclassifications (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Interest expense $ 741 $ 672 $ 570
Income tax expense 1,815 511 1,239
Net income attributable to Chubb 9,272 9,028 5,246
Reclassification out of Accumulated Other Comprehensive Income [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Net income attributable to Chubb (288) (401) (797)
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Income tax expense 92 62 170
Net income attributable to Chubb (210) (438) (879)
Debt Securities, Available-for-sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment (302) (500) (1,049)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cumulative Translation Adjustment      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Interest expense 19 13 4
Income tax expense (4) (3) (1)
Net income attributable to Chubb 15 10 3
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Foreign Currency Transaction Gain (Loss), Realized (103) 50 105
Interest expense (15) (16) (5)
Income tax expense 25 (7) (21)
Net income attributable to Chubb $ (93) $ 27 $ 79
v3.25.0.1
Share-based compensation (Narrative) (Detail) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized compensation expense related to the unvested share-based awards $ 400,000,000    
Weighted-average expected recognition period for the unrecognized compensation expense 1 year 6 months    
Weighted average remaining contractual term for stock options outstanding 5 years 7 months 6 days    
Weighted-average remaining contractual term for stock options exercisable 4 years 6 months    
Cash received from exercise of stock options $ 295,000,000 $ 158,000,000 $ 216,000,000
Restricted stock awards granted to non-management directors 10,388 12,994 13,440
Amounts paid during period by employees for the purchase of shares under the ESPP $ 61,000,000 $ 54,000,000 $ 48,000,000
Number of shares purchased during period by employees pursuant to the provisions of the ESPP 272,350 305,604 271,650
Discounted purchase price from market price for the ESPP 85.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate for the ESPP 10.00%    
Payment, Tax Withholding, Share-Based Payment Arrangement $ 128,000,000 $ 101,000,000 $ 101,000,000
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Employee Stock Purchase Plan Authorized Amount $ 25,000    
Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period of award 3 years    
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period of award 3 years    
Stock option term in years 10 years    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of deferred restricted stock units 97,982    
ACE Limited 2004 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period of award 1 year    
Chubb Limited 2016 Long-Term Incentive Plan, amended and restated [Member] | Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period of award 4 years    
Legacy Chubb Corp | Restricted Stock Units (RSUs) | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period of award 1 year    
Legacy Chubb Corp | Restricted Stock Units (RSUs) | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period of award 3 years    
Common shares | Employee Stock [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common shares authorized for issuance under plan 9,000,000    
Common Stock, Capital Shares Reserved for Future Issuance 2,738,105    
Common shares | Chubb Limited 2016 Long-Term Incentive Plan, amended and restated [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common shares authorized for issuance under plan 32,900,000    
Common Stock, Capital Shares Reserved for Future Issuance 10,072,965    
v3.25.0.1
Share-based compensation (Pre-tax and After-tax Share-based Compensation Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based Payment Arrangement, Expense, Tax Benefit $ 42 $ 19 $ 29
Restricted stock      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based compensation expense, pre-tax 274 253 230
Share-based compensation expense, after-tax 210 202 179
Stock options      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Share-based compensation expense, pre-tax 83 71 60
Share-based compensation expense, after-tax [1] $ 49 $ 56 $ 38
[1] The windfall tax benefit recorded to Income tax expense in the Consolidated statement of operations was $42 million, $19 million, and $29 million for the years ended December 31, 2024, 2023, and 2022, respectively.
v3.25.0.1
Share-based compensation (Weighted Average Assumptions for Option Grants) (Details) - Options
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Dividend yield 1.40% 1.70% 1.70%
Expected volatility 22.00% 23.00% 20.10%
Risk-free interest rate 4.30% 4.10% 1.90%
Expected life 5 years 8 months 12 days 5 years 8 months 12 days 5 years 9 months 18 days
v3.25.0.1
Share-based compensation (Rollforward Of Company's Stock Options) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Options, Weighted-Average Fair Value and Total Intrinsic Value [Abstract]      
Weighted-average fair value of stock options granted (US$ per share) $ 64.15 $ 51.32 $ 35.46
Total intrinsic value of options exercised $ 265 $ 107 $ 163
Total intrinsic value of options outstanding 965    
Total intrinsic value of options exercisable $ 837    
Number of Options [Roll Forward]      
Number of option outstanding, beginning of period 10,480,884 10,410,278 10,762,487
Number of options exercised (2,173,668) (1,249,350) (1,878,147)
Number of options forfeited and expired (156,141) (220,046) (205,966)
Number of option outstanding, end of period 9,511,719 10,480,884 10,410,278
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross 1,360,644 1,540,002 1,731,904
Number of options exercisable 6,807,857    
Weighted-Average Exercise Price [Roll Forward]      
Weighted-average exercise price of options outstanding, beginning of period (US$ oer share) $ 157.24 $ 146.81 $ 133.94
Weighted-average exercise price of options granted (US$ per share) 254.84 208.60 198.36
Weighted-average exercise price of options exercised (US$ per share) 136.82 127.45 117.83
Weighted average exercise price of options forfeited (US$ per share) 218.64 191.57 171.45
Weighted-average exercise price of options outstanding, end of period (US$ oer share 174.86 $ 157.24 $ 146.81
Weighted average exercise price of options exercisable (US$ per share) $ 153.29    
v3.25.0.1
Share-based compensation (Rollforward Of Company's Restricted Stock) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restricted stock      
Number of Restricted Stock [Roll Forward]      
Number of unvested restricted stock, beginning of period 2,673,815 2,853,870 3,051,811
Number of restricted stock, granted 1,009,991 1,166,706 1,193,016
Number of restricted stock, vested and issued (1,077,560) (1,142,911) (1,191,452)
Number of restricted stock, forfeited (146,931) (203,850) (199,505)
Number of unvested restricted stock, end of period 2,459,315 2,673,815 2,853,870
Weighted-Average Grant-Day Fair Value [Roll Forward]      
Weighted average grant-day fair value of unvested restricted stock outstanding, beginning of period (US$ per share) $ 191.35 $ 172.39 $ 152.19
Weighted average grant-day fair value of restricted stock, granted (US$ per share) 255.16 208.07 199.18
Weighted average grant-day fair value of restricted stock, vested and issued (US$ per share) 181.12 161.88 148.18
Weighted average grant-day fair value of restricted stock, forfeited (US$ per share) 213.90 186.58 168.12
Weighted average grant-day fair value of unvested restricted stock outstanding, end of period (US$ per share) $ 220.78 $ 191.35 $ 172.39
Performance Shares      
Number of Restricted Stock [Roll Forward]      
Number of unvested restricted stock, beginning of period 999,084 794,792 697,191
Number of restricted stock, granted 392,775 407,825 296,944
Number of restricted stock, vested and issued (294,315) (203,533) (199,343)
Number of restricted stock, forfeited 0 0 0
Number of unvested restricted stock, end of period 1,097,544 999,084 794,792
Weighted-Average Grant-Day Fair Value [Roll Forward]      
Weighted average grant-day fair value of unvested restricted stock outstanding, beginning of period (US$ per share) $ 192.85 $ 173.83 $ 151.74
Weighted average grant-day fair value of restricted stock, granted (US$ per share) 254.34 208.60 199.09
Weighted average grant-day fair value of restricted stock, vested and issued (US$ per share) 164.75 150.11 133.90
Weighted average grant-day fair value of restricted stock, forfeited (US$ per share) 0 0 0
Weighted average grant-day fair value of unvested restricted stock outstanding, end of period (US$ per share) $ 222.39 $ 192.85 $ 173.83
v3.25.0.1
Postretirement benefits (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Expenses recognized during period under the defined contributions plans $ 298 $ 283 $ 230
Defined Benefit Plan, Plan Amendment [Abstract]      
Other investments 8,597 5,527  
Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Accumulated Benefit Obligation 3,300 3,500  
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year 15    
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 62 69 81
Actuarial Loss (gain) (2) 2  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 20 21  
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year 1    
Defined Benefit Plan, Plan Amendment [Abstract]      
(Increase) decrease in other comprehensive income, curtailment 0 0 0
Amortization of Prior Service Cost (Credit) $ 1 0 0
Defined Benefit Plan, Equity Securities [Member] | Minimum      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Percentage 55.00%    
Defined Benefit Plan, Equity Securities [Member] | Maximum      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Percentage 65.00%    
Level 2 | Fixed Maturities [Member] | Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 23 34  
Other Investments | Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 39 35  
UNITED STATES | Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 3,687 3,589 3,316
Actuarial Loss (gain) (162) 82  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 41 45  
Defined Benefit Plan, Plan Amendment [Abstract]      
(Increase) decrease in other comprehensive income, curtailment 0 0 0
Amortization of Prior Service Cost (Credit) 0 0 0
Other investments 714 634  
Non - U.S. | Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 965 986 938
Actuarial Loss (gain) (54) 29  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 70 73  
Defined Benefit Plan, Plan Amendment [Abstract]      
(Increase) decrease in other comprehensive income, curtailment 0 0 0
Amortization of Prior Service Cost (Credit) 0 (1) $ 0
Other investments $ 222 $ 227  
v3.25.0.1
Postretirement benefits Schedule of Net Funded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Plan [Member]      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Service Cost $ 9 $ 7 $ 4
Pension Plan [Member] | UNITED STATES      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit Obligation, beginning of year 2,833 2,781  
Service Cost 0 0 0
Interest Cost 134 138 85
Actuarial Loss (gain) (162) 82  
Defined Benefit Plan, Benefit Obligation, Benefits Paid (151) (168)  
Amendments 0 0  
Curtailments 0 0  
Settlements, Benefit obligations 0 0  
Foreign currency revaluation, benefit obligations 0 0  
Benefit Obligation, end of year 2,654 2,833 2,781
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value, beginning of year 3,589 3,316  
Actual Return on Plan Assets 243 417  
Employer Contributions 6 24  
Benefits Paid (151) (168)  
Settlements 0 0  
Foreign currency revaluation, Plan Assets 0 0  
Plan assets at fair value, end of year 3,687 3,589 3,316
Defined Benefit Plan, Funded (Unfunded) Status of Plan 1,033 756  
Assets for Plan Benefits, Defined Benefit Plan 1,074 801  
Liability, Defined Benefit Plan (41) (45)  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position 1,033 756  
Pension Plan [Member] | Non - U.S.      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit Obligation, beginning of year 743 697  
Service Cost 9 7 4
Interest Cost 36 36 23
Actuarial Loss (gain) (54) 29  
Defined Benefit Plan, Benefit Obligation, Benefits Paid (37) (38)  
Amendments 1 0  
Curtailments 0 0  
Settlements, Benefit obligations 0 (5)  
Foreign currency revaluation, benefit obligations (14) 17  
Benefit Obligation, end of year 684 743 697
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value, beginning of year 986 938  
Actual Return on Plan Assets 12 57  
Employer Contributions 13 15  
Benefits Paid (37) (38)  
Settlements 0 (8)  
Foreign currency revaluation, Plan Assets (9) 22  
Plan assets at fair value, end of year 965 986 938
Defined Benefit Plan, Funded (Unfunded) Status of Plan 281 243  
Assets for Plan Benefits, Defined Benefit Plan 335 300  
Liability, Defined Benefit Plan (54) (57)  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position 281 243  
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Benefit Obligation, beginning of year 36 43  
Service Cost 1 0 1
Interest Cost 2 2 1
Actuarial Loss (gain) (2) 2  
Defined Benefit Plan, Benefit Obligation, Benefits Paid (10) (12)  
Amendments 0 0  
Curtailments 0 0  
Settlements, Benefit obligations 0 0  
Foreign currency revaluation, benefit obligations (2) 1  
Benefit Obligation, end of year 25 36 43
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Plan assets at fair value, beginning of year 69 81  
Actual Return on Plan Assets 3 4  
Employer Contributions 0 1  
Benefits Paid (10) (17)  
Settlements 0 0  
Foreign currency revaluation, Plan Assets 0 0  
Plan assets at fair value, end of year 62 69 $ 81
Defined Benefit Plan, Funded (Unfunded) Status of Plan 37 33  
Assets for Plan Benefits, Defined Benefit Plan 57 54  
Liability, Defined Benefit Plan (20) (21)  
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position $ 37 $ 33  
v3.25.0.1
Postretirement benefits Schedule of amounts recognized in AOCI on a pretax basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Pension Plan [Member] | UNITED STATES    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Net actuarial loss (gain) $ (563) $ (404)
Prior Service Cost (benefit) 0 0
Total (563) (404)
Pension Plan [Member] | Non - U.S.    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Net actuarial loss (gain) 11 29
Prior Service Cost (benefit) 8 8
Total 19 37
Other Postretirement Benefits Plan [Member]    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Net actuarial loss (gain) (11) (10)
Prior Service Cost (benefit) (3) (4)
Total $ (14) $ (14)
v3.25.0.1
Postretirement benefits Schedule of Benefit Obligation in Excess of FV (Details) - Pension Plan [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
UNITED STATES    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation $ 41 $ 45
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets 0 0
Actuarial Loss (gain) (162) 82
Net Funded Status With PBO in Excess Of Plan Assets (41) (45)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 41 45
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets 0 0
Non - U.S.    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation 95 101
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets 41 44
Actuarial Loss (gain) (54) 29
Net Funded Status With PBO in Excess Of Plan Assets (54) (57)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 70 73
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets $ 38 $ 40
v3.25.0.1
Postretirement benefits Schedule of assumptions used to determine benefit obligation (Details)
Dec. 31, 2024
Dec. 31, 2023
Other Postretirement Benefits Plan [Member]    
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]    
Benefit Obligation, Discount Rate 6.46% 6.01%
UNITED STATES | Pension Plan [Member]    
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]    
Benefit Obligation, Discount Rate 5.56% 4.98%
Interest crediting rate 4.43% 4.55%
Non - U.S. | Pension Plan [Member]    
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]    
Benefit Obligation, Discount Rate 5.62% 5.03%
Benefit Obligation, Rate of Compensation Increase [1] 3.61% 3.73%
[1] 1) For the U.S. Pension Plans, benefit accruals were frozen as of December 31, 2019.
v3.25.0.1
Postretirement benefits Schedule of net periodic benefit costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost $ 9 $ 7 $ 4
Defined Benefit Plan, Non Service (Benefit) Cost (123) (94) (218)
Net Periodic Benefit Cost (114) (87) (214)
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 1 0 1
Interest Cost 2 2 1
Expected Return on Plan Assets (3) (3) (1)
Amortization of (Gains) Losses (2) (1) 0
Amortization of Prior Service Cost (Credit) (1) 0 0
Recognized Net (Gain) Loss Due to Curtailments 0 0 0
Recognized Net (Gain) Loss Due to Settlements 0 0 0
Defined Benefit Plan, Non Service (Benefit) Cost (4) (2) 0
Net Periodic Benefit Cost (3) (2) 1
(Increase) decrease in Other Comprehensive Income (Loss), Net Actuarial (Gain) Loss) (3) 2 (1)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0 0 0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax 2 1 0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 1 0 0
(Increase) decrease in other comprehensive income, curtailment 0 0 0
(Increase) decrease in other comprehensive income, settlement 0 0 0
Total (increase) decrease in other comprehensive (Income) Loss 0 3 (1)
Losses and loss expenses [Member] | Pension Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 0 0 0
Defined Benefit Plan, Non Service (Benefit) Cost (12) (9) (20)
Losses and loss expenses [Member] | Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 0 0 0
Defined Benefit Plan, Non Service (Benefit) Cost (1) 0 0
General and Administrative Expense [Member] | Pension Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 9 7 4
Defined Benefit Plan, Non Service (Benefit) Cost (111) (85) (198)
General and Administrative Expense [Member] | Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 1 0 1
Defined Benefit Plan, Non Service (Benefit) Cost (3) (2) 0
UNITED STATES | Pension Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 0 0 0
Interest Cost 134 138 85
Expected Return on Plan Assets (244) (225) (283)
Amortization of (Gains) Losses (2) 0 0
Amortization of Prior Service Cost (Credit) 0 0 0
Recognized Net (Gain) Loss Due to Curtailments 0 0 0
Recognized Net (Gain) Loss Due to Settlements 1 3 0
Defined Benefit Plan, Non Service (Benefit) Cost (111) (84) (198)
Net Periodic Benefit Cost (111) (84) (198)
(Increase) decrease in Other Comprehensive Income (Loss), Net Actuarial (Gain) Loss) (161) (111) 85
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0 0 0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax 2 0 0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 0 0 0
(Increase) decrease in other comprehensive income, curtailment 0 0 0
(Increase) decrease in other comprehensive income, settlement (1) (3) 0
Total (increase) decrease in other comprehensive (Income) Loss (160) (114) 85
Non - U.S. | Pension Plan [Member]      
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax [Abstract]      
Service Cost 9 7 4
Interest Cost 36 36 23
Expected Return on Plan Assets (50) (51) (43)
Amortization of (Gains) Losses 1 0 0
Amortization of Prior Service Cost (Credit) 0 1 0
Recognized Net (Gain) Loss Due to Curtailments 0 0 0
Recognized Net (Gain) Loss Due to Settlements 1 4 0
Defined Benefit Plan, Non Service (Benefit) Cost (12) (10) (20)
Net Periodic Benefit Cost (3) (3) (16)
(Increase) decrease in Other Comprehensive Income (Loss), Net Actuarial (Gain) Loss) (15) 22 (67)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0 0 0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax (1) 0 0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 0 0 0
(Increase) decrease in other comprehensive income, curtailment 0 0 0
(Increase) decrease in other comprehensive income, settlement (1) (1) 0
Total (increase) decrease in other comprehensive (Income) Loss $ (17) $ 21 $ (67)
v3.25.0.1
Postretirement benefits Weighted Average Assumption used to determine the net periodic cost of benefit (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Plan [Member] | Non - U.S.      
Defined Benefit Plan Disclosure [Line Items]      
Rate of Compensation Increase 3.73% 3.98% 3.63%
Expected Long-term Return on Assets 5.24% 5.42% 3.44%
Pension Plan [Member] | Non - U.S. | Interest Cost [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 5.12% 5.28% 2.13%
Pension Plan [Member] | Non - U.S. | Service Cost [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 6.67% 6.57% 7.23%
Pension Plan [Member] | UNITED STATES      
Defined Benefit Plan Disclosure [Line Items]      
Expected Long-term Return on Assets 7.00% 7.00% 7.00%
Interest crediting rate, net periodic benefit costs 4.55% 4.32% 4.10%
Pension Plan [Member] | UNITED STATES | Interest Cost [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.88% 5.13% 2.34%
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Expected Long-term Return on Assets 4.00% 4.00% 1.00%
Other Postretirement Benefits Plan [Member] | Interest Cost [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 6.01% 5.84% 1.89%
Other Postretirement Benefits Plan [Member] | Service Cost [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 5.23% 5.67% 3.22%
v3.25.0.1
Postretirement benefits Schedule of Health Care Cost Trend Rates (Details) - Pension Plan [Member]
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
UNITED STATES      
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]      
Health Care Cost Trend Rate 6.52% 5.57% 5.72%
Ultimate Health Care Cost Trend Rate 4.00% 4.00% 4.00%
Year that Rate Reaches Ultimate Trend Rate 2048 2046 2046
Non - U.S.      
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]      
Health Care Cost Trend Rate 4.94% 5.08% 5.28%
Ultimate Health Care Cost Trend Rate 4.10% 4.08% 4.04%
Year that Rate Reaches Ultimate Trend Rate 2040 2040 2040
v3.25.0.1
Postretirement benefits Schedule of Allocation of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Other investments $ 8,597 $ 5,527  
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 62 69 $ 81
Other Investments | Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 39 35  
Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Other investments 14,769 14,078  
UNITED STATES | Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Other investments 714 634  
Defined benefit plan, fair value of plan assets excluding measured using NAV 2,747 [1] 2,715 [2]  
Defined Benefit Plan, Plan Assets, Amount 3,687 3,589 3,316
Cash, including restricted cash $261 and $172 (includes VIE balances of $114 and $117) 3 16  
UNITED STATES | Pension Plan [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 2,060 [1] 1,986 [2]  
UNITED STATES | Pension Plan [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 687 [1] 729 [2]  
UNITED STATES | Pension Plan [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0 [2]  
UNITED STATES | Pension Plan [Member] | Short-term investments      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 59 45  
UNITED STATES | Pension Plan [Member] | Short-term investments | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 59 45  
UNITED STATES | Pension Plan [Member] | Short-term investments | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Short-term investments | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | U.S. Treasury / Agency      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 541 556  
UNITED STATES | Pension Plan [Member] | U.S. Treasury / Agency | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 453 470  
UNITED STATES | Pension Plan [Member] | U.S. Treasury / Agency | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 88 86  
UNITED STATES | Pension Plan [Member] | U.S. Treasury / Agency | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 593 637  
UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 593 637  
UNITED STATES | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | States, municipalities, and political subdivisions      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 6 6  
UNITED STATES | Pension Plan [Member] | States, municipalities, and political subdivisions | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | States, municipalities, and political subdivisions | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 6 6  
UNITED STATES | Pension Plan [Member] | States, municipalities, and political subdivisions | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 1,547 1,466  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 1,547 1,466  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Derivative      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 1 5  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Derivative | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 1 5  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Derivative | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Pension Plan [Member] | Defined Benefit Plan, Derivative | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
UNITED STATES | Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member] | Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Other investments 223 224  
Non - U.S. | Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Other investments 222 227  
Defined benefit plan, fair value of plan assets excluding measured using NAV 725 742  
Defined Benefit Plan, Plan Assets, Amount 965 986 $ 938
Non - U.S. | Pension Plan [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 60 70  
Non - U.S. | Pension Plan [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 660 668  
Non - U.S. | Pension Plan [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 5 4  
Non - U.S. | Pension Plan [Member] | Short-term investments      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 22 7  
Non - U.S. | Pension Plan [Member] | Short-term investments | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 22 7  
Non - U.S. | Pension Plan [Member] | Short-term investments | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
Non - U.S. | Pension Plan [Member] | Short-term investments | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 435 457  
Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 435 457  
Non - U.S. | Pension Plan [Member] | Debt Security, Government, Non-US [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 0 0  
Non - U.S. | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 268 278  
Non - U.S. | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 38 63  
Non - U.S. | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 225 211  
Non - U.S. | Pension Plan [Member] | Defined Benefit Plan, Equity Securities [Member] | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Defined benefit plan, fair value of plan assets excluding measured using NAV 5 4  
Non - U.S. | Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member] | Pension Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Other investments $ 18 $ 17  
[1] Excluded from the table above are $714 million and $222 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $223 million and $18 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $3 million in cash and accrued income related to the U.S. Plans.
[2] Excluded from the table above are $634 million and $227 million of other investments related to the U.S. Plans and Non-U.S. Plans, respectively, private equities of $224 million and $17 million in U.S. Plans and Non-U.S. Plans, respectively, measured using NAV as a practical expedient, and $16 million in cash and accrued income related to the U.S. Plans.
v3.25.0.1
Postretirement benefits (Schedule of Expected Future Benefit Payments) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Other Postretirement Benefits Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
2025 $ 5
2026 1
2027 1
2028 1
2029 1
2030-2034 6
Non - U.S. | Pension Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
2025 42
2026 35
2027 35
2028 38
2029 40
2030-2034 237
UNITED STATES | Pension Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
2025 184
2026 187
2027 190
2028 193
2029 196
2030-2034 $ 982
v3.25.0.1
Other income and expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Equity in net income of partially-owned entities $ 967 $ 867 $ 1
Gains (losses) from fair value changes in separate account assets (8) (45) (42)
Federal excise and capital taxes (21) (24) (21)
Other (34) (23) (27)
Total 1,023 836 (89)
Unrealized Gain (Loss) on Investments (361) 3,120 (9,535)
Asset management and performance fee revenue 265 136 0
Asset management and performance fee expense (146) (75) 0
Partially-owned Investment Companies      
Unrealized Gain (Loss) on Investments 537 434 $ (219)
Huatai Group [Member]      
Equity in net income of partially-owned entities $ 36 $ (11)  
v3.25.0.1
Segment Information (Operations By Segment) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net premiums written $ 51,468 $ 47,361 $ 41,720
Net premiums earned 49,846 45,712 40,360
Losses and loss expenses 26,022 24,100 22,572
Policy acquisition costs 9,102 8,259 7,339
Administrative expenses 4,380 4,007 3,395
Other (income) expense (1,023) (836) 89
Amortization of purchased intangibles 323 310 285
Segment income 12,975 11,630 9,319
Net realized gains (losses) 117 (607) (1,085)
Market risk benefits gains (losses) (140) (307) 80
Interest expense 741 672 570
Integration expenses 39 69 48
Other reclassification (208) 5 11
Income before income tax 11,455 9,526 6,485
North America Commercial P&C Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums written 20,589 19,237 17,889
Net premiums earned 20,008 18,416 17,107
Losses and loss expenses 12,737 11,256 10,828
Policy benefits 0 0 0
Policy acquisition costs 2,718 2,515 2,313
Administrative expenses 1,337 1,250 1,113
Underwriting Income (Loss) 3,216 3,395 2,853
Net investment income 3,556 3,017 2,247
Other (income) expense 32 22 17
Amortization of purchased intangibles 3 0 0
Segment income 6,737 6,390 5,083
North America Personal P&C Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums written 6,532 5,878 5,313
Net premiums earned 6,188 5,536 5,180
Losses and loss expenses 3,584 3,511 3,186
Policy benefits 0 0 0
Policy acquisition costs 1,239 1,128 1,057
Administrative expenses 351 329 291
Underwriting Income (Loss) 1,014 568 646
Net investment income 433 358 283
Other (income) expense 1 3 4
Amortization of purchased intangibles 9 9 10
Segment income 1,437 914 915
North America Agricultural Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums written 2,703 3,188 2,907
Net premiums earned 2,705 3,169 2,838
Losses and loss expenses 2,170 2,874 2,557
Policy benefits 0 0 0
Policy acquisition costs 191 150 126
Administrative expenses (10) (1) (10)
Underwriting Income (Loss) 354 146 165
Net investment income 84 63 36
Other (income) expense 1 1 1
Amortization of purchased intangibles 25 25 26
Segment income 412 183 174
Overseas General Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums written 13,972 12,575 11,060
Net premiums earned 13,400 12,231 10,803
Losses and loss expenses 6,414 5,643 4,894
Policy benefits 408 457 358
Policy acquisition costs 3,410 3,113 2,818
Administrative expenses 1,351 1,219 1,070
Underwriting Income (Loss) 1,817 1,799 1,663
Net investment income 1,136 895 626
Other (income) expense 14 (25) 2
Amortization of purchased intangibles 81 70 57
Segment income 2,858 2,649 2,230
Global Reinsurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums written 1,346 1,018 943
Net premiums earned 1,272 962 922
Losses and loss expenses 711 426 670
Policy benefits 0 0 0
Policy acquisition costs 342 264 240
Administrative expenses 39 37 36
Underwriting Income (Loss) 180 235 (24)
Net investment income 253 208 281
Other (income) expense 0 (2) 1
Amortization of purchased intangibles 0 0 0
Segment income 433 445 256
Life Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums written 6,326 5,465 3,608
Net premiums earned 6,273 5,398 3,510
Losses and loss expenses 112 114 85
Policy benefits 4,101 3,216 1,998
Policy acquisition costs 1,202 1,089 785
Administrative expenses 880 771 510
Net investment income 1,003 756 509
Other (income) expense (159) (115) (30)
Amortization of purchased intangibles 42 30 10
Segment income 1,098 1,049 661
Corporate and Other [Member]      
Segment Reporting Information [Line Items]      
Underwriting Income (Loss) (731) (683) (748)
Net investment income (105) 25  
Other (income) expense (490) (380) 292
Amortization of purchased intangibles $ 163 $ 176 $ 182
v3.25.0.1
Segment Information (Net Premiums Earned For Segment By Product) (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Net premiums earned $ 49,846 $ 45,712 $ 40,360
North America Commercial P&C Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 20,008 18,416 17,107
North America Commercial P&C Insurance [Member] | Property and other short-tail [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 4,756 3,985 3,383
North America Commercial P&C Insurance [Member] | Casualty and all other [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 14,560 13,764 13,056
North America Commercial P&C Insurance [Member] | Accident and Health [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 692 667 668
North America Personal P&C Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 6,188 5,536 5,180
North America Personal P&C Insurance [Member] | Personal automobile [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 968 859 811
North America Personal P&C Insurance [Member] | Personal homeowners [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 4,293 3,833 3,557
North America Personal P&C Insurance [Member] | Insurance, Other [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 927 844 812
North America Agricultural Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 2,705 3,169 2,838
Overseas General Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 13,400 12,231 10,803
Overseas General Insurance [Member] | Property and other short-tail [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 4,338 3,831 3,382
Overseas General Insurance [Member] | Casualty and all other [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 3,705 3,526 3,232
Overseas General Insurance [Member] | Accident and Health [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 2,572 2,469 2,169
Overseas General Insurance [Member] | Personal lines [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 2,785 2,405 2,020
Global Reinsurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 1,272 962 922
Global Reinsurance [Member] | Property and other short-tail [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 490 331 211
Global Reinsurance [Member] | Casualty and all other [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 550 472 503
Global Reinsurance [Member] | Property catastrophe [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 232 159 208
Life Insurance [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 6,273 5,398 3,510
Life Insurance [Member] | Accident and Health [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned 3,224 3,097 2,055
Life Insurance [Member] | Life [Member]      
Segment Reporting Information [Line Items]      
Net premiums earned $ 3,049 $ 2,301 $ 1,455
v3.25.0.1
Segment Information (Net Premiums Earned By Geographic Region) (Details) - Geographic Concentration Risk - Revenue Benchmark
 12 Months Ended
Dec. 31, 2024
$ / ₫
Dec. 31, 2023
$ / ₫
Dec. 31, 2022
$ / ₫
North America [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 64.00% 65.00% 69.00%
Europe [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage [1] 11.00% 11.00% 11.00%
Asia      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage [2] 19.00% 18.00% 14.00%
Latin America [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 6.00% 6.00% 6.00%
[1] Europe includes Middle East and Africa regions.
[2] 2023 and 2024 include the consolidated results of Huatai Group effective July 1, 2023
v3.25.0.1
Earnings Per Share (Detail) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]      
Net income $ 9,640 $ 9,015 $ 5,246
Net income (loss) attributable to noncontrolling interests 368 (13) 0
Net income attributable to Chubb $ 9,272 $ 9,028 $ 5,246
Weighted-average shares outstanding 404,189,749 410,845,263 419,779,847
Share-based compensation plans 4,296,686 3,357,305 3,747,597
Adjusted weighted-average shares outstanding and assumed conversions 408,486,435 414,202,568 423,527,444
Basic earnings per share attributable to Chubb $ 22.94 $ 21.97 $ 12.50
Diluted earnings per share attributable to Chubb $ 22.70 $ 21.80 $ 12.39
Potential anti-dilutive share conversions 1,150,169 2,385,099 1,467,840
v3.25.0.1
Related party transactions (Schedule of related party transactions) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Related Party Transaction [Line Items]      
Other income (expense) $ 1,023 $ 836 $ (89)
Private equities 14,769 14,078  
Ceded Premiums Written 10,535 10,165 10,258
Losses and loss expenses 26,022 24,100 22,572
Insurance and reinsurance balances payable 8,121 8,302  
Total revenues $ 55,753 49,735 43,097
Bermuda | ABR Reinsurance Capital Holdings Ltd. [Member] | ABR Reinsurance Capital Holdings Ltd. [Member]      
Related Party Transaction [Line Items]      
Ownership Percentage 18.70%    
ABR Reinsurance Capital Holdings Ltd. [Member]      
Related Party Transaction [Line Items]      
Warrants & Rights Outstanding 0.50%    
Ceded Premiums Written $ 476 441 507
Commissions received 117 119 138
Reinsurance Recoverable on Losses and Loss Expenses 1,372 1,241  
Insurance and reinsurance balances payable 112 40  
BlackRock, Inc. | Related Party      
Related Party Transaction [Line Items]      
Total revenues 12 8 7
Aquiline Capital Partners LLC      
Related Party Transaction [Line Items]      
Investment Company, Financial Commitment to Investee, Future Amount 152    
Other income (expense) (60) (36) (8)
Private equities 400 368  
Starr Technical Risk Agency and Affiliates [Member]      
Related Party Transaction [Line Items]      
Premiums Written, Gross 10 216 618
Ceded Premiums Written 24 115 353
Paid commissions 3 38 122
Commissions received 3 26 79
Losses and loss expenses 24 180 $ 225
Reinsurance Recoverable on Losses and Loss Expenses 328 503  
Insurance and reinsurance balances payable $ 19 $ 44  
v3.25.0.1
Statutory Financial Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statutory Accounting Practices [Line Items]      
Dividends available to be paid $ 8,500    
Minimum statutory capital and surplus required to satisfy regulatory requirements 44,400 $ 41,000  
Approximate increase in statutory capital and surplus resulting from discount of certain A&E liabilities 108 115  
Statutory Accounting Practices, Permitted Practice, Amount 72 71  
PropertyAndCasualtySubsidiaries [Member]      
Statutory Accounting Practices [Line Items]      
Statutory capital and surplus 48,253 45,271  
Statutory net income 11,118 8,699 $ 4,028
LifeSubsidiaries [Member] [Member]      
Statutory Accounting Practices [Line Items]      
Statutory capital and surplus 8,970 7,278  
Statutory net income $ 548 $ 459 $ 1,425
v3.25.0.1
Subsequent Events (Details) - USD ($)
$ in Millions
 2 Months Ended 12 Months Ended
Feb. 27, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Subsequent Event [Line Items]        
Losses and loss expenses   $ 26,022 $ 24,100 $ 22,572
Subsequent Event [Member]        
Subsequent Event [Line Items]        
Losses and loss expenses $ 1,500      
v3.25.0.1
Schedule I (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost [1] $ 154,901  
Fair Value 150,302  
Amount at Which Shown in the Balance Sheet 150,250  
Private equities 14,769 $ 14,078
All Related Party [Member]    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Private equities 400  
Short-term investments    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 5,143  
Fair Value 5,142  
Amount at Which Shown in the Balance Sheet 5,142  
Fixed maturities available for sale    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost [1] 115,013  
Fair Value 110,363  
Amount at Which Shown in the Balance Sheet 110,363  
Fixed maturities available for sale | U.S. Treasury / Agency    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 2,498  
Fair Value 2,341  
Amount at Which Shown in the Balance Sheet 2,341  
Fixed maturities available for sale | Non-U.S.    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 36,288  
Fair Value 35,838  
Amount at Which Shown in the Balance Sheet 35,838  
Fixed maturities available for sale | Corporate and asset-backed securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 45,184  
Fair Value 43,207  
Amount at Which Shown in the Balance Sheet 43,207  
Fixed maturities available for sale | Mortgage-backed securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 29,158  
Fair Value 27,248  
Amount at Which Shown in the Balance Sheet 27,248  
Fixed maturities available for sale | Municipal    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 1,885  
Fair Value 1,729  
Amount at Which Shown in the Balance Sheet 1,729  
Private debt held for investment    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost [1] 2,628  
Fair Value 2,680  
Amount at Which Shown in the Balance Sheet 2,628  
Industrial, miscellaneous, and all others    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 9,151  
Fair Value 9,151  
Amount at Which Shown in the Balance Sheet 9,151  
Private equities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost [2] 14,369  
Fair Value [2] 14,369  
Amount at Which Shown in the Balance Sheet [2] 14,369  
Other investments    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Cost or Amortized Cost 8,597  
Fair Value 8,597  
Amount at Which Shown in the Balance Sheet $ 8,597  
[1] Net of valuation allowance for expected credit losses.
[2] Excludes $400 million of related party investments.
v3.25.0.1
Schedule II (BALANCE SHEETS - Parent Company Only) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets        
Other assets $ 7,503 $ 7,508    
Total assets 246,548 230,682    
Liabilities        
Accounts Payable and Accrued Liabilities 10,192 8,332    
Total liabilities 178,154 166,991    
Stockholders' Equity Attributable to Parent [Abstract]        
Common Shares 235 241    
Common shares in treasury (3,524) (4,400)    
Additional paid-in capital 14,393 15,665    
Retained earnings 61,561 54,810    
Accumulated other comprehensive income (loss) (8,644) (6,809)    
Total Chubb shareholders' equity 64,021 59,507 $ 50,519  
Total liabilities and shareholders’ equity 246,548 230,682    
Parent Company Only        
Assets        
Investments in subsidiaries and affiliates on equity basis 64,141 59,952    
Total investments 64,141 59,952    
Cash 383 77 $ 40 $ 1
Due from subsidiaries and affiliates, net 629 717    
Other assets 13 12    
Total assets 65,166 60,758    
Liabilities        
Affiliated notional cash pooling program 277 594    
Accounts Payable and Accrued Liabilities 868 657    
Total liabilities 1,145 1,251    
Stockholders' Equity Attributable to Parent [Abstract]        
Common Shares 235 241    
Common shares in treasury (3,524) (4,400)    
Additional paid-in capital 14,393 15,665    
Retained earnings 61,561 54,810    
Accumulated other comprehensive income (loss) (8,644) (6,809)    
Total Chubb shareholders' equity 64,021 59,507    
Total liabilities and shareholders’ equity $ 65,166 $ 60,758    
v3.25.0.1
Schedule II Schedule II (STATEMENTS OF OPERATIONS - Parent Company Only) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]      
Equity in net income of subsidiaries and affiliates $ 967 $ 867 $ 1
Total revenues 55,753 49,735 43,097
Administrative and other (income) expense 4,380 4,007 3,395
Integration expenses 39 69 48
Income Tax Expense (Benefit) (1,815) (511) (1,239)
Total expenses 44,298 40,209 36,612
Net income attributable to Chubb 9,272 9,028 5,246
Comprehensive income (loss) attributable to Chubb 7,437 12,404 (3,865)
Chubb limited (Parent Guarantor)      
Condensed Financial Statements, Captions [Line Items]      
Investment income (loss) [1] (24) (21) 83
Equity in net income of subsidiaries and affiliates 9,385 9,065 5,256
Total revenues 9,361 9,044 5,339
Administrative and other (income) expense 74 72 65
Integration expenses 0 0 10
Income Tax Expense (Benefit) (15) 56 (18)
Total expenses 89 16 93
Net income attributable to Chubb 9,272 9,028 5,246
Comprehensive income (loss) attributable to Chubb $ 7,437 $ 12,404 $ (3,865)
[1] Includes net investment income, interest income, and net realized gains (losses).
v3.25.0.1
Schedule II (STATEMENTS OF CASH FLOWS - Parent Company Only) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided by (Used) in Operating Activities, Total $ 16,182 $ 12,632 $ 11,258
Other (1,412) (889) (560)
Net Cash Provided by (Used in) Investing Activities (13,923) (7,648) (5,654)
Dividends paid on Common Shares (1,436) (1,394) (1,375)
Common Shares repurchased (1,801) (2,411) (2,894)
Net cash flows (used for) from financing activities (2,181) (4,489) (5,142)
Effect of foreign currency rate changes on cash and restricted cash (150) (1) (146)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (72) 494 316
Chubb limited (Parent Guarantor)      
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided by (Used) in Operating Activities, Total [1] 1,755 3,273 7,831
Capital redemption (contribution) 2,000 0 (4,046)
Net Cash Provided by (Used in) Investing Activities 2,000 0 (4,046)
Dividends paid on Common Shares (1,436) (1,394) (1,375)
Common Shares repurchased (1,801) (2,411) (2,894)
Repayment of intercompany loans 99 231 279
Net proceeds from (payments to) affiliated notional cash pooling programs [2] (317) 342 245
Net cash flows (used for) from financing activities (3,455) (3,232) (3,745)
Effect of foreign currency rate changes on cash and restricted cash 6 (4) (1)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 306 37 39
Cash – beginning of year 77 40 1
Cash – end of year 383 77 40
Cash dividend paid by Affiliates [1] $ 1,800 $ 3,300 $ 7,700
[1] Includes cash dividends received from subsidiaries of $1.8 billion, $3.3 billion, and $7.7 billion in 2024, 2023, and 2022, respectively.
[2] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 i) for additional information.
v3.25.0.1
Schedule IV (SUPPLEMENTAL INFORMATION CONCERNING REINSURANCE) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]      
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Gross $ 240,794 [1] $ 248,973 $ 215,759
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Ceded 43,626 55,665 50,105
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Assumed 4,109 5,408 7,242
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Net $ 201,277 $ 198,716 $ 172,896
In Force Percentage of Amount 2.00% 3.00% 4.00%
Direct Amount $ 55,148 $ 51,582 $ 46,160
Ceded To Other Companies 10,272 10,159 10,195
Assumed From Other Companies 4,970 4,289 4,395
Net Amount $ 49,846 $ 45,712 $ 40,360
Percentage of Amount Assumed to Net 10.00% 9.00% 11.00%
Property and Casualty [Member]      
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]      
Direct Amount $ 45,179 $ 42,598 $ 39,449
Ceded To Other Companies 9,702 9,549 9,678
Assumed From Other Companies 4,832 4,129 4,242
Net Amount $ 40,309 $ 37,178 $ 34,013
Percentage of Amount Assumed to Net 12.00% 11.00% 12.00%
Accident and Health [Member]      
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]      
Direct Amount $ 6,874 $ 6,580 $ 5,206
Ceded To Other Companies 473 446 411
Assumed From Other Companies 87 99 97
Net Amount $ 6,488 $ 6,233 $ 4,892
Percentage of Amount Assumed to Net 1.00% 2.00% 2.00%
Life [Member]      
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]      
Direct Amount $ 3,095 $ 2,404 $ 1,505
Ceded To Other Companies 97 164 106
Assumed From Other Companies 51 61 56
Net Amount $ 3,049 $ 2,301 $ 1,455
Percentage of Amount Assumed to Net 2.00% 3.00% 4.00%
[1] The reduction in direct amount of life insurance face amount in force in 2024 versus 2023 reflects the non-renewal of certain credit-life business.
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Schedule VI (SUPPLEMENTARY INFORMATION CONCERNING PROPERTY AND CASUALTY OPERATIONS) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Abstract]      
Deferred Policy Acquisition Costs $ 3,687 $ 3,346 $ 2,877
Net Reserves for Unpaid Losses 66,270 62,238 58,661
Unearned Premiums 23,504 22,051 19,713
Net Premiums Earned 43,573 40,314 36,850
Net Investment Income 4,927 4,181 3,233
Current Year Claim and Claim Adjustment Expense 26,997 24,956 23,680
Prior Year Claim and Claim Adjustment Expense (975) (856) (1,108)
Amortization of Deferred Policy Acquisition Costs 8,053 7,391 6,480
Net Paid Losses and Loss Expenses 21,503 21,011 19,537
Net Premiums Written $ 45,142 $ 41,896 $ 38,112