Accrued investment income

1,708

1,299

1,090

1,086

Insurance and reinsurance balances receivable, net of valuation allowance - $47 and $53

13,991

13,379

Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $375 and $367

^[1]

19,109

19,952

Reinsurance recoverable on policy benefits

^[1]

272

280

Deferred policy acquisition costs

7,537

7,152

Value of business acquired

3,617

3,674

Goodwill

19,696

19,686

Other intangible assets

6,709

6,775

Deferred tax assets

1,761

1,741

Prepaid reinsurance premiums

3,241

3,221

Other assets (includes VIE balances of $14 and $33)

5,864

5,573

7,251

7,508

Total assets

234,867

230,682

Liabilities

Unpaid losses and loss expenses

80,341

80,122

Unearned premiums

22,728

22,051

Future policy benefits

14,375

13,888

Policyholders' account balances

611

771

7,560

7,462

Separate account liabilities

5,864

5,573

Insurance and reinsurance balances payable

8,505

8,302

Securities lending payable

1,708

1,299

Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $68 and $18)

8,357

8,332

Deferred tax liabilities

1,543

1,555

Repurchase agreements (includes VIE balances of $1,229 and $1,009)

3,022

2,833

Short-term debt

2,265

1,460

Long-term debt

13,248

13,035

Trust preferred securities

309

308

Total liabilities

170,436

166,991

Commitments and contingencies (refer to Note 12)

Shareholders’ equity

Common Shares (CHF 0.50 par value; 431,451,586 shares issued; 406,033,066 and 405,269,637 shares outstanding)

241

Common Shares in treasury (25,418,520 and 26,181,949 shares)

(4,461)

(4,400)

Additional paid-in capital

15,188

15,665

Retained earnings

56,953

54,810

Accumulated other comprehensive income (loss) (AOCI)

(7,386)

(6,809)

Total Chubb shareholders’ equity

60,535

59,507

Noncontrolling interests (includes VIE balances of $2,943 and $2,705)

3,896

4,184

Total shareholders' equity

64,431

63,691

Total liabilities and shareholders’ equity

$ 234,867

$ 230,682

[1]	Net of valuation allowance for uncollectible reinsurance.

Consolidated Balance Sheets (Parentheticals) (Unaudited) $ in Millions	Mar. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares
Statement of Financial Position [Abstract]
Short-term investments amortized cost	$ 5,108	$ 4,551
Fixed maturities, available-for-sale, valuation allowance	115	156
Fixed maturities, available-for-sale, at amortized cost	113,479	111,128
Private debt held-to-maturity, amortized cost	5	4
Restricted cash	143	172
Premium Receivable, Allowance for Credit Loss	47	53
Valuation allowance for uncollectible reinsurance	$ 375	$ 367
Common Shares, shares issued \| shares	431,451,586	431,451,586
Common Shares, shares outstanding \| shares	406,033,066	405,269,637
Treasury Stock, Common, Shares \| shares	25,418,520	26,181,949
Short-term investments	$ 5,107	$ 4,551
Equity securities	3,769	3,455
Private equities	14,281	14,078
Other Investments	6,216	5,527
Cash, including restricted cash	2,651	2,621
Other Assets	7,251	7,508
Repurchase agreements	3,022	2,833
Noncontrolling interests	3,896	4,184
Variable Interest Entity, Primary Beneficiary
Short-term investments	65	217
Equity securities	1,163	1,078
Private equities	22	21
Other Investments	4,408	3,773
Cash, including restricted cash	127	117
Other Assets	14	33
Other liabilities	68	18
Repurchase agreements	1,229	1,009
Noncontrolling interests	$ 2,943	$ 2,705

Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Net premiums written	$ 12,221	$ 10,710
Increase in unearned premiums	(638)	(568)
Net premiums earned	11,583	10,142
Net investment income	1,391	1,107
Net realized gains (losses)	(101)	(77)
Market risk benefits gains (losses)	21	(115)
Total revenues	12,894	11,057
Expenses
Losses and loss expenses	5,727	5,148
Policy benefits (includes remeasurement gains (losses) of $(19) and $1)	1,180	797
Policy acquisition costs	2,207	1,948
Administrative expenses	1,070	930
Interest expense	178	160
Other (income) expense	(191)	(296)
Amortization of purchased intangibles	80	72
Cigna integration expenses	7	22
Total expenses	10,258	8,781
Income before income tax	2,636	2,276
Income tax expense	342	384
Net Income	2,294	1,892
Net income attributable to noncontrolling interests	151	0
Net income attributable to Chubb	2,143	1,892
Other comprehensive income (loss):
Change in unrealized appreciation (depreciation)	(677)	1,786
Current discount rate on future policy benefits	(53)	(151)
Instrument-specific credit risk on market risk benefits	5	(3)
Cumulative foreign currency translation adjustment	80	(177)
Other, including postretirement benefit liability adjustment	31	(33)
Other comprehensive income (loss), before income tax	(614)	1,422
Income tax (expense) benefit related to OCI items	9	(132)
Other comprehensive income (loss)	(605)	1,290
Comprehensive income	1,689	3,182
Comprehensive income attributable to noncontrolling interests	123	0
Comprehensive income attributable to Chubb	$ 1,566	$ 3,182
Earnings per share
Basic earnings per share attributable to Chubb	$ 5.28	$ 4.57
Diluted earnings per share attributable to Chubb	$ 5.23	$ 4.53

Consolidated Statements Of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock, Common	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest
Noncontrolling interests							$ 0
Balance – beginning of period, net of tax at Dec. 31, 2022		$ 10,346	$ (5,113)	$ 7,166	$ 48,305	$ (10,185)
Noncontrolling Interest, Increase from Business Combination				0
Common Shares repurchased			(428)
Net shares issued under employee share-based compensation plans			200	(211)
Exercise of stock options				(13)
Share-based compensation expense				82
Funding of dividends declared to Retained earnings				(344)
Net income attributable to Chubb	$ 1,892				1,892
Funding of dividends declared from Additional paid-in capital					344
Dividends declared on Common Shares					(344)
Other Comprehensive Income (Loss), Net of Tax	1,290					1,290
Balance – end of period, net of tax at Mar. 31, 2023	52,987	10,346	(5,341)	6,680	50,197	(8,895)
Net income attributable to noncontrolling interests	0						0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest							0
Noncontrolling interests							0
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value							0
Total shareholders' equity	52,987
Noncontrolling interests	4,184						4,184
Total shareholders' equity	63,691
Balance – beginning of period, net of tax at Dec. 31, 2023	59,507	241	(4,400)	15,665	54,810	(6,809)
Noncontrolling Interest, Increase from Business Combination				(31)
Common Shares repurchased			(316)
Net shares issued under employee share-based compensation plans			255	(159)
Exercise of stock options				(19)
Share-based compensation expense				82
Funding of dividends declared to Retained earnings				(350)
Net income attributable to Chubb	2,143				2,143
Funding of dividends declared from Additional paid-in capital					350
Dividends declared on Common Shares					(350)
Other Comprehensive Income (Loss), Net of Tax	(605)					(577)
Balance – end of period, net of tax at Mar. 31, 2024	60,535	$ 241	$ (4,461)	$ 15,188	$ 56,953	$ (7,386)
Net income attributable to noncontrolling interests	151						151
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest							(28)
Noncontrolling interests	3,896						3,896
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value							$ (411)
Total shareholders' equity	$ 64,431

Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net income	$ 2,294	$ 1,892
Adjustments to reconcile net income to net cash flows from operating activities
Net realized (gains) losses	101	77
Market risk benefits (gains) losses	(21)	115
Amortization of premiums/discounts on fixed maturities	(80)	(14)
Amortization of purchased intangibles	80	72
Equity in net income of partially-owned entities	(184)	(340)
Deferred income taxes	(24)	9
Unpaid losses and loss expenses	175	(14)
Unearned premiums	633	591
Future policy benefits	445	136
Insurance and reinsurance balances payable	155	(9)
Accounts payable, accrued expenses, and other liabilities	(267)	(390)
Income taxes	257	128
Insurance and reinsurance balances receivable	(586)	(402)
Reinsurance recoverable	852	622
Deferred policy acquisition costs	(390)	(254)
Net purchases of investments by consolidated investment products	(404)	0
Other	184	32
Net cash flows from operating activities	3,220	2,251
Cash flows from investing activities
Purchases of fixed maturities available-for-sale	(8,617)	(7,169)
Purchases of fixed maturities held-to-maturity	0	(88)
Purchases of equity securities	(752)	(135)
Sales of fixed maturities available-for-sale	4,368	3,854
Sales of equity securities	520	43
Maturities and redemptions of fixed maturities available-for-sale	2,149	1,541
Maturities and redemptions of fixed maturities held-to-maturity	0	472
Net change in short-term investments	(708)	1,256
Net derivative instruments settlements	(17)	(38)
Private equity contributions	(248)	(384)
Private equity distributions	177	273
Acquisition of subsidiaries	(236)	(23)
Other	(382)	(172)
Net cash flows used for investing activities	(3,746)	(570)
Cash flows from financing activities
Proceeds from issuance of long-term debt	996	0
Dividends paid on Common Shares	(349)	(345)
Common Shares repurchased	(404)	(545)
Proceeds from issuance of repurchase agreements	1,062	1,308
Repayment of long-term debt	0	475
Repayment of repurchase agreements	(984)	(1,307)
Proceeds from share-based compensation plans	163	55
Policyholder contract deposits	336	95
Policyholder contract withdrawals	(245)	(101)
Third-party capital invested into consolidated investment products	509	0
Third-party capital distributed by consolidated investment products	(413)	0
Other	(109)	(109)
Net cash flows from (used for) financing activities	562	(1,424)
Effect of foreign currency rate changes on cash and restricted cash	(6)	(2)
Net increase in cash and restricted cash	30	255
Cash and restricted cash - beginning of period	2,621	2,127
Cash and restricted cash - end of period	2,651	2,382
Supplemental cash flow information
Taxes paid	89	219
Interest paid	$ 112	$ 99

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	$ (19)	$ 1

General and significant accounting policies	3 Months Ended
General and significant accounting policies	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General and significant accounting policies a) Basis of presentation Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 17 for additional information. The interim unaudited consolidated financial statements include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, 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 March 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. 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 results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2023 Form 10-K. b) Goodwill During the three months ended March 31, 2024, Goodwill increased $10 million, primarily reflecting the impact of foreign exchange. c) New Accounting Pronouncements Accounting guidance not yet adopted 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. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. We are currently evaluating the impact of this disclosure-only requirement. 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 annual periods beginning after December 15, 2024. Prospective application is required, with retrospective application permitted. We are currently evaluating the impact of this disclosure-only requirement.

Acquisitions

3 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

Acquisitions

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 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. Refer to Note 2 to the Consolidated Financial Statements in our 2023 Form 10-K for additional information.

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 previously paid prior to 2024, and $236 million was paid in 2024. Our aggregate ownership interest in Huatai Group was approximately 85.5 percent as of March 31, 2024. Chubb has outstanding agreements for approximately 0.6 percent of incremental ownership interests, pending completion of certain closing conditions. We have paid deposits of $12 million related to these outstanding agreements, with approximately $24 million remaining to be paid upon closing, based on current exchange rates.

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.


	Three Months Ended
Pro forma:	March 31
(in millions of U.S. dollars)	2023
Net premiums earned	$	10,553
Total revenues	$	11,529
Net income	$	1,900
Net income attributable to Chubb	$	1,890

Investments

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

a) Fixed maturities


March 31, 2024	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency	$	3,058	$	—	$	5	$	(164)	$	2,899
Non-U.S.	36,962		(41)		605		(1,381)		36,145
Corporate and asset-backed securities	45,567		(73)		306		(2,353)		43,447
Mortgage-backed securities	25,696		(1)		89		(2,029)		23,755
Municipal	2,196		—		7		(160)		2,043
	$	113,479	$	(115)	$	1,012	$	(6,087)	$	108,289


December 31, 2023	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency	$	3,721	$	—	$	13	$	(144)	$	3,590
Non-U.S.	35,918		(49)		592		(1,297)		35,164
Corporate and asset-backed securities	44,695		(104)		390		(2,151)		42,830
Mortgage-backed securities	23,720		(3)		143		(1,802)		22,058
Municipal	3,074		—		10		(155)		2,929
	$	111,128	$	(156)	$	1,148	$	(5,549)	$	106,571

The following table presents fixed maturities by contractual maturity:


	March 31, 2024				December 31, 2023
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available-for-sale
Due in 1 year or less	$	4,521	$	4,521	$	4,729	$	4,729
Due after 1 year through 5 years	33,533		33,533		33,573		33,573
Due after 5 years through 10 years	28,198		28,198		28,480		28,480
Due after 10 years	18,282		18,282		17,731		17,731
	84,534		84,534		84,513		84,513
Mortgage-backed securities	23,755		23,755		22,058		22,058
	$	108,289	$	108,289	$	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 March 31, 2024, and December 31, 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. Refer to Note 1 f) in the 2023 Form 10-K for further information on factors considered in the evaluation of expected credit losses.

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


	0 – 12 Months				Over 12 Months				Total
March 31, 2024	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency	$	632	$	(13)	$	2,007	$	(151)	$	2,639	$	(164)
Non-U.S.	3,793		(64)		15,928		(1,079)		19,721		(1,143)
Corporate and asset-backed securities	4,675		(71)		19,646		(1,487)		24,321		(1,558)
Mortgage-backed securities	4,907		(82)		13,783		(1,919)		18,690		(2,001)
Municipal	443		(12)		1,218		(148)		1,661		(160)
Total AFS fixed maturities	$	14,450	$	(242)	$	52,582	$	(4,784)	$	67,032	$	(5,026)


	0 – 12 Months				Over 12 Months				Total
December 31, 2023	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. Treasury / Agency	$	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 securities	2,866		(51)		20,334		(1,194)		23,200		(1,245)
Mortgage-backed securities	1,659		(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)

At March 31, 2024, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $543 million necessary due to limitations on the utilization of these losses. As part of evaluating whether it was more likely than not that we could realize these losses, we considered realized gains, carryback ability and available tax planning strategies.

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	156	$	169


Provision for expected credit loss	31		59

Write-offs charged against the expected credit loss	(5)		(2)

Recovery of expected credit loss	(67)		(58)
Valuation allowance for expected credit losses - end of period	$	115	$	168
Held-to-maturity
Valuation allowance for expected credit losses - beginning of period	$	—	$	34





Recovery of expected credit loss	—		(1)
Valuation allowance for expected credit losses - end of period	$	—	$	33
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	4	$	—
Provision for expected credit loss	1		—
Valuation allowance for expected credit losses - end of period	$	5	$	—

c) Net realized gains (losses)

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Fixed maturities:



Gross realized gains	$	16	$	2
Gross realized losses	(141)		(159)
Other investments - Fixed maturities	168		—
Net (provision for) recovery of expected credit losses	40		2
Impairment (1)	(34)		(25)
Total fixed maturities	49		(180)
Equity securities	3		11

Private equities (less than 3 percent ownership)	31		15
Foreign exchange	(131)		131
Investment and embedded derivative instruments	(43)		(46)
Other derivative instruments	(2)		(1)
Other	(8)		(7)
Net realized gains (losses) (pre-tax)	$	(101)	$	(77)

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

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:


									Three Months Ended
									March 31
	2024								2023
(in millions of U.S. dollars)	Equity Securities		Other Investments		Private Equities		Total		Equity Securities		Private Equities		Total
Net gains (losses) recognized during the period	$	3	$	168	$	31	$	202	$	11	$	15	$	26
Less: Net gains (losses) recognized from sales of securities	(3)		—		—		(3)		(5)		—		(5)
Unrealized gains (losses) recognized for securities still held at reporting date	$	6	$	168	$	31	$	205	$	16	$	15	$	31

d) Private equities

Private equities include investment funds and limited partnerships measured at fair value using net asset value (NAV) as a practical expedient. The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments for private equities:


	Expected Liquidation Period of Underlying Assets	March 31, 2024				December 31, 2023
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,289	$	341	$	1,241	$	364
Real assets	2 to 13 Years	2,095		424		2,137		445
Distressed	2 to 8 Years	1,218		928		1,206		936
Private credit	3 to 8 Years	328		296		331		298
Traditional	2 to 14 Years	9,052		3,916		8,873		4,167
Vintage	1 to 3 Years	67		—		72		—
Investment funds	Not Applicable	232		—		218		—
		$	14,281	$	5,905	$	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 Category:						Consists of investments in private equity funds:
Financial						targeting financial services companies, such as financial institutions and insurance services worldwide
Real assets						targeting investments related to hard physical assets, such as real estate, infrastructure, and natural resources
Distressed						targeting distressed corporate debt/credit and equity opportunities in the U.S.
Private credit						targeting privately originated corporate debt investments, including senior secured loans and subordinated bonds
Traditional						employing traditional private equity investment strategies, such as buyout and growth equity globally
Vintage						funds where the initial fund term has expired

Investment funds employ various investment strategies, such as long/short equity and arbitrage/distressed. Included in this category are investments for which Chubb has the option to redeem at agreed upon value as described in each investment fund’s subscription agreement. Depending on the terms of the various subscription agreements, investment fund investments may be redeemed monthly, quarterly, semi-annually, or annually. If Chubb wishes to redeem an investment fund investment, it must first determine if the investment fund is still in a lock-up period (a time when Chubb cannot redeem its investment so that the investment fund manager has time to build the portfolio). If the investment fund is no longer in its lock-up period, Chubb must then notify the investment fund manager of its intention to redeem by the notification date prescribed by the subscription agreement. Subsequent to notification, the investment fund can redeem Chubb’s investment within several months of the notification. Notice periods for redemption of the investment funds are up to 270 days. Chubb can redeem its investment funds without consent from the investment fund managers.

e) Restricted assets

Chubb is required to maintain assets on deposit with various regulatory authorities to support its insurance and reinsurance operations. These requirements are generally promulgated in the statutory regulations of the individual jurisdictions. The assets on deposit are available to settle insurance and reinsurance liabilities. Chubb is also required to restrict assets pledged under repurchase agreements, which represent Chubb's agreement to sell securities and repurchase them at a future date for a predetermined price. We use trust funds in certain large reinsurance transactions where the trust funds are set up for the benefit of the ceding companies and generally take the place of letter of credit (LOC) requirements. We have investments in segregated portfolios primarily to provide collateral or guarantees for LOC and derivative transactions. Included in restricted assets at March

31, 2024, and December 31, 2023, are investments, primarily fixed maturities, totaling $18,568 million and $18,242 million, respectively, and cash of $143 million and $172 million, respectively.

The following table presents the components of restricted assets:


	March 31		December 31
(in millions of U.S. dollars)	2024		2023
Trust funds	$	8,626	$	8,482
Deposits with U.S. regulatory authorities	2,488		2,544
Deposits with non-U.S. regulatory authorities	3,595		3,584
Assets pledged under repurchase agreements	3,097		2,924
Other pledged assets	905		880
Total	$	18,711	$	18,414

f) Variable interest entities (VIEs)

Consolidated VIEs

Certain subsidiaries of Huatai Group are the investment manager of, and maintain investments in, sponsored investment products that are considered Variable interest entities. We have determined that we are the primary beneficiary and consolidate these investment products if we hold at least 10 percent ownership. Refer to Note 1 g) of our 2023 Form 10-K for further information on our consolidation criteria. The assets of these VIEs are not available to our creditors, and the investors in these VIEs have no recourse to Chubb in excess of the assets contained within the VIEs. Our economic exposures are limited to our investments based on our ownership interest in these VIEs. Our total exposure to these consolidated investment products represents the value of our economic ownership interest.

Unconsolidated VIEs

We do not consolidate sponsored investment products where we have determined that we are not the primary beneficiary. The carrying value of these investments at March 31, 2024, and December 31, 2023, was $140 million and $153 million, respectively, and our maximum risk of loss approximates the carrying amount. These investments are classified within Equity securities.

Fair value measurements

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair value measurements

a) Fair value hierarchy

Fair value of financial assets and financial liabilities is estimated based on the framework established in the fair value accounting guidance. The guidance defines fair value as the price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants and establishes a three-level valuation hierarchy based on the reliability of the inputs. The fair value hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data.

The three levels of the hierarchy are as follows:

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

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

interest rates and yield curves, quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active; and

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

would use in pricing an asset or liability.

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

We use pricing services to obtain fair value measurements for the majority of our investment securities. Based on management’s understanding of the methodologies used, these pricing services only produce an estimate of fair value if there is observable market information that would allow them to make a fair value estimate. Based on our understanding of the market inputs used

by the pricing services, all applicable investments have been valued in accordance with U.S. GAAP. We do not adjust prices obtained from pricing services. The following is a description of the valuation techniques and inputs used to determine fair values for financial instruments carried at fair value, as well as the general classification of such financial instruments pursuant to the valuation hierarchy.

Fixed maturities

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

Equity securities

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

Short-term investments

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

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 reporting under U.S. GAAP. These assets comprise mutual funds, classified within Level 1 in the valuation hierarchy on the same basis as other equity securities traded in active markets. Other investments principally include fixed maturities carried at fair value with changes in fair value recorded through the Consolidated statements of operations. These fixed maturities principally relate to the acquired Huatai investment portfolio 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. The fair value of cross-currency swaps and interest rate swaps is based on market valuations and is classified within Level 2. Investment derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Derivatives designated as hedging instruments

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

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 based on unobservable inputs are classified within Level 3. Other derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Separate account assets

Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. Separate account assets 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


March 31, 2024	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency	$	2,251	$	648	$	—	$	2,899
Non-U.S.	—		35,427		718		36,145
Corporate and asset-backed securities	—		40,789		2,658		43,447
Mortgage-backed securities	—		23,748		7		23,755
Municipal	—		2,043		—		2,043
	2,251		102,655		3,383		108,289

Equity securities	3,668		—		101		3,769
Short-term investments	3,292		1,810		5		5,107
Other investments (1)	583		4,897		—		5,480
Securities lending collateral	—		1,708		—		1,708
Investment derivatives	28		—		—		28
Derivatives designated as hedging instruments	—		149		—		149
Other derivative instruments	1		—		—		1
Separate account assets	5,775		89		—		5,864
Total assets measured at fair value (1)(2)	$	15,598	$	111,308	$	3,489	$	130,395
Liabilities:
Investment derivatives	$	144	$	—	$	—	$	144
Derivatives designated as hedging instruments	—		110		—		110
Other derivative instruments	22		6		—		28
Market risk benefits (3)	—		—		611		611
Total liabilities measured at fair value	$	166	$	116	$	611	$	893

(1)Excluded from the table above are other investments of $736 million, principally policy loans at March 31, 2024, measured using NAV as a practical expedient.

(2)Excluded from the table above are Private equities of $14,281 million at March 31, 2024, measured using NAV as a practical expedient.

(3)Refer to Note 10 for additional information on Market risk benefits.


December 31, 2023	Level 1		Level 2		Level 3		Total
(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 securities	3,368		—		87		3,455
Short-term investments	1,915		2,633		3		4,551
Other investments (1)	589		4,236		—		4,825
Securities lending collateral	—		1,299		—		1,299
Investment derivatives	54		—		—		54
Derivatives designated as hedging instruments	—		136		—		136

Separate account assets	5,482		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 instruments	37		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 at December 31, 2023, measured using NAV as a practical expedient.

(2)Excluded from the table above are Private equities of $14,078 million at December 31, 2023, measured using NAV as a practical expedient.

(3)Refer to Note 10 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).



Three Months Ended March 31, 2024 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities	Short-term investments
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	692	$	2,622	$	7		$	87	$	3
Transfers into Level 3	1		1		—			—		—
Transfers out of Level 3	(4)		(3)		—			—		—
Change in Net Unrealized Gains (Losses) in OCI	14		6		—			—		—
Net Realized Gains (Losses)	—		—		—			(3)		—
Purchases	72		143		—			18		4
Sales	(20)		(20)		—			(1)		—
Settlements	(37)		(91)		—			—		(2)

Balance, end of period	$	718	$	2,658	$	7		$	101	$	5
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	—	$	—		$	(2)	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date	$	13	$	6	$	—		$	—	$	—



Three Months Ended March 31, 2023 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	564		$	2,449		$	11	$	90	$	3

Transfers out of Level 3		—			(11)			—		—		—
Change in Net Unrealized Gains (Losses) in OCI		(4)			(2)			—		—		(1)

Net Realized Gains (Losses)		—			2			—		(4)		—

Purchases		43			205			—		7		5
Sales		(31)			(20)			—		(5)		—
Settlements		(11)			(79)			(1)		—		—

Balance, end of period		$	561		$	2,544		$	10	$	88	$	7
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	4		$	—	$	(3)	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	(6)		$	(5)		$	—	$	—	$	(1)

Excluded from the tables above is the reconciliation of Market risk benefits, which are presented in Note 10 Market risk benefits. Refer to Note 10 for additional information.

b) Financial instruments disclosed, but not measured, at fair value

Chubb uses various financial instruments in the normal course of its business. Our insurance contracts are excluded from fair value of financial instruments accounting guidance, and therefore, are not included in the amounts discussed below.

The carrying values of cash, other assets, other liabilities, and other financial instruments not included below approximated their fair values. Refer to the 2023 Form 10-K for information on the fair value methods and assumptions for private debt held-for-investment, short-term and long-term debt, repurchase agreements, and trust-preferred securities.

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


March 31, 2024	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,733	$	2,733	$	2,708
Total assets	$	—	$	—	$	2,733	$	2,733	$	2,708
Liabilities:
Repurchase agreements	$	—	$	3,022	$	—	$	3,022	$	3,022
Short-term debt	—		2,228		—		2,228		2,265
Long-term debt	—		11,930		—		11,930		13,248
Trust preferred securities	—		365		—		365		309
Total liabilities	$	—	$	17,545	$	—	$	17,545	$	18,844


December 31, 2023	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,560	$	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
Trust preferred securities	—		365		—		365		308
Total liabilities	$	—	$	16,553	$	—	$	16,553	$	17,636

Deferred Policy Acquisition Costs Disclosures [Abstract]

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

+ References + Details

Reinsurance

3 Months Ended

Mar. 31, 2024

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance


	March 31, 2024				December 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	$	17,163	$	290	$	17,884	$	285
Reinsurance recoverable on paid losses and loss expenses	1,946		85		2,068		82
Reinsurance recoverable on losses and loss expenses	$	19,109	$	375	$	19,952	$	367
Reinsurance recoverable on policy benefits	$	272	$	—	$	280	$	—

(1)Net of valuation allowance for uncollectible reinsurance.

The decrease in Reinsurance recoverable on losses and loss expenses was primarily due to a seasonal decrease in crop recoverables and a commutation in connection with a large structured transaction during the quarter.

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Valuation allowance for uncollectible reinsurance - beginning of period	$	367	$	351
Provision for uncollectible reinsurance	8		5
Write-offs charged against the valuation allowance	—		(5)


Valuation allowance for uncollectible reinsurance - end of period	$	375	$	351

For additional information, refer to Note 1 e) to the Consolidated Financial Statements of our 2023 Form 10-K.

Deferred acquisition costs

3 Months Ended

Mar. 31, 2024

Deferred Policy Acquisition Costs

Deferred acquisition costs

Deferred acquisition costs comprise capitalized costs on short-duration contracts of $3,510 million and $3,003 million and long-duration contracts of $4,027 million and $3,293 million at March 31, 2024, and 2023, respectively.

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


	Three Months Ended March 31, 2024

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	402	$	674	$	534	$	1,301	$	274	$	3,185

Capitalizations	47		33		85		158		16		339
Amortization expense	(28)		(20)		(8)		(41)		(7)		(104)

Other (including foreign exchange)	(8)		1		(3)		3		(2)		(9)
Balance - end of period	$	413	$	688	$	608	$	1,421	$	281	$	3,411
Overseas General Insurance segment excluded from table											616
Total deferred acquisition costs on long-duration contracts											$	4,027


	Three Months Ended March 31, 2023

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	324	$	639	$	392	$	891	$	268	$	2,514

Capitalizations	42		25		28		123		4		222
Amortization expense	(24)		(19)		(5)		(30)		(6)		(84)

Other (including foreign exchange)	7		(1)		9		(15)		(1)		(1)
Balance - end of period	$	349	$	644	$	424	$	969	$	265	$	2,651
Overseas General Insurance segment excluded from table											642
Total deferred acquisition costs on long-duration contracts											$	3,293

Unpaid losses and loss expenses

3 Months Ended

Mar. 31, 2024

Liability for Claims and Claims Adjustment Expense [Abstract]

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

Unpaid losses and loss expenses

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023

Gross unpaid losses and loss expenses – beginning of period	$	80,122	$	75,747
Reinsurance recoverable on unpaid losses – beginning of period (1)	(17,884)		(17,086)
Net unpaid losses and loss expenses – beginning of period	62,238		58,661
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	5,980		5,336
Prior years (2)	(253)		(188)
Total	5,727		5,148
Net losses and loss expenses paid in respect of losses occurring in:
Current year	767		805
Prior years	4,055		3,911
Total	4,822		4,716

Foreign currency revaluation and other	35		(196)
Net unpaid losses and loss expenses – end of period	63,178		58,897
Reinsurance recoverable on unpaid losses (1)	17,163		16,520
Gross unpaid losses and loss expenses – end of period	$	80,341	$	75,417

(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 $46 million and $(8) million for the three months ended March 31, 2024 and 2023, respectively.

Net unpaid losses and loss expenses increased $940 million for the three months ended March 31, 2024, principally reflecting underlying exposure growth and the impact of a reinsurance commutation in connection with a large structured transaction during the quarter, partially offset by the impact of favorable prior period development and crop activity.

Prior Period Development

Prior period development (PPD) arises from changes to loss estimates recognized in the current year that relate to loss events that occurred in previous calendar years and excludes the effect of losses from the development of earned premium from previous accident years. Long-tail lines include lines such as workers' compensation, general liability, and financial lines; while short-tail lines include lines such as most property lines, energy, personal accident, and agriculture. The following table summarizes (favorable) and adverse PPD by segment:


	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail		Short-tail		Total
2024
North America Commercial P&C Insurance	$	96	$	(144)	$	(48)
North America Personal P&C Insurance	—		(52)		(52)
North America Agricultural Insurance	—		(28)		(28)
Overseas General Insurance	(1)		(88)		(89)
Global Reinsurance	—		1		1
Corporate	9		—		9
Total	$	104	$	(311)	$	(207)
2023
North America Commercial P&C Insurance	$	9	$	(81)	$	(72)
North America Personal P&C Insurance	—		17		17
North America Agricultural Insurance	—		—		—
Overseas General Insurance	—		(143)		(143)
Global Reinsurance	—		(8)		(8)
Corporate	10		—		10
Total	$	19	$	(215)	$	(196)

Significant prior period movements by segment, principally driven by reserve reviews completed during each respective period, are discussed in more detail below. The remaining net development for long-tail lines and short-tail business for each segment and Corporate comprises numerous favorable and adverse movements across a number of lines and accident years, none of which is significant individually or in the aggregate.

North America Commercial P&C Insurance. Net favorable development for the three months ended March 31, 2024, included $74 million in surety lines and $62 million in property and marine lines due to lower-than-expected loss development. The favorable development was partially offset by net adverse development of $102 million in commercial excess and umbrella lines, driven by higher-than-expected loss development.

Net favorable development for the three months ended March 31, 2023, was $72 million favorable with $81 million favorable in short-tail lines and $9 million adverse in long-tail lines. The short tail development was primarily in surety and A&H, partially offset by adverse development in property and marine due to the net impact of positive development from Hurricane Ian and negative development from Winter Storm Elliott. The long-tail development was the net of favorable developments in specialty casualty and workers comp due to lower than expected paid and reported loss activity offset by adverse development in general liability and certain financial lines due to higher-than-expected development.

Overseas General Insurance. Net favorable development for the three months ended March 31, 2024, was $89 million, which included $58 million in property lines driven by favorable development across all regions, primarily in accident years 2020 through 2023.

Net favorable development for the three months ended March 31, 2023 included $85 million in property lines, driven by lower-than-expected catastrophe loss development activity of $43 million in accident year 2022, and non-catastrophe loss emergence in Continental Europe and the U.K.

Future policy benefits

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


Present Value of Expected Net Premiums	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,590	$	3,950	$	10,432	$	64	$	16,036
Beginning balance at original discount rate	1,992		3,945		10,692		64		16,693
Effect of changes in cash flow assumptions	6		70		109		—		185
Effect of actual variances from expected experience	(1)		22		(37)		—		(16)
Adjusted beginning of period balance	1,997		4,037		10,764		64		16,862

Issuances	65		295		697		2		1,059
Interest accrual	14		27		133		—		174
Net premiums collected (1)	(57)		(310)		(363)		(7)		(737)

Other (including foreign exchange)	(5)		(4)		82		—		73
Ending balance at original discount rate	2,014		4,045		11,313		59		17,431
Effect of changes in discount rate assumptions	(407)		18		(295)		—		(684)
Balance – end of period	$	1,607	$	4,063	$	11,018	$	59	$	16,747

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


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,254	$	10,063	$	14,650	$	495	$	27,462
Beginning balance at original discount rate	2,749		9,991		15,071		492		28,303
Effect of changes in cash flow assumptions	8		86		100		—		194
Effect of actual variances from expected experience	3		27		(36)		—		(6)
Adjusted beginning of period balance	2,760		10,104		15,135		492		28,491

Issuances	65		295		697		2		1,059
Interest accrual	19		74		164		3		260
Benefits payments	(59)		(87)		(398)		(6)		(550)

Other (including foreign exchange)	30		(2)		114		21		163
Ending balance at original discount rate	2,815		10,384		15,712		512		29,423
Effect of changes in discount rate assumptions	(516)		184		(487)		18		(801)
Balance – end of period	$	2,299	$	10,568	$	15,225	$	530	$	28,622


Liability for Future Policy Benefits, Life Insurance Segment	March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	692	$	6,505	$	4,207	$	471	$	11,875
Deferred profit liability	254		904		174		19		1,351
Net liability for future policy benefits, before reinsurance recoverable	946		7,409		4,381		490		13,226
Less: Reinsurance recoverable on future policy benefits	107		45		113		1		266
Net liability for future policy benefits, after reinsurance recoverable	$	839	$	7,364	$	4,268	$	489	$	12,960
Weighted average duration (years)	10.2		25.6		10.1		15.1		19.3


Present Value of Expected Net Premiums	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,806	$	2,308	$	10,711	$	42	$	14,867
Beginning balance at original discount rate	1,867		2,361		11,258		43		15,529
Effect of changes in cash flow assumptions	17		(1)		(786)		1		(769)
Effect of actual variances from expected experience	(6)		(8)		(89)		(1)		(104)
Adjusted beginning of period balance	1,878		2,352		10,383		43		14,656

Issuances	36		69		288		1		394
Interest accrual	28		18		125		—		171
Net premiums collected (1)	(44)		(82)		(327)		(6)		(459)


Other (including foreign exchange)	35		8		(139)		1		(95)
Ending balance at original discount rate	1,933		2,365		10,330		39		14,667
Effect of changes in discount rate assumptions	(48)		(8)		(263)		—		(319)
Balance – end of period	$	1,885	$	2,357	$	10,067	$	39	$	14,348

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


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,321	$	5,696	$	15,038	$	269	$	23,324
Beginning balance at original discount rate	2,447		5,874		15,855		280		24,456
Effect of changes in cash flow assumptions	20		(1)		(798)		3		(776)
Effect of actual variances from expected experience	(3)		(7)		(87)		(1)		(98)
Adjusted beginning of period balance	2,464		5,866		14,970		282		23,582

Issuances	36		69		288		1		394
Interest accrual	32		52		156		2		242
Benefit payments	(46)		(65)		(362)		(3)		(476)

Other (including foreign exchange)	72		28		(153)		(14)		(67)
Ending balance at original discount rate	2,558		5,950		14,899		268		23,675
Effect of changes in discount rate assumptions	(118)		(42)		(463)		—		(623)
Balance – end of period	$	2,440	$	5,908	$	14,436	$	268	$	23,052


Liability for Future Policy Benefits, Life Insurance Segment	March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	555	$	3,551	$	4,369	$	229	$	8,704
Deferred profit liability	223		581		135		13		952
Net liability for future policy benefits, before reinsurance recoverable	778		4,132		4,504		242		9,656
Less: Reinsurance recoverable on future policy benefits	105		33		112		—		250
Net liability for future policy benefits, after reinsurance recoverable	$	673	$	4,099	$	4,392	$	242	$	9,406
Weighted average duration (years)	9.4		25.3		10.7		14.5		17.7

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


	March 31
(in millions of U.S. dollars)	2024		2023
Net liability for future policy benefits, Life Insurance segment	$	11,875	$	8,704
Other (1)	1,149		1,126
Deferred profit liability	1,351		952
Liability for future policy benefits, per consolidated balance sheet	$	14,375	$	10,782

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

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


	March 31		March 31
(in millions of U.S. dollars)	2024		2023

Term Life
Undiscounted expected future benefit payments	$	4,358	$	4,041
Undiscounted expected future gross premiums	7,291		6,452
Discounted expected future benefit payments	2,299		2,440
Discounted expected future gross premiums	3,909		3,773
Whole Life
Undiscounted expected future benefit payments	24,834		16,446
Undiscounted expected future gross premiums	9,593		6,895
Discounted expected future benefit payments	10,568		5,908
Discounted expected future gross premiums	7,774		5,398
A&H
Undiscounted expected future benefit payments	26,475		23,186
Undiscounted expected future gross premiums	39,002		33,809
Discounted expected future benefit payments	15,225		14,436
Discounted expected future gross premiums	22,975		20,766
Other
Undiscounted expected future benefit payments	901		342
Undiscounted expected future gross premiums	94		97
Discounted expected future benefit payments	530		268
Discounted expected future gross premiums	$	83	$	87

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 Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2024		2023		2024		2023
Life Insurance
Term Life	$	167	$	160	$	5	$	4

Whole Life	530		230		47		34
A&H	753		733		31		31
Other	20		17		3		2
Total	$	1,470	$	1,140	$	86	$	71

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


	Interest Accretion Rate				Current Discount Rate

	March 31				March 31
	2024		2023		2024		2023
Life Insurance
Term Life	2.9	%	2.8	%	5.7	%	5.7	%

Whole Life	3.2	%	4.0	%	4.5	%	5.2	%
A&H	3.7	%	3.8	%	6.3	%	6.2	%
Other	2.6	%	3.8	%	3.8	%	4.8	%

Future policy benefits

3 Months Ended

Mar. 31, 2024

Liability for Future Policy Benefits Activity [Abstract]

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

Unpaid losses and loss expenses

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023

Gross unpaid losses and loss expenses – beginning of period	$	80,122	$	75,747
Reinsurance recoverable on unpaid losses – beginning of period (1)	(17,884)		(17,086)
Net unpaid losses and loss expenses – beginning of period	62,238		58,661
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	5,980		5,336
Prior years (2)	(253)		(188)
Total	5,727		5,148
Net losses and loss expenses paid in respect of losses occurring in:
Current year	767		805
Prior years	4,055		3,911
Total	4,822		4,716

Foreign currency revaluation and other	35		(196)
Net unpaid losses and loss expenses – end of period	63,178		58,897
Reinsurance recoverable on unpaid losses (1)	17,163		16,520
Gross unpaid losses and loss expenses – end of period	$	80,341	$	75,417

(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 $46 million and $(8) million for the three months ended March 31, 2024 and 2023, respectively.

Net unpaid losses and loss expenses increased $940 million for the three months ended March 31, 2024, principally reflecting underlying exposure growth and the impact of a reinsurance commutation in connection with a large structured transaction during the quarter, partially offset by the impact of favorable prior period development and crop activity.

Prior Period Development

Prior period development (PPD) arises from changes to loss estimates recognized in the current year that relate to loss events that occurred in previous calendar years and excludes the effect of losses from the development of earned premium from previous accident years. Long-tail lines include lines such as workers' compensation, general liability, and financial lines; while short-tail lines include lines such as most property lines, energy, personal accident, and agriculture. The following table summarizes (favorable) and adverse PPD by segment:


	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail		Short-tail		Total
2024
North America Commercial P&C Insurance	$	96	$	(144)	$	(48)
North America Personal P&C Insurance	—		(52)		(52)
North America Agricultural Insurance	—		(28)		(28)
Overseas General Insurance	(1)		(88)		(89)
Global Reinsurance	—		1		1
Corporate	9		—		9
Total	$	104	$	(311)	$	(207)
2023
North America Commercial P&C Insurance	$	9	$	(81)	$	(72)
North America Personal P&C Insurance	—		17		17
North America Agricultural Insurance	—		—		—
Overseas General Insurance	—		(143)		(143)
Global Reinsurance	—		(8)		(8)
Corporate	10		—		10
Total	$	19	$	(215)	$	(196)

Significant prior period movements by segment, principally driven by reserve reviews completed during each respective period, are discussed in more detail below. The remaining net development for long-tail lines and short-tail business for each segment and Corporate comprises numerous favorable and adverse movements across a number of lines and accident years, none of which is significant individually or in the aggregate.

North America Commercial P&C Insurance. Net favorable development for the three months ended March 31, 2024, included $74 million in surety lines and $62 million in property and marine lines due to lower-than-expected loss development. The favorable development was partially offset by net adverse development of $102 million in commercial excess and umbrella lines, driven by higher-than-expected loss development.

Net favorable development for the three months ended March 31, 2023, was $72 million favorable with $81 million favorable in short-tail lines and $9 million adverse in long-tail lines. The short tail development was primarily in surety and A&H, partially offset by adverse development in property and marine due to the net impact of positive development from Hurricane Ian and negative development from Winter Storm Elliott. The long-tail development was the net of favorable developments in specialty casualty and workers comp due to lower than expected paid and reported loss activity offset by adverse development in general liability and certain financial lines due to higher-than-expected development.

Overseas General Insurance. Net favorable development for the three months ended March 31, 2024, was $89 million, which included $58 million in property lines driven by favorable development across all regions, primarily in accident years 2020 through 2023.

Net favorable development for the three months ended March 31, 2023 included $85 million in property lines, driven by lower-than-expected catastrophe loss development activity of $43 million in accident year 2022, and non-catastrophe loss emergence in Continental Europe and the U.K.

Future policy benefits

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


Present Value of Expected Net Premiums	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,590	$	3,950	$	10,432	$	64	$	16,036
Beginning balance at original discount rate	1,992		3,945		10,692		64		16,693
Effect of changes in cash flow assumptions	6		70		109		—		185
Effect of actual variances from expected experience	(1)		22		(37)		—		(16)
Adjusted beginning of period balance	1,997		4,037		10,764		64		16,862

Issuances	65		295		697		2		1,059
Interest accrual	14		27		133		—		174
Net premiums collected (1)	(57)		(310)		(363)		(7)		(737)

Other (including foreign exchange)	(5)		(4)		82		—		73
Ending balance at original discount rate	2,014		4,045		11,313		59		17,431
Effect of changes in discount rate assumptions	(407)		18		(295)		—		(684)
Balance – end of period	$	1,607	$	4,063	$	11,018	$	59	$	16,747

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


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,254	$	10,063	$	14,650	$	495	$	27,462
Beginning balance at original discount rate	2,749		9,991		15,071		492		28,303
Effect of changes in cash flow assumptions	8		86		100		—		194
Effect of actual variances from expected experience	3		27		(36)		—		(6)
Adjusted beginning of period balance	2,760		10,104		15,135		492		28,491

Issuances	65		295		697		2		1,059
Interest accrual	19		74		164		3		260
Benefits payments	(59)		(87)		(398)		(6)		(550)

Other (including foreign exchange)	30		(2)		114		21		163
Ending balance at original discount rate	2,815		10,384		15,712		512		29,423
Effect of changes in discount rate assumptions	(516)		184		(487)		18		(801)
Balance – end of period	$	2,299	$	10,568	$	15,225	$	530	$	28,622


Liability for Future Policy Benefits, Life Insurance Segment	March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	692	$	6,505	$	4,207	$	471	$	11,875
Deferred profit liability	254		904		174		19		1,351
Net liability for future policy benefits, before reinsurance recoverable	946		7,409		4,381		490		13,226
Less: Reinsurance recoverable on future policy benefits	107		45		113		1		266
Net liability for future policy benefits, after reinsurance recoverable	$	839	$	7,364	$	4,268	$	489	$	12,960
Weighted average duration (years)	10.2		25.6		10.1		15.1		19.3


Present Value of Expected Net Premiums	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,806	$	2,308	$	10,711	$	42	$	14,867
Beginning balance at original discount rate	1,867		2,361		11,258		43		15,529
Effect of changes in cash flow assumptions	17		(1)		(786)		1		(769)
Effect of actual variances from expected experience	(6)		(8)		(89)		(1)		(104)
Adjusted beginning of period balance	1,878		2,352		10,383		43		14,656

Issuances	36		69		288		1		394
Interest accrual	28		18		125		—		171
Net premiums collected (1)	(44)		(82)		(327)		(6)		(459)


Other (including foreign exchange)	35		8		(139)		1		(95)
Ending balance at original discount rate	1,933		2,365		10,330		39		14,667
Effect of changes in discount rate assumptions	(48)		(8)		(263)		—		(319)
Balance – end of period	$	1,885	$	2,357	$	10,067	$	39	$	14,348

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


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,321	$	5,696	$	15,038	$	269	$	23,324
Beginning balance at original discount rate	2,447		5,874		15,855		280		24,456
Effect of changes in cash flow assumptions	20		(1)		(798)		3		(776)
Effect of actual variances from expected experience	(3)		(7)		(87)		(1)		(98)
Adjusted beginning of period balance	2,464		5,866		14,970		282		23,582

Issuances	36		69		288		1		394
Interest accrual	32		52		156		2		242
Benefit payments	(46)		(65)		(362)		(3)		(476)

Other (including foreign exchange)	72		28		(153)		(14)		(67)
Ending balance at original discount rate	2,558		5,950		14,899		268		23,675
Effect of changes in discount rate assumptions	(118)		(42)		(463)		—		(623)
Balance – end of period	$	2,440	$	5,908	$	14,436	$	268	$	23,052


Liability for Future Policy Benefits, Life Insurance Segment	March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	555	$	3,551	$	4,369	$	229	$	8,704
Deferred profit liability	223		581		135		13		952
Net liability for future policy benefits, before reinsurance recoverable	778		4,132		4,504		242		9,656
Less: Reinsurance recoverable on future policy benefits	105		33		112		—		250
Net liability for future policy benefits, after reinsurance recoverable	$	673	$	4,099	$	4,392	$	242	$	9,406
Weighted average duration (years)	9.4		25.3		10.7		14.5		17.7

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


	March 31
(in millions of U.S. dollars)	2024		2023
Net liability for future policy benefits, Life Insurance segment	$	11,875	$	8,704
Other (1)	1,149		1,126
Deferred profit liability	1,351		952
Liability for future policy benefits, per consolidated balance sheet	$	14,375	$	10,782

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

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


	March 31		March 31
(in millions of U.S. dollars)	2024		2023

Term Life
Undiscounted expected future benefit payments	$	4,358	$	4,041
Undiscounted expected future gross premiums	7,291		6,452
Discounted expected future benefit payments	2,299		2,440
Discounted expected future gross premiums	3,909		3,773
Whole Life
Undiscounted expected future benefit payments	24,834		16,446
Undiscounted expected future gross premiums	9,593		6,895
Discounted expected future benefit payments	10,568		5,908
Discounted expected future gross premiums	7,774		5,398
A&H
Undiscounted expected future benefit payments	26,475		23,186
Undiscounted expected future gross premiums	39,002		33,809
Discounted expected future benefit payments	15,225		14,436
Discounted expected future gross premiums	22,975		20,766
Other
Undiscounted expected future benefit payments	901		342
Undiscounted expected future gross premiums	94		97
Discounted expected future benefit payments	530		268
Discounted expected future gross premiums	$	83	$	87

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 Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2024		2023		2024		2023
Life Insurance
Term Life	$	167	$	160	$	5	$	4

Whole Life	530		230		47		34
A&H	753		733		31		31
Other	20		17		3		2
Total	$	1,470	$	1,140	$	86	$	71

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


	Interest Accretion Rate				Current Discount Rate

	March 31				March 31
	2024		2023		2024		2023
Life Insurance
Term Life	2.9	%	2.8	%	5.7	%	5.7	%

Whole Life	3.2	%	4.0	%	4.5	%	5.2	%
A&H	3.7	%	3.8	%	6.3	%	6.2	%
Other	2.6	%	3.8	%	3.8	%	4.8	%

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

3 Months Ended

Mar. 31, 2024

Policyholder Account Balance [Abstract]

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

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

Policyholders' account balances

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


	Three Months Ended March 31, 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	72		131		131		334
Policy charges (1)	(34)		—		(2)		(36)
Surrenders and withdrawals	(32)		(10)		(77)		(119)
Benefit payments (4)	(54)		(59)		(3)		(116)

Interest credited	13		16		14		43
Other (including foreign exchange)	(1)		(5)		(9)		(15)
Balance – end of period	$	1,840	$	2,484	$	2,556	$	6,880
Unearned revenue liability							680
Policyholders' account liability, per consolidated balance sheet							$	7,560

(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)Other 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.


	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Universal Life		Other (2)		Total
Balance – beginning of period	$	1,199	$	1,374	$	2,573


Premiums received	50		18		68
Policy charges (1)	(30)		(4)		(34)
Surrenders and withdrawals	(15)		(8)		(23)
Benefit payments (3)	(4)		(6)		(10)

Interest credited	8		8		16
Other (including foreign exchange)	—		3		3
Balance – end of period	$	1,208	$	1,385	$	2,593
Unearned revenue liability					585
Policyholders' account liability, per consolidated balance sheet					$	3,178

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

(3)Includes benefit payments upon maturity as well as death benefits.



	March 31
	2024									2023
(in millions of U.S. dollars, except for percentages)	Universal Life			Annuities			Other			Universal Life			Other
Weighted-average crediting rate	2.9		%	2.6		%	2.5		%	2.6		%	3.0		%
Net amount at risk (1)	$	12,014		$	—		$	499		$	11,394		$	156
Cash Surrender Value	$	1,623		$	1,605		$	2,239		$	1,005		$	1,075

(1)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


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	482	$	—	$	39	$	49	$	570
2.01% – 4.00%	67		461		728		—		1,256
Greater than 4.00%	14		—		—		—		14
Total	$	563	$	461	$	767	$	49	$	1,840


	March 31, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	455	$	—	$	32	$	7	$	494
2.01% – 4.00%	69		345		280		—		694
Greater than 4.00%	20		—		—		—		20
Total	$	544	$	345	$	312	$	7	$	1,208

Annuities


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	720	$	—	$	1,624	$	1	$	2,345
2.01% – 4.00%	139		—		—		—		139
Greater than 4.00%	—		—		—		—		—
Total	$	859	$	—	$	1,624	$	1	$	2,484

Other policyholders' account balances


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	789	$	—	$	243	$	533	$	1,565
2.01% – 4.00%	378		613		—		—		991
Greater than 4.00%	—		—		—		—		—
Total	$	1,167	$	613	$	243	$	533	$	2,556


	March 31, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	446	$	—	$	212	$	295	$	953
2.01% – 4.00%	384		43		—		—		427
Greater than 4.00%	5		—		—		—		5
Total	$	835	$	43	$	212	$	295	$	1,385

Separate accounts

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

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


	March 31		March 31
(in millions of U.S. dollars)	2024		2023
Cash and cash equivalents	$	76	$	116

Mutual funds	5,699		5,082

Fixed maturities	89		102

Total	$	5,864	$	5,300

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Balance – beginning of period	$	5,573	$	5,190

Premiums and deposits	264		266
Policy charges	(43)		(35)
Surrenders and withdrawals	(210)		(111)
Benefit payments	(105)		(99)
Investment performance	375		110

Other (including foreign exchange)	10		(21)
Balance – end of period	$	5,864	$	5,300
Cash surrender value (1)	$	5,655	$	5,030

(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 over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:


	Three Months Ended March 31
(in millions of U.S. dollars)	2024		2023
Balance – beginning of period	$	673	$	567
Deferred revenue	34		32
Amortization	(18)		(14)

Other (including foreign exchange)	(9)		—
Balance – end of period	$	680	$	585

Market risk benefits

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


	Three Months Ended March 31
(in millions of U.S. dollars)	2024		2023
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	(57)		63
Effect of changes in equity markets	(77)		(75)
Effect of changes in volatilities	(20)		57
Actual policyholder behavior different from expected behavior	30		(2)


Effect of timing and all other	(31)		(16)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	594	$	803
Effect of changes in the instrument-specific credit risk	17		27
Balance – end of period	$	611	$	830
Weighted-average age of policyholders (years)	74		73
Net amount at risk (1)	$	1,683	$	2,296

(1) 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 $(134) million and $(89) million for the three months ended March 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.

For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.

Valuation Technique

Significant Unobservable Inputs

March 31, 2024

March 31, 2023

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

0.5% – 30.0%

4.3

%

0.5% – 30.4%

4.0

%

Annuitization rate

0% – 100%

4.2

%

0% – 100%

4.4

%

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

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

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

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

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. 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. For detailed information on our lapse and annuitization rate assumptions, refer to Note 11 to the Consolidated Financial Statements of our 2023 Form 10-K.

Market risk benefits

3 Months Ended

Mar. 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:


	Three Months Ended March 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	72		131		131		334
Policy charges (1)	(34)		—		(2)		(36)
Surrenders and withdrawals	(32)		(10)		(77)		(119)
Benefit payments (4)	(54)		(59)		(3)		(116)

Interest credited	13		16		14		43
Other (including foreign exchange)	(1)		(5)		(9)		(15)
Balance – end of period	$	1,840	$	2,484	$	2,556	$	6,880
Unearned revenue liability							680
Policyholders' account liability, per consolidated balance sheet							$	7,560

(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)Other 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.


	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Universal Life		Other (2)		Total
Balance – beginning of period	$	1,199	$	1,374	$	2,573


Premiums received	50		18		68
Policy charges (1)	(30)		(4)		(34)
Surrenders and withdrawals	(15)		(8)		(23)
Benefit payments (3)	(4)		(6)		(10)

Interest credited	8		8		16
Other (including foreign exchange)	—		3		3
Balance – end of period	$	1,208	$	1,385	$	2,593
Unearned revenue liability					585
Policyholders' account liability, per consolidated balance sheet					$	3,178

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

(3)Includes benefit payments upon maturity as well as death benefits.



	March 31
	2024									2023
(in millions of U.S. dollars, except for percentages)	Universal Life			Annuities			Other			Universal Life			Other
Weighted-average crediting rate	2.9		%	2.6		%	2.5		%	2.6		%	3.0		%
Net amount at risk (1)	$	12,014		$	—		$	499		$	11,394		$	156
Cash Surrender Value	$	1,623		$	1,605		$	2,239		$	1,005		$	1,075

(1)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


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	482	$	—	$	39	$	49	$	570
2.01% – 4.00%	67		461		728		—		1,256
Greater than 4.00%	14		—		—		—		14
Total	$	563	$	461	$	767	$	49	$	1,840


	March 31, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	455	$	—	$	32	$	7	$	494
2.01% – 4.00%	69		345		280		—		694
Greater than 4.00%	20		—		—		—		20
Total	$	544	$	345	$	312	$	7	$	1,208

Annuities


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	720	$	—	$	1,624	$	1	$	2,345
2.01% – 4.00%	139		—		—		—		139
Greater than 4.00%	—		—		—		—		—
Total	$	859	$	—	$	1,624	$	1	$	2,484

Other policyholders' account balances


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	789	$	—	$	243	$	533	$	1,565
2.01% – 4.00%	378		613		—		—		991
Greater than 4.00%	—		—		—		—		—
Total	$	1,167	$	613	$	243	$	533	$	2,556


	March 31, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	446	$	—	$	212	$	295	$	953
2.01% – 4.00%	384		43		—		—		427
Greater than 4.00%	5		—		—		—		5
Total	$	835	$	43	$	212	$	295	$	1,385

Separate accounts

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

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


	March 31		March 31
(in millions of U.S. dollars)	2024		2023
Cash and cash equivalents	$	76	$	116

Mutual funds	5,699		5,082

Fixed maturities	89		102

Total	$	5,864	$	5,300

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Balance – beginning of period	$	5,573	$	5,190

Premiums and deposits	264		266
Policy charges	(43)		(35)
Surrenders and withdrawals	(210)		(111)
Benefit payments	(105)		(99)
Investment performance	375		110

Other (including foreign exchange)	10		(21)
Balance – end of period	$	5,864	$	5,300
Cash surrender value (1)	$	5,655	$	5,030

(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 over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:


	Three Months Ended March 31
(in millions of U.S. dollars)	2024		2023
Balance – beginning of period	$	673	$	567
Deferred revenue	34		32
Amortization	(18)		(14)

Other (including foreign exchange)	(9)		—
Balance – end of period	$	680	$	585

Market risk benefits

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


	Three Months Ended March 31
(in millions of U.S. dollars)	2024		2023
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	(57)		63
Effect of changes in equity markets	(77)		(75)
Effect of changes in volatilities	(20)		57
Actual policyholder behavior different from expected behavior	30		(2)


Effect of timing and all other	(31)		(16)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	594	$	803
Effect of changes in the instrument-specific credit risk	17		27
Balance – end of period	$	611	$	830
Weighted-average age of policyholders (years)	74		73
Net amount at risk (1)	$	1,683	$	2,296

(1) 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 $(134) million and $(89) million for the three months ended March 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.

For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.

Valuation Technique

Significant Unobservable Inputs

March 31, 2024

March 31, 2023

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

0.5% – 30.0%

4.3

%

0.5% – 30.4%

4.0

%

Annuitization rate

0% – 100%

4.2

%

0% – 100%

4.4

%

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

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

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

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

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. 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. For detailed information on our lapse and annuitization rate assumptions, refer to Note 11 to the Consolidated Financial Statements of our 2023 Form 10-K.

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt Disclosure	DebtOn March 7, 2024, Chubb INA Holdings LLC (Chubb INA) issued $1.0 billion of 5.0 percent senior notes due March 2034. These senior unsecured notes are guaranteed on a senior basis by Chubb Limited and they rank equally with all of Chubb INA'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. These senior notes are redeemable at any time at Chubb INA's option subject to a “make-whole” premium (the present value of the remaining principal and interest discounted at the applicable comparable government bond rate plus 0.15 percent). The notes are also redeemable at par plus accrued and unpaid interest in the event of certain changes in tax law. These notes do not have the benefit of any sinking fund.

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

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Commitments and Contingencies Disclosure [Abstract]

Commitments, contingencies, and guarantees

3 Months Ended

Mar. 31, 2024

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. Investment derivative instruments, futures contracts on equities, and derivatives designated as hedges for accounting purposes are recorded in either Other assets (OA) or Accounts payable, accrued expenses, and other liabilities (AP); convertible bonds are recorded in Fixed maturities available-for-sale (FM AFS); and convertible equity securities are recorded in Equity securities (ES) in the Consolidated balance sheets. These are the most numerous and frequent derivative transactions. In addition, Chubb, from time to time, purchases to be announced mortgage-backed securities (TBAs) as part of its investing activities.

As a global company, Chubb entities transact business in multiple currencies. Our policy is to generally match assets, liabilities, and required capital for each individual jurisdiction in local currency, which would include the use of derivatives discussed below. Some of Chubb's derivatives satisfy hedge accounting requirements, as discussed below. We also consider economic hedging for planned cross border transactions.

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


				March 31, 2024								December 31, 2023
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision			Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)				Derivative Asset			Derivative (Liability)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contracts	OA / (AP)	$	23	$	(135)	$	3,647		$	27		$	(94)	$	3,662
Options/Futures contracts on notes and bonds	OA / (AP)	5		(9)		1,746			27			(42)		2,062
Convertible securities (1)	FM AFS / ES	64		—		69			56			—		64
		$	92	$	(144)	$	5,462		$	110		$	(136)	$	5,788
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	—	$	(22)	$	1,162		$	—		$	(37)	$	1,157
Other	OA / (AP)	1		(6)		269			—			(5)		217
		$	1	$	(28)	$	1,431		$	—		$	(42)	$	1,374
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	133	$	—	$	1,642		$	126		$	—	$	1,631
Cross-currency swaps - net investment hedges	OA / (AP)	16		(110)		1,625			10			(128)		1,619
		$	149	$	(110)	$	3,267		$	136		$	(128)	$	3,250

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

At March 31, 2024, and December 31, 2023, net derivative liabilities of $104 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 for foreign currency exposure associated with portions of our euro denominated debt and the net investment in certain foreign subsidiaries, respectively. These derivatives comprise cross-currency swaps, which are agreements under which two counterparties exchange interest payments and principal denominated in different currencies at a future date. 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 March 31, 2024, of our euro denominated debt, by converting cash flows back into the U.S. dollar.

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


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2024		2023
Gain (loss) recognized in OCI	$	(8)	$	(17)
Net realized gain (loss) reclassified from OCI	(37)		20
Interest expense reclassified from OCI	(4)		(4)
OCI gain (loss) after reclassifications	$	33	$	(33)

(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, and Swiss franc. The hedged risk is designated as the foreign currency exposure arising between the functional currency of the foreign subsidiary and the functional currency of its parent entity.

The mark-to-market adjustments for foreign currency changes will remain until the underlying hedge subsidiary is deconsolidated or if hedge accounting is discontinued.

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 is reclassified to Interest expense as follows:


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2024		2023
Gain (loss) recognized in OCI	$	36	$	(23)
Interest income reclassified from OCI	3		3
OCI gain (loss) after reclassifications	$	33	$	(26)

c) Derivative instruments not designated as hedges

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(52)	$	(51)

All other futures contracts, options, and equities	6		5
Convertible securities (1)	3		—

Total investment and embedded derivative instruments	$	(43)	$	(46)
Other derivative instruments:
Futures contracts on equities (2)	(95)		(57)
Other	(2)		(1)
Total other derivative instruments	$	(97)	$	(58)
	$	(140)	$	(104)

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

(v) Futures contracts on equities

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

d) Securities lending and secured borrowings

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

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


	Remaining contractual maturity

	March 31, 2024		December 31, 2023
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	698	$	555
U.S. Treasury / Agency	275		33
Non-U.S.	654		621
Corporate and asset-backed securities	60		57

Municipal	4		6
Equity securities	17		27

	$	1,708	$	1,299
Gross amount of recognized liability for securities lending payable	$	1,708	$	1,299

At March 31, 2024, and December 31, 2023, our repurchase agreement obligations of $3,022 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
	March 31, 2024				December 31, 2023
	Up to 30 Days		30-90 Days		Total		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	—	$	4	$	4	$	—	$	33	$	1	$	34
Non-U.S.	1,579		—		1,579		1,355		—		—		1,355
U.S. Treasury / Agency	—		100		100		—		105		—		105


Mortgage-backed securities	488		926		1,414		—		913		517		1,430
	$	2,067	$	1,030	$	3,097	$	1,355	$	1,051	$	518	$	2,924
Gross amount of recognized liabilities for repurchase agreements					$	3,022							$	2,833
Difference (1)					$	75							$	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) Fixed maturities

At March 31, 2024, and December 31, 2023, commitments to purchase fixed income securities over the next several years were $1.0 billion for both periods.

f) Private equities

Private equities in the Consolidated balance sheets are investments in limited partnerships and partially-owned investment companies with a carrying value of $14.0 billion at March 31, 2024. In connection with these investments, we have commitments that may require funding of up to $5.9 billion over the next several years. At December 31, 2023, these investments had a carrying value of $13.9 billion with commitments that could have required funding of up to $6.2 billion.

g) Income taxes

At March 31, 2024, $73 million of unrecognized tax benefits remain outstanding. It is reasonably possible that, over the next twelve months, the amount of unrecognized tax benefits may change resulting from the re-evaluation of unrecognized tax benefits arising from examinations by taxing authorities, settlements, and the lapses of statutes of limitations. With few exceptions, Chubb is no longer subject to income tax examinations for years before 2012.

h) Legal proceedings

Our insurance subsidiaries are subject to claims litigation involving disputed interpretations of policy coverages and, in some jurisdictions, direct actions by allegedly-injured persons seeking damages from policyholders. These lawsuits, involving claims on policies issued by our subsidiaries which are typical to the insurance industry in general and in the normal course of

business, are considered in our loss and loss expense reserves. In addition to claims litigation, we are subject to lawsuits and regulatory actions in the normal course of business that do not arise from or directly relate to claims on insurance policies. This category of business litigation typically involves, among other things, allegations of underwriting errors or misconduct, employment claims, regulatory activity, or disputes arising from our business ventures. In the opinion of management, our ultimate liability for these matters could be, but we believe is not likely to be, material to our consolidated financial condition and results of operations.

i) Lease commitments

At March 31, 2024, and December 31, 2023, the right-of-use asset was $762 million and $784 million, respectively, recorded within Other assets, and the lease liability was $818 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.

Shareholders' equity

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Shareholders' equity

Shareholders’ equity

All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing the Consolidated Financial Statements. Under Swiss corporate law, dividends, including distributions from legal reserves or through a reduction in par value (par value reduction), must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At March 31, 2024, our Common Shares had a par value of CHF 0.50 per share.

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 of Directors (Board) after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

Dividend distributions per Common Share for the three months ended March 31, 2024 and 2023, were $0.86 (CHF 0.75) and $0.83 (CHF 0.77), respectively.

Increases in Common Shares in treasury are due to open market repurchases of Common Shares and the surrender of Common Shares to satisfy tax withholding obligations in connection with the vesting of restricted stock and the forfeiture of unvested restricted stock. Decreases in Common Shares in treasury are principally due to grants of restricted stock, exercises of stock options, purchases under the Employee Stock Purchase Plan (ESPP), and share cancellations. At our May 2023 annual general meeting, held on May 17, 2023, 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. During the three months ended March 31, 2024, 1,220,121 shares were repurchased and 1,983,550 net shares were issued under employee share-based compensation plans. At March 31, 2024, 25,418,520 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations

The Board has authorized share repurchase programs as follows:

•$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.

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


	Three Months Ended			April 1,2024 through April 25, 2024
	March 31
(in millions of U.S. dollars, except share data)		2024				2023
Number of shares repurchased		1,220,121		2,010,400			250,000
Cost of shares repurchased		$	316	$	428		$	62
Repurchase authorization remaining at end of period		$	3,373	$	1,193		$	3,312

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)		2024		2023
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax		$	(4,177)	$	(7,279)
Change in period, before reclassification from AOCI (before tax)		(796)		1,606
Amounts reclassified from AOCI (before tax)		119		180
Change in period, before tax		(677)		1,786
Income tax (expense) benefit		42		(166)
Total other comprehensive income (loss)		(635)		1,620
Noncontrolling interests, net of tax		13		—
Balance – end of period, net of tax		(4,825)		(5,659)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax		51		(75)
Change in period, before tax		(53)		(151)
Income tax (expense) benefit		(20)		21
Total other comprehensive loss		(73)		(130)
Noncontrolling interests, net of tax		(33)		—
Balance – end of period, net of tax		11		(205)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax		(22)		(24)
Change in period, before and net of tax		5		(3)
Total other comprehensive income (loss)		5		(3)
Noncontrolling interests, net of tax		—		—
Balance – end of period, net of tax		(17)		(27)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax		(2,945)		(2,966)
Change in period, before reclassification from AOCI (before tax)		83		(174)
Amounts reclassified from AOCI (before tax)		(3)		(3)
Change in period, before tax		80		(177)
Income tax (expense) benefit		(7)		7
Total other comprehensive income (loss)		73		(170)
Noncontrolling interests, net of tax		(8)		—
Balance – end of period, net of tax		(2,864)		(3,136)


	Three Months Ended
	March 31
(in millions of U.S. dollars)		2024		2023
Accumulated other comprehensive income (loss) (AOCI) - continued
Fair value hedging instruments
Balance – beginning of period, net of tax		(13)		(66)
Change in period, before reclassification from AOCI (before tax)		(8)		(17)
Amounts reclassified from AOCI (before tax)		41		(16)
Change in period, before tax		33		(33)
Income tax (expense) benefit		(7)		7
Total other comprehensive income (loss)		26		(26)
Noncontrolling interests, net of tax		—		—
Balance – end of period, net of tax		13		(92)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax		297		225
Change in period, before tax		(2)		—
Income tax (expense) benefit		1		(1)
Total other comprehensive loss		(1)		(1)
Noncontrolling interests, net of tax		—		—
Balance – end of period, net of tax		296		224
Accumulated other comprehensive loss		$	(7,386)	$	(8,895)

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


	Three Months Ended			Consolidated Statement of Operations Location
	March 31
(in millions of U.S. dollars)		2024				2023
Fixed maturities available-for-sale		$	(119)	$	(180)		Net realized gains (losses)
Income tax benefit		12		18			Income tax expense
		$	(107)	$	(162)		Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps		$	3	$	3		Interest expense
Income tax expense		(1)		(1)			Income tax expense
		$	2	$	2		Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps		$	(37)	$	20		Net realized gains (losses)
Cross-currency swaps		(4)		(4)			Interest expense
Income tax (expense) benefit		9		(3)			Income tax expense
		$	(32)	$	13		Net income
Total amounts reclassified from AOCI		$	(137)	$	(147)

The entire disclosure for equity.

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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Compensation and Employee Benefit Plans [Text Block]

Share-based compensation	3 Months Ended
Share-based compensation	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation The Chubb Limited 2016 Long-Term Incentive Plan, as amended and restated (the Amended 2016 LTIP), permits grants of both incentive and non-qualified stock options principally at an option price per share equal to the grant date fair value of Chubb's Common Shares. Stock options are generally granted with a 3-year vesting period and a 10-year term. Stock options typically vest in equal annual installments over the respective vesting period, which is also the requisite service period. On February 26, 2024, Chubb granted 1,359,237 stock options with a weighted-average grant date fair value of $64.15 each. The fair value of the options issued is estimated on the grant date using the Black-Scholes option pricing model. The Amended 2016 LTIP also permits grants of service-based restricted stock and restricted stock units as well as performance shares and performance stock units. Under the Chubb Deferred Stock Unit Plan, a sub-plan of the Amended 2016 LTIP, eligible participants may defer vested performance stock units and restricted stock units to the extent such awards are U.S.-allocated compensation. Chubb generally grants service-based restricted stock and restricted stock units with a 4-year vesting period, based on a graded vesting schedule. Performance shares and performance stock units granted comprise both target and premium awards that cliff vest at the end of a 3-year performance period based on tangible book value (shareholders' equity less goodwill and intangible assets, net of tax) per share growth and P&C combined ratio compared to a defined group of peer companies. Premium awards are subject to an additional vesting provision based on total shareholder return compared to the peer group. Stock and unit awards are principally granted at market close price on the grant date. On February 26, 2024, Chubb granted 685,665 service-based restricted stock, 290,085 service-based restricted stock units, 107,644 performance shares, and 277,883 performance stock units to employees and officers with a grant date fair value of $254.84 each. Each service-based restricted stock unit and performance stock unit represents our obligation to deliver to the holder one Common Share upon vesting (or the end of the deferral period, if the unit is under the Chubb Deferred Stock Unit Plan).

Postretirement benefits

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Postretirement benefits

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


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2024				2023				2024		2023
Three Months Ended March 31	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	2	$	—	$	2	$	—	$	—
Non-service cost (benefit):
Interest cost	33		9		34		9		1		—
Expected return on plan assets	(61)		(13)		(56)		(12)		(1)		(1)
Amortization of net actuarial (gain) loss	—		1		—		—		(1)		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(28)		(3)		(22)		(3)		(1)		(1)
Net periodic benefit cost (benefit)	$	(28)	$	(1)	$	(22)	$	(1)	$	(1)	$	(1)

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended March 31	2024		2023		2024		2023
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		2		—		—
Total service cost	2		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(3)		(2)		—		—
Administrative expenses	(28)		(23)		(1)		(1)
Total non-service cost (benefit)	(31)		(25)		(1)		(1)
Net periodic benefit cost (benefit)	$	(29)	$	(23)	$	(1)	$	(1)

Other Income and Expense

3 Months Ended

Mar. 31, 2024

Other Income and Expenses [Abstract]

Other Income and Expense Disclosure

Other income and expense


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Equity in net income (loss) of partially-owned entities	$	184	$	340
Gains (losses) from fair value changes in separate account assets (1)	10		(25)
Asset management and performance fee revenue	53		—
Asset management and performance fee expense	(33)		—
Federal excise and capital taxes	(4)		(5)
Other	(19)		(14)
Total	$	191	$	296

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

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 $103 million and $242 million for the three months ended March 31, 2024 and 2023, respectively.

In addition, this line item includes net income attributable to our investment in Huatai under the equity method of accounting comprising income of $14 million through March 31, 2023. 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 reporting under U.S. GAAP. The offsetting movement in the separate account liabilities is included in Policy benefits in the Consolidated statements of operations.

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

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

Segment information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment information

Chubb operates through six business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. These segments distribute their products through various forms of brokers, agencies, and direct marketing programs. All business segments have established relationships with reinsurance intermediaries. 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.

Management uses Underwriting income (loss) as the basis for segment performance. Chubb calculates Underwriting income (loss) by subtracting Losses and loss expenses, Policy benefits, Policy acquisition costs, and Administrative expenses from Net premiums earned. Segment income (loss) includes Underwriting income (loss), Net investment income (loss), and other operating income and expense items such as each segment's share of the operating income (loss) related to partially-owned entities and miscellaneous income and expense items for which the segments are held accountable. Our main measure of segment performance is Segment income (loss), which also includes Amortization of purchased intangibles acquired by the segment. We determined that this definition of Segment income (loss) is appropriate and aligns with how the business is managed. We continue to evaluate our segments as our business continues to evolve and may further refine our segments and Segment income (loss) measures.

Revenue and expenses managed at the corporate level, including Net realized gains (losses), Market risk benefits gains (losses), Interest expense, Cigna integration expenses, Income tax expense, and Net income (loss) attributable to noncontrolling interests are reported within Corporate. Cigna integration expenses are one-time costs that are directly attributable to third-party consulting fees, employee-related retention costs, and other professional and legal fees 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 Chief Executive Officer does not manage segment results or allocate resources to segments when considering these costs, and therefore are excluded from our definition of Segment income (loss).

Certain items are presented in a different manner for segment reporting purposes than in the Consolidated Financial Statements. These items are reconciled to the consolidated presentation in the Segment measure reclass column below and include:

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

•Policy benefits include fair value changes on separate accounts that do not qualify for separate accounting under 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.

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

The following tables present the Statement of Operations by segment:


For the Three Months Ended March 31, 2024 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,689	$	1,456	$	249	$	3,835	$	359	$	1,633	$	—	$	—	$	12,221
Net premiums earned	4,880		1,471		128		3,198		295		1,611		—		—		11,583
Losses and loss expenses	3,175		899		49		1,426		137		32		10		(1)		5,727
Policy benefits	—		—		—		100		—		1,070		—		10		1,180
Policy acquisition costs	688		300		21		823		81		294		—		—		2,207
Administrative expenses	328		86		2		331		9		207		107				1,070
Underwriting income (loss)	689		186		56		518		68		8		(117)		(9)		1,399
Net investment income	826		102		21		267		57		230		(26)		(86)		1,391
Other (income) expense	7		1		—		5		—		(40)		(68)		(96)		(191)
Amortization expense of purchased intangibles	—		2		6		20		—		10		42		—		80
Segment income (loss)	$	1,508	$	285	$	71	$	760	$	125	$	268	$	(117)	$	1	$	2,901
Net realized gains (losses)													(100)		(1)		(101)
Market risk benefits gains (losses)													21		—		21
Interest expense													178		—		178
Cigna integration expenses													7		—		7
Income tax expense													342		—		342
Net income (loss)													(723)		—		2,294
Net loss attributable to noncontrolling interests													151		—		151
Net income (loss) attributable to Chubb													$	(874)	$	—	$	2,143


For the Three Months Ended March 31, 2023 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,288	$	1,296	$	293	$	3,263	$	277	$	1,293	$	—	$	—	$	10,710
Net premiums earned	4,369		1,320		159		2,786		244		1,264		—		—		10,142
Losses and loss expenses	2,729		888		140		1,237		112		32		11		(1)		5,148
Policy benefits	—		—		—		110		—		712		—		(25)		797
Policy acquisition costs	613		272		15		713		62		273		—		—		1,948
Administrative expenses	295		79		3		280		9		167		97		—		930
Underwriting income (loss)	732		81		1		446		61		80		(108)		26		1,319
Net investment income	698		82		17		188		49		153		11		(91)		1,107
Other (income) expense	7		1		1		(9)		(1)		(15)		(214)		(66)		(296)
Amortization expense of purchased intangibles	—		2		6		18		—		4		42		—		72
Segment income	$	1,423	$	160	$	11	$	625	$	111	$	244	$	75	$	1	$	2,650
Net realized gains (losses)													(76)		(1)		(77)
Market risk benefits gains (losses)													(115)		—		(115)
Interest expense													160		—		160
Cigna integration expenses													22		—		22
Income tax expense													384		—		384
Net income (loss)													$	(682)	$	—	$	1,892

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

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

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Earnings per share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per share


	Three Months Ended
	March 31
(in millions of U.S. dollars, except share and per share data)		2024		2023
Numerator:
Net income		$	2,294	$	1,892
Net income attributable to noncontrolling interests		151		—
Net income attributable to Chubb		$	2,143	$	1,892
Denominator:
Denominator for basic earnings per share attributable to Chubb:
Weighted-average shares outstanding		405,662,694		414,289,150
Denominator for diluted earnings per share attributable to Chubb:
Share-based compensation plans		4,076,941		3,639,042
Weighted-average shares outstanding and assumed conversions		409,739,635		417,928,192
Basic earnings per share attributable to Chubb		$	5.28	$	4.57
Diluted earnings per share attributable to Chubb		$	5.23	$	4.53
Potential anti-dilutive share conversions		1,005,420		1,731,523

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods. These securities consisted of stock options in which the underlying exercise prices were greater than the average market prices of our Common Shares. Refer to Note 16 to the Consolidated Financial Statements of our 2023 Form 10-K for additional information on stock options.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 2,143	$ 1,892

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

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Business Acquisition, Pro Forma Information

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 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

General and significant accounting policies (Policies)	3 Months Ended
General and significant accounting policies (Policies)	Mar. 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 17 for additional information. The interim unaudited consolidated financial statements include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions, 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 March 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. 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 results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2023 Form 10-K.
Goodwill and Intangible Assets, Goodwill, Policy	GoodwillDuring the three months ended March 31, 2024, Goodwill increased $10 million, primarily reflecting the impact of foreign exchange.
Accounting guidance adopted in current year	New Accounting Pronouncements Accounting guidance not yet adopted 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. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. We are currently evaluating the impact of this disclosure-only requirement. 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 annual periods beginning after December 15, 2024. Prospective application is required, with retrospective application permitted. We are currently evaluating the impact of this disclosure-only requirement.

Fair value measurements (Fair Value Measurement Policy) (Policies)	3 Months Ended
	Mar. 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.

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

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.


	Three Months Ended
Pro forma:	March 31
(in millions of U.S. dollars)	2023
Net premiums earned	$	10,553
Total revenues	$	11,529
Net income	$	1,900
Net income attributable to Chubb	$	1,890

Investments (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

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


March 31, 2024	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency	$	3,058	$	—	$	5	$	(164)	$	2,899
Non-U.S.	36,962		(41)		605		(1,381)		36,145
Corporate and asset-backed securities	45,567		(73)		306		(2,353)		43,447
Mortgage-backed securities	25,696		(1)		89		(2,029)		23,755
Municipal	2,196		—		7		(160)		2,043
	$	113,479	$	(115)	$	1,012	$	(6,087)	$	108,289


December 31, 2023	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. Treasury / Agency	$	3,721	$	—	$	13	$	(144)	$	3,590
Non-U.S.	35,918		(49)		592		(1,297)		35,164
Corporate and asset-backed securities	44,695		(104)		390		(2,151)		42,830
Mortgage-backed securities	23,720		(3)		143		(1,802)		22,058
Municipal	3,074		—		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:


	March 31, 2024				December 31, 2023
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available-for-sale
Due in 1 year or less	$	4,521	$	4,521	$	4,729	$	4,729
Due after 1 year through 5 years	33,533		33,533		33,573		33,573
Due after 5 years through 10 years	28,198		28,198		28,480		28,480
Due after 10 years	18,282		18,282		17,731		17,731
	84,534		84,534		84,513		84,513
Mortgage-backed securities	23,755		23,755		22,058		22,058
	$	108,289	$	108,289	$	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 Months				Over 12 Months				Total
March 31, 2024	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency	$	632	$	(13)	$	2,007	$	(151)	$	2,639	$	(164)
Non-U.S.	3,793		(64)		15,928		(1,079)		19,721		(1,143)
Corporate and asset-backed securities	4,675		(71)		19,646		(1,487)		24,321		(1,558)
Mortgage-backed securities	4,907		(82)		13,783		(1,919)		18,690		(2,001)
Municipal	443		(12)		1,218		(148)		1,661		(160)
Total AFS fixed maturities	$	14,450	$	(242)	$	52,582	$	(4,784)	$	67,032	$	(5,026)


	0 – 12 Months				Over 12 Months				Total
December 31, 2023	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. Treasury / Agency	$	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 securities	2,866		(51)		20,334		(1,194)		23,200		(1,245)
Mortgage-backed securities	1,659		(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:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	156	$	169


Provision for expected credit loss	31		59

Write-offs charged against the expected credit loss	(5)		(2)

Recovery of expected credit loss	(67)		(58)
Valuation allowance for expected credit losses - end of period	$	115	$	168
Held-to-maturity
Valuation allowance for expected credit losses - beginning of period	$	—	$	34





Recovery of expected credit loss	—		(1)
Valuation allowance for expected credit losses - end of period	$	—	$	33
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	4	$	—
Provision for expected credit loss	1		—
Valuation allowance for expected credit losses - end of period	$	5	$	—

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:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	156	$	169


Provision for expected credit loss	31		59

Write-offs charged against the expected credit loss	(5)		(2)

Recovery of expected credit loss	(67)		(58)
Valuation allowance for expected credit losses - end of period	$	115	$	168
Held-to-maturity
Valuation allowance for expected credit losses - beginning of period	$	—	$	34





Recovery of expected credit loss	—		(1)
Valuation allowance for expected credit losses - end of period	$	—	$	33
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	4	$	—
Provision for expected credit loss	1		—
Valuation allowance for expected credit losses - end of period	$	5	$	—

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

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	156	$	169


Provision for expected credit loss	31		59

Write-offs charged against the expected credit loss	(5)		(2)

Recovery of expected credit loss	(67)		(58)
Valuation allowance for expected credit losses - end of period	$	115	$	168
Held-to-maturity
Valuation allowance for expected credit losses - beginning of period	$	—	$	34





Recovery of expected credit loss	—		(1)
Valuation allowance for expected credit losses - end of period	$	—	$	33
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	4	$	—
Provision for expected credit loss	1		—
Valuation allowance for expected credit losses - end of period	$	5	$	—

Schedule of Realized Gain (Loss)

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Fixed maturities:



Gross realized gains	$	16	$	2
Gross realized losses	(141)		(159)
Other investments - Fixed maturities	168		—
Net (provision for) recovery of expected credit losses	40		2
Impairment (1)	(34)		(25)
Total fixed maturities	49		(180)
Equity securities	3		11

Private equities (less than 3 percent ownership)	31		15
Foreign exchange	(131)		131
Investment and embedded derivative instruments	(43)		(46)
Other derivative instruments	(2)		(1)
Other	(8)		(7)
Net realized gains (losses) (pre-tax)	$	(101)	$	(77)

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

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:


									Three Months Ended
									March 31
	2024								2023
(in millions of U.S. dollars)	Equity Securities		Other Investments		Private Equities		Total		Equity Securities		Private Equities		Total
Net gains (losses) recognized during the period	$	3	$	168	$	31	$	202	$	11	$	15	$	26
Less: Net gains (losses) recognized from sales of securities	(3)		—		—		(3)		(5)		—		(5)
Unrealized gains (losses) recognized for securities still held at reporting date	$	6	$	168	$	31	$	205	$	16	$	15	$	31

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


	Expected Liquidation Period of Underlying Assets	March 31, 2024				December 31, 2023
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,289	$	341	$	1,241	$	364
Real assets	2 to 13 Years	2,095		424		2,137		445
Distressed	2 to 8 Years	1,218		928		1,206		936
Private credit	3 to 8 Years	328		296		331		298
Traditional	2 to 14 Years	9,052		3,916		8,873		4,167
Vintage	1 to 3 Years	67		—		72		—
Investment funds	Not Applicable	232		—		218		—
		$	14,281	$	5,905	$	14,078	$	6,210

Schedule Of Components Of Restricted Assets

The following table presents the components of restricted assets:


	March 31		December 31
(in millions of U.S. dollars)	2024		2023
Trust funds	$	8,626	$	8,482
Deposits with U.S. regulatory authorities	2,488		2,544
Deposits with non-U.S. regulatory authorities	3,595		3,584
Assets pledged under repurchase agreements	3,097		2,924
Other pledged assets	905		880
Total	$	18,711	$	18,414

Fair value measurements (Tables)

3 Months Ended

Mar. 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


March 31, 2024	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. Treasury / Agency	$	2,251	$	648	$	—	$	2,899
Non-U.S.	—		35,427		718		36,145
Corporate and asset-backed securities	—		40,789		2,658		43,447
Mortgage-backed securities	—		23,748		7		23,755
Municipal	—		2,043		—		2,043
	2,251		102,655		3,383		108,289

Equity securities	3,668		—		101		3,769
Short-term investments	3,292		1,810		5		5,107
Other investments (1)	583		4,897		—		5,480
Securities lending collateral	—		1,708		—		1,708
Investment derivatives	28		—		—		28
Derivatives designated as hedging instruments	—		149		—		149
Other derivative instruments	1		—		—		1
Separate account assets	5,775		89		—		5,864
Total assets measured at fair value (1)(2)	$	15,598	$	111,308	$	3,489	$	130,395
Liabilities:
Investment derivatives	$	144	$	—	$	—	$	144
Derivatives designated as hedging instruments	—		110		—		110
Other derivative instruments	22		6		—		28
Market risk benefits (3)	—		—		611		611
Total liabilities measured at fair value	$	166	$	116	$	611	$	893

(1)Excluded from the table above are other investments of $736 million, principally policy loans at March 31, 2024, measured using NAV as a practical expedient.

(2)Excluded from the table above are Private equities of $14,281 million at March 31, 2024, measured using NAV as a practical expedient.

(3)Refer to Note 10 for additional information on Market risk benefits.


December 31, 2023	Level 1		Level 2		Level 3		Total
(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 securities	3,368		—		87		3,455
Short-term investments	1,915		2,633		3		4,551
Other investments (1)	589		4,236		—		4,825
Securities lending collateral	—		1,299		—		1,299
Investment derivatives	54		—		—		54
Derivatives designated as hedging instruments	—		136		—		136

Separate account assets	5,482		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 instruments	37		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 at December 31, 2023, measured using NAV as a practical expedient.

(2)Excluded from the table above are Private equities of $14,078 million at December 31, 2023, measured using NAV as a practical expedient.

(3)Refer to Note 10 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).



Three Months Ended March 31, 2024 (in millions of U.S. dollars)	Available-for-Sale Debt Securities						Equity securities	Short-term investments
	Non-U.S.		Corporate and asset- backed securities		Mortgage-backed securities

Balance, beginning of period	$	692	$	2,622	$	7		$	87	$	3
Transfers into Level 3	1		1		—			—		—
Transfers out of Level 3	(4)		(3)		—			—		—
Change in Net Unrealized Gains (Losses) in OCI	14		6		—			—		—
Net Realized Gains (Losses)	—		—		—			(3)		—
Purchases	72		143		—			18		4
Sales	(20)		(20)		—			(1)		—
Settlements	(37)		(91)		—			—		(2)

Balance, end of period	$	718	$	2,658	$	7		$	101	$	5
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	—	$	—		$	(2)	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date	$	13	$	6	$	—		$	—	$	—



Three Months Ended March 31, 2023 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	564		$	2,449		$	11	$	90	$	3

Transfers out of Level 3		—			(11)			—		—		—
Change in Net Unrealized Gains (Losses) in OCI		(4)			(2)			—		—		(1)

Net Realized Gains (Losses)		—			2			—		(4)		—

Purchases		43			205			—		7		5
Sales		(31)			(20)			—		(5)		—
Settlements		(11)			(79)			(1)		—		—

Balance, end of period		$	561		$	2,544		$	10	$	88	$	7
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	4		$	—	$	(3)	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	(6)		$	(5)		$	—	$	—	$	(1)

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

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


March 31, 2024	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,733	$	2,733	$	2,708
Total assets	$	—	$	—	$	2,733	$	2,733	$	2,708
Liabilities:
Repurchase agreements	$	—	$	3,022	$	—	$	3,022	$	3,022
Short-term debt	—		2,228		—		2,228		2,265
Long-term debt	—		11,930		—		11,930		13,248
Trust preferred securities	—		365		—		365		309
Total liabilities	$	—	$	17,545	$	—	$	17,545	$	18,844


December 31, 2023	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,560	$	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
Trust preferred securities	—		365		—		365		308
Total liabilities	$	—	$	16,553	$	—	$	16,553	$	17,636

Reinsurance (Tables)

3 Months Ended

Mar. 31, 2024

Reinsurance Disclosures [Abstract]

schedule of reinsurance recoverable on ceded insurance


	March 31, 2024				December 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	$	17,163	$	290	$	17,884	$	285
Reinsurance recoverable on paid losses and loss expenses	1,946		85		2,068		82
Reinsurance recoverable on losses and loss expenses	$	19,109	$	375	$	19,952	$	367
Reinsurance recoverable on policy benefits	$	272	$	—	$	280	$	—

(1)Net of valuation allowance for uncollectible reinsurance.

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

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Valuation allowance for uncollectible reinsurance - beginning of period	$	367	$	351
Provision for uncollectible reinsurance	8		5
Write-offs charged against the valuation allowance	—		(5)


Valuation allowance for uncollectible reinsurance - end of period	$	375	$	351

Deferred acquisition costs (Tables)

3 Months Ended

Mar. 31, 2024

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

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


	Three Months Ended March 31, 2024

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	402	$	674	$	534	$	1,301	$	274	$	3,185

Capitalizations	47		33		85		158		16		339
Amortization expense	(28)		(20)		(8)		(41)		(7)		(104)

Other (including foreign exchange)	(8)		1		(3)		3		(2)		(9)
Balance - end of period	$	413	$	688	$	608	$	1,421	$	281	$	3,411
Overseas General Insurance segment excluded from table											616
Total deferred acquisition costs on long-duration contracts											$	4,027


	Three Months Ended March 31, 2023

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	324	$	639	$	392	$	891	$	268	$	2,514

Capitalizations	42		25		28		123		4		222
Amortization expense	(24)		(19)		(5)		(30)		(6)		(84)

Other (including foreign exchange)	7		(1)		9		(15)		(1)		(1)
Balance - end of period	$	349	$	644	$	424	$	969	$	265	$	2,651
Overseas General Insurance segment excluded from table											642
Total deferred acquisition costs on long-duration contracts											$	3,293

Unpaid losses and loss expenses (Tables)

3 Months Ended

Mar. 31, 2024

Liability for Claims and Claims Adjustment Expense [Abstract]

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

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023

Gross unpaid losses and loss expenses – beginning of period	$	80,122	$	75,747
Reinsurance recoverable on unpaid losses – beginning of period (1)	(17,884)		(17,086)
Net unpaid losses and loss expenses – beginning of period	62,238		58,661
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	5,980		5,336
Prior years (2)	(253)		(188)
Total	5,727		5,148
Net losses and loss expenses paid in respect of losses occurring in:
Current year	767		805
Prior years	4,055		3,911
Total	4,822		4,716

Foreign currency revaluation and other	35		(196)
Net unpaid losses and loss expenses – end of period	63,178		58,897
Reinsurance recoverable on unpaid losses (1)	17,163		16,520
Gross unpaid losses and loss expenses – end of period	$	80,341	$	75,417

(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 $46 million and $(8) million for the three months ended March 31, 2024 and 2023, respectively.

Prior Period Development, by Segment [Table Text Block]

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


	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail		Short-tail		Total
2024
North America Commercial P&C Insurance	$	96	$	(144)	$	(48)
North America Personal P&C Insurance	—		(52)		(52)
North America Agricultural Insurance	—		(28)		(28)
Overseas General Insurance	(1)		(88)		(89)
Global Reinsurance	—		1		1
Corporate	9		—		9
Total	$	104	$	(311)	$	(207)
2023
North America Commercial P&C Insurance	$	9	$	(81)	$	(72)
North America Personal P&C Insurance	—		17		17
North America Agricultural Insurance	—		—		—
Overseas General Insurance	—		(143)		(143)
Global Reinsurance	—		(8)		(8)
Corporate	10		—		10
Total	$	19	$	(215)	$	(196)

Future policy benefits (Tables)

3 Months Ended

Mar. 31, 2024

Liability for Future Policy Benefits Activity [Abstract]

Liability for Future Policy Benefit, Activity

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


Present Value of Expected Net Premiums	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,590	$	3,950	$	10,432	$	64	$	16,036
Beginning balance at original discount rate	1,992		3,945		10,692		64		16,693
Effect of changes in cash flow assumptions	6		70		109		—		185
Effect of actual variances from expected experience	(1)		22		(37)		—		(16)
Adjusted beginning of period balance	1,997		4,037		10,764		64		16,862

Issuances	65		295		697		2		1,059
Interest accrual	14		27		133		—		174
Net premiums collected (1)	(57)		(310)		(363)		(7)		(737)

Other (including foreign exchange)	(5)		(4)		82		—		73
Ending balance at original discount rate	2,014		4,045		11,313		59		17,431
Effect of changes in discount rate assumptions	(407)		18		(295)		—		(684)
Balance – end of period	$	1,607	$	4,063	$	11,018	$	59	$	16,747

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


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,254	$	10,063	$	14,650	$	495	$	27,462
Beginning balance at original discount rate	2,749		9,991		15,071		492		28,303
Effect of changes in cash flow assumptions	8		86		100		—		194
Effect of actual variances from expected experience	3		27		(36)		—		(6)
Adjusted beginning of period balance	2,760		10,104		15,135		492		28,491

Issuances	65		295		697		2		1,059
Interest accrual	19		74		164		3		260
Benefits payments	(59)		(87)		(398)		(6)		(550)

Other (including foreign exchange)	30		(2)		114		21		163
Ending balance at original discount rate	2,815		10,384		15,712		512		29,423
Effect of changes in discount rate assumptions	(516)		184		(487)		18		(801)
Balance – end of period	$	2,299	$	10,568	$	15,225	$	530	$	28,622


Liability for Future Policy Benefits, Life Insurance Segment	March 31, 2024
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	692	$	6,505	$	4,207	$	471	$	11,875
Deferred profit liability	254		904		174		19		1,351
Net liability for future policy benefits, before reinsurance recoverable	946		7,409		4,381		490		13,226
Less: Reinsurance recoverable on future policy benefits	107		45		113		1		266
Net liability for future policy benefits, after reinsurance recoverable	$	839	$	7,364	$	4,268	$	489	$	12,960
Weighted average duration (years)	10.2		25.6		10.1		15.1		19.3


Present Value of Expected Net Premiums	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,806	$	2,308	$	10,711	$	42	$	14,867
Beginning balance at original discount rate	1,867		2,361		11,258		43		15,529
Effect of changes in cash flow assumptions	17		(1)		(786)		1		(769)
Effect of actual variances from expected experience	(6)		(8)		(89)		(1)		(104)
Adjusted beginning of period balance	1,878		2,352		10,383		43		14,656

Issuances	36		69		288		1		394
Interest accrual	28		18		125		—		171
Net premiums collected (1)	(44)		(82)		(327)		(6)		(459)


Other (including foreign exchange)	35		8		(139)		1		(95)
Ending balance at original discount rate	1,933		2,365		10,330		39		14,667
Effect of changes in discount rate assumptions	(48)		(8)		(263)		—		(319)
Balance – end of period	$	1,885	$	2,357	$	10,067	$	39	$	14,348

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


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,321	$	5,696	$	15,038	$	269	$	23,324
Beginning balance at original discount rate	2,447		5,874		15,855		280		24,456
Effect of changes in cash flow assumptions	20		(1)		(798)		3		(776)
Effect of actual variances from expected experience	(3)		(7)		(87)		(1)		(98)
Adjusted beginning of period balance	2,464		5,866		14,970		282		23,582

Issuances	36		69		288		1		394
Interest accrual	32		52		156		2		242
Benefit payments	(46)		(65)		(362)		(3)		(476)

Other (including foreign exchange)	72		28		(153)		(14)		(67)
Ending balance at original discount rate	2,558		5,950		14,899		268		23,675
Effect of changes in discount rate assumptions	(118)		(42)		(463)		—		(623)
Balance – end of period	$	2,440	$	5,908	$	14,436	$	268	$	23,052


Liability for Future Policy Benefits, Life Insurance Segment	March 31, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	555	$	3,551	$	4,369	$	229	$	8,704
Deferred profit liability	223		581		135		13		952
Net liability for future policy benefits, before reinsurance recoverable	778		4,132		4,504		242		9,656
Less: Reinsurance recoverable on future policy benefits	105		33		112		—		250
Net liability for future policy benefits, after reinsurance recoverable	$	673	$	4,099	$	4,392	$	242	$	9,406
Weighted average duration (years)	9.4		25.3		10.7		14.5		17.7

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


	March 31
(in millions of U.S. dollars)	2024		2023
Net liability for future policy benefits, Life Insurance segment	$	11,875	$	8,704
Other (1)	1,149		1,126
Deferred profit liability	1,351		952
Liability for future policy benefits, per consolidated balance sheet	$	14,375	$	10,782

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

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


	March 31		March 31
(in millions of U.S. dollars)	2024		2023

Term Life
Undiscounted expected future benefit payments	$	4,358	$	4,041
Undiscounted expected future gross premiums	7,291		6,452
Discounted expected future benefit payments	2,299		2,440
Discounted expected future gross premiums	3,909		3,773
Whole Life
Undiscounted expected future benefit payments	24,834		16,446
Undiscounted expected future gross premiums	9,593		6,895
Discounted expected future benefit payments	10,568		5,908
Discounted expected future gross premiums	7,774		5,398
A&H
Undiscounted expected future benefit payments	26,475		23,186
Undiscounted expected future gross premiums	39,002		33,809
Discounted expected future benefit payments	15,225		14,436
Discounted expected future gross premiums	22,975		20,766
Other
Undiscounted expected future benefit payments	901		342
Undiscounted expected future gross premiums	94		97
Discounted expected future benefit payments	530		268
Discounted expected future gross premiums	$	83	$	87

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 Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2024		2023		2024		2023
Life Insurance
Term Life	$	167	$	160	$	5	$	4

Whole Life	530		230		47		34
A&H	753		733		31		31
Other	20		17		3		2
Total	$	1,470	$	1,140	$	86	$	71

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


	Interest Accretion Rate				Current Discount Rate

	March 31				March 31
	2024		2023		2024		2023
Life Insurance
Term Life	2.9	%	2.8	%	5.7	%	5.7	%

Whole Life	3.2	%	4.0	%	4.5	%	5.2	%
A&H	3.7	%	3.8	%	6.3	%	6.2	%
Other	2.6	%	3.8	%	3.8	%	4.8	%

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

3 Months Ended

Mar. 31, 2024

Policyholder Account Balance [Abstract]

Policyholder Account Balances

Policyholders' account balances

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


	Three Months Ended March 31, 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	72		131		131		334
Policy charges (1)	(34)		—		(2)		(36)
Surrenders and withdrawals	(32)		(10)		(77)		(119)
Benefit payments (4)	(54)		(59)		(3)		(116)

Interest credited	13		16		14		43
Other (including foreign exchange)	(1)		(5)		(9)		(15)
Balance – end of period	$	1,840	$	2,484	$	2,556	$	6,880
Unearned revenue liability							680
Policyholders' account liability, per consolidated balance sheet							$	7,560

(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)Other 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.


	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Universal Life		Other (2)		Total
Balance – beginning of period	$	1,199	$	1,374	$	2,573


Premiums received	50		18		68
Policy charges (1)	(30)		(4)		(34)
Surrenders and withdrawals	(15)		(8)		(23)
Benefit payments (3)	(4)		(6)		(10)

Interest credited	8		8		16
Other (including foreign exchange)	—		3		3
Balance – end of period	$	1,208	$	1,385	$	2,593
Unearned revenue liability					585
Policyholders' account liability, per consolidated balance sheet					$	3,178

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

(3)Includes benefit payments upon maturity as well as death benefits.



	March 31
	2024									2023
(in millions of U.S. dollars, except for percentages)	Universal Life			Annuities			Other			Universal Life			Other
Weighted-average crediting rate	2.9		%	2.6		%	2.5		%	2.6		%	3.0		%
Net amount at risk (1)	$	12,014		$	—		$	499		$	11,394		$	156
Cash Surrender Value	$	1,623		$	1,605		$	2,239		$	1,005		$	1,075

(1)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


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	482	$	—	$	39	$	49	$	570
2.01% – 4.00%	67		461		728		—		1,256
Greater than 4.00%	14		—		—		—		14
Total	$	563	$	461	$	767	$	49	$	1,840


	March 31, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	455	$	—	$	32	$	7	$	494
2.01% – 4.00%	69		345		280		—		694
Greater than 4.00%	20		—		—		—		20
Total	$	544	$	345	$	312	$	7	$	1,208

Annuities


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	720	$	—	$	1,624	$	1	$	2,345
2.01% – 4.00%	139		—		—		—		139
Greater than 4.00%	—		—		—		—		—
Total	$	859	$	—	$	1,624	$	1	$	2,484

Other policyholders' account balances


	March 31, 2024
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	789	$	—	$	243	$	533	$	1,565
2.01% – 4.00%	378		613		—		—		991
Greater than 4.00%	—		—		—		—		—
Total	$	1,167	$	613	$	243	$	533	$	2,556


	March 31, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	446	$	—	$	212	$	295	$	953
2.01% – 4.00%	384		43		—		—		427
Greater than 4.00%	5		—		—		—		5
Total	$	835	$	43	$	212	$	295	$	1,385

Fair Value, Separate Account Investment

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


	March 31		March 31
(in millions of U.S. dollars)	2024		2023
Cash and cash equivalents	$	76	$	116

Mutual funds	5,699		5,082

Fixed maturities	89		102

Total	$	5,864	$	5,300

Separate Account, Liability

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Balance – beginning of period	$	5,573	$	5,190

Premiums and deposits	264		266
Policy charges	(43)		(35)
Surrenders and withdrawals	(210)		(111)
Benefit payments	(105)		(99)
Investment performance	375		110

Other (including foreign exchange)	10		(21)
Balance – end of period	$	5,864	$	5,300
Cash surrender value (1)	$	5,655	$	5,030

(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:


	Three Months Ended March 31
(in millions of U.S. dollars)	2024		2023
Balance – beginning of period	$	673	$	567
Deferred revenue	34		32
Amortization	(18)		(14)

Other (including foreign exchange)	(9)		—
Balance – end of period	$	680	$	585

Market risk benefits (Tables)

3 Months Ended

Mar. 31, 2024

Market Risk Benefit [Abstract]

Market Risk Benefit, Activity

The following table presents a roll-forward of MRB:


	Three Months Ended March 31
(in millions of U.S. dollars)	2024		2023
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	(57)		63
Effect of changes in equity markets	(77)		(75)
Effect of changes in volatilities	(20)		57
Actual policyholder behavior different from expected behavior	30		(2)


Effect of timing and all other	(31)		(16)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	594	$	803
Effect of changes in the instrument-specific credit risk	17		27
Balance – end of period	$	611	$	830
Weighted-average age of policyholders (years)	74		73
Net amount at risk (1)	$	1,683	$	2,296

(1) The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.

Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations

For MRB, Chubb estimates fair value using an internal valuation model which includes a number of factors including interest rates, equity markets, credit risk, current account value, market volatility, expected annuitization rates and other policyholder behavior, and changes in policyholder mortality. All reinsurance treaties contain claim limits, which are also factored into the valuation model.

Valuation Technique

Significant Unobservable Inputs

March 31, 2024

March 31, 2023

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

0.5% – 30.0%

4.3

%

0.5% – 30.4%

4.0

%

Annuitization rate

0% – 100%

4.2

%

0% – 100%

4.4

%

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

Commitments, contingencies, and guarantees (Tables)

3 Months Ended

Mar. 31, 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 of derivative instruments in an asset or (liability) position, and notional value/payment provision of our derivative instruments:


				March 31, 2024								December 31, 2023
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision			Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)				Derivative Asset			Derivative (Liability)
Investment and embedded derivatives not designated as hedging instruments:
Foreign currency forward contracts	OA / (AP)	$	23	$	(135)	$	3,647		$	27		$	(94)	$	3,662
Options/Futures contracts on notes and bonds	OA / (AP)	5		(9)		1,746			27			(42)		2,062
Convertible securities (1)	FM AFS / ES	64		—		69			56			—		64
		$	92	$	(144)	$	5,462		$	110		$	(136)	$	5,788
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	—	$	(22)	$	1,162		$	—		$	(37)	$	1,157
Other	OA / (AP)	1		(6)		269			—			(5)		217
		$	1	$	(28)	$	1,431		$	—		$	(42)	$	1,374
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	133	$	—	$	1,642		$	126		$	—	$	1,631
Cross-currency swaps - net investment hedges	OA / (AP)	16		(110)		1,625			10			(128)		1,619
		$	149	$	(110)	$	3,267		$	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


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2024		2023
Gain (loss) recognized in OCI	$	(8)	$	(17)
Net realized gain (loss) reclassified from OCI	(37)		20
Interest expense reclassified from OCI	(4)		(4)
OCI gain (loss) after reclassifications	$	33	$	(33)

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


	Three Months Ended
	March 31
(pre-tax, in millions of U.S. dollars)	2024		2023
Gain (loss) recognized in OCI	$	36	$	(23)
Interest income reclassified from OCI	3		3
OCI gain (loss) after reclassifications	$	33	$	(26)

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

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(52)	$	(51)

All other futures contracts, options, and equities	6		5
Convertible securities (1)	3		—

Total investment and embedded derivative instruments	$	(43)	$	(46)
Other derivative instruments:
Futures contracts on equities (2)	(95)		(57)
Other	(2)		(1)
Total other derivative instruments	$	(97)	$	(58)
	$	(140)	$	(104)

(1)Includes embedded derivatives.

(2)Related to MRB book of business.

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

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


	Remaining contractual maturity

	March 31, 2024		December 31, 2023
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	698	$	555
U.S. Treasury / Agency	275		33
Non-U.S.	654		621
Corporate and asset-backed securities	60		57

Municipal	4		6
Equity securities	17		27

	$	1,708	$	1,299
Gross amount of recognized liability for securities lending payable	$	1,708	$	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
	March 31, 2024				December 31, 2023
	Up to 30 Days		30-90 Days		Total		Up to 30 Days		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	—	$	4	$	4	$	—	$	33	$	1	$	34
Non-U.S.	1,579		—		1,579		1,355		—		—		1,355
U.S. Treasury / Agency	—		100		100		—		105		—		105


Mortgage-backed securities	488		926		1,414		—		913		517		1,430
	$	2,067	$	1,030	$	3,097	$	1,355	$	1,051	$	518	$	2,924
Gross amount of recognized liabilities for repurchase agreements					$	3,022							$	2,833
Difference (1)					$	75							$	91

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

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Share Repurchase Program [Table Text Block]

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


	Three Months Ended			April 1,2024 through April 25, 2024
	March 31
(in millions of U.S. dollars, except share data)		2024				2023
Number of shares repurchased		1,220,121		2,010,400			250,000
Cost of shares repurchased		$	316	$	428		$	62
Repurchase authorization remaining at end of period		$	3,373	$	1,193		$	3,312

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)		2024		2023
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax		$	(4,177)	$	(7,279)
Change in period, before reclassification from AOCI (before tax)		(796)		1,606
Amounts reclassified from AOCI (before tax)		119		180
Change in period, before tax		(677)		1,786
Income tax (expense) benefit		42		(166)
Total other comprehensive income (loss)		(635)		1,620
Noncontrolling interests, net of tax		13		—
Balance – end of period, net of tax		(4,825)		(5,659)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax		51		(75)
Change in period, before tax		(53)		(151)
Income tax (expense) benefit		(20)		21
Total other comprehensive loss		(73)		(130)
Noncontrolling interests, net of tax		(33)		—
Balance – end of period, net of tax		11		(205)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax		(22)		(24)
Change in period, before and net of tax		5		(3)
Total other comprehensive income (loss)		5		(3)
Noncontrolling interests, net of tax		—		—
Balance – end of period, net of tax		(17)		(27)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax		(2,945)		(2,966)
Change in period, before reclassification from AOCI (before tax)		83		(174)
Amounts reclassified from AOCI (before tax)		(3)		(3)
Change in period, before tax		80		(177)
Income tax (expense) benefit		(7)		7
Total other comprehensive income (loss)		73		(170)
Noncontrolling interests, net of tax		(8)		—
Balance – end of period, net of tax		(2,864)		(3,136)


	Three Months Ended
	March 31
(in millions of U.S. dollars)		2024		2023
Accumulated other comprehensive income (loss) (AOCI) - continued
Fair value hedging instruments
Balance – beginning of period, net of tax		(13)		(66)
Change in period, before reclassification from AOCI (before tax)		(8)		(17)
Amounts reclassified from AOCI (before tax)		41		(16)
Change in period, before tax		33		(33)
Income tax (expense) benefit		(7)		7
Total other comprehensive income (loss)		26		(26)
Noncontrolling interests, net of tax		—		—
Balance – end of period, net of tax		13		(92)
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax		297		225
Change in period, before tax		(2)		—
Income tax (expense) benefit		1		(1)
Total other comprehensive loss		(1)		(1)
Noncontrolling interests, net of tax		—		—
Balance – end of period, net of tax		296		224
Accumulated other comprehensive loss		$	(7,386)	$	(8,895)

Reclassification out of Accumulated Other Comprehensive Income

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


	Three Months Ended			Consolidated Statement of Operations Location
	March 31
(in millions of U.S. dollars)		2024				2023
Fixed maturities available-for-sale		$	(119)	$	(180)		Net realized gains (losses)
Income tax benefit		12		18			Income tax expense
		$	(107)	$	(162)		Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps		$	3	$	3		Interest expense
Income tax expense		(1)		(1)			Income tax expense
		$	2	$	2		Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps		$	(37)	$	20		Net realized gains (losses)
Cross-currency swaps		(4)		(4)			Interest expense
Income tax (expense) benefit		9		(3)			Income tax expense
		$	(32)	$	13		Net income
Total amounts reclassified from AOCI		$	(137)	$	(147)

Postretirement benefits (Tables)

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

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


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2024				2023				2024		2023
Three Months Ended March 31	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	2	$	—	$	2	$	—	$	—
Non-service cost (benefit):
Interest cost	33		9		34		9		1		—
Expected return on plan assets	(61)		(13)		(56)		(12)		(1)		(1)
Amortization of net actuarial (gain) loss	—		1		—		—		(1)		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(28)		(3)		(22)		(3)		(1)		(1)
Net periodic benefit cost (benefit)	$	(28)	$	(1)	$	(22)	$	(1)	$	(1)	$	(1)

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended March 31	2024		2023		2024		2023
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		2		—		—
Total service cost	2		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(3)		(2)		—		—
Administrative expenses	(28)		(23)		(1)		(1)
Total non-service cost (benefit)	(31)		(25)		(1)		(1)
Net periodic benefit cost (benefit)	$	(29)	$	(23)	$	(1)	$	(1)

Other Income and Expense (Tables)

3 Months Ended

Mar. 31, 2024

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2024		2023
Equity in net income (loss) of partially-owned entities	$	184	$	340
Gains (losses) from fair value changes in separate account assets (1)	10		(25)
Asset management and performance fee revenue	53		—
Asset management and performance fee expense	(33)		—
Federal excise and capital taxes	(4)		(5)
Other	(19)		(14)
Total	$	191	$	296

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

Segment information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:


For the Three Months Ended March 31, 2024 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,689	$	1,456	$	249	$	3,835	$	359	$	1,633	$	—	$	—	$	12,221
Net premiums earned	4,880		1,471		128		3,198		295		1,611		—		—		11,583
Losses and loss expenses	3,175		899		49		1,426		137		32		10		(1)		5,727
Policy benefits	—		—		—		100		—		1,070		—		10		1,180
Policy acquisition costs	688		300		21		823		81		294		—		—		2,207
Administrative expenses	328		86		2		331		9		207		107				1,070
Underwriting income (loss)	689		186		56		518		68		8		(117)		(9)		1,399
Net investment income	826		102		21		267		57		230		(26)		(86)		1,391
Other (income) expense	7		1		—		5		—		(40)		(68)		(96)		(191)
Amortization expense of purchased intangibles	—		2		6		20		—		10		42		—		80
Segment income (loss)	$	1,508	$	285	$	71	$	760	$	125	$	268	$	(117)	$	1	$	2,901
Net realized gains (losses)													(100)		(1)		(101)
Market risk benefits gains (losses)													21		—		21
Interest expense													178		—		178
Cigna integration expenses													7		—		7
Income tax expense													342		—		342
Net income (loss)													(723)		—		2,294
Net loss attributable to noncontrolling interests													151		—		151
Net income (loss) attributable to Chubb													$	(874)	$	—	$	2,143


For the Three Months Ended March 31, 2023 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,288	$	1,296	$	293	$	3,263	$	277	$	1,293	$	—	$	—	$	10,710
Net premiums earned	4,369		1,320		159		2,786		244		1,264		—		—		10,142
Losses and loss expenses	2,729		888		140		1,237		112		32		11		(1)		5,148
Policy benefits	—		—		—		110		—		712		—		(25)		797
Policy acquisition costs	613		272		15		713		62		273		—		—		1,948
Administrative expenses	295		79		3		280		9		167		97		—		930
Underwriting income (loss)	732		81		1		446		61		80		(108)		26		1,319
Net investment income	698		82		17		188		49		153		11		(91)		1,107
Other (income) expense	7		1		1		(9)		(1)		(15)		(214)		(66)		(296)
Amortization expense of purchased intangibles	—		2		6		18		—		4		42		—		72
Segment income	$	1,423	$	160	$	11	$	625	$	111	$	244	$	75	$	1	$	2,650
Net realized gains (losses)													(76)		(1)		(77)
Market risk benefits gains (losses)													(115)		—		(115)
Interest expense													160		—		160
Cigna integration expenses													22		—		22
Income tax expense													384		—		384
Net income (loss)													$	(682)	$	—	$	1,892

Earnings per share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended
	March 31
(in millions of U.S. dollars, except share and per share data)		2024		2023
Numerator:
Net income		$	2,294	$	1,892
Net income attributable to noncontrolling interests		151		—
Net income attributable to Chubb		$	2,143	$	1,892
Denominator:
Denominator for basic earnings per share attributable to Chubb:
Weighted-average shares outstanding		405,662,694		414,289,150
Denominator for diluted earnings per share attributable to Chubb:
Share-based compensation plans		4,076,941		3,639,042
Weighted-average shares outstanding and assumed conversions		409,739,635		417,928,192
Basic earnings per share attributable to Chubb		$	5.28	$	4.57
Diluted earnings per share attributable to Chubb		$	5.23	$	4.53
Potential anti-dilutive share conversions		1,005,420		1,731,523

General and significant accounting policies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Jul. 01, 2023
General and significant accounting policies [Line Items]
Goodwill, Period Increase (Decrease)	$ 10
Huatai Group
General and significant accounting policies [Line Items]
Subsidiary, Ownership Percentage, Parent	85.50%	76.50%	69.60%

Acquisitions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Acquisitions (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Jul. 01, 2023	Jun. 30, 2023
Huatai Group
Business Acquisition [Line Items]
Subsidiary, Ownership Percentage, Parent	85.50%	76.50%	69.60%
Additional 9.0 percent ownership interest obtained in subsidiary	9.00%
Outstanding 0.6 percent additional ownership interest agreed on	0.60%
Huatai Group
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage				64.20%
Huatai Group
Business Acquisition [Line Items]
Payments to Acquire Additional Interest in Subsidiaries	$ 236
Deposits previously paid on additional ownership interest obtained	319
Deposits previously paid on additional ownership interest agreed on	12
Outstanding payment to be made on additional ownership interest agreed on	24
Payment on additional ownership interest obtained, including deposits previously paid	$ 555

Acquisitions (Pro forma) (Details) - USD ($) $ in Millions	3 Months Ended
Acquisitions (Pro forma) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Net premiums earned	$ 11,583	$ 10,142
Huatai Group \| Pro Forma
Business Acquisition [Line Items]
Net premiums earned		10,553
Total revenues		11,529
Net income		1,900
Net income attributable to Chubb		$ 1,890

Investments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments [Line Items]
Restricted assets in fixed maturities and short-term investments	$ 18,568	$ 18,242
Restricted assets in cash	143	172
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure	140	$ 153
Investments
Investments [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 543

Investments (Schedule Of Amortized Cost and Fair Value of Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 113,479	$ 111,128
Debt Securities, Available-for-sale, Allowance for Credit Loss	(115)	(156)	$ (168)	$ (169)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1,012	1,148
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(6,087)	(5,549)
Available for sale, Fair Value	108,289	106,571
U.S. Treasury / Agency
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3,058	3,721
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	5	13
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(164)	(144)
Available for sale, Fair Value	2,899	3,590
Non-U.S.
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	36,962	35,918
Debt Securities, Available-for-sale, Allowance for Credit Loss	(41)	(49)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	605	592
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,381)	(1,297)
Available for sale, Fair Value	36,145	35,164
Corporate and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	45,567	44,695
Debt Securities, Available-for-sale, Allowance for Credit Loss	(73)	(104)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	306	390
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,353)	(2,151)
Available for sale, Fair Value	43,447	42,830
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	25,696	23,720
Debt Securities, Available-for-sale, Allowance for Credit Loss	(1)	(3)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	89	143
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,029)	(1,802)
Available for sale, Fair Value	23,755	22,058
Municipal
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	2,196	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	(160)	(155)
Available for sale, Fair Value	$ 2,043	$ 2,929

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 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	$ 4,521	$ 4,729
Available for sale, Due after 1 year through 5 years, Fair Value & Net Carrying Value	33,533	33,573
Available for sale, Due after 5 years through 10 years, Fair Value & Net Carrying Value	28,198	28,480
Available for sale, Due after 10 years, Fair Value & Net Carrying Value	18,282	17,731
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	84,534	84,513
Available for sale, Mortgage backed securities, Fair Value & Net Carrying Value	23,755	22,058
Available for sale, Fair Value	$ 108,289	$ 106,571

Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Details) - USD ($) $ in Millions	Mar. 31, 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	$ 14,450	$ 8,569
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(242)	(176)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	52,582	53,950
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(4,784)	(4,129)
Debt Securities, Available-for-sale, Unrealized Loss Position	67,032	62,519
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(5,026)	(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	632	463
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(13)	(9)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	2,007	2,504
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(151)	(135)
Debt Securities, Available-for-sale, Unrealized Loss Position	2,639	2,967
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(164)	(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	3,793	2,464
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(64)	(43)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	15,928	15,971
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,079)	(957)
Debt Securities, Available-for-sale, Unrealized Loss Position	19,721	18,435
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,143)	(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	4,675	2,866
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(71)	(51)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	19,646	20,334
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,487)	(1,194)
Debt Securities, Available-for-sale, Unrealized Loss Position	24,321	23,200
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,558)	(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	4,907	1,659
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(82)	(58)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	13,783	13,831
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,919)	(1,706)
Debt Securities, Available-for-sale, Unrealized Loss Position	18,690	15,490
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(2,001)	(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	443	1,117
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(12)	(15)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,218	1,310
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(148)	(137)
Debt Securities, Available-for-sale, Unrealized Loss Position	1,661	2,427
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (160)	$ (152)

Investments (Rollforward of expected credit-losses, AFS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available for sale, Allowance for Credit Loss	$ 115	$ 168	$ 156	$ 169
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	31	59
Debt Securities, Available-for-sale, Allowance for Credit Loss, Writeoff	(5)	(2)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	$ (67)	$ (58)

Investments (Rollforward of expected credit losses HTM) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held to maturity, Allowance for Credit Loss	$ 0	$ 33	$ 0	$ 34
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Recovery	$ 0	$ (1)

Investments (Rollforward of expected credit losses Private Debt HFI) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Private Debt, Held-for-investment, Allowance for Credit Loss [Line Items]
Private debt held-to-maturity, amortized cost	$ 5	$ 0	$ 4	$ 0
Allowance for Loan and Lease Losses, Period Increase (Decrease)	$ 1	$ 0

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Net realized gains (losses)

$ (101)

$ (77)

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

31

59

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

49

(180)

Foreign exchange

(131)

131

Fixed Maturities [Member]

(140)

(104)

Other

(8)

(7)

Debt Securities, Available-for-Sale, Realized Gain (Loss), Excluding Other-than-temporary Impairment

16

2

Debt Securities, Available-for-Sale, Realized Loss, Excluding Other-than-temporary Impairment

(141)

(159)

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

40

2

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

^[1]

(34)

(25)

Equity Securities

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

3

11

Net realized gains (losses)

168

0

Alternative Investment

Net realized gains (losses)

31

15

Investment and embedded derivative instruments

(2)

(1)

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

$ (43)

$ (46)

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

Investments Schedule of Gains and Losses on Equity and Other Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	$ (101)	$ (77)
Equity Securities
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	3	11
Less: Net gains (losses) recognized from sales of securities	(3)	(5)
Unrealized Gain (Loss) on Investments	6	16
Other Investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	168	0
Less: Net gains (losses) recognized from sales of securities	0
Unrealized Gain (Loss) on Investments	168
Alternative Investment
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	31	15
Less: Net gains (losses) recognized from sales of securities	0	0
Unrealized Gain (Loss) on Investments	31	15
Equity securities and other investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	202	26
Less: Net gains (losses) recognized from sales of securities	(3)	(5)
Unrealized Gain (Loss) on Investments	$ 205	$ 31

Investments Entities that Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	$ 14,281	$ 14,078
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	5,905	6,210
Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	1,289	1,241
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	341	364
Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	2,095	2,137
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	424	445
Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	1,218	1,206
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	928	936
Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	328	331
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	296	298
Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	9,052	8,873
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	3,916	4,167
Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	67	72
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	0	0
Investment Funds Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Private equities	232	218
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	$ 0	$ 0
Minimum \| Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	3 years	3 years
Minimum \| Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	1 year	1 year
Maximum \| Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	10 years	10 years
Maximum \| Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	13 years	13 years
Maximum \| Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	8 years	8 years
Maximum \| Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	8 years	8 years
Maximum \| Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	14 years	14 years
Maximum \| Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	3 years	3 years

Investments (Schedule Of Components Of Restricted Assets) (Detail) - Asset Pledged as Collateral without Right - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments [Line Items]
Trust funds	$ 8,626	$ 8,482
Deposits with U.S. regulatory authorities	2,488	2,544
Deposits with non-U.S. regulatory authorities	3,595	3,584
Assets pledged under repurchase agreements	3,097	2,924
Other pledged assets	905	880
Total restricted assets	$ 18,711	$ 18,414

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

Mar. 31, 2024

Dec. 31, 2023

Mar. 31, 2023

$ 108,289

$ 106,571

3,769

3,455

5,107

4,551

6,216

5,527

1,708

1,299

5,864

5,573

$ 5,300

Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value

611

771

Private equities

14,281

14,078

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

Private equities

14,281

14,078

Policy Loans

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

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

736

702

U.S. Treasury / Agency

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

2,899

3,590

Non-U.S.

Corporate and asset-backed securities

36,145

35,164

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

Mortgage-backed securities

43,447

42,830

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

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

23,755

22,058

Municipal

Level 1 | Fair Value, Recurring

2,043

2,929

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

2,251

2,911

3,668

3,368

3,292

1,915

583

^[1]

589

^[2]

0

28

54

0

1

5,775

5,482

15,598

^[1],[3]

14,319

^[2],[4]

144

136

0

22

37

0

^[5]

0

^[6]

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

166

173

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

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

2,251

2,911

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

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

0

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

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

0

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

Level 1 | Municipal | Fair Value, Recurring

0

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

Level 2 | Fair Value, Recurring

0

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

102,655

100,339

0

1,810

2,633

4,897

^[1]

4,236

^[2]

1,708

1,299

0

149

136

0

89

91

111,308

^[1],[3]

108,734

^[2],[4]

0

110

128

6

5

0

^[5]

0

^[6]

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

116

133

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

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

648

679

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

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

35,427

34,472

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

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

40,789

40,208

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

Level 2 | Municipal | Fair Value, Recurring

23,748

22,051

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

Level 3 | Fair Value, Recurring

2,043

2,929

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

3,383

3,321

101

87

5

3

0

^[1]

0

^[2]

0

0

0

0

0

3,489

^[1],[3]

3,411

^[2],[4]

0

0

0

611

^[5]

771

^[6]

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

611

771

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

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

0

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

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

718

692

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

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

2,658

2,622

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

Level 3 | Municipal | Fair Value, Recurring

7

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

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

0

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

108,289

106,571

3,769

3,455

5,107

4,551

5,480

^[1]

4,825

^[2]

1,708

1,299

28

54

149

136

1

5,864

5,573

130,395

^[1],[3]

126,464

^[2],[4]

144

136

110

128

28

42

611

^[5]

771

^[6]

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

893

1,077

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

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

2,899

3,590

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

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

36,145

35,164

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

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

43,447

42,830

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

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

23,755

22,058

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

Reinsurance recoverable on unpaid losses and loss expenses

$ 2,043

$ 2,929

[1]	Excluded from the table above are other investments of $736 million, principally policy loans at March 31, 2024, measured using NAV as a practical expedient.
[2]	Excluded from the table above are other investments of $702 million, principally policy loans at December 31, 2023, measured using NAV as a practical expedient.
[3]	Excluded from the table above are Private equities of $14,281 million at March 31, 2024, measured using NAV as a practical expedient.
[4]	Excluded from the table above are Private equities of $14,078 million at December 31, 2023, measured using NAV as a practical expedient.
[5]	Refer to Note 10 for additional information on Market risk benefits.
[6]	Refer to Note 10 for additional information on Market risk benefits.

Fair value measurements (Assets, Measured At Fair Value Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss), before income tax	Other comprehensive income (loss), before income tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues
Level 3 \| Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	$ 87	$ 90
Transfers Into Level 3, Asset	0
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	0
Net Realized Gains/ (Losses), Assets	(3)	(4)
Purchases, Assets	18	7
Sales, Assets	(1)	(5)
Settlements, Assets	0	0
Balance-End of Period, Assets	101	88
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	(2)	(3)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	0	0
Level 3 \| Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	3	3
Transfers Into Level 3, Asset	0
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	(1)
Net Realized Gains/ (Losses), Assets	0	0
Purchases, Assets	4	5
Sales, Assets	0	0
Settlements, Assets	(2)	0
Balance-End of Period, Assets	5	7
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	0	(1)
Level 3 \| Available-for-Sale Debt Securities \| Non-U.S.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	692	564
Transfers Into Level 3, Asset	1
Transfers out of Level 3, Assets	(4)	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	14	(4)
Net Realized Gains/ (Losses), Assets	0	0
Purchases, Assets	72	43
Sales, Assets	(20)	(31)
Settlements, Assets	(37)	(11)
Balance-End of Period, Assets	718	561
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	13	(6)
Level 3 \| Available-for-Sale Debt Securities \| Corporate and asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	2,622	2,449
Transfers Into Level 3, Asset	1
Transfers out of Level 3, Assets	(3)	(11)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	6	(2)
Net Realized Gains/ (Losses), Assets	0	2
Purchases, Assets	143	205
Sales, Assets	(20)	(20)
Settlements, Assets	(91)	(79)
Balance-End of Period, Assets	2,658	2,544
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	4
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	6	(5)
Level 3 \| Available-for-Sale Debt Securities \| Mortgage-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	7	11
Transfers Into Level 3, Asset	0
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	0
Net Realized Gains/ (Losses), Assets	0	0
Purchases, Assets	0	0
Sales, Assets	0	0
Settlements, Assets	0	(1)
Balance-End of Period, Assets	7	10
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	$ 0	$ 0

Fair value measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	$ 2,708	$ 2,553
Total assets (preliminary)	234,867	230,682
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,022	2,833
Short-term debt	2,265	1,460
Long-term debt	13,248	13,035
Total liabilities	170,436	166,991
Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	0	0
Total assets (preliminary)	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
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	0	0
Total liabilities	0	0
Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	0	0
Total assets (preliminary)	0	0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,022	2,833
Short-Term Debt, Fair Value	2,228	1,431
Long-term Debt, Fair Value	11,930	11,924
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	365	365
Total liabilities	17,545	16,553
Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	2,733	2,560
Total assets (preliminary)	2,733	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
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	0	0
Total liabilities	0	0
Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	2,733	2,560
Total assets (preliminary)	2,733	2,560
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,022	2,833
Short-Term Debt, Fair Value	2,228	1,431
Long-term Debt, Fair Value	11,930	11,924
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	365	365
Total liabilities	17,545	16,553
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Private debt held-for-investment	2,708	2,553
Total assets (preliminary)	2,708	2,553
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,022	2,833
Short-term debt	2,265	1,460
Long-term debt	13,248	13,035
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	309	308
Total liabilities	$ 18,844	$ 17,636

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

Mar. 31, 2024

Dec. 31, 2023

Mar. 31, 2023

Dec. 31, 2022

Reinsurance Disclosures [Abstract]

^[1]

$ 17,163

$ 17,884

$ 16,520

$ 17,086

Reinsurance recoverable on paid losses and loss expenses

^[1]

1,946

2,068

Reinsurance recoverable on losses and loss expenses

^[1]

19,109

19,952

Reinsurance recoverable on policy benefits

^[1]

272

280

Reinsurance Recoverables on Unpaid Losses, Allowance

290

285

Reinsurance Recoverables on Paid Losses, Allowance

85

82

Reinsurance Recoverable, Allowance for Credit Loss, Total

375

367

$ 351

Reinsurance Recoverables on Future Policy Benefits, Allowance

$ 0

[1]	Net of valuation allowance for uncollectible reinsurance.

Reinsurance, Allowance (Details) - USD ($) $ in Millions	3 Months Ended
Reinsurance, Allowance (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Reinsurance Disclosures [Abstract]
Valuation allowance for uncollectible reinsurance - beginning of period	$ 367	$ 351
Provision for uncollectible reinsurance	8	5
Write-offs charged against the valuation allowance	0	(5)
Valuation allowance for uncollectible reinsurance - end of period	$ 375	$ 351

Deferred acquisition costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	$ 7,537
Balance – beginning of period	7,152
Amortization expense	(2,207)	$ (1,948)
Balance - end of period	7,537
Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(294)	(273)
Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(823)	(713)
Short-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	3,510	3,003
Balance - end of period	3,510	3,003
Long-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	4,027	3,293
Balance - end of period	4,027	3,293
Long-Duration Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	3,411	2,651
Balance – beginning of period	3,185	2,514
Capitalizations	339	222
Amortization expense	(104)	(84)
Other (including foreign exchange)	(9)	(1)
Balance - end of period	3,411	2,651
Long-Duration Insurance, Other \| Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	616	642
Balance - end of period	616	642
Term Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	413	349
Balance – beginning of period	402	324
Capitalizations	47	42
Amortization expense	(28)	(24)
Other (including foreign exchange)	(8)	7
Balance - end of period	413	349
Universal Life \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	688	644
Balance – beginning of period	674	639
Capitalizations	33	25
Amortization expense	(20)	(19)
Other (including foreign exchange)	1	(1)
Balance - end of period	688	644
Whole Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	608	424
Balance – beginning of period	534	392
Capitalizations	85	28
Amortization expense	(8)	(5)
Other (including foreign exchange)	(3)	9
Balance - end of period	608	424
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	1,421	969
Balance – beginning of period	1,301	891
Capitalizations	158	123
Amortization expense	(41)	(30)
Other (including foreign exchange)	3	(15)
Balance - end of period	1,421	969
Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	281	265
Balance – beginning of period	274	268
Capitalizations	16	4
Amortization expense	(7)	(6)
Other (including foreign exchange)	(2)	(1)
Balance - end of period	$ 281	$ 265

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Unpaid Losses and Loss Expenses [Roll Forward]

Gross unpaid losses and loss expenses – beginning of period

$ 80,122

$ 75,747

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

^[1]

(17,884)

(17,086)

Net unpaid losses and loss expenses – beginning of period

62,238

58,661

Current Year Claims and Claims Adjustment Expense

5,980

5,336

Prior Year Claims and Claims Adjustment Expense

^[2]

(253)

(188)

Total, Incurred

5,727

5,148

Net loss and loss expenses paid, Current Year

767

805

Net loss and loss expenses paid, Prior Years

4,055

3,911

Total, Paid

4,822

4,716

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

35

(196)

Net unpaid losses and loss expenses – end of period

63,178

58,897

Reinsurance recoverable on unpaid losses (1)

^[1]

17,163

16,520

Gross unpaid losses and loss expenses – end of period

80,341

75,417

prior period development, net adjustments

46

$ (8)

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

$ 940

[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 $46 million and $(8) million for the three months ended March 31, 2024 and 2023, respectively.

Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (207)	$ (196)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(48)	(72)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(52)	17
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(28)	0
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(89)	(143)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	1	(8)
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	10
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(311)	(215)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(144)	(81)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(52)	17
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(28)	0
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(88)	(143)
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	1	(8)
Short Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	104	19
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	96	9
Long Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(1)	0
Long Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 9	$ 10

Unpaid losses and loss expenses Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Claims and Claims Adjustment Expense [Line Items]
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease)	$ 940
Net Prior Period Development	(207)	$ (196)
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	104	19
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(311)	(215)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(48)	(72)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	96	9
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(144)	(81)
North America Commercial P&C Insurance [Member] \| Commercial Excess and Umbrella [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	102
North America Commercial P&C Insurance [Member] \| Surety Product Line [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(74)
North America Commercial P&C Insurance [Member] \| Property and Inland Marine
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(62)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(89)	(143)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(1)	0
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(88)	(143)
Overseas General Insurance [Member] \| Property, Liability and Casualty Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (58)	(85)
Overseas General Insurance [Member] \| Property, Liability and Casualty Insurance Product Line \| Catastrophe [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		$ (43)

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2022

Liability for Future Policy Benefit, Activity [Line Items]

Net liability for future policy benefits, before reinsurance recoverable

$ 1,351

$ 952

14,375

10,782

$ 13,888

Less: Reinsurance recoverable on future policy benefits

^[1]

272

280

Segment Life [Member]

Liability for Future Policy Benefit, Activity [Line Items]

16,036

14,867

16,693

$ 15,529

Effect of actual variances from expected experience

185

(769)

(16)

(104)

16,862

14,656

1,059

394

174

171

^[2]

(737)

(459)

73

(95)

17,431

14,667

(684)

(319)

16,747

14,348

27,462

23,324

28,303

24,456

Effect of actual variances from expected experience

194

(776)

(6)

(98)

28,491

23,582

1,059

394

260

242

(550)

(476)

163

(67)

29,423

23,675

(801)

(623)

28,622

23,052

11,875

8,704

Net liability for future policy benefits, before reinsurance recoverable

1,351

952

13,226

9,656

Less: Reinsurance recoverable on future policy benefits

266

250

Net liability for future policy benefits, after reinsurance recoverable

$ 12,960

$ 9,406

Liability for Future Policy Benefit, Activity [Line Items]

19 years 3 months 18 days

17 years 8 months 12 days

Other Segments

Net liability for future policy benefits, before reinsurance recoverable

$ 1,149

$ 1,126

Term Life Insurance | Segment Life [Member]

Liability for Future Policy Benefit, Activity [Line Items]

1,590

1,806

1,992

1,867

Effect of actual variances from expected experience

6

17

(1)

(6)

1,997

1,878

65

36

14

28

^[2]

(57)

(44)

(5)

35

2,014

1,933

(407)

(48)

1,607

1,885

2,254

2,321

2,749

2,447

Effect of actual variances from expected experience

8

20

3

(3)

2,760

2,464

65

36

19

32

(59)

(46)

30

72

2,815

2,558

(516)

(118)

2,299

2,440

692

555

Net liability for future policy benefits, before reinsurance recoverable

254

223

946

778

Less: Reinsurance recoverable on future policy benefits

107

105

Net liability for future policy benefits, after reinsurance recoverable

$ 839

$ 673

Whole Life Insurance | Segment Life [Member]

10 years 2 months 12 days

9 years 4 months 24 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 3,950

$ 2,308

3,945

2,361

Effect of actual variances from expected experience

70

(1)

22

(8)

4,037

2,352

295

69

27

18

^[2]

(310)

(82)

(4)

8

4,045

2,365

18

(8)

4,063

2,357

10,063

5,696

9,991

5,874

Effect of actual variances from expected experience

86

(1)

27

(7)

10,104

5,866

295

69

74

52

(87)

(65)

(2)

28

10,384

5,950

184

(42)

10,568

5,908

6,505

3,551

Net liability for future policy benefits, before reinsurance recoverable

904

581

7,409

4,132

Less: Reinsurance recoverable on future policy benefits

45

33

Net liability for future policy benefits, after reinsurance recoverable

$ 7,364

$ 4,099

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

25 years 7 months 6 days

25 years 3 months 18 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 10,432

$ 10,711

10,692

11,258

Effect of actual variances from expected experience

109

(786)

(37)

(89)

10,764

10,383

697

288

133

125

^[2]

(363)

(327)

82

(139)

11,313

10,330

(295)

(263)

11,018

10,067

14,650

15,038

15,071

15,855

Effect of actual variances from expected experience

100

(798)

(36)

(87)

15,135

14,970

697

288

164

156

(398)

(362)

114

(153)

15,712

14,899

(487)

(463)

15,225

14,436

4,207

4,369

Net liability for future policy benefits, before reinsurance recoverable

174

135

4,381

4,504

Less: Reinsurance recoverable on future policy benefits

113

112

Net liability for future policy benefits, after reinsurance recoverable

$ 4,268

$ 4,392

Insurance, Other | Segment Life [Member]

10 years 1 month 6 days

10 years 8 months 12 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 64

$ 42

64

43

Effect of actual variances from expected experience

0

1

0

(1)

64

43

2

1

0

^[2]

(7)

(6)

0

1

59

39

0

59

39

495

269

492

280

Effect of actual variances from expected experience

0

3

$ 0

$ (1)

492

282

2

1

3

2

(6)

(3)

21

(14)

512

268

18

0

530

268

471

229

Net liability for future policy benefits, before reinsurance recoverable

19

13

490

242

Less: Reinsurance recoverable on future policy benefits

1

0

Net liability for future policy benefits, after reinsurance recoverable

$ 489

$ 242

15 years 1 month 6 days

14 years 6 months

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

Future policy benefits (Undiscounted & discounted FPB) (Details) - Segment Life [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Discounted expected future benefit payments	$ 28,622	$ 27,462	$ 23,052	$ 23,324
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	4,358		4,041
Undiscounted expected future gross premiums	7,291		6,452
Discounted expected future benefit payments	2,299	2,254	2,440	2,321
Discounted expected future gross premiums	3,909		3,773
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	24,834		16,446
Undiscounted expected future gross premiums	9,593		6,895
Discounted expected future benefit payments	10,568	10,063	5,908	5,696
Discounted expected future gross premiums	7,774		5,398
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	26,475		23,186
Undiscounted expected future gross premiums	39,002		33,809
Discounted expected future benefit payments	15,225	14,650	14,436	15,038
Discounted expected future gross premiums	22,975		20,766
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	901		342
Undiscounted expected future gross premiums	94		97
Discounted expected future benefit payments	530	$ 495	268	$ 269
Discounted expected future gross premiums	$ 83		$ 87

Future policy benefits (Premiums & interest) (Details) - Segment Life [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	$ 1,470	$ 1,140
Interest Accretion	86	71
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	167	160
Interest Accretion	5	4
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	530	230
Interest Accretion	47	34
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	753	733
Interest Accretion	31	31
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	20	17
Interest Accretion	$ 3	$ 2

Future policy benefits (Weighted average interest rates) (Details) - Segment Life [Member]	Mar. 31, 2024	Mar. 31, 2023
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	2.90%	2.80%
Current Discount Rate	5.70%	5.70%
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.20%	4.00%
Current Discount Rate	4.50%	5.20%
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.70%	3.80%
Current Discount Rate	6.30%	6.20%
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	2.60%	3.80%
Current Discount Rate	3.80%	4.80%

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2022

$ 6,880

$ 2,593

$ 6,789

$ 2,573

334

68

Policyholder Account Balance, Surrender and Withdrawal

^[1]

(36)

(34)

(119)

(23)

^[2]

(116)

(10)

Policyholder Account Balance, Increase (Decrease) from Other Change

43

16

(15)

(3)

6,880

2,593

6,789

2,573

680

585

673

567

7,560

3,178

Universal Life

1,840

1,208

1,876

1,199

72

50

Policyholder Account Balance, Surrender and Withdrawal

^[1]

(34)

(30)

(32)

(15)

^[2]

(54)

(4)

Policyholder Account Balance, Increase (Decrease) from Other Change

13

8

(1)

0

1,840

1,208

1,876

1,199

Policyholder Account Balance, Weighted Average Crediting Rate

$ 1,840

$ 1,208

2.90%

2.60%

Policyholder Account Balance, Net Amount at Risk

^[3]

$ 12,014

$ 11,394

Policyholder Account Balance, Cash Surrender Value

1,623

1,005

Annuities [Member]

^[4]

2,484

2,411

^[4]

131

Policyholder Account Balance, Surrender and Withdrawal

^[1],[4]

0

^[4]

(10)

^[2],[4]

(59)

Policyholder Account Balance, Increase (Decrease) from Other Change

^[4]

16

^[4]

(5)

^[4]

2,484

2,411

Policyholder Account Balance, Weighted Average Crediting Rate

$ 2,484

2.60%

Policyholder Account Balance, Net Amount at Risk

^[3]

$ 0

Policyholder Account Balance, Cash Surrender Value

1,605

Insurance, Other

^[5]

2,556

1,385

2,502

1,374

^[5]

131

18

Policyholder Account Balance, Surrender and Withdrawal

^[1],[5]

(2)

(4)

^[5]

(77)

(8)

^[2],[5]

(3)

(6)

Policyholder Account Balance, Increase (Decrease) from Other Change

^[5]

14

8

^[5]

(9)

(3)

^[5]

2,556

1,385

$ 2,502

$ 1,374

Policyholder Account Balance, Weighted Average Crediting Rate

$ 2,556

$ 1,385

2.50%

3.00%

Policyholder Account Balance, Net Amount at Risk

^[3]

$ 499

$ 156

Policyholder Account Balance, Cash Surrender Value

$ 2,239

$ 1,075

[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]	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.
[4]	Relates to Huatai Life.
[5]	Other primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.

Policyholders' account balances (Guaranteed Minimum Crediting Rates) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 7,560	$ 7,462	$ 3,178
Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,840		1,208
Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	563		544
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	461		345
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	767		312
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	49		7
Annuities [Member]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2,484
Annuities [Member] \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	859
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
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	1,624
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	1
Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2,556		1,385
Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,167		835
Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	613		43
Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	243		212
Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	533		295
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	570		494
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	482		455
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	39		32
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	49		7
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	2,345
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	720
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
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	1,624
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	1
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,565		953
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	789		446
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	243		212
Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	533		295
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	1,256		694
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	67		69
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	461		345
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	728		280
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Annuities [Member]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	139
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	139
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
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
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
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	991		427
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	378		384
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	613		43
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	14		20
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	14		20
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
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
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
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
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
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		5
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		5
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 0		$ 0
Minimum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.01%
Minimum \| Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%

Separate accounts (Fair value of assets) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 5,864	$ 5,573	$ 5,300
Separate Account, Cash and Cash Equivalents
Fair Value, Separate Account Investment [Line Items]
Separate account assets	76		116
Fixed maturities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	89		102
Mutual funds
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 5,699		$ 5,082

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Separate Account, Liability [Line Items]

Separate Account, Liability, Beginning Balance

$ 5,573

$ 5,190

Separate Account, Liability, Premium and Deposit

264

266

Separate Account, Liability, Policy Charge

(43)

(35)

Separate Account, Liability, Surrender and Withdrawal

(210)

(111)

Separate Account, Liability, Benefit Payment

(105)

(99)

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

375

110

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

10

(21)

Separate Account, Liability, Ending Balance

5,864

5,300

Separate Account, Liability, Cash Surrender Value, Amount

^[1]

$ 5,655

$ 5,030

[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 liability (URL Rollforward) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Insurance [Abstract]
Balance – beginning of period	$ 680	$ 585	$ 673	$ 567
Deferred revenue	34	32
Amortization	(18)	(14)
Other (including foreign exchange)	(9)	0
Balance – end of period	$ 680	$ 585	$ 673	$ 567

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Market Risk Benefit [Line Items]

Market Risk Benefit, Liability, beginning of period

$ 771

Market Risk Benefit, Liability, end of period

611

Market risk benefits gains (losses)

21

$ (115)

Long-Duration Insurance, Other | Variable Annuity

Market Risk Benefit [Line Items]

Market Risk Benefit, Liability, beginning of period

771

800

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

749

776

Interest rate changes

(57)

63

Effect of changes in equity markets

(77)

(75)

Effect of changes in volatilities

(20)

57

Market Risk Benefit, Increase (Decrease) from Actual Policyholder Behavior Different from Expected

30

(2)

Effect of timing and all other

(31)

(16)

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

594

803

Effect of changes in the instrument-specific credit risk

17

27

Market Risk Benefit, Liability, end of period

611

830

Market Risk Benefit, Net Amount at Risk

^[1]

1,683

2,296

Market Risk Benefits Other Gains (Losses)

$ (134)

$ (89)

Weighted-average age of policyholders (years)

74 years

73 years

[1]

The net amount at risk is defined as the present value of future claim payments assuming policy account values and guaranteed values are fixed at the valuation date, and reinsurance coverage ends at the earlier of the maturity of the underlying variable annuity policy or the reinsurance treaty. No withdrawals, lapses, and mortality improvements are assumed in the projection. GLB-related risks contain conservative mortality and annuitization assumptions.

Market Risk Benefits (MRB Valuation) (Details)

3 Months Ended

Mar. 31, 2024

Mar. 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%

Significant Unobservable Inputs Annuitization Rate

0.00%

Maximum

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

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

30.00%

30.40%

Significant Unobservable Inputs Annuitization Rate

100.00%

Weighted Average

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

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

^[1]

4.30%

4.00%

Significant Unobservable Inputs Annuitization Rate

^[1]

4.20%

4.40%

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

Debt (Detail) - Senior Notes [Member] - INA Senior Notes Due March 2034 [Domain] $ in Billions	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Make Whole Premium Additional Percent	0.15%

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

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

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Foreign currency forward contracts

Commitments, Contingencies, And Guarantees (Narrative) (Detail) € in Millions, $ in Millions	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Financial Instruments Owned and Pledged as Collateral [Line Items]
Hedged Liability, Fair Value Hedge	$ 1,600	€ 1,500
Repurchase agreements	3,022		$ 2,833
Purchase Commitment, Remaining Minimum Amount Committed	1,000		1,000
Carrying value of limited partnerships and partially-owned investment companies included in other investments	14,000		13,900
Funding commitments relating to limited partnerships and partially-owned investment companies	5,900		6,200
Unrecognized tax benefits	73
Operating Lease, Right-of-Use Asset	762		784
Operating Lease, Liability	$ 818		$ 832
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities	Other liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets (includes VIE balances of $14 and $33)	Other assets (includes VIE balances of $14 and $33)	Other assets (includes VIE balances of $14 and $33)
Derivative Liability, Subject to Master Netting Arrangement, after Offset	$ 104		$ 115

Commitments, Contingencies, And Guarantees (Balance Sheet Locations, Fair Values In Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments) (Detail) - USD ($)
$ in Millions

Mar. 31, 2024

Dec. 31, 2023

Options/Futures contracts on notes and bonds

$ 3,647

$ 3,662

1,746

2,062

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

69

64

92

110

(144)

(136)

Futures contracts on equities

5,462

5,788

Designated as Hedging Instrument

^[2]

1,162

1,157

149

136

(110)

128

3,267

3,250

Fair Value Hedging

1,642

1,631

Net Investment Hedging

1,625

1,619

Other Derivative Instruments [Member]

269

217

Other Assets [Member] | Foreign currency forward contracts

1,431

1,374

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

23

27

Other Assets [Member] | Futures contracts on equities

5

27

Other Assets [Member] | Fair Value Hedging

^[2]

0

Other Assets [Member] | Net Investment Hedging

133

126

Other Assets [Member] | Other derivative instruments

16

10

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

1

0

Fixed Maturities [Member] | Convertible securities

1

0

Derivative Asset, Not Subject to Master Netting Arrangement

^[1]

64

56

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

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

(135)

(94)

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

(9)

(42)

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

^[2]

(22)

(37)

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

0

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

(110)

(128)

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

(6)

(5)

Equity Securities | Convertible securities

(28)

(42)

Derivative Liability, Not Subject to Master Netting Arrangement

^[1]

$ 0

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

Commitment, Contingencies, And Guarantees (Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Interest expense reclassified from OCI	$ 178	$ 160
Fair Value Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain (loss) recognized in OCI	(8)	(17)
Net realized gain (loss) reclassified from OCI	(37)	20
Interest expense reclassified from OCI	(4)	(4)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	$ 33	$ (33)

Derivative Instruments, Gain (Loss) [Line Items]

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

Commitments, Contingencies, And Guarantees (Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location) (Details) - Net Investment Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain (loss) recognized in OCI	$ 36	$ (23)
Interest income reclassified from OCI	3	3
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	$ 33	$ (26)

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Foreign currency forward contracts

$ (140)

$ (104)

Derivative Instruments, Gain (Loss) [Line Items]

All Other Futures Contracts, Options and equities [Member]

(52)

(51)

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

6

5

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

3

0

Derivative Instruments, Gain (Loss) [Line Items]

Futures contracts on equities

(43)

(46)

Derivative Instruments, Gain (Loss) [Line Items]

Other Derivative Instruments [Member]

^[2]

(95)

(57)

Derivative Instruments, Gain (Loss) [Line Items]

(97)

(58)

Derivative Instruments, Gain (Loss) [Line Items]

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

$ (2)

$ (1)

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

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 1,708	$ 1,299
Securities lending payable	1,708	1,299
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	698	555
U.S. Treasury / Agency \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	275	33
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	654	621
Corporate and asset-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	60	57
Equity Securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	17	27
Municipal \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 4	$ 6

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

Mar. 31, 2024

Dec. 31, 2023

Repurchase agreements

$ 3,022

$ 2,833

Asset Pledged as Collateral without Right

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

Cash [Member] | Asset Pledged as Collateral without Right

3,097

2,924

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

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

4

34

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

Mortgage-backed securities | Asset Pledged as Collateral without Right

100

105

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

Repurchase Agreements [Member]

1,414

1,430

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

Secured Borrowings, Gross, Difference, Amount

^[1]

75

91

Non-US [Member] | Asset Pledged as Collateral without Right

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

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

1,579

1,355

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

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

2,067

1,355

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

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

0

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

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

0

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

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

488

0

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

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

1,579

1,355

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

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

1,030

1,051

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

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

4

33

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

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

100

105

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

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

926

913

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

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

$ 0

0

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

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

518

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

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

1

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

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

0

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

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

517

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