Short-term investments, at fair value (amortized cost – $3,695 and $4,962)

942

827

3,693

4,960

14,192

13,696

Total investments

115,616

113,551

Cash

2,288

2,012

Restricted cash

94

115

Accrued investment income

1,582

1,523

953

941

Insurance and reinsurance balances receivable, net of valuation allowance - $51 and $52

12,340

11,933

Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $351 and $351

^[1]

18,141

18,859

^[1]

279

302

6,296

6,031

3,603

3,702

Goodwill

16,175

16,228

Other intangible assets

5,364

5,441

3,166

3,136

3,728

2,507

5,300

5,190

Other assets

6,490

7,546

Total assets

201,415

199,017

Liabilities

75,417

75,747

20,261

19,713

10,782

10,476

Policyholders' account balances

830

800

3,178

3,140

Separate account liabilities

5,300

5,190

Securities lending payable

7,778

7,780

1,582

1,523

Accounts payable, accrued expenses, and other liabilities

6,656

7,148

Trust preferred securities

541

377

Repurchase agreements

1,420

1,419

Short-term debt

0

475

Long-term debt

14,375

14,402

308

Total liabilities

148,428

148,498

Commitments and contingencies (refer to Note 13)

Shareholders’ equity

Common Shares (CHF 24.15 par value; 446,376,614 and 446,376,614 shares issued; 414,158,680 and 414,594,856 shares outstanding)

10,346

Common Shares in treasury (32,217,934 and 31,781,758 shares)

(5,341)

(5,113)

Additional paid-in capital

6,680

7,166

Accumulated other comprehensive income (loss) (AOCI)

50,197

48,305

(8,895)

(10,185)

Total shareholders’ equity

52,987

50,519

Total liabilities and shareholders’ equity

$ 201,415

$ 199,017

[1]	Net of valuation allowance for uncollectible reinsurance.

Consolidated Balance Sheets (Parentheticals) (Unaudited) $ in Millions	Mar. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, valuation allowance	$ 168	$ 169
Fixed maturities, available-for-sale, at amortized cost	94,709	93,355
Fixed maturities, held-to-maturity, valuation allowance	33	34
Fixed maturities, held-to-maturity, fair value	8,109	8,439
Short-term investments amortized cost	3,695	4,962
Premium Receivable, Allowance for Credit Loss	51	52
Valuation allowance for uncollectible reinsurance	$ 351	$ 351
Common Shares, shares issued \| shares	446,376,614	446,376,614
Common Shares, shares outstanding \| shares	414,158,680	414,594,856

Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Net premiums written	$ 10,710	$ 9,189
Increase in unearned premiums	(568)	(452)
Net premiums earned	10,142	8,737
Net investment income	1,107	822
Net realized gains (losses)	(77)	23
Market risk benefits gains (losses)	(115)	49
Total revenues	11,057	9,631
Expenses
Losses and loss expenses	5,148	4,564
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	797	373
Policy acquisition costs	1,948	1,719
Administrative expenses	930	778
Interest expense	160	132
Other (income) expense	(296)	(312)
Amortization of purchased intangibles	72	71
Cigna integration expenses	22	0
Total expenses	8,781	7,325
Income before income tax	2,276	2,306
Income tax expense	384	353
Net income	1,892	1,953
Other comprehensive income (loss):
Change in unrealized depreciation	1,786	(4,652)
Current discount rate on future policy benefits	(151)	435
Instrument-specific credit risk on market risk benefits	(3)	23
Cumulative foreign currency translation adjustment	(177)	67
Other, including postretirement benefit liability adjustment	(33)	19
Other comprehensive income (loss), before income tax	1,422	(4,108)
Income tax (expense) benefit related to OCI items	(132)	779
Other comprehensive income (loss)	1,290	(3,329)
Comprehensive income (loss)	$ 3,182	$ (1,376)
Earnings per share
Basic earnings per share	$ 4.57	$ 4.59
Diluted earnings per share	$ 4.53	$ 4.55

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]
Balance – beginning of period, net of tax at Dec. 31, 2021		$ 10,985	$ (7,464)	$ 8,478	$ 47,403	$ (1,074)
Common Shares repurchased			(1,001)
Treasury Stock, Retired, Cost Method, Amount		(319)	2,510		(2,191)
Net shares issued under employee share-based compensation plans			255	(199)
Exercise of stock options				(21)
Share-based compensation expense				70
Funding of dividends declared to Retained earnings				(340)
Net income (loss)	$ 1,953				1,953
Funding of dividends declared from Additional paid-in capital					340
Dividends declared on Common Shares					(340)
Other Comprehensive Income (Loss), Net of Tax	(3,329)					(3,329)
Balance – end of period, net of tax at Mar. 31, 2022	55,716	10,666	(5,700)	7,988	47,165	(4,403)
Balance – beginning of period, net of tax at Dec. 31, 2022	50,519	10,346	(5,113)	7,166	48,305	(10,185)
Common Shares repurchased			(428)
Treasury Stock, Retired, Cost Method, Amount		0	0		0
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 (loss)	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)

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Cash flows from operating activities

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

$ 1,892

$ 1,953

77

(23)

Amortization of premiums/discounts on fixed maturities

115

(49)

(14)

91

Amortization of purchased intangibles

72

71

^[1]

(340)

(363)

Deferred income taxes

9

91

(14)

923

591

492

136

21

Accounts payable, accrued expenses, and other liabilities

(9)

147

(390)

(274)

Income taxes payable

128

Insurance and reinsurance balances receivable

(402)

(125)

Reinsurance recoverable

622

(444)

(254)

(116)

Net cash flows from operating activities

32

(79)

2,251

2,444

Cash flows from investing activities

Purchases of fixed maturities available for sale

(7,169)

(5,933)

Purchases of fixed maturities held to maturity

(88)

(143)

Purchases of equity securities

(135)

(380)

Sales of fixed maturities available for sale

3,854

1,838

Sales of equity securities

43

1,110

Maturities and redemptions of fixed maturities available for sale

1,541

3,003

Maturities and redemptions of fixed maturities held to maturity

472

398

Net change in short-term investments

1,256

(267)

Net derivative instruments settlements

(38)

74

Private equity contribution

(384)

(669)

Private equity distribution

273

207

Payments to Acquire Businesses, Net of Cash Acquired

(23)

0

Payment, including deposit, for Huatai Group Interest

0

(113)

Net cash flows used for investing activities

(172)

(120)

(570)

(995)

Cash flows from financing activities

Dividends paid on Common Shares

(345)

(341)

Common Shares repurchased

(545)

(1,001)

Proceeds from issuance of repurchase agreements

1,308

146

Repayment of long-term debt

(475)

0

Repayment of repurchase agreements

(1,307)

(146)

Proceeds from share-based compensation plans

55

114

Policyholder contract deposits

95

106

Policyholder contract withdrawals

(101)

(88)

Payment, Tax Withholding, Share-based Payment Arrangement

(76)

(81)

Proceeds from (Payments for) Other Financing Activities

(33)

(15)

Net cash flows used for financing activities

(1,424)

(1,306)

Effect of foreign currency rate changes on cash and restricted cash

(2)

(40)

Net increase (decrease) in cash and restricted cash

255

103

Cash and restricted cash - beginning of period

2,127

1,811

Cash and restricted cash - end of period

2,382

1,914

Supplemental cash flow information

Taxes paid

219

132

Interest paid

$ 99

$ 85

[1]

Equity in net income of partially-owned entities includes mark-to-market gains on private equities where we own more than three percent of $242 million and $255 million for the three months ended March 31, 2023 and 2022, respectively. This line item also includes net income of $14 million and $42 million attributable to our investments in Huatai for the three months ended March 31, 2023 and 2022, respectively.

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	$ 1	$ (5)

General and significant accounting policies

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General

General and significant accounting policies

a) Basis of presentation

Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 18 for additional information.

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

The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2022 Form 10-K.

b) Restricted cash

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

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


	March 31		December 31
(in millions of U.S. dollars)	2023		2022
Cash	$	2,288	$	2,012
Restricted cash	94		115
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,382	$	2,127

c) Accounting guidance adopted in 2023

Targeted Improvements to the Accounting for Long-Duration Contracts

Effective January 1, 2023, we adopted new guidance on the accounting for long-duration contracts (LDTI). The new accounting guidance requires more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures.

With the exception of market risk benefits, we adopted this guidance on a modified retrospective basis. Under the modified retrospective basis, the liability for future policy benefits is updated to remove any amounts related to changes to the original discount rate at January 1, 2021 (the transition date) in AOCI and future cash flow assumptions are applied to contracts in force. The liability for future policy benefits prior to the transition date continues to use the original discount rate (interest accretion rate). The guidance for long-duration contracts applicable to market risk benefits, primarily assumed reinsurance programs involving minimum benefit guarantees under variable annuity contracts, was adopted on a retrospective transition approach. Under the retrospective transition approach, we calculated the fair value of market risk benefits which were previously accounted for under an insurance accounting model and recognized an adjustment to retained earnings as of January 1, 2021.

On January 1, 2021, we recognized a cumulative effect adjustment and increased beginning retained earnings by $52 million, and decreased AOCI by $1.8 billion. Results for the prior reporting periods in this report are presented in accordance with the new guidance. We also adopted the required disclosures in Note 6 Deferred acquisition costs, Note 9 Future policy benefits, Note 10 Policyholders’ account balances, Note 11 Market risk benefits, and Note 12 Separate accounts.

The impact of adoption of the new guidance on our historical financial statements is as follows:


	December 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment	As Adjusted
Consolidated balance sheet
Reinsurance recoverable on losses and loss expenses	$	18,901	(42)	$	18,859
Reinsurance recoverable on policy benefits	303		(1)	302
Deferred policy acquisition costs	5,788		243	6,031
Value of business acquired	3,596		106	3,702

Prepaid reinsurance premiums	3,140		(4)	3,136
Investments in partially-owned insurance companies	2,877		(370)	2,507

Unpaid losses and loss expenses	76,323		(576)	75,747
Unearned premiums	20,360		(647)	19,713

Future policy benefits	10,120		356	10,476
Market risk benefits	—		800	800
Insurance and reinsurance balances payable	7,795		(15)	7,780

Deferred tax liabilities	292		85	377
Retained Earnings	48,334		(29)	48,305
Accumulated other comprehensive income (loss)	(10,193)		8	(10,185)

Excluded from the table above is the reclassification of separate accounts assets, separate account liabilities, and Policyholders' account balances as separate line items on the consolidated balance sheets. Separate accounts assets were previously classified in Other assets, and separate account liabilities and Policyholders' account balances were previously classified in Accounts payable, accrued expenses, and other liabilities.


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of operations and comprehensive income
Net premiums written	$	9,199	$	(10)	$	9,189
Net premiums earned	8,746		(9)		8,737
Net realized gains (losses)	101		(78)		23
Market risk benefits gains (losses)	—		49		49
Losses and loss expenses	4,787		(223)		4,564
Policy benefits	145		228		373
Policy acquisition costs	1,737		(18)		1,719

Other (income) expense	(310)		(2)		(312)
Income tax expense	355		(2)		353
Net Income	1,974		(21)		1,953
Other comprehensive income
Change in current discount rate on future policy benefits	—		435		435
Change in instrument-specific credit risk on market risk benefits	—		23		23
Income tax benefit related to OCI items	812		(33)		779
Comprehensive income	(1,780)		404		(1,376)


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of cash flows













Net cash flows from operating activities	$	2,440	$	4	$	2,444





Net cash flows used for financing activities	(1,302)		(4)		(1,306)

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of future policy benefits:


	Life Insurance						Overseas General Insurance				Offsetting Equity Line Classification
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		A&H		Total
Future policy benefits
Balance – December 31, 2020(1)	$	391	$	2,578	$	2,270	$	72	$	754	$	6,065

Effect of change in current discount rate	63		1,189		299		17		19		1,587		AOCI
Balance – January 1, 2021	$	454	$	3,767	$	2,569	$	89	$	773	$	7,652

(1) Includes future policy benefits previously included within Unpaid losses on the pre-adoption consolidated balance sheets, primarily certain international A&H business, and excludes deferred profit liability and certain guaranteed minimum death benefits reclassified to Market risk benefits on the post adoption period balance sheets.

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of market risk benefits:


(in millions of U.S. dollars)			Offsetting Equity Line Classification
Market risk benefits
Balance – December 31, 2020	$	1,138
Cumulative effect of changes in instrument-specific credit risk between original contract issuance date and transition date (1)	84		AOCI
Other fair value adjustments	(59)		Retained Earnings
Balance – January 1, 2021	$	1,163

(1) Includes $77 million of instrument-specific credit risk allocated from retained earnings to AOCI.

Significant accounting policies

The following accounting policies have been updated to reflect the adoption of LDTI. Refer to Note 1 in the 2022 Form 10-K for a complete description of our accounting policies.

Deferred policy acquisition costs (DAC)

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

Future policy benefits

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

The liability is adjusted for differences between actual and expected experience. With the exception of the expense assumption, we review our future cash flow assumptions at least annually to determine if the net premium ratio (NPR), the mechanism used to record the liability as premium is earned, used to calculate the liability should be changed at that time. We have elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Each quarter, we update the cash flows expected over the entire life of each cohort for actual historical experience and projected future cash

flows. These updated cash flows are used to calculate the revised NPR, which is used to derive an updated FPBL as of the beginning of the current reporting period, discounted at the original contract issuance discount rate. This amount is then compared to the carrying amount of the liability as of that same date, but before the updating of cash flow assumptions, to determine the current period change in FPBL. This current period change in the liability is the liability remeasurement gain or loss and is recorded in Policy benefits in the Consolidated statements of operations. In subsequent periods, the revised NPR is used to measure the FPBL until future revisions become required.

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

Deferred profit liability

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

Market risk benefits

Chubb reinsures various death and living benefit guarantees associated with variable annuities issued primarily in the United States, which are referred to as market risk benefits. These reinsurance contracts provide both protection to the ceding entity from other-than-nominal capital market risk and expose us to other-than-nominal capital market risk.

Market risk benefits are measured at fair value using a valuation model based on current net exposures, market data, our experience, and other factors. Changes in fair value are recognized in Market risk benefits gains (losses) in the Consolidated statements of operations, except the change in fair value due to a change in the instrument-specific credit risk, which is recognized in other comprehensive income. Refer to Note 11 for additional information.

Accounting guidance adopted

Accounting guidance adopted in 2023

Targeted Improvements to the Accounting for Long-Duration Contracts

Effective January 1, 2023, we adopted new guidance on the accounting for long-duration contracts (LDTI). The new accounting guidance requires more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures.

With the exception of market risk benefits, we adopted this guidance on a modified retrospective basis. Under the modified retrospective basis, the liability for future policy benefits is updated to remove any amounts related to changes to the original discount rate at January 1, 2021 (the transition date) in AOCI and future cash flow assumptions are applied to contracts in force. The liability for future policy benefits prior to the transition date continues to use the original discount rate (interest accretion rate). The guidance for long-duration contracts applicable to market risk benefits, primarily assumed reinsurance programs involving minimum benefit guarantees under variable annuity contracts, was adopted on a retrospective transition approach. Under the retrospective transition approach, we calculated the fair value of market risk benefits which were previously accounted for under an insurance accounting model and recognized an adjustment to retained earnings as of January 1, 2021.

On January 1, 2021, we recognized a cumulative effect adjustment and increased beginning retained earnings by $52 million, and decreased AOCI by $1.8 billion. Results for the prior reporting periods in this report are presented in accordance with the new guidance. We also adopted the required disclosures in Note 6 Deferred acquisition costs, Note 9 Future policy benefits, Note 10 Policyholders’ account balances, Note 11 Market risk benefits, and Note 12 Separate accounts.

The impact of adoption of the new guidance on our historical financial statements is as follows:


	December 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment	As Adjusted
Consolidated balance sheet
Reinsurance recoverable on losses and loss expenses	$	18,901	(42)	$	18,859
Reinsurance recoverable on policy benefits	303		(1)	302
Deferred policy acquisition costs	5,788		243	6,031
Value of business acquired	3,596		106	3,702

Prepaid reinsurance premiums	3,140		(4)	3,136
Investments in partially-owned insurance companies	2,877		(370)	2,507

Unpaid losses and loss expenses	76,323		(576)	75,747
Unearned premiums	20,360		(647)	19,713

Future policy benefits	10,120		356	10,476
Market risk benefits	—		800	800
Insurance and reinsurance balances payable	7,795		(15)	7,780

Deferred tax liabilities	292		85	377
Retained Earnings	48,334		(29)	48,305
Accumulated other comprehensive income (loss)	(10,193)		8	(10,185)

Excluded from the table above is the reclassification of separate accounts assets, separate account liabilities, and Policyholders' account balances as separate line items on the consolidated balance sheets. Separate accounts assets were previously classified in Other assets, and separate account liabilities and Policyholders' account balances were previously classified in Accounts payable, accrued expenses, and other liabilities.


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of operations and comprehensive income
Net premiums written	$	9,199	$	(10)	$	9,189
Net premiums earned	8,746		(9)		8,737
Net realized gains (losses)	101		(78)		23
Market risk benefits gains (losses)	—		49		49
Losses and loss expenses	4,787		(223)		4,564
Policy benefits	145		228		373
Policy acquisition costs	1,737		(18)		1,719

Other (income) expense	(310)		(2)		(312)
Income tax expense	355		(2)		353
Net Income	1,974		(21)		1,953
Other comprehensive income
Change in current discount rate on future policy benefits	—		435		435
Change in instrument-specific credit risk on market risk benefits	—		23		23
Income tax benefit related to OCI items	812		(33)		779
Comprehensive income	(1,780)		404		(1,376)


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of cash flows













Net cash flows from operating activities	$	2,440	$	4	$	2,444





Net cash flows used for financing activities	(1,302)		(4)		(1,306)

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of future policy benefits:


	Life Insurance						Overseas General Insurance				Offsetting Equity Line Classification
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		A&H		Total
Future policy benefits
Balance – December 31, 2020(1)	$	391	$	2,578	$	2,270	$	72	$	754	$	6,065

Effect of change in current discount rate	63		1,189		299		17		19		1,587		AOCI
Balance – January 1, 2021	$	454	$	3,767	$	2,569	$	89	$	773	$	7,652

(1) Includes future policy benefits previously included within Unpaid losses on the pre-adoption consolidated balance sheets, primarily certain international A&H business, and excludes deferred profit liability and certain guaranteed minimum death benefits reclassified to Market risk benefits on the post adoption period balance sheets.

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of market risk benefits:


(in millions of U.S. dollars)			Offsetting Equity Line Classification
Market risk benefits
Balance – December 31, 2020	$	1,138
Cumulative effect of changes in instrument-specific credit risk between original contract issuance date and transition date (1)	84		AOCI
Other fair value adjustments	(59)		Retained Earnings
Balance – January 1, 2021	$	1,163

(1) Includes $77 million of instrument-specific credit risk allocated from retained earnings to AOCI.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI https://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL122150809-237846

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Investments, Debt and Equity Securities [Abstract]

Acquisitions

3 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

Acquisitions

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

On July 1, 2022, we completed the acquisition of the life and non-life insurance companies that house the personal accident, supplemental health, and life insurance business of Cigna in several Asian markets. Chubb paid approximately $5.4 billion in cash for the operations, which include Cigna's accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong, and Indonesia, collectively referred to as Cigna's business in Asia. This complementary strategic acquisition expands our presence and advances our long-term growth opportunity in Asia. Effective July 1, 2022, the results of operations of this acquired business are reported primarily in our Life Insurance segment and, to a lesser extent, our Overseas General Insurance segment. Refer to the 2022 Form 10-K for additional information on this acquisition.

The acquisition of Cigna's business in Asia generated $1,177 million of goodwill, attributable to expected growth and profitability, and $309 million of other intangible assets. None of the goodwill is expected to be deductible for income tax purposes. Additionally, the acquisition of Cigna's business in Asia generated $3,633 million of value of business acquired (VOBA). Chubb financed the transaction through a combination of available cash and $2.0 billion in repurchase agreements that expired at the end of 2022.

The following table summarizes Chubb's best estimate of fair value of the assets acquired and liabilities assumed at July 1, 2022. These estimates remain preliminary and are subject to adjustment. While they are not expected to be materially different than those shown, any material adjustments to the estimates will be reflected, retroactively, as of the date of the acquisition as a measurement period adjustment.


Preliminary estimate of assets acquired and liabilities assumed from Cigna's business in Asia	July 1
(in millions of U.S. dollars)	2022
Assets
Investments and Cash	$	5,274
Accrued investment income	33
Insurance and reinsurance balances receivable	52
Reinsurance recoverable on losses and loss expenses	3
Reinsurance recoverable on future policy benefits	85
Value of business acquired	3,633
Goodwill and intangible assets	1,486
Other assets	648
Total assets	$	11,214
Liabilities
Unpaid losses and loss expenses	$	12
Unearned premiums	60
Future policy benefits	3,856
Insurance and reinsurance balances payable	115
Accounts payable, accrued expenses, and other liabilities	926
Deferred tax liabilities	886
Total liabilities	$	5,855

Net acquired assets, including goodwill	5,359
Total	$	11,214

Direct costs related to the acquisition were expensed as incurred. Cigna integration expenses were $22 million for the three months ended March 31, 2023, and include one-time costs that are directly attributable to third-party consulting fees, employee-related retention costs, and other professional and legal fees related to the acquisition.

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


	Three Months Ended
Pro forma:	March 31
(in millions of U.S. dollars)	2022
Net premiums earned	$	9,512
Total revenues	$	10,417
Net income	$	2,059

Huatai Group

Chubb maintains a direct investment in Huatai Insurance Group Co., Ltd. (Huatai Group). Huatai Group is the parent company of, and owns 100 percent of, Huatai Property & Casualty Insurance Co., Ltd. (Huatai P&C), 80 percent of Huatai Life Insurance Co., Ltd. (Huatai Life), and 82 percent of Huatai Asset Management Co., Ltd. (collectively, Huatai). Chubb also holds a direct 20 percent interest in Huatai Life. Huatai Group's insurance operations have more than 700 branches and approximately 19 million customers in China.

On January 4, 2023, we completed transactions that increased our ownership interest in Huatai Group from 47.3 percent to approximately 64.2 percent. At March 31, 2023, we have agreements in place to acquire approximately 22 percent of incremental ownership interests, pending completion of certain closing conditions. Of those incremental ownership interests, approximately 3 percent also require regulatory approval. We have paid deposits of $567 million for the approximately 22 percent of ownership interests and, at March 31, 2023, the remaining aggregate purchase price to be paid upon closing is approximately $0.8 billion, based on current exchange rates. Chubb applies the equity method of accounting to its investment in Huatai Group by recording its share of net income or loss in Other (income) expense in the Consolidated statements of operations. Refer to Note 2 to the Consolidated Financial Statements in our 2022 Form 10-K for additional information.

Investments

3 Months Ended

Mar. 31, 2023

Investments

3. Investments

a) Fixed maturities


March 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	$	2,798	$	—	$	8	$	(127)	$	2,679
Non-U.S.	28,860		(60)		263		(1,671)		27,392
Corporate and asset-backed securities	41,316		(106)		104		(2,854)		38,460
Mortgage-backed securities	17,863		(2)		11		(1,770)		16,102
Municipal	3,872		—		12		(153)		3,731
	$	94,709	$	(168)	$	398	$	(6,575)	$	88,364


	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,371	$	—	$	1,371	$	4	$	(35)	$	1,340
Non-U.S.	1,110		(4)		1,106		—		(70)		1,036
Corporate and asset-backed securities	1,699		(28)		1,671		2		(97)		1,576
Mortgage-backed securities	1,373		(1)		1,372		—		(90)		1,282
Municipal	2,905		—		2,905		2		(32)		2,875
	$	8,458	$	(33)	$	8,425	$	8	$	(324)	$	8,109


December 31, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,792	$	—	$	5	$	(171)	$	2,626
Non-U.S.	28,064		(59)		108		(2,205)		25,908
Corporate and asset-backed securities	40,547		(107)		49		(3,534)		36,955
Mortgage-backed securities	17,871		(3)		4		(2,021)		15,851
Municipal	4,081		—		8		(209)		3,880
	$	93,355	$	(169)	$	174	$	(8,140)	$	85,220


	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,417	$	—	$	1,417	$	1	$	(48)	$	1,370
Non-U.S.	1,140		(4)		1,136		—		(82)		1,054
Corporate and asset-backed securities	1,733		(28)		1,705		1		(126)		1,580
Mortgage-backed securities	1,456		(1)		1,455		—		(104)		1,351
Municipal	3,136		(1)		3,135		1		(52)		3,084
	$	8,882	$	(34)	$	8,848	$	3	$	(412)	$	8,439

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


	March 31, 2023				December 31, 2022
(in millions of U.S. dollars, except for percentages)	Amortized cost		% of Total		Amortized cost		% of Total
AAA	$	1,505	18	%	$	1,612	18	%
AA	4,760		56	%	5,023		57	%
A	1,594		19	%	1,634		18	%
BBB	579		7	%	593		7	%
BB	20		—	%	20		—	%

Total	$	8,458	100	%	$	8,882	100	%

The following table presents fixed maturities by contractual maturity:


	March 31, 2023				December 31, 2022
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available for sale
Due in 1 year or less	$	3,020	$	3,020	$	2,962	$	2,962
Due after 1 year through 5 years	26,248		26,248		24,791		24,791
Due after 5 years through 10 years	27,608		27,608		26,679		26,679
Due after 10 years	15,386		15,386		14,937		14,937
	72,262		72,262		69,369		69,369
Mortgage-backed securities	16,102		16,102		15,851		15,851
	$	88,364	$	88,364	$	85,220	$	85,220
Held to maturity
Due in 1 year or less	$	1,048	$	1,035	$	1,015	$	1,003
Due after 1 year through 5 years	3,409		3,313		3,658		3,531
Due after 5 years through 10 years	1,385		1,361		1,460		1,423
Due after 10 years	1,211		1,118		1,260		1,131
	7,053		6,827		7,393		7,088
Mortgage-backed securities	1,372		1,282		1,455		1,351
	$	8,425	$	8,109	$	8,848	$	8,439

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, 2023, and December 31, 2022, 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 e) in the 2022 Form 10-K for further information on factors considered in the evaluation of expected credit losses.

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


	0 – 12 Months				Over 12 Months				Total
March 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	$	1,564	$	(39)	$	912	$	(88)	$	2,476	$	(127)
Non-U.S.	7,195		(243)		11,689		(1,004)		18,884		(1,247)
Corporate and asset-backed securities	13,577		(507)		15,222		(1,356)		28,799		(1,863)
Mortgage-backed securities	4,769		(205)		10,427		(1,528)		15,196		(1,733)
Municipal	2,172		(30)		735		(123)		2,907		(153)
Total AFS fixed maturities	$	29,277	$	(1,024)	$	38,985	$	(4,099)	$	68,262	$	(5,123)


	0 – 12 Months				Over 12 Months				Total
December 31, 2022	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. Treasury / Agency	$	2,152	$	(125)	$	386	$	(46)	$	2,538	$	(171)
Non-U.S.	15,538		(1,012)		5,490		(704)		21,028		(1,716)
Corporate and asset-backed securities	25,687		(1,793)		4,190		(552)		29,877		(2,345)
Mortgage-backed securities	10,561		(1,033)		4,770		(941)		15,331		(1,974)
Municipal	3,251		(152)		155		(48)		3,406		(200)
Total AFS fixed maturities	$	57,189	$	(4,115)	$	14,991	$	(2,291)	$	72,180	$	(6,406)

At March 31, 2023, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $646 million necessary due to limitations on the utilization of these losses. As part of evaluating whether it was more likely than not that we could realize these losses, we considered realized gains, carryback capacity and available tax planning strategies.

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	169	$	14

Provision for expected credit loss	59		17

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

Recovery of expected credit loss	(58)		(4)
Valuation allowance for expected credit losses - end of period	$	168	$	27
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	35




Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	33	$	34

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)	2023		2022
Fixed maturities:



Gross realized gains	$	2	$	39
Gross realized losses	(159)		(127)
Net (provision for) recovery of expected credit losses	2		(12)
Impairment (1)	(25)		(36)
Total fixed maturities	(180)		(136)
Equity securities	11		56

Other investments	15		55
Foreign exchange	131		74
Investment and embedded derivative instruments	(46)		47
Other derivative instruments	(1)		1
Other	(7)		(74)
Net realized gains (losses) (pre-tax)	$	(77)	$	23

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

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


							Three Months Ended
							March 31
	2023						2022
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	11	$	15	$	26	$	56	$	55	$	111
Less: Net gains (losses) recognized from sales of securities	(5)		—		(5)		255		—		255
Unrealized gains (losses) recognized for securities still held at reporting date	$	16	$	15	$	31	$	(199)	$	55	$	(144)

d) Alternative investments

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


	Expected Liquidation Period of Underlying Assets	March 31, 2023				December 31, 2022
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,146	$	472	$	1,074	$	505
Real assets	2 to 13 Years	2,114		640		2,166		681
Distressed	2 to 8 Years	1,096		659		1,048		755
Private credit	3 to 8 Years	216		322		215		429
Traditional	2 to 14 Years	7,800		4,654		7,424		5,025
Vintage	1 to 2 Years	56		—		55		—
Investment funds	Not Applicable	377		—		373		—
		$	12,805	$	6,747	$	12,355	$	7,395

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, 2023 and December 31, 2022 are investments, primarily fixed maturities, totaling $16,021 million and $15,721 million, respectively, and cash of $94 million and $115 million, respectively.

The following table presents the components of restricted assets:


	March 31		December 31
(in millions of U.S. dollars)	2023		2022
Trust funds	$	8,263	$	8,120
Deposits with U.S. regulatory authorities	2,350		2,345
Deposits with non-U.S. regulatory authorities	3,094		2,959
Assets pledged under repurchase agreements	1,503		1,527
Other pledged assets	905		885
Total	$	16,115	$	15,836

Fair value measurements

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair value measurements

a) Fair value hierarchy

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

The three levels of the hierarchy are as follows:

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

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

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

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

would use in pricing an asset or liability.

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

We use pricing services to obtain fair value measurements for the majority of our investment securities. Based on management’s understanding of the methodologies used, these pricing services only produce an estimate of fair value if there is observable

market information that would allow them to make a fair value estimate. Based on our understanding of the market inputs used by the pricing services, all applicable investments have been valued in accordance with GAAP. We do not adjust prices obtained from pricing services. The following is a description of the valuation techniques and inputs used to determine fair values for financial instruments carried at fair value, as well as the general classification of such financial instruments pursuant to the valuation hierarchy.

Fixed maturities

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

Equity securities

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

Short-term investments

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

Other investments

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

Securities lending collateral

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

Investment derivatives

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 claims and, therefore, an increase in market risk benefits (MRB) reserves and our MRB reinsurance business. Our positions in exchange-traded equity futures contracts are classified within Level 1. The fair value of the majority of the remaining positions in other derivative instruments is based on significant observable inputs including equity security and interest rate indices. Accordingly, these are classified within Level 2. Other derivative instruments based on unobservable inputs are classified within Level 3. Other derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Separate account assets

Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. Separate account assets 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, 2023	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	2,119	$	560	$	—	$	2,679
Non-U.S.	—		26,831		561		27,392
Corporate and asset-backed securities	—		35,916		2,544		38,460
Mortgage-backed securities	—		16,092		10		16,102
Municipal	—		3,731		—		3,731
	2,119		83,130		3,115		88,364
Equity securities	854		—		88		942
Short-term investments	1,856		1,830		7		3,693
Other investments (1)	559		423		—		982
Securities lending collateral	—		1,582		—		1,582
Investment derivatives	59		—		—		59
Derivatives designated as hedging instruments	—		8		—		8
Other derivative instruments	5		—		—		5
Separate account assets	5,198		102		—		5,300
Total assets measured at fair value (1)	$	10,650	$	87,075	$	3,210	$	100,935
Liabilities:
Investment derivatives	$	158	$	—	$	—	$	158
Derivatives designated as hedging instruments	—		82		—		82
Other derivative instruments	45		2		—		47
Market risk benefits (2)	—		—		830		830
Total liabilities measured at fair value	$	203	$	84	$	830	$	1,117

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,805 million, policy loans of $358 million, and other investments of $47 million at March 31, 2023, measured using NAV as a practical expedient.

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


December 31, 2022	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	2,100	$	526	$	—	$	2,626
Non-U.S.	—		25,344		564		25,908
Corporate and asset-backed securities	—		34,506		2,449		36,955
Mortgage-backed securities	—		15,840		11		15,851
Municipal	—		3,880		—		3,880
	2,100		80,096		3,024		85,220
Equity securities	737		—		90		827
Short-term investments	3,108		1,849		3		4,960
Other investments (1)	552		399		—		951
Securities lending collateral	—		1,523		—		1,523
Investment derivative instruments	82		—		—		82
Derivatives designated as hedging instruments	—		17		—		17
Other derivative instruments	33		—		—		33
Separate account assets	5,101		89		—		5,190
Total assets measured at fair value (1)	$	11,713	$	83,973	$	3,117	$	98,803
Liabilities:
Investment derivatives	$	139	$	—	$	—	$	139
Derivatives designated as hedging instruments	—		53		—		53
Market risk benefits (2)	—		—		800		800

Total liabilities measured at fair value	$	139	$	53	$	800	$	992

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,355 million, policy loans of $343 million and other investments of $47 million at December 31, 2022, measured using NAV as a practical expedient.

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

Level 3 financial instruments

The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):


	Assets
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)


		Assets
Three Months Ended March 31, 2022 (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		$	633		$	2,049		$	26	$	77	$	7
Transfers into Level 3		18			29			—		1		—
Transfers out of Level 3		(23)			(50)			(5)		—		—
Change in Net Unrealized Gains/Losses in OCI		(13)			(22)			—		—		—

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

Purchases		43			315			—		3		2
Sales		(6)			(27)			—		(3)		—
Settlements		(32)			(65)			(1)		—		(5)

Balance, end of period		$	618		$	2,229		$	20	$	82	$	4
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	(2)		$	—		$	—	$	4	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(13)		$	(22)		$	—	$	—	$	—

Excluded from the tables above is the reconciliation of Market risk benefits, which are presented in Note 11 Market risk benefits. Refer to Note 11 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 2022 Form 10-K for information on the fair value methods and assumptions for investments in partially-owned insurance companies, short-term and long-term debt, repurchase agreements, and trust-preferred securities.

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


March 31, 2023	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,267	$	73	$	—	$	1,340	$	1,371
Non-U.S.	—		1,036		—		1,036		1,106
Corporate and asset-backed securities	—		1,576		—		1,576		1,671
Mortgage-backed securities	—		1,282		—		1,282		1,372
Municipal	—		2,875		—		2,875		2,905
Total assets	$	1,267	$	6,842	$	—	$	8,109	$	8,425
Liabilities:
Repurchase agreements	$	—	$	1,420	$	—	$	1,420	$	1,420

Long-term debt	—		12,892		—		12,892		14,375
Trust preferred securities	—		368		—		368		308
Total liabilities	$	—	$	14,680	$	—	$	14,680	$	16,103


December 31, 2022	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,299	$	71	$	—	$	1,370	$	1,417
Non-U.S.	—		1,054		—		1,054		1,136
Corporate and asset-backed securities	—		1,580		—		1,580		1,705
Mortgage-backed securities	—		1,351		—		1,351		1,455
Municipal	—		3,084		—		3,084		3,135
Total assets	$	1,299	$	7,140	$	—	$	8,439	$	8,848
Liabilities:
Repurchase agreements	$	—	$	1,419	$	—	$	1,419	$	1,419
Short-term debt	—		473		—		473		475
Long-term debt	—		12,495		—		12,495		14,402
Trust preferred securities	—		383		—		383		308
Total liabilities	$	—	$	14,770	$	—	$	14,770	$	16,604

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, 2023

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance


	March 31, 2023				December 31, 2022
(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	$	16,520	$	294	$	17,086	$	289
Reinsurance recoverable on paid losses and loss expenses	1,621		57		1,773		62
Reinsurance recoverable on losses and loss expenses	$	18,141	$	351	$	18,859	$	351
Reinsurance recoverable on policy benefits	$	279	$	1	$	302	$	4

(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 collections.

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Valuation allowance for uncollectible reinsurance - beginning of period	$	351	$	329
Provision for uncollectible reinsurance	5		3
Write-offs charged against the valuation allowance	(5)		(4)
Foreign exchange revaluation	—		1

Valuation allowance for uncollectible reinsurance - end of period	$	351	$	329

Deferred acquisition costs

3 Months Ended

Mar. 31, 2023

Deferred Policy Acquisition Costs

Deferred acquisition costs

Deferred acquisition costs comprise capitalized costs on short-duration contracts of $3,010 million and $2,808 million and long-duration contracts of $3,286 million and $2,974 million at March 31, 2023, and March 31, 2022, respectively. The assumptions used to amortize DAC were consistent with the assumptions used to estimate the liability for future policy benefits for nonparticipating traditional and limited-payment contracts.

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, 2023

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	320	$	776	$	395	$	902	$	121	$	2,514
Capitalizations	36		25		24		126		3		214
Amortization expense	(24)		(19)		(5)		(30)		(5)		(83)

Other (including foreign exchange)	5		1		(1)		(7)		—		(2)
Balance - end of period	$	337	$	783	$	413	$	991	$	119	$	2,643
Overseas General Insurance segment excluded from table											643
Total deferred acquisition costs on long-duration contracts											$	3,286


	Three Months ended March 31, 2022

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	246	$	771	$	334	$	745	$	108	$	2,204
Capitalizations	34		29		10		24		20		117
Amortization expense	(16)		(18)		(5)		(25)		(5)		(69)

Other (including foreign exchange)	5		(8)		(2)		—		(3)		(8)
Balance - end of period	$	269	$	774	$	337	$	744	$	120	$	2,244
Overseas General Insurance segment excluded from table											730
Total deferred acquisition costs on long-duration contracts											$	2,974

Goodwill, Other intangible assets, and Value of business acquired

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Value of business acquired

Goodwill

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


(in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Chubb Consolidated
Balance at December 31, 2022	$	6,945	$	2,230	$	134	$	4,605	$	371	$	1,943	$	16,228

Foreign exchange revaluation and other	(9)		(3)		—		(3)		—		(38)		(53)
Balance at March 31, 2023	$	6,936	$	2,227	$	134	$	4,602	$	371	$	1,905	$	16,175

VOBA

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

The following table presents a roll-forward of VOBA:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023
Balance, beginning of period	$	3,702

Amortization of VOBA (1)	(83)
Foreign exchange revaluation and other	(16)
Balance, end of period	$	3,603

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

During the three months ended March 31, 2023, amortization of VOBA associated with the acquisition of Cigna’s business in Asia was $78 million pre-tax.

Unpaid losses and loss expenses

3 Months Ended

Mar. 31, 2023

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)	2023		2022
Gross unpaid losses and loss expenses – beginning of period	$	75,747	$	72,330
Reinsurance recoverable on unpaid losses – beginning of period (1)	(17,086)		(16,132)
Net unpaid losses and loss expenses – beginning of period	58,661		56,198


Net losses and loss expenses incurred in respect of losses occurring in:
Current year	5,336		4,963
Prior years (2)	(188)		(399)
Total	5,148		4,564
Net losses and loss expenses paid in respect of losses occurring in:
Current year	805		593
Prior years	3,911		3,569
Total	4,716		4,162
Foreign currency revaluation and other	(196)		3
Net unpaid losses and loss expenses – end of period	58,897		56,603
Reinsurance recoverable on unpaid losses (1)	16,520		16,593
Gross unpaid losses and loss expenses – end of period	$	75,417	$	73,196

(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 development on international A&H lines totaling $(8) million and $159 million for the three months ended March 31, 2023 and 2022, respectively.

Gross unpaid losses and loss expenses decreased $330 million for the three months ended March 31, 2023, principally reflecting underlying exposure growth that was more than offset by the favorable impact of foreign currency movement, a large payment related to the Boy Scouts of America agreement, and a non-recurring transaction in the quarter. In addition, there was an increase in net unpaid losses and loss expenses of $236 million reflecting the factors noted above as well as higher collections in the quarter.

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
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)
2022
North America Commercial P&C Insurance		$	(20)	$	(88)	$	(108)
North America Personal P&C Insurance		—		(51)		(51)
North America Agricultural Insurance		—		(26)		(26)
Overseas General Insurance		—		(60)		(60)
Global Reinsurance		—		(3)		(3)
Corporate		8		—		8
Total		$	(12)	$	(228)	$	(240)

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, 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.

Net favorable development for the three months ended March 31, 2022, included favorable development in A&H lines of $76 million, which experienced lower than expected loss emergence. The favorable development was partially offset by adverse development in commercial umbrella and excess portfolios of $60 million driven by higher than expected loss emergence.

North America Personal P&C Insurance. Net adverse development for the three months ended March 31, 2023, was $17 million with no individually significant movements. Net favorable development for the three months ended March 31, 2022, included favorable development in the homeowners line of business from a reserve release due to lower than expected paid and reported loss activity attributable to the indirect effects of COVID related economic slowdown.

Overseas General Insurance. Net favorable development for the three months ended March 31, 2023, included $85 million in property lines, driven by favorable catastrophe development of $43 million, and non-catastrophe loss emergence in Continental Europe and the U.K.

Net favorable development for the three months ended March 31, 2022, included favorable development in property and A&H lines of business.

Molestation claimsIn the first quarter of 2023, the District Court issued an order approving the Boy Scouts of America (BSA) bankruptcy plan in full. There are no changes to the terms of the agreement which are consistent with the 2022 10-K disclosure. We paid $800 million per the agreement, with $300 million paid in 2022, $200 million paid during the first quarter of 2023, and the remaining $300 million paid in April 2023. Refer to the 2022 10-K for additional information on molestation claims.

Future policy benefits

3 Months Ended

Mar. 31, 2023

Liability for Future Policy Benefits Activity [Abstract]

Liability for future policy benefits

uture 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, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	818	$	1,546	$	10,618	$	42	$	13,024
Beginning balance at original discount rate	879		1,600		11,163		43		13,685
Effect of changes in cash flow assumptions	17		(1)		(786)		1		(769)
Effect of actual variances from expected experience	(3)		(9)		(29)		—		(41)
Adjusted beginning of period balance	893		1,590		10,348		44		12,875
Issuances	36		50		312		1		399
Interest accrual	29		15		126		—		170
Net premiums collected (1)	(44)		(60)		(349)		(6)		(459)
Derecognition (lapses)	(2)		1		(54)		(1)		(56)
Other (including foreign exchange)	—		(1)		32		1		32
Ending balance at original discount rate	912		1,595		10,415		39		12,961
Effect of changes in discount rate assumptions	(62)		(40)		(206)		(3)		(311)
Balance – end of period	$	850	$	1,555	$	10,209	$	36	$	12,650

(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	$	1,429	$	4,781	$	15,457	$	253	$	21,920
Beginning balance at original discount rate	1,556		4,973		16,259		264		23,052
Effect of changes in cash flow assumptions	20		(1)		(798)		2		(777)
Effect of actual variances from expected experience	(1)		(7)		(26)		1		(33)
Adjusted beginning of period balance	1,575		4,965		15,435		267		22,242
Issuances	36		49		309		1		395
Interest accrual	32		48		160		2		242
Benefits payments	(46)		(59)		(368)		(3)		(476)
Derecognition (lapses)	(2)		1		(56)		(1)		(58)
Other (including foreign exchange)	(70)		(292)		448		(24)		62
Ending balance at original discount rate	1,525		4,712		15,928		242		22,407
Effect of changes in discount rate assumptions	(135)		(98)		(388)		(4)		(625)
Balance – end of period	$	1,390	$	4,614	$	15,540	$	238	$	21,782


	March 31, 2023
Liability for Future Policy Benefits	Life Insurance						Overseas General Insurance		Chubb Consolidated
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		A&H		Total
Net liability for future policy benefits	$	540	$	3,059	$	5,331	$	202	$	713	$	9,845
Deferred profit liability	209		555		160		13		—		937
Net liability for future policy benefits, per consolidated balance sheet	749		3,614		5,491		215		713		10,782
Less: Reinsurance recoverable on future policy benefits	143		30		82		—		24		279
Net liability for future policy benefits, after reinsurance recoverable	$	606	$	3,584	$	5,409	$	215	$	689	$	10,503
Weighted average duration (years)	8.0		21.2		10.3		14.5		5.0		13.5


Present Value of Expected Net Premiums	Three Months Ended March 31, 2022
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	422	$	1,341	$	2,520	$	30	$	4,313
Beginning balance at original discount rate	397		1,243		2,323		28		3,991
Effect of changes in cash flow assumptions	—		(2)		—		—		(2)
Effect of actuarial variances from expected experience	(9)		(8)		(37)		—		(54)
Adjusted beginning of period balance	388		1,233		2,286		28		3,935
Issuances	41		38		33		1		113
Interest accrual	25		11		37		—		73
Net premiums collected (1)	(27)		(41)		(64)		(3)		(135)


Other (including foreign exchange)	(2)		(6)		—		—		(8)
Ending balance at original discount rate	425		1,235		2,292		26		3,978
Effect of changes in discount rate assumptions	6		46		94		1		147
Balance – end of period	$	431	$	1,281	$	2,386	$	27	$	4,125

(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, 2022
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	921	$	4,785	$	4,939	$	130	$	10,775
Beginning balance at original discount rate	858		3,833		4,589		122		9,402
Effect of changes in cash flow assumptions	(5)		(2)		—		11		4
Effect of actuarial variances from expected experience	(9)		(7)		(38)		—		(54)
Adjusted beginning of period balance	844		3,824		4,551		133		9,352
Issuances	42		38		34		—		114
Interest accrual	27		37		51		1		116
Benefits payments	(21)		(46)		(83)		—		(150)


Other (including foreign exchange)	(9)		(27)		(6)		—		(42)
Ending balance at original discount rate	883		3,826		4,547		134		9,390
Effect of changes in discount rate assumptions	7		568		162		4		741
Balance – end of period	$	890	$	4,394	$	4,709	$	138	$	10,131


	March 31, 2022
Liability for Future Policy Benefits	Life Insurance						Overseas General Insurance		Chubb Consolidated
(in millions of U.S. dollars, except for years)	Term Life		Whole Life		A&H		Other		A&H		Total
Net liability for future policy benefits	$	459	$	3,113	$	2,323	$	111	$	772	$	6,778
Deferred profit liability	152		401		98		8		—		659
Net liability for future policy benefits, per consolidated balance sheet	611		3,514		2,421		119		772		7,437
Less: Reinsurance recoverable on future policy benefits	115		33		61		—		33		242
Net liability for future policy benefits, after reinsurance recoverable	$	496	$	3,481	$	2,360	$	119	$	739	$	7,195
Weighted average duration (years)	8.3		20.1		10.4		30.0		5.3		14.2

The following table presents the amount of undiscounted 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)	2023		2022

Term Life
Undiscounted expected future benefit payments	$	2,352	$	1,309
Undiscounted expected future gross premiums	2,673		1,437
Discounted expected future benefit payments	1,390		890
Discounted expected future gross premiums	1,787		1,122
Whole Life
Undiscounted expected future benefit payments	14,656		9,870
Undiscounted expected future gross premiums	5,375		3,531
Discounted expected future benefit payments	4,614		4,394
Discounted expected future gross premiums	3,994		2,597
A&H
Undiscounted expected future benefit payments	21,563		6,027
Undiscounted expected future gross premiums	31,611		8,914
Discounted expected future benefit payments	15,540		4,709
Discounted expected future gross premiums	18,958		6,209
Other
Undiscounted expected future benefit payments	370		215
Undiscounted expected future gross premiums	97		74
Discounted expected future benefit payments	238		138
Discounted expected future gross premiums	$	87	$	65

The following table presents the amount of revenue and interest recognized in the statement of operations:


	Gross Premiums or Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2023		2022		2023		2022
Life Insurance
Term Life	$	170	$	49	$	3	$	2

Whole Life	162		74		33		26
A&H	795		290		34		14
Other	19		82		2		1
Overseas General Insurance
A&H	364		365		—		—
Total	$	1,510	$	860	$	72	$	43

The following table presents the weighted-average interest rates:


	Interest Accretion Rate				Current Discount Rate
	Three Months Ended				Three Months Ended
	March 31				March 31
	2023		2022		2023		2022
Life Insurance
Term Life	2.9	%	2.4	%	6.5	%	3.6	%

Whole Life	4.4	%	4.4	%	6.1	%	4.6	%
A&H	4.2	%	3.9	%	6.7	%	4.0	%
Other	3.8	%	3.7	%	4.8	%	3.4	%

Policyholders' account balances

3 Months Ended

Mar. 31, 2023

Policyholder Account Balance [Abstract]

Liability for policyholders' account balance

olicyholders' account balances

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


	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance, beginning of period	$	1,719	$	1,421	$	3,140

Premiums received	85		25		110
Policy charges (1)	(45)		(3)		(48)
Surrenders and withdrawals	(16)		(15)		(31)
Benefit payments	(4)		(7)		(11)

Interest credited	11		5		16
Other (including foreign exchange)	(4)		6		2
Balance, end of period	$	1,746	$	1,432	$	3,178


	Three Months Ended March 31, 2022
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance, beginning of period	$	1,612	$	1,154	$	2,766

Premiums received	95		28		123
Policy charges (1)	(46)		(2)		(48)
Surrenders and withdrawals	(14)		(17)		(31)
Benefit payments	(2)		(5)		(7)

Interest credited	11		6		17
Other (including foreign exchange)	(6)		(46)		(52)
Balance, end of period	$	1,650	$	1,118	$	2,768

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



	March 31
	2023						2022
(in millions of U.S. dollars, except for percentages)	Universal Life			Other			Universal Life			Other
Weighted-average crediting rate	3.6		%	2.6		%	3.6		%	3.4		%
Net amount at risk (1)	$	9,934		$	1,450		$	10,259		$	518
Cash Surrender Value	$	937		$	1,137		$	869		$	865

(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, 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
0.00% – 2.00%	$	3	$	—	$	388	$	846	$	1,237
2.01% – 4.00%	453		56		—		—		509

Total	$	456	$	56	$	388	$	846	$	1,746


	March 31, 2022
(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
0.00% – 2.00%	$	4	$	—	$	420	$	743	$	1,167
2.01% – 4.00%	238		210		35		—		483

Total	$	242	$	210	$	455	$	743	$	1,650

Other policyholders' account balances


	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
0.00% – 2.00%	$	154	$	547	$	188	$	543	$	1,432


Total	$	154	$	547	$	188	$	543	$	1,432


	March 31, 2022
(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
0.00% – 2.00%	$	—	$	530	$	219	$	369	$	1,118


Total	$	—	$	530	$	219	$	369	$	1,118

Market risk benefits

3 Months Ended

Mar. 31, 2023

Market Risk Benefit [Abstract]

Separate Accounts Disclosure [Abstract]

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)	2023		2022
Balance – beginning of period	$	800	$	812
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	776		755



Interest rate changes	63		(140)
Effect of changes in equity markets	(75)		111
Effect of changes in volatilities	57		37



Effect of timing and all other	(18)		(32)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	803	$	731
Effect of changes in the instrument-specific credit risk	27		34
Balance – end of period	$	830	$	765
Weighted-average age of policyholders (years)	73		73
Net amount at risk	$	2,296	$	1,913

Excluded from the table above are MRB gains (losses) of $(89) million and $26 million for the three months ended March 31, 2023 and 2022, 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 reinsurance, 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, 2023

March 31, 2022

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

1% – 30%

4.0

%

3% – 31%

4.4

%

Annuitization rate

0% – 100%

4.4

%

0% – 100%

3.7

%

(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 the annuitization rates which is applicable to GLB only. Assumptions regarding lapse rates and GLB annuitization rates differ by treaty, but the underlying methodologies to determine rates applied to each treaty are comparable.

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

The GLB annuitization rate is the percentage of policies for which the policyholder will elect to annuitize using the guaranteed benefit provided under the GLB. All else equal, as GLB annuitization rates increase, ultimate claim payments will increase, subject to treaty claim limits. All GLB reinsurance treaties include claim limits to protect Chubb in the event that actual annuitization behavior is significantly higher than expected. In general, Chubb assumes that GLB annuitization rates will be

higher for policies with more valuable guarantees (policies with guaranteed values far in excess of their account values). Chubb also assumes that GLB annuitization rates increase as policyholders get older. In addition, it is also assumed that GLB annuitization rates are higher in the first year immediately following the waiting period (the first year the policies are eligible to annuitize using the GLB) in comparison to all subsequent years. Chubb does not yet have fully credible annuitization experience for all clients.The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. For treaties with limited experience, rates are established by blending the experience with data received from other ceding companies. The model and related assumptions are regularly re-evaluated by management and enhanced, as appropriate, based upon additional experience obtained related to policyholder behavior and availability of updated information such as market conditions, market participant assumptions, and demographics of in-force annuities.

Separate accounts

3 Months Ended

Mar. 31, 2023

Separate Accounts

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		December 31
(in millions of U.S. dollars)	2023		2022
Cash and cash equivalents	$	116	$	141

Mutual funds	5,082		4,960

Fixed maturities	102		89

Total	$	5,300	$	5,190

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Balance – beginning of period	$	5,190	$	5,560
Premiums and deposits	158		467
Policy charges	(15)		(31)
Surrenders and withdrawals	(6)		(124)
Benefit payments	(98)		(95)
Investment performance	83		(283)

Other (including foreign exchange)	(12)		66
Balance – end of period	$	5,300	$	5,560
Cash surrender value (1)	$	5,124	$	4,994

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

Commitments, contingencies, and guarantees

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments, contingencies, and guarantees

a) Derivative instruments

Chubb maintains positions in derivative instruments such as futures, options, swaps, and foreign currency forward contracts for which the primary purposes are to manage duration and foreign currency exposure, yield enhancement, or to obtain an exposure to a particular financial market. Chubb also maintains positions in convertible securities that contain embedded derivatives, and exchange-traded equity futures contracts on equity market indices to limit equity exposure in the MRB book of business. Investment derivative instruments 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 locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments:


				March 31, 2023								December 31, 2022
	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)	$	33	$	(128)	$	4,387		$	64		$	(115)	$	4,134
Options/Futures contracts on notes and bonds	OA / (AP)	26		(30)		1,861			18			(24)		1,511
Convertible securities (1)	FM AFS / ES	30		—		37			30			—		37
		$	89	$	(158)	$	6,285		$	112		$	(139)	$	5,682
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	—	$	(45)	$	925		$	33		$	—	$	939
Other	OA / (AP)	5		(2)		457			—			—		—
		$	5	$	(47)	$	1,382		$	33		$	—	$	939
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	8	$	—	$	1,587		$	17		$	—	$	1,595
Cross-currency swaps - net investment hedges	OA / (AP)	—		(82)		1,579			—			(53)		1,604
		$	8	$	(82)	$	3,166		$	17		$	(53)	$	3,199

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

At March 31, 2023, and December 31, 2022, net derivative liabilities of $214 million and $60 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.

(i) Cross-currency swaps - fair value hedges

In September 2022, Chubb entered into certain cross-currency swaps designated as fair value hedges. The objective of these cross-currency swaps is to hedge the foreign currency risk on €1.5 billion, or approximately $1.6 billion at March 31, 2023, of our euro denominated debt, by converting cash flows back into the U.S. dollar.

These fair value hedges are carried at fair value. The hedges are expected to be highly effective, with gains or losses on the fair value hedges offsetting the foreign currency remeasurement on the hedged euro denominated senior notes within Net realized gains (losses). The remaining change in fair value is recorded in Other comprehensive income (OCI), with an immaterial amount recorded in Interest expense.

For the three months ended March 31, 2023, we recognized a net loss of $17 million, comprising $20 million of net realized gains, $4 million of interest expense, and a remaining change in fair value of $33 million pre-tax of other comprehensive loss recorded within OCI.

(ii) Cross-currency swaps - net investment hedges

In September 2022, Chubb entered into certain cross-currency swaps designated as net investment hedges. The objective of these cross-currency swaps is to hedge the foreign currency exposure in the net investments of certain foreign subsidiaries by converting cash flows from U.S. dollar to the British pound sterling, Japanese yen, and Swiss franc. The hedged risk is designated as the foreign currency exposure arising between the functional currency of the foreign subsidiary and the functional currency of its parent entity.

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

For the three months ended March 31, 2023, we recognized a net loss of $23 million, comprising $26 million pre-tax of cumulative translation losses recorded in OCI, and $3 million of interest income.

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(51)	$	(54)

All other futures contracts, options, and equities	5		102
Convertible securities (1)	—		(1)

Total investment and embedded derivative instruments	$	(46)	$	47
Other derivative instruments:
Futures contracts on equities (2)	(57)		42
Other	(1)		1
Total other derivative instruments	$	(58)	$	43
	$	(104)	$	90

(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, 2023		December 31, 2022
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	842	$	820
U.S. Treasury / Agency	78		72
Non-U.S.	626		604
Corporate and asset-backed securities	36		27




	$	1,582	$	1,523
Gross amount of recognized liability for securities lending payable	$	1,582	$	1,523

At March 31, 2023, and December 31, 2022, our repurchase agreement obligations of $1,420 million and $1,419 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase obligations. The fair value of the underlying securities sold remains in Fixed maturities available for sale, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets.

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


	Remaining contractual maturity
	March 31, 2023						December 31, 2022
	Up to 30 Days		30-90 Days		Total		Up to 30 Days		30-90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	7	$	—	$	7	$	12	$	—	$	12
U.S. Treasury / Agency	—		102		102		—		101		101


Mortgage-backed securities	907		487		1,394		921		493		1,414
	$	914	$	589	$	1,503	$	933	$	594	$	1,527
Gross amount of recognized liabilities for repurchase agreements					$	1,420					$	1,419
Difference (1)					$	83					$	108

(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, 2023, and December 31, 2022, commitments to purchase fixed income securities over the next several years were $810 million and $770 million, respectively.

f) Other investments

At March 31, 2023, included in Other investments in the Consolidated balance sheet are investments in limited partnerships and partially-owned investment companies with a carrying value of $12.4 billion. In connection with these investments, we have commitments that may require funding of up to $6.7 billion over the next several years. At December 31, 2022, these investments had a carrying value of $12.0 billion with commitments that may have required funding of up to $7.4 billion.

g) Income taxes

At March 31, 2023, $66 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, 2023, and December 31, 2022, the right-of-use asset was $571 million and $607 million, respectively, recorded within Other assets, and the lease liability was $595 million and $633 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, 2023

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, 2023, our Common Shares had a par value of CHF 24.15 per share.

At our May 2022 and 2021 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.32 per share and $3.20 per share, respectively, which were paid in four quarterly installments of $0.83 per share and $0.80 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, 2023 and 2022, were $0.83 (CHF 0.77) and $0.80 (CHF 0.74), 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 the Chubb Limited Extraordinary General Meeting of Shareholders, held on November 3, 2021, shareholders approved the cancellation of 14,465,400 shares repurchased under our share repurchase program during the first six months of 2021. The capital reduction by cancellation of shares was subject to publication requirements and a two-month waiting period in accordance with Swiss law and became effective on January 17, 2022. At our May 2022 annual general meeting, held on May 19, 2022, our shareholders approved the cancellation of 13,179,100 shares purchased under our share repurchase program during the last six months of 2021. The capital reduction by cancellation of shares was subject to publication requirements and a two-month waiting period in accordance with Swiss law and became effective on August 4, 2022. During the three months ended March 31, 2023, 2,010,400 shares were repurchased and 1,574,224 net shares were issued under employee share-based compensation plans. At March 31, 2023, 32,217,934 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations

The Board has authorized share repurchase programs as follows:

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

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

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


	Three Months Ended				April 1, 2023 through May 1, 2023
	March 31
(in millions of U.S. dollars, except share data)	2023		2022
Number of shares repurchased	2,010,400		4,869,900			215,400
Cost of shares repurchased	$	428	$	1,001		$	43
Repurchase authorization remaining at end of period	$	1,193	$	1,648		$	1,150

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


	Three Months Ended
	March 31
	2023		2022
(in millions of U.S. dollars)			As Adjusted
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(7,279)	$	2,256
Change in period, before reclassification from AOCI (before tax)	1,606		(4,788)
Amounts reclassified from AOCI (before tax)	180		136
Change in period, before tax	1,786		(4,652)
Income tax (expense) benefit	(166)		812
Balance – end of period, net of tax	(5,659)		(1,584)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(75)		(1,399)
Change in period, before tax	(151)		435
Income tax (expense) benefit	21		(33)
Balance – end of period, net of tax	(205)		(997)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(24)		(57)
Change in period, before and net of tax	(3)		23

Balance – end of period, net of tax	(27)		(34)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,966)		(2,114)
Change in period, before reclassification from AOCI (before tax)	(174)		—
Amounts reclassified from AOCI (before tax)	(3)		—
Change in period, before tax	(177)		67
Income tax benefit	7		4
Balance – end of period, net of tax	(3,136)		(2,043)
Fair value hedging instruments
Balance – beginning of period, net of tax	(66)		—
Change in period, before reclassification from AOCI (before tax)	(17)		—
Amounts reclassified from AOCI (before tax)	(16)		—
Change in period, before tax	(33)		—
Income tax benefit	7		—
Balance – end of period, net of tax	(92)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	225		240
Change in period, before tax	—		19
Income tax expense	(1)		(4)
Balance – end of period, net of tax	224		255
Accumulated other comprehensive income (loss)	$	(8,895)	$	(4,403)

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)	2023		2022
Fixed maturities available for sale	$	(180)	$	(136)		Net realized gains (losses)
Income tax benefit	18		22			Income tax expense
	$	(162)	$	(114)		Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	3	$	—		Interest expense
Income tax expense	(1)		—			Income tax expense
	$	2	$	—		Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	20	$	—		Net realized gains (losses)
Cross-currency swaps	(4)		—			Interest expense
Income tax expense	(3)		—			Income tax expense
	$	13	$	—		Net income
Total amounts reclassified from AOCI	$	(147)	$	(114)

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

Compensation and Employee Benefit Plans [Text Block]

Share-based compensation	3 Months Ended
Share-based compensation	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensationThe Chubb Limited 2016 Long-Term Incentive Plan, as amended and restated (the Amended 2016 LTIP), permits grants of both incentive and non-qualified stock options principally at an option price per share equal to the grant date fair value of Chubb's Common Shares. Stock options are generally granted with a 3-year vesting period and a 10-year term. Stock options typically vest in equal annual installments over the respective vesting period, which is also the requisite service period. On February 23, 2023, Chubb granted 1,540,002 stock options with a weighted-average grant date fair value of $51.32 each. The fair value of the options issued is estimated on the grant date using the Black-Scholes option pricing model.The Amended 2016 LTIP also permits grants of service-based restricted stock and restricted stock units as well as performance-based restricted stock awards. Chubb generally grants service-based restricted stock and restricted stock units with a 4-year vesting period, based on a graded vesting schedule. The performance-based restricted stock awards granted comprise target awards and premium awards that cliff vest at the end of a 3-year performance period based on both tangible book value (shareholders' equity less goodwill and intangible assets, net of tax) per share growth and P&C combined ratio compared to a defined group of peer companies. Premium awards are subject to an additional vesting provision based on total shareholder return compared to our peer group. The restricted stock is principally granted at market close price on the grant date. On February 23, 2023, Chubb granted 785,319 service-based restricted stock awards, 315,545 service-based restricted stock units, and 407,825 performance-based stock awards to employees and officers with a grant date fair value of $208.60 each. Each restricted stock unit represents our obligation to deliver to the holder one Common Share upon vesting.

Postretirement benefits

3 Months Ended

Mar. 31, 2023

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
	2023				2022				2023		2022
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	$	—	$	1	$	—	$	—
Non-service cost (benefit):
Interest cost	34		9		21		6		—		—
Expected return on plan assets	(56)		(12)		(71)		(11)		(1)		—
Amortization of net actuarial loss	—		—		—		—		—		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(22)		(3)		(50)		(5)		(1)		—
Net periodic benefit cost (benefit)	$	(22)	$	(1)	$	(50)	$	(4)	$	(1)	$	—

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended March 31	2023		2022		2023		2022
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		1		—		—
Total service cost	2		1		—		—
Non-service cost (benefit):
Losses and loss expenses	(2)		(5)		—		—
Administrative expenses	(23)		(50)		(1)		—
Total non-service cost (benefit)	(25)		(55)		(1)		—
Net periodic benefit cost (benefit)	$	(23)	$	(54)	$	(1)	$	—

Other Income and Expense

3 Months Ended

Mar. 31, 2023

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)	2023		2022
Equity in net income of partially-owned entities (1)	$	340	$	363
Gains (losses) from fair value changes in separate account assets (2)	(25)		(31)
Federal excise and capital taxes	(5)		(4)

Other	(14)		(16)
Total	$	296	$	312

(1) Equity in net income of partially-owned entities includes mark-to-market gains on private equities where we own more than three percent of $242 million and $255 million for the three months ended March 31, 2023 and 2022, respectively. This line item also includes net income of $14 million and $42 million attributable to our investments in Huatai for the three months ended March 31, 2023 and 2022, respectively.

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

Other income and expense includes equity in net income of partially-owned entities, which includes our share of net income or loss, both underlying operating income and mark-to-market movement, related to partially-owned investment companies (private equity) and partially-owned insurance companies. Also included in Other income and expense are gains (losses) from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP. The offsetting movement in the separate account liabilities is included in Policy benefits in the Consolidated statements of operations. Certain federal excise and capital taxes incurred as a result of capital management initiatives are included in Other income and expense as these are considered capital transactions and are excluded from underwriting results. Bad debt expense for uncollectible premiums is also included in Other income and expense.

Segment information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment information

Chubb operates through six business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. These segments distribute their products through various forms of brokers, agencies, and direct marketing programs. All business segments have established relationships with reinsurance intermediaries. Segment results for the three months ended March 31, 2023, include the results of Cigna's business in Asia, which are principally assigned to our Life Insurance segment and, to a lesser extent, our Overseas General Insurance segment according to the nature of the business written.

Management uses underwriting income (loss) as the basis for segment performance for its P&C operations. P&C underwriting income (loss) excludes the Life Insurance segment and is calculated 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, and income tax are reported within Corporate. Cigna integration expenses are one-time costs that are directly attributable to third-party consulting fees, employee-related retention costs, and other professional and legal fees related to the acquisition of Cigna's A&H and Life insurance companies in several Asian markets. These items are not allocated to the segment level as they are one-time in nature and are not related to the ongoing business activities of the segment. The Chief Executive Officer does not manage segment results or allocate resources to segments when considering these costs, and therefore are excluded from our definition of segment income (loss).

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

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

our underwriting operations, and therefore realized gains (losses) from these derivatives are reclassified to losses and loss expenses.

•Policy benefits include fair value changes on separate accounts that do not qualify for separate accounting under GAAP. These gains and losses have been reclassified from Other (income) expense. We view gains and losses from fair value changes in both separate account assets and liabilities as part of the results of our underwriting operations, and therefore these gains and losses are reclassified to policy benefits.

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

The following tables present the Statement of Operations by segment:


For the Three Months Ended 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


For the Three Months Ended March 31, 2022 (As Adjusted) (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	$	4,039	$	1,180	$	62	$	3,079	$	253	$	576	$	—	$	—	$	9,189
Net premiums earned	4,114		1,247		(29)		2,628		235		542		—		—		8,737
Losses and loss expenses	2,497		713		(92)		1,296		115		24		10		1		4,564
Policy benefits	—		—		—		93		—		311		—		(31)		373
Policy acquisition costs	573		260		12		679		62		133		—		—		1,719
Administrative expenses	265		69		(1)		269		9		84		83		—		778
Underwriting income (loss)	779		205		52		291		49		(10)		(93)		30		1,303
Net investment income (loss)	489		59		7		147		85		103		(5)		(63)		822
Other (income) expense	6		1		—		2		—		(30)		(259)		(32)		(312)
Amortization expense of purchased intangibles	—		2		7		14		—		2		46		—		71
Segment income	$	1,262	$	261	$	52	$	422	$	134	$	121	$	115	$	(1)	$	2,366
Net realized gains (losses)													22		1		23
Market risk benefits gains (losses)													49		—		49
Interest expense													132		—		132
Income tax expense													353		—		353
Net income (loss)													$	(299)	$	—	$	1,953

Underwriting assets are reviewed in total by management for purposes of decision-making. Other than Unpaid losses and loss expenses, Future policy benefits, Reinsurance recoverables, DAC, VOBA, 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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Earnings per share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings per share


	Three Months Ended
	March 31
	2023		2022
(in millions of U.S. dollars, except share and per share data)			As Adjusted
Numerator:
Net income	$	1,892	$	1,953
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	414,289,150		425,805,105
Denominator for diluted earnings per share:
Share-based compensation plans	3,639,042		3,985,729
Weighted-average shares outstanding and assumed conversions	417,928,192		429,790,834
Basic earnings per share	$	4.57	$	4.59
Diluted earnings per share	$	4.53	$	4.55
Potential anti-dilutive share conversions	1,731,523		681,032

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods. These securities consisted of stock options in which the underlying exercise prices were greater than the average market prices of our Common Shares. Refer to Note 12 to the Consolidated Financial Statements of our 2022 Form 10-K for additional information on stock options.

General and significant accounting policies (Policies)

3 Months Ended

Mar. 31, 2023

Basis of presentation

Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 18 for additional information.

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

The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2022 Form 10-K.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents

Restricted cash

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

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


	March 31		December 31
(in millions of U.S. dollars)	2023		2022
Cash	$	2,288	$	2,012
Restricted cash	94		115
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,382	$	2,127

Accounting guidance adopted

Accounting guidance adopted in 2023

Targeted Improvements to the Accounting for Long-Duration Contracts

Effective January 1, 2023, we adopted new guidance on the accounting for long-duration contracts (LDTI). The new accounting guidance requires more frequent updating of assumptions and a standardized discount rate for the future policy benefit liability, a requirement to use the fair value measurement model for policies with market risk benefits, simplified amortization of deferred acquisition costs, and enhanced disclosures.

With the exception of market risk benefits, we adopted this guidance on a modified retrospective basis. Under the modified retrospective basis, the liability for future policy benefits is updated to remove any amounts related to changes to the original discount rate at January 1, 2021 (the transition date) in AOCI and future cash flow assumptions are applied to contracts in force. The liability for future policy benefits prior to the transition date continues to use the original discount rate (interest accretion rate). The guidance for long-duration contracts applicable to market risk benefits, primarily assumed reinsurance programs involving minimum benefit guarantees under variable annuity contracts, was adopted on a retrospective transition approach. Under the retrospective transition approach, we calculated the fair value of market risk benefits which were previously accounted for under an insurance accounting model and recognized an adjustment to retained earnings as of January 1, 2021.

On January 1, 2021, we recognized a cumulative effect adjustment and increased beginning retained earnings by $52 million, and decreased AOCI by $1.8 billion. Results for the prior reporting periods in this report are presented in accordance with the new guidance. We also adopted the required disclosures in Note 6 Deferred acquisition costs, Note 9 Future policy benefits, Note 10 Policyholders’ account balances, Note 11 Market risk benefits, and Note 12 Separate accounts.

The impact of adoption of the new guidance on our historical financial statements is as follows:


	December 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment	As Adjusted
Consolidated balance sheet
Reinsurance recoverable on losses and loss expenses	$	18,901	(42)	$	18,859
Reinsurance recoverable on policy benefits	303		(1)	302
Deferred policy acquisition costs	5,788		243	6,031
Value of business acquired	3,596		106	3,702

Prepaid reinsurance premiums	3,140		(4)	3,136
Investments in partially-owned insurance companies	2,877		(370)	2,507

Unpaid losses and loss expenses	76,323		(576)	75,747
Unearned premiums	20,360		(647)	19,713

Future policy benefits	10,120		356	10,476
Market risk benefits	—		800	800
Insurance and reinsurance balances payable	7,795		(15)	7,780

Deferred tax liabilities	292		85	377
Retained Earnings	48,334		(29)	48,305
Accumulated other comprehensive income (loss)	(10,193)		8	(10,185)

Excluded from the table above is the reclassification of separate accounts assets, separate account liabilities, and Policyholders' account balances as separate line items on the consolidated balance sheets. Separate accounts assets were previously classified in Other assets, and separate account liabilities and Policyholders' account balances were previously classified in Accounts payable, accrued expenses, and other liabilities.


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of operations and comprehensive income
Net premiums written	$	9,199	$	(10)	$	9,189
Net premiums earned	8,746		(9)		8,737
Net realized gains (losses)	101		(78)		23
Market risk benefits gains (losses)	—		49		49
Losses and loss expenses	4,787		(223)		4,564
Policy benefits	145		228		373
Policy acquisition costs	1,737		(18)		1,719

Other (income) expense	(310)		(2)		(312)
Income tax expense	355		(2)		353
Net Income	1,974		(21)		1,953
Other comprehensive income
Change in current discount rate on future policy benefits	—		435		435
Change in instrument-specific credit risk on market risk benefits	—		23		23
Income tax benefit related to OCI items	812		(33)		779
Comprehensive income	(1,780)		404		(1,376)


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of cash flows













Net cash flows from operating activities	$	2,440	$	4	$	2,444





Net cash flows used for financing activities	(1,302)		(4)		(1,306)

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of future policy benefits:


	Life Insurance						Overseas General Insurance				Offsetting Equity Line Classification
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		A&H		Total
Future policy benefits
Balance – December 31, 2020(1)	$	391	$	2,578	$	2,270	$	72	$	754	$	6,065

Effect of change in current discount rate	63		1,189		299		17		19		1,587		AOCI
Balance – January 1, 2021	$	454	$	3,767	$	2,569	$	89	$	773	$	7,652

(1) Includes future policy benefits previously included within Unpaid losses on the pre-adoption consolidated balance sheets, primarily certain international A&H business, and excludes deferred profit liability and certain guaranteed minimum death benefits reclassified to Market risk benefits on the post adoption period balance sheets.

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of market risk benefits:


(in millions of U.S. dollars)			Offsetting Equity Line Classification
Market risk benefits
Balance – December 31, 2020	$	1,138
Cumulative effect of changes in instrument-specific credit risk between original contract issuance date and transition date (1)	84		AOCI
Other fair value adjustments	(59)		Retained Earnings
Balance – January 1, 2021	$	1,163

(1) Includes $77 million of instrument-specific credit risk allocated from retained earnings to AOCI.

Deferred policy acquisition costs and value of business acquired

Deferred policy acquisition costs (DAC)

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

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

The liability is adjusted for differences between actual and expected experience. With the exception of the expense assumption, we review our future cash flow assumptions at least annually to determine if the net premium ratio (NPR), the mechanism used to record the liability as premium is earned, used to calculate the liability should be changed at that time. We have elected to use expense assumptions that are locked in at contract inception and are not subsequently reviewed or updated. Each quarter, we update the cash flows expected over the entire life of each cohort for actual historical experience and projected future cash

flows. These updated cash flows are used to calculate the revised NPR, which is used to derive an updated FPBL as of the beginning of the current reporting period, discounted at the original contract issuance discount rate. This amount is then compared to the carrying amount of the liability as of that same date, but before the updating of cash flow assumptions, to determine the current period change in FPBL. This current period change in the liability is the liability remeasurement gain or loss and is recorded in Policy benefits in the Consolidated statements of operations. In subsequent periods, the revised NPR is used to measure the FPBL until future revisions become required.

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

Deferred profit liability

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

Market Risk Benefit

Market risk benefits

Chubb reinsures various death and living benefit guarantees associated with variable annuities issued primarily in the United States, which are referred to as market risk benefits. These reinsurance contracts provide both protection to the ceding entity from other-than-nominal capital market risk and expose us to other-than-nominal capital market risk.

Market risk benefits are measured at fair value using a valuation model based on current net exposures, market data, our experience, and other factors. Changes in fair value are recognized in Market risk benefits gains (losses) in the Consolidated statements of operations, except the change in fair value due to a change in the instrument-specific credit risk, which is recognized in other comprehensive income. Refer to Note 11 for additional information.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI https://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL122150809-237846

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair value measurements (Fair Value Measurement Policy) (Policies)	3 Months Ended
	Mar. 31, 2023
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.

General and significant accounting policies (Tables)

3 Months Ended

Jan. 01, 2021

Mar. 31, 2023

Schedule of Cash and Cash Equivalents [Table Text Block]

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


	March 31		December 31
(in millions of U.S. dollars)	2023		2022
Cash	$	2,288	$	2,012
Restricted cash	94		115
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,382	$	2,127

Accounting Standards Update and Change in Accounting Principle

The impact of adoption of the new guidance on our historical financial statements is as follows:


	December 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment	As Adjusted
Consolidated balance sheet
Reinsurance recoverable on losses and loss expenses	$	18,901	(42)	$	18,859
Reinsurance recoverable on policy benefits	303		(1)	302
Deferred policy acquisition costs	5,788		243	6,031
Value of business acquired	3,596		106	3,702

Prepaid reinsurance premiums	3,140		(4)	3,136
Investments in partially-owned insurance companies	2,877		(370)	2,507

Unpaid losses and loss expenses	76,323		(576)	75,747
Unearned premiums	20,360		(647)	19,713

Future policy benefits	10,120		356	10,476
Market risk benefits	—		800	800
Insurance and reinsurance balances payable	7,795		(15)	7,780

Deferred tax liabilities	292		85	377
Retained Earnings	48,334		(29)	48,305
Accumulated other comprehensive income (loss)	(10,193)		8	(10,185)

Excluded from the table above is the reclassification of separate accounts assets, separate account liabilities, and Policyholders' account balances as separate line items on the consolidated balance sheets. Separate accounts assets were previously classified in Other assets, and separate account liabilities and Policyholders' account balances were previously classified in Accounts payable, accrued expenses, and other liabilities.


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of operations and comprehensive income
Net premiums written	$	9,199	$	(10)	$	9,189
Net premiums earned	8,746		(9)		8,737
Net realized gains (losses)	101		(78)		23
Market risk benefits gains (losses)	—		49		49
Losses and loss expenses	4,787		(223)		4,564
Policy benefits	145		228		373
Policy acquisition costs	1,737		(18)		1,719

Other (income) expense	(310)		(2)		(312)
Income tax expense	355		(2)		353
Net Income	1,974		(21)		1,953
Other comprehensive income
Change in current discount rate on future policy benefits	—		435		435
Change in instrument-specific credit risk on market risk benefits	—		23		23
Income tax benefit related to OCI items	812		(33)		779
Comprehensive income	(1,780)		404		(1,376)


	Three Months Ended
	March 31, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statement of cash flows













Net cash flows from operating activities	$	2,440	$	4	$	2,444





Net cash flows used for financing activities	(1,302)		(4)		(1,306)

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of future policy benefits:


	Life Insurance						Overseas General Insurance				Offsetting Equity Line Classification
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		A&H		Total
Future policy benefits
Balance – December 31, 2020(1)	$	391	$	2,578	$	2,270	$	72	$	754	$	6,065

Effect of change in current discount rate	63		1,189		299		17		19		1,587		AOCI
Balance – January 1, 2021	$	454	$	3,767	$	2,569	$	89	$	773	$	7,652

(1) Includes future policy benefits previously included within Unpaid losses on the pre-adoption consolidated balance sheets, primarily certain international A&H business, and excludes deferred profit liability and certain guaranteed minimum death benefits reclassified to Market risk benefits on the post adoption period balance sheets.

The following table presents a reconciliation of the pre-adoption December 31, 2020, to the post adoption January 1, 2021, balance of market risk benefits:


(in millions of U.S. dollars)			Offsetting Equity Line Classification
Market risk benefits
Balance – December 31, 2020	$	1,138
Cumulative effect of changes in instrument-specific credit risk between original contract issuance date and transition date (1)	84		AOCI
Other fair value adjustments	(59)		Retained Earnings
Balance – January 1, 2021	$	1,163

(1) Includes $77 million of instrument-specific credit risk allocated from retained earnings to AOCI.

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes Chubb's best estimate of fair value of the assets acquired and liabilities assumed at July 1, 2022. These estimates remain preliminary and are subject to adjustment. While they are not expected to be materially different than those shown, any material adjustments to the estimates will be reflected, retroactively, as of the date of the acquisition as a measurement period adjustment.


Preliminary estimate of assets acquired and liabilities assumed from Cigna's business in Asia	July 1
(in millions of U.S. dollars)	2022
Assets
Investments and Cash	$	5,274
Accrued investment income	33
Insurance and reinsurance balances receivable	52
Reinsurance recoverable on losses and loss expenses	3
Reinsurance recoverable on future policy benefits	85
Value of business acquired	3,633
Goodwill and intangible assets	1,486
Other assets	648
Total assets	$	11,214
Liabilities
Unpaid losses and loss expenses	$	12
Unearned premiums	60
Future policy benefits	3,856
Insurance and reinsurance balances payable	115
Accounts payable, accrued expenses, and other liabilities	926
Deferred tax liabilities	886
Total liabilities	$	5,855

Net acquired assets, including goodwill	5,359
Total	$	11,214

Business Acquisition, Pro Forma Information

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


	Three Months Ended
Pro forma:	March 31
(in millions of U.S. dollars)	2022
Net premiums earned	$	9,512
Total revenues	$	10,417
Net income	$	2,059

Investments (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

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


March 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	$	2,798	$	—	$	8	$	(127)	$	2,679
Non-U.S.	28,860		(60)		263		(1,671)		27,392
Corporate and asset-backed securities	41,316		(106)		104		(2,854)		38,460
Mortgage-backed securities	17,863		(2)		11		(1,770)		16,102
Municipal	3,872		—		12		(153)		3,731
	$	94,709	$	(168)	$	398	$	(6,575)	$	88,364


December 31, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,792	$	—	$	5	$	(171)	$	2,626
Non-U.S.	28,064		(59)		108		(2,205)		25,908
Corporate and asset-backed securities	40,547		(107)		49		(3,534)		36,955
Mortgage-backed securities	17,871		(3)		4		(2,021)		15,851
Municipal	4,081		—		8		(209)		3,880
	$	93,355	$	(169)	$	174	$	(8,140)	$	85,220

Schedule Of Amortized Cost And Fair Value Of HTM Fixed Maturities


	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,371	$	—	$	1,371	$	4	$	(35)	$	1,340
Non-U.S.	1,110		(4)		1,106		—		(70)		1,036
Corporate and asset-backed securities	1,699		(28)		1,671		2		(97)		1,576
Mortgage-backed securities	1,373		(1)		1,372		—		(90)		1,282
Municipal	2,905		—		2,905		2		(32)		2,875
	$	8,458	$	(33)	$	8,425	$	8	$	(324)	$	8,109


	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,417	$	—	$	1,417	$	1	$	(48)	$	1,370
Non-U.S.	1,140		(4)		1,136		—		(82)		1,054
Corporate and asset-backed securities	1,733		(28)		1,705		1		(126)		1,580
Mortgage-backed securities	1,456		(1)		1,455		—		(104)		1,351
Municipal	3,136		(1)		3,135		1		(52)		3,084
	$	8,882	$	(34)	$	8,848	$	3	$	(412)	$	8,439

Debt Securities, Held-to-maturity, Credit Quality Indicator

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


	March 31, 2023				December 31, 2022
(in millions of U.S. dollars, except for percentages)	Amortized cost		% of Total		Amortized cost		% of Total
AAA	$	1,505	18	%	$	1,612	18	%
AA	4,760		56	%	5,023		57	%
A	1,594		19	%	1,634		18	%
BBB	579		7	%	593		7	%
BB	20		—	%	20		—	%

Total	$	8,458	100	%	$	8,882	100	%

Schedule Of Fixed Maturities By Contractual Maturity

The following table presents fixed maturities by contractual maturity:


	March 31, 2023				December 31, 2022
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available for sale
Due in 1 year or less	$	3,020	$	3,020	$	2,962	$	2,962
Due after 1 year through 5 years	26,248		26,248		24,791		24,791
Due after 5 years through 10 years	27,608		27,608		26,679		26,679
Due after 10 years	15,386		15,386		14,937		14,937
	72,262		72,262		69,369		69,369
Mortgage-backed securities	16,102		16,102		15,851		15,851
	$	88,364	$	88,364	$	85,220	$	85,220
Held to maturity
Due in 1 year or less	$	1,048	$	1,035	$	1,015	$	1,003
Due after 1 year through 5 years	3,409		3,313		3,658		3,531
Due after 5 years through 10 years	1,385		1,361		1,460		1,423
Due after 10 years	1,211		1,118		1,260		1,131
	7,053		6,827		7,393		7,088
Mortgage-backed securities	1,372		1,282		1,455		1,351
	$	8,425	$	8,109	$	8,848	$	8,439

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

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


	0 – 12 Months				Over 12 Months				Total
March 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	$	1,564	$	(39)	$	912	$	(88)	$	2,476	$	(127)
Non-U.S.	7,195		(243)		11,689		(1,004)		18,884		(1,247)
Corporate and asset-backed securities	13,577		(507)		15,222		(1,356)		28,799		(1,863)
Mortgage-backed securities	4,769		(205)		10,427		(1,528)		15,196		(1,733)
Municipal	2,172		(30)		735		(123)		2,907		(153)
Total AFS fixed maturities	$	29,277	$	(1,024)	$	38,985	$	(4,099)	$	68,262	$	(5,123)


	0 – 12 Months				Over 12 Months				Total
December 31, 2022	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. Treasury / Agency	$	2,152	$	(125)	$	386	$	(46)	$	2,538	$	(171)
Non-U.S.	15,538		(1,012)		5,490		(704)		21,028		(1,716)
Corporate and asset-backed securities	25,687		(1,793)		4,190		(552)		29,877		(2,345)
Mortgage-backed securities	10,561		(1,033)		4,770		(941)		15,331		(1,974)
Municipal	3,251		(152)		155		(48)		3,406		(200)
Total AFS fixed maturities	$	57,189	$	(4,115)	$	14,991	$	(2,291)	$	72,180	$	(6,406)

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)	2023		2022
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	169	$	14

Provision for expected credit loss	59		17

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

Recovery of expected credit loss	(58)		(4)
Valuation allowance for expected credit losses - end of period	$	168	$	27
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	35




Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	33	$	34

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)	2023		2022
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	169	$	14

Provision for expected credit loss	59		17

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

Recovery of expected credit loss	(58)		(4)
Valuation allowance for expected credit losses - end of period	$	168	$	27
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	35




Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	33	$	34

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)	2023		2022
Fixed maturities:



Gross realized gains	$	2	$	39
Gross realized losses	(159)		(127)
Net (provision for) recovery of expected credit losses	2		(12)
Impairment (1)	(25)		(36)
Total fixed maturities	(180)		(136)
Equity securities	11		56

Other investments	15		55
Foreign exchange	131		74
Investment and embedded derivative instruments	(46)		47
Other derivative instruments	(1)		1
Other	(7)		(74)
Net realized gains (losses) (pre-tax)	$	(77)	$	23

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


							Three Months Ended
							March 31
	2023						2022
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	11	$	15	$	26	$	56	$	55	$	111
Less: Net gains (losses) recognized from sales of securities	(5)		—		(5)		255		—		255
Unrealized gains (losses) recognized for securities still held at reporting date	$	16	$	15	$	31	$	(199)	$	55	$	(144)

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


	Expected Liquidation Period of Underlying Assets	March 31, 2023				December 31, 2022
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,146	$	472	$	1,074	$	505
Real assets	2 to 13 Years	2,114		640		2,166		681
Distressed	2 to 8 Years	1,096		659		1,048		755
Private credit	3 to 8 Years	216		322		215		429
Traditional	2 to 14 Years	7,800		4,654		7,424		5,025
Vintage	1 to 2 Years	56		—		55		—
Investment funds	Not Applicable	377		—		373		—
		$	12,805	$	6,747	$	12,355	$	7,395

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)	2023		2022
Trust funds	$	8,263	$	8,120
Deposits with U.S. regulatory authorities	2,350		2,345
Deposits with non-U.S. regulatory authorities	3,094		2,959
Assets pledged under repurchase agreements	1,503		1,527
Other pledged assets	905		885
Total	$	16,115	$	15,836

Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	2,119	$	560	$	—	$	2,679
Non-U.S.	—		26,831		561		27,392
Corporate and asset-backed securities	—		35,916		2,544		38,460
Mortgage-backed securities	—		16,092		10		16,102
Municipal	—		3,731		—		3,731
	2,119		83,130		3,115		88,364
Equity securities	854		—		88		942
Short-term investments	1,856		1,830		7		3,693
Other investments (1)	559		423		—		982
Securities lending collateral	—		1,582		—		1,582
Investment derivatives	59		—		—		59
Derivatives designated as hedging instruments	—		8		—		8
Other derivative instruments	5		—		—		5
Separate account assets	5,198		102		—		5,300
Total assets measured at fair value (1)	$	10,650	$	87,075	$	3,210	$	100,935
Liabilities:
Investment derivatives	$	158	$	—	$	—	$	158
Derivatives designated as hedging instruments	—		82		—		82
Other derivative instruments	45		2		—		47
Market risk benefits (2)	—		—		830		830
Total liabilities measured at fair value	$	203	$	84	$	830	$	1,117

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,805 million, policy loans of $358 million, and other investments of $47 million at March 31, 2023, measured using NAV as a practical expedient.

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


December 31, 2022	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	2,100	$	526	$	—	$	2,626
Non-U.S.	—		25,344		564		25,908
Corporate and asset-backed securities	—		34,506		2,449		36,955
Mortgage-backed securities	—		15,840		11		15,851
Municipal	—		3,880		—		3,880
	2,100		80,096		3,024		85,220
Equity securities	737		—		90		827
Short-term investments	3,108		1,849		3		4,960
Other investments (1)	552		399		—		951
Securities lending collateral	—		1,523		—		1,523
Investment derivative instruments	82		—		—		82
Derivatives designated as hedging instruments	—		17		—		17
Other derivative instruments	33		—		—		33
Separate account assets	5,101		89		—		5,190
Total assets measured at fair value (1)	$	11,713	$	83,973	$	3,117	$	98,803
Liabilities:
Investment derivatives	$	139	$	—	$	—	$	139
Derivatives designated as hedging instruments	—		53		—		53
Market risk benefits (2)	—		—		800		800

Total liabilities measured at fair value	$	139	$	53	$	800	$	992

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,355 million, policy loans of $343 million and other investments of $47 million at December 31, 2022, measured using NAV as a practical expedient.

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

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3):


	Assets
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)


		Assets
Three Months Ended March 31, 2022 (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		$	633		$	2,049		$	26	$	77	$	7
Transfers into Level 3		18			29			—		1		—
Transfers out of Level 3		(23)			(50)			(5)		—		—
Change in Net Unrealized Gains/Losses in OCI		(13)			(22)			—		—		—

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

Purchases		43			315			—		3		2
Sales		(6)			(27)			—		(3)		—
Settlements		(32)			(65)			(1)		—		(5)

Balance, end of period		$	618		$	2,229		$	20	$	82	$	4
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	(2)		$	—		$	—	$	4	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(13)		$	(22)		$	—	$	—	$	—

Fair Value, Liabilities 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):


	Assets
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)


		Assets
Three Months Ended March 31, 2022 (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		$	633		$	2,049		$	26	$	77	$	7
Transfers into Level 3		18			29			—		1		—
Transfers out of Level 3		(23)			(50)			(5)		—		—
Change in Net Unrealized Gains/Losses in OCI		(13)			(22)			—		—		—

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

Purchases		43			315			—		3		2
Sales		(6)			(27)			—		(3)		—
Settlements		(32)			(65)			(1)		—		(5)

Balance, end of period		$	618		$	2,229		$	20	$	82	$	4
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	(2)		$	—		$	—	$	4	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(13)		$	(22)		$	—	$	—	$	—

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, 2023	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,267	$	73	$	—	$	1,340	$	1,371
Non-U.S.	—		1,036		—		1,036		1,106
Corporate and asset-backed securities	—		1,576		—		1,576		1,671
Mortgage-backed securities	—		1,282		—		1,282		1,372
Municipal	—		2,875		—		2,875		2,905
Total assets	$	1,267	$	6,842	$	—	$	8,109	$	8,425
Liabilities:
Repurchase agreements	$	—	$	1,420	$	—	$	1,420	$	1,420

Long-term debt	—		12,892		—		12,892		14,375
Trust preferred securities	—		368		—		368		308
Total liabilities	$	—	$	14,680	$	—	$	14,680	$	16,103


December 31, 2022	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,299	$	71	$	—	$	1,370	$	1,417
Non-U.S.	—		1,054		—		1,054		1,136
Corporate and asset-backed securities	—		1,580		—		1,580		1,705
Mortgage-backed securities	—		1,351		—		1,351		1,455
Municipal	—		3,084		—		3,084		3,135
Total assets	$	1,299	$	7,140	$	—	$	8,439	$	8,848
Liabilities:
Repurchase agreements	$	—	$	1,419	$	—	$	1,419	$	1,419
Short-term debt	—		473		—		473		475
Long-term debt	—		12,495		—		12,495		14,402
Trust preferred securities	—		383		—		383		308
Total liabilities	$	—	$	14,770	$	—	$	14,770	$	16,604

Reinsurance (Tables)

3 Months Ended

Mar. 31, 2023

Reinsurance Disclosures [Abstract]

schedule of reinsurance recoverable on ceded insurance


	March 31, 2023				December 31, 2022
(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	$	16,520	$	294	$	17,086	$	289
Reinsurance recoverable on paid losses and loss expenses	1,621		57		1,773		62
Reinsurance recoverable on losses and loss expenses	$	18,141	$	351	$	18,859	$	351
Reinsurance recoverable on policy benefits	$	279	$	1	$	302	$	4

(1)Net of valuation allowance for uncollectible reinsurance.

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

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Valuation allowance for uncollectible reinsurance - beginning of period	$	351	$	329
Provision for uncollectible reinsurance	5		3
Write-offs charged against the valuation allowance	(5)		(4)
Foreign exchange revaluation	—		1

Valuation allowance for uncollectible reinsurance - end of period	$	351	$	329

Deferred acquisition costs (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	320	$	776	$	395	$	902	$	121	$	2,514
Capitalizations	36		25		24		126		3		214
Amortization expense	(24)		(19)		(5)		(30)		(5)		(83)

Other (including foreign exchange)	5		1		(1)		(7)		—		(2)
Balance - end of period	$	337	$	783	$	413	$	991	$	119	$	2,643
Overseas General Insurance segment excluded from table											643
Total deferred acquisition costs on long-duration contracts											$	3,286


	Three Months ended March 31, 2022

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	246	$	771	$	334	$	745	$	108	$	2,204
Capitalizations	34		29		10		24		20		117
Amortization expense	(16)		(18)		(5)		(25)		(5)		(69)

Other (including foreign exchange)	5		(8)		(2)		—		(3)		(8)
Balance - end of period	$	269	$	774	$	337	$	744	$	120	$	2,244
Overseas General Insurance segment excluded from table											730
Total deferred acquisition costs on long-duration contracts											$	2,974

Goodwill, Other intangible assets, and Value of business acquired (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill roll-forward by business segment

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


(in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Chubb Consolidated
Balance at December 31, 2022	$	6,945	$	2,230	$	134	$	4,605	$	371	$	1,943	$	16,228

Foreign exchange revaluation and other	(9)		(3)		—		(3)		—		(38)		(53)
Balance at March 31, 2023	$	6,936	$	2,227	$	134	$	4,602	$	371	$	1,905	$	16,175

Schedule of Changes in VOBA

The following table presents a roll-forward of VOBA:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023
Balance, beginning of period	$	3,702

Amortization of VOBA (1)	(83)
Foreign exchange revaluation and other	(16)
Balance, end of period	$	3,603

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

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

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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

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

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Liability for Claims and Claims Adjustment Expense [Abstract]

Unpaid losses and loss expenses (Tables)

3 Months Ended

Mar. 31, 2023

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)	2023		2022
Gross unpaid losses and loss expenses – beginning of period	$	75,747	$	72,330
Reinsurance recoverable on unpaid losses – beginning of period (1)	(17,086)		(16,132)
Net unpaid losses and loss expenses – beginning of period	58,661		56,198


Net losses and loss expenses incurred in respect of losses occurring in:
Current year	5,336		4,963
Prior years (2)	(188)		(399)
Total	5,148		4,564
Net losses and loss expenses paid in respect of losses occurring in:
Current year	805		593
Prior years	3,911		3,569
Total	4,716		4,162
Foreign currency revaluation and other	(196)		3
Net unpaid losses and loss expenses – end of period	58,897		56,603
Reinsurance recoverable on unpaid losses (1)	16,520		16,593
Gross unpaid losses and loss expenses – end of period	$	75,417	$	73,196

(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 development on international A&H lines totaling $(8) million and $159 million for the three months ended March 31, 2023 and 2022, 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
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)
2022
North America Commercial P&C Insurance		$	(20)	$	(88)	$	(108)
North America Personal P&C Insurance		—		(51)		(51)
North America Agricultural Insurance		—		(26)		(26)
Overseas General Insurance		—		(60)		(60)
Global Reinsurance		—		(3)		(3)
Corporate		8		—		8
Total		$	(12)	$	(228)	$	(240)

Future policy benefits (Tables)

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

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, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	818	$	1,546	$	10,618	$	42	$	13,024
Beginning balance at original discount rate	879		1,600		11,163		43		13,685
Effect of changes in cash flow assumptions	17		(1)		(786)		1		(769)
Effect of actual variances from expected experience	(3)		(9)		(29)		—		(41)
Adjusted beginning of period balance	893		1,590		10,348		44		12,875
Issuances	36		50		312		1		399
Interest accrual	29		15		126		—		170
Net premiums collected (1)	(44)		(60)		(349)		(6)		(459)
Derecognition (lapses)	(2)		1		(54)		(1)		(56)
Other (including foreign exchange)	—		(1)		32		1		32
Ending balance at original discount rate	912		1,595		10,415		39		12,961
Effect of changes in discount rate assumptions	(62)		(40)		(206)		(3)		(311)
Balance – end of period	$	850	$	1,555	$	10,209	$	36	$	12,650

(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	$	1,429	$	4,781	$	15,457	$	253	$	21,920
Beginning balance at original discount rate	1,556		4,973		16,259		264		23,052
Effect of changes in cash flow assumptions	20		(1)		(798)		2		(777)
Effect of actual variances from expected experience	(1)		(7)		(26)		1		(33)
Adjusted beginning of period balance	1,575		4,965		15,435		267		22,242
Issuances	36		49		309		1		395
Interest accrual	32		48		160		2		242
Benefits payments	(46)		(59)		(368)		(3)		(476)
Derecognition (lapses)	(2)		1		(56)		(1)		(58)
Other (including foreign exchange)	(70)		(292)		448		(24)		62
Ending balance at original discount rate	1,525		4,712		15,928		242		22,407
Effect of changes in discount rate assumptions	(135)		(98)		(388)		(4)		(625)
Balance – end of period	$	1,390	$	4,614	$	15,540	$	238	$	21,782


	March 31, 2023
Liability for Future Policy Benefits	Life Insurance						Overseas General Insurance		Chubb Consolidated
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		A&H		Total
Net liability for future policy benefits	$	540	$	3,059	$	5,331	$	202	$	713	$	9,845
Deferred profit liability	209		555		160		13		—		937
Net liability for future policy benefits, per consolidated balance sheet	749		3,614		5,491		215		713		10,782
Less: Reinsurance recoverable on future policy benefits	143		30		82		—		24		279
Net liability for future policy benefits, after reinsurance recoverable	$	606	$	3,584	$	5,409	$	215	$	689	$	10,503
Weighted average duration (years)	8.0		21.2		10.3		14.5		5.0		13.5


Present Value of Expected Net Premiums	Three Months Ended March 31, 2022
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	422	$	1,341	$	2,520	$	30	$	4,313
Beginning balance at original discount rate	397		1,243		2,323		28		3,991
Effect of changes in cash flow assumptions	—		(2)		—		—		(2)
Effect of actuarial variances from expected experience	(9)		(8)		(37)		—		(54)
Adjusted beginning of period balance	388		1,233		2,286		28		3,935
Issuances	41		38		33		1		113
Interest accrual	25		11		37		—		73
Net premiums collected (1)	(27)		(41)		(64)		(3)		(135)


Other (including foreign exchange)	(2)		(6)		—		—		(8)
Ending balance at original discount rate	425		1,235		2,292		26		3,978
Effect of changes in discount rate assumptions	6		46		94		1		147
Balance – end of period	$	431	$	1,281	$	2,386	$	27	$	4,125

(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, 2022
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	921	$	4,785	$	4,939	$	130	$	10,775
Beginning balance at original discount rate	858		3,833		4,589		122		9,402
Effect of changes in cash flow assumptions	(5)		(2)		—		11		4
Effect of actuarial variances from expected experience	(9)		(7)		(38)		—		(54)
Adjusted beginning of period balance	844		3,824		4,551		133		9,352
Issuances	42		38		34		—		114
Interest accrual	27		37		51		1		116
Benefits payments	(21)		(46)		(83)		—		(150)


Other (including foreign exchange)	(9)		(27)		(6)		—		(42)
Ending balance at original discount rate	883		3,826		4,547		134		9,390
Effect of changes in discount rate assumptions	7		568		162		4		741
Balance – end of period	$	890	$	4,394	$	4,709	$	138	$	10,131


	March 31, 2022
Liability for Future Policy Benefits	Life Insurance						Overseas General Insurance		Chubb Consolidated
(in millions of U.S. dollars, except for years)	Term Life		Whole Life		A&H		Other		A&H		Total
Net liability for future policy benefits	$	459	$	3,113	$	2,323	$	111	$	772	$	6,778
Deferred profit liability	152		401		98		8		—		659
Net liability for future policy benefits, per consolidated balance sheet	611		3,514		2,421		119		772		7,437
Less: Reinsurance recoverable on future policy benefits	115		33		61		—		33		242
Net liability for future policy benefits, after reinsurance recoverable	$	496	$	3,481	$	2,360	$	119	$	739	$	7,195
Weighted average duration (years)	8.3		20.1		10.4		30.0		5.3		14.2

Undiscounted expected gross premiums and expected future policy benefit payments

The following table presents the amount of undiscounted 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)	2023		2022

Term Life
Undiscounted expected future benefit payments	$	2,352	$	1,309
Undiscounted expected future gross premiums	2,673		1,437
Discounted expected future benefit payments	1,390		890
Discounted expected future gross premiums	1,787		1,122
Whole Life
Undiscounted expected future benefit payments	14,656		9,870
Undiscounted expected future gross premiums	5,375		3,531
Discounted expected future benefit payments	4,614		4,394
Discounted expected future gross premiums	3,994		2,597
A&H
Undiscounted expected future benefit payments	21,563		6,027
Undiscounted expected future gross premiums	31,611		8,914
Discounted expected future benefit payments	15,540		4,709
Discounted expected future gross premiums	18,958		6,209
Other
Undiscounted expected future benefit payments	370		215
Undiscounted expected future gross premiums	97		74
Discounted expected future benefit payments	238		138
Discounted expected future gross premiums	$	87	$	65

Gross premiums and interest accretion recognized in statement of operations

The following table presents the amount of revenue and interest recognized in the statement of operations:


	Gross Premiums or Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2023		2022		2023		2022
Life Insurance
Term Life	$	170	$	49	$	3	$	2

Whole Life	162		74		33		26
A&H	795		290		34		14
Other	19		82		2		1
Overseas General Insurance
A&H	364		365		—		—
Total	$	1,510	$	860	$	72	$	43

Weighted-average interests

The following table presents the weighted-average interest rates:


	Interest Accretion Rate				Current Discount Rate
	Three Months Ended				Three Months Ended
	March 31				March 31
	2023		2022		2023		2022
Life Insurance
Term Life	2.9	%	2.4	%	6.5	%	3.6	%

Whole Life	4.4	%	4.4	%	6.1	%	4.6	%
A&H	4.2	%	3.9	%	6.7	%	4.0	%
Other	3.8	%	3.7	%	4.8	%	3.4	%

Policyholders' account balances (Tables)

3 Months Ended

Mar. 31, 2023

Policyholder Account Balance [Abstract]

Policyholder Account Balances

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


	Three Months Ended March 31, 2023
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance, beginning of period	$	1,719	$	1,421	$	3,140

Premiums received	85		25		110
Policy charges (1)	(45)		(3)		(48)
Surrenders and withdrawals	(16)		(15)		(31)
Benefit payments	(4)		(7)		(11)

Interest credited	11		5		16
Other (including foreign exchange)	(4)		6		2
Balance, end of period	$	1,746	$	1,432	$	3,178


	Three Months Ended March 31, 2022
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance, beginning of period	$	1,612	$	1,154	$	2,766

Premiums received	95		28		123
Policy charges (1)	(46)		(2)		(48)
Surrenders and withdrawals	(14)		(17)		(31)
Benefit payments	(2)		(5)		(7)

Interest credited	11		6		17
Other (including foreign exchange)	(6)		(46)		(52)
Balance, end of period	$	1,650	$	1,118	$	2,768

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



	March 31
	2023						2022
(in millions of U.S. dollars, except for percentages)	Universal Life			Other			Universal Life			Other
Weighted-average crediting rate	3.6		%	2.6		%	3.6		%	3.4		%
Net amount at risk (1)	$	9,934		$	1,450		$	10,259		$	518
Cash Surrender Value	$	937		$	1,137		$	869		$	865

(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

Universal Life


	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
0.00% – 2.00%	$	3	$	—	$	388	$	846	$	1,237
2.01% – 4.00%	453		56		—		—		509

Total	$	456	$	56	$	388	$	846	$	1,746


	March 31, 2022
(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
0.00% – 2.00%	$	4	$	—	$	420	$	743	$	1,167
2.01% – 4.00%	238		210		35		—		483

Total	$	242	$	210	$	455	$	743	$	1,650

Other policyholders' account balances


	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
0.00% – 2.00%	$	154	$	547	$	188	$	543	$	1,432


Total	$	154	$	547	$	188	$	543	$	1,432


	March 31, 2022
(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
0.00% – 2.00%	$	—	$	530	$	219	$	369	$	1,118


Total	$	—	$	530	$	219	$	369	$	1,118

Market risk benefits (Tables)

3 Months Ended

Mar. 31, 2023

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)	2023		2022
Balance – beginning of period	$	800	$	812
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	776		755



Interest rate changes	63		(140)
Effect of changes in equity markets	(75)		111
Effect of changes in volatilities	57		37



Effect of timing and all other	(18)		(32)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	803	$	731
Effect of changes in the instrument-specific credit risk	27		34
Balance – end of period	$	830	$	765
Weighted-average age of policyholders (years)	73		73
Net amount at risk	$	2,296	$	1,913

Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations

For MRB reinsurance, 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, 2023

March 31, 2022

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

1% – 30%

4.0

%

3% – 31%

4.4

%

Annuitization rate

0% – 100%

4.4

%

0% – 100%

3.7

%

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

Separate accounts (Tables)

3 Months Ended

Mar. 31, 2023

Separate Accounts Disclosure [Abstract]

Fair Value, Separate Account Investment

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


	March 31		December 31
(in millions of U.S. dollars)	2023		2022
Cash and cash equivalents	$	116	$	141

Mutual funds	5,082		4,960

Fixed maturities	102		89

Total	$	5,300	$	5,190

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)	2023		2022
Balance – beginning of period	$	5,190	$	5,560
Premiums and deposits	158		467
Policy charges	(15)		(31)
Surrenders and withdrawals	(6)		(124)
Benefit payments	(98)		(95)
Investment performance	83		(283)

Other (including foreign exchange)	(12)		66
Balance – end of period	$	5,300	$	5,560
Cash surrender value (1)	$	5,124	$	4,994

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

Commitments, contingencies, and guarantees (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

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

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


				March 31, 2023								December 31, 2022
	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)	$	33	$	(128)	$	4,387		$	64		$	(115)	$	4,134
Options/Futures contracts on notes and bonds	OA / (AP)	26		(30)		1,861			18			(24)		1,511
Convertible securities (1)	FM AFS / ES	30		—		37			30			—		37
		$	89	$	(158)	$	6,285		$	112		$	(139)	$	5,682
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	—	$	(45)	$	925		$	33		$	—	$	939
Other	OA / (AP)	5		(2)		457			—			—		—
		$	5	$	(47)	$	1,382		$	33		$	—	$	939
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	8	$	—	$	1,587		$	17		$	—	$	1,595
Cross-currency swaps - net investment hedges	OA / (AP)	—		(82)		1,579			—			(53)		1,604
		$	8	$	(82)	$	3,166		$	17		$	(53)	$	3,199

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

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

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


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(51)	$	(54)

All other futures contracts, options, and equities	5		102
Convertible securities (1)	—		(1)

Total investment and embedded derivative instruments	$	(46)	$	47
Other derivative instruments:
Futures contracts on equities (2)	(57)		42
Other	(1)		1
Total other derivative instruments	$	(58)	$	43
	$	(104)	$	90

(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, 2023		December 31, 2022
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	842	$	820
U.S. Treasury / Agency	78		72
Non-U.S.	626		604
Corporate and asset-backed securities	36		27




	$	1,582	$	1,523
Gross amount of recognized liability for securities lending payable	$	1,582	$	1,523

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, 2023						December 31, 2022
	Up to 30 Days		30-90 Days		Total		Up to 30 Days		30-90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	7	$	—	$	7	$	12	$	—	$	12
U.S. Treasury / Agency	—		102		102		—		101		101


Mortgage-backed securities	907		487		1,394		921		493		1,414
	$	914	$	589	$	1,503	$	933	$	594	$	1,527
Gross amount of recognized liabilities for repurchase agreements					$	1,420					$	1,419
Difference (1)					$	83					$	108

(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, 2023

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, 2023 through May 1, 2023
	March 31
(in millions of U.S. dollars, except share data)	2023		2022
Number of shares repurchased	2,010,400		4,869,900			215,400
Cost of shares repurchased	$	428	$	1,001		$	43
Repurchase authorization remaining at end of period	$	1,193	$	1,648		$	1,150

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Three Months Ended
	March 31
	2023		2022
(in millions of U.S. dollars)			As Adjusted
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(7,279)	$	2,256
Change in period, before reclassification from AOCI (before tax)	1,606		(4,788)
Amounts reclassified from AOCI (before tax)	180		136
Change in period, before tax	1,786		(4,652)
Income tax (expense) benefit	(166)		812
Balance – end of period, net of tax	(5,659)		(1,584)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(75)		(1,399)
Change in period, before tax	(151)		435
Income tax (expense) benefit	21		(33)
Balance – end of period, net of tax	(205)		(997)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(24)		(57)
Change in period, before and net of tax	(3)		23

Balance – end of period, net of tax	(27)		(34)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(2,966)		(2,114)
Change in period, before reclassification from AOCI (before tax)	(174)		—
Amounts reclassified from AOCI (before tax)	(3)		—
Change in period, before tax	(177)		67
Income tax benefit	7		4
Balance – end of period, net of tax	(3,136)		(2,043)
Fair value hedging instruments
Balance – beginning of period, net of tax	(66)		—
Change in period, before reclassification from AOCI (before tax)	(17)		—
Amounts reclassified from AOCI (before tax)	(16)		—
Change in period, before tax	(33)		—
Income tax benefit	7		—
Balance – end of period, net of tax	(92)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	225		240
Change in period, before tax	—		19
Income tax expense	(1)		(4)
Balance – end of period, net of tax	224		255
Accumulated other comprehensive income (loss)	$	(8,895)	$	(4,403)

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)	2023		2022
Fixed maturities available for sale	$	(180)	$	(136)		Net realized gains (losses)
Income tax benefit	18		22			Income tax expense
	$	(162)	$	(114)		Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	3	$	—		Interest expense
Income tax expense	(1)		—			Income tax expense
	$	2	$	—		Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	20	$	—		Net realized gains (losses)
Cross-currency swaps	(4)		—			Interest expense
Income tax expense	(3)		—			Income tax expense
	$	13	$	—		Net income
Total amounts reclassified from AOCI	$	(147)	$	(114)

Postretirement benefits (Tables)

3 Months Ended

Mar. 31, 2023

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
	2023				2022				2023		2022
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	$	—	$	1	$	—	$	—
Non-service cost (benefit):
Interest cost	34		9		21		6		—		—
Expected return on plan assets	(56)		(12)		(71)		(11)		(1)		—
Amortization of net actuarial loss	—		—		—		—		—		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(22)		(3)		(50)		(5)		(1)		—
Net periodic benefit cost (benefit)	$	(22)	$	(1)	$	(50)	$	(4)	$	(1)	$	—

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended March 31	2023		2022		2023		2022
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		1		—		—
Total service cost	2		1		—		—
Non-service cost (benefit):
Losses and loss expenses	(2)		(5)		—		—
Administrative expenses	(23)		(50)		(1)		—
Total non-service cost (benefit)	(25)		(55)		(1)		—
Net periodic benefit cost (benefit)	$	(23)	$	(54)	$	(1)	$	—

Other Income and Expense (Tables)

3 Months Ended

Mar. 31, 2023

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2023		2022
Equity in net income of partially-owned entities (1)	$	340	$	363
Gains (losses) from fair value changes in separate account assets (2)	(25)		(31)
Federal excise and capital taxes	(5)		(4)

Other	(14)		(16)
Total	$	296	$	312

(1) Equity in net income of partially-owned entities includes mark-to-market gains on private equities where we own more than three percent of $242 million and $255 million for the three months ended March 31, 2023 and 2022, respectively. This line item also includes net income of $14 million and $42 million attributable to our investments in Huatai for the three months ended March 31, 2023 and 2022, respectively.

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

Segment information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:


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


For the Three Months Ended March 31, 2022 (As Adjusted) (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	$	4,039	$	1,180	$	62	$	3,079	$	253	$	576	$	—	$	—	$	9,189
Net premiums earned	4,114		1,247		(29)		2,628		235		542		—		—		8,737
Losses and loss expenses	2,497		713		(92)		1,296		115		24		10		1		4,564
Policy benefits	—		—		—		93		—		311		—		(31)		373
Policy acquisition costs	573		260		12		679		62		133		—		—		1,719
Administrative expenses	265		69		(1)		269		9		84		83		—		778
Underwriting income (loss)	779		205		52		291		49		(10)		(93)		30		1,303
Net investment income (loss)	489		59		7		147		85		103		(5)		(63)		822
Other (income) expense	6		1		—		2		—		(30)		(259)		(32)		(312)
Amortization expense of purchased intangibles	—		2		7		14		—		2		46		—		71
Segment income	$	1,262	$	261	$	52	$	422	$	134	$	121	$	115	$	(1)	$	2,366
Net realized gains (losses)													22		1		23
Market risk benefits gains (losses)													49		—		49
Interest expense													132		—		132
Income tax expense													353		—		353
Net income (loss)													$	(299)	$	—	$	1,953

Earnings per share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended
	March 31
	2023		2022
(in millions of U.S. dollars, except share and per share data)			As Adjusted
Numerator:
Net income	$	1,892	$	1,953
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	414,289,150		425,805,105
Denominator for diluted earnings per share:
Share-based compensation plans	3,639,042		3,985,729
Weighted-average shares outstanding and assumed conversions	417,928,192		429,790,834
Basic earnings per share	$	4.57	$	4.59
Diluted earnings per share	$	4.53	$	4.55
Potential anti-dilutive share conversions	1,731,523		681,032

General and significant accounting policies (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Jan. 01, 2021
General and significant accounting policies [Line Items]
Retained earnings	$ 50,197	$ 48,305
Accumulated other comprehensive income (loss) (AOCI)	$ (8,895)	(10,185)
Effect of Modified Retrospective Application Accounting Standards Update 2018-12
General and significant accounting policies [Line Items]
Retained earnings		29	$ 52
Accumulated other comprehensive income (loss) (AOCI)		$ 8	$ 1,800

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

General and significant account policies (Cash and Cash Equivalents) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash	$ 2,288	$ 2,012
Restricted cash	94	115
Total cash and restricted cash shown in the Consolidated statement of cash flows	$ 2,382	$ 2,127	$ 1,914	$ 1,811

General and significant accounting policies (ASU 2018-12 Transition) (Details) - USD ($)
$ in Millions

3 Months Ended

Jan. 01, 2021

Mar. 31, 2023

Mar. 31, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Reinsurance recoverable on losses and loss expenses

^[1]

$ (18,141)

$ (18,859)

^[1]

(279)

(302)

6,296

6,031

(3,603)

(3,702)

(3,166)

(3,136)

(3,728)

(2,507)

(75,417)

$ (73,196)

(75,747)

$ (72,330)

(20,261)

(19,713)

$ 7,652

10,782

7,437

10,476

(7,778)

(7,780)

(541)

(377)

Accumulated other comprehensive income (loss) (AOCI)

(50,197)

(48,305)

(8,895)

(10,185)

(10,710)

(9,189)

(10,142)

(8,737)

77

(23)

(797)

(373)

(1,948)

(1,719)

Income Tax (Expense) Benefit

(296)

(312)

(384)

(353)

Comprehensive income (loss)

(1,892)

(1,953)

3,182

(1,376)

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

1

(5)

830

800

115

(49)

Increase (Decrease) in Deferred Income Taxes

^[2]

(340)

(363)

9

91

(14)

923

591

492

Accounts payable, accrued expenses, and other liabilities

136

21

(390)

(274)

Reinsurance recoverable

622

(444)

Increase (Decrease) in Deferred Policy Acquisition Costs

(254)

(116)

Increase (Decrease) in Other Operating Assets and Liabilities, Net

32

(79)

Other Comprehensive Income (Loss), Tax

(132)

779

Net Cash Provided by (Used in) Operating Activities

2,251

2,444

Net cash flows used for investing activities

(570)

(995)

Net Cash Provided by (Used in) Financing Activities

(1,424)

(1,306)

Current discount rate on future policy benefits

(5,148)

(4,564)

(151)

435

Instrument-specific credit risk on market risk benefits

(3)

23

Segment Life [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

(1,293)

(576)

(1,264)

(542)

(712)

(311)

(273)

(133)

(15)

(30)

Overseas General Insurance [Member]

(32)

(24)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

(3,263)

(3,079)

(2,786)

(2,628)

(110)

(93)

(713)

(679)

(9)

2

Term Life Insurance | Segment Life [Member]

(1,237)

(1,296)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

337

269

320

246

454

749

611

Whole Life Insurance | Segment Life [Member]

(24)

(16)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

413

337

395

334

3,767

3,614

3,514

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

(5)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

991

744

902

745

2,569

5,491

2,421

Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member]

(30)

(25)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Insurance, Other | Segment Life [Member]

773

713

772

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

119

120

121

$ 108

89

215

119

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ (5)

(5)

Variable Annuity

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

1,163

Previously Reported

Reinsurance recoverable on losses and loss expenses

(18,901)

(303)

5,788

(3,596)

(3,140)

(2,877)

(76,323)

(20,360)

10,120

$ 6,065

^[3]

(7,795)

(292)

Accumulated other comprehensive income (loss) (AOCI)

(48,334)

(10,193)

(9,199)

(8,746)

(101)

(145)

(1,737)

Income Tax (Expense) Benefit

(310)

(355)

Comprehensive income (loss)

(1,974)

(1,780)

0

Other Comprehensive Income (Loss), Tax

0

(812)

Net Cash Provided by (Used in) Operating Activities

2,440

Net Cash Provided by (Used in) Financing Activities

(1,302)

Current discount rate on future policy benefits

(4,787)

0

Instrument-specific credit risk on market risk benefits

0

Previously Reported | Term Life Insurance | Segment Life [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Previously Reported | Whole Life Insurance | Segment Life [Member]

^[3]

391

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

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

^[3]

2,578

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Previously Reported | Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member]

^[3]

2,270

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Previously Reported | Insurance, Other | Segment Life [Member]

^[3]

754

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Previously Reported | Variable Annuity

^[3]

72

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Effect of Modified Retrospective Application Accounting Standards Update 2018-12

$ 1,138

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Reinsurance recoverable on losses and loss expenses

(42)

(1)

243

(106)

(4)

(370)

(576)

(647)

356

(15)

(85)

Accumulated other comprehensive income (loss) (AOCI)

(52)

(29)

1,800

8

(10)

(9)

(78)

228

(18)

Income Tax (Expense) Benefit

(2)

(2)

Comprehensive income (loss)

(21)

404

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

1,587

$ 800

Other Comprehensive Income (Loss), Tax

49

33

Net Cash Provided by (Used in) Operating Activities

4

Net Cash Provided by (Used in) Financing Activities

(4)

Current discount rate on future policy benefits

(223)

435

Instrument-specific credit risk on market risk benefits

$ 23

AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax

77

Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Term Life Insurance | Segment Life [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

63

Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Whole Life Insurance | Segment Life [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

1,189

Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Accident and Health Insurance Product Line [Member] | Segment Life [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

299

Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

19

Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Insurance, Other | Segment Life [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

17

Effect of Modified Retrospective Application Accounting Standards Update 2018-12 | Guaranteed Minimum Death Benefit

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

OCI, Market Risk Benefit, Instrument-Specific Credit Risk, Gain (Loss), before Adjustments and Tax

^[4]

84

Accrued investment income

$ 59

[1]	Net of valuation allowance for uncollectible reinsurance.
[2]	Equity in net income of partially-owned entities includes mark-to-market gains on private equities where we own more than three percent of $242 million and $255 million for the three months ended March 31, 2023 and 2022, respectively. This line item also includes net income of $14 million and $42 million attributable to our investments in Huatai for the three months ended March 31, 2023 and 2022, respectively.
[3]	Includes future policy benefits previously included within Unpaid losses on the pre-adoption consolidated balance sheets, primarily certain international A&H business, and excludes deferred profit liability and certain guaranteed minimum death benefits reclassified to Market risk benefits on the post adoption period balance sheets.
[4]	Includes $77 million of instrument-specific credit risk allocated from retained earnings to AOCI.

Acquisitions (Investment holdings) (Details) - USD ($) $ in Millions			3 Months Ended		12 Months Ended
	Jan. 31, 2023	Jul. 01, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill			$ 16,175		$ 16,228
Other intangible assets			5,364		5,441
Value of business acquired (preliminary)			3,603		3,702
Repurchase agreements			1,420		1,419
Cigna integration expenses			22	$ 0
Huatai Group
Business Acquisition [Line Items]
Equity method investment, outstanding 22.0 percent agreed on	22.00%
Equity method investment, outstanding 3.0 percent requiring regulatory approval	3.00%
Equity Method Investment, Outstanding payment to be made			800
Equity method investment, additional 31.8 percent agreed on					$ 567
Cigna's Life Insurance Business in Asia-Pacific Markets [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Jul. 01, 2022
Payments to Acquire Businesses, Gross		$ 5,400
Goodwill		1,177
Other intangible assets		309
Value of business acquired (preliminary)		3,633
Repurchase agreements		$ 2,000
Cigna integration expenses			$ 22
Direct ownership \| Huatai Group
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage			64.20%		47.30%

Acquisitions (Schedule of recognized identifiable assets acquired and liabilities assumed) (Details) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

Jul. 01, 2022

Mar. 31, 2022

Dec. 31, 2021

Jan. 01, 2021

Business Acquisition [Line Items]

$ 953

$ 941

Insurance and reinsurance balances receivable

12,340

11,933

Reinsurance recoverable on losses and loss expenses

^[1]

18,141

18,859

^[1]

279

302

Other assets

6,490

7,546

Total assets

201,415

199,017

75,417

75,747

$ 73,196

$ 72,330

20,261

19,713

10,782

10,476

7,437

$ 7,652

Accounts payable, accrued expenses, and other liabilities

7,778

7,780

6,656

7,148

Net acquired assets, including goodwill

541

377

Total liabilities

148,428

148,498

52,987

50,519

$ 55,716

Total

$ 201,415

$ 199,017

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

Business Acquisition [Line Items]

Investments and Cash

$ 5,274

Accrued investment income

33

Insurance and reinsurance balances receivable

52

Reinsurance recoverable on losses and loss expenses

3

Goodwill and other intangible assets

85

1,486

Other assets

648

Total assets

11,214

12

60

3,856

Accounts payable, accrued expenses, and other liabilities

115

926

Net acquired assets, including goodwill

886

Total liabilities

5,855

5,359

Total

$ 11,214

[1]	Net of valuation allowance for uncollectible reinsurance.

Acquisitions (Pro forma) (Details) - USD ($) $ in Millions	3 Months Ended
Acquisitions (Pro forma) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Net premiums earned	$ 10,142	$ 8,737
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| Pro Forma
Business Acquisition [Line Items]
Net premiums earned		9,512
Total revenues		10,417
Net income		$ 2,059

Investments (Narrative) (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Investments [Line Items]
Restricted assets in fixed maturities and short-term investments	$ 16,021	$ 15,721
Restricted assets in cash	94	$ 115
Investments
Investments [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 646

Investments (Schedule Of Amortized Cost and Fair Value of Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 94,709	$ 93,355
Debt Securities, Available-for-sale, Allowance for Credit Loss	(168)	(169)	$ (27)	$ (14)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	398	174
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(6,575)	(8,140)
Available for sale, Fair Value	88,364	85,220
U.S. Treasury / Agency
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	2,798	2,792
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	8	5
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(127)	(171)
Available for sale, Fair Value	2,679	2,626
Non-U.S.
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	28,860	28,064
Debt Securities, Available-for-sale, Allowance for Credit Loss	(60)	(59)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	263	108
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,671)	(2,205)
Available for sale, Fair Value	27,392	25,908
Corporate and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	41,316	40,547
Debt Securities, Available-for-sale, Allowance for Credit Loss	(106)	(107)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	104	49
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,854)	(3,534)
Available for sale, Fair Value	38,460	36,955
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	17,863	17,871
Debt Securities, Available-for-sale, Allowance for Credit Loss	(2)	(3)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	11	4
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,770)	(2,021)
Available for sale, Fair Value	16,102	15,851
Municipal
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3,872	4,081
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	12	8
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(153)	(209)
Available for sale, Fair Value	$ 3,731	$ 3,880

Investments (Schedule Of Amortized Cost And Fair Value Of Held-to-Maturity Fixed Maturities) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity	$ 8,458	$ 8,882
Debt Securities, Held to maturity, Allowance for Credit Loss	33	34	$ 34	$ 35
Debt securities, held to maturity, net carrying value	8,425	8,848
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	8	3
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss	(324)	(412)
Held to maturity, Fair Value	8,109	8,439
U.S. Treasury / Agency
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity	1,371	1,417
Debt Securities, Held to maturity, Allowance for Credit Loss	0	0
Debt securities, held to maturity, net carrying value	1,371	1,417
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	4	1
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss	(35)	(48)
Held to maturity, Fair Value	1,340	1,370
Non-U.S.
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity	1,110	1,140
Debt Securities, Held to maturity, Allowance for Credit Loss	4	4
Debt securities, held to maturity, net carrying value	1,106	1,136
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0	0
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss	(70)	(82)
Held to maturity, Fair Value	1,036	1,054
Corporate and asset-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity	1,699	1,733
Debt Securities, Held to maturity, Allowance for Credit Loss	28	28
Debt securities, held to maturity, net carrying value	1,671	1,705
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	2	1
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss	(97)	(126)
Held to maturity, Fair Value	1,576	1,580
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity	1,373	1,456
Debt Securities, Held to maturity, Allowance for Credit Loss	1	1
Debt securities, held to maturity, net carrying value	1,372	1,455
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	0	0
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss	(90)	(104)
Held to maturity, Fair Value	1,282	1,351
Municipal
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity	2,905	3,136
Debt Securities, Held to maturity, Allowance for Credit Loss	0	1
Debt securities, held to maturity, net carrying value	2,905	3,135
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	2	1
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss	(32)	(52)
Held to maturity, Fair Value	$ 2,875	$ 3,084

Investments (Held-to-Maturity Credit Quality Indicator) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 8,458	$ 8,882
Fixed Maturities Percent of Total Amortized cost	100.00%	100.00%
Standard & Poor's, AAA Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 1,505	$ 1,612
Fixed Maturities Percent of Total Amortized cost	18.00%	18.00%
Standard & Poor's, AA Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 4,760	$ 5,023
Fixed Maturities Percent of Total Amortized cost	56.00%	57.00%
Standard & Poor's, A Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 1,594	$ 1,634
Fixed Maturities Percent of Total Amortized cost	19.00%	18.00%
Standard & Poor's, BBB Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 579	$ 593
Fixed Maturities Percent of Total Amortized cost	7.00%	7.00%
Standard & Poor's, BB Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 20	$ 20
Fixed Maturities Percent of Total Amortized cost	0.00%	0.00%

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Available for sale, Due in 1 year or less, Fair Value & Net Carrying Value	$ 3,020	$ 2,962
Available for sale, Due after 1 year through 5 years, Fair Value & Net Carrying Value	26,248	24,791
Available for sale, Due after 5 years through 10 years, Fair Value & Net Carrying Value	27,608	26,679
Available for sale, Due after 10 years, Fair Value & Net Carrying Value	15,386	14,937
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	72,262	69,369
Available for sale, Mortgage backed securities, Fair Value & Net Carrying Value	16,102	15,851
Available for sale, Fair Value	88,364	85,220
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, within one year, net carrying value	1,048	1,015
Held to maturity, Due in 1 year or less, Fair Value	1,035	1,003
Held-to-maturity, after one through five years, net carrying value	3,409	3,658
Held to maturity, Due after 1 year through 5, Fair Value	3,313	3,531
Held-to-maturity, after 5 through 10 years, net carrying value	1,385	1,460
Held to maturity, Due after 5 years through 10 years, Fair Value	1,361	1,423
Held-to-maturity, after 10 years, net carrying value	1,211	1,260
Held to maturity, Due after 10 years, Fair Value	1,118	1,131
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, net carrying value	7,053	7,393
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value	6,827	7,088
Held-to-maturity, MBS, net carrying value	1,372	1,455
Held to maturity, Mortgage backed securities, Fair Value	1,282	1,351
Debt securities, held to maturity, net carrying value	8,425	8,848
Held to maturity, Fair Value	$ 8,109	$ 8,439

Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Details) - Fixed Maturities [Member] - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 29,277	$ 57,189
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,024)	(4,115)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	38,985	14,991
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(4,099)	(2,291)
Debt Securities, Available-for-sale, Unrealized Loss Position	68,262	72,180
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(5,123)	(6,406)
U.S. Treasury / Agency
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,564	2,152
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(39)	(125)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	912	386
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(88)	(46)
Debt Securities, Available-for-sale, Unrealized Loss Position	2,476	2,538
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(127)	(171)
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	7,195	15,538
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(243)	(1,012)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	11,689	5,490
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,004)	(704)
Debt Securities, Available-for-sale, Unrealized Loss Position	18,884	21,028
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,247)	(1,716)
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	13,577	25,687
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(507)	(1,793)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	15,222	4,190
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,356)	(552)
Debt Securities, Available-for-sale, Unrealized Loss Position	28,799	29,877
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,863)	(2,345)
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	4,769	10,561
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(205)	(1,033)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	10,427	4,770
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,528)	(941)
Debt Securities, Available-for-sale, Unrealized Loss Position	15,196	15,331
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,733)	(1,974)
Municipal
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	2,172	3,251
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(30)	(152)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	735	155
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(123)	(48)
Debt Securities, Available-for-sale, Unrealized Loss Position	2,907	3,406
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (153)	$ (200)

Investments (Rollforward of expected credit-losses, AFS) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available for sale, Allowance for Credit Loss	$ 168	$ 27	$ 169	$ 14
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	59	17
Debt Securities, Available-for-sale, Allowance for Credit Loss, Writeoff	(2)	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	$ (58)	$ (4)

Investments (Rollforward of expected credit losses HTM) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held to maturity, Allowance for Credit Loss	$ 33	$ 34	$ 34	$ 35
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Recovery	$ (1)	$ (1)

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, 2023

Mar. 31, 2022

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

$ 59

$ 17

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

(180)

(136)

Net realized gains (losses)

(77)

23

Foreign exchange

131

74

(104)

90

Fixed Maturities [Member]

(7)

(74)

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

2

39

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

(159)

(127)

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

2

(12)

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

^[1]

(25)

(36)

Equity Securities

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

11

56

Other Investments

Net realized gains (losses)

15

55

Investment and embedded derivative instruments

(1)

1

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

$ (46)

$ 47

[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, 2023	Mar. 31, 2022
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	$ (77)	$ 23
Equity Securities
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	11	56
Less: Net gains (losses) recognized from sales of securities	(5)	255
Unrealized Gain (Loss) on Investments	16	(199)
Other Investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	15	55
Less: Net gains (losses) recognized from sales of securities	0	0
Unrealized Gain (Loss) on Investments	15	55
Equity securities and other investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	26	111
Less: Net gains (losses) recognized from sales of securities	(5)	255
Unrealized Gain (Loss) on Investments	$ 31	$ (144)

Investments Entities that Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	$ 6,747		$ 7,395
Alternative Investment	12,805		12,355
Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	472		505
Alternative Investment	1,146		1,074
Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	640		681
Alternative Investment	2,114		2,166
Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	659		755
Alternative Investment	1,096		1,048
Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	322		429
Alternative Investment	216		215
Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	4,654		5,025
Alternative Investment	7,800		7,424
Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	0		0
Alternative Investment	56		55
Investment Funds Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	0		0
Alternative Investment	$ 377		$ 373
Minimum \| Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	3 years	3 years
Minimum \| Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years
Minimum \| Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	1 year	1 year
Maximum \| Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	10 years	10 years
Maximum \| Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	13 years	13 years
Maximum \| Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	8 years	8 years
Maximum \| Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	8 years	8 years
Maximum \| Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	14 years	14 years
Maximum \| Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years

Investments (Schedule Of Components Of Restricted Assets) (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Investments [Line Items]
Total restricted assets	$ 16,115	$ 15,836
Asset Pledged as Collateral without Right
Investments [Line Items]
Trust funds	8,263	8,120
Deposits with U.S. regulatory authorities	2,350	2,345
Deposits with non-U.S. regulatory authorities	3,094	2,959
Assets pledged under repurchase agreements	1,503	1,527
Other pledged assets	$ 905	$ 885

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

Mar. 31, 2023

Dec. 31, 2022

$ 88,364

$ 85,220

942

827

3,693

4,960

14,192

13,696

1,582

1,523

5,300

5,190

Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value

830

800

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

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

12,805

12,355

Policy Loans

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

358

343

Other Investments

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

47

U.S. Treasury / Agency

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

2,679

2,626

Non-U.S.

Corporate and asset-backed securities

27,392

25,908

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

Mortgage-backed securities

38,460

36,955

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

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

16,102

15,851

Municipal

Level 1 | Fair Value, Recurring

3,731

3,880

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

2,119

2,100

854

737

1,856

3,108

559

^[1]

552

0

59

82

0

5

33

5,198

5,101

10,650

^[1]

11,713

158

139

0

45

0

^[2]

0

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

203

139

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

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

2,119

2,100

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]

83,130

80,096

0

1,830

1,849

423

^[1]

399

1,582

1,523

0

8

17

0

102

89

87,075

^[1]

83,973

0

82

53

2

0

^[2]

0

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

84

53

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

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

560

526

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

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

26,831

25,344

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

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

35,916

34,506

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

Level 2 | Municipal | Fair Value, Recurring

16,092

15,840

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

Level 3 | Fair Value, Recurring

3,731

3,880

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

3,115

3,024

88

90

7

3

0

^[1]

0

0

0

0

0

0

3,210

^[1]

3,117

0

0

0

830

^[2]

800

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

830

800

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

561

564

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

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

2,544

2,449

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

Level 3 | Municipal | Fair Value, Recurring

10

11

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]

88,364

85,220

942

827

3,693

4,960

982

^[1]

951

1,582

1,523

59

82

8

17

5

33

5,300

5,190

100,935

^[1]

98,803

158

139

82

53

47

830

^[2]

800

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

1,117

992

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

2,679

2,626

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

27,392

25,908

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

38,460

36,955

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

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

16,102

15,851

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

Reinsurance recoverable on unpaid losses and loss expenses

$ 3,731

$ 3,880

[1]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $12,805 million, policy loans of $358 million, and other investments of $47 million at March 31, 2023, measured using NAV as a practical expedient.
[2]	Refer to Note 11 for additional information on Market risk benefits.

Fair value measurements (Assets and Liabilities, Measured At Fair Value Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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	$ 90	$ 77
Transfers Into Level 3, Asset		1
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	(4)	4
Purchases, Assets	7	3
Sales, Assets	(5)	(3)
Settlements, Assets	0	0
Balance-End of Period, Assets	88	82
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	(3)	4
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	7
Transfers Into Level 3, Asset		0
Transfers out of Level 3, Assets	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	(1)	0
Net Realized Gains/ (Losses), Assets	0	0
Purchases, Assets	5	2
Sales, Assets	0	0
Settlements, Assets	0	(5)
Balance-End of Period, Assets	7	4
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	(1)	0
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	564	633
Transfers Into Level 3, Asset		18
Transfers out of Level 3, Assets	0	(23)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	(4)	(13)
Net Realized Gains/ (Losses), Assets	0	(2)
Purchases, Assets	43	43
Sales, Assets	(31)	(6)
Settlements, Assets	(11)	(32)
Balance-End of Period, Assets	561	618
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	(2)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	(6)	(13)
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	2,449	2,049
Transfers Into Level 3, Asset		29
Transfers out of Level 3, Assets	(11)	(50)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	(2)	(22)
Net Realized Gains/ (Losses), Assets	2	0
Purchases, Assets	205	315
Sales, Assets	(20)	(27)
Settlements, Assets	(79)	(65)
Balance-End of Period, Assets	2,544	2,229
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	4	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	(5)	(22)
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	11	26
Transfers Into Level 3, Asset		0
Transfers out of Level 3, Assets	0	(5)
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	(1)	(1)
Balance-End of Period, Assets	10	20
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, 2023	Dec. 31, 2022
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	$ 8,109	$ 8,439
Debt Securities, Held-to-maturity	8,458	8,882
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,420	1,419
Short-term debt	0	475
Long-term debt	14,375	14,402
Total liabilities	148,428	148,498
Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,267	1,299
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-Term Debt, Fair Value		0
Long-term Debt, Fair Value	0	0
Trust preferred securities	0	0
Total liabilities	0	0
Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	6,842	7,140
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,420	1,419
Short-Term Debt, Fair Value		473
Long-term Debt, Fair Value	12,892	12,495
Trust preferred securities	368	383
Total liabilities	14,680	14,770
Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-Term Debt, Fair Value		0
Long-term Debt, Fair Value	0	0
Trust preferred securities	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]
Fixed maturities, held-to-maturity, fair value	8,109	8,439
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,420	1,419
Short-Term Debt, Fair Value		473
Long-term Debt, Fair Value	12,892	12,495
Trust preferred securities	368	383
Total liabilities	14,680	14,770
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	8,425	8,848
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,420	1,419
Short-term debt		475
Long-term debt	14,375	14,402
Trust preferred securities	308	308
Total liabilities	16,103	16,604
U.S. Treasury / Agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,340	1,370
Debt Securities, Held-to-maturity	1,371	1,417
U.S. Treasury / Agency \| Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,267	1,299
U.S. Treasury / Agency \| Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	73	71
U.S. Treasury / Agency \| Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
U.S. Treasury / Agency \| Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,340	1,370
U.S. Treasury / Agency \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,371	1,417
Non-U.S.
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,036	1,054
Debt Securities, Held-to-maturity	1,110	1,140
Non-U.S. \| Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Non-U.S. \| Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,036	1,054
Non-U.S. \| Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Non-U.S. \| Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,036	1,054
Non-U.S. \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,106	1,136
Corporate and asset-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,576	1,580
Debt Securities, Held-to-maturity	1,699	1,733
Corporate and asset-backed securities \| Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Corporate and asset-backed securities \| Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,576	1,580
Corporate and asset-backed securities \| Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Corporate and asset-backed securities \| Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,576	1,580
Corporate and asset-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,671	1,705
Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,282	1,351
Debt Securities, Held-to-maturity	1,373	1,456
Mortgage-backed securities \| Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Mortgage-backed securities \| Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,282	1,351
Mortgage-backed securities \| Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Mortgage-backed securities \| Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	1,282	1,351
Mortgage-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,372	1,455
Municipal
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	2,875	3,084
Debt Securities, Held-to-maturity	2,905	3,136
Municipal \| Portion at Other than Fair Value Measurement \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Municipal \| Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	2,875	3,084
Municipal \| Portion at Other than Fair Value Measurement \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	0	0
Municipal \| Portion at Other than Fair Value Measurement \| Total Level 1, Level 2, and Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	2,875	3,084
Municipal \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	$ 2,905	$ 3,135

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

Mar. 31, 2023

Dec. 31, 2022

Mar. 31, 2022

Dec. 31, 2021

Reinsurance Disclosures [Abstract]

^[1]

$ 16,520

$ 17,086

$ 16,593

$ 16,132

Reinsurance recoverable on paid losses and loss expenses

^[1]

1,621

1,773

Reinsurance recoverable on losses and loss expenses

^[1]

18,141

18,859

Reinsurance Recoverables on Unpaid Losses, Allowance

^[1]

279

302

294

289

Reinsurance Recoverables on Paid Losses, Allowance

57

62

Reinsurance Recoverable, Allowance for Credit Loss, Total

351

$ 329

Reinsurance Recoverables on Future Policy Benefits, Allowance

$ 1

$ 4

[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, 2023	Mar. 31, 2022
Reinsurance Disclosures [Abstract]
Valuation allowance for uncollectible reinsurance - beginning of period	$ 351	$ 329
Provision for uncollectible reinsurance	5	3
Write-offs charged against the valuation allowance	(5)	(4)
Foreign exchange revaluation	0	1
Valuation allowance for uncollectible reinsurance - end of period	$ 351	$ 329

Deferred acquisition costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	$ 6,296
Balance – beginning of period	6,031
Amortization expense	(1,948)	$ (1,719)
Balance - end of period	6,296
Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(273)	(133)
Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(713)	(679)
Term Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	337	269
Balance – beginning of period	320	246
Capitalizations	36	34
Amortization expense	(24)	(16)
Other (including foreign exchange)	5	5
Balance - end of period	337	269
Universal Life \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	783	774
Balance – beginning of period	776	771
Capitalizations	25	29
Amortization expense	(19)	(18)
Other (including foreign exchange)	1	(8)
Balance - end of period	783	774
Whole Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	413	337
Balance – beginning of period	395	334
Capitalizations	24	10
Amortization expense	(5)	(5)
Other (including foreign exchange)	(1)	(2)
Balance - end of period	413	337
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	991	744
Balance – beginning of period	902	745
Capitalizations	126	24
Amortization expense	(30)	(25)
Other (including foreign exchange)	(7)	0
Balance - end of period	991	744
Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	119	120
Balance – beginning of period	121	108
Capitalizations	3	20
Amortization expense	(5)	(5)
Other (including foreign exchange)	0	(3)
Balance - end of period	119	120
Short-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	3,010	2,808
Balance - end of period	3,010	2,808
Long-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	3,286	2,974
Balance - end of period	3,286	2,974
Long-Duration Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	2,643	2,244
Balance – beginning of period	2,514	2,204
Capitalizations	214	117
Amortization expense	(83)	(69)
Other (including foreign exchange)	(2)	(8)
Balance - end of period	2,643	2,244
Long-Duration Insurance, Other \| Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	643	730
Balance - end of period	$ 643	$ 730

Goodwill, Other intangible assets, and Value of business acquired (Narrative) (Details)
$ in Millions

3 Months Ended

Mar. 31, 2023

USD ($)

Present Value of Future Insurance Profits [Line Items]

Amortization of VOBA (1)

$ 83

^[1]

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

Present Value of Future Insurance Profits [Line Items]

Amortization of VOBA (1)

$ 78

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

Goodwill, Other intangible assets, and Value of business acquired (Roll-forward of Goodwill by Business Segment) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 16,228
Foreign exchange revaluation and other	(53)
Balance at end of period	16,175
North America Commercial P&C Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	6,945
Foreign exchange revaluation and other	(9)
Balance at end of period	6,936
North America Personal P&C Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	2,230
Foreign exchange revaluation and other	(3)
Balance at end of period	2,227
North America Agricultural Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	134
Foreign exchange revaluation and other	0
Balance at end of period	134
Overseas General Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	4,605
Foreign exchange revaluation and other	(3)
Balance at end of period	4,602
Global Reinsurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	371
Foreign exchange revaluation and other	0
Balance at end of period	371
Segment Life [Member]
Goodwill [Roll Forward]
Balance at beginning of period	1,943
Foreign exchange revaluation and other	(38)
Balance at end of period	$ 1,905

Balance, beginning of period

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill, Other intangible assets, and Value of business acquired (Other Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Other intangible assets	$ 5,364	$ 5,441

Goodwill, Other intangible assets, and Value of business acquired (VOBA) (Details)
$ in Millions

3 Months Ended

Mar. 31, 2023

USD ($)

VOBA Roll Forward

$ 3,702

Amortization of VOBA (1)

83

^[1]

Foreign exchange revaluation and other

(16)

Balance, end of period

$ 3,603

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

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

3 Months Ended

12 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Dec. 31, 2022

Unpaid Losses and Loss Expenses [Roll Forward]

Gross unpaid losses and loss expenses – beginning of period

$ 75,747

$ 72,330

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

^[1]

(17,086)

(16,132)

Net unpaid losses and loss expenses – beginning of period

58,661

56,198

Current Year Claims and Claims Adjustment Expense

5,336

4,963

Prior Year Claims and Claims Adjustment Expense

^[2]

(188)

(399)

Total, Incurred

5,148

4,564

Net loss and loss expenses paid, Current Year

805

593

Net loss and loss expenses paid, Prior Years

3,911

3,569

Total, Paid

4,716

4,162

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

(196)

3

Net unpaid losses and loss expenses – end of period

58,897

56,603

58,661

Reinsurance recoverable on unpaid losses (1)

^[1]

16,520

16,593

17,086

Gross unpaid losses and loss expenses – end of period

75,417

73,196

$ 75,747

prior period development, net adjustments

(8)

$ 159

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

(330)

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

$ 236

[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 development on international A&H lines totaling $(8) million and $159 million for the three months ended March 31, 2023 and 2022, respectively.

Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (196)	$ (240)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(72)	(108)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	17	(51)
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(26)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(143)	(60)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(8)	(3)
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	10	8
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(215)	(228)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(81)	(88)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	17	(51)
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(26)
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(143)	(60)
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(8)	(3)
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	19	(12)
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	(20)
Long Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Long Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	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	$ 10	$ 8

Unpaid losses and loss expenses Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (196)	$ (240)
Unpaid losses and loss expenses	75,417	73,196	$ 75,747	$ 72,330
Net loss and loss expenses paid, Prior Years	3,911	3,569
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	19	(12)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(215)	(228)
Boy Scouts of America Agreement in Principle [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Unpaid losses and loss expenses	300		800
Net loss and loss expenses paid, Prior Years	200		$ 300
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(72)	(108)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9	(20)
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(81)	(88)
North America Commercial P&C Insurance [Member] \| Accident and Health Insurance Product Line [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(76)
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		60
North America Agricultural Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(26)
North America Agricultural Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
North America Agricultural Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	(26)
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	10	8
Corporate Segment [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	10	8
Corporate Segment [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(143)	(60)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(143)	(60)
Overseas General Insurance [Member] \| Property, Liability and Casualty Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(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)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	17	(51)
North America Personal P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
North America Personal P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	17	(51)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(8)	(3)
Global Reinsurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0
Global Reinsurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (8)	$ (3)

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Dec. 31, 2022

Dec. 31, 2021

Jan. 01, 2021

Liability for Future Policy Benefit, Activity [Line Items]

$ 13,024

$ 4,313

$ 13,685

$ 3,991

Effect of actual variances from expected experience

(769)

(2)

(41)

(54)

12,875

3,935

399

113

170

73

^[1]

(459)

(135)

(56)

(32)

(8)

12,961

3,978

(311)

147

12,650

4,125

21,920

10,775

23,052

9,402

Effect of actual variances from expected experience

(777)

4

(33)

(54)

22,242

9,352

395

114

242

116

(476)

(150)

(58)

62

42

22,407

9,390

(625)

741

21,782

10,131

9,845

6,778

Net liability for future policy benefits, per consolidated balance sheet

937

659

10,782

7,437

10,476

$ 7,652

Less: Reinsurance recoverable on future policy benefits

279

242

Net liability for future policy benefits, after reinsurance recoverable

$ 10,503

$ 7,195

Term Life Insurance | Segment Life [Member]

13 years 6 months

14 years 2 months 12 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 818

$ 422

879

397

Effect of actual variances from expected experience

17

0

(3)

(9)

893

388

36

41

29

25

^[1]

(44)

(27)

(2)

0

(2)

912

425

(62)

6

850

431

1,429

921

1,556

858

Effect of actual variances from expected experience

20

(5)

(1)

(9)

1,575

844

36

42

32

27

(46)

(21)

(2)

(70)

9

1,525

883

(135)

7

1,390

890

540

459

Net liability for future policy benefits, per consolidated balance sheet

209

152

749

611

454

Less: Reinsurance recoverable on future policy benefits

143

115

Net liability for future policy benefits, after reinsurance recoverable

$ 606

$ 496

Whole Life Insurance | Segment Life [Member]

8 years

8 years 3 months 18 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 1,546

$ 1,341

1,600

1,243

Effect of actual variances from expected experience

(1)

(2)

(9)

(8)

1,590

1,233

50

38

15

11

^[1]

(60)

(41)

1

1

(6)

1,595

1,235

(40)

46

1,555

1,281

4,781

4,785

4,973

3,833

Effect of actual variances from expected experience

(1)

(2)

(7)

4,965

3,824

49

38

48

37

(59)

(46)

1

(292)

27

4,712

3,826

(98)

568

4,614

4,394

3,059

3,113

Net liability for future policy benefits, per consolidated balance sheet

555

401

3,614

3,514

3,767

Less: Reinsurance recoverable on future policy benefits

30

33

Net liability for future policy benefits, after reinsurance recoverable

$ 3,584

$ 3,481

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

21 years 2 months 12 days

20 years 1 month 6 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 10,618

$ 2,520

11,163

2,323

Effect of actual variances from expected experience

(786)

0

(29)

(37)

10,348

2,286

312

33

126

37

^[1]

(349)

(64)

(54)

(32)

0

10,415

2,292

(206)

94

10,209

2,386

15,457

4,939

16,259

4,589

Effect of actual variances from expected experience

(798)

0

(26)

(38)

15,435

4,551

309

34

160

51

(368)

(83)

(56)

448

6

15,928

4,547

(388)

162

15,540

4,709

5,331

2,323

Net liability for future policy benefits, per consolidated balance sheet

160

98

5,491

2,421

2,569

Less: Reinsurance recoverable on future policy benefits

82

61

Net liability for future policy benefits, after reinsurance recoverable

$ 5,409

$ 2,360

Accident and Health Insurance Product Line [Member] | Overseas General Insurance [Member]

10 years 3 months 18 days

10 years 4 months 24 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 713

$ 772

Net liability for future policy benefits, per consolidated balance sheet

0

713

772

773

Less: Reinsurance recoverable on future policy benefits

24

33

Net liability for future policy benefits, after reinsurance recoverable

$ 689

$ 739

Insurance, Other | Segment Life [Member]

5 years

5 years 3 months 18 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 42

$ 30

43

28

Effect of actual variances from expected experience

1

0

0

44

28

1

0

^[1]

(6)

(3)

(1)

(1)

0

39

26

(3)

1

36

27

253

130

264

122

Effect of actual variances from expected experience

2

11

$ 1

$ 0

267

133

1

0

2

1

(3)

0

(1)

(24)

0

242

134

(4)

4

238

138

202

111

Net liability for future policy benefits, per consolidated balance sheet

13

8

215

119

$ 89

Less: Reinsurance recoverable on future policy benefits

0

Net liability for future policy benefits, after reinsurance recoverable

$ 215

$ 119

Policyholder Account Balance [Line Items]

14 years 6 months

30 years

[1]	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) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Discounted expected future benefit payments	$ 21,782	$ 21,920	$ 10,131	$ 10,775
Term Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	2,352		1,309
Undiscounted expected future gross premiums	2,673		1,437
Discounted expected future benefit payments	1,390	1,429	890	921
Discounted expected future gross premiums	1,787		1,122
Whole Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	14,656		9,870
Undiscounted expected future gross premiums	5,375		3,531
Discounted expected future benefit payments	4,614	4,781	4,394	4,785
Discounted expected future gross premiums	3,994		2,597
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	21,563		6,027
Undiscounted expected future gross premiums	31,611		8,914
Discounted expected future benefit payments	15,540	15,457	4,709	4,939
Discounted expected future gross premiums	18,958		6,209
Insurance, Other \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	370		215
Undiscounted expected future gross premiums	97		74
Discounted expected future benefit payments	238	$ 253	138	$ 130
Discounted expected future gross premiums	$ 87		$ 65

Future policy benefits (Premiums & interest) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	$ 1,510	$ 860
Interest Accretion	72	43
Term Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	170	49
Interest Accretion	3	2
Whole Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	162	74
Interest Accretion	33	26
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	795	290
Interest Accretion	34	14
Accident and Health Insurance Product Line [Member] \| Overseas General Insurance [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	364	365
Interest Accretion	0	0
Insurance, Other \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	19	82
Interest Accretion	$ 2	$ 1

Future policy benefits (Weighted average interest rates) (Details) - Segment Life [Member]	Mar. 31, 2023	Mar. 31, 2022
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	2.90%	2.40%
Current Discount Rate	6.50%	3.60%
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	4.40%	4.40%
Current Discount Rate	6.10%	4.60%
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	4.20%	3.90%
Current Discount Rate	6.70%	4.00%
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.80%	3.70%
Current Discount Rate	4.80%	3.40%

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Policyholder Account Balance, Beginning Balance

$ 3,140

$ 2,766

Policyholder Account Balance, Premium Received

110

123

Policyholder Account Balance, Policy Charge

^[1]

(48)

Policyholder Account Balance, Surrender and Withdrawal

(31)

Policyholder Account Balance, Benefit Payment

(11)

(7)

Policyholder Account Balance, Interest Expense

16

17

Policyholder Account Balance, Increase (Decrease) from Other Change

2

52

Policyholder Account Balance, Ending Balance

3,178

2,768

Universal Life

Policyholder Account Balance [Line Items]

Policyholder Account Balance, Beginning Balance

1,719

1,612

Policyholder Account Balance, Premium Received

85

95

Policyholder Account Balance, Policy Charge

^[1]

(45)

(46)

Policyholder Account Balance, Surrender and Withdrawal

(16)

(14)

Policyholder Account Balance, Benefit Payment

(4)

(2)

Policyholder Account Balance, Interest Expense

11

Policyholder Account Balance, Increase (Decrease) from Other Change

(4)

6

Policyholder Account Balance, Ending Balance

$ 1,746

$ 1,650

Policyholder Account Balance, Weighted Average Crediting Rate

3.60%

Policyholder Account Balance, Net Amount at Risk

^[2]

$ 9,934

$ 10,259

Policyholder Account Balance, Cash Surrender Value

937

869

Insurance, Other

Policyholder Account Balance [Line Items]

Policyholder Account Balance, Beginning Balance

1,421

1,154

Policyholder Account Balance, Premium Received

25

28

Policyholder Account Balance, Policy Charge

^[1]

(3)

(2)

Policyholder Account Balance, Surrender and Withdrawal

(15)

(17)

Policyholder Account Balance, Benefit Payment

(7)

(5)

Policyholder Account Balance, Interest Expense

5

6

Policyholder Account Balance, Increase (Decrease) from Other Change

6

46

Policyholder Account Balance, Ending Balance

$ 1,432

$ 1,118

Policyholder Account Balance, Weighted Average Crediting Rate

2.60%

3.40%

Policyholder Account Balance, Net Amount at Risk

^[2]

$ 1,450

$ 518

Policyholder Account Balance, Cash Surrender Value

$ 1,137

$ 865

[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]	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.

Policyholders' account balances (Guaranteed Minimum Crediting Rates) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 3,178	$ 3,140	$ 2,768	$ 2,766
Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,746	1,719	1,650	1,612
Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	456		242
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	56		210
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	388		455
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	846		743
Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,432	$ 1,421	1,118	$ 1,154
Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	154		0
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	547		530
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	188		219
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	543		369
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	1,237		1,167
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	3		4
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	388		420
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	846		743
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	1,432		1,118
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	154		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 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	547		530
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	188		219
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	543		369
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	509		483
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	453		238
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	56		210
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	0		35
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
Minimum \| 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	0.00%
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%
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%

Market risk benefits (MRB Roll-Forward) (Details) - USD ($) $ in Millions		3 Months Ended
	Jan. 01, 2021	Mar. 31, 2023	Mar. 31, 2022
Market Risk Benefit [Line Items]
Market Risk Benefit, Liability, beginning of period		$ 800
Market Risk Benefit, Liability, end of period		830
Market risk benefits gains (losses)		(115)	$ 49
Variable Annuity
Market Risk Benefit [Line Items]
Market Risk Benefit, Liability, end of period	$ 1,163
Long-Duration Insurance, Other \| Variable Annuity
Market Risk Benefit [Line Items]
Market Risk Benefit, Liability, beginning of period		800	812
Balance, beginning of period, before effect of changes in the instrument-specific credit risk		776	755
Interest rate changes		63	(140)
Effect of changes in equity markets		(75)	111
Effect of changes in volatilities		57	37
Effect of timing and all other		(18)	(32)
Balance, end of period, before effect of changes in the instrument-specific credit risk		803	731
Effect of changes in the instrument-specific credit risk		27	34
Market Risk Benefit, Liability, end of period		$ 830	$ 765
Market risk benefit, weighted-average age of policyholders (age)		73 years	73 years
Market Risk Benefit, Net Amount at Risk		$ 2,296	$ 1,913
Market Risk Benefits Other Gains (Losses)		$ (89)	$ 26

Market Risk Benefits (MRB Valuation) (Details)	3 Months Ended
Market Risk Benefits (MRB Valuation) (Details)	Mar. 31, 2023	Mar. 31, 2022
Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate	1.00%	3.00%
Significant Unobservable Inputs Annuitization Rate	0.00%	0.00%
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate	30.00%	31.00%
Significant Unobservable Inputs Annuitization Rate	100.00%	100.00%
Weighted Average
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-Duration Contracts, Assumptions by Product and Guarantee, Lapse Rate	4.00%	4.40%
Significant Unobservable Inputs Annuitization Rate	4.40%	3.70%

Separate accounts (Fair Value of Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 5,300	$ 5,190
Separate Account, Cash and Cash Equivalents
Fair Value, Separate Account Investment [Line Items]
Separate account assets	116	141
Separate Account, equity securities and mutual funds
Fair Value, Separate Account Investment [Line Items]
Separate account assets	5,082	4,960
Separate Account, Non-U.S. Government Treasuries
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 102	$ 89

Separate accounts (Liabilities) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Separate Account, Liability, Surrender and Withdrawal [Abstract]

Separate Account, Liability, Beginning Balance

$ 5,190

$ 5,560

Separate Account, Liability, Premium and Deposit

158

467

Separate Account, Liability, Policy Charge

(15)

(31)

Separate Account, Liability, Surrender and Withdrawal

(6)

(124)

Separate Account, Liability, Benefit Payment

(98)

(95)

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

83

(283)

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

(12)

66

Separate Account, Liability, Ending Balance

5,300

5,560

Separate Account, Liability, Cash Surrender Value, Amount

^[1]

$ 5,124

$ 4,994

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

Commitments, Contingencies, And Guarantees (Narrative) (Detail) € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative liability subject to a master netting agreement	$ 214			$ 60
Hedged Liability, Fair Value Hedge	1,600		€ 1,500
Other comprehensive income (loss), before income tax	1,422	$ (4,108)
Interest expense	160	$ 132
Repurchase agreements	1,420			1,419
Purchase Commitment, Remaining Minimum Amount Committed	810			770
Carrying value of limited partnerships and partially-owned investment companies included in other investments	12,400			12,000
Funding commitments relating to limited partnerships and partially-owned investment companies	6,700			7,400
Unrecognized tax benefits	66
Operating Lease, Right-of-Use Asset	571			607
Operating Lease, Liability	$ 595			$ 633
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities		Other Liabilities	Other Liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets		Other assets	Other assets
Fair Value Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
OCI, before Reclassifications, Net of Tax, Attributable to Parent	$ (17)
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion	20
Other comprehensive income (loss), before income tax	(33)
Interest expense	4
Net Investment Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
OCI, before Reclassifications, Net of Tax, Attributable to Parent	(23)
Other comprehensive income (loss), before income tax	(26)
Interest Income, Other	$ (3)

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, 2023

Dec. 31, 2022

Foreign currency forward contracts

Options/Futures contracts on notes and bonds

$ 4,387

$ 4,134

1,861

1,511

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

37

89

112

(158)

(139)

Futures contracts on equities

6,285

5,682

Other Derivatives [Member]

^[2]

925

939

Other Derivative Instruments [Member]

457

0

Designated as Hedging Instrument

1,382

939

8

17

(82)

53

3,166

3,199

Fair Value Hedging

1,587

1,595

Net Investment Hedging

Other Assets [Member] | Foreign currency forward contracts

1,579

1,604

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

33

64

Other Assets [Member] | Futures contracts on equities

26

18

Other Assets [Member] | Other Derivatives [Member]

^[2]

0

33

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

5

0

Other Assets [Member] | Fair Value Hedging

5

33

Other Assets [Member] | Net Investment Hedging

8

17

Fixed Maturities [Member] | Convertible securities

0

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

^[1]

30

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

(128)

(115)

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

(30)

(24)

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

^[2]

(45)

0

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

(2)

0

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

(47)

0

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

0

Equity Securities | Convertible securities

(82)

(53)

Derivative Instruments, Gain (Loss) [Line Items]

^[1]

$ 0

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

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, 2023

Mar. 31, 2022

Foreign currency forward contracts

$ (104)

$ 90

Derivative Instruments, Gain (Loss) [Line Items]

All Other Futures Contracts, Options and equities [Member]

(51)

(54)

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

5

102

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

0

(1)

Derivative Instruments, Gain (Loss) [Line Items]

Futures contracts on equities

(46)

47

Derivative Instruments, Gain (Loss) [Line Items]

Other Derivatives [Member]

^[2]

(57)

42

Derivative Instruments, Gain (Loss) [Line Items]

Guaranteed Living Benefit And Other Derivative Instruments [Member]

(1)

1

Derivative Instruments, Gain (Loss) [Line Items]

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

$ (58)

$ 43

[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, 2023	Dec. 31, 2022
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 1,582	$ 1,523
Securities lending payable	1,582	1,523
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	842	820
U.S. Treasury / Agency \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	78	72
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	626	604
Corporate and asset-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 36	$ 27

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

Mar. 31, 2023

Dec. 31, 2022

Repurchase agreements

$ 1,420

$ 1,419

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

1,503

1,527

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

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

7

12

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

Mortgage-backed securities | Asset Pledged as Collateral without Right

102

101

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

Repurchase Agreements [Member]

1,394

1,414

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

Secured Borrowings, Gross, Difference, Amount

^[1]

83

108

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

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

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

914

933

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

7

12

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

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

0

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

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

907

921

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

589

594

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

0

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

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

102

101

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

$ 487

$ 493

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

Shareholders' equity (Details)			3 Months Ended
Shareholders' equity (Details)	Aug. 04, 2022 shares	Jan. 17, 2022 shares	Mar. 31, 2023 SFr / shares shares	Dec. 31, 2022 SFr / shares shares	May 20, 2021 $ / shares	May 20, 2020 $ / shares
Stockholders' Equity Note [Abstract]
Common Shares, par value \| SFr / shares			SFr 24.15	SFr 24.15
Treasury Stock, Shares, Retired	13,179,100	14,465,400
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures			1,574,224
Common Stock, Dividend Rate Approved \| $ / shares					$ 0.83	$ 0.80
Annual dividend per share approved by shareholders \| $ / shares					3.32	3.20
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividend Rate Approved \| $ / shares					$ 0.83	$ 0.80
Treasury Stock, Shares, Retired	13,179,100	14,465,400
Treasury Stock, Common, Shares			32,217,934	31,781,758

Shareholders' equity Dividends Declared (Details)	3 Months Ended
Shareholders' equity Dividends Declared (Details)	Mar. 31, 2023 $ / shares	Mar. 31, 2023 SFr / shares	Mar. 31, 2022 $ / shares	Mar. 31, 2022 SFr / shares
United States of America, Dollars
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| $ / shares	$ 0.83		$ 0.80
Switzerland, Francs
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| SFr / shares		SFr 0.77		SFr 0.74

Shareholders' equity Share Repurchases (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 01, 2023	Mar. 31, 2023	Mar. 31, 2022	May 19, 2022	Jul. 19, 2021
July 2021 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount					$ 5,000
Number of shares repurchased			4,869,900
Cost of shares repurchased			$ 1,001
Repurchase authorization remaining at end of period			$ 1,648
May 2022 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount				$ 2,500
Number of shares repurchased		2,010,400
Cost of shares repurchased		$ 428
Repurchase authorization remaining at end of period		$ 1,193
Subsequent Event [Member] \| May 2022 Stock Repurchase Plan
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased	215,400
Cost of shares repurchased	$ 43
Repurchase authorization remaining at end of period	$ 1,150

Shareholders' equity AOCI (Details) - USD ($) $ in Millions	3 Months Ended
Shareholders' equity AOCI (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	$ 50,519
Balance – end of period, net of tax	52,987	$ 55,716
Current discount rate on future policy benefits	(151)	435
OCI, Liability for Future Policy Benefit, Gain (Loss), after Reclassification Adjustment, Tax, Parent	21	(33)
AOCI, Liability for Future Policy Benefit, after Tax	(205)	(997)	$ (75)	$ (1,399)
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, after Tax	(27)	(34)	$ (24)	$ (57)
Instrument-specific credit risk on market risk benefits	(3)	23
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(7,279)	2,256
OCI, before Reclassifications, before Tax, Attributable to Parent	1,606	(4,788)
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	180	136
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	1,786	(4,652)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	(166)	812
Balance – end of period, net of tax	(5,659)	(1,584)
Cumulative Foreign Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(2,966)	(2,114)
OCI, before Reclassifications, before Tax, Attributable to Parent	(174)	0
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(3)	0
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(177)	67
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	7	4
Balance – end of period, net of tax	(3,136)	(2,043)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(66)	0
OCI, before Reclassifications, before Tax, Attributable to Parent	(17)	0
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(16)	0
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(33)	0
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	7	0
Balance – end of period, net of tax	(92)	0
Postretirement Benefit Liability Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	225	240
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	0	19
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	(1)	(4)
Balance – end of period, net of tax	224	255
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(10,185)	(1,074)
Balance – end of period, net of tax	$ (8,895)	$ (4,403)

Shareholders' equity AOCI Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Interest expense	$ 160	$ 132
Income Tax (Expense) Benefit	(384)	(353)
Net income (loss)	1,892	1,953
Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Net income (loss)	(147)	(114)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Debt Securities, Available-for-sale, Realized Gain	(180)	(136)
Income Tax (Expense) Benefit	18	22
Net income (loss)	(162)	(114)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Foreign Currency Transaction Gain (Loss), Realized	20	0
Interest expense	(4)	0
Income Tax (Expense) Benefit	(3)	0
Net income (loss)	13	0
Cumulative Foreign Currency Translation Adjustment [Member] \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Interest expense	3	0
Income Tax (Expense) Benefit	(1)	0
Net income (loss)	$ 2	$ 0

Share-Based Compensation (Detail) - $ / shares		3 Months Ended
Share-Based Compensation (Detail) - $ / shares	Feb. 23, 2023	Mar. 31, 2023
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		3 years
Award term period in years		10 years
Stock options granted	1,540,002
Weighted-average grant date fair value for stock options granted	$ 51.32
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		4 years
Restricted stock awards granted to employees and officers of the company	785,319
Grant date fair value of awards except for options granted to employees and officers of the company	$ 208.60
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Restricted stock awards granted to employees and officers of the company	407,825
Grant date fair value of awards except for options granted to employees and officers of the company	$ 208.60
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		4 years
Restricted stock awards granted to employees and officers of the company	315,545
Grant date fair value of awards except for options granted to employees and officers of the company	$ 208.60

Postretirement benefits Components of net periodic benefit costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 2	$ 1
Non-service (benefit) cost	(25)	(55)
Net periodic benefit cost (benefit)	(23)	(54)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Interest cost	0	0
Expected return on plan assets	(1)	0
Defined Benefit Plan, Amortization of Gain (Loss)	0	0
Amortization of prior service cost	0	0
Settlements	0	0
Non-service (benefit) cost	(1)	0
Net periodic benefit cost (benefit)	(1)	0
Losses and loss expenses \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Non-service (benefit) cost	(2)	(5)
Losses and loss expenses \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Non-service (benefit) cost	0	0
Administrative Expense \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	1
Non-service (benefit) cost	(23)	(50)
Administrative Expense \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Non-service (benefit) cost	(1)	0
Foreign Plan [Member] \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	1
Interest cost	9	6
Expected return on plan assets	(12)	(11)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0
Amortization of prior service cost	0	0
Settlements	0	0
Non-service (benefit) cost	(3)	(5)
Net periodic benefit cost (benefit)	(1)	(4)
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0
Interest cost	34	21
Expected return on plan assets	(56)	(71)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0
Amortization of prior service cost	0	0
Settlements	0	0
Non-service (benefit) cost	(22)	(50)
Net periodic benefit cost (benefit)	$ (22)	$ (50)

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

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

^[1]

$ 340

$ 363

^[2]

(25)

(31)

Federal excise and capital taxes

(5)

(4)

Partially-owned Investment Companies

(14)

(16)

Total

296

312

Unrealized Gain (Loss) on Investments

242

255

Huatai Group

$ 14

$ 42

[1]

Equity in net income of partially-owned entities includes mark-to-market gains on private equities where we own more than three percent of $242 million and $255 million for the three months ended March 31, 2023 and 2022, respectively. This line item also includes net income of $14 million and $42 million attributable to our investments in Huatai for the three months ended March 31, 2023 and 2022, respectively.

[2]

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

Segment information (Details) - USD ($) $ in Millions	3 Months Ended
Segment information (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Net premiums written	$ 10,710	$ 9,189
Net premiums earned	10,142	8,737
Losses and loss expenses	5,148	4,564
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	797	373
Policy acquisition costs	1,948	1,719
Administrative expenses	930	778
Underwriting income (loss)	1,319	1,303
Net investment income (loss)	1,107	822
Other (income) expense	(296)	(312)
Amortization of purchased intangibles	72	71
Segment Income (loss)	2,650	2,366
Net realized gains (losses)	(77)	23
Market risk benefits gains (losses)	(115)	49
Interest Income (Expense), Net	160	132
Cigna integration expenses	22	0
Income tax expense	384	353
Net income	1,892	1,953
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net premiums written	0	0
Net premiums earned	0	0
Losses and loss expenses	(1)	1
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	(25)	(31)
Policy acquisition costs	0	0
Administrative expenses	0	0
Underwriting income (loss)	26	30
Net investment income (loss)	(91)	(63)
Other (income) expense	(66)	(32)
Amortization of purchased intangibles	0	0
Segment Income (loss)	1	(1)
Net realized gains (losses)	(1)	1
Market risk benefits gains (losses)	0	0
Interest Income (Expense), Net	0	0
Cigna integration expenses	0
Income tax expense	0	0
Net income	0	0
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written		4,039
Net premiums earned		4,114
Losses and loss expenses		2,497
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))		0
Policy acquisition costs		573
Administrative expenses		265
Underwriting income (loss)		779
Net investment income (loss)		489
Other (income) expense		6
Amortization of purchased intangibles		0
Segment Income (loss)		1,262
North America Personal P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written		1,180
Net premiums earned		1,247
Losses and loss expenses		713
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))		0
Policy acquisition costs		260
Administrative expenses		69
Underwriting income (loss)		205
Net investment income (loss)		59
Other (income) expense		1
Amortization of purchased intangibles		2
Segment Income (loss)		261
North America Agricultural Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	293	62
Net premiums earned	159	(29)
Losses and loss expenses	140	(92)
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	0	0
Policy acquisition costs	15	12
Administrative expenses	3	(1)
Underwriting income (loss)	1	52
Net investment income (loss)	17	7
Other (income) expense	1	0
Amortization of purchased intangibles	6	7
Segment Income (loss)	11	52
Overseas General Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	3,263	3,079
Net premiums earned	2,786	2,628
Losses and loss expenses	1,237	1,296
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	110	93
Policy acquisition costs	713	679
Administrative expenses	280	269
Underwriting income (loss)	446	291
Net investment income (loss)	188	147
Other (income) expense	(9)	2
Amortization of purchased intangibles	18	14
Segment Income (loss)	625	422
Global Reinsurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	277	253
Net premiums earned	244	235
Losses and loss expenses	112	115
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	0	0
Policy acquisition costs	62	62
Administrative expenses	9	9
Underwriting income (loss)	61	49
Net investment income (loss)	49	85
Other (income) expense	(1)	0
Amortization of purchased intangibles	0	0
Segment Income (loss)	111	134
Life Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,293	576
Net premiums earned	1,264	542
Losses and loss expenses	32	24
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	712	311
Policy acquisition costs	273	133
Administrative expenses	167	84
Underwriting income (loss)	80	(10)
Net investment income (loss)	153	103
Other (income) expense	(15)	(30)
Amortization of purchased intangibles	4	2
Segment Income (loss)	244	121
Segment Corporate and Other
Segment Reporting Information [Line Items]
Net premiums written	0	0
Net premiums earned	0	0
Losses and loss expenses	11	10
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	0	0
Policy acquisition costs	0	0
Administrative expenses	97	83
Underwriting income (loss)	(108)	(93)
Net investment income (loss)	11	(5)
Other (income) expense	(214)	(259)
Amortization of purchased intangibles	42	46
Segment Income (loss)	75	115
Net realized gains (losses)	(76)	22
Market risk benefits gains (losses)	(115)	49
Interest Income (Expense), Net	160	132
Cigna integration expenses	22
Income tax expense	384	353
Net income	(682)	$ (299)
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	4,288
Net premiums earned	4,369
Losses and loss expenses	2,729
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	0
Policy acquisition costs	613
Administrative expenses	295
Underwriting income (loss)	732
Net investment income (loss)	698
Other (income) expense	7
Amortization of purchased intangibles	0
Segment Income (loss)	1,423
Segment Insurance North American Personal P&C
Segment Reporting Information [Line Items]
Net premiums written	1,296
Net premiums earned	1,320
Losses and loss expenses	888
Policy benefits (includes remeasurement gains (losses) of $1 and $(5))	0
Policy acquisition costs	272
Administrative expenses	79
Underwriting income (loss)	81
Net investment income (loss)	82
Other (income) expense	1
Amortization of purchased intangibles	2
Segment Income (loss)	$ 160

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 1,892	$ 1,953
Weighted-average shares outstanding	414,289,150	425,805,105
Share-based compensation plans	3,639,042	3,985,729
Weighted-average shares outstanding and assumed conversions	417,928,192	429,790,834
Basic earnings (loss) per share (US$ per share)	$ 4.57	$ 4.59
Diluted earnings (loss) per share (US$ per share)	$ 4.53	$ 4.55
Potential anti-dilutive share conversions	1,731,523	681,032

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599