Short-term investments, at fair value (amortized cost – $4,099 and $4,962)

1,043

827

4,097

4,960

14,707

13,696

Total investments

116,636

113,551

Cash

2,285

2,012

Restricted cash

90

115

Accrued investment income

1,525

1,523

983

941

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

14,128

11,933

Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $361 and $351

^[1]

18,398

18,859

^[1]

315

302

6,666

6,031

3,575

3,702

Goodwill

16,322

16,228

Other intangible assets

5,320

5,441

3,599

3,136

3,542

2,507

5,574

5,190

Other assets

6,490

7,546

Total assets

205,448

199,017

Liabilities

76,480

75,747

21,860

19,713

11,064

10,476

Policyholders' account balances

722

800

3,215

3,140

Separate account liabilities

5,574

5,190

Securities lending payable

8,429

7,780

1,525

1,523

Accounts payable, accrued expenses, and other liabilities

6,864

7,148

Trust preferred securities

533

377

Repurchase agreements

1,518

1,419

Short-term debt

699

475

Long-term debt

13,782

14,402

308

Total liabilities

152,573

148,498

Commitments and contingencies (refer to Note 13)

Shareholders’ equity

Common Shares (CHF 0.50 and 24.15 par value; 431,451,586 and 446,376,614 shares issued; 410,691,354 and 414,594,856 shares outstanding)

241

10,346

Common Shares in treasury (20,760,232 and 31,781,758 shares)

(3,174)

(5,113)

Additional paid-in capital

16,163

7,166

Accumulated other comprehensive income (loss) (AOCI)

49,467

48,305

(9,822)

(10,185)

Total shareholders’ equity

52,875

50,519

Total liabilities and shareholders’ equity

$ 205,448

$ 199,017

[1]	Net of valuation allowance for uncollectible reinsurance.

Consolidated Balance Sheets (Parentheticals) (Unaudited) $ in Millions	Jun. 30, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Statement of Financial Position [Abstract]
Fixed maturities, available-for-sale, valuation allowance	$ 193	$ 169
Fixed maturities, available-for-sale, at amortized cost	104,224	93,355
Fixed maturities, held-to-maturity, valuation allowance	0	34
Fixed maturities, held-to-maturity, fair value	0	8,439
Short-term investments amortized cost	4,099	4,962
Premium Receivable, Allowance for Credit Loss	52	52
Valuation allowance for uncollectible reinsurance	$ 361	$ 351
Common Shares, shares issued \| shares	431,451,586	446,376,614
Common Shares, shares outstanding \| shares	410,691,354	414,594,856
Treasury Stock, Common, Shares \| shares	20,760,232	31,781,758

Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues
Net premiums written	$ 11,951	$ 10,293	$ 22,661	$ 19,482
Increase in unearned premiums	(952)	(744)	(1,520)	(1,196)
Net premiums earned	10,999	9,549	21,141	18,286
Net investment income	1,145	888	2,252	1,710
Net realized gains (losses)	(304)	(503)	(381)	(480)
Market risk benefits gains (losses)	(7)	(33)	(122)	16
Total revenues	11,833	9,901	22,890	19,532
Expenses
Losses and loss expenses	5,683	5,206	10,831	9,770
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	830	361	1,627	734
Policy acquisition costs	2,016	1,726	3,964	3,445
Administrative expenses	969	818	1,899	1,596
Interest expense	165	134	325	266
Other (income) expense	(100)	101	(396)	(211)
Amortization of purchased intangibles	70	71	142	142
Cigna integration expenses	15	3	37	3
Total expenses	9,648	8,420	18,429	15,745
Income before income tax	2,185	1,481	4,461	3,787
Income tax expense	392	291	776	644
Net income	1,793	1,190	3,685	3,143
Other comprehensive income (loss):
Change in unrealized depreciation	(1,194)	(4,344)	592	(8,996)
Current discount rate on future policy benefits	(35)	632	(186)	1,067
Instrument-specific credit risk on market risk benefits	11	17	8	40
Cumulative foreign currency translation adjustment	215	(756)	38	(689)
Other, including postretirement benefit liability adjustment	48	5	15	24
Other comprehensive income (loss), before income tax	(955)	(4,446)	467	(8,554)
Income tax (expense) benefit related to OCI items	28	183	(104)	962
Other comprehensive income (loss)	(927)	(4,263)	363	(7,592)
Comprehensive income (loss)	$ 866	$ (3,073)	$ 4,048	$ (4,449)
Earnings per share
Basic earnings per share	$ 4.35	$ 2.82	$ 8.92	$ 7.42
Diluted earnings per share	$ 4.32	$ 2.80	$ 8.84	$ 7.35

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)
CB_Par value reduction		0		0
Treasury Stock, Retired, Cost Method, Amount		(319)	2,510		(2,191)
Common Shares repurchased			(2,130)
Net shares issued under employee share-based compensation plans			290	(195)
Exercise of stock options				(27)
Share-based compensation expense				139
Funding of dividends declared to Retained earnings				(688)
Net income (loss)	$ 3,143				3,143
Funding of dividends declared from Additional paid-in capital					688
Dividends declared on Common Shares					(688)
Other Comprehensive Income (Loss), Net of Tax	(7,592)					(7,592)
Balance – end of period, net of tax at Jun. 30, 2022	51,268	10,666	(6,794)	7,707	48,355	(8,666)
Balance – beginning of period, net of tax at Mar. 31, 2022		10,666	(5,700)	7,988	47,165	(4,403)
CB_Par value reduction		0		0
Treasury Stock, Retired, Cost Method, Amount		0	0		0
Common Shares repurchased			(1,129)
Net shares issued under employee share-based compensation plans			35	4
Exercise of stock options				(6)
Share-based compensation expense				69
Funding of dividends declared to Retained earnings				(348)
Net income (loss)	1,190				1,190
Funding of dividends declared from Additional paid-in capital					348
Dividends declared on Common Shares					(348)
Other Comprehensive Income (Loss), Net of Tax	(4,263)					(4,263)
Balance – end of period, net of tax at Jun. 30, 2022	51,268	10,666	(6,794)	7,707	48,355	(8,666)
Balance – beginning of period, net of tax at Dec. 31, 2022	50,519	10,346	(5,113)	7,166	48,305	(10,185)
CB_Par value reduction		(9,759)		9,759
Treasury Stock, Retired, Cost Method, Amount		(346)	2,869		(2,523)
Common Shares repurchased			(1,152)
Net shares issued under employee share-based compensation plans			222	(206)
Exercise of stock options				(13)
Share-based compensation expense				155
Funding of dividends declared to Retained earnings				(698)
Net income (loss)	3,685				3,685
Funding of dividends declared from Additional paid-in capital					698
Dividends declared on Common Shares					(698)
Other Comprehensive Income (Loss), Net of Tax	363					363
Balance – end of period, net of tax at Jun. 30, 2023	52,875	241	(3,174)	16,163	49,467	(9,822)
Balance – beginning of period, net of tax at Mar. 31, 2023		10,346	(5,341)	6,680	50,197	(8,895)
CB_Par value reduction		(9,759)		9,759
Treasury Stock, Retired, Cost Method, Amount		(346)	2,869		(2,523)
Common Shares repurchased			(724)
Net shares issued under employee share-based compensation plans			22	5
Exercise of stock options				0
Share-based compensation expense				73
Funding of dividends declared to Retained earnings				(354)
Net income (loss)	1,793				1,793
Funding of dividends declared from Additional paid-in capital					354
Dividends declared on Common Shares					(354)
Other Comprehensive Income (Loss), Net of Tax	(927)					(927)
Balance – end of period, net of tax at Jun. 30, 2023	$ 52,875	$ 241	$ (3,174)	$ 16,163	$ 49,467	$ (9,822)

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

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Cash flows from operating activities

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

$ 3,685

$ 3,143

381

480

Amortization of premiums/discounts on fixed maturities

122

(16)

(38)

148

Amortization of purchased intangibles

142

^[1]

(460)

(291)

Deferred income taxes

43

108

561

1,949

1,913

1,554

351

99

Accounts payable, accrued expenses, and other liabilities

588

670

(388)

67

Income taxes payable

(38)

(83)

Insurance and reinsurance balances receivable

(2,044)

(1,560)

Reinsurance recoverable

455

(642)

(546)

(232)

Net cash flows from operating activities

39

(370)

4,766

5,166

Cash flows from investing activities

Purchases of fixed maturities available for sale

(12,800)

(13,474)

Purchases of fixed maturities held to maturity

(208)

(380)

Purchases of equity securities

(240)

(664)

Sales of fixed maturities available for sale

7,229

8,053

Sales of equity securities

81

2,445

Maturities and redemptions of fixed maturities available for sale

3,203

5,753

Maturities and redemptions of fixed maturities held to maturity

708

820

Net change in short-term investments

898

(340)

Net derivative instruments settlements

(63)

117

Private equity contribution

(1,046)

(1,287)

Private equity distribution

568

448

Payments to Acquire Businesses, Net of Cash Acquired

(23)

0

Payment, including deposit, for Huatai Group Interest

(229)

(113)

Net cash flows used for investing activities

(340)

(253)

(2,262)

1,125

Cash flows from financing activities

Dividends paid on Common Shares

(688)

(681)

Common Shares repurchased

(1,267)

(2,127)

Proceeds from issuance of repurchase agreements

3,774

3,002

Repayment of long-term debt

(475)

0

Repayment of repurchase agreements

(3,674)

(1,000)

Proceeds from share-based compensation plans

102

170

Policyholder contract deposits

170

188

Policyholder contract withdrawals

(101)

(144)

Payment, Tax Withholding, Share-based Payment Arrangement

(97)

(98)

Proceeds from (Payments for) Other Financing Activities

(56)

(35)

Net cash flows used for financing activities

(2,312)

(725)

Effect of foreign currency rate changes on cash and restricted cash

56

(138)

Net increase (decrease) in cash and restricted cash

248

5,428

Cash and restricted cash - beginning of period

2,127

1,811

Cash and restricted cash - end of period

2,375

7,239

Supplemental cash flow information

Taxes paid

753

612

Interest paid

$ 306

$ 290

[1]

Equity in net income (loss) of partially-owned entities includes mark-to-market gains (losses) on private equities where we own more than three percent of $(3) million and $239 million for the three and six months ended June 30, 2023, respectively, and $(134) million and $121 million, respectively, for the prior year periods. This line item also includes net income of $22 million and $36 million attributable to our investments in Huatai for the three and six months ended June 30, 2023, respectively, compared to $15 million and $55 million, respectively, for the prior year periods.

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Liability for Future Policy Benefit, Remeasurement Gain (Loss)	$ 5	$ 0	$ 4	$ 6

General and significant accounting policies

6 Months Ended

Jun. 30, 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:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Cash	$	2,285	$	2,012
Restricted cash	90		115
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,375	$	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						Six Months Ended
	June 30, 2022						June 30, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted		As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statements of operations and comprehensive income
Net premiums written	$	10,302	$	(9)	$	10,293	$	19,501	$	(19)	$	19,482
Net premiums earned	9,557		(8)		9,549		18,303		(17)		18,286
Net realized gains (losses)	(504)		1		(503)		(403)		(77)		(480)
Market risk benefits gains (losses)	—		(33)		(33)		—		16		16
Losses and loss expenses	5,408		(202)		5,206		10,195		(425)		9,770
Policy benefits	159		202		361		304		430		734
Policy acquisition costs	1,739		(13)		1,726		3,476		(31)		3,445

Other (income) expense	101		—		101		(209)		(2)		(211)
Income tax expense	293		(2)		291		648		(4)		644
Net Income	1,215		(25)		1,190		3,189		(46)		3,143
Other comprehensive income
Change in current discount rate on future policy benefits	—		632		632		—		1,067		1,067
Change in instrument-specific credit risk on market risk benefits	—		17		17		—		40		40
Income tax benefit related to OCI items	245		(62)		183		1,057		(95)		962
Comprehensive income	(3,656)		583		(3,073)		(5,436)		987		(4,449)


	Six Months Ended
	June 30,2022
(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	$	5,160	$	6	$	5,166





Net cash flows used for financing activities	(719)		(6)		(725)

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						Six Months Ended
	June 30, 2022						June 30, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted		As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statements of operations and comprehensive income
Net premiums written	$	10,302	$	(9)	$	10,293	$	19,501	$	(19)	$	19,482
Net premiums earned	9,557		(8)		9,549		18,303		(17)		18,286
Net realized gains (losses)	(504)		1		(503)		(403)		(77)		(480)
Market risk benefits gains (losses)	—		(33)		(33)		—		16		16
Losses and loss expenses	5,408		(202)		5,206		10,195		(425)		9,770
Policy benefits	159		202		361		304		430		734
Policy acquisition costs	1,739		(13)		1,726		3,476		(31)		3,445

Other (income) expense	101		—		101		(209)		(2)		(211)
Income tax expense	293		(2)		291		648		(4)		644
Net Income	1,215		(25)		1,190		3,189		(46)		3,143
Other comprehensive income
Change in current discount rate on future policy benefits	—		632		632		—		1,067		1,067
Change in instrument-specific credit risk on market risk benefits	—		17		17		—		40		40
Income tax benefit related to OCI items	245		(62)		183		1,057		(95)		962
Comprehensive income	(3,656)		583		(3,073)		(5,436)		987		(4,449)


	Six Months Ended
	June 30,2022
(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	$	5,160	$	6	$	5,166





Net cash flows used for financing activities	(719)		(6)		(725)

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.

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Investments, Debt and Equity Securities [Abstract]

Acquisitions

6 Months Ended

Jun. 30, 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. Direct costs related to the acquisition were expensed as incurred.

The following table summarizes the fair value of the assets acquired and liabilities assumed at July 1, 2022.


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

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		Six Months Ended
Pro forma:	June 30		June 30
(in millions of U.S. dollars)	2022		2022
Net premiums earned	$	10,299	$	19,811
Total revenues	$	10,620	$	21,037
Net income	$	1,276	$	3,335

Huatai Group

Huatai Insurance Group Co., Ltd. (Huatai Group) is a Chinese financial services holding company, and the parent company of, among others, Huatai Property & Casualty Insurance Co., Ltd. (Huatai P&C), Huatai Life Insurance Co., Ltd. (Huatai Life), and Huatai Asset Management Co., Ltd., of which Huatai Group owns 100 percent, 80 percent, and 82 percent, respectively (collectively, Huatai).

As of June 30, 2023, Chubb's aggregate ownership interest in Huatai Group was approximately 64.2 percent. Chubb applied 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.

On July 1, 2023, Chubb completed the acquisition of an additional 5.4 percent of ownership interest in Huatai Group, increasing its aggregate ownership interest to approximately 69.6 percent. Effective July 1, 2023, and starting with our third quarter 2023 reporting, Chubb will apply consolidation accounting to its investment in Huatai Group.

Chubb has agreements in place to acquire approximately 16.6 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 $464 million for the approximately 16.6 percent of ownership interests, and the remaining aggregate purchase price to be paid upon closing is approximately $0.5 billion, based on current exchange rates. Refer to Note 2 to the Consolidated Financial Statements in our 2022 Form 10-K for additional information.

Investments

6 Months Ended

Jun. 30, 2023

Investments

a) Transfers of securities

In June 2023, we determined that we no longer have the intent to hold securities in our held to maturity (HTM) portfolio until maturity. As a result, our entire HTM securities portfolio was transferred to the available for sale (AFS) portfolio. This decision allowed us to increase our flexibility to execute on our investment strategy and take advantage of the continuing higher reinvestment environment while not making any major change to our current asset allocation. At the time of the transfer on June 30, 2023, these securities had a carrying value of $8.2 billion and a fair value of $7.8 billion, resulting in an increase to Unrealized depreciation in OCI of $428 million, after-tax. This transfer represents a non-cash transaction and does not impact the Consolidated Statements of Cash Flows.

b) Fixed maturities


June 30, 2023	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	3,942	$	—	$	6	$	(204)	$	3,744
Non-U.S.	31,513		(64)		267		(2,014)		29,702
Corporate and asset-backed securities	43,348		(127)		90		(3,134)		40,177
Mortgage-backed securities	20,032		(2)		10		(2,068)		17,972
Municipal	5,389		—		9		(204)		5,194
	$	104,224	$	(193)	$	382	$	(7,624)	$	96,789


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


December 31, 2022	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
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:


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

Total		$	8,882	100	%

The following table presents fixed maturities by contractual maturity:


	June 30, 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	$	4,355	$	4,355	$	2,962	$	2,962
Due after 1 year through 5 years	30,067		30,067		24,791		24,791
Due after 5 years through 10 years	28,491		28,491		26,679		26,679
Due after 10 years	15,904		15,904		14,937		14,937
	78,817		78,817		69,369		69,369
Mortgage-backed securities	17,972		17,972		15,851		15,851
	$	96,789	$	96,789	$	85,220	$	85,220
Held to maturity
Due in 1 year or less	$	—	$	—	$	1,015	$	1,003
Due after 1 year through 5 years	—		—		3,658		3,531
Due after 5 years through 10 years	—		—		1,460		1,423
Due after 10 years	—		—		1,260		1,131
	—		—		7,393		7,088
Mortgage-backed securities	—		—		1,455		1,351
	$	—	$	—	$	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.

c) Gross unrealized loss

Fixed maturities in an unrealized loss position at June 30, 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 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
June 30, 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	$	1,843	$	(70)	$	1,779	$	(134)	$	3,622	$	(204)
Non-U.S.	7,895		(243)		14,825		(1,377)		22,720		(1,620)
Corporate and asset-backed securities	11,053		(352)		19,674		(1,718)		30,727		(2,070)
Mortgage-backed securities	6,081		(258)		11,418		(1,763)		17,499		(2,021)
Municipal	3,626		(63)		856		(141)		4,482		(204)
Total AFS fixed maturities	$	30,498	$	(986)	$	48,552	$	(5,133)	$	79,050	$	(6,119)


	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 June 30, 2023, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $768 million necessary due to limitations on the utilization of these losses. As part of evaluating whether it was more likely than not that we could realize these losses, we considered realized gains, carryback ability and available tax planning strategies.

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	168	$	27	$	169	$	14


Provision for expected credit loss	79		61		138		78

Write-offs charged against the expected credit loss	(2)		—		(4)		—

Recovery of expected credit loss	(52)		(10)		(110)		(14)
Valuation allowance for expected credit losses - end of period	$	193	$	78	$	193	$	78
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	33	$	34	$	34	$	35


Provision for expected credit loss	—		1		—		1


Recovery of expected credit loss	(33)		(1)		(34)		(2)
Valuation allowance for expected credit losses - end of period	$	—	$	34	$	—	$	34

d) Net realized gains (losses)

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Fixed maturities:



Gross realized gains	$	17	$	362	$	19	$	401
Gross realized losses	(113)		(700)		(272)		(827)
Net (provision for) recovery of expected credit losses	8		(51)		10		(63)
Impairment (1)	(19)		(53)		(44)		(89)
Total fixed maturities	(107)		(442)		(287)		(578)
Equity securities	28		(263)		39		(207)

Other investments	20		4		35		59
Foreign exchange	(186)		270		(55)		344
Investment and embedded derivative instruments	(55)		(81)		(101)		(34)
Other derivative instruments	2		9		1		10
Other	(6)		—		(13)		(74)
Net realized gains (losses) (pre-tax)	$	(304)	$	(503)	$	(381)	$	(480)

(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
							June 30
	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	$	28	$	20	$	48	$	(263)	$	4	$	(259)
Less: Net gains (losses) recognized from sales of securities	2		—		2		163		—		163
Unrealized gains (losses) recognized for securities still held at reporting date	$	26	$	20	$	46	$	(426)	$	4	$	(422)


							Six Months Ended
							June 30
	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	$	39	$	35	$	74	$	(207)	$	59	$	(148)
Less: Net gains (losses) recognized from sales of securities	(3)		—		(3)		418		—		418
Unrealized gains (losses) recognized for securities still held at reporting date	$	42	$	35	$	77	$	(625)	$	59	$	(566)

e) 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	June 30, 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	$	1,177	$	428	$	1,074	$	505
Real assets	2 to 13 Years	2,149		560		2,166		681
Distressed	2 to 8 Years	1,141		620		1,048		755
Private credit	3 to 8 Years	304		316		215		429
Traditional	2 to 14 Years	8,068		4,297		7,424		5,025
Vintage	1 to 2 Years	50		—		55		—
Investment funds	Not Applicable	399		—		373		—
		$	13,288	$	6,221	$	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 consent from the general partner of the 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.

f) 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 June

30, 2023, and December 31, 2022, are investments, primarily fixed maturities, totaling $15,982 million and $15,721 million, respectively, and cash of $90 million and $115 million, respectively.

The following table presents the components of restricted assets:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Trust funds	$	8,194	$	8,120
Deposits with U.S. regulatory authorities	2,337		2,345
Deposits with non-U.S. regulatory authorities	3,115		2,959
Assets pledged under repurchase agreements	1,565		1,527
Other pledged assets	861		885
Total	$	16,072	$	15,836

Fair value measurements

6 Months Ended

Jun. 30, 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


June 30, 2023	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	3,121	$	623	$	—	$	3,744
Non-U.S.	—		29,053		649		29,702
Corporate and asset-backed securities	—		37,653		2,524		40,177
Mortgage-backed securities	—		17,962		10		17,972
Municipal	—		5,194		—		5,194
	3,121		90,485		3,183		96,789
Equity securities	957		—		86		1,043
Short-term investments	2,335		1,759		3		4,097
Other investments (1)	542		441		—		983
Securities lending collateral	—		1,525		—		1,525
Investment derivatives	27		—		—		27
Derivatives designated as hedging instruments	—		64		—		64
Other derivative instruments	10		—		—		10
Separate account assets	5,480		94		—		5,574
Total assets measured at fair value (1)	$	12,472	$	94,368	$	3,272	$	110,112
Liabilities:
Investment derivatives	$	158	$	—	$	—	$	158
Derivatives designated as hedging instruments	—		47		—		47
Other derivative instruments	32		4		—		36
Market risk benefits (2)	—		—		722		722
Total liabilities measured at fair value	$	190	$	51	$	722	$	963

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $13,288 million, policy loans of $389 million, and other investments of $47 million at June 30, 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). Excluded from the following tables is the reconciliation of Market risk benefits, refer to Note 11 for additional information:



Three Months Ended June 30, 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	$	561	$	2,544	$	10		$	88		$	7
Transfers into Level 3	21		3		—			—			—
Transfers out of Level 3	—		(2)		—			—			—
Change in Net Unrealized Gains/Losses in OCI	15		4		—			—			—
Net Realized Gains/Losses	(1)		(5)		—			(2)			—
Purchases	62		118		—			4			(2)
Sales	(4)		(10)		—			(4)			(2)
Settlements	(5)		(128)		—			—			—

Balance, end of period	$	649	$	2,524	$	10		$	86		$	3
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(6)	$	—		$	(3)		$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	15	$	3	$	—		$	—		$	1



Three Months Ended June 30, 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		$	618		$	2,229		$	20	$	82	$	4
Transfers into Level 3		5			10			—		—		—
Transfers out of Level 3		—			(43)					—		—
Change in Net Unrealized Gains/Losses in OCI		(41)			(30)			—		—		—



Purchases		26			179			—		—		5
Sales		(19)			(24)			—		(1)		—
Settlements		(40)			(60)			(1)		—		—

Balance, end of period		$	549		$	2,261		$	19	$	81	$	9
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	(1)		$	—	$	(1)	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(41)		$	(30)		$	—	$	—	$	—



Six Months Ended June 30, 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 into Level 3	21		3		—			—			—
Transfers out of Level 3	—		(13)		—			—			—
Change in Net Unrealized Gains/Losses in OCI	11		2		—			—			(1)
Net Realized Gains/Losses	(1)		(3)		—			(6)			—
Purchases	105		323		—			11			3
Sales	(35)		(30)		—			(9)			(2)
Settlements	(16)		(207)		(1)			—			—

Balance, end of period	$	649	$	2,524	$	10		$	86		$	3
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(2)	$	—		$	(6)		$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	9	$	(2)	$	—		$	—		$	—



Six Months Ended June 30, 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		23			39			—		1		—
Transfers out of Level 3		(23)			(93)			(5)		—		—
Change in Net Unrealized Gains/Losses in OCI		(54)			(52)			—		—		—
Net Realized Gains/Losses		(2)			—			—		4		—

Purchases		69			494			—		3		7
Sales		(25)			(51)			—		(4)		—
Settlements		(72)			(125)			(2)		—		(5)

Balance, end of period		$	549		$	2,261		$	19	$	81	$	9
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	(2)		$	(1)		$	—	$	3	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(54)		$	(52)		$	—	$	—	$	—

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:


June 30, 2023	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total








Liabilities:
Repurchase agreements	$	—	$	1,518	$	—	$	1,518	$	1,518
Short-term debt	—		686		—		686		699
Long-term debt	—		12,133		—		12,133		13,782
Trust preferred securities	—		369		—		369		308
Total liabilities	$	—	$	14,706	$	—	$	14,706	$	16,307


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

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.

Deferred Policy Acquisition Costs Disclosures [Abstract]

Reinsurance

6 Months Ended

Jun. 30, 2023

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance


	June 30, 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	$	16,608	$	306	$	17,086	$	289
Reinsurance recoverable on paid losses and loss expenses	1,790		55		1,773		62
Reinsurance recoverable on losses and loss expenses	$	18,398	$	361	$	18,859	$	351
Reinsurance recoverable on policy benefits	$	315	$	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 insurance recoverables.

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


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023		2022
Valuation allowance for uncollectible reinsurance - beginning of period	$	351	$	329
Provision for uncollectible reinsurance	15		17
Write-offs charged against the valuation allowance	(6)		(4)
Foreign exchange revaluation	1		(1)

Valuation allowance for uncollectible reinsurance - end of period	$	361	$	341

Deferred acquisition costs

6 Months Ended

Jun. 30, 2023

Deferred Policy Acquisition Costs

Deferred acquisition costs

Deferred acquisition costs comprise capitalized costs on short-duration contracts of $3,201 million and $2,876 million and long-duration contracts of $3,465 million and $2,929 million at June 30, 2023, and June 30, 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:


	Six Months Ended June 30, 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	75		54		62		246		7		444
Amortization expense	(49)		(38)		(11)		(63)		(10)		(171)

Other (including foreign exchange)	10		11		10		(4)		—		27
Balance - end of period	$	356	$	803	$	456	$	1,081	$	118	$	2,814
Overseas General Insurance segment excluded from table											651
Total deferred acquisition costs on long-duration contracts											$	3,465


	Six Months Ended June 30, 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	72		58		19		50		29		228
Amortization expense	(36)		(37)		(9)		(47)		(10)		(139)

Other (including foreign exchange)	1		(27)		(8)		(8)		(9)		(51)
Balance - end of period	$	283	$	765	$	336	$	740	$	118	$	2,242
Overseas General Insurance segment excluded from table											687
Total deferred acquisition costs on long-duration contracts											$	2,929

Goodwill and Value of business acquired

6 Months Ended

Jun. 30, 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	10		4		—		139		—		(59)		94
Balance at June 30, 2023	$	6,955	$	2,234	$	134	$	4,744	$	371	$	1,884	$	16,322

VOBA

Value of business acquired (VOBA) represents the fair value of the future profits of in-force long duration contracts from businesses acquired, principally Cigna's Asian business, and is amortized in relation to the profit emergence of the underlying contracts. 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:


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023
Balance, beginning of period	$	3,702

Amortization of VOBA (1)	(162)
Foreign exchange revaluation and other	35
Balance, end of period	$	3,575

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

Unpaid losses and loss expenses

6 Months Ended

Jun. 30, 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:


	Six Months Ended
	June 30
	2023		2022
(in millions of U.S. dollars)			As Adjusted
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	11,227		10,391
Prior years (2)	(396)		(621)
Total	10,831		9,770
Net losses and loss expenses paid in respect of losses occurring in:
Current year	2,264		1,881
Prior years	7,527		6,566
Total	9,791		8,447
Foreign currency revaluation and other	171		(577)
Net unpaid losses and loss expenses – end of period	59,872		56,944
Reinsurance recoverable on unpaid losses (1)	16,608		16,504
Gross unpaid losses and loss expenses – end of period	$	76,480	$	73,448

(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 $0 million and $134 million for the six months ended June 30, 2023 and 2022, respectively.

Gross and net unpaid losses and loss expenses increased $733 million and $1.2 billion for the six months ended June 30, 2023, respectively, principally reflecting underlying exposure growth and the unfavorable impact of foreign currency movement. This increase was partially offset by large payments related to the Boy Scouts of America and favorable prior period development. The increase in net unpaid losses also reflected seasonality in our crop insurance business.

Prior Period Development

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

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


	Three Months Ended June 30						Six Months Ended June 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
2023
North America Commercial P&C Insurance	$	(139)	$	(7)	$	(146)	$	(130)	$	(88)	$	(218)
North America Personal P&C Insurance	—		(33)		(33)		—		(16)		(16)
North America Agricultural Insurance	—		(3)		(3)		—		(3)		(3)
Overseas General Insurance	—		(61)		(61)		—		(204)		(204)
Global Reinsurance	7		(24)		(17)		7		(32)		(25)
Corporate	60		—		60		70		—		70
Total	$	(72)	$	(128)	$	(200)	$	(53)	$	(343)	$	(396)
2022
North America Commercial P&C Insurance	$	(266)	$	(21)	$	(287)	$	(286)	$	(109)	$	(395)
North America Personal P&C Insurance	—		(3)		(3)		—		(54)		(54)
North America Agricultural Insurance	—		—		—		—		(26)		(26)
Overseas General Insurance	—		(173)		(173)		—		(233)		(233)
Global Reinsurance	(7)		32		25		(7)		29		22
Corporate	191		—		191		199		—		199
Total	$	(82)	$	(165)	$	(247)	$	(94)	$	(393)	$	(487)

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 and six months ended June 30, 2023 included $264 million and $308 million, respectively, from workers' compensation lines due to lower-than-expected loss experience and our annual assessment of multi-claimant events, including industrial accidents. The favorable development was partially offset by net adverse development of $119 million and $125 million, respectively, in commercial auto liability due to adverse reported loss experience.

Net favorable development for the three and six months ended June 30, 2022 included $286 million and $328 million, respectively, from workers' compensation lines due to lower-than-expected loss experience, related updates to loss development factors, and our annual assessment of multi-claimant events, including industrial accidents. Favorable development also included $132 million and $136 million, respectively, in primary general liability portfolios, due to lower-than-expected paid and reported case incurred activity. The favorable development was partially offset by net adverse development of $123 million and $116 million, respectively, in commercial auto liability due to adverse reported loss experience. Development for the six months ended June 30, 2022 also included favorable development of $78 million in A&H due to lower-than-expected loss emergence.

North America Personal P&C Insurance. Net favorable development for the three and six months ended June 30, 2023 had no individually significant movements. Net favorable development for the six months ended June 30, 2022 included favorable development in the homeowners line of business driven by lower-than-expected paid and reported loss activity.

Overseas General Insurance. Net favorable development for the three months ended June 30, 2023 included $61 million in short-tail property and casualty and A&H due to favorable claim development. Net favorable development for the six months ended June 30, 2023 was $204 million and included $110 million of favorable catastrophe development and non-catastrophe property loss emergence.

Net favorable development for the three and six months ended June 30, 2022 included $173 million and $233 million primarily due to favorable loss development in A&H and property lines, as well as reduced loss frequency in personal lines.

Corporate. Net adverse development for the three and six months ended June 30, 2023 was $60 million and $70 million, respectively, driven primarily by adverse development for molestation claims. Net adverse development for the three and six months ended June 30, 2022 was $191 million and $199 million, respectively, driven by adverse development of $155 million for molestation claims, primarily from updated modeling and specific account reviews. The remainder of the adverse development was driven by increased claim costs on non-A&E runoff workers’ compensation exposures, and charges relating to run-off operating expenses incurred.

Future policy benefits

6 Months Ended

Jun. 30, 2023

Liability for Future Policy Benefits Activity [Abstract]

Liability for future policy benefits

Future policy benefits

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


Present Value of Expected Net Premiums	Six Months Ended June 30, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	818	$	2,301	$	9,863	$	42	$	13,024
Beginning balance at original discount rate	879		2,354		10,409		43		13,685
Effect of changes in cash flow assumptions	15		(1)		(771)		1		(756)
Effect of actual variances from expected experience	(4)		(7)		(35)		—		(46)
Adjusted beginning of period balance	890		2,346		9,603		44		12,883
Issuances	62		157		564		3		786
Interest accrual	37		35		226		1		299
Net premiums collected (1)	(86)		(171)		(654)		(10)		(921)

Other (including foreign exchange)	17		23		118		(1)		157
Ending balance at original discount rate	920		2,390		9,857		37		13,204
Effect of changes in discount rate assumptions	(56)		(21)		(347)		—		(424)
Balance – end of period	$	864	$	2,369	$	9,510	$	37	$	12,780

(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	Six Months Ended June 30, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,427	$	6,048	$	14,206	$	239	$	21,920
Beginning balance at original discount rate	1,555		6,225		15,022		250		23,052
Effect of changes in cash flow assumptions	17		(1)		(780)		2		(762)
Effect of actual variances from expected experience	(3)		(3)		(30)		—		(36)
Adjusted beginning of period balance	1,569		6,221		14,212		252		22,254
Issuances	62		158		562		3		785
Interest accrual	43		105		289		3		440
Benefits payments	(84)		(130)		(708)		(5)		(927)

Other (including foreign exchange)	71		400		(178)		6		299
Ending balance at original discount rate	1,661		6,754		14,177		259		22,851
Effect of changes in discount rate assumptions	(130)		(76)		(574)		(4)		(784)
Balance – end of period	$	1,531	$	6,678	$	13,603	$	255	$	22,067


	June 30, 2023
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	$	667	$	4,309	$	4,093	$	218	$	751	$	10,038
Deferred profit liability	225		638		149		14		—		1,026
Net liability for future policy benefits, per consolidated balance sheet	892		4,947		4,242		232		751		11,064
Less: Reinsurance recoverable on future policy benefits	110		41		126		—		38		315
Net liability for future policy benefits, after reinsurance recoverable	$	782	$	4,906	$	4,116	$	232	$	713	$	10,749
Weighted average duration (years)	9.3		25.0		10.6		14.0		4.8		16.4


Present Value of Expected Net Premiums	Six Months Ended June 30, 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	(27)		(11)		(75)		1		(112)
Adjusted beginning of period balance	370		1,230		2,248		29		3,877
Issuances	66		71		67		2		206
Interest accrual	31		21		72		—		124
Net premiums collected (1)	(51)		(80)		(127)		(5)		(263)


Other (including foreign exchange)	(12)		(30)		(17)		(1)		(60)
Ending balance at original discount rate	404		1,212		2,243		25		3,884
Effect of changes in discount rate assumptions	(24)		(27)		(104)		—		(155)
Balance – end of period	$	380	$	1,185	$	2,139	$	25	$	3,729

(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	Six Months Ended June 30, 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	(25)		(9)		(79)		1		(112)
Adjusted beginning of period balance	828		3,822		4,510		134		9,294
Issuances	69		71		67		2		209
Interest accrual	35		74		100		—		209
Benefits payments	(44)		(95)		(167)		—		(306)


Other (including foreign exchange)	(32)		(77)		(49)		—		(158)
Ending balance at original discount rate	856		3,795		4,461		136		9,248
Effect of changes in discount rate assumptions	(68)		76		(204)		(7)		(203)
Balance – end of period	$	788	$	3,871	$	4,257	$	129	$	9,045


	June 30, 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	$	408	$	2,686	$	2,118	$	104	$	748	$	6,064
Deferred profit liability	165		415		104		8		—		692
Net liability for future policy benefits, per consolidated balance sheet	573		3,101		2,222		112		748		6,756
Less: Reinsurance recoverable on future policy benefits	108		33		58		—		43		242
Net liability for future policy benefits, after reinsurance recoverable	$	465	$	3,068	$	2,164	$	112	$	705	$	6,514
Weighted average duration (years)	9.3		19.5		10.3		27.5		5.2		14.1

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


	June 30		June 30
(in millions of U.S. dollars)	2023		2022

Term Life
Undiscounted expected future benefit payments	$	2,381	$	1,266
Undiscounted expected future gross premiums	2,701		1,382
Discounted expected future benefit payments	1,531		788
Discounted expected future gross premiums	1,805		1,045
Whole Life
Undiscounted expected future benefit payments	16,890		9,799
Undiscounted expected future gross premiums	6,971		3,457
Discounted expected future benefit payments	6,678		3,871
Discounted expected future gross premiums	5,455		2,499
A&H
Undiscounted expected future benefit payments	22,461		5,903
Undiscounted expected future gross premiums	33,371		8,752
Discounted expected future benefit payments	13,603		4,257
Discounted expected future gross premiums	20,339		5,683
Other
Undiscounted expected future benefit payments	374		216
Undiscounted expected future gross premiums	94		72
Discounted expected future benefit payments	255		129
Discounted expected future gross premiums	$	84	$	64

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


	Gross Premiums or Assessments				Interest Accretion
	Six Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Life Insurance
Term Life	$	339	$	172	$	6	$	4

Whole Life	487		173		70		53
A&H	1,409		533		63		28
Other	32		134		2		—
Overseas General Insurance
A&H	768		705		—		—
Total	$	3,035	$	1,717	$	141	$	85

The following table presents the weighted-average interest rates:


	Interest Accretion Rate				Current Discount Rate

	June 30				June 30
	2023		2022		2023		2022
Life Insurance
Term Life	2.9	%	2.4	%	5.8	%	4.9	%

Whole Life	4.0	%	4.4	%	5.3	%	6.0	%
A&H	3.8	%	3.9	%	6.3	%	5.0	%
Other	3.8	%	3.3	%	5.1	%	4.4	%

Policyholders' account balances

6 Months Ended

Jun. 30, 2023

Policyholder Account Balance [Abstract]

Liability for policyholders' account balance

Policyholders' account balances

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


	Six Months Ended June 30, 2023
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance – beginning of period	$	1,719	$	1,421	$	3,140

Premiums received	175		53		228
Policy charges (1)	(89)		(5)		(94)
Surrenders and withdrawals	(41)		(35)		(76)
Benefit payments	(4)		(22)		(26)

Interest credited	22		15		37
Other (including foreign exchange)	19		(13)		6
Balance, end of period	$	1,801	$	1,414	$	3,215


	Six Months Ended June 30, 2022
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance – beginning of period	$	1,612	$	1,154	$	2,766

Premiums received	195		58		253
Policy charges (1)	(92)		(5)		(97)
Surrenders and withdrawals	(37)		(35)		(72)
Benefit payments	(3)		(11)		(14)

Interest credited	20		18		38
Other (including foreign exchange)	(36)		(89)		(125)
Balance, end of period	$	1,659	$	1,090	$	2,749

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



	June 30
	2023						2022
(in millions of U.S. dollars, except for percentages)	Universal Life			Other			Universal Life			Other
Weighted-average crediting rate	3.8		%	2.2		%	3.5		%	3.1		%
Net amount at risk (1)	$	10,405		$	1,447		$	10,041		$	507
Cash Surrender Value	$	978		$	1,122		$	876		$	831

(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


	June 30, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	4	$	—	$	382	$	873	$	1,259
2.01% – 4.00%	471		50		—		—		521
Greater than 4.00%	20		—		—		1		21
Total	$	495	$	50	$	382	$	874	$	1,801


	June 30, 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
Up to 2.00%	$	4	$	—	$	410	$	730	$	1,144
2.01% – 4.00%	236		211		37		—		484
Greater than 4.00%	31		—		—		—		31
Total	$	271	$	211	$	447	$	730	$	1,659

Other policyholders' account balances


	June 30, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	430	$	550	$	189	$	235	$	1,404

Greater than 4.00%	10		—		—		—		10
Total	$	440	$	550	$	189	$	235	$	1,414


	June 30, 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
Up to 2.00%	$	120	$	521	$	209	$	236	$	1,086

Greater than 4.00%	4		—		—		—		4
Total	$	124	$	521	$	209	$	236	$	1,090

Market risk benefits

6 Months Ended

Jun. 30, 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:


	Six Months Ended June 30
(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	37		(356)
Effect of changes in equity markets	(144)		482
Effect of changes in volatilities	31		62



Effect of timing and all other	6		(46)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	706	$	897
Effect of changes in the instrument-specific credit risk	16		17
Balance – end of period	$	722	$	914
Weighted-average age of policyholders (years)	73		73
Net amount at risk	$	2,048	$	2,667

Excluded from the table above are MRB gains (losses) of $(192) million and $158 million for the six months ended June 30, 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

June 30, 2023

June 30, 2022

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

1% – 30%

4.0

%

3% – 31%

4.0

%

Annuitization rate

0% – 100%

4.2

%

0% – 100%

4.4

%

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

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

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

6 Months Ended

Jun. 30, 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:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Cash and cash equivalents	$	98	$	141

Mutual funds	5,382		4,960

Fixed maturities	94		89

Total	$	5,574	$	5,190

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


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023		2022
Balance – beginning of period	$	5,190	$	5,560
Premiums and deposits	517		796
Policy charges	(70)		(60)
Surrenders and withdrawals	(246)		(196)
Benefit payments	(193)		(193)
Investment performance	361		(936)

Other (including foreign exchange)	15		(146)
Balance – end of period	$	5,574	$	4,825
Cash surrender value (1)	$	5,369	$	4,625

(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

6 Months Ended

Jun. 30, 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:


				June 30, 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)	$	24	$	(131)	$	3,849		$	64		$	(115)	$	4,134
Options/Futures contracts on notes and bonds	OA / (AP)	3		(27)		2,170			18			(24)		1,511
Convertible securities (1)	FM AFS / ES	26		—		32			30			—		37
		$	53	$	(158)	$	6,051		$	112		$	(139)	$	5,682
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	—	$	(32)	$	1,080		$	33		$	—	$	939
Other	OA / (AP)	10		(4)		348			—			—		—
		$	10	$	(36)	$	1,428		$	33		$	—	$	939
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	64	$	—	$	1,625		$	17		$	—	$	1,595
Cross-currency swaps - net investment hedges	OA / (AP)	—		(47)		1,625			—			(53)		1,604
		$	64	$	(47)	$	3,250		$	17		$	(53)	$	3,199

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

At June 30, 2023, and December 31, 2022, net derivative liabilities of $139 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 June 30, 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.

The following table presents pre-tax gains (losses) recognized in OCI and reclassified into earnings for fair value hedges:


	Three Months Ended		Six Months Ended
	June 30		June 30
(in millions of U.S. dollars)	2023		2023
Gain recognized in OCI	$	57	$	40
Net realized gains reclassified from OCI	11		31
Interest expense reclassified from OCI	(4)		(8)
OCI gain/(loss) after reclassifications	$	50	$	17

(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.

The following table presents pre-tax gains (losses) recognized in OCI and reclassified into earnings for net investment hedges:


	Three Months Ended		Six Months Ended
	June 30		June 30
(in millions of U.S. dollars)	2023		2023
Gain recognized in OCI	$	35	$	12
Interest income reclassified from OCI	4		7
OCI gain/(loss) after reclassifications	$	31	$	5

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				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(27)	$	(214)	$	(78)	$	(268)

All other futures contracts, options, and equities	(29)		134		(24)		236
Convertible securities (1)	1		(1)		1		(2)

Total investment and embedded derivative instruments	$	(55)	$	(81)	$	(101)	$	(34)
Other derivative instruments:
Futures contracts on equities (2)	$	(75)	$	144	$	(132)	$	186
Other	2		9		1		10
Total other derivative instruments	$	(73)	$	153	$	(131)	$	196
	$	(128)	$	72	$	(232)	$	162

(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

	June 30, 2023		December 31, 2022
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	741	$	820
U.S. Treasury / Agency	89		72
Non-U.S.	663		604
Corporate and asset-backed securities	28		27

Municipal	4		—


	$	1,525	$	1,523
Gross amount of recognized liability for securities lending payable	$	1,525	$	1,523

At June 30, 2023, and December 31, 2022, our repurchase agreement obligations of $1,518 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
	June 30, 2023										December 31, 2022
	Up to 30 Days		30-90 Days		Greater than 90 Days		Total		Up to 30 Days		30-90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	—	$	—	$	2	$	2	$	12	$	—	$	12
U.S. Treasury / Agency	—		—		102		102		—		101		101


Mortgage-backed securities	1		51		1,409		1,461		921		493		1,414
	$	1	$	51	$	1,513	$	1,565	$	933	$	594	$	1,527
Gross amount of recognized liabilities for repurchase agreements							$	1,518					$	1,419
Difference (1)							$	47					$	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 June 30, 2023, and December 31, 2022, commitments to purchase fixed income securities over the next several years were $892 million and $770 million, respectively.

f) Other investments

At June 30, 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 $12.9 billion. In connection with these investments, we have commitments that may require funding of up to $6.2 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 June 30, 2023, $61 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 June 30, 2023, and December 31, 2022, the right-of-use asset was $543 million and $607 million, respectively, recorded within Other assets, and the lease liability was $575 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

6 Months Ended

Jun. 30, 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 our May 2023 annual general meeting, our shareholders approved the reduction of share capital by reducing par value from CHF 24.15 per share to CHF 0.50 per share and thereby increasing capital contribution reserves. The par value reduction did not change our number of Common Shares issued. At June 30, 2023, our Common Shares had a par value of CHF 0.50 per share.

At our May 2023 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.44 per share, expected to be paid in four quarterly installments of $0.86 per share after the general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board of Directors (Board) will determine the record and payment dates at which the annual dividend may be paid until the date of 2024 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion.

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

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


	Three Months Ended						Six Months Ended
	June 30						June 30
	2023			2022			2023			2022
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.77	$	0.86	0.80	$	0.83	1.54	$	1.69	1.54	$	1.63

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. At our May 2023 annual general meeting, held on May 17, 2023, our shareholders approved the cancellation of 14,925,028 shares purchased under our share repurchase programs during 2022. The capital reduction was subject to publication requirements and became effective in

accordance with Swiss law on May 22, 2023. During the six months ended June 30, 2023, 5,684,700 shares were repurchased, 14,925,028 shares were canceled, and 1,781,198 net shares were issued under employee share-based compensation plans. At June 30, 2023, 20,760,232 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;

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

•$5.0 billion of Chubb Common Shares effective July 1, 2023 with no expiration date.

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars, except share data)	2023		2022		2023		2022
Number of shares repurchased	3,674,300		5,476,300		5,684,700		10,346,200
Cost of shares repurchased	$	724	$	1,129	$	1,152	$	2,130
Repurchase authorization remaining at end of period (1)	$	—	$	2,500	$	—	$	2,500

(1) As of June 30, 2023, $474 million expired under the May 2022 $2.5 billion share repurchase authorization.

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


	Three Months Ended				Six Months Ended
	June 30				June 30
	2023		2022		2023		2022
(in millions of U.S. dollars)			As Adjusted				As Adjusted
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(5,659)	$	(1,584)	$	(7,279)	$	2,256
Change in period, before reclassification from AOCI (before tax)	(1,301)		(4,786)		305		(9,574)
Amounts reclassified from AOCI (before tax)	107		442		287		578
Change in period, before tax	(1,194)		(4,344)		592		(8,996)
Income tax (expense) benefit	44		215		(122)		1,027
Balance – end of period, net of tax	(6,809)		(5,713)		(6,809)		(5,713)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(205)		(997)		(75)		(1,399)
Change in period, before tax	(35)		632		(186)		1,067
Income tax (expense) benefit	(7)		(62)		14		(95)
Balance – end of period, net of tax	(247)		(427)		(247)		(427)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(27)		(34)		(24)		(57)
Change in period, before and net of tax	11		17		8		40

Balance – end of period, net of tax	(16)		(17)		(16)		(17)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(3,136)		(2,043)		(2,966)		(2,114)
Change in period, before reclassification from AOCI (before tax)	219		(756)		45		(689)
Amounts reclassified from AOCI (before tax)	(4)		—		(7)		—
Change in period, before tax	215		(756)		38		(689)
Income tax benefit	1		31		8		35
Balance – end of period, net of tax	(2,920)		(2,768)		(2,920)		(2,768)
Fair value hedging instruments
Balance – beginning of period, net of tax	(92)		—		(66)		—
Change in period, before reclassification from AOCI (before tax)	57		—		40		—
Amounts reclassified from AOCI (before tax)	(7)		—		(23)		—
Change in period, before tax	50		—		17		—
Income tax expense	(11)		—		(4)		—
Balance – end of period, net of tax	(53)		—		(53)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	224		255		225		240
Change in period, before tax	(2)		5		(2)		24
Income tax (expense) benefit	1		(1)		—		(5)
Balance – end of period, net of tax	223		259		223		259
Accumulated other comprehensive income (loss)	$	(9,822)	$	(8,666)	$	(9,822)	$	(8,666)

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


	Three Months Ended				Six Months Ended				Consolidated Statement of Operations Location
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Fixed maturities available for sale	$	(107)	$	(442)	$	(287)	$	(578)	Net realized gains (losses)
Income tax benefit	16		77		34		99		Income tax expense
	$	(91)	$	(365)	$	(253)	$	(479)	Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	4	$	—	$	7	$	—	Interest expense
Income tax expense	—		—		(1)		—		Income tax expense
	$	4	$	—	$	6	$	—	Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	11	$	—	$	31	$	—	Net realized gains (losses)
Cross-currency swaps	(4)		—		(8)		—		Interest expense
Income tax expense	(2)		—		(5)		—		Income tax expense
	$	5	$	—	$	18	$	—	Net income
Total amounts reclassified from AOCI	$	(82)	$	(365)	$	(229)	$	(479)

The entire disclosure for equity.

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

Share-based compensation	6 Months Ended
Share-based compensation	Jun. 30, 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

6 Months Ended

Jun. 30, 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 June 30	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		22		6		1		1
Expected return on plan assets	(56)		(13)		(71)		(11)		(1)		(1)
Amortization of net actuarial loss	—		—		—		—		—		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(22)		(4)		(49)		(5)		—		—
Net periodic benefit cost (benefit)	$	(22)	$	(2)	$	(49)	$	(4)	$	—	$	—


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2023				2022				2023			2022
Six Months Ended June 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost:	$	—	$	4	$	—	$	2		$	—		$	—
Non-service cost (benefit):
Interest cost	68		18		43		12			1			1
Expected return on plan assets	(112)		(25)		(142)		(22)			(2)			(1)
Amortization of net actuarial loss	—		—		—		—			—			—
Amortization of prior service cost	—		—		—		—			—			—
Settlements	—		—		—		—			—			—
Total non-service cost (benefit)	(44)		(7)		(99)		(10)			(1)			—
Net periodic benefit cost (benefit)	$	(44)	$	(3)	$	(99)	$	(8)		$	(1)		$	—

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended June 30	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	(3)		(5)		—		—
Administrative expenses	(23)		(49)		—		—
Total non-service cost (benefit)	(26)		(54)		—		—
Net periodic benefit cost (benefit)	$	(24)	$	(53)	$	—	$	—


	Pension Benefit Plans				Other Postretirement Benefit Plans
Six Months Ended June 30	2023		2022		2023		2022
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	4		2		—		—
Total service cost	4		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(5)		(10)		—		—
Administrative expenses	(46)		(99)		(1)		—
Total non-service cost (benefit)	(51)		(109)		(1)		—
Net periodic benefit cost (benefit)	$	(47)	$	(107)	$	(1)	$	—

Other Income and Expense

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Other Income and Expense Disclosure

Other income and expense


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Equity in net income (loss) of partially-owned entities (1)	$	120	$	(72)	$	460	$	291
Gains (losses) from fair value changes in separate account assets (2)	(12)		(18)		(37)		(49)
Federal excise and capital taxes	(6)		(5)		(11)		(9)

Other	(2)		(6)		(16)		(22)
Total	$	100	$	(101)	$	396	$	211

(1) Equity in net income (loss) of partially-owned entities includes mark-to-market gains (losses) on private equities where we own more than three percent of $(3) million and $239 million for the three and six months ended June 30, 2023, respectively, and $(134) million and $121 million, respectively, for the prior year periods. This line item also includes net income of $22 million and $36 million attributable to our investments in Huatai for the three and six months ended June 30, 2023, respectively, compared to $15 million and $55 million, respectively, for the prior year periods.

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

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

Segment information

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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 primarily related to the acquisition of Cigna's business in Asia. These items are not allocated to the segment level as they are one-time in nature and are not related to the ongoing business activities of the segment. The Chief Executive Officer does not manage segment results or allocate resources to segments when considering these costs, and therefore are excluded from our definition of segment income (loss).

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

•Losses and loss expenses include realized gains and losses on crop derivatives. These derivatives were purchased to provide economic benefit, in a manner similar to reinsurance protection, in the event that a significant decline in

commodity pricing impacts underwriting results. We view gains and losses on these derivatives as part of the results of our underwriting operations, and therefore realized gains (losses) from these derivatives are reclassified to losses and loss expenses.

•Policy benefits include fair value changes on separate accounts that do not qualify for separate accounting under 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 June 30, 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	$	5,155	$	1,581	$	767	$	2,885	$	293	$	1,270	$	—	$	—	$	11,951
Net premiums earned	4,606		1,357		635		2,908		237		1,256		—		—		10,999
Losses and loss expenses	2,871		846		507		1,267		91		35		61		5		5,683
Policy benefits	—		—		—		137		—		705		—		(12)		830
Policy acquisition costs	614		277		37		746		65		277		—		—		2,016
Administrative expenses	316		84		3		292		9		170		95		—		969
Underwriting income (loss)	805		150		88		466		72		69		(156)		7		1,501
Net investment income	726		86		14		200		48		161		3		(93)		1,145
Other (income) expense	5		(1)		(1)		(10)		—		(26)		14		(81)		(100)
Amortization expense of purchased intangibles	—		3		7		15		—		2		43		—		70
Segment income (loss)	$	1,526	$	234	$	96	$	661	$	120	$	254	$	(210)	$	(5)	$	2,676
Net realized gains (losses)													(309)		5		(304)
Market risk benefits gains (losses)													(7)		—		(7)
Interest expense													165		—		165
Cigna integration expenses													15		—		15
Income tax expense													392		—		392
Net income (loss)													$	(1,098)	$	—	$	1,793


For the Three Months Ended June 30, 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	$	4,665	$	1,426	$	738	$	2,640	$	262	$	562	$	—	$	—	$	10,293
Net premiums earned	4,248		1,271		573		2,696		222		539		—		—		9,549
Losses and loss expenses	2,446		773		478		1,143		139		27		191		9		5,206
Policy benefits	—		—		—		81		—		298		—		(18)		361
Policy acquisition costs	545		258		31		697		57		138		—		—		1,726
Administrative expenses	277		73		2		278		10		88		90		—		818
Underwriting income (loss)	980		167		62		497		16		(12)		(281)		9		1,438
Net investment income (loss)	522		64		7		162		76		109		(4)		(48)		888
Other (income) expense	—		1		—		3		1		(12)		138		(30)		101
Amortization expense of purchased intangibles	—		3		6		14		—		3		45		—		71
Segment income (loss)	$	1,502	$	227	$	63	$	642	$	91	$	106	$	(468)	$	(9)	$	2,154
Net realized gains (losses)													(512)		9		(503)
Market risk benefits gains (losses)													(33)		—		(33)
Interest expense													134		—		134
Cigna integration expenses													3		—		3
Income tax expense													291		—		291
Net income (loss)													$	(1,441)	$	—	$	1,190


For the Six Months Ended June 30, 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	$	9,443	$	2,877	$	1,060	$	6,148	$	570	$	2,563	$	—	$	—	$	22,661
Net premiums earned	8,975		2,677		794		5,694		481		2,520		—		—		21,141
Losses and loss expenses	5,600		1,734		647		2,504		203		67		72		4		10,831
Policy benefits	—		—		—		247		—		1,417		—		(37)		1,627
Policy acquisition costs	1,227		549		52		1,459		127		550		—		—		3,964
Administrative expenses	611		163		6		572		18		337		192		—		1,899
Underwriting income (loss)	1,537		231		89		912		133		149		(264)		33		2,820
Net investment income	1,424		168		31		388		97		314		14		(184)		2,252
Other (income) expense	12		—		—		(19)		(1)		(41)		(200)		(147)		(396)
Amortization expense of purchased intangibles	—		5		13		33		—		6		85		—		142
Segment income (loss)	$	2,949	$	394	$	107	$	1,286	$	231	$	498	$	(135)	$	(4)	$	5,326
Net realized gains (losses)													(385)		4		(381)
Market risk benefits gains (losses)													(122)		—		(122)
Interest expense													325		—		325
Cigna integration expenses													37		—		37
Income tax expense													776		—		776
Net income (loss)													$	(1,780)	$	—	$	3,685


For the Six Months Ended June 30, 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	$	8,704	$	2,606	$	800	$	5,719	$	515	$	1,138	$	—	$	—	$	19,482
Net premiums earned	8,362		2,518		544		5,324		457		1,081		—		—		18,286
Losses and loss expenses	4,943		1,486		386		2,439		254		51		201		10		9,770
Policy benefits	—		—		—		174		—		609		—		(49)		734
Policy acquisition costs	1,118		518		43		1,376		119		271		—		—		3,445
Administrative expenses	542		142		1		547		19		172		173		—		1,596
Underwriting income (loss)	1,759		372		114		788		65		(22)		(374)		39		2,741
Net investment income (loss)	1,011		123		14		309		161		212		(9)		(111)		1,710
Other (income) expense	6		2		—		5		1		(42)		(121)		(62)		(211)
Amortization expense of purchased intangibles	—		5		13		28		—		5		91		—		142
Segment income (loss)	$	2,764	$	488	$	115	$	1,064	$	225	$	227	$	(353)	$	(10)	$	4,520
Net realized gains (losses)													(490)		10		(480)
Market risk benefits gains (losses)													16		—		16
Interest expense													266		—		266
Cigna integration expenses													3		—		3
Income tax expense													644		—		644
Net income (loss)													$	(1,740)	$	—	$	3,143

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.

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Earnings per share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings per share


	Three Months Ended				Six Months Ended
	June 30				June 30
	2023		2022		2023		2022
(in millions of U.S. dollars, except share and per share data)			As Adjusted				As Adjusted
Numerator:
Net income	$	1,793	$	1,190	$	3,685	$	3,143
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	412,487,400		421,624,660		413,383,304		423,703,328
Denominator for diluted earnings per share:
Share-based compensation plans	3,084,476		3,793,686		3,387,233		3,982,116
Weighted-average shares outstanding and assumed conversions	415,571,876		425,418,346		416,770,537		427,685,444
Basic earnings per share	$	4.35	$	2.82	$	8.92	$	7.42
Diluted earnings per share	$	4.32	$	2.80	$	8.84	$	7.35
Potential anti-dilutive share conversions	3,143,311		1,690,893		2,190,304		1,196,180

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)

6 Months Ended

Jun. 30, 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:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Cash	$	2,285	$	2,012
Restricted cash	90		115
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,375	$	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						Six Months Ended
	June 30, 2022						June 30, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted		As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statements of operations and comprehensive income
Net premiums written	$	10,302	$	(9)	$	10,293	$	19,501	$	(19)	$	19,482
Net premiums earned	9,557		(8)		9,549		18,303		(17)		18,286
Net realized gains (losses)	(504)		1		(503)		(403)		(77)		(480)
Market risk benefits gains (losses)	—		(33)		(33)		—		16		16
Losses and loss expenses	5,408		(202)		5,206		10,195		(425)		9,770
Policy benefits	159		202		361		304		430		734
Policy acquisition costs	1,739		(13)		1,726		3,476		(31)		3,445

Other (income) expense	101		—		101		(209)		(2)		(211)
Income tax expense	293		(2)		291		648		(4)		644
Net Income	1,215		(25)		1,190		3,189		(46)		3,143
Other comprehensive income
Change in current discount rate on future policy benefits	—		632		632		—		1,067		1,067
Change in instrument-specific credit risk on market risk benefits	—		17		17		—		40		40
Income tax benefit related to OCI items	245		(62)		183		1,057		(95)		962
Comprehensive income	(3,656)		583		(3,073)		(5,436)		987		(4,449)


	Six Months Ended
	June 30,2022
(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	$	5,160	$	6	$	5,166





Net cash flows used for financing activities	(719)		(6)		(725)

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.

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-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair value measurements (Fair Value Measurement Policy) (Policies)	6 Months Ended
	Jun. 30, 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)

6 Months Ended

Jun. 30, 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:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Cash	$	2,285	$	2,012
Restricted cash	90		115
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	2,375	$	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						Six Months Ended
	June 30, 2022						June 30, 2022
(in millions of U.S. dollars)	As Previously Reported		LDTI Adoption Adjustment		As Adjusted		As Previously Reported		LDTI Adoption Adjustment		As Adjusted
Consolidated statements of operations and comprehensive income
Net premiums written	$	10,302	$	(9)	$	10,293	$	19,501	$	(19)	$	19,482
Net premiums earned	9,557		(8)		9,549		18,303		(17)		18,286
Net realized gains (losses)	(504)		1		(503)		(403)		(77)		(480)
Market risk benefits gains (losses)	—		(33)		(33)		—		16		16
Losses and loss expenses	5,408		(202)		5,206		10,195		(425)		9,770
Policy benefits	159		202		361		304		430		734
Policy acquisition costs	1,739		(13)		1,726		3,476		(31)		3,445

Other (income) expense	101		—		101		(209)		(2)		(211)
Income tax expense	293		(2)		291		648		(4)		644
Net Income	1,215		(25)		1,190		3,189		(46)		3,143
Other comprehensive income
Change in current discount rate on future policy benefits	—		632		632		—		1,067		1,067
Change in instrument-specific credit risk on market risk benefits	—		17		17		—		40		40
Income tax benefit related to OCI items	245		(62)		183		1,057		(95)		962
Comprehensive income	(3,656)		583		(3,073)		(5,436)		987		(4,449)


	Six Months Ended
	June 30,2022
(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	$	5,160	$	6	$	5,166





Net cash flows used for financing activities	(719)		(6)		(725)

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)

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the assets acquired and liabilities assumed at July 1, 2022.


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		Six Months Ended
Pro forma:	June 30		June 30
(in millions of U.S. dollars)	2022		2022
Net premiums earned	$	10,299	$	19,811
Total revenues	$	10,620	$	21,037
Net income	$	1,276	$	3,335

Investments (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

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


June 30, 2023	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	3,942	$	—	$	6	$	(204)	$	3,744
Non-U.S.	31,513		(64)		267		(2,014)		29,702
Corporate and asset-backed securities	43,348		(127)		90		(3,134)		40,177
Mortgage-backed securities	20,032		(2)		10		(2,068)		17,972
Municipal	5,389		—		9		(204)		5,194
	$	104,224	$	(193)	$	382	$	(7,624)	$	96,789


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


December 31, 2022	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
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:


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

Total		$	8,882	100	%

Schedule Of Fixed Maturities By Contractual Maturity

The following table presents fixed maturities by contractual maturity:


	June 30, 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	$	4,355	$	4,355	$	2,962	$	2,962
Due after 1 year through 5 years	30,067		30,067		24,791		24,791
Due after 5 years through 10 years	28,491		28,491		26,679		26,679
Due after 10 years	15,904		15,904		14,937		14,937
	78,817		78,817		69,369		69,369
Mortgage-backed securities	17,972		17,972		15,851		15,851
	$	96,789	$	96,789	$	85,220	$	85,220
Held to maturity
Due in 1 year or less	$	—	$	—	$	1,015	$	1,003
Due after 1 year through 5 years	—		—		3,658		3,531
Due after 5 years through 10 years	—		—		1,460		1,423
Due after 10 years	—		—		1,260		1,131
	—		—		7,393		7,088
Mortgage-backed securities	—		—		1,455		1,351
	$	—	$	—	$	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 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
June 30, 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	$	1,843	$	(70)	$	1,779	$	(134)	$	3,622	$	(204)
Non-U.S.	7,895		(243)		14,825		(1,377)		22,720		(1,620)
Corporate and asset-backed securities	11,053		(352)		19,674		(1,718)		30,727		(2,070)
Mortgage-backed securities	6,081		(258)		11,418		(1,763)		17,499		(2,021)
Municipal	3,626		(63)		856		(141)		4,482		(204)
Total AFS fixed maturities	$	30,498	$	(986)	$	48,552	$	(5,133)	$	79,050	$	(6,119)


	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				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	168	$	27	$	169	$	14


Provision for expected credit loss	79		61		138		78

Write-offs charged against the expected credit loss	(2)		—		(4)		—

Recovery of expected credit loss	(52)		(10)		(110)		(14)
Valuation allowance for expected credit losses - end of period	$	193	$	78	$	193	$	78
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	33	$	34	$	34	$	35


Provision for expected credit loss	—		1		—		1


Recovery of expected credit loss	(33)		(1)		(34)		(2)
Valuation allowance for expected credit losses - end of period	$	—	$	34	$	—	$	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				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	168	$	27	$	169	$	14


Provision for expected credit loss	79		61		138		78

Write-offs charged against the expected credit loss	(2)		—		(4)		—

Recovery of expected credit loss	(52)		(10)		(110)		(14)
Valuation allowance for expected credit losses - end of period	$	193	$	78	$	193	$	78
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	33	$	34	$	34	$	35


Provision for expected credit loss	—		1		—		1


Recovery of expected credit loss	(33)		(1)		(34)		(2)
Valuation allowance for expected credit losses - end of period	$	—	$	34	$	—	$	34

Schedule of Realized Gain (Loss)

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Fixed maturities:



Gross realized gains	$	17	$	362	$	19	$	401
Gross realized losses	(113)		(700)		(272)		(827)
Net (provision for) recovery of expected credit losses	8		(51)		10		(63)
Impairment (1)	(19)		(53)		(44)		(89)
Total fixed maturities	(107)		(442)		(287)		(578)
Equity securities	28		(263)		39		(207)

Other investments	20		4		35		59
Foreign exchange	(186)		270		(55)		344
Investment and embedded derivative instruments	(55)		(81)		(101)		(34)
Other derivative instruments	2		9		1		10
Other	(6)		—		(13)		(74)
Net realized gains (losses) (pre-tax)	$	(304)	$	(503)	$	(381)	$	(480)

(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
							June 30
	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	$	28	$	20	$	48	$	(263)	$	4	$	(259)
Less: Net gains (losses) recognized from sales of securities	2		—		2		163		—		163
Unrealized gains (losses) recognized for securities still held at reporting date	$	26	$	20	$	46	$	(426)	$	4	$	(422)


							Six Months Ended
							June 30
	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	$	39	$	35	$	74	$	(207)	$	59	$	(148)
Less: Net gains (losses) recognized from sales of securities	(3)		—		(3)		418		—		418
Unrealized gains (losses) recognized for securities still held at reporting date	$	42	$	35	$	77	$	(625)	$	59	$	(566)

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


	Expected Liquidation Period of Underlying Assets	June 30, 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	$	1,177	$	428	$	1,074	$	505
Real assets	2 to 13 Years	2,149		560		2,166		681
Distressed	2 to 8 Years	1,141		620		1,048		755
Private credit	3 to 8 Years	304		316		215		429
Traditional	2 to 14 Years	8,068		4,297		7,424		5,025
Vintage	1 to 2 Years	50		—		55		—
Investment funds	Not Applicable	399		—		373		—
		$	13,288	$	6,221	$	12,355	$	7,395

Schedule Of Components Of Restricted Assets

The following table presents the components of restricted assets:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Trust funds	$	8,194	$	8,120
Deposits with U.S. regulatory authorities	2,337		2,345
Deposits with non-U.S. regulatory authorities	3,115		2,959
Assets pledged under repurchase agreements	1,565		1,527
Other pledged assets	861		885
Total	$	16,072	$	15,836

Fair value measurements (Tables)

6 Months Ended

Jun. 30, 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


June 30, 2023	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	3,121	$	623	$	—	$	3,744
Non-U.S.	—		29,053		649		29,702
Corporate and asset-backed securities	—		37,653		2,524		40,177
Mortgage-backed securities	—		17,962		10		17,972
Municipal	—		5,194		—		5,194
	3,121		90,485		3,183		96,789
Equity securities	957		—		86		1,043
Short-term investments	2,335		1,759		3		4,097
Other investments (1)	542		441		—		983
Securities lending collateral	—		1,525		—		1,525
Investment derivatives	27		—		—		27
Derivatives designated as hedging instruments	—		64		—		64
Other derivative instruments	10		—		—		10
Separate account assets	5,480		94		—		5,574
Total assets measured at fair value (1)	$	12,472	$	94,368	$	3,272	$	110,112
Liabilities:
Investment derivatives	$	158	$	—	$	—	$	158
Derivatives designated as hedging instruments	—		47		—		47
Other derivative instruments	32		4		—		36
Market risk benefits (2)	—		—		722		722
Total liabilities measured at fair value	$	190	$	51	$	722	$	963

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $13,288 million, policy loans of $389 million, and other investments of $47 million at June 30, 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). Excluded from the following tables is the reconciliation of Market risk benefits, refer to Note 11 for additional information:



Three Months Ended June 30, 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	$	561	$	2,544	$	10		$	88		$	7
Transfers into Level 3	21		3		—			—			—
Transfers out of Level 3	—		(2)		—			—			—
Change in Net Unrealized Gains/Losses in OCI	15		4		—			—			—
Net Realized Gains/Losses	(1)		(5)		—			(2)			—
Purchases	62		118		—			4			(2)
Sales	(4)		(10)		—			(4)			(2)
Settlements	(5)		(128)		—			—			—

Balance, end of period	$	649	$	2,524	$	10		$	86		$	3
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(6)	$	—		$	(3)		$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	15	$	3	$	—		$	—		$	1



Three Months Ended June 30, 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		$	618		$	2,229		$	20	$	82	$	4
Transfers into Level 3		5			10			—		—		—
Transfers out of Level 3		—			(43)					—		—
Change in Net Unrealized Gains/Losses in OCI		(41)			(30)			—		—		—



Purchases		26			179			—		—		5
Sales		(19)			(24)			—		(1)		—
Settlements		(40)			(60)			(1)		—		—

Balance, end of period		$	549		$	2,261		$	19	$	81	$	9
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	(1)		$	—	$	(1)	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(41)		$	(30)		$	—	$	—	$	—



Six Months Ended June 30, 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 into Level 3	21		3		—			—			—
Transfers out of Level 3	—		(13)		—			—			—
Change in Net Unrealized Gains/Losses in OCI	11		2		—			—			(1)
Net Realized Gains/Losses	(1)		(3)		—			(6)			—
Purchases	105		323		—			11			3
Sales	(35)		(30)		—			(9)			(2)
Settlements	(16)		(207)		(1)			—			—

Balance, end of period	$	649	$	2,524	$	10		$	86		$	3
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(2)	$	—		$	(6)		$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	9	$	(2)	$	—		$	—		$	—



Six Months Ended June 30, 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		23			39			—		1		—
Transfers out of Level 3		(23)			(93)			(5)		—		—
Change in Net Unrealized Gains/Losses in OCI		(54)			(52)			—		—		—
Net Realized Gains/Losses		(2)			—			—		4		—

Purchases		69			494			—		3		7
Sales		(25)			(51)			—		(4)		—
Settlements		(72)			(125)			(2)		—		(5)

Balance, end of period		$	549		$	2,261		$	19	$	81	$	9
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	(2)		$	(1)		$	—	$	3	$	—
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	(54)		$	(52)		$	—	$	—	$	—

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:


June 30, 2023	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total








Liabilities:
Repurchase agreements	$	—	$	1,518	$	—	$	1,518	$	1,518
Short-term debt	—		686		—		686		699
Long-term debt	—		12,133		—		12,133		13,782
Trust preferred securities	—		369		—		369		308
Total liabilities	$	—	$	14,706	$	—	$	14,706	$	16,307


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)

6 Months Ended

Jun. 30, 2023

Reinsurance Disclosures [Abstract]

schedule of reinsurance recoverable on ceded insurance


	June 30, 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	$	16,608	$	306	$	17,086	$	289
Reinsurance recoverable on paid losses and loss expenses	1,790		55		1,773		62
Reinsurance recoverable on losses and loss expenses	$	18,398	$	361	$	18,859	$	351
Reinsurance recoverable on policy benefits	$	315	$	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:


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023		2022
Valuation allowance for uncollectible reinsurance - beginning of period	$	351	$	329
Provision for uncollectible reinsurance	15		17
Write-offs charged against the valuation allowance	(6)		(4)
Foreign exchange revaluation	1		(1)

Valuation allowance for uncollectible reinsurance - end of period	$	361	$	341

Deferred acquisition costs (Tables)

6 Months Ended

Jun. 30, 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:


	Six Months Ended June 30, 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	75		54		62		246		7		444
Amortization expense	(49)		(38)		(11)		(63)		(10)		(171)

Other (including foreign exchange)	10		11		10		(4)		—		27
Balance - end of period	$	356	$	803	$	456	$	1,081	$	118	$	2,814
Overseas General Insurance segment excluded from table											651
Total deferred acquisition costs on long-duration contracts											$	3,465


	Six Months Ended June 30, 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	72		58		19		50		29		228
Amortization expense	(36)		(37)		(9)		(47)		(10)		(139)

Other (including foreign exchange)	1		(27)		(8)		(8)		(9)		(51)
Balance - end of period	$	283	$	765	$	336	$	740	$	118	$	2,242
Overseas General Insurance segment excluded from table											687
Total deferred acquisition costs on long-duration contracts											$	2,929

Goodwill and Value of business acquired (Tables)

6 Months Ended

Jun. 30, 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	10		4		—		139		—		(59)		94
Balance at June 30, 2023	$	6,955	$	2,234	$	134	$	4,744	$	371	$	1,884	$	16,322

Schedule of Changes in VOBA

The following table presents a roll-forward of VOBA:


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023
Balance, beginning of period	$	3,702

Amortization of VOBA (1)	(162)
Foreign exchange revaluation and other	35
Balance, end of period	$	3,575

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

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

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

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

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

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

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

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

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

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

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

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

Liability for Claims and Claims Adjustment Expense [Abstract]

Unpaid losses and loss expenses (Tables)

6 Months Ended

Jun. 30, 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:


	Six Months Ended
	June 30
	2023		2022
(in millions of U.S. dollars)			As Adjusted
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	11,227		10,391
Prior years (2)	(396)		(621)
Total	10,831		9,770
Net losses and loss expenses paid in respect of losses occurring in:
Current year	2,264		1,881
Prior years	7,527		6,566
Total	9,791		8,447
Foreign currency revaluation and other	171		(577)
Net unpaid losses and loss expenses – end of period	59,872		56,944
Reinsurance recoverable on unpaid losses (1)	16,608		16,504
Gross unpaid losses and loss expenses – end of period	$	76,480	$	73,448

(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 $0 million and $134 million for the six months ended June 30, 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 June 30						Six Months Ended June 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
2023
North America Commercial P&C Insurance	$	(139)	$	(7)	$	(146)	$	(130)	$	(88)	$	(218)
North America Personal P&C Insurance	—		(33)		(33)		—		(16)		(16)
North America Agricultural Insurance	—		(3)		(3)		—		(3)		(3)
Overseas General Insurance	—		(61)		(61)		—		(204)		(204)
Global Reinsurance	7		(24)		(17)		7		(32)		(25)
Corporate	60		—		60		70		—		70
Total	$	(72)	$	(128)	$	(200)	$	(53)	$	(343)	$	(396)
2022
North America Commercial P&C Insurance	$	(266)	$	(21)	$	(287)	$	(286)	$	(109)	$	(395)
North America Personal P&C Insurance	—		(3)		(3)		—		(54)		(54)
North America Agricultural Insurance	—		—		—		—		(26)		(26)
Overseas General Insurance	—		(173)		(173)		—		(233)		(233)
Global Reinsurance	(7)		32		25		(7)		29		22
Corporate	191		—		191		199		—		199
Total	$	(82)	$	(165)	$	(247)	$	(94)	$	(393)	$	(487)

Future policy benefits (Tables)

6 Months Ended

Jun. 30, 2023

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	Six Months Ended June 30, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	818	$	2,301	$	9,863	$	42	$	13,024
Beginning balance at original discount rate	879		2,354		10,409		43		13,685
Effect of changes in cash flow assumptions	15		(1)		(771)		1		(756)
Effect of actual variances from expected experience	(4)		(7)		(35)		—		(46)
Adjusted beginning of period balance	890		2,346		9,603		44		12,883
Issuances	62		157		564		3		786
Interest accrual	37		35		226		1		299
Net premiums collected (1)	(86)		(171)		(654)		(10)		(921)

Other (including foreign exchange)	17		23		118		(1)		157
Ending balance at original discount rate	920		2,390		9,857		37		13,204
Effect of changes in discount rate assumptions	(56)		(21)		(347)		—		(424)
Balance – end of period	$	864	$	2,369	$	9,510	$	37	$	12,780

(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	Six Months Ended June 30, 2023
(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,427	$	6,048	$	14,206	$	239	$	21,920
Beginning balance at original discount rate	1,555		6,225		15,022		250		23,052
Effect of changes in cash flow assumptions	17		(1)		(780)		2		(762)
Effect of actual variances from expected experience	(3)		(3)		(30)		—		(36)
Adjusted beginning of period balance	1,569		6,221		14,212		252		22,254
Issuances	62		158		562		3		785
Interest accrual	43		105		289		3		440
Benefits payments	(84)		(130)		(708)		(5)		(927)

Other (including foreign exchange)	71		400		(178)		6		299
Ending balance at original discount rate	1,661		6,754		14,177		259		22,851
Effect of changes in discount rate assumptions	(130)		(76)		(574)		(4)		(784)
Balance – end of period	$	1,531	$	6,678	$	13,603	$	255	$	22,067


	June 30, 2023
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	$	667	$	4,309	$	4,093	$	218	$	751	$	10,038
Deferred profit liability	225		638		149		14		—		1,026
Net liability for future policy benefits, per consolidated balance sheet	892		4,947		4,242		232		751		11,064
Less: Reinsurance recoverable on future policy benefits	110		41		126		—		38		315
Net liability for future policy benefits, after reinsurance recoverable	$	782	$	4,906	$	4,116	$	232	$	713	$	10,749
Weighted average duration (years)	9.3		25.0		10.6		14.0		4.8		16.4


Present Value of Expected Net Premiums	Six Months Ended June 30, 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	(27)		(11)		(75)		1		(112)
Adjusted beginning of period balance	370		1,230		2,248		29		3,877
Issuances	66		71		67		2		206
Interest accrual	31		21		72		—		124
Net premiums collected (1)	(51)		(80)		(127)		(5)		(263)


Other (including foreign exchange)	(12)		(30)		(17)		(1)		(60)
Ending balance at original discount rate	404		1,212		2,243		25		3,884
Effect of changes in discount rate assumptions	(24)		(27)		(104)		—		(155)
Balance – end of period	$	380	$	1,185	$	2,139	$	25	$	3,729

(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	Six Months Ended June 30, 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	(25)		(9)		(79)		1		(112)
Adjusted beginning of period balance	828		3,822		4,510		134		9,294
Issuances	69		71		67		2		209
Interest accrual	35		74		100		—		209
Benefits payments	(44)		(95)		(167)		—		(306)


Other (including foreign exchange)	(32)		(77)		(49)		—		(158)
Ending balance at original discount rate	856		3,795		4,461		136		9,248
Effect of changes in discount rate assumptions	(68)		76		(204)		(7)		(203)
Balance – end of period	$	788	$	3,871	$	4,257	$	129	$	9,045


	June 30, 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	$	408	$	2,686	$	2,118	$	104	$	748	$	6,064
Deferred profit liability	165		415		104		8		—		692
Net liability for future policy benefits, per consolidated balance sheet	573		3,101		2,222		112		748		6,756
Less: Reinsurance recoverable on future policy benefits	108		33		58		—		43		242
Net liability for future policy benefits, after reinsurance recoverable	$	465	$	3,068	$	2,164	$	112	$	705	$	6,514
Weighted average duration (years)	9.3		19.5		10.3		27.5		5.2		14.1

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:


	June 30		June 30
(in millions of U.S. dollars)	2023		2022

Term Life
Undiscounted expected future benefit payments	$	2,381	$	1,266
Undiscounted expected future gross premiums	2,701		1,382
Discounted expected future benefit payments	1,531		788
Discounted expected future gross premiums	1,805		1,045
Whole Life
Undiscounted expected future benefit payments	16,890		9,799
Undiscounted expected future gross premiums	6,971		3,457
Discounted expected future benefit payments	6,678		3,871
Discounted expected future gross premiums	5,455		2,499
A&H
Undiscounted expected future benefit payments	22,461		5,903
Undiscounted expected future gross premiums	33,371		8,752
Discounted expected future benefit payments	13,603		4,257
Discounted expected future gross premiums	20,339		5,683
Other
Undiscounted expected future benefit payments	374		216
Undiscounted expected future gross premiums	94		72
Discounted expected future benefit payments	255		129
Discounted expected future gross premiums	$	84	$	64

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
	Six Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Life Insurance
Term Life	$	339	$	172	$	6	$	4

Whole Life	487		173		70		53
A&H	1,409		533		63		28
Other	32		134		2		—
Overseas General Insurance
A&H	768		705		—		—
Total	$	3,035	$	1,717	$	141	$	85

Weighted-average interests

The following table presents the weighted-average interest rates:


	Interest Accretion Rate				Current Discount Rate

	June 30				June 30
	2023		2022		2023		2022
Life Insurance
Term Life	2.9	%	2.4	%	5.8	%	4.9	%

Whole Life	4.0	%	4.4	%	5.3	%	6.0	%
A&H	3.8	%	3.9	%	6.3	%	5.0	%
Other	3.8	%	3.3	%	5.1	%	4.4	%

Policyholders' account balances (Tables)

6 Months Ended

Jun. 30, 2023

Policyholder Account Balance [Abstract]

Policyholder Account Balances

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


	Six Months Ended June 30, 2023
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance – beginning of period	$	1,719	$	1,421	$	3,140

Premiums received	175		53		228
Policy charges (1)	(89)		(5)		(94)
Surrenders and withdrawals	(41)		(35)		(76)
Benefit payments	(4)		(22)		(26)

Interest credited	22		15		37
Other (including foreign exchange)	19		(13)		6
Balance, end of period	$	1,801	$	1,414	$	3,215


	Six Months Ended June 30, 2022
(in millions of U.S. dollars)	Universal Life		Other		Total
Balance – beginning of period	$	1,612	$	1,154	$	2,766

Premiums received	195		58		253
Policy charges (1)	(92)		(5)		(97)
Surrenders and withdrawals	(37)		(35)		(72)
Benefit payments	(3)		(11)		(14)

Interest credited	20		18		38
Other (including foreign exchange)	(36)		(89)		(125)
Balance, end of period	$	1,659	$	1,090	$	2,749

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



	June 30
	2023						2022
(in millions of U.S. dollars, except for percentages)	Universal Life			Other			Universal Life			Other
Weighted-average crediting rate	3.8		%	2.2		%	3.5		%	3.1		%
Net amount at risk (1)	$	10,405		$	1,447		$	10,041		$	507
Cash Surrender Value	$	978		$	1,122		$	876		$	831

(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


	June 30, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	4	$	—	$	382	$	873	$	1,259
2.01% – 4.00%	471		50		—		—		521
Greater than 4.00%	20		—		—		1		21
Total	$	495	$	50	$	382	$	874	$	1,801


	June 30, 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
Up to 2.00%	$	4	$	—	$	410	$	730	$	1,144
2.01% – 4.00%	236		211		37		—		484
Greater than 4.00%	31		—		—		—		31
Total	$	271	$	211	$	447	$	730	$	1,659

Other policyholders' account balances


	June 30, 2023
(in millions of U.S. dollars)	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater Than 150 Basis Points Above		Total
Guaranteed minimum crediting rates
Up to 2.00%	$	430	$	550	$	189	$	235	$	1,404

Greater than 4.00%	10		—		—		—		10
Total	$	440	$	550	$	189	$	235	$	1,414


	June 30, 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
Up to 2.00%	$	120	$	521	$	209	$	236	$	1,086

Greater than 4.00%	4		—		—		—		4
Total	$	124	$	521	$	209	$	236	$	1,090

Market risk benefits (Tables)

6 Months Ended

Jun. 30, 2023

Market Risk Benefit [Abstract]

Market Risk Benefit, Activity

The following table presents a roll-forward of MRB:


	Six Months Ended June 30
(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	37		(356)
Effect of changes in equity markets	(144)		482
Effect of changes in volatilities	31		62



Effect of timing and all other	6		(46)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	706	$	897
Effect of changes in the instrument-specific credit risk	16		17
Balance – end of period	$	722	$	914
Weighted-average age of policyholders (years)	73		73
Net amount at risk	$	2,048	$	2,667

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

June 30, 2023

June 30, 2022

Ranges

Weighted Average(1)

Ranges

Weighted Average(1)

MRB (1)

Actuarial model

Lapse rate

1% – 30%

4.0

%

3% – 31%

4.0

%

Annuitization rate

0% – 100%

4.2

%

0% – 100%

4.4

%

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

Separate accounts (Tables)

6 Months Ended

Jun. 30, 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:


	June 30		December 31
(in millions of U.S. dollars)	2023		2022
Cash and cash equivalents	$	98	$	141

Mutual funds	5,382		4,960

Fixed maturities	94		89

Total	$	5,574	$	5,190

Separate Account, Liability

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


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2023		2022
Balance – beginning of period	$	5,190	$	5,560
Premiums and deposits	517		796
Policy charges	(70)		(60)
Surrenders and withdrawals	(246)		(196)
Benefit payments	(193)		(193)
Investment performance	361		(936)

Other (including foreign exchange)	15		(146)
Balance – end of period	$	5,574	$	4,825
Cash surrender value (1)	$	5,369	$	4,625

(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)

6 Months Ended

Jun. 30, 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:


				June 30, 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)	$	24	$	(131)	$	3,849		$	64		$	(115)	$	4,134
Options/Futures contracts on notes and bonds	OA / (AP)	3		(27)		2,170			18			(24)		1,511
Convertible securities (1)	FM AFS / ES	26		—		32			30			—		37
		$	53	$	(158)	$	6,051		$	112		$	(139)	$	5,682
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	—	$	(32)	$	1,080		$	33		$	—	$	939
Other	OA / (AP)	10		(4)		348			—			—		—
		$	10	$	(36)	$	1,428		$	33		$	—	$	939
Derivatives designated as hedging instruments:
Cross-currency swaps - fair value hedges	OA / (AP)	$	64	$	—	$	1,625		$	17		$	—	$	1,595
Cross-currency swaps - net investment hedges	OA / (AP)	—		(47)		1,625			—			(53)		1,604
		$	64	$	(47)	$	3,250		$	17		$	(53)	$	3,199

(1)Includes fair value of embedded derivatives.

(2)Related to MRB book of business.

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

The following table presents pre-tax gains (losses) recognized in OCI and reclassified into earnings for fair value hedges:


	Three Months Ended		Six Months Ended
	June 30		June 30
(in millions of U.S. dollars)	2023		2023
Gain recognized in OCI	$	57	$	40
Net realized gains reclassified from OCI	11		31
Interest expense reclassified from OCI	(4)		(8)
OCI gain/(loss) after reclassifications	$	50	$	17

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

The following table presents pre-tax gains (losses) recognized in OCI and reclassified into earnings for net investment hedges:


	Three Months Ended		Six Months Ended
	June 30		June 30
(in millions of U.S. dollars)	2023		2023
Gain recognized in OCI	$	35	$	12
Interest income reclassified from OCI	4		7
OCI gain/(loss) after reclassifications	$	31	$	5

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				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(27)	$	(214)	$	(78)	$	(268)

All other futures contracts, options, and equities	(29)		134		(24)		236
Convertible securities (1)	1		(1)		1		(2)

Total investment and embedded derivative instruments	$	(55)	$	(81)	$	(101)	$	(34)
Other derivative instruments:
Futures contracts on equities (2)	$	(75)	$	144	$	(132)	$	186
Other	2		9		1		10
Total other derivative instruments	$	(73)	$	153	$	(131)	$	196
	$	(128)	$	72	$	(232)	$	162

(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

	June 30, 2023		December 31, 2022
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	741	$	820
U.S. Treasury / Agency	89		72
Non-U.S.	663		604
Corporate and asset-backed securities	28		27

Municipal	4		—


	$	1,525	$	1,523
Gross amount of recognized liability for securities lending payable	$	1,525	$	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
	June 30, 2023										December 31, 2022
	Up to 30 Days		30-90 Days		Greater than 90 Days		Total		Up to 30 Days		30-90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	—	$	—	$	2	$	2	$	12	$	—	$	12
U.S. Treasury / Agency	—		—		102		102		—		101		101


Mortgage-backed securities	1		51		1,409		1,461		921		493		1,414
	$	1	$	51	$	1,513	$	1,565	$	933	$	594	$	1,527
Gross amount of recognized liabilities for repurchase agreements							$	1,518					$	1,419
Difference (1)							$	47					$	108

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

Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Dividends Declared

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


	Three Months Ended						Six Months Ended
	June 30						June 30
	2023			2022			2023			2022
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.77	$	0.86	0.80	$	0.83	1.54	$	1.69	1.54	$	1.63

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				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars, except share data)	2023		2022		2023		2022
Number of shares repurchased	3,674,300		5,476,300		5,684,700		10,346,200
Cost of shares repurchased	$	724	$	1,129	$	1,152	$	2,130
Repurchase authorization remaining at end of period (1)	$	—	$	2,500	$	—	$	2,500

(1) As of June 30, 2023, $474 million expired under the May 2022 $2.5 billion share repurchase authorization.

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Three Months Ended				Six Months Ended
	June 30				June 30
	2023		2022		2023		2022
(in millions of U.S. dollars)			As Adjusted				As Adjusted
Accumulated other comprehensive income (loss) (AOCI)
Net unrealized appreciation (depreciation) on investments
Balance – beginning of period, net of tax	$	(5,659)	$	(1,584)	$	(7,279)	$	2,256
Change in period, before reclassification from AOCI (before tax)	(1,301)		(4,786)		305		(9,574)
Amounts reclassified from AOCI (before tax)	107		442		287		578
Change in period, before tax	(1,194)		(4,344)		592		(8,996)
Income tax (expense) benefit	44		215		(122)		1,027
Balance – end of period, net of tax	(6,809)		(5,713)		(6,809)		(5,713)
Current discount rate on liability for future policy benefits
Balance – beginning of period, net of tax	(205)		(997)		(75)		(1,399)
Change in period, before tax	(35)		632		(186)		1,067
Income tax (expense) benefit	(7)		(62)		14		(95)
Balance – end of period, net of tax	(247)		(427)		(247)		(427)
Instrument-specific credit risk on market risk benefits
Balance – beginning of period, net of tax	(27)		(34)		(24)		(57)
Change in period, before and net of tax	11		17		8		40

Balance – end of period, net of tax	(16)		(17)		(16)		(17)
Cumulative foreign currency translation adjustment
Balance – beginning of period, net of tax	(3,136)		(2,043)		(2,966)		(2,114)
Change in period, before reclassification from AOCI (before tax)	219		(756)		45		(689)
Amounts reclassified from AOCI (before tax)	(4)		—		(7)		—
Change in period, before tax	215		(756)		38		(689)
Income tax benefit	1		31		8		35
Balance – end of period, net of tax	(2,920)		(2,768)		(2,920)		(2,768)
Fair value hedging instruments
Balance – beginning of period, net of tax	(92)		—		(66)		—
Change in period, before reclassification from AOCI (before tax)	57		—		40		—
Amounts reclassified from AOCI (before tax)	(7)		—		(23)		—
Change in period, before tax	50		—		17		—
Income tax expense	(11)		—		(4)		—
Balance – end of period, net of tax	(53)		—		(53)		—
Postretirement benefit liability adjustment
Balance – beginning of period, net of tax	224		255		225		240
Change in period, before tax	(2)		5		(2)		24
Income tax (expense) benefit	1		(1)		—		(5)
Balance – end of period, net of tax	223		259		223		259
Accumulated other comprehensive income (loss)	$	(9,822)	$	(8,666)	$	(9,822)	$	(8,666)

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				Six Months Ended				Consolidated Statement of Operations Location
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Fixed maturities available for sale	$	(107)	$	(442)	$	(287)	$	(578)	Net realized gains (losses)
Income tax benefit	16		77		34		99		Income tax expense
	$	(91)	$	(365)	$	(253)	$	(479)	Net income
Cumulative foreign currency translation adjustment
Cross-currency swaps	$	4	$	—	$	7	$	—	Interest expense
Income tax expense	—		—		(1)		—		Income tax expense
	$	4	$	—	$	6	$	—	Net income
Net gains (losses) of fair value hedging instruments
Cross-currency swaps	$	11	$	—	$	31	$	—	Net realized gains (losses)
Cross-currency swaps	(4)		—		(8)		—		Interest expense
Income tax expense	(2)		—		(5)		—		Income tax expense
	$	5	$	—	$	18	$	—	Net income
Total amounts reclassified from AOCI	$	(82)	$	(365)	$	(229)	$	(479)

Postretirement benefits (Tables)

6 Months Ended

Jun. 30, 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 June 30	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		22		6		1		1
Expected return on plan assets	(56)		(13)		(71)		(11)		(1)		(1)
Amortization of net actuarial loss	—		—		—		—		—		—
Amortization of prior service cost	—		—		—		—		—		—

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(22)		(4)		(49)		(5)		—		—
Net periodic benefit cost (benefit)	$	(22)	$	(2)	$	(49)	$	(4)	$	—	$	—


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2023				2022				2023			2022
Six Months Ended June 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost:	$	—	$	4	$	—	$	2		$	—		$	—
Non-service cost (benefit):
Interest cost	68		18		43		12			1			1
Expected return on plan assets	(112)		(25)		(142)		(22)			(2)			(1)
Amortization of net actuarial loss	—		—		—		—			—			—
Amortization of prior service cost	—		—		—		—			—			—
Settlements	—		—		—		—			—			—
Total non-service cost (benefit)	(44)		(7)		(99)		(10)			(1)			—
Net periodic benefit cost (benefit)	$	(44)	$	(3)	$	(99)	$	(8)		$	(1)		$	—

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended June 30	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	(3)		(5)		—		—
Administrative expenses	(23)		(49)		—		—
Total non-service cost (benefit)	(26)		(54)		—		—
Net periodic benefit cost (benefit)	$	(24)	$	(53)	$	—	$	—


	Pension Benefit Plans				Other Postretirement Benefit Plans
Six Months Ended June 30	2023		2022		2023		2022
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	4		2		—		—
Total service cost	4		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(5)		(10)		—		—
Administrative expenses	(46)		(99)		(1)		—
Total non-service cost (benefit)	(51)		(109)		(1)		—
Net periodic benefit cost (benefit)	$	(47)	$	(107)	$	(1)	$	—

Other Income and Expense (Tables)

6 Months Ended

Jun. 30, 2023

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2023		2022		2023		2022
Equity in net income (loss) of partially-owned entities (1)	$	120	$	(72)	$	460	$	291
Gains (losses) from fair value changes in separate account assets (2)	(12)		(18)		(37)		(49)
Federal excise and capital taxes	(6)		(5)		(11)		(9)

Other	(2)		(6)		(16)		(22)
Total	$	100	$	(101)	$	396	$	211

(1) Equity in net income (loss) of partially-owned entities includes mark-to-market gains (losses) on private equities where we own more than three percent of $(3) million and $239 million for the three and six months ended June 30, 2023, respectively, and $(134) million and $121 million, respectively, for the prior year periods. This line item also includes net income of $22 million and $36 million attributable to our investments in Huatai for the three and six months ended June 30, 2023, respectively, compared to $15 million and $55 million, respectively, for the prior year periods.

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

Segment information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:


For the Three Months Ended June 30, 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	$	5,155	$	1,581	$	767	$	2,885	$	293	$	1,270	$	—	$	—	$	11,951
Net premiums earned	4,606		1,357		635		2,908		237		1,256		—		—		10,999
Losses and loss expenses	2,871		846		507		1,267		91		35		61		5		5,683
Policy benefits	—		—		—		137		—		705		—		(12)		830
Policy acquisition costs	614		277		37		746		65		277		—		—		2,016
Administrative expenses	316		84		3		292		9		170		95		—		969
Underwriting income (loss)	805		150		88		466		72		69		(156)		7		1,501
Net investment income	726		86		14		200		48		161		3		(93)		1,145
Other (income) expense	5		(1)		(1)		(10)		—		(26)		14		(81)		(100)
Amortization expense of purchased intangibles	—		3		7		15		—		2		43		—		70
Segment income (loss)	$	1,526	$	234	$	96	$	661	$	120	$	254	$	(210)	$	(5)	$	2,676
Net realized gains (losses)													(309)		5		(304)
Market risk benefits gains (losses)													(7)		—		(7)
Interest expense													165		—		165
Cigna integration expenses													15		—		15
Income tax expense													392		—		392
Net income (loss)													$	(1,098)	$	—	$	1,793


For the Three Months Ended June 30, 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	$	4,665	$	1,426	$	738	$	2,640	$	262	$	562	$	—	$	—	$	10,293
Net premiums earned	4,248		1,271		573		2,696		222		539		—		—		9,549
Losses and loss expenses	2,446		773		478		1,143		139		27		191		9		5,206
Policy benefits	—		—		—		81		—		298		—		(18)		361
Policy acquisition costs	545		258		31		697		57		138		—		—		1,726
Administrative expenses	277		73		2		278		10		88		90		—		818
Underwriting income (loss)	980		167		62		497		16		(12)		(281)		9		1,438
Net investment income (loss)	522		64		7		162		76		109		(4)		(48)		888
Other (income) expense	—		1		—		3		1		(12)		138		(30)		101
Amortization expense of purchased intangibles	—		3		6		14		—		3		45		—		71
Segment income (loss)	$	1,502	$	227	$	63	$	642	$	91	$	106	$	(468)	$	(9)	$	2,154
Net realized gains (losses)													(512)		9		(503)
Market risk benefits gains (losses)													(33)		—		(33)
Interest expense													134		—		134
Cigna integration expenses													3		—		3
Income tax expense													291		—		291
Net income (loss)													$	(1,441)	$	—	$	1,190


For the Six Months Ended June 30, 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	$	9,443	$	2,877	$	1,060	$	6,148	$	570	$	2,563	$	—	$	—	$	22,661
Net premiums earned	8,975		2,677		794		5,694		481		2,520		—		—		21,141
Losses and loss expenses	5,600		1,734		647		2,504		203		67		72		4		10,831
Policy benefits	—		—		—		247		—		1,417		—		(37)		1,627
Policy acquisition costs	1,227		549		52		1,459		127		550		—		—		3,964
Administrative expenses	611		163		6		572		18		337		192		—		1,899
Underwriting income (loss)	1,537		231		89		912		133		149		(264)		33		2,820
Net investment income	1,424		168		31		388		97		314		14		(184)		2,252
Other (income) expense	12		—		—		(19)		(1)		(41)		(200)		(147)		(396)
Amortization expense of purchased intangibles	—		5		13		33		—		6		85		—		142
Segment income (loss)	$	2,949	$	394	$	107	$	1,286	$	231	$	498	$	(135)	$	(4)	$	5,326
Net realized gains (losses)													(385)		4		(381)
Market risk benefits gains (losses)													(122)		—		(122)
Interest expense													325		—		325
Cigna integration expenses													37		—		37
Income tax expense													776		—		776
Net income (loss)													$	(1,780)	$	—	$	3,685


For the Six Months Ended June 30, 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	$	8,704	$	2,606	$	800	$	5,719	$	515	$	1,138	$	—	$	—	$	19,482
Net premiums earned	8,362		2,518		544		5,324		457		1,081		—		—		18,286
Losses and loss expenses	4,943		1,486		386		2,439		254		51		201		10		9,770
Policy benefits	—		—		—		174		—		609		—		(49)		734
Policy acquisition costs	1,118		518		43		1,376		119		271		—		—		3,445
Administrative expenses	542		142		1		547		19		172		173		—		1,596
Underwriting income (loss)	1,759		372		114		788		65		(22)		(374)		39		2,741
Net investment income (loss)	1,011		123		14		309		161		212		(9)		(111)		1,710
Other (income) expense	6		2		—		5		1		(42)		(121)		(62)		(211)
Amortization expense of purchased intangibles	—		5		13		28		—		5		91		—		142
Segment income (loss)	$	2,764	$	488	$	115	$	1,064	$	225	$	227	$	(353)	$	(10)	$	4,520
Net realized gains (losses)													(490)		10		(480)
Market risk benefits gains (losses)													16		—		16
Interest expense													266		—		266
Cigna integration expenses													3		—		3
Income tax expense													644		—		644
Net income (loss)													$	(1,740)	$	—	$	3,143

Earnings per share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended				Six Months Ended
	June 30				June 30
	2023		2022		2023		2022
(in millions of U.S. dollars, except share and per share data)			As Adjusted				As Adjusted
Numerator:
Net income	$	1,793	$	1,190	$	3,685	$	3,143
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	412,487,400		421,624,660		413,383,304		423,703,328
Denominator for diluted earnings per share:
Share-based compensation plans	3,084,476		3,793,686		3,387,233		3,982,116
Weighted-average shares outstanding and assumed conversions	415,571,876		425,418,346		416,770,537		427,685,444
Basic earnings per share	$	4.35	$	2.82	$	8.92	$	7.42
Diluted earnings per share	$	4.32	$	2.80	$	8.84	$	7.35
Potential anti-dilutive share conversions	3,143,311		1,690,893		2,190,304		1,196,180

General and significant accounting policies (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jan. 01, 2021
General and significant accounting policies [Line Items]
Retained earnings	$ 49,467	$ 48,305
Accumulated other comprehensive income (loss) (AOCI)	$ (9,822)	(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

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

Amount of accumulated undistributed earnings (deficit).

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

General and significant account policies (Cash and Cash Equivalents) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash	$ 2,285	$ 2,012
Restricted cash	90	115
Total cash and restricted cash shown in the Consolidated statement of cash flows	$ 2,375	$ 2,127	$ 7,239	$ 1,811

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

3 Months Ended

6 Months Ended

Jan. 01, 2021

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Reinsurance recoverable on losses and loss expenses

^[1]

$ (18,398)

$ (18,859)

^[1]

(315)

(302)

6,666

6,031

(3,575)

(3,702)

(3,599)

(3,136)

(3,542)

(2,507)

(76,480)

$ (73,448)

(76,480)

$ (73,448)

(75,747)

$ (72,330)

(21,860)

(19,713)

$ 7,652

11,064

6,756

11,064

6,756

10,476

722

800

(8,429)

(7,780)

(533)

(377)

Accumulated other comprehensive income (loss) (AOCI)

(49,467)

(48,305)

(9,822)

(10,185)

(11,951)

(10,293)

(22,661)

(19,482)

(10,999)

(9,549)

(21,141)

(18,286)

304

503

381

480

7

33

122

(16)

(5,683)

(5,206)

(10,831)

(9,770)

(830)

(361)

(1,627)

(734)

(2,016)

(1,726)

(3,964)

(3,445)

Income Tax (Expense) Benefit

(100)

101

(396)

(211)

(392)

(291)

(776)

(644)

Current discount rate on future policy benefits

(1,793)

(1,190)

(3,685)

(3,143)

(35)

632

(186)

1,067

Instrument-specific credit risk on market risk benefits

11

17

8

40

Other Comprehensive Income (Loss), Tax

28

183

(104)

962

Comprehensive income (loss)

866

(3,073)

4,048

(4,449)

Net Cash Provided by (Used in) Operating Activities

4,766

5,166

Net Cash Provided by (Used in) Financing Activities

(2,312)

(725)

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

5

0

4

6

Increase (Decrease) in Deferred Income Taxes

^[2]

(120)

72

(460)

(291)

43

108

561

1,949

1,913

1,554

Accounts payable, accrued expenses, and other liabilities

351

99

(388)

67

Reinsurance recoverable

455

(642)

Increase (Decrease) in Deferred Policy Acquisition Costs

(546)

(232)

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

39

(370)

Net cash flows used for investing activities

(2,262)

1,125

Segment Life [Member]

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

(1,270)

(562)

(2,563)

(1,138)

(1,256)

(539)

(2,520)

(1,081)

(35)

(27)

(67)

(51)

(705)

(298)

(1,417)

(609)

(277)

(138)

(550)

(271)

Overseas General Insurance [Member]

(26)

(12)

(41)

(42)

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

(2,885)

(2,640)

(6,148)

(5,719)

(2,908)

(2,696)

(5,694)

(5,324)

(1,267)

(1,143)

(2,504)

(2,439)

(137)

(81)

(247)

(174)

(746)

(697)

(1,459)

(1,376)

Term Life Insurance | Segment Life [Member]

(10)

3

(19)

5

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

356

283

356

283

320

246

454

892

573

892

573

Whole Life Insurance | Segment Life [Member]

(49)

(36)

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

456

336

456

336

395

334

3,767

4,947

3,101

4,947

3,101

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

(11)

(9)

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

1,081

740

1,081

740

902

745

2,569

4,242

2,222

4,242

2,222

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

(63)

(47)

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

Insurance, Other | Segment Life [Member]

773

751

748

751

748

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

118

121

$ 108

89

$ 232

112

232

112

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

$ (10)

(10)

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]

0

(7,795)

(292)

Accumulated other comprehensive income (loss) (AOCI)

(48,334)

(10,193)

(10,302)

(19,501)

(9,557)

(18,303)

504

403

0

(5,408)

(10,195)

(159)

(304)

(1,739)

(3,476)

Income Tax (Expense) Benefit

101

(209)

(293)

(648)

Current discount rate on future policy benefits

(1,215)

(3,189)

0

Instrument-specific credit risk on market risk benefits

0

Other Comprehensive Income (Loss), Tax

(245)

(1,057)

Comprehensive income (loss)

(3,656)

(5,436)

Net Cash Provided by (Used in) Operating Activities

5,160

Net Cash Provided by (Used in) Financing Activities

(719)

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

800

(15)

(85)

Accumulated other comprehensive income (loss) (AOCI)

(52)

(29)

1,800

$ 8

(9)

(19)

(8)

(17)

1

(77)

(33)

16

(202)

(425)

202

430

(13)

(31)

Income Tax (Expense) Benefit

0

(2)

(2)

(4)

Current discount rate on future policy benefits

(25)

(46)

632

1,067

Instrument-specific credit risk on market risk benefits

17

40

Other Comprehensive Income (Loss), Tax

62

95

Comprehensive income (loss)

$ 583

987

Net Cash Provided by (Used in) Operating Activities

6

Net Cash Provided by (Used in) Financing Activities

$ (6)

Liability for Future Policy Benefit, Remeasurement Gain (Loss)

1,587

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

59

^[4]

$ 84

[1]	Net of valuation allowance for uncollectible reinsurance.
[2]	Equity in net income (loss) of partially-owned entities includes mark-to-market gains (losses) on private equities where we own more than three percent of $(3) million and $239 million for the three and six months ended June 30, 2023, respectively, and $(134) million and $121 million, respectively, for the prior year periods. This line item also includes net income of $22 million and $36 million attributable to our investments in Huatai for the three and six months ended June 30, 2023, respectively, compared to $15 million and $55 million, respectively, for the prior year periods.
[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 (Narrative) (Details) - USD ($) $ in Millions			3 Months Ended		6 Months Ended
Acquisitions (Narrative) (Details) - USD ($) $ in Millions	Jul. 01, 2023	Jul. 01, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill			$ 16,322		$ 16,322		$ 16,228
Other intangible assets			5,320		5,320		5,441
Repurchase agreements			1,518		1,518		$ 1,419
Cigna integration expenses			15	$ 3	$ 37	$ 3
Huatai Group
Business Acquisition [Line Items]
Equity method investment, outstanding 16.6 percent agreed on					16.60%
Equity method investment, outstanding 3.0 percent requiring regulatory approval					3.00%
Equity method investment, deposits previously paid					$ 464
Equity Method Investment, Outstanding payment to be made			$ 500		$ 500
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
Repurchase agreements		$ 2,000
Direct ownership \| Huatai Group
Business Acquisition [Line Items]
Equity method investment, additional 7.1 percentage agreed on	5.40%
Equity Method Investment, Ownership Percentage	69.60%		64.20%		64.20%

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

Jun. 30, 2023

Dec. 31, 2022

Jul. 01, 2022

Jun. 30, 2022

Dec. 31, 2021

Jan. 01, 2021

Business Acquisition [Line Items]

Accrued investment income

$ 983

$ 941

Insurance and reinsurance balances receivable

14,128

11,933

Reinsurance recoverable on losses and loss expenses

^[1]

18,398

18,859

^[1]

315

302

3,575

3,702

Other assets

6,490

7,546

Total assets

205,448

199,017

76,480

75,747

$ 73,448

$ 72,330

21,860

19,713

11,064

10,476

6,756

$ 7,652

Accounts payable, accrued expenses, and other liabilities

8,429

7,780

6,864

7,148

Net acquired assets, including goodwill

533

377

Total liabilities

152,573

148,498

52,875

50,519

$ 51,268

Total liabilities and shareholders’ equity

$ 205,448

$ 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

85

Goodwill and intangible assets

3,633

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 liabilities and shareholders’ equity

$ 11,214

[1]	Net of valuation allowance for uncollectible reinsurance.

Acquisitions (Pro forma) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Acquisitions (Pro forma) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Net premiums earned	$ 10,999	$ 9,549	$ 21,141	$ 18,286
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| Pro Forma
Business Acquisition [Line Items]
Net premiums earned		10,299		19,811
Total revenues		10,620		21,037
Net income		$ 1,276		$ 3,335

Investments (Narrative) (Details) - USD ($)	6 Months Ended
Investments (Narrative) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Investments [Line Items]
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Transfer, Amount	$ 8,200,000,000
Debt Securities, Available-for-Sale and Held-to-Maturity, Fair Value	7,800,000,000
Debt Securities, Held-to-Maturity, Transfer, Unrealized Gain (Loss)	428,000,000
Restricted assets in fixed maturities and short-term investments	15,982,000,000	$ 15,721,000,000
Restricted assets in cash	90,000,000	$ 115,000,000
Investments
Investments [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 768,000,000

Investments (Schedule Of Amortized Cost and Fair Value of Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 104,224		$ 93,355
Debt Securities, Available-for-sale, Allowance for Credit Loss	(193)	$ (168)	(169)	$ (78)	$ (27)	$ (14)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	382		174
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(7,624)		(8,140)
Available for sale, Fair Value	96,789		85,220
U.S. Treasury / Agency
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3,942		2,792
Debt Securities, Available-for-sale, Allowance for Credit Loss	0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	6		5
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(204)		(171)
Available for sale, Fair Value	3,744		2,626
Non-U.S.
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	31,513		28,064
Debt Securities, Available-for-sale, Allowance for Credit Loss	(64)		(59)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	267		108
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,014)		(2,205)
Available for sale, Fair Value	29,702		25,908
Corporate and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	43,348		40,547
Debt Securities, Available-for-sale, Allowance for Credit Loss	(127)		(107)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	90		49
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(3,134)		(3,534)
Available for sale, Fair Value	40,177		36,955
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	20,032		17,871
Debt Securities, Available-for-sale, Allowance for Credit Loss	(2)		(3)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	10		4
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(2,068)		(2,021)
Available for sale, Fair Value	17,972		15,851
Municipal
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	5,389		4,081
Debt Securities, Available-for-sale, Allowance for Credit Loss	0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	9		8
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(204)		(209)
Available for sale, Fair Value	$ 5,194		$ 3,880

Investments (Schedule Of Amortized Cost And Fair Value Of Held-to-Maturity Fixed Maturities) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity			$ 8,882
Debt Securities, Held to maturity, Allowance for Credit Loss	$ 0	$ 33	34	$ 34	$ 34	$ 35
Debt securities, held to maturity, net carrying value	0		8,848
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain			3
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss			(412)
Held to maturity, Fair Value	$ 0		8,439
U.S. Treasury / Agency
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity			1,417
Debt Securities, Held to maturity, Allowance for Credit Loss			0
Debt securities, held to maturity, net carrying value			1,417
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain			1
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss			(48)
Held to maturity, Fair Value			1,370
Non-U.S.
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity			1,140
Debt Securities, Held to maturity, Allowance for Credit Loss			4
Debt securities, held to maturity, net carrying value			1,136
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain			0
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss			(82)
Held to maturity, Fair Value			1,054
Corporate and asset-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity			1,733
Debt Securities, Held to maturity, Allowance for Credit Loss			28
Debt securities, held to maturity, net carrying value			1,705
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain			1
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss			(126)
Held to maturity, Fair Value			1,580
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity			1,456
Debt Securities, Held to maturity, Allowance for Credit Loss			1
Debt securities, held to maturity, net carrying value			1,455
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain			0
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss			(104)
Held to maturity, Fair Value			1,351
Municipal
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-Maturity			3,136
Debt Securities, Held to maturity, Allowance for Credit Loss			1
Debt securities, held to maturity, net carrying value			3,135
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain			1
Debt Securities, Held-to-Maturity, Accumulated Unrecognized Loss			(52)
Held to maturity, Fair Value			$ 3,084

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

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Available for sale, Due in 1 year or less, Fair Value & Net Carrying Value	$ 4,355	$ 2,962
Available for sale, Due after 1 year through 5 years, Fair Value & Net Carrying Value	30,067	24,791
Available for sale, Due after 5 years through 10 years, Fair Value & Net Carrying Value	28,491	26,679
Available for sale, Due after 10 years, Fair Value & Net Carrying Value	15,904	14,937
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	78,817	69,369
Available for sale, Mortgage backed securities, Fair Value & Net Carrying Value	17,972	15,851
Available for sale, Fair Value	96,789	85,220
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, within one year, net carrying value	0	1,015
Held to maturity, Due in 1 year or less, Fair Value	0	1,003
Held-to-maturity, after one through five years, net carrying value	0	3,658
Held to maturity, Due after 1 year through 5, Fair Value	0	3,531
Held-to-maturity, after 5 through 10 years, net carrying value	0	1,460
Held to maturity, Due after 5 years through 10 years, Fair Value	0	1,423
Held-to-maturity, after 10 years, net carrying value	0	1,260
Held to maturity, Due after 10 years, Fair Value	0	1,131
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, net carrying value	0	7,393
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value	0	7,088
Held-to-maturity, MBS, net carrying value	0	1,455
Held to maturity, Mortgage backed securities, Fair Value	0	1,351
Debt securities, held to maturity, net carrying value	0	8,848
Held to maturity, Fair Value	$ 0	$ 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	Jun. 30, 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	$ 30,498	$ 57,189
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(986)	(4,115)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	48,552	14,991
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(5,133)	(2,291)
Debt Securities, Available-for-sale, Unrealized Loss Position	79,050	72,180
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(6,119)	(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	1,843	2,152
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(70)	(125)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,779	386
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(134)	(46)
Debt Securities, Available-for-sale, Unrealized Loss Position	3,622	2,538
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(204)	(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	7,895	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	14,825	5,490
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,377)	(704)
Debt Securities, Available-for-sale, Unrealized Loss Position	22,720	21,028
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,620)	(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	11,053	25,687
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(352)	(1,793)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	19,674	4,190
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,718)	(552)
Debt Securities, Available-for-sale, Unrealized Loss Position	30,727	29,877
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(2,070)	(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	6,081	10,561
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(258)	(1,033)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	11,418	4,770
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(1,763)	(941)
Debt Securities, Available-for-sale, Unrealized Loss Position	17,499	15,331
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(2,021)	(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	3,626	3,251
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(63)	(152)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	856	155
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(141)	(48)
Debt Securities, Available-for-sale, Unrealized Loss Position	4,482	3,406
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (204)	$ (200)

Investments (Rollforward of expected credit-losses, AFS) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 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	$ 193	$ 78	$ 193	$ 78	$ 168	$ 169	$ 27	$ 14
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	79	61	138	78
Debt Securities, Available-for-sale, Allowance for Credit Loss, Writeoff	(2)	0	(4)	0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	$ (52)	$ (10)	$ (110)	$ (14)

Investments (Rollforward of expected credit losses HTM) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 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	$ 0	$ 34	$ 0	$ 34	$ 33	$ 34	$ 34	$ 35
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Period Increase (Decrease)	0	1	0	1
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Recovery	$ (33)	$ (1)	$ (34)	$ (2)

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

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

$ 79

$ 61

$ 138

$ 78

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

(107)

(442)

(287)

(578)

Net realized gains (losses)

(304)

(503)

(381)

(480)

Foreign exchange

(186)

270

(55)

344

(128)

72

(232)

162

Fixed Maturities [Member]

(6)

0

(13)

(74)

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

17

362

19

401

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

(113)

(700)

(272)

(827)

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

8

(51)

10

(63)

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

^[1]

(19)

(53)

(44)

(89)

Equity Securities

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

28

(263)

39

(207)

Other Investments

Net realized gains (losses)

20

4

35

59

Investment and embedded derivative instruments

2

9

1

10

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

$ (55)

$ (81)

$ (101)

$ (34)

[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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	$ (304)	$ (503)	$ (381)	$ (480)
Equity Securities
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	28	(263)	39	(207)
Less: Net gains (losses) recognized from sales of securities	2	163	(3)	418
Unrealized Gain (Loss) on Investments	26	(426)	42	(625)
Other Investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	20	4	35	59
Less: Net gains (losses) recognized from sales of securities	0	0	0	0
Unrealized Gain (Loss) on Investments	20	4	35	59
Equity securities and other investments
Gain (Loss) on Securities [Line Items]
Net realized gains (losses)	48	(259)	74	(148)
Less: Net gains (losses) recognized from sales of securities	2	163	(3)	418
Unrealized Gain (Loss) on Investments	$ 46	$ (422)	$ 77	$ (566)

Investments Entities that Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2023	Sep. 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	$ 6,221		$ 7,395
Alternative Investment	13,288		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	428		505
Alternative Investment	1,177		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	560		681
Alternative Investment	2,149		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	620		755
Alternative Investment	1,141		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	316		429
Alternative Investment	304		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	4,297		5,025
Alternative Investment	8,068		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	50		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	$ 399		$ 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	Jun. 30, 2023	Dec. 31, 2022
Investments [Line Items]
Total restricted assets	$ 16,072	$ 15,836
Asset Pledged as Collateral without Right
Investments [Line Items]
Trust funds	8,194	8,120
Deposits with U.S. regulatory authorities	2,337	2,345
Deposits with non-U.S. regulatory authorities	3,115	2,959
Assets pledged under repurchase agreements	1,565	1,527
Other pledged assets	$ 861	$ 885

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

Jun. 30, 2023

Dec. 31, 2022

$ 96,789

$ 85,220

1,043

827

4,097

4,960

14,707

13,696

1,525

1,523

5,574

5,190

Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value

722

800

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

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

13,288

12,355

Policy Loans

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

389

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]

3,744

2,626

Non-U.S.

Corporate and asset-backed securities

29,702

25,908

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

Mortgage-backed securities

40,177

36,955

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

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

17,972

15,851

Municipal

Level 1 | Fair Value, Recurring

5,194

3,880

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

3,121

2,100

957

737

2,335

3,108

542

^[1]

552

^[2]

0

27

82

0

10

33

5,480

5,101

12,472

^[1]

11,713

^[2]

158

139

0

32

0

^[3]

0

^[4]

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

190

139

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

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

3,121

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]

90,485

80,096

0

1,759

1,849

441

^[1]

399

^[2]

1,525

1,523

0

64

17

0

94

89

94,368

^[1]

83,973

^[2]

0

47

53

4

0

^[3]

0

^[4]

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

51

53

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

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

623

526

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

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

29,053

25,344

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

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

37,653

34,506

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

Level 2 | Municipal | Fair Value, Recurring

17,962

15,840

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

Level 3 | Fair Value, Recurring

5,194

3,880

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

3,183

3,024

86

90

3

0

^[1]

0

^[2]

0

0

0

0

0

3,272

^[1]

3,117

^[2]

0

0

0

722

^[3]

800

^[4]

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

722

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

649

564

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

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

2,524

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]

96,789

85,220

1,043

827

4,097

4,960

983

^[1]

951

^[2]

1,525

1,523

27

82

64

17

10

33

5,574

5,190

110,112

^[1]

98,803

^[2]

158

139

47

53

36

722

^[3]

800

^[4]

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

963

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

3,744

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

29,702

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

40,177

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

17,972

15,851

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

Reinsurance recoverable on unpaid losses and loss expenses

$ 5,194

$ 3,880

[1]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $13,288 million, policy loans of $389 million, and other investments of $47 million at June 30, 2023, measured using NAV as a practical expedient.
[2]	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.
[3]	Refer to Note 11 for additional information on Market risk benefits.
[4]	Refer to Note 11 for additional information on Market risk benefits.

Fair value measurements (Assets, Measured At Fair Value Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 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 Tax	Other Comprehensive Income (Loss), before Tax	Other Comprehensive Income (Loss), before Tax	Other Comprehensive Income (Loss), before Tax
Fair Value, Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues		Revenues	Revenues
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Revenues	Revenues	Revenues
Level 3 \| Equity Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	$ 88	$ 82	$ 90	$ 77
Transfers Into Level 3, Asset	0	0	0	1
Transfers out of Level 3, Assets	0	0	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	0	0	0
Net Realized Gains/ (Losses), Assets	(2)		(6)	4
Purchases, Assets	4	0	11	3
Sales, Assets	(4)	(1)	(9)	(4)
Settlements, Assets	0	0	0	0
Balance-End of Period, Assets	86	81	86	81
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	(3)	(1)	(6)	3
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	0	0	0	0
Level 3 \| Short-term Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance- Beginning of Period, Assets	7	4	3	7
Transfers Into Level 3, Asset	0	0	0	0
Transfers out of Level 3, Assets	0	0	0	0
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	0	(1)	0
Net Realized Gains/ (Losses), Assets	0		0	0
Purchases, Assets	(2)	5	3	7
Sales, Assets	(2)	0	(2)	0
Settlements, Assets	0	0	0	(5)
Balance-End of Period, Assets	3	9	3	9
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	1	0	0	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	561	618	564	633
Transfers Into Level 3, Asset	21	5	21	23
Transfers out of Level 3, Assets	0	0	0	(23)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	15	(41)	11	(54)
Net Realized Gains/ (Losses), Assets	(1)		(1)	(2)
Purchases, Assets	62	26	105	69
Sales, Assets	(4)	(19)	(35)	(25)
Settlements, Assets	(5)	(40)	(16)	(72)
Balance-End of Period, Assets	649	549	649	549
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0	0	(2)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	15	(41)	9	(54)
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	2,544	2,229	2,449	2,049
Transfers Into Level 3, Asset	3	10	3	39
Transfers out of Level 3, Assets	(2)	(43)	(13)	(93)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	4	(30)	2	(52)
Net Realized Gains/ (Losses), Assets	(5)		(3)	0
Purchases, Assets	118	179	323	494
Sales, Assets	(10)	(24)	(30)	(51)
Settlements, Assets	(128)	(60)	(207)	(125)
Balance-End of Period, Assets	2,524	2,261	2,524	2,261
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	(6)	(1)	(2)	(1)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	3	(30)	(2)	(52)
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	10	20	11	26
Transfers Into Level 3, Asset	0	0	0	0
Transfers out of Level 3, Assets	0		0	(5)
Change in Net Unrealized Gains (Losses) included in OCI, Assets	0	0	0	0
Net Realized Gains/ (Losses), Assets	0		0	0
Purchases, Assets	0	0	0	0
Sales, Assets	0	0	0	0
Settlements, Assets	0	(1)	(1)	(2)
Balance-End of Period, Assets	10	19	10	19
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date, Assets	0	0	0	0
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet Date, Assets	$ 0	$ 0	$ 0	$ 0

Fair value measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value	$ 0	$ 8,439
Debt Securities, Held-to-maturity		8,882
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,518	1,419
Short-term debt	699	475
Long-term debt	13,782	14,402
Total liabilities	152,573	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		1,299
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-Term Debt, Fair Value	0	0
Long-term Debt, Fair Value	0	0
Trust preferred securities	0	0
Total liabilities	0	0
Portion at Other than Fair Value Measurement \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value		7,140
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,518	1,419
Short-Term Debt, Fair Value	686	473
Long-term Debt, Fair Value	12,133	12,495
Trust preferred securities	369	383
Total liabilities	14,706	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
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-Term Debt, Fair Value	0	0
Long-term Debt, Fair Value	0	0
Trust preferred securities	0	0
Total liabilities	0	0
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		8,439
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,518	1,419
Short-Term Debt, Fair Value	686	473
Long-term Debt, Fair Value	12,133	12,495
Trust preferred securities	369	383
Total liabilities	14,706	14,770
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity		8,848
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,518	1,419
Short-term debt	699	475
Long-term debt	13,782	14,402
Trust preferred securities	308	308
Total liabilities	$ 16,307	16,604
U.S. Treasury / Agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value		1,370
Debt Securities, Held-to-maturity		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		1,299
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		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
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		1,370
U.S. Treasury / Agency \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity		1,417
Non-U.S.
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value		1,054
Debt Securities, Held-to-maturity		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
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		1,054
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
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		1,054
Non-U.S. \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity		1,136
Corporate and asset-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value		1,580
Debt Securities, Held-to-maturity		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
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		1,580
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
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		1,580
Corporate and asset-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity		1,705
Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value		1,351
Debt Securities, Held-to-maturity		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
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		1,351
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
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		1,351
Mortgage-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity		1,455
Municipal
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Fixed maturities, held-to-maturity, fair value		3,084
Debt Securities, Held-to-maturity		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
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		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
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		3,084
Municipal \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity		$ 3,135

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

Jun. 30, 2023

Dec. 31, 2022

Jun. 30, 2022

Dec. 31, 2021

Reinsurance Disclosures [Abstract]

^[1]

$ 16,608

$ 17,086

$ 16,504

$ 16,132

Reinsurance recoverable on paid losses and loss expenses

^[1]

1,790

1,773

Reinsurance recoverable on losses and loss expenses

^[1]

18,398

18,859

Reinsurance Recoverables on Unpaid Losses, Allowance

^[1]

315

302

306

289

Reinsurance Recoverables on Paid Losses, Allowance

55

62

Reinsurance Recoverable, Allowance for Credit Loss, Total

361

351

$ 341

$ 329

Reinsurance Recoverables on Future Policy Benefits, Allowance

$ 1

$ 4

[1]	Net of valuation allowance for uncollectible reinsurance.

Reinsurance, Allowance (Details) - USD ($) $ in Millions	6 Months Ended
Reinsurance, Allowance (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022
Reinsurance Disclosures [Abstract]
Valuation allowance for uncollectible reinsurance - beginning of period	$ 351	$ 329
Provision for uncollectible reinsurance	15	17
Write-offs charged against the valuation allowance	(6)	(4)
Foreign exchange revaluation	(1)	(1)
Valuation allowance for uncollectible reinsurance - end of period	$ 361	$ 341

Deferred acquisition costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	$ 6,666		$ 6,666
Balance – beginning of period			6,031
Amortization expense	(2,016)	$ (1,726)	(3,964)	$ (3,445)
Balance - end of period	6,666		6,666
Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(277)	(138)	(550)	(271)
Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Amortization expense	(746)	(697)	(1,459)	(1,376)
Short-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	3,201	2,876	3,201	2,876
Balance - end of period	3,201	2,876	3,201	2,876
Long-Duration Insurance, Other
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	3,465	2,929	3,465	2,929
Balance - end of period	3,465	2,929	3,465	2,929
Long-Duration Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	2,814	2,242	2,814	2,242
Balance – beginning of period			2,514	2,204
Capitalizations			444	228
Amortization expense			(171)	(139)
Other (including foreign exchange)			27	(51)
Balance - end of period	2,814	2,242	2,814	2,242
Long-Duration Insurance, Other \| Overseas General Insurance [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	651	687	651	687
Balance - end of period	651	687	651	687
Term Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	356	283	356	283
Balance – beginning of period			320	246
Capitalizations			75	72
Amortization expense			(49)	(36)
Other (including foreign exchange)			10	1
Balance - end of period	356	283	356	283
Universal Life \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	803	765	803	765
Balance – beginning of period			776	771
Capitalizations			54	58
Amortization expense			(38)	(37)
Other (including foreign exchange)			11	(27)
Balance - end of period	803	765	803	765
Whole Life Insurance \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	456	336	456	336
Balance – beginning of period			395	334
Capitalizations			62	19
Amortization expense			(11)	(9)
Other (including foreign exchange)			10	(8)
Balance - end of period	456	336	456	336
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	1,081	740	1,081	740
Balance – beginning of period			902	745
Capitalizations			246	50
Amortization expense			(63)	(47)
Other (including foreign exchange)			(4)	(8)
Balance - end of period	1,081	740	1,081	740
Insurance, Other \| Segment Life [Member]
Deferred Policy Acquisition Cost [Line Items]
Deferred Policy Acquisition Cost	118	118	118	118
Balance – beginning of period			121	108
Capitalizations			7	29
Amortization expense			(10)	(10)
Other (including foreign exchange)			0	(9)
Balance - end of period	$ 118	$ 118	$ 118	$ 118

Goodwill and Value of business acquired (Roll-forward of Goodwill by Business Segment) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 16,228
Foreign exchange revaluation and other	94
Balance at end of period	16,322
North America Commercial P&C Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	6,945
Foreign exchange revaluation and other	10
Balance at end of period	6,955
North America Personal P&C Insurance [Member]
Goodwill [Roll Forward]
Balance at beginning of period	2,230
Foreign exchange revaluation and other	4
Balance at end of period	2,234
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	139
Balance at end of period	4,744
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	(59)
Balance at end of period	$ 1,884

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.

Balance, beginning of period

Goodwill and Value of business acquired (VOBA) (Details)
$ in Millions

6 Months Ended

Jun. 30, 2023

USD ($)

VOBA Roll Forward

$ 3,702

Amortization of Value of Business Acquired (VOBA)

162

^[1]

Foreign exchange revaluation and other

35

Balance, end of period

$ 3,575

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

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

6 Months Ended

Jun. 30, 2023

Jun. 30, 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

11,227

10,391

Prior Year Claims and Claims Adjustment Expense

^[2]

(396)

(621)

Total, Incurred

10,831

9,770

Net loss and loss expenses paid, Current Year

2,264

1,881

Net loss and loss expenses paid, Prior Years

7,527

6,566

Total, Paid

9,791

8,447

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

171

(577)

Net unpaid losses and loss expenses – end of period

59,872

56,944

Reinsurance recoverable on unpaid losses (1)

^[1]

16,608

16,504

Gross unpaid losses and loss expenses – end of period

76,480

73,448

prior period development, net adjustments

0

$ 134

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

733

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

$ 1,200

[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 $0 million and $134 million for the six months ended June 30, 2023 and 2022, respectively.

Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (200)	$ (247)	$ (396)	$ (487)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(146)	(287)	(218)	(395)
North America Commercial P&C Insurance [Member] \| Auto Liability [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	119	123	125	116
North America Commercial P&C Insurance [Member] \| General Liability [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(132)		(136)
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				(78)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(33)	(3)	(16)	(54)
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(3)	0	(3)	(26)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(61)	(173)	(204)	(233)
Overseas General Insurance [Member] \| Property, Liability and Casualty Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	61
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			110
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(17)	25	(25)	22
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			70	199
Corporate Segment [Member] \| Other [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	60		70
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(128)	(165)	(343)	(393)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(7)	(21)	(88)	(109)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(33)	(3)	(16)	(54)
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(3)	0	(3)	(26)
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(61)	(173)	(204)	(233)
Short Tail [Member] \| Overseas General Insurance [Member] \| Accident and Health Insurance Product Line [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		173		233
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(24)	32	(32)	29
Short Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(72)	(82)	(53)	(94)
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(139)	(266)	(130)	(286)
Long Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Long Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Long Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Long Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	7	(7)	7	(7)
Long Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 60	$ 191	$ 70	199
Long Tail [Member] \| Corporate Segment [Member] \| Other [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				$ 155

Unpaid losses and loss expenses Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (200)	$ (247)	$ (396)	$ (487)
Unpaid losses and loss expenses	76,480	73,448	76,480	73,448	$ 75,747	$ 72,330
Net loss and loss expenses paid, Prior Years			7,527	6,566
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease), Gross			733
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(72)	(82)	(53)	(94)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(128)	(165)	(343)	(393)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(146)	(287)	(218)	(395)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(139)	(266)	(130)	(286)
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(7)	(21)	(88)	(109)
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				(78)
North America Commercial P&C Insurance [Member] \| Workers' Compensation Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(264)	(286)	(308)	(328)
North America Agricultural Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(3)	0	(3)	(26)
North America Agricultural Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
North America Agricultural Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(3)	0	(3)	(26)
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			70	199
Corporate Segment [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	60	191	70	199
Corporate Segment [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Corporate Segment [Member] \| Other [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	60		70
Corporate Segment [Member] \| Other [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				155
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(61)	(173)	(204)	(233)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(61)	(173)	(204)	(233)
Overseas General Insurance [Member] \| Accident and Health Insurance Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		173		233
Overseas General Insurance [Member] \| Property, Liability and Casualty Insurance Product Line
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	61
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			110
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(33)	(3)	(16)	(54)
North America Personal P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
North America Personal P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(33)	(3)	(16)	(54)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(17)	25	(25)	22
Global Reinsurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	7	(7)	7	(7)
Global Reinsurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (24)	$ 32	$ (32)	$ 29

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

6 Months Ended

Jun. 30, 2023

Jun. 30, 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

(756)

(2)

(46)

(112)

12,883

3,877

786

206

299

124

^[1]

(921)

(263)

(157)

(60)

13,204

3,884

(424)

(155)

12,780

3,729

21,920

10,775

23,052

9,402

Effect of actual variances from expected experience

(762)

4

(36)

(112)

22,254

9,294

785

209

440

209

(927)

(306)

299

158

22,851

9,248

(784)

(203)

22,067

9,045

10,038

6,064

Net liability for future policy benefits, per consolidated balance sheet

1,026

692

11,064

6,756

10,476

$ 7,652

Less: Reinsurance recoverable on future policy benefits

315

242

Net liability for future policy benefits, after reinsurance recoverable

$ 10,749

$ 6,514

Term Life Insurance | Segment Life [Member]

16 years 4 months 24 days

14 years 1 month 6 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 818

$ 422

879

397

Effect of actual variances from expected experience

15

0

(4)

(27)

890

370

62

66

37

31

^[1]

(86)

(51)

(17)

(12)

920

404

(56)

(24)

864

380

1,427

921

1,555

858

Effect of actual variances from expected experience

17

(5)

(3)

(25)

1,569

828

62

69

43

35

(84)

(44)

71

32

1,661

856

(130)

(68)

1,531

788

667

408

Net liability for future policy benefits, per consolidated balance sheet

225

165

892

573

454

Less: Reinsurance recoverable on future policy benefits

110

108

Net liability for future policy benefits, after reinsurance recoverable

$ 782

$ 465

Whole Life Insurance | Segment Life [Member]

9 years 3 months 18 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 2,301

$ 1,341

2,354

1,243

Effect of actual variances from expected experience

(1)

(2)

(7)

(11)

2,346

1,230

157

71

35

21

^[1]

(171)

(80)

(23)

(30)

2,390

1,212

(21)

(27)

2,369

1,185

6,048

4,785

6,225

3,833

Effect of actual variances from expected experience

(1)

(2)

(3)

(9)

6,221

3,822

158

71

105

74

(130)

(95)

400

77

6,754

3,795

(76)

76

6,678

3,871

4,309

2,686

Net liability for future policy benefits, per consolidated balance sheet

638

415

4,947

3,101

3,767

Less: Reinsurance recoverable on future policy benefits

41

33

Net liability for future policy benefits, after reinsurance recoverable

$ 4,906

$ 3,068

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

25 years

19 years 6 months

Liability for Future Policy Benefit, Activity [Line Items]

$ 9,863

$ 2,520

10,409

2,323

Effect of actual variances from expected experience

(771)

0

(35)

(75)

9,603

2,248

564

67

226

72

^[1]

(654)

(127)

(118)

(17)

9,857

2,243

(347)

(104)

9,510

2,139

14,206

4,939

15,022

4,589

Effect of actual variances from expected experience

(780)

0

(30)

(79)

14,212

4,510

562

67

289

100

(708)

(167)

(178)

49

14,177

4,461

(574)

(204)

13,603

4,257

4,093

2,118

Net liability for future policy benefits, per consolidated balance sheet

149

104

4,242

2,222

2,569

Less: Reinsurance recoverable on future policy benefits

126

58

Net liability for future policy benefits, after reinsurance recoverable

$ 4,116

$ 2,164

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

10 years 7 months 6 days

10 years 3 months 18 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 751

$ 748

Net liability for future policy benefits, per consolidated balance sheet

0

751

748

773

Less: Reinsurance recoverable on future policy benefits

38

43

Net liability for future policy benefits, after reinsurance recoverable

$ 713

$ 705

Insurance, Other | Segment Life [Member]

4 years 9 months 18 days

5 years 2 months 12 days

Liability for Future Policy Benefit, Activity [Line Items]

$ 42

$ 30

43

28

Effect of actual variances from expected experience

1

0

0

1

44

29

3

2

1

0

^[1]

(10)

(5)

1

(1)

37

25

0

37

25

239

130

250

122

Effect of actual variances from expected experience

2

11

$ 0

$ 1

252

134

3

2

3

0

(5)

0

6

0

259

136

(4)

(7)

255

129

218

104

Net liability for future policy benefits, per consolidated balance sheet

14

8

232

112

$ 89

Less: Reinsurance recoverable on future policy benefits

0

Net liability for future policy benefits, after reinsurance recoverable

$ 232

$ 112

Policyholder Account Balance [Line Items]

14 years

27 years 6 months

[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	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Discounted expected future benefit payments	$ 22,067	$ 21,920	$ 9,045	$ 10,775
Term Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	2,381		1,266
Undiscounted expected future gross premiums	2,701		1,382
Discounted expected future benefit payments	1,531	1,427	788	921
Discounted expected future gross premiums	1,805		1,045
Whole Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	16,890		9,799
Undiscounted expected future gross premiums	6,971		3,457
Discounted expected future benefit payments	6,678	6,048	3,871	4,785
Discounted expected future gross premiums	5,455		2,499
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	22,461		5,903
Undiscounted expected future gross premiums	33,371		8,752
Discounted expected future benefit payments	13,603	14,206	4,257	4,939
Discounted expected future gross premiums	20,339		5,683
Insurance, Other \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Undiscounted expected future benefit payments	374		216
Undiscounted expected future gross premiums	94		72
Discounted expected future benefit payments	255	$ 239	129	$ 130
Discounted expected future gross premiums	$ 84		$ 64

Future policy benefits (Premiums & interest) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	$ 3,035	$ 1,717
Interest Accretion	141	85
Term Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	339	172
Interest Accretion	6	4
Whole Life Insurance \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	487	173
Interest Accretion	70	53
Accident and Health Insurance Product Line [Member] \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	1,409	533
Interest Accretion	63	28
Accident and Health Insurance Product Line [Member] \| Overseas General Insurance [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	768	705
Interest Accretion	0	0
Insurance, Other \| Segment Life [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums or Assessments	32	134
Interest Accretion	$ 2	$ 0

Future policy benefits (Weighted average interest rates) (Details) - Segment Life [Member]	Jun. 30, 2023	Jun. 30, 2022
Term Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	2.90%	2.40%
Current Discount Rate	5.80%	4.90%
Whole Life Insurance
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	4.00%	4.40%
Current Discount Rate	5.30%	6.00%
Accident and Health Insurance Product Line [Member]
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.80%	3.90%
Current Discount Rate	6.30%	5.00%
Insurance, Other
Liability for Future Policy Benefit, Activity [Line Items]
Interest Accretion Rate	3.80%	3.30%
Current Discount Rate	5.10%	4.40%

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

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Policyholder Account Balance, Beginning Balance

$ 3,140

$ 2,766

Policyholder Account Balance, Premium Received

228

253

Policyholder Account Balance, Policy Charge

^[1]

(94)

(97)

Policyholder Account Balance, Surrender and Withdrawal

(76)

(72)

Policyholder Account Balance, Benefit Payment

(26)

(14)

Policyholder Account Balance, Interest Expense

37

38

Policyholder Account Balance, Increase (Decrease) from Other Change

6

125

Policyholder Account Balance, Ending Balance

3,215

2,749

Universal Life

Policyholder Account Balance [Line Items]

Policyholder Account Balance, Beginning Balance

1,719

1,612

Policyholder Account Balance, Premium Received

175

195

Policyholder Account Balance, Policy Charge

^[1]

(89)

(92)

Policyholder Account Balance, Surrender and Withdrawal

(41)

(37)

Policyholder Account Balance, Benefit Payment

(4)

(3)

Policyholder Account Balance, Interest Expense

22

20

Policyholder Account Balance, Increase (Decrease) from Other Change

19

36

Policyholder Account Balance, Ending Balance

$ 1,801

$ 1,659

Policyholder Account Balance, Weighted Average Crediting Rate

3.80%

3.50%

Policyholder Account Balance, Net Amount at Risk

^[2]

$ 10,405

$ 10,041

Policyholder Account Balance, Cash Surrender Value

978

876

Insurance, Other

Policyholder Account Balance [Line Items]

Policyholder Account Balance, Beginning Balance

1,421

1,154

Policyholder Account Balance, Premium Received

53

58

Policyholder Account Balance, Policy Charge

^[1]

(5)

Policyholder Account Balance, Surrender and Withdrawal

(35)

Policyholder Account Balance, Benefit Payment

(22)

(11)

Policyholder Account Balance, Interest Expense

15

18

Policyholder Account Balance, Increase (Decrease) from Other Change

(13)

89

Policyholder Account Balance, Ending Balance

$ 1,414

$ 1,090

Policyholder Account Balance, Weighted Average Crediting Rate

2.20%

3.10%

Policyholder Account Balance, Net Amount at Risk

^[2]

$ 1,447

$ 507

Policyholder Account Balance, Cash Surrender Value

$ 1,122

$ 831

[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	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 3,215	$ 3,140	$ 2,749	$ 2,766
Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,801	1,719	1,659	1,612
Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	495		271
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	50		211
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	382		447
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	874		730
Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,414	1,421	1,090	$ 1,154
Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	440		124
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	550		521
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	189		209
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	235		236
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	1,259		1,144
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	4		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	382		410
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	873		730
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	1,404		1,086
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	430		120
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	550		521
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	189		209
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	235		236
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	521		484
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	471		236
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	50		211
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		37
Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400 \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0		$ 0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	21	31
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	20	31
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Universal Life \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1	0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	10	4
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, at Guaranteed Minimum Crediting Rate
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	10	4
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0001 to 0050
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0051 to 0150
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater \| Insurance, Other \| Policyholder Account Balance, above Guaranteed Minimum Crediting Rate, Range from 0151 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 0	$ 0
Minimum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.01%
Minimum \| Policyholder Account Balance, Guaranteed Minimum Crediting Rate, Range from 0400 and Greater
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0000 to 0200
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	2.00%
Maximum \| Policyholder account balance, guaranteed minimum credit rating, range from 0201 to 0400
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	4.00%

Market risk benefits (MRB Roll-Forward) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jan. 01, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Market Risk Benefit [Line Items]
Market Risk Benefit, Liability, beginning of period				$ 800
Market Risk Benefit, Liability, end of period		$ 722		722
Market risk benefits gains (losses)		(7)	$ (33)	(122)	$ 16
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				37	(356)
Effect of changes in equity markets				(144)	482
Effect of changes in volatilities				31	62
Effect of timing and all other				6	(46)
Balance, end of period, before effect of changes in the instrument-specific credit risk		706	897	706	897
Effect of changes in the instrument-specific credit risk		16	17	16	17
Market Risk Benefit, Liability, end of period		722	914	$ 722	$ 914
Market risk benefit, weighted-average age of policyholders (age)				73 years	73 years
Market Risk Benefit, Net Amount at Risk		$ 2,048	$ 2,667	$ 2,048	$ 2,667
Market Risk Benefits Other Gains (Losses)				$ (192)	$ 158

Market Risk Benefits (MRB Valuation) (Details)

6 Months Ended

Jun. 30, 2023

Jun. 30, 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%

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%

Weighted Average

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

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

^[1]

4.00%

Significant Unobservable Inputs Annuitization Rate

^[1]

4.20%

4.40%

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

Separate accounts (Fair Value of Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 5,574	$ 5,190
Separate Account, Cash and Cash Equivalents
Fair Value, Separate Account Investment [Line Items]
Separate account assets	98	141
Separate Account, equity securities and mutual funds
Fair Value, Separate Account Investment [Line Items]
Separate account assets	5,382	4,960
Separate Account, Non-U.S. Government Treasuries
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 94	$ 89

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

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Separate Account, Liability, Surrender and Withdrawal [Abstract]

Separate Account, Liability, Beginning Balance

$ 5,190

$ 5,560

Separate Account, Liability, Premium and Deposit

517

796

Separate Account, Liability, Policy Charge

(70)

(60)

Separate Account, Liability, Surrender and Withdrawal

(246)

(196)

Separate Account, Liability, Benefit Payment

(193)

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

361

(936)

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

15

(146)

Separate Account, Liability, Ending Balance

5,574

4,825

Separate Account, Liability, Cash Surrender Value, Amount

^[1]

$ 5,369

$ 4,625

[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	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative liability subject to a master netting agreement	$ 139		$ 60
Hedged Liability, Fair Value Hedge	1,600	€ 1,500
Repurchase agreements	1,518		1,419
Purchase Commitment, Remaining Minimum Amount Committed	892		770
Carrying value of limited partnerships and partially-owned investment companies included in other investments	12,900		12,000
Funding commitments relating to limited partnerships and partially-owned investment companies	6,200		7,400
Unrecognized tax benefits	61
Operating Lease, Right-of-Use Asset	543		607
Operating Lease, Liability	$ 575		$ 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

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

Jun. 30, 2023

Dec. 31, 2022

Foreign currency forward contracts

Options/Futures contracts on notes and bonds

$ 3,849

$ 4,134

2,170

1,511

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

32

37

53

112

(158)

(139)

Futures contracts on equities

6,051

5,682

Other Derivatives [Member]

^[2]

1,080

939

Other Derivative Instruments [Member]

348

0

Designated as Hedging Instrument

1,428

939

64

17

(47)

53

3,250

3,199

Fair Value Hedging

1,625

1,595

Net Investment Hedging

Other Assets [Member] | Foreign currency forward contracts

1,625

1,604

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

24

64

Other Assets [Member] | Futures contracts on equities

3

18

Other Assets [Member] | Other Derivatives [Member]

^[2]

0

33

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

10

0

Other Assets [Member] | Fair Value Hedging

10

33

Other Assets [Member] | Net Investment Hedging

64

17

Fixed Maturities [Member] | Convertible securities

0

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

^[1]

26

30

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

(131)

(115)

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

(27)

(24)

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

^[2]

(32)

0

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

(4)

0

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

(36)

0

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

0

Equity Securities | Convertible securities

(47)

(53)

^[1]

$ 0

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

Commitment, Contingencies, And Guarantees (Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Interest expense reclassified from OCI	$ 165	$ 134	$ 325	$ 266
Other comprehensive income (loss), before income tax	(955)	$ (4,446)	467	$ (8,554)
Fair Value Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain recognized in OCI	57		40
Net realized gains reclassified from OCI	11		31
Interest expense reclassified from OCI	(4)		(8)
Other comprehensive income (loss), before income tax	$ 50		$ 17

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

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

Commitments, Contingencies, And Guarantees (Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Other comprehensive income (loss), before income tax	$ (955)	$ (4,446)	$ 467	$ (8,554)
Net Investment Hedging
Financial Instruments Owned and Pledged as Collateral [Line Items]
Gain recognized in OCI	35		12
Interest income reclassified from OCI	4		7
Other comprehensive income (loss), before income tax	$ 31		$ 5

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

Derivative Instruments, Gain (Loss) [Line Items]

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Foreign currency forward contracts

$ (128)

$ 72

$ (232)

$ 162

Derivative Instruments, Gain (Loss) [Line Items]

All Other Futures Contracts, Options and equities [Member]

(27)

(214)

(78)

(268)

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

(29)

134

(24)

236

Convertible securities

Investment And Embedded Derivative Instruments [Member]

^[1]

1

(1)

1

(2)

Derivative Instruments, Gain (Loss) [Line Items]

Futures contracts on equities

(55)

(81)

(101)

(34)

Derivative Instruments, Gain (Loss) [Line Items]

Other Derivatives [Member]

^[2]

(75)

144

(132)

186

Derivative Instruments, Gain (Loss) [Line Items]

Guaranteed Living Benefit And Other Derivative Instruments [Member]

2

9

1

10

Derivative Instruments, Gain (Loss) [Line Items]

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

$ (73)

$ 153

$ (131)

$ 196

[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	Jun. 30, 2023	Dec. 31, 2022
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 1,525	$ 1,523
Securities lending payable	1,525	1,523
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	741	820
U.S. Treasury / Agency \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	89	72
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	663	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	28	27
Municipal \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 4	$ 0

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

Jun. 30, 2023

Dec. 31, 2022

Repurchase agreements

$ 1,518

$ 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

1,565

1,527

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

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

2

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]

1,461

1,414

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

Secured Borrowings, Gross, Difference, Amount

^[1]

47

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

1

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

0

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

1

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

51

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

0

101

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

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

51

$ 493

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

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

1,513

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

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

2

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

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

102

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

July 2021 Stock Repurchase Plan

$ 1,409

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

Shareholders' equity (Details)				6 Months Ended
Shareholders' equity (Details)	May 22, 2023 shares	Aug. 04, 2022 shares	Jan. 17, 2022 shares	Jun. 30, 2023 SFr / shares shares	May 17, 2023 $ / shares	Dec. 31, 2022 SFr / shares shares	May 19, 2022 $ / shares	May 20, 2021 $ / shares
Stockholders' Equity Note [Abstract]
Common Shares, par value \| SFr / shares				SFr 0.50		SFr 24.15
Treasury Stock, Shares, Retired	14,925,028	13,179,100	14,465,400	14,925,028
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures				1,781,198
Common Stock, Dividend Rate Approved \| $ / shares					$ 0.86		$ 0.83	$ 0.80
Annual dividend per share approved by shareholders \| $ / shares					3.44		3.32	3.20
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividend Rate Approved \| $ / shares					$ 0.86		$ 0.83	$ 0.80
Treasury Stock, Shares, Retired	14,925,028	13,179,100	14,465,400	14,925,028
Treasury Stock, Common, Shares				20,760,232		31,781,758
Common Shares, par value \| SFr / shares				SFr 0.50		SFr 24.15

Shareholders' equity Dividends Declared (Details)	3 Months Ended				6 Months Ended
Shareholders' equity Dividends Declared (Details)	Jun. 30, 2023 SFr / shares	Jun. 30, 2023 $ / shares	Jun. 30, 2022 SFr / shares	Jun. 30, 2022 $ / shares	Jun. 30, 2023 SFr / shares	Jun. 30, 2023 $ / shares	Jun. 30, 2022 SFr / shares	Jun. 30, 2022 $ / shares
United States of America, Dollars
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| $ / shares		$ 0.86		$ 0.83		$ 1.69		$ 1.63
Switzerland, Francs
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| SFr / shares	SFr 0.77		SFr 0.80		SFr 1.54		SFr 1.54

Shareholders' equity Share Repurchases (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Jul. 01, 2023

May 19, 2022

Jul. 19, 2021

Equity, Class of Treasury Stock [Line Items]

Stock Repurchase Program, Authorized Amount

$ 5,000

Number of shares repurchased

5,476,300

10,346,200

Cost of shares repurchased

$ 1,129

$ 2,130

Repurchase authorization remaining at end of period (1)

$ 2,500

May 2022 Stock Repurchase Plan

Equity, Class of Treasury Stock [Line Items]

Stock Repurchase Program, Authorized Amount

$ 2,500

Number of shares repurchased

3,674,300

5,684,700

Cost of shares repurchased

$ 724

$ 1,152

Repurchase authorization remaining at end of period (1)

^[1]

0

CB_Stock Repurchase Program_Authorized Repurchase_Expired Amount

$ 474

July 2023 Stock Repurchase Plan

Equity, Class of Treasury Stock [Line Items]

Stock Repurchase Program, Authorized Amount

$ 5,000

[1]	As of June 30, 2023, $474 million expired under the May 2022 $2.5 billion share repurchase authorization.

Shareholders' equity AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Shareholders' equity AOCI (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
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	$ 52,875	$ 51,268	52,875	$ 51,268
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(5,659)	(1,584)	(7,279)	2,256
OCI, before Reclassifications, before Tax, Attributable to Parent	(1,301)	(4,786)	305	(9,574)
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	107	442	287	578
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(1,194)	(4,344)	592	(8,996)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	44	215	(122)	1,027
Balance – end of period, net of tax	(6,809)	(5,713)	(6,809)	(5,713)
AOCI, Liability for Future Policy Benefit, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(205)	(997)	(75)	(1,399)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(35)	632	(186)	1,067
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	(7)	(62)	14	(95)
Balance – end of period, net of tax	(247)	(427)	(247)	(427)
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(27)	(34)	(24)	(57)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	11	17	8	40
Balance – end of period, net of tax	(16)	(17)	(16)	(17)
Cumulative Foreign Currency Translation Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(3,136)	(2,043)	(2,966)	(2,114)
OCI, before Reclassifications, before Tax, Attributable to Parent	219	(756)	45	(689)
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(4)	0	(7)	0
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	215	(756)	38	(689)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	1	31	8	35
Balance – end of period, net of tax	(2,920)	(2,768)	(2,920)	(2,768)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(92)	0	(66)	0
OCI, before Reclassifications, before Tax, Attributable to Parent	57	0	40	0
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	(7)	0	(23)	0
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	50	0	17	0
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	(11)	0	(4)	0
Balance – end of period, net of tax	(53)	0	(53)	0
Postretirement Benefit Liability Adjustment [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	224	255	225	240
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(2)	5	(2)	24
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	1	(1)	0	(5)
Balance – end of period, net of tax	223	259	223	259
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance – beginning of period, net of tax	(8,895)	(4,403)	(10,185)	(1,074)
Balance – end of period, net of tax	$ (9,822)	$ (8,666)	$ (9,822)	$ (8,666)

Shareholders' equity AOCI Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Equity, Class of Treasury Stock [Line Items]
Interest expense	$ 165	$ 134	$ 325	$ 266
Income Tax (Expense) Benefit	(392)	(291)	(776)	(644)
Net income (loss)	1,793	1,190	3,685	3,143
Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Net income (loss)	(82)	(365)	(229)	(479)
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	(107)	(442)	(287)	(578)
Income Tax (Expense) Benefit	16	77	(34)	(99)
Net income (loss)	(91)	(365)	(253)	(479)
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	11	0	31	0
Interest expense	(4)	0	(8)	0
Income Tax (Expense) Benefit	(2)	0	5	0
Net income (loss)	5	0	18	0
Cumulative Foreign Currency Translation Adjustment [Member] \| Reclassification out of Accumulated Other Comprehensive Income
Equity, Class of Treasury Stock [Line Items]
Interest expense	4	0	7	0
Income Tax (Expense) Benefit	0	0	1	0
Net income (loss)	$ 4	$ 0	$ 6	$ 0

Share-Based Compensation (Detail) - $ / shares		6 Months Ended
Share-Based Compensation (Detail) - $ / shares	Feb. 23, 2023	Jun. 30, 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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 2	$ 1	$ 4	$ 2
Non-service (benefit) cost	(26)	(54)	(51)	(109)
Net periodic benefit cost (benefit)	(24)	(53)	(47)	(107)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Interest cost	1	1	1	1
Expected return on plan assets	(1)	(1)	(2)	(1)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	0
Amortization of prior service cost	0	0	0	0
Settlements	0	0	0	0
Non-service (benefit) cost	0	0	(1)	0
Net periodic benefit cost (benefit)	0	0	(1)	0
Losses and loss expenses \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Non-service (benefit) cost	(3)	(5)	(5)	(10)
Losses and loss expenses \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Non-service (benefit) cost	0	0	0	0
Administrative Expense \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	1	4	2
Non-service (benefit) cost	(23)	(49)	(46)	(99)
Administrative Expense \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Non-service (benefit) cost	0	0	(1)	0
Foreign Plan [Member] \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	1	4	2
Interest cost	9	6	18	12
Expected return on plan assets	(13)	(11)	(25)	(22)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	0
Amortization of prior service cost	0	0	0	0
Settlements	0	0	0	0
Non-service (benefit) cost	(4)	(5)	(7)	(10)
Net periodic benefit cost (benefit)	(2)	(4)	(3)	(8)
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Interest cost	34	22	68	43
Expected return on plan assets	(56)	(71)	(112)	(142)
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	0
Amortization of prior service cost	0	0	0	0
Settlements	0	0	0	0
Non-service (benefit) cost	(22)	(49)	(44)	(99)
Net periodic benefit cost (benefit)	$ (22)	$ (49)	$ (44)	$ (99)

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

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

^[1]

$ 120

$ (72)

$ 460

$ 291

^[2]

(12)

(18)

(37)

(49)

Federal excise and capital taxes

(6)

(5)

(11)

(9)

Partially-owned Investment Companies

(2)

(6)

(16)

(22)

Total

100

(101)

396

211

Unrealized Gain (Loss) on Investments

(3)

(134)

239

121

Huatai Group

$ 22

$ 15

$ 36

$ 55

[1]

Equity in net income (loss) of partially-owned entities includes mark-to-market gains (losses) on private equities where we own more than three percent of $(3) million and $239 million for the three and six months ended June 30, 2023, respectively, and $(134) million and $121 million, respectively, for the prior year periods. This line item also includes net income of $22 million and $36 million attributable to our investments in Huatai for the three and six months ended June 30, 2023, respectively, compared to $15 million and $55 million, respectively, for the prior year periods.

[2]

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

Segment information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Segment information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net premiums written	$ 11,951	$ 10,293	$ 22,661	$ 19,482
Net premiums earned	10,999	9,549	21,141	18,286
Losses and loss expenses	5,683	5,206	10,831	9,770
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	830	361	1,627	734
Policy acquisition costs	2,016	1,726	3,964	3,445
Administrative expenses	969	818	1,899	1,596
Underwriting income (loss)	1,501	1,438	2,820	2,741
Net investment income (loss)	1,145	888	2,252	1,710
Other (income) expense	(100)	101	(396)	(211)
Amortization of purchased intangibles	70	71	142	142
Segment Income (loss)	2,676	2,154	5,326	4,520
Net realized gains (losses)	(304)	(503)	(381)	(480)
Market risk benefits gains (losses)	(7)	(33)	(122)	16
Interest Income (Expense), Net	165	134	325	266
Cigna integration expenses	15	3	37	3
Income tax expense	392	291	776	644
Net income	1,793	1,190	3,685	3,143
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Losses and loss expenses	5	9	4	10
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	(12)	(18)	(37)	(49)
Policy acquisition costs	0	0	0	0
Administrative expenses	0	0	0	0
Underwriting income (loss)	7	9	33	39
Net investment income (loss)	(93)	(48)	(184)	(111)
Other (income) expense	(81)	(30)	(147)	(62)
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	(5)	(9)	(4)	(10)
Net realized gains (losses)	5	9	4	10
Market risk benefits gains (losses)	0	0	0	0
Interest Income (Expense), Net	0	0	0	0
Cigna integration expenses	0	0	0	0
Income tax expense	0	0	0	0
Net income	0	0	0	0
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written		4,665		8,704
Net premiums earned		4,248		8,362
Losses and loss expenses		2,446		4,943
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)		0		0
Policy acquisition costs		545		1,118
Administrative expenses		277		542
Underwriting income (loss)		980		1,759
Net investment income (loss)		522		1,011
Other (income) expense		0		6
Amortization of purchased intangibles		0		0
Segment Income (loss)		1,502		2,764
North America Personal P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written		1,426		2,606
Net premiums earned		1,271		2,518
Losses and loss expenses		773		1,486
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)		0		0
Policy acquisition costs		258		518
Administrative expenses		73		142
Underwriting income (loss)		167		372
Net investment income (loss)		64		123
Other (income) expense		1		2
Amortization of purchased intangibles		3		5
Segment Income (loss)		227		488
North America Agricultural Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	767	738	1,060	800
Net premiums earned	635	573	794	544
Losses and loss expenses	507	478	647	386
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	0	0	0	0
Policy acquisition costs	37	31	52	43
Administrative expenses	3	2	6	1
Underwriting income (loss)	88	62	89	114
Net investment income (loss)	14	7	31	14
Other (income) expense	(1)	0	0	0
Amortization of purchased intangibles	7	6	13	13
Segment Income (loss)	96	63	107	115
Overseas General Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	2,885	2,640	6,148	5,719
Net premiums earned	2,908	2,696	5,694	5,324
Losses and loss expenses	1,267	1,143	2,504	2,439
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	137	81	247	174
Policy acquisition costs	746	697	1,459	1,376
Administrative expenses	292	278	572	547
Underwriting income (loss)	466	497	912	788
Net investment income (loss)	200	162	388	309
Other (income) expense	(10)	3	(19)	5
Amortization of purchased intangibles	15	14	33	28
Segment Income (loss)	661	642	1,286	1,064
Global Reinsurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	293	262	570	515
Net premiums earned	237	222	481	457
Losses and loss expenses	91	139	203	254
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	0	0	0	0
Policy acquisition costs	65	57	127	119
Administrative expenses	9	10	18	19
Underwriting income (loss)	72	16	133	65
Net investment income (loss)	48	76	97	161
Other (income) expense	0	1	(1)	1
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	120	91	231	225
Life Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,270	562	2,563	1,138
Net premiums earned	1,256	539	2,520	1,081
Losses and loss expenses	35	27	67	51
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	705	298	1,417	609
Policy acquisition costs	277	138	550	271
Administrative expenses	170	88	337	172
Underwriting income (loss)	69	(12)	149	(22)
Net investment income (loss)	161	109	314	212
Other (income) expense	(26)	(12)	(41)	(42)
Amortization of purchased intangibles	2	3	6	5
Segment Income (loss)	254	106	498	227
Segment Corporate and Other
Segment Reporting Information [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Losses and loss expenses	61	191	72	201
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	0	0	0	0
Policy acquisition costs	0	0	0	0
Administrative expenses	95	90	192	173
Underwriting income (loss)	(156)	(281)	(264)	(374)
Net investment income (loss)	3	(4)	14	(9)
Other (income) expense	14	138	(200)	(121)
Amortization of purchased intangibles	43	45	85	91
Segment Income (loss)	(210)	(468)	(135)	(353)
Net realized gains (losses)	(309)	(512)	(385)	(490)
Market risk benefits gains (losses)	(7)	(33)	(122)	16
Interest Income (Expense), Net	165	134	325	266
Cigna integration expenses	15	3	37	3
Income tax expense	392	291	776	644
Net income	(1,098)	$ (1,441)	(1,780)	$ (1,740)
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	5,155		9,443
Net premiums earned	4,606		8,975
Losses and loss expenses	2,871		5,600
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	0		0
Policy acquisition costs	614		1,227
Administrative expenses	316		611
Underwriting income (loss)	805		1,537
Net investment income (loss)	726		1,424
Other (income) expense	5		12
Amortization of purchased intangibles	0		0
Segment Income (loss)	1,526		2,949
Segment Insurance North American Personal P&C
Segment Reporting Information [Line Items]
Net premiums written	1,581		2,877
Net premiums earned	1,357		2,677
Losses and loss expenses	846		1,734
Policy benefits (includes remeasurement losses of $5, nil, $4, and $6)	0		0
Policy acquisition costs	277		549
Administrative expenses	84		163
Underwriting income (loss)	150		231
Net investment income (loss)	86		168
Other (income) expense	(1)		0
Amortization of purchased intangibles	3		5
Segment Income (loss)	$ 234		$ 394

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 1,793	$ 1,190	$ 3,685	$ 3,143
Weighted-average shares outstanding	412,487,400	421,624,660	413,383,304	423,703,328
Share-based compensation plans	3,084,476	3,793,686	3,387,233	3,982,116
Weighted-average shares outstanding and assumed conversions	415,571,876	425,418,346	416,770,537	427,685,444
Basic earnings (loss) per share (US$ per share)	$ 4.35	$ 2.82	$ 8.92	$ 7.42
Diluted earnings (loss) per share (US$ per share)	$ 4.32	$ 2.80	$ 8.84	$ 7.35
Potential anti-dilutive share conversions	3,143,311	1,690,893	2,190,304	1,196,180

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
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SX 210.5-03(25))
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
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