Short-term investments, at fair value (amortized cost – $3,433 and $3,147)

2,649

4,782

3,431

3,146

12,168

11,169

Total investments

109,849

122,323

Cash

7,122

^[1]

1,659

Restricted cash

117

152

Accrued investment income

1,658

1,831

829

821

Insurance and reinsurance balances receivable, net of valuation allowance - $50 and $46

12,758

11,322

Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $341 and $329

^[2]

17,777

17,366

Reinsurance recoverable on policy benefits

^[2]

205

213

Deferred policy acquisition costs

5,602

5,513

Value of business acquired

221

236

Goodwill

15,045

15,213

Other intangible assets

5,272

5,455

Deferred tax assets

564

0

Prepaid reinsurance premiums

3,356

3,028

Investments in partially-owned insurance companies

3,002

3,130

Other assets

12,274

11,792

Total assets

195,651

200,054

Liabilities

Unpaid losses and loss expenses

74,092

72,943

Unearned premiums

20,386

19,101

Future policy benefits

5,940

5,947

Insurance and reinsurance balances payable

7,888

7,243

Securities lending payable

1,658

1,831

Accounts payable, accrued expenses, and other liabilities

14,516

15,004

Deferred tax liabilities

0

389

Repurchase agreements

3,411

1,406

Short-term debt

1,474

999

Long-term debt

14,311

15,169

Trust preferred securities

308

Total liabilities

143,984

140,340

Commitments and contingencies (refer to Note 7)

Shareholders’ equity

Common Shares (CHF 24.15 par value; 459,555,714 and 474,021,114 shares issued; 418,474,087 and 426,572,612 shares outstanding)

10,666

10,985

Common Shares in treasury (41,081,627 and 47,448,502 shares)

(6,794)

(7,464)

Additional paid-in capital

7,707

8,478

Retained earnings

48,363

47,365

Accumulated other comprehensive income (loss) (AOCI)

(8,275)

350

Total shareholders’ equity

51,667

59,714

Total liabilities and shareholders’ equity

$ 195,651

$ 200,054

[1]	On July 1, 2022, we paid $5.36 billion for the acquisition of Cigna's life and non-life insurance companies in six Asia-Pacific markets. Refer to Note 2 for additional information
[2]	Net of valuation allowance for uncollectible reinsurance.

Consolidated Balance Sheets (Parentheticals) (Unaudited) $ in Millions	Jun. 30, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Statement of Financial Position [Abstract]
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 78	$ 14
Available for sale, at amortized cost	88,516	90,493
Debt Securities, Held-to-maturity, Allowance for Credit Loss	34	35
Held to maturity, Fair Value	9,333	10,647
short-term investments amortized cost	3,433	3,147
Premium Receivable, Allowance for Credit Loss	50	46
Reinsurance Recoverable, Allowance for Credit Loss	$ 341	$ 329
Common Shares, shares issued \| shares	459,555,714	474,021,114
Common Shares, shares outstanding \| shares	418,474,087	426,572,612
Common Shares in treasury, shares \| shares	41,081,627	47,448,502

Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Net premiums written	$ 10,302	$ 9,546	$ 19,501	$ 18,208
Increase in unearned premiums	(745)	(733)	(1,198)	(1,174)
Net premiums earned	9,557	8,813	18,303	17,034
Net investment income	888	884	1,710	1,747
Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI)	(504)	(33)	(403)	854
Total revenues	9,941	9,664	19,610	19,635
Expenses
Losses and loss expenses	5,408	5,006	10,195	10,059
Policy benefits	159	185	304	352
Policy acquisition costs	1,739	1,698	3,476	3,363
Administrative expenses	818	775	1,596	1,519
Interest expense	134	122	266	244
Other (income) expense	101	(777)	(209)	(1,267)
Amortization of purchased intangibles	71	73	142	145
Cigna integration expenses	3	0	3	0
Total expenses	8,433	7,082	15,773	14,415
Income before income tax	1,508	2,582	3,837	5,220
Income tax expense (includes $(77), $(6), $(99), and $(2) on unrealized gains and losses reclassified from AOCI)	293	317	648	655
Net income	1,215	2,265	3,189	4,565
Other comprehensive income (loss)
Unrealized appreciation (depreciation)	(4,786)	706	(9,574)	(1,587)
Reclassification adjustment for net realized (gains) losses included in net income	442	(12)	578	(36)
Unrealized appreciation (depreciation) after reclassification adjustment	(4,344)	694	(8,996)	(1,623)
Change in:
Cumulative foreign currency translation adjustment	(777)	308	(710)	330
Postretirement benefit liability adjustment	5	(9)	24	(37)
Other comprehensive income (loss), before income tax	(5,116)	993	(9,682)	(1,330)
Income tax (expense) benefit related to OCI items	245	(129)	1,057	283
Other comprehensive income (loss)	(4,871)	864	(8,625)	(1,047)
Comprehensive income (loss)	$ (3,656)	$ 3,129	$ (5,436)	$ 3,518
Earnings per share
Basic earnings per share	$ 2.88	$ 5.09	$ 7.53	$ 10.20
Diluted earnings per share	$ 2.86	$ 5.06	$ 7.46	$ 10.13

Consolidated Statements of Operations and Comprehensive Income (Parentheticals) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Income Tax Expense on Unrealized Gains and Losses Reclassified from AOCI	$ (77)	$ (6)	$ (99)	$ (2)
Net Realized Gains (Losses) Reclassified from AOCI	$ (442)	$ 12	$ (578)	$ 36

Consolidated Statements Of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Common shares in treasury [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]	Cumulative Foreign Currency Translation Adjustment [Member]	Postretirement Benefit Liability Adjustment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance - beginning of period at Dec. 31, 2020		$ 11,064	$ (3,644)	$ 9,815	$ 39,337	$ 4,673	$ (1,637)	$ (167)
Common Shares repurchased			(2,440)
Treasury Stock, Retired, Cost Method, Amount		0	0		0
Net shares redeemed under employee share-based compensation plans			312	(182)
Exercise of stock options				(30)
Share-based compensation expense				147
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(704)
Net income (loss)	$ 4,565				4,565
Funding of dividends declared from Additional paid-in capital					704
Dividends declared on Common Shares					(704)
Change in period, before reclassification from AOCI, net of income tax (expense) benefit of $292, $(107), $1,126, and $294						(1,293)
Amounts reclassified from AOCI, net of income tax expense of $(77), $(6), $(99), and $(2)						(38)
Change in period, net of income tax (expense) benefit of $215, $(113), $1,027, and $292						(1,331)
Change in period, net of income tax (expense) benefit of $31, $(18), $35, and $(16)							314
Change in period, net of income tax (expense) benefit of $(1), $2, $(5), and $7								(30)
Balance - end of period at Jun. 30, 2021	60,062	11,064	(5,772)	9,046	43,902	3,342	(1,323)	(197)	$ 1,822
Balance - beginning of period at Mar. 31, 2021		11,064	(3,901)	9,318	41,637	2,761	(1,613)	(190)
Common Shares repurchased			(1,921)
Treasury Stock, Retired, Cost Method, Amount		0	0		0
Net shares redeemed under employee share-based compensation plans			50	5
Exercise of stock options				(6)
Share-based compensation expense				81
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(352)
Net income (loss)	2,265				2,265
Funding of dividends declared from Additional paid-in capital					352
Dividends declared on Common Shares					(352)
Change in period, before reclassification from AOCI, net of income tax (expense) benefit of $292, $(107), $1,126, and $294						599
Amounts reclassified from AOCI, net of income tax expense of $(77), $(6), $(99), and $(2)						(18)
Change in period, net of income tax (expense) benefit of $215, $(113), $1,027, and $292						581
Change in period, net of income tax (expense) benefit of $31, $(18), $35, and $(16)							290
Change in period, net of income tax (expense) benefit of $(1), $2, $(5), and $7								(7)
Balance - end of period at Jun. 30, 2021	60,062	11,064	(5,772)	9,046	43,902	3,342	(1,323)	(197)	1,822
Balance - beginning of period at Dec. 31, 2021	59,714	10,985	(7,464)	8,478	47,365	2,256	(2,146)	240
Common Shares repurchased			(2,130)
Treasury Stock, Retired, Cost Method, Amount		(319)	2,510		(2,191)
Net shares redeemed under employee share-based compensation plans			290	(195)
Exercise of stock options				(27)
Share-based compensation expense				139
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(688)
Net income (loss)	3,189				3,189
Funding of dividends declared from Additional paid-in capital					688
Dividends declared on Common Shares					(688)
Change in period, before reclassification from AOCI, net of income tax (expense) benefit of $292, $(107), $1,126, and $294						(8,448)
Amounts reclassified from AOCI, net of income tax expense of $(77), $(6), $(99), and $(2)						479
Change in period, net of income tax (expense) benefit of $215, $(113), $1,027, and $292						(7,969)
Change in period, net of income tax (expense) benefit of $31, $(18), $35, and $(16)							(675)
Change in period, net of income tax (expense) benefit of $(1), $2, $(5), and $7								19
Balance - end of period at Jun. 30, 2022	51,667	10,666	(6,794)	7,707	48,363	(5,713)	(2,821)	259	(8,275)
Balance - beginning of period at Mar. 31, 2022		10,666	(5,700)	7,988	47,148	(1,584)	(2,075)	255
Common Shares repurchased			(1,129)
Treasury Stock, Retired, Cost Method, Amount		0	0		0
Net shares redeemed under employee share-based compensation plans			35	4
Exercise of stock options				(6)
Share-based compensation expense				69
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(348)
Net income (loss)	1,215				1,215
Funding of dividends declared from Additional paid-in capital					348
Dividends declared on Common Shares					(348)
Change in period, before reclassification from AOCI, net of income tax (expense) benefit of $292, $(107), $1,126, and $294						(4,494)
Amounts reclassified from AOCI, net of income tax expense of $(77), $(6), $(99), and $(2)						365
Change in period, net of income tax (expense) benefit of $215, $(113), $1,027, and $292						(4,129)
Change in period, net of income tax (expense) benefit of $31, $(18), $35, and $(16)							(746)
Change in period, net of income tax (expense) benefit of $(1), $2, $(5), and $7								4
Balance - end of period at Jun. 30, 2022	$ 51,667	$ 10,666	$ (6,794)	$ 7,707	$ 48,363	$ (5,713)	$ (2,821)	$ 259	$ (8,275)

Consolidated Statement of Shareholders' Equity (Parentheticals) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
OCI, Debt Securities, Available-for-Sale, Gain (Loss), before Adjustment, Tax	$ 292	$ (107)	$ 1,126	$ 294
Income Tax Expense on Unrealized Gains and Losses Reclassified from AOCI	(77)	(6)	(99)	(2)
Other Comprehensive Income (Loss), Securities, Available-for-sale, Tax	215	(113)	1,027	292
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	31	(18)	35	(16)
Pension liability adjustment, Change in period, income tax (expense) benefit	$ (1)	$ 2	$ (5)	$ 7

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

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Cash flows from operating activities

Net income (loss)

$ 3,189

$ 4,565

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

Net realized (gains) losses

403

(854)

Amortization of premiums/discounts on fixed maturities

148

147

Amortization of purchased intangibles

142

145

Equity in net income of partially-owned entities

^[1]

(290)

(1,271)

Deferred income taxes

110

(28)

Unpaid losses and loss expenses

1,980

2,165

Unearned premiums

1,584

1,533

Future policy benefits

59

110

Insurance and reinsurance balances payable

670

796

Accounts payable, accrued expenses, and other liabilities

110

(630)

Income taxes payable

(83)

50

Insurance and reinsurance balances receivable

(1,560)

(1,180)

Reinsurance recoverable

(650)

(47)

Deferred policy acquisition costs

(204)

(198)

Net cash flows from operating activities

(448)

(76)

5,160

5,227

Cash flows from investing activities

Purchases of fixed maturities available for sale

(13,474)

(15,217)

Purchases of fixed maturities held to maturity

(380)

(211)

Purchases of equity securities

(664)

(642)

Sales of fixed maturities available for sale

8,053

3,469

Sales of equity securities

2,445

614

Maturities and redemptions of fixed maturities available for sale

5,753

9,410

Maturities and redemptions of fixed maturities held to maturity

820

1,163

Net change in short-term investments

(340)

(120)

Net derivative instruments settlements

117

(87)

Private equity contribution

(1,287)

(873)

Private equity distribution

448

640

Payment, including deposit, for Huatai Group Interest

(113)

(65)

Net cash flows used for investing activities

(253)

(106)

1,125

(2,025)

Cash flows from financing activities

Dividends paid on Common Shares

(681)

(703)

Common Shares repurchased

(2,127)

(2,440)

Proceeds from issuance of repurchase agreements

3,002

550

Repayment of repurchase agreements

(1,000)

(550)

Proceeds from share-based compensation plans

170

178

Policyholder contract deposits and other

238

268

Policyholder contract withdrawals and other

(223)

(245)

Payment, Tax Withholding, Share-based Payment Arrangement

(98)

(80)

Net cash flows used for financing activities

(719)

(3,022)

Effect of foreign currency rate changes on cash and restricted cash

(138)

(18)

Net increase (decrease) in cash and restricted cash

5,428

162

Cash and restricted cash - beginning of period

1,811

1,836

Cash and restricted cash - end of period

7,239

1,998

Supplemental cash flow information

Taxes paid

612

631

Interest paid

$ 290

$ 271

[1]

Equity in net income (loss) of partially-owned entities principally comprises market-to-market gain (loss) on private equities where we own more than three percent of $(134) million and $121 million for the three and six months ended June 30, 2022, respectively, and $674 million and $1,074 million, respectively, for the prior year periods. This line item also includes net income of $15 million and $55 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and six months ended June 30, 2022, respectively, compared to $49 million and $98 million, respectively, for the prior year periods.

General

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

General

a) Basis of presentation

Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 12 for additional information.

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

The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2021 Form 10-K.

b) Restricted cash

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

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


	June 30		December 31
(in millions of U.S. dollars)	2022		2021
Cash (1)	$	7,122	$	1,659
Restricted cash	117		152
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	7,239	$	1,811

(1)On July 1, 2022, we paid $5.36 billion for the acquisition of Cigna's life and non-life insurance companies in six Asia-Pacific markets. Refer to Note 2 for additional information.

c) Goodwill

During the six months ended June 30, 2022, Goodwill decreased $168 million, primarily reflecting the impact of foreign exchange.

d) Accounting guidance not yet adopted

Targeted Improvements to the Accounting for Long-Duration Contracts

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

Acquisitions	6 Months Ended
Acquisitions	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions	Acquisitions Cigna’s Life and Accident and Health (A&H) Insurance Business in Asia-Pacific Markets On July 1, 2022, we completed the acquisition of the life and non-life insurance companies that house the personal accident, supplemental health, and life insurance business of Cigna in six Asia-Pacific markets. Chubb paid $5.36 billion in cash for the operations, which include Cigna's accident and health (A&H) and life business in Korea, Taiwan, New Zealand, Thailand, Hong Kong, and Indonesia. The reduction in the final purchase price from the original agreement reflects the impacts of rising interest rates and foreign exchange rates on acquired book value and other minor adjustments. This complementary strategic acquisition expands our presence and advances our long-term growth opportunity in the Asia-Pacific region. Effective July 1, 2022, the results of operations of this acquired business will be reported primarily in our Life Insurance segment and, to a lesser extent, our Overseas General Insurance segment. Huatai Group Chubb maintains a direct investment in Huatai Insurance Group Co., Ltd. (Huatai Group). Huatai Group is the parent company of, and owns 100 percent of, Huatai Property & Casualty Insurance Co., Ltd. (Huatai P&C), approximately 80 percent of Huatai Life Insurance Co., Ltd. (Huatai Life), and approximately 82 percent of Huatai Asset Management Co., Ltd. (collectively, Huatai). Huatai Group's insurance operations have more than 600 branches and approximately 19 million customers in China. As of June 30, 2022, Chubb's aggregate ownership interest in Huatai Group was approximately 47.3 percent. Chubb applies the equity method of accounting to its investment in Huatai Group by recording its share of net income or loss in Other (income) expense in the Consolidated statements of operations. During 2021, Chubb entered into agreements with several counterparties to purchase incremental ownership interests in Huatai Group totaling approximately 31.8 percent for approximately $2.2 billion. In connection with these agreements, Chubb paid approximately $1.1 billion in deposits. In January 2022, we paid $113 million relating to these agreements. Chubb entered into an agreement to acquire an approximate 7.1 percent ownership interest in Huatai Group for approximately $0.5 billion, which was paid as a deposit in 2020. The purchase of the additional ownership interests is contingent upon important conditions. As Chubb’s ownership interest increases, we will continue to evaluate the appropriateness of consolidation accounting in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 810, Consolidation, and other applicable regulations.

Investments

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Investments

3. Investments

a) Fixed maturities


June 30, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,248	$	—	$	9	$	(80)	$	2,177
Non-U.S.	24,646		(32)		164		(1,961)		22,817
Corporate and asset-backed securities	38,166		(45)		59		(3,133)		35,047
Mortgage-backed securities	18,654		(1)		10		(1,328)		17,335
Municipal	4,802		—		18		(127)		4,693
	$	88,516	$	(78)	$	260	$	(6,629)	$	82,069
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,298	$	—	$	1,298	$	4	$	(29)	$	1,273
Non-U.S.	1,112		(4)		1,108		2		(39)		1,071
Corporate and asset-backed securities	1,844		(28)		1,816		3		(73)		1,746
Mortgage-backed securities	1,651		(1)		1,650		1		(53)		1,598
Municipal	3,661		(1)		3,660		8		(23)		3,645
	$	9,566	$	(34)	$	9,532	$	18	$	(217)	$	9,333


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

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

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


	June 30, 2022				December 31, 2021
(in millions of U.S. dollars, except for percentages)	Amortized cost		% of Total		Amortized cost		% of Total
AAA	$	1,883	20	%	$	2,089	21	%
AA	5,273		55	%	5,303		52	%
A	1,740		18	%	1,964		19	%
BBB	647		7	%	773		8	%
BB	23		—	%	23		—	%
Other	—		—	%	1		—	%
Total	$	9,566	100	%	$	10,153	100	%

The following table presents fixed maturities by contractual maturity:


	June 30, 2022				December 31, 2021
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available for sale
Due in 1 year or less	$	4,086	$	4,086	$	4,498	$	4,498
Due after 1 year through 5 years	23,265		23,265		25,542		25,542
Due after 5 years through 10 years	25,273		25,273		28,207		28,207
Due after 10 years	12,110		12,110		14,372		14,372
	64,734		64,734		72,619		72,619
Mortgage-backed securities	17,335		17,335		20,489		20,489
	$	82,069	$	82,069	$	93,108	$	93,108
Held to maturity
Due in 1 year or less	$	925	$	921	$	888	$	894
Due after 1 year through 5 years	3,660		3,605		3,744		3,846
Due after 5 years through 10 years	1,844		1,823		2,242		2,349
Due after 10 years	1,453		1,386		1,514		1,755
	7,882		7,735		8,388		8,844
Mortgage-backed securities	1,650		1,598		1,730		1,803
	$	9,532	$	9,333	$	10,118	$	10,647

Expected maturities could differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties.

b) Gross unrealized loss

Fixed maturities in an unrealized loss position at June 30, 2022 and December 31, 2021 comprised both investment grade and below investment grade securities for which fair value declined, principally due to rising interest rates since the date of purchase. Refer to Note 3 in the 2021 Form 10-K for further information on factors considered in the evaluation of expected credit losses.

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


	0 – 12 Months				Over 12 Months				Total
June 30, 2022	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency	$	1,707	$	(70)	$	95	$	(10)	$	1,802	$	(80)
Non-U.S.	15,832		(1,331)		2,578		(334)		18,410		(1,665)
Corporate and asset-backed securities	27,714		(2,346)		1,395		(204)		29,109		(2,550)
Mortgage-backed securities	15,048		(1,140)		1,294		(187)		16,342		(1,327)
Municipal	2,643		(117)		10		(2)		2,653		(119)
Total AFS fixed maturities	$	62,944	$	(5,004)	$	5,372	$	(737)	$	68,316	$	(5,741)


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

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

During the three months ended June 30, 2022, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $485 million necessary due to limitations on the utilization of these losses. As part of evaluating whether it was more likely than not that we could realize these losses, we considered realized gains, carryback capacity and available tax planning strategies.

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	27	$	15	$	14	$	20

Provision for expected credit loss	61		1		78		5



Recovery of expected credit loss	(10)		(5)		(14)		(14)
Valuation allowance for expected credit losses - end of period	$	78	$	11	$	78	$	11
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	43	$	35	$	44

Provision for expected credit loss	1		—		1		—


Recovery of expected credit loss	(1)		(6)		(2)		(7)
Valuation allowance for expected credit losses - end of period	$	34	$	37	$	34	$	37

c) 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)	2022		2021		2022		2021
Fixed maturities:



Gross realized gains	$	362	$	56	$	401	$	93
Gross realized losses	(700)		(53)		(827)		(72)
Net (provision for) recovery of expected credit losses	(51)		10		(63)		16
Impairment (1)	(53)		(1)		(89)		(1)
Total fixed maturities	(442)		12		(578)		36
Equity securities	(263)		150		(207)		517

Other investments	4		62		59		100
Foreign exchange	268		(97)		343		(21)
Investment and embedded derivative instruments	(81)		(91)		(34)		18
Fair value adjustments on insurance derivative	(143)		(8)		(108)		311
S&P futures	144		(64)		186		(108)
Other derivative instruments	9		3		10		2
Other (2)	—		—		(74)		(1)
Net realized gains (losses) (pre-tax)	$	(504)	$	(33)	$	(403)	$	854

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

(2)Other realized losses include impairment of assets related to Chubb's Russian entities.

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


							Three Months Ended
							June 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(263)	$	4	$	(259)	$	150	$	62	$	212
Less: Net gains recognized from sales of securities	163		—		163		45		—		45
Unrealized gains (losses) recognized for securities still held at reporting date	$	(426)	$	4	$	(422)	$	105	$	62	$	167


							Six Months Ended
							June 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(207)	$	59	$	(148)	$	517	$	100	$	617
Less: Net gains recognized from sales of securities	418		—		418		90		—		90
Unrealized gains (losses) recognized for securities still held at reporting date	$	(625)	$	59	$	(566)	$	427	$	100	$	527

d) Alternative investments

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


	Expected Liquidation Period of Underlying Assets	June 30, 2022				December 31, 2021
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,144	$	530	$	1,096	$	267
Real assets	2 to 13 Years	1,749		586		1,193		766
Distressed	2 to 8 Years	992		823		753		641
Private credit	3 to 8 Years	71		280		84		279
Traditional	2 to 14 Years	6,911		5,145		6,647		5,200
Vintage	1 to 2 Years	54		—		68		—
Investment funds	Not Applicable	317		—		267		—
		$	11,238	$	7,364	$	10,108	$	7,153

Included in all categories in the above table, except for Investment funds, are investments for which Chubb will never have the contractual option to redeem but receives distributions based on the liquidation of the underlying assets. Further, for all categories except for Investment funds, Chubb does not have the ability to sell or transfer the investments without the consent from the general partner of individual funds.


Investment Category:						Consists of investments in private equity funds:
Financial						targeting financial services companies, such as financial institutions and insurance services worldwide
Real assets						targeting investments related to hard physical assets, such as real estate, infrastructure and natural resources
Distressed						targeting distressed corporate debt/credit and equity opportunities in the U.S.
Private credit						targeting privately originated corporate debt investments, including senior secured loans and subordinated bonds
Traditional						employing traditional private equity investment strategies, such as buyout and growth equity globally
Vintage						funds where the initial fund term has expired

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

e) Restricted assets

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

30, 2022 and December 31, 2021 are investments, primarily fixed maturities, totaling $17,392 million and $17,092 million, respectively, and cash of $117 million and $152 million, respectively.

The following table presents the components of restricted assets:


	June 30		December 31
(in millions of U.S. dollars)	2022		2021
Trust funds	$	7,927	$	9,915
Deposits with U.S. regulatory authorities	2,317		2,402
Deposits with non-U.S. regulatory authorities	2,964		2,873
Assets pledged under repurchase agreements	3,582		1,420
Other pledged assets	719		634
Total	$	17,509	$	17,244

Fair value measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair value measurements

a) Fair value hierarchy

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

The three levels of the hierarchy are as follows:

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

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

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

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

would use in pricing an asset or liability.

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

We use pricing services to obtain fair value measurements for the majority of our investment securities. Based on management’s understanding of the methodologies used, these pricing services only produce an estimate of fair value if there is observable market information that would allow them to make a fair value estimate. Based on our understanding of the market inputs used by the pricing services, all applicable investments have been valued in accordance with GAAP. We do not adjust prices obtained from pricing services. The following is a description of the valuation techniques and inputs used to determine fair values for financial instruments carried at fair value, as well as the general classification of such financial instruments pursuant to the valuation hierarchy.

Fixed maturities

We use pricing services to estimate fair value measurements for the majority of our fixed maturities. The pricing services use market quotations for fixed maturities that have quoted prices in active markets; such securities are classified within Level 1. For fixed maturities other than U.S. Treasury securities that generally do not trade on a daily basis, the pricing services prepare estimates of fair value measurements using their pricing applications or pricing models, which include available relevant market information, benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing. Additional valuation factors that can be taken into account are nominal spreads, dollar basis, and liquidity adjustments. The pricing services evaluate each asset class based on relevant market and credit information, perceived market movements, and sector news. The market inputs used in the pricing evaluation, listed in the approximate order of priority include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and economic events. The extent of the use of each input is dependent on the asset class and the market conditions. Given the asset class, the priority of the use of inputs may change, or some market inputs may not be relevant. Additionally, fixed maturities valuation is more subjective when markets are less liquid due to the lack of market based inputs (i.e., stale pricing) and may

require the use of models to be priced. The lack of market based inputs may increase the potential that an investment's estimated fair value is not reflective of the price at which an actual transaction would occur. The overwhelming majority of fixed maturities are classified within Level 2 because the most significant inputs used in the pricing techniques are observable. For a small number of fixed maturities, we obtain a single broker quote (typically from a market maker). Due to the disclaimers on the quotes that indicate that the price is indicative only, we include these fair value estimates in Level 3.

Equity securities

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

Short-term investments

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

Other investments

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

Securities lending collateral

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

Investment derivative instruments

Actively traded investment derivative instruments, including futures, options, and forward contracts are classified within Level 1 as fair values are based on quoted market prices. The fair value of cross-currency swaps and interest rate swaps is based on market valuations and is classified within Level 2. Investment derivative instruments are recorded in either Other assets or Accounts payable, accrued expenses, and other liabilities in the Consolidated balance sheets.

Other derivative instruments

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

Separate account assets

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

Guaranteed living benefits

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

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


June 30, 2022	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	1,657	$	520	$	—	$	2,177
Non-U.S.	—		22,268		549		22,817
Corporate and asset-backed securities	—		32,786		2,261		35,047
Mortgage-backed securities	—		17,316		19		17,335
Municipal	—		4,693		—		4,693
	1,657		77,583		2,829		82,069
Equity securities	2,568		—		81		2,649
Short-term investments	2,043		1,379		9		3,431
Other investments (1)	235		400		—		635
Securities lending collateral	—		1,658		—		1,658
Investment derivative instruments	148		—		—		148
Other derivative instruments	60		—		—		60
Separate account assets	4,739		86		—		4,825
Total assets measured at fair value (1)	$	11,450	$	81,106	$	2,919	$	95,475
Liabilities:
Investment derivative instruments	$	163	$	—	$	—	$	163

GLB (2)	—		—		832		832
Total liabilities measured at fair value	$	163	$	—	$	832	$	995

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $11,238 million, policy loans of $245 million and other investments of $50 million at June 30, 2022 measured using NAV as a practical expedient.

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


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

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

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

Level 3 financial instruments

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

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

Fair Value

Valuation
Technique

Significant
Unobservable Inputs

Ranges

Weighted Average (1)

June 30, 2022

December 31, 2021

GLB (1)

$

832

$

745

Actuarial model

Lapse rate

3% – 31%

4.0

%

Annuitization rate

0% – 100%

4.4

%

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

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

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

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

The effect of changes in key market factors on assumed lapse and annuitization rates reflect emerging trends using data available from cedants. For treaties with limited experience, rates are established by blending the experience with data received from other ceding companies. The model and related assumptions are regularly re-evaluated by management and enhanced, as appropriate, based upon additional experience obtained related to policyholder behavior and availability of updated information such as market conditions, market participant assumptions, and demographics of in-force annuities. For the three and six months ended June 30, 2022 and 2021, no material refinements were made to the model. For detailed information on our lapse and annuitization rate assumptions, refer to Note 4 to the Consolidated Financial Statements of our 2021 Form 10-K.

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


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

Balance, beginning of period	$	618	$	2,229	$	20		$	82		$	4		$	696
Transfers into Level 3	5		10		—			—			—			—
Transfers out of Level 3	—		(43)		—			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(41)		(30)		—			—			—			—
Net Realized Gains/Losses	—		—		—			—			—			143
Purchases	26		179		—			—			5			—
Sales	(19)		(24)		—			(1)			—			—
Settlements	(40)		(60)		(1)			—			—			—
Other	—		—		—			—			—			(7)
Balance, end of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(1)	$	—		$	(1)		$	—		$	143
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(41)	$	(30)	$	—		$	—		$	—		$	—

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


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

Balance, beginning of period		$	650		$	1,612		$	51	$	75	$	1	$	10		$	760
Transfers into Level 3		—			29			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		—			—
Change in Net Unrealized Gains/Losses in OCI		5			6			—		—		—		—			—

Net Realized Gains/Losses		3			6			—		5		—		—			8

Purchases		54			240			1		4		2		—			—
Sales		(9)			(50)			(1)		(6)		—		—			—
Settlements		(51)			(152)			(4)		—		—		—			—
Other		—			—			—		—		—		—			(8)
Balance, end of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	6		$	—	$	4	$	—	$	—		$	8
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	7		$	6		$	—	$	—	$	—	$	—		$	—

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


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

Balance, beginning of period	$	633	$	2,049	$	26		$	77		$	7		$	745
Transfers into Level 3	23		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			—			108
Purchases	69		494		—			3			7			—
Sales	(25)		(51)		—			(4)			—			—
Settlements	(72)		(125)		(2)			—			(5)			—
Other	—		—		—			—			—			(21)
Balance, end of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(2)	$	(1)	$	—		$	3		$	—		$	108
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(54)	$	(52)	$	—		$	—		$	—		$	—

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


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

Balance, beginning of period		$	546		$	1,573		$	60	$	73	$	5	$	10		$	1,089
Transfers into Level 3		—			46			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		—			—
Change in Net Unrealized Gains/Losses in OCI		13			12			—		—		—		—			—

Net Realized Gains/Losses		3			3			—		7		—		—			(311)

Purchases		175			409			1		7		3		—			—
Sales		(16)			(75)			(1)		(9)		—		—			—
Settlements		(69)			(277)			(13)		—		(5)		—			—
Other		—			—			—		—		—		—			(18)
Balance, end of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	3		$	—	$	6	$	—	$	—		$	(311)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	17		$	17		$	—	$	—	$	—	$	—		$	—

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

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

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

The carrying values of cash, other assets, other liabilities, and other financial instruments not included below approximated their fair values. Refer to the 2021 Form 10-K for information on the fair value methods and assumptions for investments in partially-owned insurance companies, short-term and long-term debt, repurchase agreements, and trust-preferred securities.

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


June 30, 2022	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,198	$	75	$	—	$	1,273	$	1,298
Non-U.S.	—		1,071		—		1,071		1,108
Corporate and asset-backed securities	—		1,746		—		1,746		1,816
Mortgage-backed securities	—		1,598		—		1,598		1,650
Municipal	—		3,645		—		3,645		3,660
Total assets	$	1,198	$	8,135	$	—	$	9,333	$	9,532
Liabilities:
Repurchase agreements	$	—	$	3,411	$	—	$	3,411	$	3,411
Short-term debt	—		1,473		—		1,473		1,474
Long-term debt	—		13,122		—		13,122		14,311
Trust preferred securities	—		395		—		395		308
Total liabilities	$	—	$	18,401	$	—	$	18,401	$	19,504


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

Liability for Claims and Claims Adjustment Expense [Abstract]

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

+ References + Details

Reinsurance

6 Months Ended

Jun. 30, 2022

Reinsurance Disclosures [Abstract]

Reinsurance [Text Block]

Reinsurance

Reinsurance recoverable on ceded reinsurance


	June 30, 2022				December 31, 2021
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	16,573	$	283	$	16,184	$	271
Reinsurance recoverable on paid losses and loss expenses	1,204		58		1,182		58
Reinsurance recoverable on losses and loss expenses	$	17,777	$	341	$	17,366	$	329
Reinsurance recoverable on policy benefits	$	205	$	4	$	213	$	4

(1)Net of valuation allowance for uncollectible reinsurance.

The increase in reinsurance recoverable on losses and loss expenses was primarily due to prior period development in certain lines and higher underlying ceded exposures due to premium growth.

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)	2022		2021
Valuation allowance for uncollectible reinsurance - beginning of period	$	329	$	314
Provision for uncollectible reinsurance	17		9
Write-offs charged against the valuation allowance	(4)		(1)
Foreign exchange revaluation	(1)		—

Valuation allowance for uncollectible reinsurance - end of period	$	341	$	322

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

Unpaid losses and loss expenses

6 Months Ended

Jun. 30, 2022

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

Unpaid losses and loss expenses

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


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


Net losses and loss expenses incurred in respect of losses occurring in:
Current year	10,846		10,546
Prior years (2)	(651)		(487)
Total	10,195		10,059
Net losses and loss expenses paid in respect of losses occurring in:
Current year	2,281		2,355
Prior years	6,566		5,531
Total	8,847		7,886
Foreign currency revaluation and other	(588)		231
Net unpaid losses and loss expenses – end of period	57,519		55,568
Reinsurance recoverable on unpaid losses (1)	16,573		14,721
Gross unpaid losses and loss expenses – end of period	$	74,092	$	70,289

(1) Net of valuation allowance for uncollectible reinsurance.

(2) Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments and earned premiums totaling $164 million and $27 million for the six months ended June 30, 2022 and 2021, respectively.

Gross and net unpaid losses and loss expenses increased $1,149 million and $760 million, respectively, for the six months ended June 30, 2022, driven by an increase in underlying exposure due to premium growth, partially offset by catastrophe loss payments, favorable prior period development, and favorable foreign exchange movement.

Prior Period Development

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

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


	Three Months Ended June 30						Six Months Ended June 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
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)
2021
North America Commercial P&C Insurance	$	(96)	$	(60)	$	(156)	$	(142)	$	(141)	$	(283)
North America Personal P&C Insurance	—		(44)		(44)		—		(84)		(84)
North America Agricultural Insurance	—		—		—		—		(2)		(2)
Overseas General Insurance	5		(161)		(156)		5		(186)		(181)
Global Reinsurance	(22)		22		—		(22)		15		(7)
Corporate	88		—		88		97		—		97
Total	$	(25)	$	(243)	$	(268)	$	(62)	$	(398)	$	(460)

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

2022

For the three months ended June 30, 2022, net favorable PPD was $287 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $266 million in long-tail business, primarily from:

•Net favorable development of $286 million in workers’ compensation lines. This included favorable development of $59 million related to our annual assessment of multi-claimant events, including industrial accidents, in the 2021 accident year. Consistent with prior years, we reviewed these potential exposures after the close of the accident year to allow for late reporting or identification of significant losses. The remaining overall favorable development was mainly in accident years 2017 and prior, driven by lower than expected loss experience and related updates to loss development factors;

•Net favorable development of $132 million in primary general liability portfolios, driven by lower than expected paid and reported case incurred activity in accident years 2017 and prior; and

•Net adverse development of $123 million in commercial automobile liability, including $90 million in our high deductible and excess automobile liability portfolios, driven by adverse reported loss experience, mainly impacting accident years 2018 through 2021.

For the six months ended June 30, 2022, net favorable PPD was $395 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $286 million in long-tail business, primarily from:

•Net favorable development of $328 million in workers’ compensation lines, mainly due to the same factors experienced for the three months ended June 30, 2022, as described above;

•Net favorable development of $136 million in primary general liability portfolios, mainly due to the same factors experienced for the three months ended June 30, 2022, as described above; and

•Net adverse development of $116 million in commercial automobile liability, mainly due to the same factors experienced for the three months ended June 30, 2022, as described above.

•Net favorable development of $109 million in short-tail business, primarily from net favorable development of $78 million in A&H, in accident years 2020 and 2021, driven by lower than expected loss emergence.

2021

For the three months ended June 30, 2021, net favorable PPD was $156 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $96 million in long-tail business, primarily from:

•Net favorable development of $137 million in workers’ compensation lines. This included favorable development of $36 million related to our annual assessment of multi-claimant events, including industrial accidents, in the 2020 accident year. Consistent with prior years, we reviewed these potential exposures after the close of the accident year to allow for late reporting or identification of significant losses. The remaining overall favorable development was mainly in accident years 2016 and prior, driven by lower than expected loss experience and related updates to loss development factors;

•Net favorable development of $45 million in general liability portfolios, driven by lower than expected paid and reported case incurred activity in accident years 2017 and prior, partly offset by higher than expected reported case incurred activity in accident years 2018 and 2019; and

•Net adverse development of $76 million in commercial automobile liability, driven by adverse reported loss experience, mainly impacting accident years 2017 and 2019.

•Net favorable development of $60 million in short-tail business, primarily from net favorable development of $41 million in surety, $35 million of which was due to lower than expected COVID-19 claim activity in accident year 2020. The remaining favorable development is predominantly driven by automobile, which experienced lower than expected claim development related to physical damage coverages in the 2020 accident year.

For the six months ended June 30, 2021, net favorable PPD was $283 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $142 million in long-tail business, primarily from:

•Net favorable development of $158 million in workers’ compensation lines, mainly due to the same factors experienced for the three months ended June 30, 2021, as described above; and

•Net adverse development of $74 million in commercial automobile liability, due to the same factors experienced for the three months ended June 30, 2021.

•Net favorable development of $141 million in short-tail business, primarily from net favorable development of $89 million in surety, mainly in accident years 2018 through 2020, driven by lower than expected loss emergence.

Overseas General Insurance

2022

For the three months ended June 30, 2022, net favorable PPD was $173 million across short-tail lines, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $53 million in A&H lines driven by favorable loss developments across all regions in accident years 2019 through 2021;

•Net favorable development of $44 million in property lines mainly due to favorable loss development across most regions, favorable catastrophe development in accident years 2019 through 2021, specific case reductions, and salvage and subrogation recoveries in accident year 2018 and prior; and

•Net favorable development of $41 million in personal lines mainly due to favorable loss frequency in Latin America and Asia Pacific automobile in accident years 2020 and 2021, UK and Asia Pacific high net worth homeowners in accident year 2021 and Asia Pacific and Continental Europe cell phones in accident year 2021.

For the six months ended June 30, 2022, net favorable PPD was $233 million across a number of short-tail lines, which was the net of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $75 million in A&H lines, net favorable development of $67 million in property lines, and net favorable development of $53 million in personal lines, mainly due to the same factors experienced for the three months ended June 30, 2022.

2021

For the three months ended June 30, 2021, net favorable PPD was $156 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•Net favorable development of $161 million in short-tail business, primarily from:

•Net favorable development of $50 million, in property lines in accident years 2019 and 2020, including a $21 million favorable reduction in COVID-19 estimates in accident year 2020. The remaining favorable development was across most regions in accident years 2019 and 2020;

•Net favorable development of $49 million, in A&H lines, mainly due to favorable loss development across all regions in accident years 2019 and 2020; and

•Net favorable development of $31 million in marine lines in accident years 2018 through 2020, driven by favorable loss development, specific claim reductions, and salvage and subrogation recoveries in Continental Europe and Asia Pacific.

For the six months ended June 30, 2021, net favorable PPD in short-tail business was $186 million principally comprising favorable development of $58 million in property lines, and $55 million in A&H lines, due to the same factors experienced for the three months ended June 30, 2021.

Global Reinsurance

2022

For the three and six months ended June 30, 2022, net adverse PPD was $25 million and $22 million, respectively, driven by adverse development of $32 million in property lines, mainly in accident years 2020 and 2021. The adverse development was driven by higher costs due to the current economic environment and increased litigation costs.

Corporate

2022

For the three and six months ended June 30, 2022, net adverse PPD 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.

2021

For the three and six months ended June 30, 2021, net adverse PPD was $88 million and $97 million, respectively, driven by adverse development of $68 million for molestation claims. 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.

Commitments, contingencies, and guarantees

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments, contingencies, and guarantees

a) Derivative instruments

Foreign currency management

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. We do not hedge our net asset non-U.S. dollar capital positions; however, we do consider economic hedging for planned cross border transactions.

Derivative instruments employed

Chubb maintains positions in derivative instruments such as futures, options, swaps, and foreign currency forward contracts for which the primary purposes are to manage duration and foreign currency exposure, yield enhancement, or to obtain an exposure to a particular financial market. Chubb also maintains positions in convertible securities that contain embedded derivatives. Investment derivative instruments 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.

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

All derivative instruments are carried at fair value with changes in fair value recorded in Net realized gains (losses) in the Consolidated statements of operations. None of the derivative instruments are designated as hedges for accounting purposes.

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, 2022								December 31, 2021
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision			Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)				Derivative Asset			Derivative (Liability)
Investment and embedded derivative instruments:
Foreign currency forward contracts	OA / (AP)	$	67	$	(153)	$	4,973		$	25		$	(139)	$	6,182
Options/Futures contracts on notes, bonds, and equities	OA / (AP)	81		(10)		5,782			33			(27)		12,944
Convertible securities (1)	FM AFS / ES	17		—		22			11			—		12
		$	165	$	(163)	$	10,777		$	69		$	(166)	$	19,138
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	39	$	—	$	772		$	—		$	(16)	$	905
Other	OA / (AP)	21		—		304			—			—		3
		$	60	$	—	$	1,076		$	—		$	(16)	$	908
GLB (3)	(AP)	$	—	$	(832)	$	2,086		$	—		$	(745)	$	1,432

(1)Includes fair value of embedded derivatives.

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

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

At June 30, 2022 and December 31, 2021, net derivative assets of $46 million and net derivative liabilities of $123 million, respectively, included in the table above were subject to a master netting agreement. The remaining derivatives included in the table above were not subject to a master netting agreement.

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)	2022		2021		2022		2021
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(214)	$	(6)	$	(268)	$	(22)

All other futures contracts, options, and equities	134		(86)		236		39
Convertible securities (1)	(1)		1		(2)		1

Total investment and embedded derivative instruments	$	(81)	$	(91)	$	(34)	$	18
GLB and other derivative instruments:
GLB	$	(143)	$	(8)	$	(108)	$	311
Futures contracts on equities (2)	144		(64)		186		(108)
Other	9		3		10		2
Total GLB and other derivative instruments	$	10	$	(69)	$	88	$	205
	$	(71)	$	(160)	$	54	$	223

(1)Includes embedded derivatives.

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

b) Derivative instrument objectives

(i) Foreign currency exposure management

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

(ii) Duration management and market exposure

Futures

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

Exchange-traded equity futures contracts are used to limit exposure to a severe equity market decline, which would cause an increase in expected claims and therefore, an increase in future policy benefit reserves for GMDB and an increase in the fair value liability for GLB reinsurance business.

Options

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

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

The credit risk associated with the above derivative financial instruments relates to the potential for non-performance by counterparties. Although non-performance is not anticipated, in order to minimize the risk of loss, management monitors the creditworthiness of its counterparties and obtains collateral. The performance of exchange-traded instruments is guaranteed by the exchange on which they trade. For non-exchange-traded instruments, the counterparties are principally banks which must meet certain criteria according to our investment guidelines.

Other

Included within Other are derivatives intended to reduce potential losses which may arise from certain exposures in our insurance business. The economic benefit provided by these derivatives is similar to purchased reinsurance. For example, Chubb may enter into crop derivative contracts to protect underwriting results in the event of a significant decline in commodity prices.

(iii) Convertible security investments

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

(iv) TBA

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

(v) GLB

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

To mitigate adverse changes in the capital markets, we maintain positions in exchange-traded equity futures contracts, as noted under section "(ii) Futures" above. These futures increase in fair value when the S&P 500 index decreases (and decrease in fair

value when the S&P 500 index increases). The net impact of gains or losses related to changes in fair value of the GLB liability and the exchange-traded equity futures are included in Net realized gains (losses).

c) 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, 2022		December 31, 2021
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	914	$	931
U.S. Treasury / Agency	131		128
Non-U.S.	577		752
Corporate and asset-backed securities	33		12
Mortgage-backed securities	—		1

Equity securities	3		7

	$	1,658	$	1,831
Gross amount of recognized liability for securities lending payable	$	1,658	$	1,831

At June 30, 2022 and December 31, 2021, our repurchase agreement obligations of $3,411 million and $1,406 million, respectively, were fully collateralized. In contrast to securities lending programs, the use of cash received is not restricted for the repurchase obligations. The fair value of the underlying securities sold remains in Fixed maturities available for sale, and the repurchase agreement obligation is recorded in Repurchase agreements in the Consolidated balance sheets.

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


	Remaining contractual maturity
	June 30, 2022						December 31, 2021
	30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	21	$	24	$	45	$	—	$	29	$	29
U.S. Treasury / Agency	104		—		104		103		—		103

Corporate securities	8		—		8		—		—		$	—
Mortgage-backed securities	1,521		1,904		3,425		—		1,288		1,288
	$	1,654	$	1,928	$	3,582	$	103	$	1,317	$	1,420
Gross amount of recognized liabilities for repurchase agreements					$	3,411					$	1,406
Difference (1)					$	171					$	14

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

Potential risks exist in our secured borrowing transactions due to market conditions and counterparty exposure. With collateral that we pledge, there is a risk that the collateral may not be returned at the expiration of the agreement. If the counterparty fails to return the collateral, Chubb will have free use of the borrowed funds until our collateral is returned. In addition, we may encounter the risk that Chubb may not be able to renew outstanding borrowings with a new term or with an existing counterparty due to market conditions including a decrease in demand as well as more restrictive terms from banks due to increased regulatory and capital constraints. Should this condition occur, Chubb may seek alternative borrowing sources or reduce borrowings. Additionally, increased margins and collateral requirements due to market conditions would increase our restricted assets as we are required to provide additional collateral to support the transaction.

d) Fixed maturities

At June 30, 2022, and December 31, 2021, commitments to purchase fixed income securities over the next several years were $632 million and $771 million, respectively.

e) Other investments

At June 30, 2022, included in Other investments in the Consolidated balance sheet are investments in limited partnerships and partially-owned investment companies with a carrying value of $10.9 billion. In connection with these investments, we have commitments that may require funding of up to $7.4 billion over the next several years. At December 31, 2021, these investments had a carrying value of $9.8 billion with a commitment that may require funding of up to $7.2 billion.

f) Income taxes

At June 30, 2022, $58 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.

g) 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.

h) Lease commitments

At June 30, 2022, and December 31, 2021, the right-of-use asset was $433 million and $445 million, respectively, recorded within Other assets and the lease liability was $461 million and $484 million, respectively, recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheets. These leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease, which expire at various dates.

Shareholders' equity

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Shareholders' equity

Shareholders’ equity

All of Chubb’s Common Shares are authorized under Swiss corporate law. Though the par value of Common Shares is stated in Swiss francs, Chubb continues to use U.S. dollars as its reporting currency for preparing the Consolidated Financial statements. Under Swiss corporate law, dividends, including distributions from legal reserves or through a reduction in par value (par value reduction), must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At June 30, 2022, our Common Shares had a par value of CHF 24.15 per share.

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

At our May 2021 and 2020 annual general meetings, our shareholders approved annual dividends for the following year of up to $3.20 per share and $3.12 per share, respectively, which were paid in four quarterly installments of $0.80 per share and $0.78 per share, respectively, at dates determined by the Board after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

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


	Three Months Ended						Six Months Ended
	June 30						June 30
	2022			2021			2022			2021
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.80	$	0.83	0.71	$	0.80	1.54	$	1.63	1.41	$	1.58

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. During the six months ended June 30, 2022, 10,346,200 shares were repurchased, 14,465,400 shares were canceled, and 2,247,675 net shares were issued under employee share-based compensation plans. At June 30, 2022, 41,081,627 Common Shares remain in treasury.

Chubb Limited securities repurchase authorizations

The Board has authorized share repurchase programs as follows:

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

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

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

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

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


	Three Months Ended				Six Months Ended				July 1, 2022 through July 28, 2022
			June 30				June 30
(in millions of U.S. dollars, except share data)	2022		2021		2022		2021
Number of shares repurchased	5,476,300		11,355,400		10,346,200		14,465,400		1,513,728
Cost of shares repurchased	$	1,129	$	1,921	$	2,130	$	2,440	$	281
Repurchase authorization remaining at end of period (1)	$	2,500	$	65	$	2,500	$	65	$	2,220

(1) As of June 30, 2022, $522 million expired under the July 2021 $5.0 billion share repurchase authorization.

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

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Compensation and Employee Benefit Plans [Text Block]

Share-based compensation	6 Months Ended
Share-based compensation	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensationThe Chubb Limited 2016 Long-Term Incentive Plan, as amended and restated (the Amended 2016 LTIP), permits grants of both incentive and non-qualified stock options principally at an option price per share equal to the grant date fair value of Chubb's Common Shares. Stock options are generally granted with a 3-year vesting period and a 10-year term. Stock options typically vest in equal annual installments over the respective vesting period, which is also the requisite service period. On February 24, 2022, Chubb granted 1,699,554 stock options with a weighted-average grant date fair value of $35.21 each. The fair value of the options issued is estimated on the grant date using the Black-Scholes option pricing model.The Amended 2016 LTIP also permits grants of service-based restricted stock and restricted stock units as well as performance-based restricted stock awards. Chubb generally grants service-based restricted stock and restricted stock units with a 4-year vesting period, based on a graded vesting schedule. The performance-based restricted stock awards granted comprise target awards and premium awards that cliff vest at the end of a 3-year performance period based on both tangible book value (shareholders' equity less goodwill and intangible assets, net of tax) per share growth and P&C combined ratio compared to a defined group of peer companies. Premium awards are subject to an additional vesting provision based on total shareholder return compared to our peer group. The restricted stock is principally granted at market close price on the grant date. On February 24, 2022, Chubb granted 807,194 service-based restricted stock awards, 295,301 service-based restricted stock units, and 294,229 performance-based stock awards to employees and officers with a grant date fair value of $199.03 each. Each restricted stock unit represents our obligation to deliver to the holder one Common Share upon vesting.

Postretirement benefits

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Postretirement benefits

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


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2022				2021				2022		2021
Three Months Ended June 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	1	$	—	$	1	$	—	$	—
Non-service cost (benefit):
Interest cost	22		6		17		4		1		—
Expected return on plan assets	(71)		(11)		(63)		(11)		(1)		—
Amortization of net actuarial loss	—		—		—		1		—		—
Amortization of prior service cost	—		—		—		—		—		(6)

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(49)		(5)		(46)		(6)		—		(6)
Net periodic benefit cost (benefit)	$	(49)	$	(4)	$	(46)	$	(5)	$	—	$	(6)


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2022				2021				2022		2021
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	$	—	$	2	$	—	$	2	$	—	$	—
Non-service cost (benefit):
Interest cost	43		12		35		9		1		—
Expected return on plan assets	(142)		(22)		(127)		(22)		(1)		—
Amortization of net actuarial loss	—		—		—		2		—		—
Amortization of prior service cost	—		—		—		—		—		(26)

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(99)		(10)		(92)		(11)		—		(26)
Net periodic benefit cost (benefit)	$	(99)	$	(8)	$	(92)	$	(9)	$	—	$	(26)

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended June 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	1		1		—		—
Total service cost	1		1		—		—
Non-service cost (benefit):
Losses and loss expenses	(5)		(4)		—		(1)
Administrative expenses	(49)		(48)		—		(5)
Total non-service cost (benefit)	(54)		(52)		—		(6)
Net periodic benefit cost (benefit)	$	(53)	$	(51)	$	—	$	(6)


	Pension Benefit Plans				Other Postretirement Benefit Plans
Six Months Ended June 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		2		—		—
Total service cost	2		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(10)		(9)		—		(3)
Administrative expenses	(99)		(94)		—		(23)
Total non-service cost (benefit)	(109)		(103)		—		(26)
Net periodic benefit cost (benefit)	$	(107)	$	(101)	$	—	$	(26)

Other Income and Expense

6 Months Ended

Jun. 30, 2022

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)	2022		2021		2022		2021
Equity in net income (loss) of partially-owned entities (1)	$	(71)	$	774	$	290	$	1,271
Gains (losses) from fair value changes in separate account assets (2)	(18)		15		(49)		19
Federal excise and capital taxes	(5)		(5)		(9)		(10)

Other	(7)		(7)		(23)		(13)
Total	$	(101)	$	777	$	209	$	1,267

(1) Equity in net income (loss) of partially-owned entities principally comprises market-to-market gain (loss) on private equities where we own more than three percent of $(134) million and $121 million for the three and six months ended June 30, 2022, respectively, and $674 million and $1,074 million, respectively, for the prior year periods. This line item also includes net income of $15 million and $55 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and six months ended June 30, 2022, respectively, compared to $49 million and $98 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, 2022

Segment Reporting [Abstract]

Segment information

Chubb operates through six business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Corporate results primarily include income and expenses not attributable to reportable segments and losses and loss expenses of asbestos and environmental (A&E) liabilities and certain other non-A&E run-off exposures.

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

Revenue and expenses managed at the corporate level, including net realized gains (losses), interest expense, Cigna integration expenses, and income tax are reported within Corporate. Cigna integration expenses are one-time costs that are directly attributable to third-party consulting fees and other professional and legal fees related to the acquisition of Cigna's life and non-life insurance companies in six Asia-Pacific markets. These items are not allocated to the segment level as they are one-time in nature and are not related to the ongoing business activities of the segment. The Chief Executive Officer does not manage segment results or allocate resources to segments when considering these costs, and therefore are excluded from our definition of segment income (loss).

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

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

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

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

The following tables present the Statement of Operations by segment:


For the Three Months Ended June 30, 2022 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,665	$	1,426	$	738	$	2,640	$	262	$	571	$	—	$	—	$	10,302
Net premiums earned	4,248		1,271		573		2,696		222		547		—		—		9,557
Losses and loss expenses	2,446		773		478		1,224		139		148		191		9		5,408
Policy benefits	—		—		—		—		—		177		—		(18)		159
Policy acquisition costs	545		258		31		697		57		151		—		—		1,739
Administrative expenses	277		73		2		278		10		88		90		—		818
Underwriting income (loss)	980		167		62		497		16		(17)		(281)		9		1,433
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	$	101	$	(468)	$	(9)	$	2,149
Net realized gains (losses)													(513)		9		(504)
Interest expense													134		—		134
Cigna integration expenses													3		—		3
Income tax expense													293		—		293
Net income (loss)													$	(1,411)	$	—	$	1,215


For the Three Months Ended June 30, 2021 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,285	$	1,363	$	512	$	2,497	$	274	$	615	$	—	$	—	$	9,546
Net premiums earned	3,803		1,224		410		2,579		192		605		—		—		8,813
Losses and loss expenses	2,426		676		331		1,186		110		185		89		3		5,006
Policy benefits	—		—		—		—		—		170		—		15		185
Policy acquisition costs	489		245		27		699		47		191		—		—		1,698
Administrative expenses	245		67		3		279		10		83		88		—		775
Underwriting income (loss)	643		236		49		415		25		(24)		(177)		(18)		1,149
Net investment income (loss)	535		64		8		149		81		101		(15)		(39)		884
Other (income) expense	14		(5)		—		2		—		(26)		(708)		(54)		(777)
Amortization expense of purchased intangibles	—		3		6		13		—		1		50		—		73
Segment income	$	1,164	$	302	$	51	$	549	$	106	$	102	$	466	$	(3)	$	2,737
Net realized gains (losses)													(36)		3		(33)
Interest expense													122		—		122
Income tax expense													317		—		317
Net income (loss)													$	(9)	$	—	$	2,265


For the Six Months Ended June 30, 2022 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	8,704	$	2,606	$	800	$	5,719	$	515	$	1,157	$	—	$	—	$	19,501
Net premiums earned	8,362		2,518		544		5,324		457		1,098		—		—		18,303
Losses and loss expenses	4,943		1,486		386		2,613		254		302		201		10		10,195
Policy benefits	—		—		—		—		—		353		—		(49)		304
Policy acquisition costs	1,118		518		43		1,376		119		302		—		—		3,476
Administrative expenses	542		142		1		547		19		172		173		—		1,596
Underwriting income (loss)	1,759		372		114		788		65		(31)		(374)		39		2,732
Net investment income (loss)	1,011		123		14		309		161		212		(9)		(111)		1,710
Other (income) expense	6		2		—		5		1		(40)		(121)		(62)		(209)
Amortization expense of purchased intangibles	—		5		13		28		—		5		91		—		142
Segment income (loss)	$	2,764	$	488	$	115	$	1,064	$	225	$	216	$	(353)	$	(10)	$	4,509
Net realized gains (losses)													(413)		10		(403)
Interest expense													266		—		266
Cigna integration expenses													3		—		3
Income tax expense													648		—		648
Net income (loss)													$	(1,683)	$	—	$	3,189


For the Six Months Ended June 30, 2021 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	7,949	$	2,461	$	695	$	5,387	$	481	$	1,235	$	—	$	—	$	18,208
Net premiums earned	7,477		2,408		520		5,057		372		1,200		—		—		17,034
Losses and loss expenses	4,986		1,495		416		2,449		230		383		98		2		10,059
Policy benefits	—		—		—		—		—		333		—		19		352
Policy acquisition costs	1,003		492		39		1,367		92		370		—		—		3,363
Administrative expenses	499		127		6		545		18		165		159		—		1,519
Underwriting income (loss)	989		294		59		696		32		(51)		(257)		(21)		1,741
Net investment income (loss)	1,075		129		15		290		151		199		(32)		(80)		1,747
Other (income) expense	16		(4)		—		3		—		(60)		(1,123)		(99)		(1,267)
Amortization expense of purchased intangibles	—		6		13		25		—		2		99		—		145
Segment income	$	2,048	$	421	$	61	$	958	$	183	$	206	$	735	$	(2)	$	4,610
Net realized gains (losses)													852		2		854
Interest expense													244		—		244
Income tax expense													655		—		655
Net income													$	688	$	—	$	4,565

Underwriting assets are reviewed in total by management for purposes of decision-making. Other than Unpaid losses and loss expenses, Future policy benefits, Reinsurance recoverables, Goodwill and Other intangible assets, Chubb does not allocate assets to its segments.

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

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Earnings per share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings per share


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars, except share and per share data)	2022		2021		2022		2021
Numerator:
Net income	$	1,215	$	2,265	$	3,189	$	4,565
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	421,624,660		445,094,678		423,703,328		447,802,079
Denominator for diluted earnings per share:
Share-based compensation plans	3,793,686		2,857,242		3,982,116		2,900,440
Weighted-average shares outstanding and assumed conversions	425,418,346		447,951,920		427,685,444		450,702,519
Basic earnings per share	$	2.88	$	5.09	$	7.53	$	10.20
Diluted earnings per share	$	2.86	$	5.06	$	7.46	$	10.13
Potential anti-dilutive share conversions	1,690,893		1,777,555		1,196,180		1,879,882

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods. These securities consisted of stock options in which the underlying exercise prices were greater than the average market prices of our Common Shares. Refer to Note 12 to the Consolidated Financial Statements of our 2021 Form 10-K for additional information on stock options.

General (Policies)

6 Months Ended

Jun. 30, 2022

Basis of presentation

Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 12 for additional information.

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

The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2021 Form 10-K.

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

Restricted cash

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

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


	June 30		December 31
(in millions of U.S. dollars)	2022		2021
Cash (1)	$	7,122	$	1,659
Restricted cash	117		152
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	7,239	$	1,811

Accounting guidance not yet adopted

Targeted Improvements to the Accounting for Long-Duration Contracts

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

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

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fair value measurements Fair Value Measurement Policy (Policies)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement, Policy [Policy Text Block]	Fair value of financial assets and financial liabilities is estimated based on the framework established in the fair value accounting guidance. The guidance defines fair value as the price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants and establishes a three-level valuation hierarchy based on the reliability of the inputs. The fair value hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. The three levels of the hierarchy are as follows: •Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets; •Level 2 – Includes, among other items, inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves, quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active; and •Level 3 – Inputs that are unobservable and reflect management’s judgments about assumptions that market participants would use in pricing an asset or liability.

General (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Cash and Cash Equivalents [Table Text Block]

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


	June 30		December 31
(in millions of U.S. dollars)	2022		2021
Cash (1)	$	7,122	$	1,659
Restricted cash	117		152
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	7,239	$	1,811

(1)On July 1, 2022, we paid $5.36 billion for the acquisition of Cigna's life and non-life insurance companies in six Asia-Pacific markets. Refer to Note 2 for additional information.

Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

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


June 30, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,248	$	—	$	9	$	(80)	$	2,177
Non-U.S.	24,646		(32)		164		(1,961)		22,817
Corporate and asset-backed securities	38,166		(45)		59		(3,133)		35,047
Mortgage-backed securities	18,654		(1)		10		(1,328)		17,335
Municipal	4,802		—		18		(127)		4,693
	$	88,516	$	(78)	$	260	$	(6,629)	$	82,069
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,298	$	—	$	1,298	$	4	$	(29)	$	1,273
Non-U.S.	1,112		(4)		1,108		2		(39)		1,071
Corporate and asset-backed securities	1,844		(28)		1,816		3		(73)		1,746
Mortgage-backed securities	1,651		(1)		1,650		1		(53)		1,598
Municipal	3,661		(1)		3,660		8		(23)		3,645
	$	9,566	$	(34)	$	9,532	$	18	$	(217)	$	9,333


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

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

Schedule Of Amortized Cost And Fair Value Of HTM Fixed Maturities


June 30, 2022	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available for sale
U.S. Treasury / Agency	$	2,248	$	—	$	9	$	(80)	$	2,177
Non-U.S.	24,646		(32)		164		(1,961)		22,817
Corporate and asset-backed securities	38,166		(45)		59		(3,133)		35,047
Mortgage-backed securities	18,654		(1)		10		(1,328)		17,335
Municipal	4,802		—		18		(127)		4,693
	$	88,516	$	(78)	$	260	$	(6,629)	$	82,069
	Amortized Cost		Valuation Allowance		Net Carrying Value		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value

Held to maturity
U.S. Treasury / Agency	$	1,298	$	—	$	1,298	$	4	$	(29)	$	1,273
Non-U.S.	1,112		(4)		1,108		2		(39)		1,071
Corporate and asset-backed securities	1,844		(28)		1,816		3		(73)		1,746
Mortgage-backed securities	1,651		(1)		1,650		1		(53)		1,598
Municipal	3,661		(1)		3,660		8		(23)		3,645
	$	9,566	$	(34)	$	9,532	$	18	$	(217)	$	9,333


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

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

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

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


	June 30, 2022				December 31, 2021
(in millions of U.S. dollars, except for percentages)	Amortized cost		% of Total		Amortized cost		% of Total
AAA	$	1,883	20	%	$	2,089	21	%
AA	5,273		55	%	5,303		52	%
A	1,740		18	%	1,964		19	%
BBB	647		7	%	773		8	%
BB	23		—	%	23		—	%
Other	—		—	%	1		—	%
Total	$	9,566	100	%	$	10,153	100	%

Schedule Of Fixed Maturities By Contractual Maturity

The following table presents fixed maturities by contractual maturity:


	June 30, 2022				December 31, 2021
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available for sale
Due in 1 year or less	$	4,086	$	4,086	$	4,498	$	4,498
Due after 1 year through 5 years	23,265		23,265		25,542		25,542
Due after 5 years through 10 years	25,273		25,273		28,207		28,207
Due after 10 years	12,110		12,110		14,372		14,372
	64,734		64,734		72,619		72,619
Mortgage-backed securities	17,335		17,335		20,489		20,489
	$	82,069	$	82,069	$	93,108	$	93,108
Held to maturity
Due in 1 year or less	$	925	$	921	$	888	$	894
Due after 1 year through 5 years	3,660		3,605		3,744		3,846
Due after 5 years through 10 years	1,844		1,823		2,242		2,349
Due after 10 years	1,453		1,386		1,514		1,755
	7,882		7,735		8,388		8,844
Mortgage-backed securities	1,650		1,598		1,730		1,803
	$	9,532	$	9,333	$	10,118	$	10,647

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

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


	0 – 12 Months				Over 12 Months				Total
June 30, 2022	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. Treasury / Agency	$	1,707	$	(70)	$	95	$	(10)	$	1,802	$	(80)
Non-U.S.	15,832		(1,331)		2,578		(334)		18,410		(1,665)
Corporate and asset-backed securities	27,714		(2,346)		1,395		(204)		29,109		(2,550)
Mortgage-backed securities	15,048		(1,140)		1,294		(187)		16,342		(1,327)
Municipal	2,643		(117)		10		(2)		2,653		(119)
Total AFS fixed maturities	$	62,944	$	(5,004)	$	5,372	$	(737)	$	68,316	$	(5,741)


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

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

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

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	27	$	15	$	14	$	20

Provision for expected credit loss	61		1		78		5



Recovery of expected credit loss	(10)		(5)		(14)		(14)
Valuation allowance for expected credit losses - end of period	$	78	$	11	$	78	$	11
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	43	$	35	$	44

Provision for expected credit loss	1		—		1		—


Recovery of expected credit loss	(1)		(6)		(2)		(7)
Valuation allowance for expected credit losses - end of period	$	34	$	37	$	34	$	37

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)	2022		2021		2022		2021
Fixed maturities:



Gross realized gains	$	362	$	56	$	401	$	93
Gross realized losses	(700)		(53)		(827)		(72)
Net (provision for) recovery of expected credit losses	(51)		10		(63)		16
Impairment (1)	(53)		(1)		(89)		(1)
Total fixed maturities	(442)		12		(578)		36
Equity securities	(263)		150		(207)		517

Other investments	4		62		59		100
Foreign exchange	268		(97)		343		(21)
Investment and embedded derivative instruments	(81)		(91)		(34)		18
Fair value adjustments on insurance derivative	(143)		(8)		(108)		311
S&P futures	144		(64)		186		(108)
Other derivative instruments	9		3		10		2
Other (2)	—		—		(74)		(1)
Net realized gains (losses) (pre-tax)	$	(504)	$	(33)	$	(403)	$	854

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

(2)Other realized losses include impairment of assets related to Chubb's Russian entities.

Gain (Loss) on Securities [Table Text Block]

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


							Three Months Ended
							June 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(263)	$	4	$	(259)	$	150	$	62	$	212
Less: Net gains recognized from sales of securities	163		—		163		45		—		45
Unrealized gains (losses) recognized for securities still held at reporting date	$	(426)	$	4	$	(422)	$	105	$	62	$	167


							Six Months Ended
							June 30
	2022						2021
(in millions of U.S. dollars)	Equity Securities		Other Investments		Total		Equity Securities		Other Investments		Total
Net gains (losses) recognized during the period	$	(207)	$	59	$	(148)	$	517	$	100	$	617
Less: Net gains recognized from sales of securities	418		—		418		90		—		90
Unrealized gains (losses) recognized for securities still held at reporting date	$	(625)	$	59	$	(566)	$	427	$	100	$	527

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

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Available for sale
Valuation allowance for expected credit losses - beginning of period	$	27	$	15	$	14	$	20

Provision for expected credit loss	61		1		78		5



Recovery of expected credit loss	(10)		(5)		(14)		(14)
Valuation allowance for expected credit losses - end of period	$	78	$	11	$	78	$	11
Held to maturity
Valuation allowance for expected credit losses - beginning of period	$	34	$	43	$	35	$	44

Provision for expected credit loss	1		—		1		—


Recovery of expected credit loss	(1)		(6)		(2)		(7)
Valuation allowance for expected credit losses - end of period	$	34	$	37	$	34	$	37

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


	Expected Liquidation Period of Underlying Assets	June 30, 2022				December 31, 2021
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,144	$	530	$	1,096	$	267
Real assets	2 to 13 Years	1,749		586		1,193		766
Distressed	2 to 8 Years	992		823		753		641
Private credit	3 to 8 Years	71		280		84		279
Traditional	2 to 14 Years	6,911		5,145		6,647		5,200
Vintage	1 to 2 Years	54		—		68		—
Investment funds	Not Applicable	317		—		267		—
		$	11,238	$	7,364	$	10,108	$	7,153

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)	2022		2021
Trust funds	$	7,927	$	9,915
Deposits with U.S. regulatory authorities	2,317		2,402
Deposits with non-U.S. regulatory authorities	2,964		2,873
Assets pledged under repurchase agreements	3,582		1,420
Other pledged assets	719		634
Total	$	17,509	$	17,244

Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Instruments Measured At Fair Value On A Recurring Basis

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


June 30, 2022	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available for sale
U.S. Treasury / Agency	$	1,657	$	520	$	—	$	2,177
Non-U.S.	—		22,268		549		22,817
Corporate and asset-backed securities	—		32,786		2,261		35,047
Mortgage-backed securities	—		17,316		19		17,335
Municipal	—		4,693		—		4,693
	1,657		77,583		2,829		82,069
Equity securities	2,568		—		81		2,649
Short-term investments	2,043		1,379		9		3,431
Other investments (1)	235		400		—		635
Securities lending collateral	—		1,658		—		1,658
Investment derivative instruments	148		—		—		148
Other derivative instruments	60		—		—		60
Separate account assets	4,739		86		—		4,825
Total assets measured at fair value (1)	$	11,450	$	81,106	$	2,919	$	95,475
Liabilities:
Investment derivative instruments	$	163	$	—	$	—	$	163

GLB (2)	—		—		832		832
Total liabilities measured at fair value	$	163	$	—	$	832	$	995

(1)Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $11,238 million, policy loans of $245 million and other investments of $50 million at June 30, 2022 measured using NAV as a practical expedient.

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


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

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

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

Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations

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

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

Fair Value

Valuation
Technique

Significant
Unobservable Inputs

Ranges

Weighted Average (1)

June 30, 2022

December 31, 2021

GLB (1)

$

832

$

745

Actuarial model

Lapse rate

3% – 31%

4.0

%

Annuitization rate

0% – 100%

4.4

%

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

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


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

Balance, beginning of period	$	618	$	2,229	$	20		$	82		$	4		$	696
Transfers into Level 3	5		10		—			—			—			—
Transfers out of Level 3	—		(43)		—			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(41)		(30)		—			—			—			—
Net Realized Gains/Losses	—		—		—			—			—			143
Purchases	26		179		—			—			5			—
Sales	(19)		(24)		—			(1)			—			—
Settlements	(40)		(60)		(1)			—			—			—
Other	—		—		—			—			—			(7)
Balance, end of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(1)	$	—		$	(1)		$	—		$	143
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(41)	$	(30)	$	—		$	—		$	—		$	—

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


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

Balance, beginning of period		$	650		$	1,612		$	51	$	75	$	1	$	10		$	760
Transfers into Level 3		—			29			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		—			—
Change in Net Unrealized Gains/Losses in OCI		5			6			—		—		—		—			—

Net Realized Gains/Losses		3			6			—		5		—		—			8

Purchases		54			240			1		4		2		—			—
Sales		(9)			(50)			(1)		(6)		—		—			—
Settlements		(51)			(152)			(4)		—		—		—			—
Other		—			—			—		—		—		—			(8)
Balance, end of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	6		$	—	$	4	$	—	$	—		$	8
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	7		$	6		$	—	$	—	$	—	$	—		$	—

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


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

Balance, beginning of period	$	633	$	2,049	$	26		$	77		$	7		$	745
Transfers into Level 3	23		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			—			108
Purchases	69		494		—			3			7			—
Sales	(25)		(51)		—			(4)			—			—
Settlements	(72)		(125)		(2)			—			(5)			—
Other	—		—		—			—			—			(21)
Balance, end of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(2)	$	(1)	$	—		$	3		$	—		$	108
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(54)	$	(52)	$	—		$	—		$	—		$	—

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


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

Balance, beginning of period		$	546		$	1,573		$	60	$	73	$	5	$	10		$	1,089
Transfers into Level 3		—			46			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		—			—
Change in Net Unrealized Gains/Losses in OCI		13			12			—		—		—		—			—

Net Realized Gains/Losses		3			3			—		7		—		—			(311)

Purchases		175			409			1		7		3		—			—
Sales		(16)			(75)			(1)		(9)		—		—			—
Settlements		(69)			(277)			(13)		—		(5)		—			—
Other		—			—			—		—		—		—			(18)
Balance, end of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	3		$	—	$	6	$	—	$	—		$	(311)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	17		$	17		$	—	$	—	$	—	$	—		$	—

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

^[1]

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

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


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

Balance, beginning of period	$	618	$	2,229	$	20		$	82		$	4		$	696
Transfers into Level 3	5		10		—			—			—			—
Transfers out of Level 3	—		(43)		—			—			—			—
Change in Net Unrealized Gains/Losses in OCI	(41)		(30)		—			—			—			—
Net Realized Gains/Losses	—		—		—			—			—			143
Purchases	26		179		—			—			5			—
Sales	(19)		(24)		—			(1)			—			—
Settlements	(40)		(60)		(1)			—			—			—
Other	—		—		—			—			—			(7)
Balance, end of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	—	$	(1)	$	—		$	(1)		$	—		$	143
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(41)	$	(30)	$	—		$	—		$	—		$	—

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


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

Balance, beginning of period		$	650		$	1,612		$	51	$	75	$	1	$	10		$	760
Transfers into Level 3		—			29			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		—			—
Change in Net Unrealized Gains/Losses in OCI		5			6			—		—		—		—			—

Net Realized Gains/Losses		3			6			—		5		—		—			8

Purchases		54			240			1		4		2		—			—
Sales		(9)			(50)			(1)		(6)		—		—			—
Settlements		(51)			(152)			(4)		—		—		—			—
Other		—			—			—		—		—		—			(8)
Balance, end of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	6		$	—	$	4	$	—	$	—		$	8
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	7		$	6		$	—	$	—	$	—	$	—		$	—

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


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

Balance, beginning of period	$	633	$	2,049	$	26		$	77		$	7		$	745
Transfers into Level 3	23		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			—			108
Purchases	69		494		—			3			7			—
Sales	(25)		(51)		—			(4)			—			—
Settlements	(72)		(125)		(2)			—			(5)			—
Other	—		—		—			—			—			(21)
Balance, end of period	$	549	$	2,261	$	19		$	81		$	9		$	832
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date	$	(2)	$	(1)	$	—		$	3		$	—		$	108
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date	$	(54)	$	(52)	$	—		$	—		$	—		$	—

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


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

Balance, beginning of period		$	546		$	1,573		$	60	$	73	$	5	$	10		$	1,089
Transfers into Level 3		—			46			—		—		—		—			—
Transfers out of Level 3		(10)			(3)			—		—		—		—			—
Change in Net Unrealized Gains/Losses in OCI		13			12			—		—		—		—			—

Net Realized Gains/Losses		3			3			—		7		—		—			(311)

Purchases		175			409			1		7		3		—			—
Sales		(16)			(75)			(1)		(9)		—		—			—
Settlements		(69)			(277)			(13)		—		(5)		—			—
Other		—			—			—		—		—		—			(18)
Balance, end of period		$	642		$	1,688		$	47	$	78	$	3	$	10		$	760
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	3		$	—	$	6	$	—	$	—		$	(311)
Change in Net Unrealized Gains/Losses included in OCI at the Balance Sheet date		$	17		$	17		$	—	$	—	$	—	$	—		$	—

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

^[1]

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

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


June 30, 2022	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities held to maturity
U.S. Treasury / Agency	$	1,198	$	75	$	—	$	1,273	$	1,298
Non-U.S.	—		1,071		—		1,071		1,108
Corporate and asset-backed securities	—		1,746		—		1,746		1,816
Mortgage-backed securities	—		1,598		—		1,598		1,650
Municipal	—		3,645		—		3,645		3,660
Total assets	$	1,198	$	8,135	$	—	$	9,333	$	9,532
Liabilities:
Repurchase agreements	$	—	$	3,411	$	—	$	3,411	$	3,411
Short-term debt	—		1,473		—		1,473		1,474
Long-term debt	—		13,122		—		13,122		14,311
Trust preferred securities	—		395		—		395		308
Total liabilities	$	—	$	18,401	$	—	$	18,401	$	19,504


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

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

Reinsurance (Tables)

6 Months Ended

Jun. 30, 2022

Reinsurance Disclosures [Abstract]

schedule of reinsurance recoverable on ceded insurance


	June 30, 2022				December 31, 2021
(in millions of U.S. dollars)	Net Reinsurance Recoverable (1)		Valuation allowance		Net Reinsurance Recoverable (1)		Valuation allowance
Reinsurance recoverable on unpaid losses and loss expenses	$	16,573	$	283	$	16,184	$	271
Reinsurance recoverable on paid losses and loss expenses	1,204		58		1,182		58
Reinsurance recoverable on losses and loss expenses	$	17,777	$	341	$	17,366	$	329
Reinsurance recoverable on policy benefits	$	205	$	4	$	213	$	4

(1)Net of valuation allowance for uncollectible reinsurance.

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

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


	Six Months Ended
	June 30
(in millions of U.S. dollars)	2022		2021
Valuation allowance for uncollectible reinsurance - beginning of period	$	329	$	314
Provision for uncollectible reinsurance	17		9
Write-offs charged against the valuation allowance	(4)		(1)
Foreign exchange revaluation	(1)		—

Valuation allowance for uncollectible reinsurance - end of period	$	341	$	322

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

6 Months Ended

Jun. 30, 2022

Liability for Claims and Claims Adjustment Expense [Abstract]

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

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


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


Net losses and loss expenses incurred in respect of losses occurring in:
Current year	10,846		10,546
Prior years (2)	(651)		(487)
Total	10,195		10,059
Net losses and loss expenses paid in respect of losses occurring in:
Current year	2,281		2,355
Prior years	6,566		5,531
Total	8,847		7,886
Foreign currency revaluation and other	(588)		231
Net unpaid losses and loss expenses – end of period	57,519		55,568
Reinsurance recoverable on unpaid losses (1)	16,573		14,721
Gross unpaid losses and loss expenses – end of period	$	74,092	$	70,289

(1) Net of valuation allowance for uncollectible reinsurance.

(2) Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments and earned premiums totaling $164 million and $27 million for the six months ended June 30, 2022 and 2021, respectively.

Prior Period Development, by Segment [Table Text Block]

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


	Three Months Ended June 30						Six Months Ended June 30
(in millions of U.S. dollars)	Long-tail		Short-tail		Total		Long-tail		Short-tail		Total
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)
2021
North America Commercial P&C Insurance	$	(96)	$	(60)	$	(156)	$	(142)	$	(141)	$	(283)
North America Personal P&C Insurance	—		(44)		(44)		—		(84)		(84)
North America Agricultural Insurance	—		—		—		—		(2)		(2)
Overseas General Insurance	5		(161)		(156)		5		(186)		(181)
Global Reinsurance	(22)		22		—		(22)		15		(7)
Corporate	88		—		88		97		—		97
Total	$	(25)	$	(243)	$	(268)	$	(62)	$	(398)	$	(460)

Commitments, contingencies, and guarantees (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022								December 31, 2021
	Consolidated Balance Sheet Location	Fair Value				Notional Value/ Payment Provision			Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)		Derivative Asset		Derivative (Liability)				Derivative Asset			Derivative (Liability)
Investment and embedded derivative instruments:
Foreign currency forward contracts	OA / (AP)	$	67	$	(153)	$	4,973		$	25		$	(139)	$	6,182
Options/Futures contracts on notes, bonds, and equities	OA / (AP)	81		(10)		5,782			33			(27)		12,944
Convertible securities (1)	FM AFS / ES	17		—		22			11			—		12
		$	165	$	(163)	$	10,777		$	69		$	(166)	$	19,138
Other derivative instruments:
Futures contracts on equities (2)	OA / (AP)	$	39	$	—	$	772		$	—		$	(16)	$	905
Other	OA / (AP)	21		—		304			—			—		3
		$	60	$	—	$	1,076		$	—		$	(16)	$	908
GLB (3)	(AP)	$	—	$	(832)	$	2,086		$	—		$	(745)	$	1,432

(1)Includes fair value of embedded derivatives.

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

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

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

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


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars)	2022		2021		2022		2021
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(214)	$	(6)	$	(268)	$	(22)

All other futures contracts, options, and equities	134		(86)		236		39
Convertible securities (1)	(1)		1		(2)		1

Total investment and embedded derivative instruments	$	(81)	$	(91)	$	(34)	$	18
GLB and other derivative instruments:
GLB	$	(143)	$	(8)	$	(108)	$	311
Futures contracts on equities (2)	144		(64)		186		(108)
Other	9		3		10		2
Total GLB and other derivative instruments	$	10	$	(69)	$	88	$	205
	$	(71)	$	(160)	$	54	$	223

(1)Includes embedded derivatives.

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

Transfer of Certain Financial Assets Accounted for as Secured Borrowings

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


	Remaining contractual maturity

	June 30, 2022		December 31, 2021
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	914	$	931
U.S. Treasury / Agency	131		128
Non-U.S.	577		752
Corporate and asset-backed securities	33		12
Mortgage-backed securities	—		1

Equity securities	3		7

	$	1,658	$	1,831
Gross amount of recognized liability for securities lending payable	$	1,658	$	1,831

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


	Remaining contractual maturity
	June 30, 2022						December 31, 2021
	30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)
Collateral pledged under repurchase agreements:
Cash	$	21	$	24	$	45	$	—	$	29	$	29
U.S. Treasury / Agency	104		—		104		103		—		103

Corporate securities	8		—		8		—		—		$	—
Mortgage-backed securities	1,521		1,904		3,425		—		1,288		1,288
	$	1,654	$	1,928	$	3,582	$	103	$	1,317	$	1,420
Gross amount of recognized liabilities for repurchase agreements					$	3,411					$	1,406
Difference (1)					$	171					$	14

(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, 2022

Stockholders' Equity Note [Abstract]

Share Repurchase Program [Table Text Block]

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


	Three Months Ended				Six Months Ended				July 1, 2022 through July 28, 2022
			June 30				June 30
(in millions of U.S. dollars, except share data)	2022		2021		2022		2021
Number of shares repurchased	5,476,300		11,355,400		10,346,200		14,465,400		1,513,728
Cost of shares repurchased	$	1,129	$	1,921	$	2,130	$	2,440	$	281
Repurchase authorization remaining at end of period (1)	$	2,500	$	65	$	2,500	$	65	$	2,220

(1) As of June 30, 2022, $522 million expired under the July 2021 $5.0 billion share repurchase authorization.

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
	2022			2021			2022			2021
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.80	$	0.83	0.71	$	0.80	1.54	$	1.63	1.41	$	1.58

Postretirement benefits (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

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


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2022				2021				2022		2021
Three Months Ended June 30	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
(in millions of U.S. dollars)
Service cost	$	—	$	1	$	—	$	1	$	—	$	—
Non-service cost (benefit):
Interest cost	22		6		17		4		1		—
Expected return on plan assets	(71)		(11)		(63)		(11)		(1)		—
Amortization of net actuarial loss	—		—		—		1		—		—
Amortization of prior service cost	—		—		—		—		—		(6)

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(49)		(5)		(46)		(6)		—		(6)
Net periodic benefit cost (benefit)	$	(49)	$	(4)	$	(46)	$	(5)	$	—	$	(6)


	Pension Benefit Plans								Other Postretirement Benefit Plans
	2022				2021				2022		2021
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	$	—	$	2	$	—	$	2	$	—	$	—
Non-service cost (benefit):
Interest cost	43		12		35		9		1		—
Expected return on plan assets	(142)		(22)		(127)		(22)		(1)		—
Amortization of net actuarial loss	—		—		—		2		—		—
Amortization of prior service cost	—		—		—		—		—		(26)

Settlements	—		—		—		—		—		—
Total non-service cost (benefit)	(99)		(10)		(92)		(11)		—		(26)
Net periodic benefit cost (benefit)	$	(99)	$	(8)	$	(92)	$	(9)	$	—	$	(26)

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


	Pension Benefit Plans				Other Postretirement Benefit Plans
Three Months Ended June 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	1		1		—		—
Total service cost	1		1		—		—
Non-service cost (benefit):
Losses and loss expenses	(5)		(4)		—		(1)
Administrative expenses	(49)		(48)		—		(5)
Total non-service cost (benefit)	(54)		(52)		—		(6)
Net periodic benefit cost (benefit)	$	(53)	$	(51)	$	—	$	(6)


	Pension Benefit Plans				Other Postretirement Benefit Plans
Six Months Ended June 30	2022		2021		2022		2021
(in millions of U.S. dollars)
Service cost:
Losses and loss expenses	$	—	$	—	$	—	$	—
Administrative expenses	2		2		—		—
Total service cost	2		2		—		—
Non-service cost (benefit):
Losses and loss expenses	(10)		(9)		—		(3)
Administrative expenses	(99)		(94)		—		(23)
Total non-service cost (benefit)	(109)		(103)		—		(26)
Net periodic benefit cost (benefit)	$	(107)	$	(101)	$	—	$	(26)

Other Income and Expense (Tables)

6 Months Ended

Jun. 30, 2022

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)	2022		2021		2022		2021
Equity in net income (loss) of partially-owned entities (1)	$	(71)	$	774	$	290	$	1,271
Gains (losses) from fair value changes in separate account assets (2)	(18)		15		(49)		19
Federal excise and capital taxes	(5)		(5)		(9)		(10)

Other	(7)		(7)		(23)		(13)
Total	$	(101)	$	777	$	209	$	1,267

(1) Equity in net income (loss) of partially-owned entities principally comprises market-to-market gain (loss) on private equities where we own more than three percent of $(134) million and $121 million for the three and six months ended June 30, 2022, respectively, and $674 million and $1,074 million, respectively, for the prior year periods. This line item also includes net income of $15 million and $55 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and six months ended June 30, 2022, respectively, compared to $49 million and $98 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, 2022

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:


For the Three Months Ended June 30, 2022 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,665	$	1,426	$	738	$	2,640	$	262	$	571	$	—	$	—	$	10,302
Net premiums earned	4,248		1,271		573		2,696		222		547		—		—		9,557
Losses and loss expenses	2,446		773		478		1,224		139		148		191		9		5,408
Policy benefits	—		—		—		—		—		177		—		(18)		159
Policy acquisition costs	545		258		31		697		57		151		—		—		1,739
Administrative expenses	277		73		2		278		10		88		90		—		818
Underwriting income (loss)	980		167		62		497		16		(17)		(281)		9		1,433
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	$	101	$	(468)	$	(9)	$	2,149
Net realized gains (losses)													(513)		9		(504)
Interest expense													134		—		134
Cigna integration expenses													3		—		3
Income tax expense													293		—		293
Net income (loss)													$	(1,411)	$	—	$	1,215


For the Three Months Ended June 30, 2021 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	4,285	$	1,363	$	512	$	2,497	$	274	$	615	$	—	$	—	$	9,546
Net premiums earned	3,803		1,224		410		2,579		192		605		—		—		8,813
Losses and loss expenses	2,426		676		331		1,186		110		185		89		3		5,006
Policy benefits	—		—		—		—		—		170		—		15		185
Policy acquisition costs	489		245		27		699		47		191		—		—		1,698
Administrative expenses	245		67		3		279		10		83		88		—		775
Underwriting income (loss)	643		236		49		415		25		(24)		(177)		(18)		1,149
Net investment income (loss)	535		64		8		149		81		101		(15)		(39)		884
Other (income) expense	14		(5)		—		2		—		(26)		(708)		(54)		(777)
Amortization expense of purchased intangibles	—		3		6		13		—		1		50		—		73
Segment income	$	1,164	$	302	$	51	$	549	$	106	$	102	$	466	$	(3)	$	2,737
Net realized gains (losses)													(36)		3		(33)
Interest expense													122		—		122
Income tax expense													317		—		317
Net income (loss)													$	(9)	$	—	$	2,265


For the Six Months Ended June 30, 2022 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	8,704	$	2,606	$	800	$	5,719	$	515	$	1,157	$	—	$	—	$	19,501
Net premiums earned	8,362		2,518		544		5,324		457		1,098		—		—		18,303
Losses and loss expenses	4,943		1,486		386		2,613		254		302		201		10		10,195
Policy benefits	—		—		—		—		—		353		—		(49)		304
Policy acquisition costs	1,118		518		43		1,376		119		302		—		—		3,476
Administrative expenses	542		142		1		547		19		172		173		—		1,596
Underwriting income (loss)	1,759		372		114		788		65		(31)		(374)		39		2,732
Net investment income (loss)	1,011		123		14		309		161		212		(9)		(111)		1,710
Other (income) expense	6		2		—		5		1		(40)		(121)		(62)		(209)
Amortization expense of purchased intangibles	—		5		13		28		—		5		91		—		142
Segment income (loss)	$	2,764	$	488	$	115	$	1,064	$	225	$	216	$	(353)	$	(10)	$	4,509
Net realized gains (losses)													(413)		10		(403)
Interest expense													266		—		266
Cigna integration expenses													3		—		3
Income tax expense													648		—		648
Net income (loss)													$	(1,683)	$	—	$	3,189


For the Six Months Ended June 30, 2021 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance		North America Agricultural Insurance		Overseas General Insurance		Global Reinsurance		Life Insurance		Corporate		Segment Measure Reclass		Chubb Consolidated



Net premiums written	$	7,949	$	2,461	$	695	$	5,387	$	481	$	1,235	$	—	$	—	$	18,208
Net premiums earned	7,477		2,408		520		5,057		372		1,200		—		—		17,034
Losses and loss expenses	4,986		1,495		416		2,449		230		383		98		2		10,059
Policy benefits	—		—		—		—		—		333		—		19		352
Policy acquisition costs	1,003		492		39		1,367		92		370		—		—		3,363
Administrative expenses	499		127		6		545		18		165		159		—		1,519
Underwriting income (loss)	989		294		59		696		32		(51)		(257)		(21)		1,741
Net investment income (loss)	1,075		129		15		290		151		199		(32)		(80)		1,747
Other (income) expense	16		(4)		—		3		—		(60)		(1,123)		(99)		(1,267)
Amortization expense of purchased intangibles	—		6		13		25		—		2		99		—		145
Segment income	$	2,048	$	421	$	61	$	958	$	183	$	206	$	735	$	(2)	$	4,610
Net realized gains (losses)													852		2		854
Interest expense													244		—		244
Income tax expense													655		—		655
Net income													$	688	$	—	$	4,565

Earnings per share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended				Six Months Ended
	June 30				June 30
(in millions of U.S. dollars, except share and per share data)	2022		2021		2022		2021
Numerator:
Net income	$	1,215	$	2,265	$	3,189	$	4,565
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	421,624,660		445,094,678		423,703,328		447,802,079
Denominator for diluted earnings per share:
Share-based compensation plans	3,793,686		2,857,242		3,982,116		2,900,440
Weighted-average shares outstanding and assumed conversions	425,418,346		447,951,920		427,685,444		450,702,519
Basic earnings per share	$	2.88	$	5.09	$	7.53	$	10.20
Diluted earnings per share	$	2.86	$	5.06	$	7.46	$	10.13
Potential anti-dilutive share conversions	1,690,893		1,777,555		1,196,180		1,879,882

General Schedule of Cash and Cash Equivalent (Details) - USD ($)
$ in Millions

Jul. 01, 2022

Jun. 30, 2022

Dec. 31, 2021

Jun. 30, 2021

Dec. 31, 2020

Cash and Cash Equivalents [Line Items]

Cash

$ 7,122

^[1]

$ 1,659

Restricted cash

117

152

Total cash and restricted cash shown in the Consolidated statement of cash flows

$ 7,239

$ 1,811

$ 1,998

$ 1,836

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

Cash and Cash Equivalents [Line Items]

Payments to Acquire Businesses, Gross

$ 5,360

[1]	On July 1, 2022, we paid $5.36 billion for the acquisition of Cigna's life and non-life insurance companies in six Asia-Pacific markets. Refer to Note 2 for additional information

General Goodwill (Details) $ in Millions	6 Months Ended
General Goodwill (Details) $ in Millions	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Period Increase (Decrease)	$ (168)

General Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ (51,667)		$ (59,714)	$ (60,062)
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ (48,363)	$ (47,148)	$ (47,365)	$ (43,902)	$ (41,637)	$ (39,337)

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Acquisitions (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
Acquisitions (Details) - USD ($) $ in Millions	Jul. 01, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022
Cigna's Life Insurance Business in Asia-Pacific Markets [Member] \| Subsequent Event [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Jul. 01, 2022
Payments to Acquire Businesses, Gross	$ 5,360
Huatai Group [Member]
Business Acquisition [Line Items]
Equity method investment, additional 31.8 percent agreed on			31.80%
Purchase of incremental ownership interest			$ 2,200
Deposits Assets			$ 1,100
Payment to acquire additional ownership interest in equity method investment		$ 113		$ 500
Equity method investment, additional 7.1 percentage agreed on				7.10%
Huatai Group [Member] \| Direct ownership
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage					47.30%

Investments (Narrative) (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments [Line Items]
Restricted assets in fixed maturities and short-term investments	$ 17,392	$ 17,092
Restricted assets in cash	117	$ 152
Investments
Investments [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 485

Investments (Schedule Of Amortized Cost and Fair Value of Available-for-sale Securities) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 88,516		$ 90,493
Debt Securities, Available-for-sale, Allowance for Credit Loss	(78)	$ (27)	(14)	$ (11)	$ (15)	$ (20)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	260		3,220
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(6,629)		(591)
Available for sale, Fair Value	82,069		93,108
U.S. Treasury / Agency
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	2,248		2,111
Debt Securities, Available-for-sale, Allowance for Credit Loss	0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	9		109
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(80)		(6)
Available for sale, Fair Value	2,177		2,214
Non-U.S.
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	24,646		25,156
Debt Securities, Available-for-sale, Allowance for Credit Loss	(32)		(8)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	164		953
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,961)		(272)
Available for sale, Fair Value	22,817		25,829
Corporate and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	38,166		37,844
Debt Securities, Available-for-sale, Allowance for Credit Loss	(45)		(6)
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	59		1,410
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(3,133)		(185)
Available for sale, Fair Value	35,047		39,063
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	18,654		20,080
Debt Securities, Available-for-sale, Allowance for Credit Loss	(1)		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	10		532
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(1,328)		(123)
Available for sale, Fair Value	17,335		20,489
Municipal
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	4,802		5,302
Debt Securities, Available-for-sale, Allowance for Credit Loss	0		0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	18		216
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before tax	(127)		(5)
Available for sale, Fair Value	$ 4,693		$ 5,513

Investments (Schedule Of Amortized Cost And Fair Value Of HTM Fixed Maturities And Related OTTI Recognized In Accumulated Other Comprehensive Income) (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	$ 9,566		$ 10,153
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(34)	$ (34)	(35)	$ (37)	$ (43)	$ (44)
Debt securities, held to maturity, net carrying value	9,532		10,118
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	18		533
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(217)		(4)
Held to maturity, at Fair Value	9,333		10,647
U.S. Treasury / Agency
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,298		1,213
Debt Securities, Held-to-maturity, Allowance for Credit Loss	0		0
Debt securities, held to maturity, net carrying value	1,298		1,213
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	4		34
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(29)		(3)
Held to maturity, at Fair Value	1,273		1,244
Non-U.S.
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,112		1,201
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(4)		(5)
Debt securities, held to maturity, net carrying value	1,108		1,196
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	2		66
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(39)		0
Held to maturity, at Fair Value	1,071		1,262
Corporate and asset-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,844		2,032
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(28)		(28)
Debt securities, held to maturity, net carrying value	1,816		2,004
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	3		197
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(73)		0
Held to maturity, at Fair Value	1,746		2,201
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	1,651		1,731
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(1)		(1)
Debt securities, held to maturity, net carrying value	1,650		1,730
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	1		74
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(53)		(1)
Held to maturity, at Fair Value	1,598		1,803
Municipal
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Held-to-maturity	3,661		3,976
Debt Securities, Held-to-maturity, Allowance for Credit Loss	(1)		(1)
Debt securities, held to maturity, net carrying value	3,660		3,975
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain	8		162
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss	(23)		0
Held to maturity, at Fair Value	$ 3,645		$ 4,137

Investments (held-to-maturity credit quality indicator) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 9,566	$ 10,153
Fixed Maturities Percent of Total Amortized cost	100.00%	100.00%
Standard & Poor's, AAA Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 1,883	$ 2,089
Fixed Maturities Percent of Total Amortized cost	20.00%	21.00%
Standard & Poor's, AA Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 5,273	$ 5,303
Fixed Maturities Percent of Total Amortized cost	55.00%	52.00%
Standard & Poor's, A Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 1,740	$ 1,964
Fixed Maturities Percent of Total Amortized cost	18.00%	19.00%
Standard & Poor's, BBB Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 647	$ 773
Fixed Maturities Percent of Total Amortized cost	7.00%	8.00%
Standard & Poor's, BB Rating [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 23	$ 23
Fixed Maturities Percent of Total Amortized cost	0.00%	0.00%
Other [Member]
Debt Securities, Held-to-maturity, Credit Quality Indicator [Line Items]
Debt Securities, Held-to-maturity	$ 0	$ 1
Fixed Maturities Percent of Total Amortized cost	0.00%	0.00%

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Available for sale, Due in 1 year or less, Fair Value & Net Carrying Value	$ 4,086	$ 4,498
Available for sale, Due after 1 year through 5 years, Fair Value & Net Carrying Value	23,265	25,542
Available for sale, Due after 5 years through 10 years, Fair Value & Net Carrying Value	25,273	28,207
Available for sale, Due after 10 years, Fair Value & Net Carrying Value	12,110	14,372
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	64,734	72,619
Available for sale, Mortgage backed securities, Fair Value & Net Carrying Value	17,335	20,489
Available for sale, Fair Value	82,069	93,108
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, within one year, net carrying value	925	888
Held to maturity, Due in 1 year or less, Fair Value	921	894
Held-to-maturity, after one through five years, net carrying value	3,660	3,744
Held to maturity, Due after 1 year through 5, Fair Value	3,605	3,846
Held-to-maturity, after 5 through 10 years, net carrying value	1,844	2,242
Held to maturity, Due after 5 years through 10 years, Fair Value	1,823	2,349
Held-to-maturity, after 10 years, net carrying value	1,453	1,514
Held to maturity, Due after 10 years, Fair Value	1,386	1,755
Debt securities, Held-to-maturity, maturity, allocated and single maturity date, net carrying value	7,882	8,388
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value	7,735	8,844
Held-to-maturity, MBS, net carrying value	1,650	1,730
Held to maturity, Mortgage backed securities, Fair Value	1,598	1,803
Debt securities, held to maturity, net carrying value	9,532	10,118
Held to maturity, Fair Value	$ 9,333	$ 10,647

Investments (Aggregate Fair Value And Gross Unrealized Loss By Length Of Time Security Has Continuously Been In Unrealized Loss Position) (Detail) - Fixed Maturities [Member] - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 62,944	$ 25,041
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(5,004)	(465)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	5,372	2,159
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(737)	(104)
Debt Securities, Available-for-sale, Unrealized Loss Position	68,316	27,200
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(5,741)	(569)
U.S. Treasury / Agency
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,707	363
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(70)	(3)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	95	70
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(10)	(3)
Debt Securities, Available-for-sale, Unrealized Loss Position	1,802	433
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(80)	(6)
Non-U.S.
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	15,832	6,917
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,331)	(196)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	2,578	1,093
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(334)	(62)
Debt Securities, Available-for-sale, Unrealized Loss Position	18,410	8,010
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,665)	(258)
Corporate and asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	27,714	9,449
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(2,346)	(145)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,395	806
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(204)	(32)
Debt Securities, Available-for-sale, Unrealized Loss Position	29,109	10,255
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(2,550)	(177)
Mortgage-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	15,048	8,086
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(1,140)	(116)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,294	190
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(187)	(7)
Debt Securities, Available-for-sale, Unrealized Loss Position	16,342	8,276
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	(1,327)	(123)
Municipal
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	2,643	226
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(117)	(5)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	10	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	(2)	0
Debt Securities, Available-for-sale, Unrealized Loss Position	2,653	226
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ (119)	$ (5)

Investments (Rollforward of expected credit-losses, AFS) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 78	$ 11	$ 78	$ 11	$ 27	$ 14	$ 15	$ 20
Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease)	61	1	78	5
Debt Securities, Available-for-sale, Allowance for Credit Loss, Recovery	$ (10)	$ (5)	$ (14)	$ (14)

Investments (Rollforward of expected credit losses HTM) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Debt Securities, Held-to-maturity, Allowance for Credit Loss	$ 34	$ 37	$ 34	$ 37	$ 34	$ 35	$ 43	$ 44
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Period Increase (Decrease)	1	0	1	0
Debt Securities, Held-to-maturity, Allowance for Credit Loss, Recovery	$ (1)	$ (6)	$ (2)	$ (7)

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, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

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

$ 61

$ 1

$ 78

$ 5

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

(442)

12

(578)

36

Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI)

(504)

(33)

(403)

854

Foreign exchange

268

(97)

343

(21)

Fair Value on Insurance Derivatives

(143)

(8)

(108)

311

(71)

(160)

54

223

Fixed Maturities [Member]

0

^[1]

0

(74)

(1)

Debt Securities, Available-for-sale, Realized Gain

362

56

401

93

Debt Securities, Available-for-sale, Realized Loss

(700)

(53)

(827)

(72)

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

(51)

10

(63)

16

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

(53)

^[2]

(1)

(89)

(1)

Equity Securities [Member]

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

(263)

150

(207)

517

Other Investments [Member]

Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI)

4

62

59

100

Other derivative instruments

Investment and embedded derivative instruments

9

3

10

2

S&P put options and futures

(81)

(91)

(34)

18

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

$ 144

$ (64)

$ 186

$ (108)

[1]	Other realized losses include impairment of assets related to Chubb's Russian entities.
[2]	Relates to certain securities we intended to sell and securities written to market entering default.

Investments Schedule of Gains and Losses on Equity and Other Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Gain (Loss) on Securities [Line Items]
Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI)	$ (504)	$ (33)	$ (403)	$ 854
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	(263)	150	(207)	517
Less: Net gains (losses) recognized from sales of securities	163	45	418	90
Unrealized Gain (Loss) on Investments	(426)	105	(625)	427
Other Investments [Member]
Gain (Loss) on Securities [Line Items]
Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI)	4	62	59	100
Less: Net gains (losses) recognized from sales of securities	0	0	0	0
Unrealized Gain (Loss) on Investments	4	62	59	100
Equity securities and other investments [Member]
Gain (Loss) on Securities [Line Items]
Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI)	(259)	212	(148)	617
Less: Net gains (losses) recognized from sales of securities	163	45	418	90
Unrealized Gain (Loss) on Investments	$ (422)	$ 167	$ (566)	$ 527

Investments Entities that Calculate Net Asset Value Per Share (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	$ 7,364		$ 7,153
Alternative Investment	11,238		10,108
Financial [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	530		267
Alternative Investment	1,144		1,096
Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	586		766
Alternative Investment	1,749		1,193
Distressed Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	823		641
Alternative Investment	992		753
Private Credit Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	280		279
Alternative Investment	71		84
Private Equity Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	5,145		5,200
Alternative Investment	6,911		6,647
Vintage Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	0		0
Alternative Investment	54		68
Investment Funds Alternative Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Unfunded Commitments	0		0
Alternative Investment	$ 317		$ 267
Minimum [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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 [Member] \| 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, 2022	Dec. 31, 2021
Investments [Line Items]
Total restricted assets	$ 17,509	$ 17,244
Asset Pledged as Collateral without Right
Investments [Line Items]
Trust funds	7,927	9,915
Deposits with U.S. regulatory authorities	2,317	2,402
Deposits with non-U.S. regulatory authorities	2,964	2,873
Assets pledged under repurchase agreements	3,582	1,420
Other pledged assets	$ 719	$ 634

Fair Value Measurements (Financial Instruments Measured At Fair Value On Recurring Basis) (Detail) - USD ($)
$ in Millions

Jun. 30, 2022

Dec. 31, 2021

$ 82,069

$ 93,108

Short-term investments, at fair value (amortized cost – $3,433 and $3,147)

2,649

4,782

3,431

3,146

12,168

11,169

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

1,658

1,831

U.S. Treasury / Agency

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

2,177

2,214

Non-U.S.

Corporate and asset-backed securities

22,817

25,829

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

Mortgage-backed securities

35,047

39,063

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

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

17,335

20,489

Municipal

Fair Value, Recurring [Member] | Level 1

4,693

5,513

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

1,657

1,680

Short-term investments, at fair value (amortized cost – $3,433 and $3,147)

2,568

4,705

2,043

1,744

235

^[1]

286

^[2]

0

148

58

60

4,739

5,461

11,450

^[1]

13,934

^[2]

163

166

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

16

163

182

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

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

1,657

1,680

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

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

0

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

Fair Value, Recurring [Member] | Level 1 | Mortgage-backed securities

0

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

Fair Value, Recurring [Member] | Level 1 | Municipal

0

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

Fair Value, Recurring [Member] | Level 1 | GLB

0

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

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

0

^[3]

0

^[4]

Fair Value, Recurring [Member] | Level 2

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

77,583

88,720

Short-term investments, at fair value (amortized cost – $3,433 and $3,147)

0

1,379

1,395

400

^[1]

481

^[2]

1,658

1,831

0

0

86

99

81,106

^[1]

92,526

^[2]

0

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

0

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

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

520

534

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

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

22,268

25,196

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

Fair Value, Recurring [Member] | Level 2 | Mortgage-backed securities

32,786

37,014

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

Fair Value, Recurring [Member] | Level 2 | Municipal

17,316

20,463

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

Fair Value, Recurring [Member] | Level 2 | GLB

4,693

5,513

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

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

0

^[3]

0

^[4]

Fair Value, Recurring [Member] | Level 3

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

2,829

2,708

Short-term investments, at fair value (amortized cost – $3,433 and $3,147)

81

77

9

7

0

^[1]

0

^[2]

0

0

0

0

2,919

^[1]

2,792

^[2]

0

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

0

832

745

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

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

0

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

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

549

633

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

Fair Value, Recurring [Member] | Level 3 | Mortgage-backed securities

2,261

2,049

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

Fair Value, Recurring [Member] | Level 3 | Municipal

19

26

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

Fair Value, Recurring [Member] | Level 3 | GLB

0

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

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

^[5]

832

745

^[4]

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member]

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

82,069

93,108

Short-term investments, at fair value (amortized cost – $3,433 and $3,147)

2,649

4,782

3,431

3,146

635

^[1]

767

^[2]

1,658

1,831

148

58

60

4,825

5,560

95,475

^[1]

109,252

^[2]

163

166

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | U.S. Treasury / Agency

16

995

927

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

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Non-U.S.

2,177

2,214

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

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Corporate and asset-backed securities

22,817

25,829

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

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed securities

35,047

39,063

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

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Municipal

17,335

20,489

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

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | GLB

4,693

5,513

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

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

832

^[3]

745

^[4]

Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member]

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

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

11,238

10,108

Policy Loans [Member]

Other Investments [Member]

245

243

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

Weighted Average [Member]

$ 50

$ 51

[1]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $11,238 million, policy loans of $245 million and other investments of $50 million at June 30, 2022 measured using NAV as a practical expedient.
[2]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $10,108 million, policy loans of $243 million and other investments of $51 million at December 31, 2021 measured using NAV as a practical expedient.
[3]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
[4]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value.
[5]	The weighted-average lapse and annuitization rates are determined by weighting each treaty's rates by the GLB contracts fair value.

Fair Value Measurements (Schedule Of Significant Unobservable Inputs Used In Level 3 Liability Valuations) (Detail) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2022

Dec. 31, 2021

^[2]

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]

4.40%

Minimum [Member]

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

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

3.00%

Significant Unobservable Inputs Annuitization Rate

0.00%

Maximum [Member]

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

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

31.00%

Significant Unobservable Inputs Annuitization Rate

100.00%

Level 3 | Fair Value, Recurring [Member] | GLB

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

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

^[1]

$ 832

$ 745

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

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

3 Months Ended

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

Equity Securities [Member]

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

$ 82

$ 75

$ 77

$ 73

0

1

0

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

0

0

0

5

4

7

0

4

3

7

(1)

(6)

(4)

(9)

0

0

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

81

78

81

78

(1)

4

3

6

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

0

Short-term Investments [Member]

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

4

1

7

5

0

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

0

0

0

5

2

7

3

0

0

(5)

0

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

9

3

9

3

0

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

0

Other Investments [Member]

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

10

0

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

0

0

0

0

0

0

0

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

10

0

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

0

Available-for-sale Securities [Member] | Non-U.S.

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

618

650

633

546

5

0

23

0

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

0

(10)

(23)

(10)

(41)

5

(54)

13

0

3

(2)

3

26

54

69

175

(19)

(9)

(25)

(16)

(40)

(51)

(72)

(69)

0

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

549

642

549

642

0

(2)

0

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

(41)

7

(54)

17

Available-for-sale Securities [Member] | Corporate and asset-backed securities

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

2,229

1,612

2,049

1,573

10

29

39

46

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

(43)

(3)

(93)

(3)

(30)

6

(52)

12

0

6

0

3

179

240

494

409

(24)

(50)

(51)

(75)

(60)

(152)

(125)

(277)

0

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

2,261

1,688

2,261

1,688

(1)

6

(1)

3

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

(30)

6

(52)

17

Available-for-sale Securities [Member] | Mortgage-backed securities

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

20

51

26

60

0

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

0

(5)

0

0

0

0

1

0

1

0

(1)

0

(1)

(1)

(4)

(2)

(13)

0

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

19

47

19

47

0

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

0

Guaranteed Minimum Income Benefit [Member]

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

Balance - Beginning of Period, Liabilities

696

^[1]

760

^[2]

745

^[2]

1,089

^[2]

Transfers into level 3, liability

0

Transfers out of Level 3, Liabilities

0

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

0

Net Realized Gains/(Losses), Liabilities

143

^[1]

8

^[2]

108

^[2]

(311)

^[2]

Purchases, Liabilities

0

Sales, Liabilities

0

Settlements, Liabilities

0

Other, Liabilities

(7)

^[1]

(8)

^[2]

(21)

^[2]

(18)

^[2]

Balance - End of Period, Liabilities

832

^[1]

760

^[2]

832

^[1]

760

^[2]

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

143

^[1]

8

^[2]

108

^[2]

(311)

^[2]

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

$ 0

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

Fair Value Measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	$ 9,333	$ 10,647
Debt Securities, Held-to-maturity	9,566	10,153
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,411	1,406
Short-term debt	1,474	999
Long-term debt	14,311	15,169
Total liabilities	143,984	140,340
Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,198	1,192
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-term Debt, Fair Value	0	0
Long-term Debt, Fair Value	0	0
Trust preferred securities	0	0
Total liabilities	0	0
Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	8,135	9,455
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,411	1,406
Short-term Debt, Fair Value	1,473	1,019
Long-term Debt, Fair Value	13,122	16,848
Trust preferred securities	395	460
Total liabilities	18,401	19,733
Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	0	0
Short-term Debt, Fair Value	0	0
Long-term Debt, Fair Value	0	0
Trust preferred securities	0	0
Total liabilities	0	0
Estimate of Fair Value Measurement [Member]
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,411	1,406
Short-term Debt, Fair Value	1,473	1,019
Long-term Debt, Fair Value	13,122	16,848
Trust preferred securities	395	460
Total liabilities	18,401	19,733
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	9,532	10,118
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	3,411	1,406
Short-term debt	1,474	999
Long-term debt	14,311	15,169
Trust preferred securities	308	308
Total liabilities	19,504	17,882
U.S. Treasury / Agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,273	1,244
Debt Securities, Held-to-maturity	1,298	1,213
U.S. Treasury / Agency \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,198	1,192
U.S. Treasury / Agency \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	75	52
U.S. Treasury / Agency \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
U.S. Treasury / Agency \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,298	1,213
Non-U.S.
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,071	1,262
Debt Securities, Held-to-maturity	1,112	1,201
Non-U.S. \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Non-U.S. \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,071	1,262
Non-U.S. \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Non-U.S. \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,108	1,196
Corporate and asset-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,746	2,201
Debt Securities, Held-to-maturity	1,844	2,032
Corporate and asset-backed securities \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Corporate and asset-backed securities \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,746	2,201
Corporate and asset-backed securities \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Corporate and asset-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,816	2,004
Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,598	1,803
Debt Securities, Held-to-maturity	1,651	1,731
Mortgage-backed securities \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Mortgage-backed securities \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	1,598	1,803
Mortgage-backed securities \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Mortgage-backed securities \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,650	1,730
Municipal
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	3,645	4,137
Debt Securities, Held-to-maturity	3,661	3,976
Municipal \| Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Municipal \| Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	3,645	4,137
Municipal \| Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Held to maturity, Fair Value	0	0
Municipal \| Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	$ 3,660	$ 3,975

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

Jun. 30, 2022

Dec. 31, 2021

Jun. 30, 2021

Dec. 31, 2020

Reinsurance Disclosures [Abstract]

Reinsurance recoverable on unpaid losses and loss expenses

^[1]

$ 16,573

$ 16,184

$ 14,721

$ 14,647

Reinsurance recoverable on paid losses and loss expenses

^[1]

1,204

1,182

Reinsurance recoverable on losses and loss expenses

^[1]

17,777

17,366

Reinsurance recoverable on policy benefits

^[1]

205

213

Reinsurance Recoverables on Unpaid Losses, Allowance

283

271

Reinsurance Recoverables on Paid Losses, Allowance

58

Reinsurance Recoverable, Allowance for Credit Loss, Total

341

329

$ 322

$ 314

Reinsurance Recoverables on Future Policy Benefits, Allowance

$ 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, 2022	Jun. 30, 2021
Reinsurance Disclosures [Abstract]
Valuation allowance for uncollectible reinsurance - beginning of period	$ 329	$ 314
Provision for uncollectible reinsurance	17	9
Write-offs charged against the valuation allowance	(4)	(1)
Foreign exchange revaluation	(1)	0
Valuation allowance for uncollectible reinsurance - end of period	$ 341	$ 322

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

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Unpaid Losses and Loss Expenses [Roll Forward]

Gross unpaid losses and loss expenses – beginning of period

$ 72,943

$ 67,811

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

^[1]

(16,184)

(14,647)

Net unpaid losses and loss expenses – beginning of period

56,759

53,164

Current Year Claims and Claims Adjustment Expense

10,846

10,546

Prior Year Claims and Claims Adjustment Expense

^[2]

(651)

(487)

Total, Incurred

10,195

10,059

Net loss and loss expenses paid, Current Year

2,281

2,355

Net loss and loss expenses paid, Prior Years

6,566

5,531

Total, Paid

8,847

7,886

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

(588)

231

Net unpaid losses and loss expenses – end of period

57,519

55,568

Reinsurance recoverable on unpaid losses (1)

^[1]

16,573

14,721

Gross unpaid losses and loss expenses – end of period

74,092

70,289

prior period development, net adjustments

164

$ 27

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

1,149

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

$ 760

[1]	Net of valuation allowance for uncollectible reinsurance.
[2]	Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments and earned premiums totaling $164 million and $27 million for the six months ended June 30, 2022 and 2021, 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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (247)	$ (268)	$ (487)	$ (460)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(287)	(156)	(395)	(283)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(44)		(84)
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	(26)	(2)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(156)		(181)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	25	0	22	(7)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(165)	(243)	(393)	(398)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(21)	(60)	(109)	(141)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(3)	(44)	(54)	(84)
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	(26)	(2)
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(173)	(161)	(233)	(186)
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	32	22	29	15
Short Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	0	0
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(82)	(25)	(94)	(62)
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(266)	(96)	(286)	(142)
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	5	0	5
Long Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(7)	(22)	(7)	(22)
Long Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 191	$ 88	$ 199	$ 97

Unpaid losses and loss expenses Unpaid losses and loss expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (247)	$ (268)	$ (487)	$ (460)
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(82)	(25)	(94)	(62)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(165)	(243)	(393)	(398)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(287)	(156)	(395)	(283)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(266)	(96)	(286)	(142)
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(21)	(60)	(109)	(141)
North America Commercial P&C Insurance [Member] \| Surety Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(41)
North America Commercial P&C Insurance [Member] \| Workers' Compensation Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(137)		(158)
North America Commercial P&C Insurance [Member] \| Short-Duration Insurance Contract, Accident Year 2020 \| Surety Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(35)
North America Commercial P&C Insurance [Member] \| Short-Duration Insurance Contract, Accident Year 2020 \| Workers' Compensation Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(36)
North America Commercial P&C Insurance [Member] \| Accident years 2017 and prior \| General Liability [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(132)	(45)	(136)
North America Commercial P&C Insurance [Member] \| Accident years 2020 and 2021 [Member] \| Accident and Health Insurance Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(78)
North America Commercial P&C Insurance [Member] \| Short-Duration Insurance Contract, Accident Year 2021 [Member] \| Workers' Compensation Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(59)
North America Commercial P&C Insurance [Member] \| Accident years 2018 - 2020 [Member] \| Surety Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(89)
North America Commercial P&C Insurance [Member] \| Accident years 2018 - 2021 [Member] \| Auto Liability [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	123		116
North America Commercial P&C Insurance [Member] \| Accident years 2018 - 2021 [Member] \| Commercial Excess Auto Liability [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	90
North America Commercial P&C Insurance [Member] \| Accident years 2021, 2017 and prior [Member] \| Workers' Compensation Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(286)		(328)
North America Commercial P&C Insurance [Member] \| Accident years 2017 and 2019 [Member] \| Auto Liability [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		76		74
North America Agricultural Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	0	(26)	(2)
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	0	0	(26)	(2)
Corporate Segment [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	191	88	199	97
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] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			155	68
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(156)		(181)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	5	0	5
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(173)	(161)	(233)	(186)
Overseas General Insurance [Member] \| Short-Duration Insurance Contract, Accident Year 2020 \| Property, Liability and Casualty Insurance Product Line \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(21)
Overseas General Insurance [Member] \| Accident Years 2019 - 2020 \| Accident and Health Insurance Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(49)		(55)
Overseas General Insurance [Member] \| Accident Years 2019 - 2020 \| Property, Liability and Casualty Insurance Product Line \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(50)		(58)
Overseas General Insurance [Member] \| Accident years 2020 and 2021 [Member] \| Personal Lines \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(41)		(53)
Overseas General Insurance [Member] \| Accident years 2018 - 2020 [Member] \| Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(31)
Overseas General Insurance [Member] \| Accident years 2019 - 2021 [Member] \| Accident and Health Insurance Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(53)		(75)
Overseas General Insurance [Member] \| Accident years 2019 - 2021, 2018 and prior [Member] \| Property, Liability and Casualty Insurance Product Line \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(44)		(67)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(44)		(84)
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	(3)	(44)	(54)	(84)
North America Personal P&C Insurance [Member] \| Short-Duration Insurance Contract, Accident Year 2021 [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(3)		(54)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	25	0	22	(7)
Global Reinsurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(7)	(22)	(7)	(22)
Global Reinsurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 32	$ 22	29	$ 15
Global Reinsurance [Member] \| Accident years 2020 and 2021 [Member] \| Property, Liability and Casualty Insurance Product Line \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			$ 32

Commitments, Contingencies, And Guarantees (Narrative) (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative liability subject to a master netting agreement	$ 46	$ 123
Repurchase agreements	3,411	1,406
Purchase Commitment, Remaining Minimum Amount Committed	632	771
Carrying value of limited partnerships and partially-owned investment companies included in other investments	10,900	9,800
Funding commitments relating to limited partnerships and partially-owned investment companies	7,400	7,200
Unrecognized tax benefits	58
Operating Lease, Right-of-Use Asset	433	445
Operating Lease, Liability	$ 461	$ 484
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities	Other Liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	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, 2022

Dec. 31, 2021

Foreign currency forward contracts

Options/Futures contracts on notes, bonds, and equities

$ 4,973

$ 6,182

5,782

12,944

Convertible securities

Total investment and embedded derivative instruments

^[1]

22

12

165

69

(163)

(166)

Futures contracts on equities

10,777

19,138

^[2]

772

905

Other Derivative Instruments [Member]

304

3

Guaranteed Minimum Income Benefit [Member]

1,076

908

^[3]

0

Other Assets [Member] | Foreign currency forward contracts

^[3]

2,086

1,432

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

67

25

Other Assets [Member] | Futures contracts on equities

81

33

Other Assets [Member] | Other

^[2]

39

0

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

21

0

Fixed Maturities [Member] | Convertible securities

60

0

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

^[1]

17

11

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

(153)

(139)

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

(10)

(27)

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

^[2]

0

(16)

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

0

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

0

(16)

Equity Securities [Member] | Convertible securities

^[3]

(832)

(745)

Derivative Instruments, Gain (Loss) [Line Items]

^[1]

$ 0

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

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

3 Months Ended

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

Foreign currency forward contracts

$ (71)

$ (160)

$ 54

$ 223

Derivative Instruments, Gain (Loss) [Line Items]

All Other Futures Contracts, Options and equities [Member]

(214)

(6)

(268)

(22)

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

134

(86)

236

39

Convertible securities

Total investment and embedded derivative instruments

^[1]

(1)

1

(2)

1

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

(81)

(91)

(34)

18

GLB

Futures contracts on equities

(143)

(8)

(108)

311

Derivative Instruments, Gain (Loss) [Line Items]

^[2]

144

(64)

186

(108)

Derivative Instruments, Gain (Loss) [Line Items]

Guaranteed Living Benefit And Other Derivative Instruments [Member]

9

3

10

2

Derivative Instruments, Gain (Loss) [Line Items]

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

$ 10

$ (69)

$ 88

$ 205

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

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 1,658	$ 1,831
Securities lending payable	1,658	1,831
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	914	931
U.S. Treasury / Agency \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	131	128
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	577	752
Corporate and asset-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	33	12
Mortgage-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	0	1
Equity Securities [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 3	$ 7

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

Jun. 30, 2022

Dec. 31, 2021

Repurchase agreements

$ 3,411

$ 1,406

Asset Pledged as Collateral without Right

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

Cash [Member] | Asset Pledged as Collateral without Right

3,582

1,420

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

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

45

29

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

Mortgage-backed securities | Asset Pledged as Collateral without Right

104

103

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

Repurchase Agreements [Member]

3,425

1,288

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

Secured Borrowings, Gross, Difference, Amount

^[1]

171

14

Corporate and asset-backed securities | Asset Pledged as Collateral without Right

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

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

8

0

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

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

1,654

103

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

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

21

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

104

103

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

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

1,521

0

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

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

8

0

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

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

1,928

1,317

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

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

24

29

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

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

0

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

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

1,904

1,288

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

Nov 2019 Stock Repurchase Plan [Member]

$ 0

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

Shareholders' equity (Details)		3 Months Ended	6 Months Ended
Shareholders' equity (Details)	Jan. 17, 2022 shares	Jun. 30, 2021 shares	Jun. 30, 2022 SFr / shares shares	May 19, 2022 $ / shares	Dec. 31, 2021 SFr / shares shares	May 20, 2021 $ / shares	May 20, 2020 $ / shares
Stockholders' Equity Note [Abstract]
Common Shares, par value \| SFr / shares			SFr 24.15		SFr 24.15
Common Shares in treasury, shares			41,081,627		47,448,502
Treasury Stock, Shares, Retired	14,465,400
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures			2,247,675
Common Stock, Dividend Rate Approved \| $ / shares				$ 0.83		$ 0.80	$ 0.78
Annual dividend per share approved by shareholders \| $ / shares				3.32		3.20	3.12
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividend Rate Approved \| $ / shares				$ 0.83		$ 0.80	$ 0.78
Nov 2020 Stock Repurchase Plan
Stockholders' Equity Note [Abstract]
Number of shares repurchased		11,355,400

Shareholders' equity Dividends Declared (Details)	3 Months Ended				6 Months Ended
Shareholders' equity Dividends Declared (Details)	Jun. 30, 2022 SFr / shares	Jun. 30, 2022 $ / shares	Jun. 30, 2021 SFr / shares	Jun. 30, 2021 $ / shares	Jun. 30, 2022 SFr / shares	Jun. 30, 2022 $ / shares	Jun. 30, 2021 SFr / shares	Jun. 30, 2021 $ / shares
United States of America, Dollars
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| $ / shares		$ 0.83		$ 0.80		$ 1.63		$ 1.58
Switzerland, Francs
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| SFr / shares	SFr 0.80		SFr 0.71		SFr 1.54		SFr 1.41

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

1 Months Ended

3 Months Ended

6 Months Ended

Jul. 28, 2022

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

May 19, 2022

Jul. 19, 2021

Feb. 01, 2021

Nov. 19, 2020

14,465,400

Repurchase authorization remaining at end of period (1)

$ 2,440

$ 65

65

Nov 2020 Stock Repurchase Plan

Stock Repurchase Program, Authorized Amount

$ 2,500

$ 1,500

11,355,400

Repurchase authorization remaining at end of period (1)

$ 1,921

$ 65

CB_Increase(Decrease)StockRepurchaseProgramAuthorizedAmount

$ 1,000

July 2021 Stock Repurchase Plan

Stock Repurchase Program, Authorized Amount

$ 5,000

5,476,300

10,346,200

Repurchase authorization remaining at end of period (1)

$ 1,129

$ 2,130

522

May 2022 Stock Repurchase Plan

Stock Repurchase Program, Authorized Amount

$ 2,500

Repurchase authorization remaining at end of period (1)

^[1]

$ 2,500

Subsequent Event [Member] | May 2022 Stock Repurchase Plan

1,513,728

Repurchase authorization remaining at end of period (1)

$ 281

$ 2,220

[1]	As of June 30, 2022, $522 million expired under the July 2021 $5.0 billion share repurchase authorization.

Share-Based Compensation (Detail) - $ / shares		6 Months Ended
Share-Based Compensation (Detail) - $ / shares	Feb. 24, 2022	Jun. 30, 2022
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		3 years
Award term period in years		10 years
Stock options granted	1,699,554
Weighted-average grant date fair value for stock options granted	$ 35.21
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		4 years
Restricted stock awards granted to employees and officers of the company	807,194
Grant date fair value of awards except for options granted to employees and officers of the company	$ 199.03
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		3 years
Restricted stock awards granted to employees and officers of the company	294,229
Grant date fair value of awards except for options granted to employees and officers of the company	$ 199.03
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period in years		4 years
Restricted stock awards granted to employees and officers of the company	295,301
Grant date fair value of awards except for options granted to employees and officers of the company	$ 199.03

Postretirement benefits Components of net periodic benefit costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 1	$ 1	$ 2	$ 2
Non-service (benefit) cost	(54)	(52)	(109)	(103)
Net periodic benefit cost (benefit)	(53)	(51)	(107)	(101)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Interest cost	1	0	1	0
Expected return on plan assets	(1)	0	(1)	0
Defined Benefit Plan, Amortization of Gain (Loss)	0	0	0	0
Amortization of prior service cost	0	(6)	0	(26)
Settlements	0	0	0	0
Non-service (benefit) cost	0	(6)	0	(26)
Net periodic benefit cost (benefit)	0	(6)	0	(26)
Losses and loss expenses \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Non-service (benefit) cost	(5)	(4)	(10)	(9)
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	(1)	0	(3)
Administrative Expense \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	1	1	2	2
Non-service (benefit) cost	(49)	(48)	(99)	(94)
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	(5)	0	(23)
Foreign Plan [Member] \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	1	1	2	2
Interest cost	6	4	12	9
Expected return on plan assets	(11)	(11)	(22)	(22)
Defined Benefit Plan, Amortization of Gain (Loss)	0	1	0	2
Amortization of prior service cost	0	0	0	0
Settlements	0	0	0	0
Non-service (benefit) cost	(5)	(6)	(10)	(11)
Net periodic benefit cost (benefit)	(4)	(5)	(8)	(9)
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	0	0	0
Interest cost	22	17	43	35
Expected return on plan assets	(71)	(63)	(142)	(127)
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	(49)	(46)	(99)	(92)
Net periodic benefit cost (benefit)	$ (49)	$ (46)	$ (99)	$ (92)

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

3 Months Ended

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

Equity in net income of partially-owned entities

^[1]

$ (71)

$ 774

$ 290

$ 1,271

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

^[2]

(18)

15

(49)

19

Federal excise and capital taxes

(5)

(9)

(10)

Partially-owned Investment Companies

(7)

(23)

(13)

Total

(101)

777

209

1,267

Unrealized Gain (Loss) on Investments

(134)

674

121

1,074

Huatai Group [Member]

Equity in net income of partially-owned entities

$ 15

$ 49

$ 55

$ 98

[1]

Equity in net income (loss) of partially-owned entities principally comprises market-to-market gain (loss) on private equities where we own more than three percent of $(134) million and $121 million for the three and six months ended June 30, 2022, respectively, and $674 million and $1,074 million, respectively, for the prior year periods. This line item also includes net income of $15 million and $55 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the three and six months ended June 30, 2022, respectively, compared to $49 million and $98 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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net premiums written	$ 10,302	$ 9,546	$ 19,501	$ 18,208
Net premiums earned	9,557	8,813	18,303	17,034
Losses and loss expenses	5,408	5,006	10,195	10,059
Policy benefits	159	185	304	352
Policy acquisition costs	1,739	1,698	3,476	3,363
Administrative expenses	818	775	1,596	1,519
Underwriting income (loss)	1,433	1,149	2,732	1,741
Net investment income (loss)	888	884	1,710	1,747
Other (income) expense	101	(777)	(209)	(1,267)
Amortization of purchased intangibles	71	73	142	145
Segment Income (loss)	2,149	2,737	4,509	4,610
Net realized gains (losses)	(504)	(33)	(403)	854
Interest expense	134	122	266	244
Cigna integration expenses	3	0	3	0
Income tax expense	293	317	648	655
Net income	1,215	2,265	3,189	4,565
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	9	3	10	2
Policy benefits	(18)	15	(49)	19
Policy acquisition costs	0	0	0	0
Administrative expenses	0	0	0	0
Underwriting income (loss)	9	(18)	39	(21)
Net investment income (loss)	(48)	(39)	(111)	(80)
Other (income) expense	(30)	(54)	(62)	(99)
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	(9)	(3)	(10)	(2)
Net realized gains (losses)	9	3	10	2
Interest expense	0	0	0	0
Cigna integration expenses	0		0
Income tax expense	0	0	0	0
Net income	0	0	0	0
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	4,665	4,285	8,704	7,949
Net premiums earned	4,248	3,803	8,362	7,477
Losses and loss expenses	2,446	2,426	4,943	4,986
Policy benefits	0	0	0	0
Policy acquisition costs	545	489	1,118	1,003
Administrative expenses	277	245	542	499
Underwriting income (loss)	980	643	1,759	989
Net investment income (loss)	522	535	1,011	1,075
Other (income) expense	0	14	6	16
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	1,502	1,164	2,764	2,048
North America Personal P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,426	1,363	2,606	2,461
Net premiums earned	1,271	1,224	2,518	2,408
Losses and loss expenses	773	676	1,486	1,495
Policy benefits	0	0	0	0
Policy acquisition costs	258	245	518	492
Administrative expenses	73	67	142	127
Underwriting income (loss)	167	236	372	294
Net investment income (loss)	64	64	123	129
Other (income) expense	1	(5)	2	(4)
Amortization of purchased intangibles	3	3	5	6
Segment Income (loss)	227	302	488	421
North America Agricultural Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	738	512	800	695
Net premiums earned	573	410	544	520
Losses and loss expenses	478	331	386	416
Policy benefits	0	0	0	0
Policy acquisition costs	31	27	43	39
Administrative expenses	2	3	1	6
Underwriting income (loss)	62	49	114	59
Net investment income (loss)	7	8	14	15
Other (income) expense	0	0	0	0
Amortization of purchased intangibles	6	6	13	13
Segment Income (loss)	63	51	115	61
Overseas General Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	2,640	2,497	5,719	5,387
Net premiums earned	2,696	2,579	5,324	5,057
Losses and loss expenses	1,224	1,186	2,613	2,449
Policy benefits	0	0	0	0
Policy acquisition costs	697	699	1,376	1,367
Administrative expenses	278	279	547	545
Underwriting income (loss)	497	415	788	696
Net investment income (loss)	162	149	309	290
Other (income) expense	3	2	5	3
Amortization of purchased intangibles	14	13	28	25
Segment Income (loss)	642	549	1,064	958
Global Reinsurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	262	274	515	481
Net premiums earned	222	192	457	372
Losses and loss expenses	139	110	254	230
Policy benefits	0	0	0	0
Policy acquisition costs	57	47	119	92
Administrative expenses	10	10	19	18
Underwriting income (loss)	16	25	65	32
Net investment income (loss)	76	81	161	151
Other (income) expense	1	0	1	0
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	91	106	225	183
Life Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	571	615	1,157	1,235
Net premiums earned	547	605	1,098	1,200
Losses and loss expenses	148	185	302	383
Policy benefits	177	170	353	333
Policy acquisition costs	151	191	302	370
Administrative expenses	88	83	172	165
Underwriting income (loss)	(17)	(24)	(31)	(51)
Net investment income (loss)	109	101	212	199
Other (income) expense	(12)	(26)	(40)	(60)
Amortization of purchased intangibles	3	1	5	2
Segment Income (loss)	101	102	216	206
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	191	89	201	98
Policy benefits	0	0	0	0
Policy acquisition costs	0	0	0	0
Administrative expenses	90	88	173	159
Underwriting income (loss)	(281)	(177)	(374)	(257)
Net investment income (loss)	(4)	(15)	(9)	(32)
Other (income) expense	138	(708)	(121)	(1,123)
Amortization of purchased intangibles	45	50	91	99
Segment Income (loss)	(468)	466	(353)	735
Net realized gains (losses)	(513)	(36)	(413)	852
Interest expense	134	122	266	244
Cigna integration expenses	3		3
Income tax expense	293	317	648	655
Net income	$ (1,411)	$ (9)	$ (1,683)	$ 688

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ 1,215	$ 2,265	$ 3,189	$ 4,565
Weighted-average shares outstanding	421,624,660	445,094,678	423,703,328	447,802,079
Share-based compensation plans	3,793,686	2,857,242	3,982,116	2,900,440
Weighted-average shares outstanding and assumed conversions	425,418,346	447,951,920	427,685,444	450,702,519
Basic earnings (loss) per share (US$ per share)	$ 2.88	$ 5.09	$ 7.53	$ 10.20
Diluted earnings (loss) per share (US$ per share)	$ 2.86	$ 5.06	$ 7.46	$ 10.13
Potential anti-dilutive share conversions	1,690,893	1,777,555	1,196,180	1,879,882

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

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