Short-term investments, at fair value (amortized cost – $2,838 and $3,016)

722

770

2,835

3,016

Other investments, at fair value and cost

5,955

5,277

Total investments

107,178

100,968

1,478

^[1]

1,247

^[2]

111

93

Accrued investment income

962

1,926

857

883

Reinsurance recoverable on losses and loss expenses

10,403

10,075

15,527

15,993

Deferred policy acquisition costs

199

202

5,148

4,922

Prepaid reinsurance premiums

274

295

Goodwill

15,230

15,271

Other intangible assets

6,148

6,143

2,691

2,544

Investments in partially-owned insurance companies

1,064

678

7,878

6,531

175,148

167,771

Liabilities

63,012

62,960

16,571

15,532

Insurance and reinsurance balances payable

5,738

5,506

6,341

6,437

Securities lending payable

962

1,926

Accounts payable, accrued expenses, and other liabilities

12,167

10,472

Deferred tax liabilities

766

304

1,416

1,418

10

509

13,285

12,087

308

Commitments and contingencies

120,576

117,459

Shareholders’ equity

Common Shares (CHF 24.15 par value; 479,783,864 shares issued; 453,533,642 and 459,203,378 shares outstanding)

11,121

Common Shares in treasury (26,250,222 and 20,580,486 shares)

(3,504)

(2,618)

Additional Paid in Capital, Common Stock

11,465

12,557

Retained earnings

34,969

31,700

Accumulated other comprehensive income (loss) (AOCI)

521

(2,448)

Total shareholders’ equity

54,572

50,312

Cash flows from operating activities

$ 175,148

$ 167,771

[1]

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

[2]

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Consolidated Balance Sheets (Parenthetical) $ in Millions	Sep. 30, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
Statement of Financial Position [Abstract]
Available for sale, at amortized cost	$ 82,036	$ 79,323
Fixed maturities available for sale, hybrid financial instruments	5	9
Held to maturity, at Fair Value	13,096	13,259
short-term investments amortized cost	$ 2,838	$ 3,016
Common Shares, shares issued \| shares	479,783,864	479,783,864
Common Shares, shares outstanding \| shares	453,533,642	459,203,378
Common Shares in treasury, shares \| shares	26,250,222	20,580,486

Consolidated Statements Of Operations and Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Net premiums written	$ 8,622	$ 8,110	$ 24,278	$ 23,229
Increase in unearned premiums	(295)	(202)	(923)	(630)
Net premiums earned	8,327	7,908	23,355	22,599
Net investment income	873	823	2,568	2,457
Net realized gains (losses):
Other-than-temporary impairment (OTTI) losses gross	(54)	(14)	(81)	(19)
Portion of OTTI losses recognized in other comprehensive income (OCI)	30	3	31	3
Net OTTI losses recognized in income	(24)	(11)	(50)	(16)
Net realized gains (losses) excluding OTTI losses	(131)	30	(425)	51
Net Realized Gains Losses	(155)	19	(475)	35
Total revenues	9,045	8,750	25,448	25,091
Expenses
Losses and loss expenses	5,052	4,868	13,865	13,457
Policy benefits	158	127	515	428
Policy acquisition costs	1,603	1,504	4,611	4,432
Administrative expenses	752	719	2,220	2,158
Interest expense	138	164	418	488
Other (income) expense	(57)	(145)	(326)	(307)
Amortization of purchased intangibles	76	83	229	253
Chubb integration expenses	2	16	9	39
Total expenses	7,724	7,336	21,541	20,948
Income before income tax	1,321	1,414	3,907	4,143
Income tax expense (benefit) (includes nil, $(4), $(2) and $(19) on reclassified unrealized gains and losses)	230	183	626	536
Net income	1,091	1,231	3,281	3,607
Other comprehensive income (loss)
Unrealized appreciation (depreciation)	694	(251)	3,791	(2,063)
Reclassification adjustment for net realized (gains) losses included in net income	11	38	43	142
Unrealized appreciation (Depreciation) after reclassification adjustment	705	(213)	3,834	(1,921)
Change in:
Cumulative foreign currency translation adjustment	(193)	(482)	(143)	(659)
Postretirement benefit liability adjustment	(17)	(21)	(62)	(61)
Other comprehensive income (loss), before income tax	495	(716)	3,629	(2,641)
Income tax (expense) benefit related to OCI items	(113)	77	(660)	356
Other comprehensive income (loss)	382	(639)	2,969	(2,285)
Comprehensive income	$ 1,473	$ 592	$ 6,250	$ 1,322
Earnings per share
Basic earnings per share	$ 2.40	$ 2.66	$ 7.18	$ 7.76
Diluted earnings per share	$ 2.38	$ 2.64	$ 7.13	$ 7.71

Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Total net realized gains (losses) reclassified from AOCI	$ (11)	$ (38)	$ (43)	$ (142)
Income tax expense on reclassified unrealized gains and loses	$ 0	$ (4)	$ (2)	$ (19)

Consolidated Statements Of Shareholders' Equity - 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]
Cumulative effect of adoption of accounting guidance					$ 410	$ (417)
Balance - beginning of period at Dec. 31, 2017		$ 11,121	$ (1,944)	$ 13,978	27,884	1,033	$ (1,187)	$ 280
Balance - beginning of period (Previous Accounting Guidance [Member]) at Dec. 31, 2017					27,474	1,450
Common Shares repurchased			(703)
Net shares redeemed under employee share-based compensation plans			275	(261)
Exercise of stock options				(42)
Share-based compensation expense				186
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(1,008)
Net income (loss)	$ 3,607				3,607
Funding of dividends declared from Additional paid-in capital					1,008
Dividends declared on Common Shares					(1,008)
Change in period, before reclassification from AOCI, net of income tax benefit (expense) of $(125), $58, $(674) and $358						(1,705)
Amounts reclassified from AOCI, net of income tax benefit (expense) of nil, $(4), $(2) and $(19)						123
Change in period, net of income tax benefit (expense) of $(125), $54, $(676) and $339						(1,582)
Change in period, net of income tax benefit of $8, $20, $3 and $5							(654)
Change in period, net of income tax benefit of $4, $3, $13 and $12								(49)
Balance - end of period at Sep. 30, 2018	50,934	11,121	(2,372)	12,853	31,491	(549)	(1,841)	231	$ (2,159)
Cumulative effect of adoption of accounting guidance					0	0
Balance - beginning of period at Jun. 30, 2018		11,121	(2,040)	13,150	30,260	(390)	(1,379)	249
Balance - beginning of period (Previous Accounting Guidance [Member]) at Jun. 30, 2018					30,260	(390)
Common Shares repurchased			(379)
Net shares redeemed under employee share-based compensation plans			47	0
Exercise of stock options				(23)
Share-based compensation expense				63
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(337)
Net income (loss)	1,231				1,231
Funding of dividends declared from Additional paid-in capital					337
Dividends declared on Common Shares					(337)
Change in period, before reclassification from AOCI, net of income tax benefit (expense) of $(125), $58, $(674) and $358						(193)
Amounts reclassified from AOCI, net of income tax benefit (expense) of nil, $(4), $(2) and $(19)						34
Change in period, net of income tax benefit (expense) of $(125), $54, $(676) and $339						(159)
Change in period, net of income tax benefit of $8, $20, $3 and $5							(462)
Change in period, net of income tax benefit of $4, $3, $13 and $12								(18)
Balance - end of period at Sep. 30, 2018	50,934	11,121	(2,372)	12,853	31,491	(549)	(1,841)	231	(2,159)
Cumulative effect of adoption of accounting guidance						0
Cumulative effect of adoption of accounting guidance \| Accounting Standards Update 2017-08 [Member]					(12)
Balance - beginning of period at Dec. 31, 2018	50,312	11,121	(2,618)	12,557	31,688	(545)	(1,976)	73
Balance - beginning of period (Previous Accounting Guidance [Member]) at Dec. 31, 2018					31,700	(545)
Common Shares repurchased			(1,221)
Net shares redeemed under employee share-based compensation plans			335	(184)
Exercise of stock options				(65)
Share-based compensation expense				177
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(1,020)
Net income (loss)	3,281				3,281
Funding of dividends declared from Additional paid-in capital					1,020
Dividends declared on Common Shares					(1,020)
Change in period, before reclassification from AOCI, net of income tax benefit (expense) of $(125), $58, $(674) and $358						3,117
Amounts reclassified from AOCI, net of income tax benefit (expense) of nil, $(4), $(2) and $(19)						41
Change in period, net of income tax benefit (expense) of $(125), $54, $(676) and $339						3,158
Change in period, net of income tax benefit of $8, $20, $3 and $5							(140)
Change in period, net of income tax benefit of $4, $3, $13 and $12								(49)
Balance - end of period at Sep. 30, 2019	54,572	11,121	(3,504)	11,465	34,969	2,613	(2,116)	24	521
Cumulative effect of adoption of accounting guidance						0
Cumulative effect of adoption of accounting guidance \| Accounting Standards Update 2017-08 [Member]					0
Balance - beginning of period at Jun. 30, 2019		11,121	(3,093)	11,757	33,878	2,033	(1,931)	37
Balance - beginning of period (Previous Accounting Guidance [Member]) at Jun. 30, 2019					33,878	2,033
Common Shares repurchased			(478)
Net shares redeemed under employee share-based compensation plans			67	6
Exercise of stock options				(17)
Share-based compensation expense				60
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				(341)
Net income (loss)	1,091				1,091
Funding of dividends declared from Additional paid-in capital					341
Dividends declared on Common Shares					(341)
Change in period, before reclassification from AOCI, net of income tax benefit (expense) of $(125), $58, $(674) and $358						569
Amounts reclassified from AOCI, net of income tax benefit (expense) of nil, $(4), $(2) and $(19)						11
Change in period, net of income tax benefit (expense) of $(125), $54, $(676) and $339						580
Change in period, net of income tax benefit of $8, $20, $3 and $5							(185)
Change in period, net of income tax benefit of $4, $3, $13 and $12								(13)
Balance - end of period at Sep. 30, 2019	$ 54,572	$ 11,121	$ (3,504)	$ 11,465	$ 34,969	$ 2,613	$ (2,116)	$ 24	$ 521

Consolidated Statements Of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Other Comprehensive Income (Loss), Available-for-sale Securities, before Reclassification Adjustments, Tax	$ (125)	$ 58	$ (674)	$ 358
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	(4)	(2)	(19)
Net unrealized appreciation on investments, Change in period, income tax (expense) benefit	(125)	54	(676)	339
Cumulative translation adjustment, Change in period, income tax(expense) benefit	8	20	3	5
Pension liability adjustment, Change in period, income tax (expense) benefit	$ 4	$ 3	$ 13	$ 12

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

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Net income

$ 3,281

$ 3,607

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

Net realized (gains) losses

475

(35)

Amortization of premiums/discounts on fixed maturities

294

454

Amortization of purchased intangibles

229

253

Deferred income taxes

(178)

46

277

436

1,061

779

Insurance and reinsurance balances payable

148

170

(114)

574

Accounts payable, accrued expenses, and other liabilities

(6)

(172)

Income taxes payable

83

182

Deferred policy acquisition costs

(371)

(1,074)

Reinsurance recoverable

426

(219)

(266)

(270)

Net cash flows from operating activities

(426)

(834)

4,913

3,897

Cash flows from investing activities

(19,778)

(16,788)

(143)

(380)

(466)

(148)

Sales of to be announced mortgage-backed securities

10,430

9,041

6

0

Maturities and redemptions of fixed maturities available for sale

577

247

6,390

5,482

Maturities and redemptions of fixed maturities held to maturity

814

1,001

202

64

(647)

(46)

(1,093)

(1,112)

973

743

(826)

(231)

Cash flows from financing activities

(3,561)

(2,127)

(1,014)

(1,001)

(1,203)

(732)

1,286

2,171

(501)

(2,001)

Repayment of repurchase agreements

2,394

1,572

(2,396)

(1,566)

155

86

376

269

(221)

(222)

Effect of foreign currency rate changes on cash and restricted cash

(1,124)

(1,424)

21

(40)

Net increase (decrease) in cash and restricted cash

249

306

1,340

^[1]

851

^[2]

Organization, Consolidation and Presentation of Financial Statements [Abstract]

1,589

^[1]

1,157

^[2]

Supplemental cash flow information

Taxes paid

733

313

Interest paid

$ 327

$ 403

[1]

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019 and December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

[2]

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2018 and December 31, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

General

9 Months Ended

Sep. 30, 2019

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. Chubb operates 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 10 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 (consisting of normally recurring accruals) 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 2018 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:



	September 30		December 31
(in millions of U.S. dollars)	2019		2018
Cash	$	1,478	$	1,247
Restricted cash	111		93
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	1,589	$	1,340

c) Goodwill

During the nine months ended September 30, 2019, Goodwill decreased $41 million, primarily reflecting the impact of foreign exchange.

d) Accounting guidance adopted in 2019

Premium Amortization on Purchased Callable Debt Securities

Effective January 1, 2019, we adopted new accounting guidance on "Premium Amortization on Purchased Callable Debt Securities" for bonds held at a premium on a modified retrospective basis. The guidance requires the premium to be amortized to the earliest call date. As a result, we recorded a cumulative effect adjustment to decrease beginning retained earnings by $12 million after-tax ($15 million pre-tax). Securities held at a discount did not require an accounting change.

Lease Accounting

Effective for the quarter ended March 31, 2019, we adopted new lease accounting guidance and elected to utilize a modified retrospective approach which allowed us to initially apply the new lease standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings for 2019, with no adjustment to prior periods presented. The cumulative effect adjustment to the opening balance of retained earnings was zero. Our leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease. The adoption of the updated guidance resulted in recognizing a right-of-use asset, which was recorded within Other assets, and a lease liability, which was recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheet as well as de-recognizing the liability for deferred rent that was required under the previous guidance. The adoption of the new guidance did not have a material effect on our results of operations, financial condition or liquidity. Refer to Note 6 h) for additional information on leases.

Refer to the 2018 Form 10-K for information on accounting guidance not yet adopted.

Investments

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

a) Fixed maturities



September 30, 2019	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
(in millions of U.S. dollars)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
Available for sale
U.S. Treasury and agency	$	3,438	$	133	$	(1	)	$	3,570	$	—
Foreign	21,974		1,171		(68		)	23,077		(27		)
Corporate securities	30,344		1,131		(108		)	31,367		(5		)
Mortgage-backed securities	18,457		570		(13		)	19,014		—
States, municipalities, and political subdivisions	7,823		205		(12		)	8,016		—
	$	82,036	$	3,210	$	(202	)	$	85,044	$	(32	)
Held to maturity
U.S. Treasury and agency	$	1,234	$	36	$	—		$	1,270	$	—
Foreign	1,401		85		(1		)	1,485		—
Corporate securities	2,391		127		(4		)	2,514		—
Mortgage-backed securities	2,391		83		—			2,474		—
States, municipalities, and political subdivisions	5,205		149		(1		)	5,353		—
	$	12,622	$	480	$	(6	)	$	13,096	$	—



December 31, 2018	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
(in millions of U.S. dollars)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
Available for sale
U.S. Treasury and agency	$	4,158	$	30	$	(43	)	$	4,145	$	—
Foreign	21,370		395		(349		)	21,416		—
Corporate securities	27,183		150		(750		)	26,583		(6		)
Mortgage-backed securities	15,758		66		(284		)	15,540		(1		)
States, municipalities, and political subdivisions	10,854		49		(117		)	10,786		—
	$	79,323	$	690	$	(1,543	)	$	78,470	$	(7	)
Held to maturity
U.S. Treasury and agency	$	1,185	$	8	$	(11	)	$	1,182	$	—
Foreign	1,549		11		(18		)	1,542		—
Corporate securities	2,601		11		(104		)	2,508		—
Mortgage-backed securities	2,524		5		(43		)	2,486		—
States, municipalities, and political subdivisions	5,576		16		(51		)	5,541		—
	$	13,435	$	51	$	(227	)	$	13,259	$	—

As discussed in Note 2 b), if a credit loss is incurred on an impaired fixed maturity, an OTTI is considered to have occurred and the portion of the impairment not related to credit losses (non-credit OTTI) is recognized in OCI. Included in the “OTTI Recognized in AOCI” columns above are the cumulative amounts of non-credit OTTI recognized in OCI adjusted for subsequent sales, maturities, and redemptions. OTTI recognized in AOCI does not include the impact of subsequent changes in fair value of the related securities. In periods subsequent to a recognition of OTTI in OCI, changes in the fair value of the related fixed maturities are reflected in Net unrealized appreciation on investments in the Consolidated statements of shareholders’ equity. For the three and nine months ended September 30, 2019, $21 million and $5 million, respectively, of net unrealized depreciation related to such securities are included in OCI. For the three and nine months ended September 30, 2018,

$2 million and $6 million, respectively, of net unrealized depreciation related to such securities is included in OCI. At September 30, 2019 and December 31, 2018, AOCI included cumulative net unrealized depreciation of $26 million and net unrealized appreciation of $1 million, respectively, related to securities remaining in the investment portfolio for which a non-credit OTTI was recognized.

Mortgage-backed securities (MBS) issued by U.S. government agencies are combined with all other to be announced mortgage-backed securities (TBAs) held (refer to Note 6 b) (iv)) and are included in the category, “Mortgage-backed securities”. Approximately 83 percent and 81 percent of the total mortgage-backed securities at September 30, 2019 and December 31, 2018, respectively, are represented by investments in U.S. government agency bonds. The remainder of the mortgage exposure consists of collateralized mortgage obligations and non-government mortgage-backed securities, the majority of which provide a planned structure for principal and interest payments and carry a rating of AAA by the major credit rating agencies.

The following table presents fixed maturities by contractual maturity:



			September 30				December 31
			2019				2018
(in millions of U.S. dollars)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Available for sale
Due in 1 year or less	$	3,869	$	3,889	$	3,569	$	3,568
Due after 1 year through 5 years	27,168		27,728		27,134		27,005
Due after 5 years through 10 years	23,368		24,309		24,095		23,543
Due after 10 years	9,174		10,104		8,767		8,814
	63,579		66,030		63,565		62,930
Mortgage-backed securities	18,457		19,014		15,758		15,540
	$	82,036	$	85,044	$	79,323	$	78,470
Held to maturity
Due in 1 year or less	$	487	$	490	$	536	$	537
Due after 1 year through 5 years	3,567		3,629		3,122		3,106
Due after 5 years through 10 years	3,822		3,959		4,468		4,407
Due after 10 years	2,355		2,544		2,785		2,723
	10,231		10,622		10,911		10,773
Mortgage-backed securities	2,391		2,474		2,524		2,486
	$	12,622	$	13,096	$	13,435	$	13,259

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) Net realized gains (losses)

In accordance with guidance related to the recognition and presentation of OTTI, when an impairment related to a fixed maturity has occurred, OTTI is required to be recorded in Net income if management has the intent to sell the security or it is more likely than not that we will be required to sell the security before the recovery of its amortized cost. Further, in cases where we do not intend to sell the security and it is more likely than not that we will not be required to sell the security, we must evaluate the security to determine the portion of the impairment, if any, related to credit losses. If a credit loss is incurred, an OTTI is considered to have occurred and any portion of the OTTI related to credit losses must be reflected in Net income while the portion of OTTI related to all other factors is recognized in OCI. For fixed maturities held to maturity, OTTI recognized in OCI is accreted from AOCI to the amortized cost of the fixed maturity prospectively over the remaining term of the securities.

Each quarter, securities in an unrealized loss position (impaired securities), including fixed maturities and securities lending collateral are reviewed to identify impaired securities to be specifically evaluated for a potential OTTI.

Evaluation of potential credit losses related to fixed maturities

We review each fixed maturity in an unrealized loss position to assess whether the security is a candidate for credit loss. Specifically, we consider credit rating, market price, and issuer-specific financial information, among other factors, to assess the

likelihood of collection of all principal and interest as contractually due. Securities, for which we determine that credit loss is likely, are subjected to further analysis to estimate the credit loss recognized in Net income, if any. In general, credit loss recognized in Net income equals the difference between the security’s amortized cost and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security. All significant assumptions used in determining credit losses are subject to change as market conditions evolve.

Corporate and foreign securities

Projected cash flows for corporate and foreign securities (principally senior unsecured bonds) are driven primarily by assumptions regarding probability of default and also the timing and amount of recoveries associated with defaults. Chubb developed projected cash flows for corporate and foreign securities using market observable data, issuer-specific information, and credit ratings. We use historical default data by Moody’s Investors Service (Moody’s) rating category to calculate a 1-in-100 year probability of default, which results in a default assumption in excess of the historical mean default rate. Consistent with management's approach, Chubb assumed a 32 percent recovery rate (the par value of a defaulted security that will be recovered) across all rating categories rather than using Moody's historical mean recovery rate of 42 percent. We believe that use of a default assumption in excess of the historical mean is conservative.

For the three and nine months ended September 30, 2019, credit losses recognized in Net income for corporate and foreign securities were $18 million and $32 million, respectively. For the three and nine months ended September 30, 2018, credit losses recognized in Net income for corporate and foreign securities were $8 million and $9 million, respectively.

Mortgage-backed securities

For mortgage-backed securities, credit impairment is assessed using a cash flow model that estimates the cash flows on the underlying mortgages, using the security-specific collateral and transaction structure. The model estimates cash flows from the underlying mortgage loans and distributes those cash flows to various tranches of securities, considering the transaction structure and any subordination and credit enhancements that exist in that structure. The cash flow model incorporates actual cash flows on the mortgage-backed securities through the current period and then projects the remaining cash flows using a number of assumptions, including default rates, prepayment rates, and loss severity rates (the par value of a defaulted security that will not be recovered) on foreclosed properties.

For the three and nine months ended September 30, 2019 and 2018, there were no credit losses recognized in Net income for mortgage-backed securities.

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



	Three Months Ended						Nine Months Ended
	September 30						September 30
(in millions of U.S. dollars)	2019			2018			2019			2018
Fixed maturities:
OTTI on fixed maturities, gross	$	(54	)	$	(14	)	$	(81	)	$	(19	)
OTTI on fixed maturities recognized in OCI (pre-tax)	30			3			31			3
OTTI on fixed maturities, net	(24		)	(11		)	(50		)	(16		)
Gross realized gains excluding OTTI	70			64			153			229
Gross realized losses excluding OTTI	(57		)	(91		)	(146		)	(355		)
Total fixed maturities	(11		)	(38		)	(43		)	(142		)
Equity securities	3			35			66			22
Other investments	(4		)	5			(18		)	23
Foreign exchange gains	84			39			86			102
Investment and embedded derivative instruments	(97		)	37			(408		)	78
Fair value adjustments on insurance derivative	(106		)	54			(57		)	133
S&P futures	(6		)	(100		)	(89		)	(122		)
Other derivative instruments	(14		)	(8		)	(8		)	2
Other	(4		)	(5		)	(4		)	(61		)
Net realized gains (losses) (pre-tax)	$	(155	)	$	19		$	(475	)	$	35

Other net realized gains (losses) for the nine months ended September 30, 2018 included a $36 million loss from the extinguishment of debt related to the redemption of the $1.0 billion 6.375 percent unsecured junior subordinated capital securities and a $22 million loss related to lease impairments.

The following table presents a roll-forward of pre-tax credit losses related to fixed maturities for which a portion of OTTI was recognized in OCI:



	Three Months Ended						Nine Months Ended
	September 30						September 30
(in millions of U.S. dollars)	2019			2018			2019			2018
Balance of credit losses related to securities still held – beginning of period	$	30		$	16		$	34		$	22
Additions where no OTTI was previously recorded	17			6			28			7
Additions where an OTTI was previously recorded	1			2			4			2
Reductions for securities sold during the period	(8		)	(3		)	(26		)	(10		)
Balance of credit losses related to securities still held – end of period	$	40		$	21		$	40		$	21

c) Equity securities and Other investments

The following table presents realized gains and losses from equity securities and other investments, including both sales of securities and unrealized gains and losses from changes in fair value:



										Three Months Ended
										September 30
	2019									2018
(in millions of U.S. dollars)	Equity Securities			Other Investments			Total			Equity Securities			Other Investments		Total
Net gains (losses) recognized during the period	$	3		$	(4	)	$	(1	)	$	35		$	5	$	40
Less: Net gains (losses) recognized from sales of securities	24			(2		)	22			48			—		48
Unrealized gains (losses) recognized for securities still held at reporting date	$	(21	)	$	(2	)	$	(23	)	$	(13	)	$	5	$	(8	)



									Nine Months Ended
									September 30
	2019								2018
(in millions of U.S. dollars)	Equity Securities		Other Investments			Total			Equity Securities			Other Investments		Total
Net gains (losses) recognized during the period	$	66	$	(18	)	$	48		$	22		$	23	$	45
Less: Net gains (losses) recognized from sales of securities	57		(4		)	53			63			—		63
Unrealized gains (losses) recognized for securities still held at reporting date	$	9	$	(14	)	$	(5	)	$	(41	)	$	23	$	(18	)

d) Gross unrealized loss

At September 30, 2019, there were 4,231 fixed maturities out of a total of 31,075 fixed maturities in an unrealized loss position. The largest single unrealized loss in the fixed maturities was $7 million. Fixed maturities in an unrealized loss position at September 30, 2019, comprised both investment grade and below investment grade securities for which fair value declined primarily due to widening credit spreads since the date of purchase.

The following tables present, for all securities in an unrealized loss position (including securities on loan), the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:



	0 – 12 Months					Over 12 Months					Total
September 30, 2019	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
U.S. Treasury and agency	$	144	$	—		$	531	$	(1	)	$	675	$	(1	)
Foreign	1,077		(23		)	1,014		(46		)	2,091		(69		)
Corporate securities	2,600		(62		)	1,095		(50		)	3,695		(112		)
Mortgage-backed securities	640		(2		)	1,228		(11		)	1,868		(13		)
States, municipalities, and political subdivisions	650		(1		)	371		(12		)	1,021		(13		)
Total fixed maturities	$	5,111	$	(88	)	$	4,239	$	(120	)	$	9,350	$	(208	)



	0 – 12 Months					Over 12 Months					Total
December 31, 2018	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
U.S. Treasury and agency	$	523	$	(4	)	$	2,859	$	(50	)	$	3,382	$	(54	)
Foreign	6,764		(208		)	5,349		(159		)	12,113		(367		)
Corporate securities	16,538		(599		)	4,873		(255		)	21,411		(854		)
Mortgage-backed securities	6,103		(98		)	6,913		(229		)	13,016		(327		)
States, municipalities, and political subdivisions	5,024		(44		)	7,768		(124		)	12,792		(168		)
Total fixed maturities	$	34,952	$	(953	)	$	27,762	$	(817	)	$	62,714	$	(1,770	)

e) Investments in partially-owned insurance companies

On May 31, 2019, we completed the purchase of an additional ownership in Huatai Insurance Group Company Limited ("Huatai Group") of approximately 6.2 percent for $329 million. We increased our aggregate ownership interest in Huatai Group to approximately 26.2 percent. We continue to apply the equity method of accounting to our investment in Huatai Group by recording our share of net income or loss in Other (income) expense in the Consolidated statements of operations. With our increased ownership interest, Huatai Group becomes the first domestic Chinese financial services holding company to convert to a Sino-foreign equity joint venture.

f) Restricted assets

Chubb is required to maintain assets on deposit with various regulatory authorities to support its insurance and reinsurance operations. These requirements are generally promulgated in the statutory regulations of the individual jurisdictions. The assets on deposit are available to settle insurance and reinsurance liabilities. Chubb is also required to restrict assets pledged under repurchase agreements, which represent Chubb's agreement to sell securities and repurchase them at a future date for a predetermined price. We use trust funds in certain large reinsurance transactions where the trust funds are set up for the benefit of the ceding companies and generally take the place of letter of credit (LOC) requirements. We have investments in segregated portfolios primarily to provide collateral or guarantees for LOC and derivative transactions. Included in restricted assets at September 30, 2019 and December 31, 2018 are investments, primarily fixed maturities, totaling $21.3 billion and $21.0 billion, respectively, and cash of $111 million and $93 million, respectively.

The following table presents the components of restricted assets:



	September 30		December 31
(in millions of U.S. dollars)	2019		2018
Trust funds	$	14,325	$	13,988
Deposits with U.S. regulatory authorities	2,476		2,405
Deposits with non-U.S. regulatory authorities	2,706		2,531
Assets pledged under repurchase agreements	1,474		1,468
Other pledged assets	447		692
Total	$	21,428	$	21,084

Fair value measurements

9 Months Ended

Sep. 30, 2019

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, 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), which 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 net asset values or equivalent (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. Other investments for which pricing is unobservable are classified within Level 3.

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 reserves for our guaranteed minimum death benefits (GMDB) and 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. GLB’s are recorded in Accounts payable, accrued expenses, and other liabilities and Future policy benefits 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.

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 in line with data received from other ceding companies adjusted, as appropriate, with industry estimates. 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. Because of the significant use of unobservable inputs including policyholder behavior, GLB reinsurance is classified within Level 3. For the three and nine months ended September 30, 2019 and 2018, no material technical refinements were made to the model. For detailed information on our lapse and annuitization rate assumptions, refer to Note 3 to the Consolidated Financial Statements of our 2018 Form 10-K.

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



September 30, 2019	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities available for sale
U.S. Treasury and agency	$	2,893	$	677	$	—	$	3,570
Foreign	—		22,684		393		23,077
Corporate securities	—		29,917		1,450		31,367
Mortgage-backed securities	—		18,937		77		19,014
States, municipalities, and political subdivisions	—		8,016		—		8,016
	2,893		80,231		1,920		85,044
Equity securities	662		4		56		722
Short-term investments	1,483		1,346		6		2,835
Other investments ⁽¹⁾	392		353		10		755
Securities lending collateral	—		962		—		962
Investment derivative instruments	22		—		—		22
Other derivative instruments	7		—		—		7
Separate account assets	3,140		147		—		3,287
Total assets measured at fair value ⁽¹⁾	$	8,599	$	83,043	$	1,992	$	93,634
Liabilities:
Investment derivative instruments	$	63	$	—	$	—	$	63
GLB ⁽²⁾	—		—		509		509
Total liabilities measured at fair value	$	63	$	—	$	509	$	572


⁽¹⁾	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,871 million and other investments of $88 million at September 30, 2019 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. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.



December 31, 2018	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities available for sale
U.S. Treasury and agency	$	3,400	$	745	$	—	$	4,145
Foreign	—		21,071		345		21,416
Corporate securities	—		25,284		1,299		26,583
Mortgage-backed securities	—		15,479		61		15,540
States, municipalities, and political subdivisions	—		10,786		—		10,786
	3,400		73,365		1,705		78,470
Equity securities	713		—		57		770
Short-term investments	1,575		1,440		1		3,016
Other investments ⁽¹⁾	381		303		11		695
Securities lending collateral	—		1,926		—		1,926
Investment derivative instruments	28		—		—		28
Other derivative instruments	25		—		—		25
Separate account assets	2,686		137		—		2,823
Total assets measured at fair value ⁽¹⁾	$	8,808	$	77,171	$	1,774	$	87,753
Liabilities:
Investment derivative instruments	$	38	$	115	$	—	$	153
GLB ⁽²⁾	—		—		452		452
Total liabilities measured at fair value	$	38	$	115	$	452	$	605


⁽¹⁾	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,244 million and other investments of $95 million at December 31, 2018 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. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.

Fair value of alternative investments

Alternative investments include investment funds, limited partnerships, and partially-owned investment companies measured at fair value using 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:



				September 30				December 31
	Expected Liquidation Period of Underlying Assets			2019				2018
(in millions of U.S. dollars)	Expected Liquidation Period of Underlying Assets	Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	568	$	360	$	596	$	193
Real Assets	2 to 11 Years	771		497		704		362
Distressed	2 to 7 Years	264		89		296		105
Private Credit	3 to 8 Years	109		271		147		310
Traditional	2 to 14 Years	2,767		2,224		2,362		2,735
Vintage	1 to 2 Years	134		37		56		—
Investment funds	Not Applicable	258		—		83		—
		$	4,871	$	3,478	$	4,244	$	3,705

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

Chubb’s 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 range between 5 and 120 days. Chubb can redeem its investment funds without consent from the investment fund managers.

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

September 30, 2019

December 31, 2018

GLB ⁽¹⁾

$

509

$

452

Actuarial model

Lapse rate

3% – 32%

Annuitization rate

0% – 42%


⁽¹⁾	Discussion of the most significant inputs used in the fair value measurement of GLB and the sensitivity of those assumptions is included within Note 3 a) Guaranteed living benefits.

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	Available-for-Sale Debt Securities								Equity securities			Short-term investments		Other investments				GLB ⁽¹⁾
September 30, 2019	Foreign			Corporate securities			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities			MBS
Balance – beginning of period	$	371		$	1,359		$	76	$	56		$	4	$	11			$	403
Transfers into Level 3	—			1			—		—			—		—				—
Transfers out of Level 3	—			—			—		—			—		—				—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(8		)	(4		)	—		(1		)	—		—				—
Net Realized Gains/Losses	—			—			—		(1		)	—		—				106
Purchases	68			176			1		5			2		—				—
Sales	(35		)	(18		)	—		(3		)	—		—				—
Settlements	(3		)	(64		)	—		—			—		(1		)		—
Balance – end of period	$	393		$	1,450		$	77	$	56		$	6	$	10			$	509
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	—		$	—		$	—	$	(1	)	$	—	$	—			$	106

⁽¹⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $815 million at June 30, 2019, which includes a fair value derivative adjustment of $509 million and $403 million, respectively.



	Assets																				Liabilities
Three Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments			Other derivative instruments		GLB ⁽²⁾
September 30, 2018	Foreign			Corporate securities ⁽¹⁾			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities ⁽¹⁾			MBS
Balance – beginning of period	$	252		$	1,181		$	82		$	59		$	12		$	264		$	2	$	125
Transfers into Level 3	5			18			—			—			—			—			—		—
Transfers out of Level 3	(2		)	(21		)	—			—			—			—			—		—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(2		)	7			—			(1		)	—			(4		)	—		—
Net Realized Gains/Losses	(2		)	(6		)	—			7			—			—			—		(54		)
Purchases	98			98			1			6			—			20			—		—
Sales	(22		)	(18		)	—			(18		)	—			—			—		—
Settlements	(4		)	(85		)	(18		)	—			(6		)	(17		)	—		—
Balance – end of period	$	323		$	1,174		$	65		$	53		$	6		$	263		$	2	$	71
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	(1	)	$	(6	)	$	—		$	1		$	—		$	—		$	—	$	(54	)


⁽¹⁾	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

⁽²⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $497 million at June 30, 2018, which includes a fair value derivative adjustment of $71 million and $125 million, respectively.



	Assets																		Liabilities
Nine Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments				GLB ⁽¹⁾
September 30, 2019	Foreign			Corporate securities			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities			MBS
Balance – beginning of period	$	345		$	1,299		$	61		$	57		$	1		$	11			$	452
Transfers into Level 3	3			16			—			—			—			—				—
Transfers out of Level 3	(15		)	—			—			—			—			—				—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(2		)	1			—			1			—			—				—
Net Realized Gains/Losses	(1		)	—			—			(4		)	—			—				57
Purchases	164			425			19			19			6			—				—
Sales	(54		)	(91		)	(1		)	(17		)	—			—				—
Settlements	(47		)	(200		)	(2		)	—			(1		)	(1		)		—
Balance – end of period	$	393		$	1,450		$	77		$	56		$	6		$	10			$	509
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	—		$	(1	)	$	—		$	(3	)	$	—		$	—			$	57

⁽¹⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $861 million at December 31, 2018, which includes a fair value derivative adjustment of $509 million and $452 million, respectively.



	Assets																				Liabilities
Nine Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments			Other derivative instruments		GLB ⁽²⁾
September 30, 2018	Foreign			Corporate securities ⁽¹⁾			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities ⁽¹⁾			MBS
Balance – beginning of period	$	93		$	1,037		$	78		$	44		$	—		$	263		$	2	$	204
Transfers into Level 3	12			24			1			—			5			—			—		—
Transfers out of Level 3	(2		)	(31		)	—			—			—			—			—		—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	—			(5		)	—			—			—			(2		)	—		—
Net Realized Gains/Losses	(2		)	(4		)	—			6			—			1			—		(133		)
Purchases	280			454			5			26			9			50			—		—
Sales	(52		)	(114		)	—			(23		)	—			—			—		—
Settlements	(6		)	(187		)	(19		)	—			(8		)	(49		)	—		—
Balance – end of period	$	323		$	1,174		$	65		$	53		$	6		$	263		$	2	$	71
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	(1	)	$	(6	)	$	—		$	—		$	—		$	1		$	—	$	(133	)


⁽¹⁾	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

⁽²⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $550 million at December 31, 2017, which includes a fair value derivative adjustment of $71 million and $204 million, respectively.

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 2018 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:



September 30, 2019	Fair Value								Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total		Carrying Value
Assets:
Fixed maturities held to maturity
U.S. Treasury and agency	$	1,213	$	57	$	—	$	1,270	$	1,234
Foreign	—		1,485		—		1,485		1,401
Corporate securities	—		2,482		32		2,514		2,391
Mortgage-backed securities	—		2,474		—		2,474		2,391
States, municipalities, and political subdivisions	—		5,353		—		5,353		5,205
Total assets	$	1,213	$	11,851	$	32	$	13,096	$	12,622
Liabilities:
Repurchase agreements	$	—	$	1,416	$	—	$	1,416	$	1,416
Short-term debt	—		10		—		10		10
Long-term debt	—		14,901		—		14,901		13,285
Trust preferred securities	—		457		—		457		308
Total liabilities	$	—	$	16,784	$	—	$	16,784	$	15,019



December 31, 2018	Fair Value								Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total		Carrying Value
Assets:
Fixed maturities held to maturity
U.S. Treasury and agency	$	1,128	$	54	$	—	$	1,182	$	1,185
Foreign	—		1,542		—		1,542		1,549
Corporate securities	—		2,477		31		2,508		2,601
Mortgage-backed securities	—		2,486		—		2,486		2,524
States, municipalities, and political subdivisions	—		5,541		—		5,541		5,576
Total assets	$	1,128	$	12,100	$	31	$	13,259	$	13,435
Liabilities:
Repurchase agreements	$	—	$	1,418	$	—	$	1,418	$	1,418
Short-term debt	—		516		—		516		509
Long-term debt	—		12,181		—		12,181		12,087
Trust preferred securities	—		409		—		409		308
Total liabilities	$	—	$	14,524	$	—	$	14,524	$	14,322

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

Unpaid losses and loss expenses

9 Months Ended

Sep. 30, 2019

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:



	Nine Months Ended September 30
(in millions of U.S. dollars)	2019			2018
Gross unpaid losses and loss expenses – beginning of period	$	62,960		$	63,179
Reinsurance recoverable on unpaid losses - beginning of period ⁽¹⁾	(14,689		)	(14,014		)
Net unpaid losses and loss expenses – beginning of period	48,271			49,165
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	14,484			14,186
Prior years ⁽²⁾	(619		)	(729		)
Total	13,865			13,457
Net losses and loss expenses paid in respect of losses occurring in:
Current year	4,920			4,522
Prior years	8,374			8,596
Total	13,294			13,118
Foreign currency revaluation and other	(162		)	(440		)
Net unpaid losses and loss expenses – end of period	48,680			49,064
Reinsurance recoverable on unpaid losses ⁽¹⁾	14,332			13,965
Gross unpaid losses and loss expenses – end of period	$	63,012		$	63,029


⁽¹⁾	Net of provision 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 $60 million and $86 million for the nine months ended September 30, 2019 and 2018, respectively.

Gross and net unpaid losses and loss expenses increased $52 million and $409 million, respectively, for the nine months ended September 30, 2019, reflecting an increase in the underlying reserves, partially offset by favorable prior period development and payments related to catastrophic events.

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 professional liability; 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 September 30									Nine Months Ended September 30
(in millions of U.S. dollars)	Long-tail			Short-tail			Total			Long-tail			Short-tail			Total
2019
North America Commercial P&C Insurance	$	(197	)	$	88		$	(109	)	$	(468	)	$	43		$	(425	)
North America Personal P&C Insurance	—			(62		)	(62		)	—			(88		)	(88		)
North America Agricultural Insurance	—			18			18			—			(43		)	(43		)
Overseas General Insurance	(66		)	41			(25		)	(66		)	17			(49		)
Global Reinsurance	(25		)	—			(25		)	(59		)	26			(33		)
Corporate	36			—			36			79			—			79
Total	$	(252	)	$	85		$	(167	)	$	(514	)	$	(45	)	$	(559	)
2018
North America Commercial P&C Insurance	$	(170	)	$	(46	)	$	(216	)	$	(266	)	$	(206	)	$	(472	)
North America Personal P&C Insurance	—			58			58			—			59			59
North America Agricultural Insurance	—			(1		)	(1		)	—			(77		)	(77		)
Overseas General Insurance	(49		)	(23		)	(72		)	(51		)	(115		)	(166		)
Global Reinsurance	(39		)	15			(24		)	(69		)	15			(54		)
Corporate	12			—			12			67			—			67
Total	$	(246	)	$	3		$	(243	)	$	(319	)	$	(324	)	$	(643	)

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

2019

For the three months ended September 30, 2019, net favorable PPD was $109 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 $197 million in long-tail business, primarily from:


•	Net favorable development of $94 million in workers' compensation business mainly impacting accident years 2015 and prior, driven by lower than expected paid and reported loss activity, and related improvements in loss development factors;


•	Net favorable development of $39 million in our foreign casualty business, impacting accident years 2015 and prior, driven by reported loss activity that was generally lower than expected;


•	Net favorable development of $36 million on large multi-line prospective deals in the 2015 and prior accident years, due to lower than expected reported loss activity. These structured deals typically cover large clients for multiple product lines and with varying loss limitations; this development is net of premium returns of $34 million tied to the loss performance of the particular deals; and

•

Net favorable development of $32 million in U.S. commercial excess and umbrella portfolios, mainly in accident years 2013 and prior, driven by lower paid and reported loss activity relative to prior expectations as well as an increase in weighting towards experience-based methods, partly offset by modestly adverse development in more recent accident years, mainly in 2018, due to higher than expected large loss activity.


•	Net adverse development of $88 million in short-tail business, primarily in our property and marine portfolios from:


•	Net adverse development excluding catastrophes of $116 million, with adverse development of $154 million across our retail, wholesale, and program distribution channels in accident year 2018, primarily due to a higher than expected severity of non-catastrophe claims, partly offset by favorable development of $38 million in 2017 and prior accident years on non-catastrophe claims; and


•	Net favorable catastrophe development of $27 million. There was $41 million of favorable development on the 2017 and 2018 natural catastrophes, mostly in 2017, partly offset by some adverse development on older catastrophe events.

For the nine months ended September 30, 2019, net favorable PPD was $425 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 $468 million in long-tail business, primarily from:

•

Net favorable development of $294 million in our workers’ compensation lines. This included favorable development of $61 million related to our annual assessment of multi-claimant events including industrial accidents, in the 2018 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. This development in accident year 2018 was partially offset by some higher than expected activity from other claims and from involuntary pools. The remaining overall favorable development was mainly in accident years 2015 and prior, generally driven by lower than expected loss experience and related updates to loss development factors;

•

Net favorable development of $63 million in U.S. commercial excess and umbrella portfolios due to the same factors experienced for the three months ended September 30, 2019, as described above with a similar result of favorable development in older accident years, partly offset by some adverse development in several of the more recent prior accident years which led to reserve strengthening in those years;


•	Net favorable development of $53 million in professional liability (errors & omissions and cyber), mainly in the 2015 and prior accident years where case activity was less than expected, partially offset by adverse development in the 2016 accident year, which was driven by several large adverse claim developments;


•	Net favorable development of $39 million in our foreign casualty business due to the same factors experienced for the three months ended September 30, 2019, as described above;


•	Net favorable development of $36 million on large multi-line prospective deals due to the same factors experienced for the three months ended September 30, 2019, as described above; and


•	Net adverse development of $31 million in automobile liability, driven by adverse paid and reported loss experience mainly in accident years 2014 through 2018.


•	Net adverse development of $43 million in short-tail business due to the same factors experienced for the three months ended September 30, 2019, as described above, which was partly offset by favorable development of $49 million in surety business, mainly in the 2017 accident year, driven by lower than expected reported loss activity.

2018

For the three months ended September 30, 2018, net favorable PPD was $216 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 $170 million in long-tail business, primarily from:


•	Favorable development of $93 million in commercial excess and umbrella portfolios primarily in accident years 2012 and prior driven by lower than expected reported loss activity, and an increase in weighting towards experience-based methods;


•	Favorable development of $45 million in workers' compensation lines mainly impacting accident years 2014 and prior, driven by lower than expected paid and reported loss activity, and related updates to development patterns used in our loss projection methods for select portfolios; and


•	Net favorable development of $28 million in our foreign casualty lines, primarily impacting accident years 2014 and prior, driven by reported loss activity that was generally lower than expected.


•	Net favorable development of $46 million in short-tail business, primarily from:


•	Net favorable development of $41 million in commercial property and marine businesses due to favorable claim development, including $42 million favorable development on the 2017 natural catastrophes.

For the nine months ended September 30, 2018, net favorable PPD was $472 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 $183 million in our workers’ compensation lines with favorable development of $56 million in the 2017 accident year mainly related to our annual assessment of multi-claimant events including industrial accidents. 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 net remaining favorable development of $127 million was principally due to lower than expected loss experience, mainly impacting accident years 2014 and prior;

•

Net favorable development of $123 million in our commercial excess and umbrella portfolios, primarily in accident years 2012 and prior. This was driven by lower than expected reported loss activity, and an increase in weighting towards experience-based methods, partially offset by higher than expected claim activity in the 2014 and 2015 accident years which led to reserve strengthening in those years;


•	Favorable development of $28 million in our foreign casualty lines due to the same factors as experienced for the three months ended September 30, 2018 as described above;


•	Net favorable development of $3 million on several lines of business due to favorable claim development on the 2017 natural catastrophes; and


•	Net adverse development of $71 million, mainly in our automobile liability, commercial-multi peril (CMP) liability, products and general liability lines, driven by adverse paid and reported loss activity relative to prior expectations in accident years 2015 through 2017, partly offset by favorable emergence in older accident years.


•	Net favorable development of $206 million in short-tail business, primarily from:


•	Net favorable development of $156 million in our commercial property and marine businesses due to favorable claim development, including $157 million favorable development on the 2017 natural catastrophes; and


•	Net favorable development of $50 million in other short-tail business, including $19 million in surety and also including several smaller net favorable movements from lower than expected case activity in other classes, such as accident and commercial automobile physical damage, none of which were significant individually or in the aggregate.

North America Personal P&C Insurance

2019

For the three months ended September 30, 2019, net favorable PPD was $62 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 $36 million in our homeowners lines, including valuables, mainly in accident year 2018. Non-catastrophe loss emergence was generally lower than expected in recent accident years. Losses arising from accident year 2017 natural catastrophes developed adversely; however, this was mostly offset by favorable development on the 2018 catastrophe events; and


•	Net favorable development of $26 million in our personal excess lines primarily impacting the 2016 accident year, due to lower than expected loss emergence and an increase in weighting towards experience-based methods, partly offset by adverse emergence in accident year 2015.

For the nine months ended September 30, 2019, net favorable PPD was $88 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:


•	Net favorable claim development of $132 million on the 2017 and 2018 natural catastrophes for all lines;


•	Net favorable development of $26 million in our personal excess lines due to the same factors experienced for the three months ended September 30, 2019, as described above;


•	Net favorable development of $16 million, which was the net result of several underlying favorable and adverse movements predominantly in the automobile and recreational marine lines; and


•	Net adverse development of $82 million in our homeowners lines, including valuables, arising from non-catastrophe loss emergence, mainly in the 2018 accident year.

2018

For the three months ended September 30, 2018, net adverse PPD was $58 million, which was the net result of several underlying favorable and adverse movements, and was driven by the following principal changes:

•

Net adverse development of $80 million in our homeowners and valuables lines, primarily impacting the 2017 accident year. Overall, non-catastrophe losses were $137 million higher than expected, partially offset by favorable claim development of $57 million on the 2017 natural catastrophes. The higher than expected non-catastrophe homeowners losses were primarily severity driven and included water related claims, large fire losses, and non-catastrophe weather claims; and


•	Net favorable development of $24 million in our personal excess lines primarily impacting the 2015 accident year, due to lower than expected loss emergence and an increase in weighting towards experience-based methods.

For the nine months ended September 30, 2018, net adverse PPD was $59 million, primarily due to the same factors as experienced for the three months ended September 30, 2018 as described above, including $68 million of favorable claim development on the 2017 natural catastrophes.

North America Agricultural Insurance

2019

For the three months ended September 30, 2019, net adverse PPD was $18 million, mainly impacting accident year 2018, across multiple product lines in our Farm and Commercial Agriculture businesses.

For the nine months ended September 30, 2019, net favorable PPD was $43 million, which is the net of the adverse activity noted above and favorable claim development in our Multiple Peril Crop Insurance (MPCI) business, which was due to better than expected crop yield results in certain states at the prior year-end period (i.e., 2019 results based on crop yield results at year-end 2018).

2018

For the three months ended September 30, 2018, net favorable PPD was $1 million, primarily due to favorable claim development on the 2017 natural catastrophes.

For the nine months ended September 30, 2018, net favorable PPD was $77 million, including $1 million favorable claim development on the 2017 natural catastrophes. Actual claim development relates to our Multiple Peril Crop Insurance (MPCI) business and is favorable due to better than expected crop yield results in certain states at the prior year-end period (i.e., 2018 results based on crop yield results at year-end 2017).

Overseas General Insurance

2019

For the three months ended September 30, 2019, net favorable PPD was $25 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 $66 million in long-tail business, primarily from:

•

Net favorable development of $101 million in casualty lines, including favorable development of $123 million in accident years 2015 and prior, due to lower than expected loss emergence mainly across primary lines in Continental Europe, U.K., and Asia Pacific, partially offset by adverse development of $22 million in accident years 2016 through 2018, primarily due to adverse attritional and large loss experience in Continental Europe; and

•

Net adverse development of $50 million in financial lines, with favorable development of $75 million in accident years 2015 and prior, due to lower than expected loss emergence across most regions in Directors and Officers (D&O) and Professional Indemnity, which was more than offset by adverse development of $125 million in accident years 2016 through 2018, primarily due to adverse large loss experience in D&O in the U.K. and Asia Pacific.


•	Net adverse development of $41 million in short-tail business, primarily due to net adverse development of $27 million in Surety, driven by adverse large loss experience across Continental Europe and Latin America in accident years 2017 and 2018.

For the nine months ended September 30, 2019, net favorable PPD was $49 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 $66 million in long-tail lines due to the same factors experienced for the three months ended September 30, 2019 described above; and


•	Net adverse development of $17 million in short-tail lines.

2018

For the three months ended September 30, 2018, net favorable PPD was $72 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 $49 million in long-tail business, primarily from:

•

Net favorable development of $54 million in casualty lines, with favorable development of $92 million in accident years 2014 and prior, resulting from lower than expected loss emergence across primary and excess lines in the U.K., Continental Europe and Asia Pacific, partially offset by adverse development of $38 million in accident years 2015 through 2017, primarily due to large loss experience in U.K. excess lines and wholesale business, and adverse development in certain Latin America excess lines;


•	Favorable development of $33 million, primarily including $12 million in political risks, $10 million in aviation and $10 million in environmental; and

•

Net adverse development of $38 million in financial lines, with favorable development of $93 million in accident years 2014 and prior, resulting from lower than expected loss emergence including favorable development due to specific large claim reductions in Asia financial institutions including wholesale bankers Directors and Officers (D&O) and bankers professional indemnity, and adverse development of $131 million in accident years 2015 through 2017, primarily due to adverse large loss experience in specific D&O and financial institutions portfolios in Australia, Continental Europe and the U.K.


•	Net favorable development of $23 million in short-tail business, primarily from:


•	Favorable development of $21 million in marine, primarily across accident years 2012 through 2015 driven mainly by favorable loss emergence in Latin America including favorable salvage/subrogation recoveries; and


•	Adverse development of $4 million from claim development on the 2017 natural catastrophes.

For the nine months ended September 30, 2018, net favorable PPD was $166 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 $51 million in long-tail business, driven by the same factors as experienced for the three months ended September 30, 2018 as described above.


•	Net favorable development of $115 million in short-tail business, primarily from:


•	Net favorable development of $50 million in property and marine (excluding technical lines), primarily in accident years 2014 through 2016, driven mainly by favorable loss emergence across all regions, including favorable claim-specific loss settlements and salvage/subrogation recoveries;


•	Favorable development of $8 million from claim development on the 2017 natural catastrophes; and


•	Net favorable development of $57 million, primarily including $17 million in personal business, $17 million in surety,$16 million in A&H business, and $13 million in energy lines.

Global Reinsurance

2019

For the three months ended September 30, 2019, net favorable PPD was $25 million, in long-tail business, primarily from professional liability, medical malpractice, and workers' compensation lines primarily from treaty years 2013 and prior principally due to lower than expected loss emergence.

For the nine months ended September 30, 2019, net favorable PPD was $33 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 $59 million in long-tail business, primarily in our casualty, professional liability, medical malpractice, and workers’ compensation lines primarily from treaty years 2013 and prior principally due to lower than expected loss emergence; and


•	Net adverse development of $26 million in short-tail business, which included $37 million of adverse development primarily on 2017 and 2018 natural catastrophe events.

2018

For the three months ended September 30, 2018, net favorable PPD was $24 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 $39 million in long-tail business, in our professional liability, medical malpractice, and workers' compensation lines primarily from treaty years 2013 and prior principally resulting from lower than expected loss emergence; and


•	Net adverse development of $15 million in short-tail business, due to claim development on the 2017 natural catastrophes.

For the nine months ended September 30, 2018, net favorable PPD was $54 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 $69 million in long-tail business, primarily in our casualty, professional liability, medical malpractice, and workers' compensation lines primarily from treaty years 2013 and prior principally resulting from lower than expected loss emergence; and


•	Net adverse development of $15 million in short-tail business, which included $14 million of net adverse claim development on the 2017 natural catastrophes.

Corporate

2019

For the three months ended September 30, 2019, net adverse development was $36 million, driven principally by adverse development in environmental liabilities of $27 million due to case specific settlements and higher than expected remediation expense and defense costs, generally impacting larger modeled accounts. The net adverse development also included charges relating to unallocated loss adjustment expenses due to run-off operating expenses of $9 million.

For the nine months ended September 30, 2019, net adverse development was $79 million, driven principally by adverse development on non A&E run-off casualty exposures, including workers' compensation, and by the adverse development in environmental liabilities as described above. The net adverse development also included charges relating to unallocated loss adjustment expenses due to run-off operating expenses of $28 million.

2018

For the three months ended September 30, 2018, net adverse development was $12 million, driven principally by adverse development in environmental liabilities of $54 million due to case specific settlements and higher than expected remediation expense and defense costs, generally impacting larger modeled accounts. This adverse development was partially offset by a favorable adjustment in our estimate of reinsurance recoverables.

For the nine months ended September 30, 2018, net adverse development was $67 million, driven principally by adverse development on non A&E run-off casualty exposures and by the adverse development in environmental liabilities as described above.

Debt	9 Months Ended
Debt	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt On June 18, 2019, Chubb INA Holdings Inc. (Chubb INA) issued €575 million ($650 million based on the foreign exchange rate at the date of issuance) of 0.875 percent Euro denominated senior notes due June 2027 and €575 million ($650 million based on the foreign exchange rate at the date of issuance) of 1.4 percent Euro denominated senior notes due June 2031. These senior notes are redeemable at any time at Chubb INA's option subject to a “make-whole” premium (the present value of the remaining principal and interest discounted at the applicable comparable government bond rate plus 0.20 percent for the senior notes due 2027 and 0.25 percent for the senior notes due 2031). The notes are also redeemable at par plus accrued and unpaid interest in the event of certain changes in tax law. These notes do not have the benefit of any sinking fund. These senior unsecured notes are guaranteed on a senior basis by Chubb and they rank equally with all of Chubb's other senior obligations. They also contain customary limitations on lien provisions as well as customary events of default provisions which, if breached, could result in the accelerated maturity of such senior debt. Chubb INA's $500 million of 5.9 percent senior notes due June 2019 were paid upon maturity.

Commitments, contingencies, and guarantees

9 Months Ended

Sep. 30, 2019

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 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. Benefit reserves in respect of GLBs are classified as Future policy benefits (FPB) while the fair value derivative adjustment 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 books 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:



				September 30, 2019							December 31, 2018
	Consolidated Balance Sheet Location	Fair Value					Notional Value/ Payment Provision		Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)	Consolidated Balance Sheet Location	Derivative Asset		Derivative (Liability)			Notional Value/ Payment Provision		Derivative Asset		Derivative (Liability)			Notional Value/ Payment Provision
Investment and embedded derivative instruments:
Foreign currency forward contracts	OA / (AP)	$	10	$	(59	)	$	2,888	$	15	$	(19	)	$	2,185
Cross-currency swaps	OA / (AP)	—		—			—		—		—			45
Interest rate swaps	OA / (AP)	—		—			—		—		(115		)	5,250
Options/Futures contracts on notes, bonds, and equities	OA / (AP)	12		(4		)	853		13		(19		)	1,046
Convertible securities ⁽¹⁾	FM AFS / ES	5		—			8		9		—			11
TBAs	FM AFS	—		—			—		6		—			6
		$	27	$	(63	)	$	3,749	$	43	$	(153	)	$	8,543
Other derivative instruments:
Futures contracts on equities⁽²⁾	OA / (AP)	$	6	$	—		$	582	$	23	$	—		$	507
Other	OA / (AP)	1		—			207		2		—			74
		$	7	$	—		$	789	$	25	$	—		$	581
GLB ⁽³⁾	(AP) / (FPB)	$	—	$	(935	)	$	1,729	$	—	$	(861	)	$	1,750


⁽¹⁾	Includes fair value of embedded derivatives.


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


⁽³⁾	Includes both future policy benefits reserves of $426 million and $409 million and fair value derivative adjustment of $509 million and $452 million at September 30, 2019 and December 31, 2018, respectively. 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 September 30, 2019 and December 31, 2018, derivative liabilities of $30 million and $95 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						Nine Months Ended
	September 30						September 30
(in millions of U.S. dollars)	2019			2018			2019			2018
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(20	)	$	(2	)	$	(57	)	$	5
Interest rate swaps	(55		)	26			(270		)	26
All other futures contracts, options, and equities	(22		)	13			(83		)	47
Convertible securities ⁽¹⁾	—			—			2			—
Total investment and embedded derivative instruments	$	(97	)	$	37		$	(408	)	$	78
GLB and other derivative instruments:
GLB ⁽²⁾	$	(106	)	$	54		$	(57	)	$	133
Futures contracts on equities ⁽³⁾	(6		)	(100		)	(89		)	(122		)
Other	(14		)	(8		)	(8		)	2
Total GLB and other derivative instruments	$	(126	)	$	(54	)	$	(154	)	$	13
	$	(223	)	$	(17	)	$	(562	)	$	91


⁽¹⁾	Includes embedded derivatives.


⁽²⁾	Excludes foreign exchange gains (losses) related to GLB.


⁽³⁾	Related to GMDB and GLB books 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 foreign 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 reserves for GMDB and 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, 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.

Interest rate swaps

An interest rate swap is a contract between two counterparties in which interest payments are made based on a notional principal amount, which itself is never paid or received. Under the terms of an interest rate swap, one counterparty makes interest payments based on a fixed interest rate and the other counterparty’s payments are based on a floating rate. Interest rate swap contracts are used occasionally in our investment portfolio as protection against unexpected shifts in interest rates, which would affect the fair value of the fixed maturity portfolio. By using interest rate swaps in the portfolio, the overall duration or interest rate sensitivity of the portfolio can be impacted.

Cross-currency swaps

Cross-currency swaps are agreements under which two counterparties exchange interest payments and principal denominated in different currencies at a future date. We use cross-currency swaps to reduce the foreign currency and interest rate risk by converting cash flows back into local currency. We invest in foreign currency denominated investments to improve credit diversification and also to obtain better duration matching to our liabilities that is limited in the local currency market.

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 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. Premiums received under the reinsurance treaties are classified as premium. Expected losses allocated to premiums received are classified as Future policy benefits and valued similar to GMDB reinsurance. Other changes in fair value arise principally from changes in expected losses allocated to expected future premiums. 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
	September 30		December 31
	2019		2018
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	562	$	756
U.S. Treasury and agency	70		64
Foreign	249		795
Corporate securities	17		15
Mortgage-backed securities	18		45
Equity securities	46		251
	$	962	$	1,926
Gross amount of recognized liability for securities lending payable	$	962	$	1,926

At September 30, 2019 and December 31, 2018, our repurchase agreement obligations of $1,416 million and $1,418 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
	September 30, 2019						December 31, 2018
	30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)	30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
Collateral pledged under repurchase agreements:
U.S. Treasury and agency	$	—	$	107	$	107	$	—	$	259	$	259
Mortgage-backed securities	488		879		1,367		496		713		1,209
	$	488	$	986	$	1,474	$	496	$	972	$	1,468
Gross amount of recognized liabilities for repurchase agreements					$	1,416					$	1,418
Difference ⁽¹⁾					$	58					$	50


⁽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 September 30, 2019, we have commitments to purchase fixed income securities of $799 million over the next several years.

e) Other investments

At September 30, 2019, included in Other investments in the Consolidated balance sheets are investments in limited partnerships and partially-owned investment companies with a carrying value of $4.6 billion. In connection with these investments, we have commitments that may require funding of up to $3.5 billion over the next several years.

f) Income Taxes

At September 30, 2019, $13 million of unrecognized tax benefits remain outstanding. It is reasonably possible that over the next twelve months, that the amount of unrecognized tax benefits may change resulting from the re-evaluation of unrecognized tax benefits arising from examinations by taxing authorities and the lapses of statutes of limitations. With few exceptions, Chubb is no longer subject to income tax examinations for years before 2010.

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) Leases

At September 30, 2019, the right-of-use asset was $577 million recorded within Other assets, and the lease liability was $617 million, which was recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheet. These leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease.

Share-based compensation	9 Months Ended
Share-based compensation	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation	Share-based compensation The Chubb Limited 2016 Long-Term Incentive Plan (the 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 28, 2019, Chubb granted 2,073,712 stock options with a weighted-average grant date fair value of $18.79 each. The fair value of the options issued is estimated on the grant date using the Black-Scholes option pricing model. The 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. Beginning in 2017, 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 granted at market close price on the grant date. On February 28, 2019, Chubb granted 1,078,247 service-based restricted stock awards, 357,463 service-based restricted stock units, and 212,059 performance-based stock awards to employees and officers with a grant date fair value of $133.90 each. Each restricted stock unit represents our obligation to deliver to the holder one Common Share upon vesting.

Shareholders' equity

9 Months Ended

Sep. 30, 2019

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 consolidated financial statements. Under Swiss corporate law, dividends, including distributions through a reduction in par value (par value reduction) or from legal reserves, must be stated in Swiss francs though dividend payments are made by Chubb in U.S. dollars. At September 30, 2019, our Common Shares had a par value of CHF 24.15 per share.

At our May 2018 and 2017 annual general meetings, our shareholders approved an annual dividend for the following year of up to $2.92 per share and $2.84 per share, respectively, which were paid in four quarterly installments of $0.73 per share and $0.71 per share, respectively, at dates determined by the Board of Directors (Board) after the annual general meetings by way of a distribution from capital contribution reserves, transferred to free reserves for payment.

At our May 2019 annual general meeting, our shareholders approved an annual dividend for the following year of up to $3.00 per share, expected to be paid in four quarterly installments of $0.75 per share after the general meeting by way of distribution from capital contribution reserves, transferred to free reserves for payment. The Board will determine the record and payment dates at which the annual dividend may be paid until the date of the 2020 annual general meeting, and is authorized to abstain from distributing a dividend at its discretion.

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



	Three Months Ended						Nine Months Ended
	September 30						September 30
	2019			2018			2019			2018
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.73	$	0.75	0.72	$	0.73	2.20	$	2.23	2.11	$	2.17

Common Shares in treasury are used principally for issuance upon the exercise of employee stock options, grants of restricted stock, and purchases under the Employee Stock Purchase Plan (ESPP). At September 30, 2019, 26,250,222 Common Shares remain in treasury after net shares redeemed under employee share-based compensation plans.

Chubb Limited securities repurchase authorization

In December 2017, the Board authorized a share repurchase program of $1.0 billion of Chubb's Common Shares from January 1, 2018 through December 31, 2018. In December 2018, the Board authorized the repurchase of up to $1.5 billion of Chubb's Common Shares from December 1, 2018 through December 31, 2019.

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 September 30				Nine Months Ended September 30				October 1, 2019 through October 30, 2019
(in millions of U.S. dollars, except share data)	2019		2018		2019		2018		October 1, 2019 through October 30, 2019
Number of shares repurchased	3,079,618		2,781,307		8,417,838		5,225,162		700,900
Cost of shares repurchased	$	478	$	379	$	1,221	$	703	$	108
Repurchase authorization remaining at end of period	$	258	$	297	$	258	$	297	$	150

Postretirement benefits

9 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Compensation and Employee Benefit Plans [Text Block]

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
	2019						2018						2019			2018
Three Months Ended September 30	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Service cost	$	12		$	3		$	14		$	3		$	—		$	1
Non-service cost:
Interest cost	30			6			26			6			1			1
Expected return on plan assets	(47		)	(11		)	(53		)	(12		)	(1		)	(2		)
Amortization of net actuarial loss	—			1			—			1			—			—
Amortization of prior service cost	—			—			—			—			(20		)	(21		)
Curtailments	—			—			—			—			—			(1		)
Settlements	1			—			—			—			—			—
Total non-service (benefit) cost	(16		)	(4		)	(27		)	(5		)	(20		)	(23		)
Net periodic (benefit) cost	$	(4	)	$	(1	)	$	(13	)	$	(2	)	$	(20	)	$	(22	)



	Pension Benefit Plans												Other Postretirement Benefit Plans
	2019						2018						2019			2018
Nine Months Ended September 30	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Service cost	$	37		$	8		$	43		$	9		$	—		$	1
Non-service cost:
Interest cost	89			20			79			20			3			3
Expected return on plan assets	(142		)	(33		)	(159		)	(38		)	(3		)	(4		)
Amortization of net actuarial loss	—			2			—			1			—			—
Amortization of prior service cost	—			—			—			—			(60		)	(64		)
Curtailments	—			—			—			—			—			(2		)
Settlements	1			—			1			—			—			—
Total non-service (benefit) cost	(52		)	(11		)	(79		)	(17		)	(60		)	(67		)
Net periodic (benefit) cost	$	(15	)	$	(3	)	$	(36	)	$	(8	)	$	(60	)	$	(66	)

The service and non-service cost components of net periodic (benefit) cost reflected in the Consolidated statements of operations were as follows:



	Pension Benefit Plans						Other Postretirement Benefit Plans
Three Months Ended September 30	2019			2018			2019			2018
(in millions of U.S. dollars)	2019			2018			2019			2018
Service Cost:
Losses and loss expenses	$	2		$	2		$	—		$	—
Administrative expenses	13			15			—			1
Total service cost	15			17			—			1
Non-service Cost:
Losses and loss expenses	(1		)	(3		)	(2		)	(3		)
Administrative expenses	(19		)	(29		)	(18		)	(20		)
Total non-service (benefit) cost	(20		)	(32		)	(20		)	(23		)
Net periodic (benefit) cost	$	(5	)	$	(15	)	$	(20	)	$	(22	)



	Pension Benefit Plans						Other Postretirement Benefit Plans
Nine Months Ended September 30	2019			2018			2019			2018
(in millions of U.S. dollars)	2019			2018			2019			2018
Service Cost:
Losses and loss expenses	$	5		$	5		$	—		$	—
Administrative expenses	40			47			—			1
Total service cost	45			52			—			1
Non-service Cost:
Losses and loss expenses	(5		)	(8		)	(6		)	(7		)
Administrative expenses	(58		)	(88		)	(54		)	(60		)
Total non-service (benefit) cost	(63		)	(96		)	(60		)	(67		)
Net periodic (benefit) cost	$	(18	)	$	(44	)	$	(60	)	$	(66	)

Segment information

9 Months Ended

Sep. 30, 2019

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 loss and loss expenses of asbestos and environmental (A&E) liabilities and certain other non-A&E run-off exposures.

For segment reporting purposes, certain items are presented in a different manner below than in the consolidated financial statements. Management uses underwriting income (loss) as the main measures of 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. To calculate Segment income (loss), include Net investment income (loss), Other (income) expense, and Amortization of purchased intangibles. For the North America Agricultural Insurance segment, management includes gains and losses on crop derivatives as a component of underwriting income (loss). For example, for the three months ended September 30, 2019, underwriting income in our North America Agricultural Insurance segment was $1 million. This amount includes $14 million of realized losses related to crop derivatives which are reported in Net realized gains (losses) in the Corporate column below.

For the Life Insurance segment, management includes Net investment income and (Gains) losses from fair value changes in separate account assets that do not qualify for separate account reporting under GAAP as components of Life Insurance

underwriting income. For example, for the three months ended September 30, 2019, Life Insurance underwriting income of $79 million includes Net investment income of $92 million and losses from fair value changes in separate account assets of $7 million. The losses from fair value changes in separate account assets are reported in Other (income) expense in the table below.

The following tables present the Statement of Operations by segment:



For the Three Months Ended September 30, 2019 (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			Chubb Consolidated



Net premiums written	$	3,452		$	1,251	$	938	$	2,228	$	141		$	612		$	—		$	8,622
Net premiums earned	3,185			1,187		941		2,256		160			598			—			8,327
Losses and loss expenses	2,051			674		866		1,154		79			190			38			5,052
Policy benefits	—			—		—		—		—			158			—			158
Policy acquisition costs	459			240		56		630		42			176			—			1,603
Administrative expenses	256			72		4		257		9			80			74			752
Underwriting income (loss)	419			201		15		215		30			(6		)	(112		)	762
Net investment income (loss)	532			66		8		148		55			92			(28		)	873
Other (income) expense	(1		)	1		—		3		(16		)	(10		)	(34		)	(57		)
Amortization expense of purchased intangibles	—			3		7		11		—			1			54			76
Segment income (loss)	$	952		$	263	$	16	$	349	$	101		$	95		$	(160	)	$	1,616
Net realized gains (losses) including OTTI																(155		)	(155		)
Interest expense																138			138
Chubb integration expenses																2			2
Income tax expense																230			230
Net income (loss)																$	(685	)	$	1,091



For the Three Months Ended September 30, 2018 (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			Chubb Consolidated



Net premiums written	$	3,199		$	1,218	$	884	$	2,081		$	164		$	564	$	—		$	8,110
Net premiums earned	3,019			1,167		857		2,157			157			551		—			7,908
Losses and loss expenses	1,881			860		719		1,114			86			195		13			4,868
Policy benefits	—			—		—		—			—			127		—			127
Policy acquisition costs	458			236		49		582			40			139		—			1,504
Administrative expenses	251			69		2		252			10			77		58			719
Underwriting income (loss)	429			2		87		209			21			13		(71		)	690
Net investment income (loss)	503			59		7		155			63			85		(49		)	823
Other (income) expense	(1		)	—		—		(7		)	(13		)	20		(144		)	(145		)
Amortization expense of purchased intangibles	—			4		7		8			—			—		64			83
Segment income (loss)	$	933		$	57	$	87	$	363		$	97		$	78	$	(40	)	$	1,575
Net realized gains (losses) including OTTI																19			19
Interest expense																164			164
Chubb integration expenses																16			16
Income tax expense																183			183
Net income (loss)																$	(384	)	$	1,231



For the Nine Months Ended September 30, 2019 (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			Chubb Consolidated



Net premiums written	$	9,937		$	3,616	$	1,534	$	6,881	$	540		$	1,770		$	—		$	24,278
Net premiums earned	9,660			3,509		1,374		6,595		487			1,730			—			23,355
Losses and loss expenses	6,238			2,178		1,155		3,385		245			581			83			13,865
Policy benefits	—			—		—		—		—			515			—			515
Policy acquisition costs	1,377			708		90		1,855		127			454			—			4,611
Administrative expenses	755			211		9		771		26			237			211			2,220
Underwriting income (loss)	1,290			412		120		584		89			(57		)	(294		)	2,144
Net investment income (loss)	1,563			194		22		443		166			278			(98		)	2,568
Other (income) expense	(4		)	2		1		10		(40		)	(57		)	(238		)	(326		)
Amortization expense of purchased intangibles	—			9		21		34		—			2			163			229
Segment income (loss)	$	2,857		$	595	$	120	$	983	$	295		$	276		$	(317	)	$	4,809
Net realized gains (losses) including OTTI																(475		)	(475		)
Interest expense																418			418
Chubb integration expenses																9			9
Income tax expense																626			626
Net income (loss)																$	(1,845	)	$	3,281



For the Nine Months Ended September 30, 2018 (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			Chubb Consolidated



Net premiums written	$	9,342		$	3,601	$	1,380	$	6,664		$	554		$	1,688		$	—		$	23,229
Net premiums earned	9,325			3,463		1,251		6,425			492			1,643			—			22,599
Losses and loss expenses	5,873			2,474		955		3,263			236			584			72			13,457
Policy benefits	—			—		—		—			—			428			—			428
Policy acquisition costs	1,378			701		74		1,754			120			405			—			4,432
Administrative expenses	735			202		—		757			29			235			200			2,158
Underwriting income (loss)	1,339			86		222		651			107			(9		)	(272		)	2,124
Net investment income (loss)	1,516			177		20		461			192			253			(162		)	2,457
Other (income) expense	(20		)	1		1		(12		)	(26		)	24			(275		)	(307		)
Amortization expense of purchased intangibles	—			10		21		29			—			1			192			253
Segment income (loss)	$	2,875		$	252	$	220	$	1,095		$	325		$	219		$	(351	)	$	4,635
Net realized gains (losses) including OTTI																	35			35
Interest expense																	488			488
Chubb integration expenses																	39			39
Income tax expense																	536			536
Net income (loss)																	$	(1,379	)	$	3,607

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

Earnings per share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings per share



	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share and per share data)	2019		2018		2019		2018
Numerator:
Net income	$	1,091	$	1,231	$	3,281	$	3,607
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	454,975,143		462,981,973		456,987,560		464,644,013
Denominator for diluted earnings per share:
Share-based compensation plans	3,175,226		3,034,525		2,937,026		3,360,511
Weighted-average shares outstanding and assumed conversions	458,150,369		466,016,498		459,924,586		468,004,524
Basic earnings per share	$	2.40	$	2.66	$	7.18	$	7.76
Diluted earnings per share	$	2.38	$	2.64	$	7.13	$	7.71
Potential anti-dilutive share conversions	575,039		3,763,844		3,874,310		3,467,000

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods.

Information provided in connection with outstanding debt of subsidiaries

9 Months Ended

Sep. 30, 2019

Disclosure Text Block Supplement [Abstract]

Information provided in connection with outstanding debt of subsidiaries

The following tables present condensed consolidating financial information at September 30, 2019 and December 31, 2018, and for the three and nine months ended September 30, 2019 and 2018 for Chubb Limited (Parent Guarantor) and Chubb INA Holdings Inc. (Subsidiary Issuer). The Subsidiary Issuer is an indirect 100 percent-owned subsidiary of the Parent Guarantor. The Parent Guarantor fully and unconditionally guarantees certain of the debt of the Subsidiary Issuer. Condensed consolidating financial information of the Parent Guarantor and Subsidiary Issuer are presented on the equity method of accounting. The revenues and expenses and cash flows of the subsidiaries of the Subsidiary Issuer are presented in the Other Chubb Limited Subsidiaries column on a combined basis.

Condensed Consolidating Balance Sheet at September 30, 2019



(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)		Chubb INA Holdings Inc. (Subsidiary Issuer)		Other Chubb Limited Subsidiaries		Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Assets
Investments	$	—	$	227	$	106,951	$	—		$	107,178
Cash ⁽¹⁾	2		—		2,706		(1,230		)	1,478
Restricted cash	—		—		111		—			111
Insurance and reinsurance balances receivable	—		—		12,519		(2,116		)	10,403
Reinsurance recoverable on losses and loss expenses	—		—		25,284		(9,757		)	15,527
Reinsurance recoverable on policy benefits	—		—		293		(94		)	199
Value of business acquired	—		—		274		—			274
Goodwill and other intangible assets	—		—		21,378		—			21,378
Investments in subsidiaries	49,471		53,381		—		(102,852		)	—
Due from subsidiaries and affiliates, net	6,068		—		—		(6,068		)	—
Other assets	7		486		20,011		(1,904		)	18,600
Total assets	$	55,548	$	54,094	$	189,527	$	(124,021	)	$	175,148
Liabilities
Unpaid losses and loss expenses	$	—	$	—	$	72,389	$	(9,377	)	$	63,012
Unearned premiums	—		—		17,767		(1,196		)	16,571
Future policy benefits	—		—		5,832		(94		)	5,738
Due to subsidiaries and affiliates, net	—		5,953		115		(6,068		)	—
Affiliated notional cash pooling programs ⁽¹⁾	628		602		—		(1,230		)	—
Repurchase agreements	—		—		1,416		—			1,416
Short-term debt	—		—		10		—			10
Long-term debt	—		13,285		—		—			13,285
Trust preferred securities	—		308		—		—			308
Other liabilities	348		1,814		21,278		(3,204		)	20,236
Total liabilities	976		21,962		118,807		(21,169		)	120,576
Total shareholders’ equity	54,572		32,132		70,720		(102,852		)	54,572
Total liabilities and shareholders’ equity	$	55,548	$	54,094	$	189,527	$	(124,021	)	$	175,148

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Balance Sheet at December 31, 2018



(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)		Chubb INA Holdings Inc. (Subsidiary Issuer)		Other Chubb Limited Subsidiaries		Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Assets
Investments	$	—	$	214	$	100,754	$	—		$	100,968
Cash ⁽¹⁾	1		2		1,896		(652		)	1,247
Restricted cash	—		—		93		—			93
Insurance and reinsurance balances receivable	—		—		11,861		(1,786		)	10,075
Reinsurance recoverable on losses and loss expenses	—		—		26,422		(10,429		)	15,993
Reinsurance recoverable on policy benefits	—		—		306		(104		)	202
Value of business acquired	—		—		295		—			295
Goodwill and other intangible assets	—		—		21,414		—			21,414
Investments in subsidiaries	43,531		50,209		—		(93,740		)	—
Due from subsidiaries and affiliates, net	7,074		—		598		(7,672		)	—
Other assets	3		1,007		18,102		(1,628		)	17,484
Total assets	$	50,609	$	51,432	$	181,741	$	(116,011	)	$	167,771
Liabilities
Unpaid losses and loss expenses	$	—	$	—	$	72,857	$	(9,897	)	$	62,960
Unearned premiums	—		—		16,611		(1,079		)	15,532
Future policy benefits	—		—		5,610		(104		)	5,506
Due to subsidiaries and affiliates, net	—		7,672		—		(7,672		)	—
Affiliated notional cash pooling programs ⁽¹⁾	35		617		—		(652		)	—
Repurchase agreements	—		—		1,418		—			1,418
Short-term debt	—		500		9		—			509
Long-term debt	—		12,086		1		—			12,087
Trust preferred securities	—		308		—		—			308
Other liabilities	262		2,545		19,199		(2,867		)	19,139
Total liabilities	297		23,728		115,705		(22,271		)	117,459
Total shareholders’ equity	50,312		27,704		66,036		(93,740		)	50,312
Total liabilities and shareholders’ equity	$	50,609	$	51,432	$	181,741	$	(116,011	)	$	167,771

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Three Months Ended September 30, 2019	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	8,622		$	—		$	8,622
Net premiums earned	—			—			8,327			—			8,327
Net investment income	1			(3		)	875			—			873
Equity in earnings of subsidiaries	1,053			824			—			(1,877		)	—
Net realized gains (losses) including OTTI	(4		)	68			(219		)	—			(155		)
Losses and loss expenses	—			—			5,052			—			5,052
Policy benefits	—			—			158			—			158
Policy acquisition costs and administrative expenses	22			(5		)	2,338			—			2,355
Interest (income) expense	(59		)	171			26			—			138
Other (income) expense	(7		)	(3		)	(47		)	—			(57		)
Amortization of purchased intangibles	—			—			76			—			76
Chubb integration expenses	—			—			2			—			2
Income tax expense (benefit)	3			(33		)	260			—			230
Net income	$	1,091		$	759		$	1,118		$	(1,877	)	$	1,091
Comprehensive income	$	1,473		$	1,138		$	1,517		$	(2,655	)	$	1,473

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Three Months Ended September 30, 2018	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	8,110		$	—		$	8,110
Net premiums earned	—			—			7,908			—			7,908
Net investment income	2			3			818			—			823
Equity in earnings of subsidiaries	1,177			709			—			(1,886		)	—
Net realized gains (losses) including OTTI	(1		)	18			2			—			19
Losses and loss expenses	—			—			4,868			—			4,868
Policy benefits	—			—			127			—			127
Policy acquisition costs and administrative expenses	23			(90		)	2,290			—			2,223
Interest (income) expense	(75		)	203			36			—			164
Other (income) expense	(9		)	12			(148		)	—			(145		)
Amortization of purchased intangibles	—			—			83			—			83
Chubb integration expenses	3			1			12			—			16
Income tax expense (benefit)	5			(24		)	202			—			183
Net income	$	1,231		$	628		$	1,258		$	(1,886	)	$	1,231
Comprehensive income	$	592		$	47		$	640		$	(687	)	$	592

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Nine Months Ended September 30, 2019	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	24,278		$	—		$	24,278
Net premiums earned	—			—			23,355			—			23,355
Net investment income	3			(13		)	2,578			—			2,568
Equity in earnings of subsidiaries	3,147			2,345			—			(5,492		)	—
Net realized gains (losses) including OTTI	1			34			(510		)	—			(475		)
Losses and loss expenses	—			—			13,865			—			13,865
Policy benefits	—			—			515			—			515
Policy acquisition costs and administrative expenses	64			(25		)	6,792			—			6,831
Interest (income) expense	(187		)	536			69			—			418
Other (income) expense	(19		)	1			(308		)	—			(326		)
Amortization of purchased intangibles	—			—			229			—			229
Chubb integration expenses	—			2			7			—			9
Income tax expense (benefit)	12			(120		)	734			—			626
Net income	$	3,281		$	1,972		$	3,520		$	(5,492	)	$	3,281
Comprehensive income	$	6,250		$	4,476		$	6,486		$	(10,962	)	$	6,250

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Nine Months Ended September 30, 2018	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	23,229		$	—		$	23,229
Net premiums earned	—			—			22,599			—			22,599
Net investment income	5			12			2,440			—			2,457
Equity in earnings of subsidiaries	3,440			2,048			—			(5,488		)	—
Net realized gains (losses) including OTTI	(1		)	67			(31		)	—			35
Losses and loss expenses	—			—			13,457			—			13,457
Policy benefits	—			—			428			—			428
Policy acquisition costs and administrative expenses	64			(49		)	6,575			—			6,590
Interest (income) expense	(231		)	616			103			—			488
Other (income) expense	(18		)	28			(317		)	—			(307		)
Amortization of purchased intangibles	—			—			253			—			253
Chubb integration expenses	7			2			30			—			39
Income tax expense (benefit)	15			(119		)	640			—			536
Net income	$	3,607		$	1,649		$	3,839		$	(5,488	)	$	3,607
Comprehensive income (loss)	$	1,322		$	(199	)	$	1,606		$	(1,407	)	$	1,322

Condensed Consolidating Statement of Cash Flows



Nine Months Ended September 30, 2019	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)
Net cash flows from operating activities	$	421		$	1,118		$	5,234		$	(1,860	)	$	4,913
Cash flows from investing activities
Purchases of fixed maturities available for sale	—			(16		)	(19,762		)	—			(19,778		)
Purchases of fixed maturities held to maturity	—			—			(143		)	—			(143		)
Purchases of equity securities	—			—			(466		)	—			(466		)
Sales of fixed maturities available for sale	—			1			10,435			—			10,436
Sales of equity securities	—			—			577			—			577
Maturities and redemptions of fixed maturities available for sale	—			18			6,372			—			6,390
Maturities and redemptions of fixed maturities held to maturity	—			—			814			—			814
Net change in short-term investments	—			(5		)	207			—			202
Net derivative instruments settlements	—			(55		)	(592		)	—			(647		)
Private equity contributions	—			—			(1,093		)	—			(1,093		)
Private equity distributions	—			—			973			—			973
Capital contribution	(1,000		)	(110		)	—			1,110			—
Other	—			(10		)	(816		)	—			(826		)
Net cash flows used for investing activities	(1,000		)	(177		)	(3,494		)	1,110			(3,561		)
Cash flows from financing activities
Dividends paid on Common Shares	(1,014		)	—			—			—			(1,014		)
Common Shares repurchased	—			—			(1,203		)	—			(1,203		)
Proceeds from issuance of long-term debt	—			1,286			—			—			1,286
Repayment of long-term debt	—			(500		)	(1		)	—			(501		)
Proceeds from issuance of repurchase agreements	—			—			2,394			—			2,394
Repayment of repurchase agreements	—			—			(2,396		)	—			(2,396		)
Proceeds from share-based compensation plans	—			—			155			—			155
Dividend to parent company	—			—			(1,860		)	1,860			—
Advances (to) from affiliates	996			(1,715		)	719			—			—
Capital contribution	—			—			1,110			(1,110		)	—
Net proceeds from (payments to) affiliated notional cash pooling programs ⁽¹⁾	593			(15		)	—			(578		)	—
Policyholder contract deposits	—			—			376			—			376
Policyholder contract withdrawals	—			—			(221		)	—			(221		)
Net cash flows from (used for) financing activities	575			(944		)	(927		)	172			(1,124		)
Effect of foreign currency rate changes on cash and restricted cash	5			1			15			—			21
Net increase (decrease) in cash and restricted cash	1			(2		)	828			(578		)	249
Cash and restricted cash – beginning of period ⁽¹⁾	1			2			1,989			(652		)	1,340
Cash and restricted cash – end of period ⁽¹⁾	$	2		$	—		$	2,817		$	(1,230	)	$	1,589

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019 and December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Statement of Cash Flows



Nine Months Ended September 30, 2018	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)
Net cash flows from operating activities	$	237		$	4,701		$	3,797		$	(4,838	)	$	3,897
Cash flows from investing activities
Purchases of fixed maturities available for sale	—			(30		)	(16,758		)	—			(16,788		)
Purchases of fixed maturities held to maturity	—			—			(380		)	—			(380		)
Purchases of equity securities	—			—			(148		)	—			(148		)
Sales of fixed maturities available for sale	—			6			9,035			—			9,041
Sales of equity securities	—			—			247			—			247
Maturities and redemptions of fixed maturities available for sale	—			15			5,467			—			5,482
Maturities and redemptions of fixed maturities held to maturity	—			—			1,001			—			1,001
Net change in short-term investments	—			6			58			—			64
Net derivative instruments settlements	—			(7		)	(39		)	—			(46		)
Private equity contributions	—			—			(1,112		)	—			(1,112		)
Private equity distributions	—			—			743			—			743
Capital contribution	(1,125		)	(3,500		)	—			4,625			—
Other	—			(18		)	(213		)	—			(231		)
Net cash flows used for investing activities	(1,125		)	(3,528		)	(2,099		)	4,625			(2,127		)
Cash flows from financing activities
Dividends paid on Common Shares	(1,001		)	—			—			—			(1,001		)
Common Shares repurchased	—			—			(732		)	—			(732		)
Proceeds from issuance of long-term debt	—			2,171			—			—			2,171
Repayment of long-term debt	—			(2,000		)	(1		)	—			(2,001		)
Proceeds from issuance of repurchase agreements	—			—			1,572			—			1,572
Repayment of repurchase agreements	—			—			(1,566		)	—			(1,566		)
Proceeds from share-based compensation plans	—			—			86			—			86
Dividend to parent company	—			—			(4,838		)	4,838			—
Advances (to) from affiliates	1,722			(1,310		)	(412		)	—			—
Capital contribution	—			—			4,625			(4,625		)	—
Net proceeds from affiliated notional cash pooling programs ⁽¹⁾	165			(34		)	—			(131		)	—
Policyholder contract deposits	—			—			269			—			269
Policyholder contract withdrawals	—			—			(222		)	—			(222		)
Net cash flows from (used for) financing activities	886			(1,173		)	(1,219		)	82			(1,424		)
Effect of foreign currency rate changes on cash and restricted cash	(1		)	—			(39		)	—			(40		)
Net increase (decrease) in cash and restricted cash	(3		)	—			440			(131		)	306
Cash and restricted cash – beginning of period ⁽¹⁾	3			1			962			(115		)	851
Cash and restricted cash – end of period ⁽¹⁾	$	—		$	1		$	1,402		$	(246	)	$	1,157

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2018 and December 31, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

General (Policies)

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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. Chubb operates 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 10 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 (consisting of normally recurring accruals) 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 2018 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:



	September 30		December 31
(in millions of U.S. dollars)	2019		2018
Cash	$	1,478	$	1,247
Restricted cash	111		93
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	1,589	$	1,340

Accounting guidance adopted in 2019

Premium Amortization on Purchased Callable Debt Securities

Effective January 1, 2019, we adopted new accounting guidance on "Premium Amortization on Purchased Callable Debt Securities" for bonds held at a premium on a modified retrospective basis. The guidance requires the premium to be amortized to the earliest call date. As a result, we recorded a cumulative effect adjustment to decrease beginning retained earnings by $12 million after-tax ($15 million pre-tax). Securities held at a discount did not require an accounting change.

Lease Accounting

Effective for the quarter ended March 31, 2019, we adopted new lease accounting guidance and elected to utilize a modified retrospective approach which allowed us to initially apply the new lease standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings for 2019, with no adjustment to prior periods presented. The cumulative effect adjustment to the opening balance of retained earnings was zero. Our leases consist principally of real estate operating leases that are amortized on a straight-line basis over the term of the lease. The adoption of the updated guidance resulted in recognizing a right-of-use asset, which was recorded within Other assets, and a lease liability, which was recorded within Accounts payable, accrued expenses, and other liabilities on the Consolidated balance sheet as well as de-recognizing the liability for deferred rent that was required under the previous guidance. The adoption of the new guidance did not have a material effect on our results of operations, financial condition or liquidity. Refer to Note 6 h) for additional information on leases.

Accounting guidance not yet adopted

Refer to the 2018 Form 10-K for information on accounting guidance not yet adopted.

Fair value measurements Fair Value Measurement Policy (Policies)

9 Months Ended

Sep. 30, 2019

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 General (Tables)

9 Months Ended

Sep. 30, 2019

Cash and Cash Equivalents [Abstract]

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:



	September 30		December 31
(in millions of U.S. dollars)	2019		2018
Cash	$	1,478	$	1,247
Restricted cash	111		93
Total cash and restricted cash shown in the Consolidated statements of cash flows	$	1,589	$	1,340

Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule Of Amortized Cost And Fair Value Of HTM Fixed Maturities And Related OTTI Recognized In AOCI



September 30, 2019	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
(in millions of U.S. dollars)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
Available for sale
U.S. Treasury and agency	$	3,438	$	133	$	(1	)	$	3,570	$	—
Foreign	21,974		1,171		(68		)	23,077		(27		)
Corporate securities	30,344		1,131		(108		)	31,367		(5		)
Mortgage-backed securities	18,457		570		(13		)	19,014		—
States, municipalities, and political subdivisions	7,823		205		(12		)	8,016		—
	$	82,036	$	3,210	$	(202	)	$	85,044	$	(32	)
Held to maturity
U.S. Treasury and agency	$	1,234	$	36	$	—		$	1,270	$	—
Foreign	1,401		85		(1		)	1,485		—
Corporate securities	2,391		127		(4		)	2,514		—
Mortgage-backed securities	2,391		83		—			2,474		—
States, municipalities, and political subdivisions	5,205		149		(1		)	5,353		—
	$	12,622	$	480	$	(6	)	$	13,096	$	—



December 31, 2018	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
(in millions of U.S. dollars)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
Available for sale
U.S. Treasury and agency	$	4,158	$	30	$	(43	)	$	4,145	$	—
Foreign	21,370		395		(349		)	21,416		—
Corporate securities	27,183		150		(750		)	26,583		(6		)
Mortgage-backed securities	15,758		66		(284		)	15,540		(1		)
States, municipalities, and political subdivisions	10,854		49		(117		)	10,786		—
	$	79,323	$	690	$	(1,543	)	$	78,470	$	(7	)
Held to maturity
U.S. Treasury and agency	$	1,185	$	8	$	(11	)	$	1,182	$	—
Foreign	1,549		11		(18		)	1,542		—
Corporate securities	2,601		11		(104		)	2,508		—
Mortgage-backed securities	2,524		5		(43		)	2,486		—
States, municipalities, and political subdivisions	5,576		16		(51		)	5,541		—
	$	13,435	$	51	$	(227	)	$	13,259	$	—

Schedule Of Amortized Cost and Fair Value of Available-for-sale Securities and Related OTTI Recognized in AOCI



September 30, 2019	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
(in millions of U.S. dollars)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
Available for sale
U.S. Treasury and agency	$	3,438	$	133	$	(1	)	$	3,570	$	—
Foreign	21,974		1,171		(68		)	23,077		(27		)
Corporate securities	30,344		1,131		(108		)	31,367		(5		)
Mortgage-backed securities	18,457		570		(13		)	19,014		—
States, municipalities, and political subdivisions	7,823		205		(12		)	8,016		—
	$	82,036	$	3,210	$	(202	)	$	85,044	$	(32	)
Held to maturity
U.S. Treasury and agency	$	1,234	$	36	$	—		$	1,270	$	—
Foreign	1,401		85		(1		)	1,485		—
Corporate securities	2,391		127		(4		)	2,514		—
Mortgage-backed securities	2,391		83		—			2,474		—
States, municipalities, and political subdivisions	5,205		149		(1		)	5,353		—
	$	12,622	$	480	$	(6	)	$	13,096	$	—



December 31, 2018	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
(in millions of U.S. dollars)	Amortized Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Fair Value		OTTI Recognized in AOCI
Available for sale
U.S. Treasury and agency	$	4,158	$	30	$	(43	)	$	4,145	$	—
Foreign	21,370		395		(349		)	21,416		—
Corporate securities	27,183		150		(750		)	26,583		(6		)
Mortgage-backed securities	15,758		66		(284		)	15,540		(1		)
States, municipalities, and political subdivisions	10,854		49		(117		)	10,786		—
	$	79,323	$	690	$	(1,543	)	$	78,470	$	(7	)
Held to maturity
U.S. Treasury and agency	$	1,185	$	8	$	(11	)	$	1,182	$	—
Foreign	1,549		11		(18		)	1,542		—
Corporate securities	2,601		11		(104		)	2,508		—
Mortgage-backed securities	2,524		5		(43		)	2,486		—
States, municipalities, and political subdivisions	5,576		16		(51		)	5,541		—
	$	13,435	$	51	$	(227	)	$	13,259	$	—

Schedule Of Fixed Maturities By Contractual Maturity

The following table presents fixed maturities by contractual maturity:



			September 30				December 31
			2019				2018
(in millions of U.S. dollars)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Available for sale
Due in 1 year or less	$	3,869	$	3,889	$	3,569	$	3,568
Due after 1 year through 5 years	27,168		27,728		27,134		27,005
Due after 5 years through 10 years	23,368		24,309		24,095		23,543
Due after 10 years	9,174		10,104		8,767		8,814
	63,579		66,030		63,565		62,930
Mortgage-backed securities	18,457		19,014		15,758		15,540
	$	82,036	$	85,044	$	79,323	$	78,470
Held to maturity
Due in 1 year or less	$	487	$	490	$	536	$	537
Due after 1 year through 5 years	3,567		3,629		3,122		3,106
Due after 5 years through 10 years	3,822		3,959		4,468		4,407
Due after 10 years	2,355		2,544		2,785		2,723
	10,231		10,622		10,911		10,773
Mortgage-backed securities	2,391		2,474		2,524		2,486
	$	12,622	$	13,096	$	13,435	$	13,259

Schedule of Realized Gain (Loss)

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



	Three Months Ended						Nine Months Ended
	September 30						September 30
(in millions of U.S. dollars)	2019			2018			2019			2018
Fixed maturities:
OTTI on fixed maturities, gross	$	(54	)	$	(14	)	$	(81	)	$	(19	)
OTTI on fixed maturities recognized in OCI (pre-tax)	30			3			31			3
OTTI on fixed maturities, net	(24		)	(11		)	(50		)	(16		)
Gross realized gains excluding OTTI	70			64			153			229
Gross realized losses excluding OTTI	(57		)	(91		)	(146		)	(355		)
Total fixed maturities	(11		)	(38		)	(43		)	(142		)
Equity securities	3			35			66			22
Other investments	(4		)	5			(18		)	23
Foreign exchange gains	84			39			86			102
Investment and embedded derivative instruments	(97		)	37			(408		)	78
Fair value adjustments on insurance derivative	(106		)	54			(57		)	133
S&P futures	(6		)	(100		)	(89		)	(122		)
Other derivative instruments	(14		)	(8		)	(8		)	2
Other	(4		)	(5		)	(4		)	(61		)
Net realized gains (losses) (pre-tax)	$	(155	)	$	19		$	(475	)	$	35

Schedule Of Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which A Portion Of OTTI Was Recognized In OCI

The following table presents a roll-forward of pre-tax credit losses related to fixed maturities for which a portion of OTTI was recognized in OCI:



	Three Months Ended						Nine Months Ended
	September 30						September 30
(in millions of U.S. dollars)	2019			2018			2019			2018
Balance of credit losses related to securities still held – beginning of period	$	30		$	16		$	34		$	22
Additions where no OTTI was previously recorded	17			6			28			7
Additions where an OTTI was previously recorded	1			2			4			2
Reductions for securities sold during the period	(8		)	(3		)	(26		)	(10		)
Balance of credit losses related to securities still held – end of period	$	40		$	21		$	40		$	21

Gain (Loss) on Securities [Table Text Block]

equity securities and other investments, including both sales of securities and unrealized gains and losses from changes in fair value:



										Three Months Ended
										September 30
	2019									2018
(in millions of U.S. dollars)	Equity Securities			Other Investments			Total			Equity Securities			Other Investments		Total
Net gains (losses) recognized during the period	$	3		$	(4	)	$	(1	)	$	35		$	5	$	40
Less: Net gains (losses) recognized from sales of securities	24			(2		)	22			48			—		48
Unrealized gains (losses) recognized for securities still held at reporting date	$	(21	)	$	(2	)	$	(23	)	$	(13	)	$	5	$	(8	)



									Nine Months Ended
									September 30
	2019								2018
(in millions of U.S. dollars)	Equity Securities		Other Investments			Total			Equity Securities			Other Investments		Total
Net gains (losses) recognized during the period	$	66	$	(18	)	$	48		$	22		$	23	$	45
Less: Net gains (losses) recognized from sales of securities	57		(4		)	53			63			—		63
Unrealized gains (losses) recognized for securities still held at reporting date	$	9	$	(14	)	$	(5	)	$	(41	)	$	23	$	(18	)

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 all securities in an unrealized loss position (including securities on loan), the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:



	0 – 12 Months					Over 12 Months					Total
September 30, 2019	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
U.S. Treasury and agency	$	144	$	—		$	531	$	(1	)	$	675	$	(1	)
Foreign	1,077		(23		)	1,014		(46		)	2,091		(69		)
Corporate securities	2,600		(62		)	1,095		(50		)	3,695		(112		)
Mortgage-backed securities	640		(2		)	1,228		(11		)	1,868		(13		)
States, municipalities, and political subdivisions	650		(1		)	371		(12		)	1,021		(13		)
Total fixed maturities	$	5,111	$	(88	)	$	4,239	$	(120	)	$	9,350	$	(208	)



	0 – 12 Months					Over 12 Months					Total
December 31, 2018	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)	Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss			Fair Value		Gross Unrealized Loss
U.S. Treasury and agency	$	523	$	(4	)	$	2,859	$	(50	)	$	3,382	$	(54	)
Foreign	6,764		(208		)	5,349		(159		)	12,113		(367		)
Corporate securities	16,538		(599		)	4,873		(255		)	21,411		(854		)
Mortgage-backed securities	6,103		(98		)	6,913		(229		)	13,016		(327		)
States, municipalities, and political subdivisions	5,024		(44		)	7,768		(124		)	12,792		(168		)
Total fixed maturities	$	34,952	$	(953	)	$	27,762	$	(817	)	$	62,714	$	(1,770	)

Schedule Of Components Of Restricted Assets

The following table presents the components of restricted assets:



	September 30		December 31
(in millions of U.S. dollars)	2019		2018
Trust funds	$	14,325	$	13,988
Deposits with U.S. regulatory authorities	2,476		2,405
Deposits with non-U.S. regulatory authorities	2,706		2,531
Assets pledged under repurchase agreements	1,474		1,468
Other pledged assets	447		692
Total	$	21,428	$	21,084

Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2019

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



September 30, 2019	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities available for sale
U.S. Treasury and agency	$	2,893	$	677	$	—	$	3,570
Foreign	—		22,684		393		23,077
Corporate securities	—		29,917		1,450		31,367
Mortgage-backed securities	—		18,937		77		19,014
States, municipalities, and political subdivisions	—		8,016		—		8,016
	2,893		80,231		1,920		85,044
Equity securities	662		4		56		722
Short-term investments	1,483		1,346		6		2,835
Other investments ⁽¹⁾	392		353		10		755
Securities lending collateral	—		962		—		962
Investment derivative instruments	22		—		—		22
Other derivative instruments	7		—		—		7
Separate account assets	3,140		147		—		3,287
Total assets measured at fair value ⁽¹⁾	$	8,599	$	83,043	$	1,992	$	93,634
Liabilities:
Investment derivative instruments	$	63	$	—	$	—	$	63
GLB ⁽²⁾	—		—		509		509
Total liabilities measured at fair value	$	63	$	—	$	509	$	572


⁽¹⁾	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,871 million and other investments of $88 million at September 30, 2019 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. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.



December 31, 2018	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Fixed maturities available for sale
U.S. Treasury and agency	$	3,400	$	745	$	—	$	4,145
Foreign	—		21,071		345		21,416
Corporate securities	—		25,284		1,299		26,583
Mortgage-backed securities	—		15,479		61		15,540
States, municipalities, and political subdivisions	—		10,786		—		10,786
	3,400		73,365		1,705		78,470
Equity securities	713		—		57		770
Short-term investments	1,575		1,440		1		3,016
Other investments ⁽¹⁾	381		303		11		695
Securities lending collateral	—		1,926		—		1,926
Investment derivative instruments	28		—		—		28
Other derivative instruments	25		—		—		25
Separate account assets	2,686		137		—		2,823
Total assets measured at fair value ⁽¹⁾	$	8,808	$	77,171	$	1,774	$	87,753
Liabilities:
Investment derivative instruments	$	38	$	115	$	—	$	153
GLB ⁽²⁾	—		—		452		452
Total liabilities measured at fair value	$	38	$	115	$	452	$	605


⁽¹⁾	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,244 million and other investments of $95 million at December 31, 2018 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. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.

Fair Value And Maximum Future Funding Commitments Related To Investments

The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments of alternative investments:



				September 30				December 31
	Expected Liquidation Period of Underlying Assets			2019				2018
(in millions of U.S. dollars)	Expected Liquidation Period of Underlying Assets	Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	568	$	360	$	596	$	193
Real Assets	2 to 11 Years	771		497		704		362
Distressed	2 to 7 Years	264		89		296		105
Private Credit	3 to 8 Years	109		271		147		310
Traditional	2 to 14 Years	2,767		2,224		2,362		2,735
Vintage	1 to 2 Years	134		37		56		—
Investment funds	Not Applicable	258		—		83		—
		$	4,871	$	3,478	$	4,244	$	3,705

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

September 30, 2019

December 31, 2018

GLB ⁽¹⁾

$

509

$

452

Actuarial model

Lapse rate

3% – 32%

Annuitization rate

0% – 42%

⁽¹⁾

Discussion of the most significant inputs used in the fair value measurement of GLB and the sensitivity of those assumptions is included within Note 3 a) Guaranteed living benefits.

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	Available-for-Sale Debt Securities								Equity securities			Short-term investments		Other investments				GLB ⁽¹⁾
September 30, 2019	Foreign			Corporate securities			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities			MBS
Balance – beginning of period	$	371		$	1,359		$	76	$	56		$	4	$	11			$	403
Transfers into Level 3	—			1			—		—			—		—				—
Transfers out of Level 3	—			—			—		—			—		—				—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(8		)	(4		)	—		(1		)	—		—				—
Net Realized Gains/Losses	—			—			—		(1		)	—		—				106
Purchases	68			176			1		5			2		—				—
Sales	(35		)	(18		)	—		(3		)	—		—				—
Settlements	(3		)	(64		)	—		—			—		(1		)		—
Balance – end of period	$	393		$	1,450		$	77	$	56		$	6	$	10			$	509
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	—		$	—		$	—	$	(1	)	$	—	$	—			$	106

⁽¹⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $815 million at June 30, 2019, which includes a fair value derivative adjustment of $509 million and $403 million, respectively.



	Assets																				Liabilities
Three Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments			Other derivative instruments		GLB ⁽²⁾
September 30, 2018	Foreign			Corporate securities ⁽¹⁾			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities ⁽¹⁾			MBS
Balance – beginning of period	$	252		$	1,181		$	82		$	59		$	12		$	264		$	2	$	125
Transfers into Level 3	5			18			—			—			—			—			—		—
Transfers out of Level 3	(2		)	(21		)	—			—			—			—			—		—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(2		)	7			—			(1		)	—			(4		)	—		—
Net Realized Gains/Losses	(2		)	(6		)	—			7			—			—			—		(54		)
Purchases	98			98			1			6			—			20			—		—
Sales	(22		)	(18		)	—			(18		)	—			—			—		—
Settlements	(4		)	(85		)	(18		)	—			(6		)	(17		)	—		—
Balance – end of period	$	323		$	1,174		$	65		$	53		$	6		$	263		$	2	$	71
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	(1	)	$	(6	)	$	—		$	1		$	—		$	—		$	—	$	(54	)


⁽¹⁾	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

⁽²⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $497 million at June 30, 2018, which includes a fair value derivative adjustment of $71 million and $125 million, respectively.



	Assets																		Liabilities
Nine Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments				GLB ⁽¹⁾
September 30, 2019	Foreign			Corporate securities			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities			MBS
Balance – beginning of period	$	345		$	1,299		$	61		$	57		$	1		$	11			$	452
Transfers into Level 3	3			16			—			—			—			—				—
Transfers out of Level 3	(15		)	—			—			—			—			—				—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(2		)	1			—			1			—			—				—
Net Realized Gains/Losses	(1		)	—			—			(4		)	—			—				57
Purchases	164			425			19			19			6			—				—
Sales	(54		)	(91		)	(1		)	(17		)	—			—				—
Settlements	(47		)	(200		)	(2		)	—			(1		)	(1		)		—
Balance – end of period	$	393		$	1,450		$	77		$	56		$	6		$	10			$	509
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	—		$	(1	)	$	—		$	(3	)	$	—		$	—			$	57

⁽¹⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $861 million at December 31, 2018, which includes a fair value derivative adjustment of $509 million and $452 million, respectively.



	Assets																				Liabilities
Nine Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments			Other derivative instruments		GLB ⁽²⁾
September 30, 2018	Foreign			Corporate securities ⁽¹⁾			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities ⁽¹⁾			MBS
Balance – beginning of period	$	93		$	1,037		$	78		$	44		$	—		$	263		$	2	$	204
Transfers into Level 3	12			24			1			—			5			—			—		—
Transfers out of Level 3	(2		)	(31		)	—			—			—			—			—		—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	—			(5		)	—			—			—			(2		)	—		—
Net Realized Gains/Losses	(2		)	(4		)	—			6			—			1			—		(133		)
Purchases	280			454			5			26			9			50			—		—
Sales	(52		)	(114		)	—			(23		)	—			—			—		—
Settlements	(6		)	(187		)	(19		)	—			(8		)	(49		)	—		—
Balance – end of period	$	323		$	1,174		$	65		$	53		$	6		$	263		$	2	$	71
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	(1	)	$	(6	)	$	—		$	—		$	—		$	1		$	—	$	(133	)


⁽¹⁾	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

⁽²⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $550 million at December 31, 2017, which includes a fair value derivative adjustment of $71 million and $204 million, respectively.

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	Available-for-Sale Debt Securities								Equity securities			Short-term investments		Other investments				GLB ⁽¹⁾
September 30, 2019	Foreign			Corporate securities			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities			MBS
Balance – beginning of period	$	371		$	1,359		$	76	$	56		$	4	$	11			$	403
Transfers into Level 3	—			1			—		—			—		—				—
Transfers out of Level 3	—			—			—		—			—		—				—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(8		)	(4		)	—		(1		)	—		—				—
Net Realized Gains/Losses	—			—			—		(1		)	—		—				106
Purchases	68			176			1		5			2		—				—
Sales	(35		)	(18		)	—		(3		)	—		—				—
Settlements	(3		)	(64		)	—		—			—		(1		)		—
Balance – end of period	$	393		$	1,450		$	77	$	56		$	6	$	10			$	509
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	—		$	—		$	—	$	(1	)	$	—	$	—			$	106

⁽¹⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $815 million at June 30, 2019, which includes a fair value derivative adjustment of $509 million and $403 million, respectively.



	Assets																				Liabilities
Three Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments			Other derivative instruments		GLB ⁽²⁾
September 30, 2018	Foreign			Corporate securities ⁽¹⁾			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities ⁽¹⁾			MBS
Balance – beginning of period	$	252		$	1,181		$	82		$	59		$	12		$	264		$	2	$	125
Transfers into Level 3	5			18			—			—			—			—			—		—
Transfers out of Level 3	(2		)	(21		)	—			—			—			—			—		—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(2		)	7			—			(1		)	—			(4		)	—		—
Net Realized Gains/Losses	(2		)	(6		)	—			7			—			—			—		(54		)
Purchases	98			98			1			6			—			20			—		—
Sales	(22		)	(18		)	—			(18		)	—			—			—		—
Settlements	(4		)	(85		)	(18		)	—			(6		)	(17		)	—		—
Balance – end of period	$	323		$	1,174		$	65		$	53		$	6		$	263		$	2	$	71
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	(1	)	$	(6	)	$	—		$	1		$	—		$	—		$	—	$	(54	)


⁽¹⁾	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

⁽²⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $497 million at June 30, 2018, which includes a fair value derivative adjustment of $71 million and $125 million, respectively.



	Assets																		Liabilities
Nine Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments				GLB ⁽¹⁾
September 30, 2019	Foreign			Corporate securities			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities			MBS
Balance – beginning of period	$	345		$	1,299		$	61		$	57		$	1		$	11			$	452
Transfers into Level 3	3			16			—			—			—			—				—
Transfers out of Level 3	(15		)	—			—			—			—			—				—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	(2		)	1			—			1			—			—				—
Net Realized Gains/Losses	(1		)	—			—			(4		)	—			—				57
Purchases	164			425			19			19			6			—				—
Sales	(54		)	(91		)	(1		)	(17		)	—			—				—
Settlements	(47		)	(200		)	(2		)	—			(1		)	(1		)		—
Balance – end of period	$	393		$	1,450		$	77		$	56		$	6		$	10			$	509
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	—		$	(1	)	$	—		$	(3	)	$	—		$	—			$	57

⁽¹⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $861 million at December 31, 2018, which includes a fair value derivative adjustment of $509 million and $452 million, respectively.



	Assets																				Liabilities
Nine Months Ended	Available-for-Sale Debt Securities									Equity securities			Short-term investments			Other investments			Other derivative instruments		GLB ⁽²⁾
September 30, 2018	Foreign			Corporate securities ⁽¹⁾			MBS
(in millions of U.S. dollars)	Foreign			Corporate securities ⁽¹⁾			MBS
Balance – beginning of period	$	93		$	1,037		$	78		$	44		$	—		$	263		$	2	$	204
Transfers into Level 3	12			24			1			—			5			—			—		—
Transfers out of Level 3	(2		)	(31		)	—			—			—			—			—		—
Change in Net Unrealized Gains (Losses) included in OCI, including foreign exchange	—			(5		)	—			—			—			(2		)	—		—
Net Realized Gains/Losses	(2		)	(4		)	—			6			—			1			—		(133		)
Purchases	280			454			5			26			9			50			—		—
Sales	(52		)	(114		)	—			(23		)	—			—			—		—
Settlements	(6		)	(187		)	(19		)	—			(8		)	(49		)	—		—
Balance – end of period	$	323		$	1,174		$	65		$	53		$	6		$	263		$	2	$	71
Net Realized Gains/Losses Attributable to Changes in Fair Value at the Balance Sheet Date	$	(1	)	$	(6	)	$	—		$	—		$	—		$	1		$	—	$	(133	)


⁽¹⁾	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

⁽²⁾

Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $550 million at December 31, 2017, which includes a fair value derivative adjustment of $71 million and $204 million, respectively.

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:



September 30, 2019	Fair Value								Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total		Carrying Value
Assets:
Fixed maturities held to maturity
U.S. Treasury and agency	$	1,213	$	57	$	—	$	1,270	$	1,234
Foreign	—		1,485		—		1,485		1,401
Corporate securities	—		2,482		32		2,514		2,391
Mortgage-backed securities	—		2,474		—		2,474		2,391
States, municipalities, and political subdivisions	—		5,353		—		5,353		5,205
Total assets	$	1,213	$	11,851	$	32	$	13,096	$	12,622
Liabilities:
Repurchase agreements	$	—	$	1,416	$	—	$	1,416	$	1,416
Short-term debt	—		10		—		10		10
Long-term debt	—		14,901		—		14,901		13,285
Trust preferred securities	—		457		—		457		308
Total liabilities	$	—	$	16,784	$	—	$	16,784	$	15,019



December 31, 2018	Fair Value								Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total		Carrying Value
Assets:
Fixed maturities held to maturity
U.S. Treasury and agency	$	1,128	$	54	$	—	$	1,182	$	1,185
Foreign	—		1,542		—		1,542		1,549
Corporate securities	—		2,477		31		2,508		2,601
Mortgage-backed securities	—		2,486		—		2,486		2,524
States, municipalities, and political subdivisions	—		5,541		—		5,541		5,576
Total assets	$	1,128	$	12,100	$	31	$	13,259	$	13,435
Liabilities:
Repurchase agreements	$	—	$	1,418	$	—	$	1,418	$	1,418
Short-term debt	—		516		—		516		509
Long-term debt	—		12,181		—		12,181		12,087
Trust preferred securities	—		409		—		409		308
Total liabilities	$	—	$	14,524	$	—	$	14,524	$	14,322

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

9 Months Ended

Sep. 30, 2019

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:



	Nine Months Ended September 30
(in millions of U.S. dollars)	2019			2018
Gross unpaid losses and loss expenses – beginning of period	$	62,960		$	63,179
Reinsurance recoverable on unpaid losses - beginning of period ⁽¹⁾	(14,689		)	(14,014		)
Net unpaid losses and loss expenses – beginning of period	48,271			49,165
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	14,484			14,186
Prior years ⁽²⁾	(619		)	(729		)
Total	13,865			13,457
Net losses and loss expenses paid in respect of losses occurring in:
Current year	4,920			4,522
Prior years	8,374			8,596
Total	13,294			13,118
Foreign currency revaluation and other	(162		)	(440		)
Net unpaid losses and loss expenses – end of period	48,680			49,064
Reinsurance recoverable on unpaid losses ⁽¹⁾	14,332			13,965
Gross unpaid losses and loss expenses – end of period	$	63,012		$	63,029


⁽¹⁾	Net of provision 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 $60 million and $86 million for the nine months ended September 30, 2019 and 2018, respectively.

Prior Period Development, by Segment [Table Text Block]

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



	Three Months Ended September 30									Nine Months Ended September 30
(in millions of U.S. dollars)	Long-tail			Short-tail			Total			Long-tail			Short-tail			Total
2019
North America Commercial P&C Insurance	$	(197	)	$	88		$	(109	)	$	(468	)	$	43		$	(425	)
North America Personal P&C Insurance	—			(62		)	(62		)	—			(88		)	(88		)
North America Agricultural Insurance	—			18			18			—			(43		)	(43		)
Overseas General Insurance	(66		)	41			(25		)	(66		)	17			(49		)
Global Reinsurance	(25		)	—			(25		)	(59		)	26			(33		)
Corporate	36			—			36			79			—			79
Total	$	(252	)	$	85		$	(167	)	$	(514	)	$	(45	)	$	(559	)
2018
North America Commercial P&C Insurance	$	(170	)	$	(46	)	$	(216	)	$	(266	)	$	(206	)	$	(472	)
North America Personal P&C Insurance	—			58			58			—			59			59
North America Agricultural Insurance	—			(1		)	(1		)	—			(77		)	(77		)
Overseas General Insurance	(49		)	(23		)	(72		)	(51		)	(115		)	(166		)
Global Reinsurance	(39		)	15			(24		)	(69		)	15			(54		)
Corporate	12			—			12			67			—			67
Total	$	(246	)	$	3		$	(243	)	$	(319	)	$	(324	)	$	(643	)

Commitments, contingencies, and guarantees (Tables)

9 Months Ended

Sep. 30, 2019

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:



				September 30, 2019							December 31, 2018
	Consolidated Balance Sheet Location	Fair Value					Notional Value/ Payment Provision		Fair Value					Notional Value/ Payment Provision
(in millions of U.S. dollars)	Consolidated Balance Sheet Location	Derivative Asset		Derivative (Liability)			Notional Value/ Payment Provision		Derivative Asset		Derivative (Liability)			Notional Value/ Payment Provision
Investment and embedded derivative instruments:
Foreign currency forward contracts	OA / (AP)	$	10	$	(59	)	$	2,888	$	15	$	(19	)	$	2,185
Cross-currency swaps	OA / (AP)	—		—			—		—		—			45
Interest rate swaps	OA / (AP)	—		—			—		—		(115		)	5,250
Options/Futures contracts on notes, bonds, and equities	OA / (AP)	12		(4		)	853		13		(19		)	1,046
Convertible securities ⁽¹⁾	FM AFS / ES	5		—			8		9		—			11
TBAs	FM AFS	—		—			—		6		—			6
		$	27	$	(63	)	$	3,749	$	43	$	(153	)	$	8,543
Other derivative instruments:
Futures contracts on equities⁽²⁾	OA / (AP)	$	6	$	—		$	582	$	23	$	—		$	507
Other	OA / (AP)	1		—			207		2		—			74
		$	7	$	—		$	789	$	25	$	—		$	581
GLB ⁽³⁾	(AP) / (FPB)	$	—	$	(935	)	$	1,729	$	—	$	(861	)	$	1,750


⁽¹⁾	Includes fair value of embedded derivatives.


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

⁽³⁾

Includes both future policy benefits reserves of $426 million and $409 million and fair value derivative adjustment of $509 million and $452 million at September 30, 2019 and December 31, 2018, respectively. 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						Nine Months Ended
	September 30						September 30
(in millions of U.S. dollars)	2019			2018			2019			2018
Investment and embedded derivative instruments:
Foreign currency forward contracts	$	(20	)	$	(2	)	$	(57	)	$	5
Interest rate swaps	(55		)	26			(270		)	26
All other futures contracts, options, and equities	(22		)	13			(83		)	47
Convertible securities ⁽¹⁾	—			—			2			—
Total investment and embedded derivative instruments	$	(97	)	$	37		$	(408	)	$	78
GLB and other derivative instruments:
GLB ⁽²⁾	$	(106	)	$	54		$	(57	)	$	133
Futures contracts on equities ⁽³⁾	(6		)	(100		)	(89		)	(122		)
Other	(14		)	(8		)	(8		)	2
Total GLB and other derivative instruments	$	(126	)	$	(54	)	$	(154	)	$	13
	$	(223	)	$	(17	)	$	(562	)	$	91


⁽¹⁾	Includes embedded derivatives.


⁽²⁾	Excludes foreign exchange gains (losses) related to GLB.


⁽³⁾	Related to GMDB and GLB books 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
	September 30		December 31
	2019		2018
(in millions of U.S. dollars)	Overnight and Continuous
Collateral held under securities lending agreements:
Cash	$	562	$	756
U.S. Treasury and agency	70		64
Foreign	249		795
Corporate securities	17		15
Mortgage-backed securities	18		45
Equity securities	46		251
	$	962	$	1,926
Gross amount of recognized liability for securities lending payable	$	962	$	1,926

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
	September 30, 2019						December 31, 2018
	30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
(in millions of U.S. dollars)	30-90 Days		Greater than 90 Days		Total		30-90 Days		Greater than 90 Days		Total
Collateral pledged under repurchase agreements:
U.S. Treasury and agency	$	—	$	107	$	107	$	—	$	259	$	259
Mortgage-backed securities	488		879		1,367		496		713		1,209
	$	488	$	986	$	1,474	$	496	$	972	$	1,468
Gross amount of recognized liabilities for repurchase agreements					$	1,416					$	1,418
Difference ⁽¹⁾					$	58					$	50

⁽¹⁾

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

Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Stockholders' Equity Note [Abstract]

Dividends Declared [Table Text Block]

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



	Three Months Ended						Nine Months Ended
	September 30						September 30
	2019			2018			2019			2018
	CHF	USD		CHF	USD		CHF	USD		CHF	USD
Total dividend distributions per common share	0.73	$	0.75	0.72	$	0.73	2.20	$	2.23	2.11	$	2.17

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 September 30				Nine Months Ended September 30				October 1, 2019 through October 30, 2019
(in millions of U.S. dollars, except share data)	2019		2018		2019		2018		October 1, 2019 through October 30, 2019
Number of shares repurchased	3,079,618		2,781,307		8,417,838		5,225,162		700,900
Cost of shares repurchased	$	478	$	379	$	1,221	$	703	$	108
Repurchase authorization remaining at end of period	$	258	$	297	$	258	$	297	$	150

Postretirement benefits (Tables)

9 Months Ended

Sep. 30, 2019

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
	2019						2018						2019			2018
Three Months Ended September 30	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Service cost	$	12		$	3		$	14		$	3		$	—		$	1
Non-service cost:
Interest cost	30			6			26			6			1			1
Expected return on plan assets	(47		)	(11		)	(53		)	(12		)	(1		)	(2		)
Amortization of net actuarial loss	—			1			—			1			—			—
Amortization of prior service cost	—			—			—			—			(20		)	(21		)
Curtailments	—			—			—			—			—			(1		)
Settlements	1			—			—			—			—			—
Total non-service (benefit) cost	(16		)	(4		)	(27		)	(5		)	(20		)	(23		)
Net periodic (benefit) cost	$	(4	)	$	(1	)	$	(13	)	$	(2	)	$	(20	)	$	(22	)



	Pension Benefit Plans												Other Postretirement Benefit Plans
	2019						2018						2019			2018
Nine Months Ended September 30	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
(in millions of U.S. dollars)	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Service cost	$	37		$	8		$	43		$	9		$	—		$	1
Non-service cost:
Interest cost	89			20			79			20			3			3
Expected return on plan assets	(142		)	(33		)	(159		)	(38		)	(3		)	(4		)
Amortization of net actuarial loss	—			2			—			1			—			—
Amortization of prior service cost	—			—			—			—			(60		)	(64		)
Curtailments	—			—			—			—			—			(2		)
Settlements	1			—			1			—			—			—
Total non-service (benefit) cost	(52		)	(11		)	(79		)	(17		)	(60		)	(67		)
Net periodic (benefit) cost	$	(15	)	$	(3	)	$	(36	)	$	(8	)	$	(60	)	$	(66	)

The service and non-service cost components of net periodic (benefit) cost reflected in the Consolidated statements of operations were as follows:



	Pension Benefit Plans						Other Postretirement Benefit Plans
Three Months Ended September 30	2019			2018			2019			2018
(in millions of U.S. dollars)	2019			2018			2019			2018
Service Cost:
Losses and loss expenses	$	2		$	2		$	—		$	—
Administrative expenses	13			15			—			1
Total service cost	15			17			—			1
Non-service Cost:
Losses and loss expenses	(1		)	(3		)	(2		)	(3		)
Administrative expenses	(19		)	(29		)	(18		)	(20		)
Total non-service (benefit) cost	(20		)	(32		)	(20		)	(23		)
Net periodic (benefit) cost	$	(5	)	$	(15	)	$	(20	)	$	(22	)



	Pension Benefit Plans						Other Postretirement Benefit Plans
Nine Months Ended September 30	2019			2018			2019			2018
(in millions of U.S. dollars)	2019			2018			2019			2018
Service Cost:
Losses and loss expenses	$	5		$	5		$	—		$	—
Administrative expenses	40			47			—			1
Total service cost	45			52			—			1
Non-service Cost:
Losses and loss expenses	(5		)	(8		)	(6		)	(7		)
Administrative expenses	(58		)	(88		)	(54		)	(60		)
Total non-service (benefit) cost	(63		)	(96		)	(60		)	(67		)
Net periodic (benefit) cost	$	(18	)	$	(44	)	$	(60	)	$	(66	)

Segment information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Operations By Segment

The following tables present the Statement of Operations by segment:



For the Three Months Ended September 30, 2019 (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			Chubb Consolidated



Net premiums written	$	3,452		$	1,251	$	938	$	2,228	$	141		$	612		$	—		$	8,622
Net premiums earned	3,185			1,187		941		2,256		160			598			—			8,327
Losses and loss expenses	2,051			674		866		1,154		79			190			38			5,052
Policy benefits	—			—		—		—		—			158			—			158
Policy acquisition costs	459			240		56		630		42			176			—			1,603
Administrative expenses	256			72		4		257		9			80			74			752
Underwriting income (loss)	419			201		15		215		30			(6		)	(112		)	762
Net investment income (loss)	532			66		8		148		55			92			(28		)	873
Other (income) expense	(1		)	1		—		3		(16		)	(10		)	(34		)	(57		)
Amortization expense of purchased intangibles	—			3		7		11		—			1			54			76
Segment income (loss)	$	952		$	263	$	16	$	349	$	101		$	95		$	(160	)	$	1,616
Net realized gains (losses) including OTTI																(155		)	(155		)
Interest expense																138			138
Chubb integration expenses																2			2
Income tax expense																230			230
Net income (loss)																$	(685	)	$	1,091



For the Three Months Ended September 30, 2018 (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			Chubb Consolidated



Net premiums written	$	3,199		$	1,218	$	884	$	2,081		$	164		$	564	$	—		$	8,110
Net premiums earned	3,019			1,167		857		2,157			157			551		—			7,908
Losses and loss expenses	1,881			860		719		1,114			86			195		13			4,868
Policy benefits	—			—		—		—			—			127		—			127
Policy acquisition costs	458			236		49		582			40			139		—			1,504
Administrative expenses	251			69		2		252			10			77		58			719
Underwriting income (loss)	429			2		87		209			21			13		(71		)	690
Net investment income (loss)	503			59		7		155			63			85		(49		)	823
Other (income) expense	(1		)	—		—		(7		)	(13		)	20		(144		)	(145		)
Amortization expense of purchased intangibles	—			4		7		8			—			—		64			83
Segment income (loss)	$	933		$	57	$	87	$	363		$	97		$	78	$	(40	)	$	1,575
Net realized gains (losses) including OTTI																19			19
Interest expense																164			164
Chubb integration expenses																16			16
Income tax expense																183			183
Net income (loss)																$	(384	)	$	1,231



For the Nine Months Ended September 30, 2019 (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			Chubb Consolidated



Net premiums written	$	9,937		$	3,616	$	1,534	$	6,881	$	540		$	1,770		$	—		$	24,278
Net premiums earned	9,660			3,509		1,374		6,595		487			1,730			—			23,355
Losses and loss expenses	6,238			2,178		1,155		3,385		245			581			83			13,865
Policy benefits	—			—		—		—		—			515			—			515
Policy acquisition costs	1,377			708		90		1,855		127			454			—			4,611
Administrative expenses	755			211		9		771		26			237			211			2,220
Underwriting income (loss)	1,290			412		120		584		89			(57		)	(294		)	2,144
Net investment income (loss)	1,563			194		22		443		166			278			(98		)	2,568
Other (income) expense	(4		)	2		1		10		(40		)	(57		)	(238		)	(326		)
Amortization expense of purchased intangibles	—			9		21		34		—			2			163			229
Segment income (loss)	$	2,857		$	595	$	120	$	983	$	295		$	276		$	(317	)	$	4,809
Net realized gains (losses) including OTTI																(475		)	(475		)
Interest expense																418			418
Chubb integration expenses																9			9
Income tax expense																626			626
Net income (loss)																$	(1,845	)	$	3,281



For the Nine Months Ended September 30, 2018 (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			Chubb Consolidated



Net premiums written	$	9,342		$	3,601	$	1,380	$	6,664		$	554		$	1,688		$	—		$	23,229
Net premiums earned	9,325			3,463		1,251		6,425			492			1,643			—			22,599
Losses and loss expenses	5,873			2,474		955		3,263			236			584			72			13,457
Policy benefits	—			—		—		—			—			428			—			428
Policy acquisition costs	1,378			701		74		1,754			120			405			—			4,432
Administrative expenses	735			202		—		757			29			235			200			2,158
Underwriting income (loss)	1,339			86		222		651			107			(9		)	(272		)	2,124
Net investment income (loss)	1,516			177		20		461			192			253			(162		)	2,457
Other (income) expense	(20		)	1		1		(12		)	(26		)	24			(275		)	(307		)
Amortization expense of purchased intangibles	—			10		21		29			—			1			192			253
Segment income (loss)	$	2,875		$	252	$	220	$	1,095		$	325		$	219		$	(351	)	$	4,635
Net realized gains (losses) including OTTI																	35			35
Interest expense																	488			488
Chubb integration expenses																	39			39
Income tax expense																	536			536
Net income (loss)																	$	(1,379	)	$	3,607

Earnings per share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule Of Earnings Per Share, Basic And Diluted



	Three Months Ended				Nine Months Ended
	September 30				September 30
(in millions of U.S. dollars, except share and per share data)	2019		2018		2019		2018
Numerator:
Net income	$	1,091	$	1,231	$	3,281	$	3,607
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	454,975,143		462,981,973		456,987,560		464,644,013
Denominator for diluted earnings per share:
Share-based compensation plans	3,175,226		3,034,525		2,937,026		3,360,511
Weighted-average shares outstanding and assumed conversions	458,150,369		466,016,498		459,924,586		468,004,524
Basic earnings per share	$	2.40	$	2.66	$	7.18	$	7.76
Diluted earnings per share	$	2.38	$	2.64	$	7.13	$	7.71
Potential anti-dilutive share conversions	575,039		3,763,844		3,874,310		3,467,000

Information provided in connection with outstanding debt of subsidiaries (Tables)

9 Months Ended

Sep. 30, 2019

Table Text Block Supplement [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet at September 30, 2019



(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)		Chubb INA Holdings Inc. (Subsidiary Issuer)		Other Chubb Limited Subsidiaries		Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Assets
Investments	$	—	$	227	$	106,951	$	—		$	107,178
Cash ⁽¹⁾	2		—		2,706		(1,230		)	1,478
Restricted cash	—		—		111		—			111
Insurance and reinsurance balances receivable	—		—		12,519		(2,116		)	10,403
Reinsurance recoverable on losses and loss expenses	—		—		25,284		(9,757		)	15,527
Reinsurance recoverable on policy benefits	—		—		293		(94		)	199
Value of business acquired	—		—		274		—			274
Goodwill and other intangible assets	—		—		21,378		—			21,378
Investments in subsidiaries	49,471		53,381		—		(102,852		)	—
Due from subsidiaries and affiliates, net	6,068		—		—		(6,068		)	—
Other assets	7		486		20,011		(1,904		)	18,600
Total assets	$	55,548	$	54,094	$	189,527	$	(124,021	)	$	175,148
Liabilities
Unpaid losses and loss expenses	$	—	$	—	$	72,389	$	(9,377	)	$	63,012
Unearned premiums	—		—		17,767		(1,196		)	16,571
Future policy benefits	—		—		5,832		(94		)	5,738
Due to subsidiaries and affiliates, net	—		5,953		115		(6,068		)	—
Affiliated notional cash pooling programs ⁽¹⁾	628		602		—		(1,230		)	—
Repurchase agreements	—		—		1,416		—			1,416
Short-term debt	—		—		10		—			10
Long-term debt	—		13,285		—		—			13,285
Trust preferred securities	—		308		—		—			308
Other liabilities	348		1,814		21,278		(3,204		)	20,236
Total liabilities	976		21,962		118,807		(21,169		)	120,576
Total shareholders’ equity	54,572		32,132		70,720		(102,852		)	54,572
Total liabilities and shareholders’ equity	$	55,548	$	54,094	$	189,527	$	(124,021	)	$	175,148

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Balance Sheet at December 31, 2018



(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)		Chubb INA Holdings Inc. (Subsidiary Issuer)		Other Chubb Limited Subsidiaries		Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Assets
Investments	$	—	$	214	$	100,754	$	—		$	100,968
Cash ⁽¹⁾	1		2		1,896		(652		)	1,247
Restricted cash	—		—		93		—			93
Insurance and reinsurance balances receivable	—		—		11,861		(1,786		)	10,075
Reinsurance recoverable on losses and loss expenses	—		—		26,422		(10,429		)	15,993
Reinsurance recoverable on policy benefits	—		—		306		(104		)	202
Value of business acquired	—		—		295		—			295
Goodwill and other intangible assets	—		—		21,414		—			21,414
Investments in subsidiaries	43,531		50,209		—		(93,740		)	—
Due from subsidiaries and affiliates, net	7,074		—		598		(7,672		)	—
Other assets	3		1,007		18,102		(1,628		)	17,484
Total assets	$	50,609	$	51,432	$	181,741	$	(116,011	)	$	167,771
Liabilities
Unpaid losses and loss expenses	$	—	$	—	$	72,857	$	(9,897	)	$	62,960
Unearned premiums	—		—		16,611		(1,079		)	15,532
Future policy benefits	—		—		5,610		(104		)	5,506
Due to subsidiaries and affiliates, net	—		7,672		—		(7,672		)	—
Affiliated notional cash pooling programs ⁽¹⁾	35		617		—		(652		)	—
Repurchase agreements	—		—		1,418		—			1,418
Short-term debt	—		500		9		—			509
Long-term debt	—		12,086		1		—			12,087
Trust preferred securities	—		308		—		—			308
Other liabilities	262		2,545		19,199		(2,867		)	19,139
Total liabilities	297		23,728		115,705		(22,271		)	117,459
Total shareholders’ equity	50,312		27,704		66,036		(93,740		)	50,312
Total liabilities and shareholders’ equity	$	50,609	$	51,432	$	181,741	$	(116,011	)	$	167,771

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Statement Of Operations and Comprehensive Income

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Three Months Ended September 30, 2019	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	8,622		$	—		$	8,622
Net premiums earned	—			—			8,327			—			8,327
Net investment income	1			(3		)	875			—			873
Equity in earnings of subsidiaries	1,053			824			—			(1,877		)	—
Net realized gains (losses) including OTTI	(4		)	68			(219		)	—			(155		)
Losses and loss expenses	—			—			5,052			—			5,052
Policy benefits	—			—			158			—			158
Policy acquisition costs and administrative expenses	22			(5		)	2,338			—			2,355
Interest (income) expense	(59		)	171			26			—			138
Other (income) expense	(7		)	(3		)	(47		)	—			(57		)
Amortization of purchased intangibles	—			—			76			—			76
Chubb integration expenses	—			—			2			—			2
Income tax expense (benefit)	3			(33		)	260			—			230
Net income	$	1,091		$	759		$	1,118		$	(1,877	)	$	1,091
Comprehensive income	$	1,473		$	1,138		$	1,517		$	(2,655	)	$	1,473

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Three Months Ended September 30, 2018	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	8,110		$	—		$	8,110
Net premiums earned	—			—			7,908			—			7,908
Net investment income	2			3			818			—			823
Equity in earnings of subsidiaries	1,177			709			—			(1,886		)	—
Net realized gains (losses) including OTTI	(1		)	18			2			—			19
Losses and loss expenses	—			—			4,868			—			4,868
Policy benefits	—			—			127			—			127
Policy acquisition costs and administrative expenses	23			(90		)	2,290			—			2,223
Interest (income) expense	(75		)	203			36			—			164
Other (income) expense	(9		)	12			(148		)	—			(145		)
Amortization of purchased intangibles	—			—			83			—			83
Chubb integration expenses	3			1			12			—			16
Income tax expense (benefit)	5			(24		)	202			—			183
Net income	$	1,231		$	628		$	1,258		$	(1,886	)	$	1,231
Comprehensive income	$	592		$	47		$	640		$	(687	)	$	592

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Nine Months Ended September 30, 2019	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	24,278		$	—		$	24,278
Net premiums earned	—			—			23,355			—			23,355
Net investment income	3			(13		)	2,578			—			2,568
Equity in earnings of subsidiaries	3,147			2,345			—			(5,492		)	—
Net realized gains (losses) including OTTI	1			34			(510		)	—			(475		)
Losses and loss expenses	—			—			13,865			—			13,865
Policy benefits	—			—			515			—			515
Policy acquisition costs and administrative expenses	64			(25		)	6,792			—			6,831
Interest (income) expense	(187		)	536			69			—			418
Other (income) expense	(19		)	1			(308		)	—			(326		)
Amortization of purchased intangibles	—			—			229			—			229
Chubb integration expenses	—			2			7			—			9
Income tax expense (benefit)	12			(120		)	734			—			626
Net income	$	3,281		$	1,972		$	3,520		$	(5,492	)	$	3,281
Comprehensive income	$	6,250		$	4,476		$	6,486		$	(10,962	)	$	6,250

Condensed Consolidating Statements of Operations and Comprehensive Income



For the Nine Months Ended September 30, 2018	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
Net premiums written	$	—		$	—		$	23,229		$	—		$	23,229
Net premiums earned	—			—			22,599			—			22,599
Net investment income	5			12			2,440			—			2,457
Equity in earnings of subsidiaries	3,440			2,048			—			(5,488		)	—
Net realized gains (losses) including OTTI	(1		)	67			(31		)	—			35
Losses and loss expenses	—			—			13,457			—			13,457
Policy benefits	—			—			428			—			428
Policy acquisition costs and administrative expenses	64			(49		)	6,575			—			6,590
Interest (income) expense	(231		)	616			103			—			488
Other (income) expense	(18		)	28			(317		)	—			(307		)
Amortization of purchased intangibles	—			—			253			—			253
Chubb integration expenses	7			2			30			—			39
Income tax expense (benefit)	15			(119		)	640			—			536
Net income	$	3,607		$	1,649		$	3,839		$	(5,488	)	$	3,607
Comprehensive income (loss)	$	1,322		$	(199	)	$	1,606		$	(1,407	)	$	1,322

Condensed Consolidating Statement of Cash Flows



Nine Months Ended September 30, 2019	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)
Net cash flows from operating activities	$	421		$	1,118		$	5,234		$	(1,860	)	$	4,913
Cash flows from investing activities
Purchases of fixed maturities available for sale	—			(16		)	(19,762		)	—			(19,778		)
Purchases of fixed maturities held to maturity	—			—			(143		)	—			(143		)
Purchases of equity securities	—			—			(466		)	—			(466		)
Sales of fixed maturities available for sale	—			1			10,435			—			10,436
Sales of equity securities	—			—			577			—			577
Maturities and redemptions of fixed maturities available for sale	—			18			6,372			—			6,390
Maturities and redemptions of fixed maturities held to maturity	—			—			814			—			814
Net change in short-term investments	—			(5		)	207			—			202
Net derivative instruments settlements	—			(55		)	(592		)	—			(647		)
Private equity contributions	—			—			(1,093		)	—			(1,093		)
Private equity distributions	—			—			973			—			973
Capital contribution	(1,000		)	(110		)	—			1,110			—
Other	—			(10		)	(816		)	—			(826		)
Net cash flows used for investing activities	(1,000		)	(177		)	(3,494		)	1,110			(3,561		)
Cash flows from financing activities
Dividends paid on Common Shares	(1,014		)	—			—			—			(1,014		)
Common Shares repurchased	—			—			(1,203		)	—			(1,203		)
Proceeds from issuance of long-term debt	—			1,286			—			—			1,286
Repayment of long-term debt	—			(500		)	(1		)	—			(501		)
Proceeds from issuance of repurchase agreements	—			—			2,394			—			2,394
Repayment of repurchase agreements	—			—			(2,396		)	—			(2,396		)
Proceeds from share-based compensation plans	—			—			155			—			155
Dividend to parent company	—			—			(1,860		)	1,860			—
Advances (to) from affiliates	996			(1,715		)	719			—			—
Capital contribution	—			—			1,110			(1,110		)	—
Net proceeds from (payments to) affiliated notional cash pooling programs ⁽¹⁾	593			(15		)	—			(578		)	—
Policyholder contract deposits	—			—			376			—			376
Policyholder contract withdrawals	—			—			(221		)	—			(221		)
Net cash flows from (used for) financing activities	575			(944		)	(927		)	172			(1,124		)
Effect of foreign currency rate changes on cash and restricted cash	5			1			15			—			21
Net increase (decrease) in cash and restricted cash	1			(2		)	828			(578		)	249
Cash and restricted cash – beginning of period ⁽¹⁾	1			2			1,989			(652		)	1,340
Cash and restricted cash – end of period ⁽¹⁾	$	2		$	—		$	2,817		$	(1,230	)	$	1,589

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019 and December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Statement of Cash Flows



Nine Months Ended September 30, 2018	Chubb Limited (Parent Guarantor)			Chubb INA Holdings Inc. (Subsidiary Issuer)			Other Chubb Limited Subsidiaries			Consolidating Adjustments and Eliminations			Chubb Limited Consolidated
(in millions of U.S. dollars)
Net cash flows from operating activities	$	237		$	4,701		$	3,797		$	(4,838	)	$	3,897
Cash flows from investing activities
Purchases of fixed maturities available for sale	—			(30		)	(16,758		)	—			(16,788		)
Purchases of fixed maturities held to maturity	—			—			(380		)	—			(380		)
Purchases of equity securities	—			—			(148		)	—			(148		)
Sales of fixed maturities available for sale	—			6			9,035			—			9,041
Sales of equity securities	—			—			247			—			247
Maturities and redemptions of fixed maturities available for sale	—			15			5,467			—			5,482
Maturities and redemptions of fixed maturities held to maturity	—			—			1,001			—			1,001
Net change in short-term investments	—			6			58			—			64
Net derivative instruments settlements	—			(7		)	(39		)	—			(46		)
Private equity contributions	—			—			(1,112		)	—			(1,112		)
Private equity distributions	—			—			743			—			743
Capital contribution	(1,125		)	(3,500		)	—			4,625			—
Other	—			(18		)	(213		)	—			(231		)
Net cash flows used for investing activities	(1,125		)	(3,528		)	(2,099		)	4,625			(2,127		)
Cash flows from financing activities
Dividends paid on Common Shares	(1,001		)	—			—			—			(1,001		)
Common Shares repurchased	—			—			(732		)	—			(732		)
Proceeds from issuance of long-term debt	—			2,171			—			—			2,171
Repayment of long-term debt	—			(2,000		)	(1		)	—			(2,001		)
Proceeds from issuance of repurchase agreements	—			—			1,572			—			1,572
Repayment of repurchase agreements	—			—			(1,566		)	—			(1,566		)
Proceeds from share-based compensation plans	—			—			86			—			86
Dividend to parent company	—			—			(4,838		)	4,838			—
Advances (to) from affiliates	1,722			(1,310		)	(412		)	—			—
Capital contribution	—			—			4,625			(4,625		)	—
Net proceeds from affiliated notional cash pooling programs ⁽¹⁾	165			(34		)	—			(131		)	—
Policyholder contract deposits	—			—			269			—			269
Policyholder contract withdrawals	—			—			(222		)	—			(222		)
Net cash flows from (used for) financing activities	886			(1,173		)	(1,219		)	82			(1,424		)
Effect of foreign currency rate changes on cash and restricted cash	(1		)	—			(39		)	—			(40		)
Net increase (decrease) in cash and restricted cash	(3		)	—			440			(131		)	306
Cash and restricted cash – beginning of period ⁽¹⁾	3			1			962			(115		)	851
Cash and restricted cash – end of period ⁽¹⁾	$	—		$	1		$	1,402		$	(246	)	$	1,157

⁽¹⁾

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2018 and December 31, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

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

Sep. 30, 2019

Dec. 31, 2018

Sep. 30, 2018

^[4]

Dec. 31, 2017

^[4]

Cash and Cash Equivalents [Line Items]

$ 1,478

^[1]

$ 1,247

^[2]

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

111

93

$ 1,589

^[3]

$ 1,340

^[3]

$ 1,157

$ 851

[1]	Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[2]	Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[3]	Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019 and December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[4]	Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2018 and December 31, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

General Goodwill (Details) $ in Millions	9 Months Ended
General Goodwill (Details) $ in Millions	Sep. 30, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Period Increase (Decrease)	$ (41)

General Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Millions	Jan. 01, 2019	Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset		$ 577
Operating Lease, Liability		$ 617
Accounting Standards Update 2017-08 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, Net of Tax	$ 12
Cumulative Effect on Retained Earnings, before Tax	15
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect on Retained Earnings, before Tax	$ 0

Investments (Narrative) (Detail) $ in Millions	3 Months Ended		9 Months Ended
Investments (Narrative) (Detail) $ in Millions	Sep. 30, 2019 USD ($) Security	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) Security	Sep. 30, 2018 USD ($)	May 31, 2019	Dec. 31, 2018 USD ($)
Investment [Line Items]
Equity Method Investment, Ownership Percentage	100.00%		100.00%
Net unrealized appreciation (depreciation) included in OCI	$ (21)	$ (2)	$ (5)	$ (6)
Unrealized appreciation(depreciation) portion of AOCI with OTTI included in AOCI	$ (26)		$ (26)			$ 1
Percentage of mortgage-backed securities represented by investments in US government agency bonds	83.00%		83.00%			81.00%
Company Assumed Recovery Rate			32.00%
Moodys Historical Mean Recovery Rate			42.00%
Total number of fixed maturities \| Security	31,075		31,075
Number of fixed maturities in an unrealized loss position \| Security	4,231		4,231
Largest single unrealized loss in the fixed maturities	$ 7		$ 7
Restricted assets in fixed maturities and short-term investments	21,300		21,300			$ 21,000
Restricted assets in cash	111		111			$ 93
Operating Lease, Impairment Loss				22
Corporate and foreign securities [Member]
Investment [Line Items]
Credit losses recognized in net income	18	8	32	9
Mortgage-backed securities
Investment [Line Items]
Credit losses recognized in net income	$ 0	0	$ 0	0
Junior Subordinated Debt [Member] \| Chubb INA Senior Notes Due 2037 [Member]
Investment [Line Items]
Gain (Loss) on Extinguishment of Debt				(36)
Huatai Insurance Group [Member]
Investment [Line Items]
Equity Method Investment, Ownership Percentage	26.20%		26.20%		6.20%
Payments to Acquire Other Investments			$ 329
Junior Subordinated Debt [Member] \| Chubb INA Capital Securities Due 2067 [Member]
Investment [Line Items]
Debt Instrument, Face Amount		$ 1,000		$ 1,000
Debt Instrument, Interest Rate, Stated Percentage		6.375%		6.375%

Investments Investments (Schedule Of Amortized Cost and Fair Value of Available-for-sale Securities and Related OTTI Recognized in AOCI) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Available for sale, at amortized cost	$ 82,036	$ 79,323
Available-for-sale,Gross Unrealized Gain	3,210	690
Available-for-sale, Gross Unrealized Depreciation	(202)	(1,543)
Available for sale, Fair Value	85,044	78,470
Available for sale, OTTI recognized in AOCI	(32)	(7)
U.S. Treasury and agency
Debt Securities, Available-for-sale [Line Items]
Available for sale, at amortized cost	3,438	4,158
Available-for-sale,Gross Unrealized Gain	133	30
Available-for-sale, Gross Unrealized Depreciation	(1)	(43)
Available for sale, Fair Value	3,570	4,145
Available for sale, OTTI recognized in AOCI	0	0
Foreign
Debt Securities, Available-for-sale [Line Items]
Available for sale, at amortized cost	21,974	21,370
Available-for-sale,Gross Unrealized Gain	1,171	395
Available-for-sale, Gross Unrealized Depreciation	(68)	(349)
Available for sale, Fair Value	23,077	21,416
Available for sale, OTTI recognized in AOCI	(27)	0
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Available for sale, at amortized cost	30,344	27,183
Available-for-sale,Gross Unrealized Gain	1,131	150
Available-for-sale, Gross Unrealized Depreciation	(108)	(750)
Available for sale, Fair Value	31,367	26,583
Available for sale, OTTI recognized in AOCI	(5)	(6)
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Available for sale, at amortized cost	18,457	15,758
Available-for-sale,Gross Unrealized Gain	570	66
Available-for-sale, Gross Unrealized Depreciation	(13)	(284)
Available for sale, Fair Value	19,014	15,540
Available for sale, OTTI recognized in AOCI	0	(1)
States, municipalities, and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Available for sale, at amortized cost	7,823	10,854
Available-for-sale,Gross Unrealized Gain	205	49
Available-for-sale, Gross Unrealized Depreciation	(12)	(117)
Available for sale, Fair Value	8,016	10,786
Available for sale, OTTI recognized in AOCI	$ 0	$ 0

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	Sep. 30, 2019	Dec. 31, 2018
Investment [Line Items]
Held to maturity, Amortized Cost	$ 12,622	$ 13,435
Held to maturity, Gross Unrealized Appreciation	480	51
Held to maturity, Gross Unrealized Depreciation	(6)	(227)
Held to maturity, at Fair Value	13,096	13,259
Held to maturity, OTTI recognized in AOCI	0	0
U.S. Treasury and agency
Investment [Line Items]
Held to maturity, Amortized Cost	1,234	1,185
Held to maturity, Gross Unrealized Appreciation	36	8
Held to maturity, Gross Unrealized Depreciation	0	(11)
Held to maturity, at Fair Value	1,270	1,182
Held to maturity, OTTI recognized in AOCI	0	0
Foreign
Investment [Line Items]
Held to maturity, Amortized Cost	1,401	1,549
Held to maturity, Gross Unrealized Appreciation	85	11
Held to maturity, Gross Unrealized Depreciation	(1)	(18)
Held to maturity, at Fair Value	1,485	1,542
Held to maturity, OTTI recognized in AOCI	0	0
Corporate securities
Investment [Line Items]
Held to maturity, Amortized Cost	2,391	2,601
Held to maturity, Gross Unrealized Appreciation	127	11
Held to maturity, Gross Unrealized Depreciation	(4)	(104)
Held to maturity, at Fair Value	2,514	2,508
Held to maturity, OTTI recognized in AOCI	0	0
Mortgage-backed securities
Investment [Line Items]
Held to maturity, Amortized Cost	2,391	2,524
Held to maturity, Gross Unrealized Appreciation	83	5
Held to maturity, Gross Unrealized Depreciation	0	(43)
Held to maturity, at Fair Value	2,474	2,486
Held to maturity, OTTI recognized in AOCI	0	0
States, municipalities, and political subdivisions
Investment [Line Items]
Held to maturity, Amortized Cost	5,205	5,576
Held to maturity, Gross Unrealized Appreciation	149	16
Held to maturity, Gross Unrealized Depreciation	(1)	(51)
Held to maturity, at Fair Value	5,353	5,541
Held to maturity, OTTI recognized in AOCI	$ 0	$ 0

Investments (Schedule Of Fixed Maturities By Contractual Maturity) (Detail) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Available for sale, Due in 1 year or less, Amortized Cost	$ 3,869	$ 3,569
Available for sale, Due after 1 year through 5 years, Amortized Cost	27,168	27,134
Available for sale, Due after 5 years though 10 years, Amortized Cost	23,368	24,095
Available for sale, Due after 10 years, Amortized Cost	9,174	8,767
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost	63,579	63,565
Available for sale, Mortgage-backed securities, Amortized Cost	18,457	15,758
Available for sale, at amortized cost	82,036	79,323
Available for sale, Due in 1 year or less, Fair Value	3,889	3,568
Available for sale, Due after 1 year through 5 years, Fair Value	27,728	27,005
Available for sale, Due after 5 years through 10 years, Fair Value	24,309	23,543
Available for sale, Due after 10 years, Fair Value	10,104	8,814
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value	66,030	62,930
Available for sale, Mortgage backed securities, Fair Value	19,014	15,540
Available for sale, Fair Value	85,044	78,470
Held to maturity, Due in 1 year or less, Amortized Cost	487	536
Held to maturity, Due after 1 year through 5 years, Amortized Cost	3,567	3,122
Held to maturity, Due after 5 years through 10 years, Amortized Cost	3,822	4,468
Held to maturity, Due after 10 years, Amortized Cost	2,355	2,785
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost	10,231	10,911
Held to maturity, Mortgage backed securities, Amortized Cost	2,391	2,524
Held to maturity, Amortized Cost	12,622	13,435
Held to maturity, Due in 1 year or less, Fair Value	490	537
Held to maturity, Due after 1 year through 5, Fair Value	3,629	3,106
Held to maturity, Due after 5 years through 10 years, Fair Value	3,959	4,407
Held to maturity, Due after 10 years, Fair Value	2,544	2,723
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value	10,622	10,773
Held to maturity, Mortgage backed securities, Fair Value	2,474	2,486
Held to maturity, Fair Value	$ 13,096	$ 13,259

Investments (Net Realized Gains (Losses) And Losses Included In Net Realized Gains (Losses) And Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Gain (Loss) on Securities [Line Items]
OTTI on fixed maturities, gross	$ (54)	$ (14)	$ (81)	$ (19)
Foreign exchange gains	84	39	86	102
Gain (Loss) on Derivative	(223)	(17)	(562)	91
Fair Value Adjustments On Insurance Derivative Gains Losses	(106)	54	(57)	133
Net Realized Gains (Losses)	(155)	19	(475)	35
Other than Temporary Impairment Loss, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Available-for-sale Securities	30	3	31	3
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings	(24)	(11)	(50)	(16)
Investment and embedded derivative instruments
Gain (Loss) on Securities [Line Items]
Gain (Loss) on Derivative	(97)	37	(408)	78
S&P put options and futures
Gain (Loss) on Securities [Line Items]
Gain (Loss) on Derivative	(6)	(100)	(89)	(122)
Other derivative instruments
Gain (Loss) on Securities [Line Items]
Gain (Loss) on Derivative	(14)	(8)	(8)	2
Fixed Maturities [Member]
Gain (Loss) on Securities [Line Items]
OTTI on fixed maturities, gross	(54)	(14)	(81)	(19)
Debt Securities, Available-for-sale, Realized Gain, Excluding Other-than-temporary Impairment	70	64	153	229
Debt Securities, Available-for-sale, Realized Loss, Excluding Other-than-temporary Impairment	(57)	(91)	(146)	(355)
Debt Securities, Available-for-sale, Realized Gain (Loss)	(11)	(38)	(43)	(142)
Debt Securities [Member]
Gain (Loss) on Securities [Line Items]
Other than Temporary Impairment Loss, Investments, Portion in Other Comprehensive Loss, before Tax, Portion Attributable to Parent, Available-for-sale Securities	30	3	31	3
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings	(24)	(11)	(50)	(16)
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	3	35	66	22
Other Investments [Member]
Gain (Loss) on Securities [Line Items]
Other investments gain (loss)	(4)	5	(18)	23
Other [Member]
Gain (Loss) on Securities [Line Items]
Other	$ (4)	$ (5)	$ (4)	$ (61)

Investments (Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which Portion Of Other-Than-Temporary Impairment Was Recognized In Other Comprehensive Income) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Roll-Forward Of Pre-Tax Credit Losses Related To Fixed Maturities For Which Portion Of Other-Than-Temporary Impairment Was Recognized In Other Comprehensive Income [Roll Forward]
Balance of credit losses related to securities still held – beginning of period	$ 30	$ 16	$ 34	$ 22
Additions where no OTTI was previously recorded	17	6	28	7
Additions where an OTTI was previously recorded	1	2	4	2
Reductions for securities sold during the period	(8)	(3)	(26)	(10)
Balance of credit losses related to securities still held – end of period	$ 40	$ 21	$ 40	$ 21

Investments Schedule of Gains and Losses on Equity and Other Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	$ 3	$ 35	$ 66	$ 22
Other Investments [Member]
Gain (Loss) on Securities [Line Items]
Net gains (losses) recognized during the period	(4)	5	(18)	23
Accounting Standards Update 2016-01 [Member] \| Equity Securities [Member]
Gain (Loss) on Securities [Line Items]
Equity Securities, FV-NI, Realized Gain (Loss)	3	35	66	22
Less: Net gains (losses) recognized from sales of securities	24	48	57	63
Unrealized gains (losses) recognized for securities still held at reporting date	(21)	(13)	9	(41)
Accounting Standards Update 2016-01 [Member] \| Other Investments [Member]
Gain (Loss) on Securities [Line Items]
Net gains (losses) recognized during the period	(4)	5	(18)	23
Less: Net gains (losses) recognized from sales of securities	(2)	0	(4)	0
Unrealized gains (losses) recognized for securities still held at reporting date	(2)	5	(14)	23
Accounting Standards Update 2016-01 [Member] \| Equity securities and other investments [Member]
Gain (Loss) on Securities [Line Items]
Net gains (losses) recognized during the period	(1)	40	48	45
Less: Net gains (losses) recognized from sales of securities	22	48	53	63
Unrealized gains (losses) recognized for securities still held at reporting date	$ (23)	$ (8)	$ (5)	$ (18)

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	Sep. 30, 2019	Dec. 31, 2018
Investment [Line Items]
Fair Value 0-12 months	$ 5,111	$ 34,952
Gross unrealized (loss) 0-12 months	(88)	(953)
Fair Value over 12 months	4,239	27,762
Gross unrealized (loss) over 12 months	(120)	(817)
Fair Value	9,350	62,714
Gross unrealized (loss)	(208)	(1,770)
U.S. Treasury and agency
Investment [Line Items]
Fair Value 0-12 months	144	523
Gross unrealized (loss) 0-12 months	0	(4)
Fair Value over 12 months	531	2,859
Gross unrealized (loss) over 12 months	(1)	(50)
Fair Value	675	3,382
Gross unrealized (loss)	(1)	(54)
Foreign
Investment [Line Items]
Fair Value 0-12 months	1,077	6,764
Gross unrealized (loss) 0-12 months	(23)	(208)
Fair Value over 12 months	1,014	5,349
Gross unrealized (loss) over 12 months	(46)	(159)
Fair Value	2,091	12,113
Gross unrealized (loss)	(69)	(367)
Corporate securities
Investment [Line Items]
Fair Value 0-12 months	2,600	16,538
Gross unrealized (loss) 0-12 months	(62)	(599)
Fair Value over 12 months	1,095	4,873
Gross unrealized (loss) over 12 months	(50)	(255)
Fair Value	3,695	21,411
Gross unrealized (loss)	(112)	(854)
Mortgage-backed securities
Investment [Line Items]
Fair Value 0-12 months	640	6,103
Gross unrealized (loss) 0-12 months	(2)	(98)
Fair Value over 12 months	1,228	6,913
Gross unrealized (loss) over 12 months	(11)	(229)
Fair Value	1,868	13,016
Gross unrealized (loss)	(13)	(327)
States, municipalities, and political subdivisions
Investment [Line Items]
Fair Value 0-12 months	650	5,024
Gross unrealized (loss) 0-12 months	(1)	(44)
Fair Value over 12 months	371	7,768
Gross unrealized (loss) over 12 months	(12)	(124)
Fair Value	1,021	12,792
Gross unrealized (loss)	$ (13)	$ (168)

Investments (Schedule Of Components Of Restricted Assets) (Detail) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Trust funds	$ 14,325	$ 13,988
Deposits with U.S. regulatory authorities	2,476	2,405
Deposits with non-U.S. regulatory authorities	2,706	2,531
Assets pledged under repurchase agreements	1,474	1,468
Other pledged assets	447	692
Total restricted assets	$ 21,428	$ 21,084

Fair value measurements Fair Value Measurements (narrative) (Details)	9 Months Ended
	Sep. 30, 2019
Minimum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Notice Period For Redemption For Alternative Investments Investment Funds	5 days
Maximum [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Notice Period For Redemption For Alternative Investments Investment Funds	120 days

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

Sep. 30, 2019

Jun. 30, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Dec. 31, 2017

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

$ 85,044

$ 78,470

722

770

5,955

5,277

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

962

1,926

U.S. Treasury and agency

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

3,570

4,145

Foreign

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

23,077

21,416

Corporate securities

Mortgage-backed securities

31,367

26,583

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

States, municipalities, and political subdivisions

19,014

15,540

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

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

8,016

10,786

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

Other Investments [Member]

4,871

4,244

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

Fair Value, Recurring [Member] | Level 1

88

95

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

2,893

3,400

662

713

1,483

1,575

392

^[1]

381

^[2]

0

22

28

7

25

3,140

2,686

8,599

^[1]

8,808

^[2]

Fair Value, Recurring [Member] | Level 1 | U.S. Treasury and agency

63

38

63

38

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

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

2,893

3,400

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

Fair Value, Recurring [Member] | Level 1 | Corporate 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 | States, municipalities, and political subdivisions

0

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

Fair Value, Recurring [Member] | Level 2

0

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

80,231

73,365

4

0

1,346

1,440

353

^[1]

303

^[2]

962

1,926

0

0

147

137

83,043

^[1]

77,171

^[2]

Fair Value, Recurring [Member] | Level 2 | U.S. Treasury and agency

0

115

0

115

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

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

677

745

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

Fair Value, Recurring [Member] | Level 2 | Corporate securities

22,684

21,071

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

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

29,917

25,284

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

Fair Value, Recurring [Member] | Level 2 | States, municipalities, and political subdivisions

18,937

15,479

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

Fair Value, Recurring [Member] | Level 3

8,016

10,786

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

1,920

1,705

56

57

6

1

10

^[1]

11

^[2]

0

0

0

0

1,992

^[1]

1,774

^[2]

Fair Value, Recurring [Member] | Level 3 | U.S. Treasury and agency

0

509

452

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

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

0

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

Fair Value, Recurring [Member] | Level 3 | Corporate securities

393

345

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

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

1,450

1,299

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

Fair Value, Recurring [Member] | Level 3 | States, municipalities, and political subdivisions

77

61

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

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

0

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

85,044

78,470

722

770

2,835

3,016

755

^[1]

695

^[2]

962

1,926

22

28

7

25

3,287

2,823

93,634

^[1]

87,753

^[2]

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | U.S. Treasury and agency

63

153

572

605

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

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

3,570

4,145

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

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

23,077

21,416

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

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

31,367

26,583

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

Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | States, municipalities, and political subdivisions

19,014

15,540

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

8,016

10,786

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

509

$ 403

452

$ 71

$ 125

$ 204

Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 1

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

^[3]

0

Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 2

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

^[3]

0

Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 3

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

^[3]

509

452

Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member]

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

^[3]

$ 509

$ 452

[1]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,871 million and other investments of $88 million at September 30, 2019 measured using NAV as a practical expedient.
[2]	Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,244 million and other investments of $95 million at December 31, 2018 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. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.

Fair Value Measurements (Fair Value And Maximum Future Funding Commitments Related To Investments) (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 4,871	$ 4,244
Maximum future funding commitments	3,478	3,705
Financial
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	568	596
Maximum future funding commitments	$ 360	$ 193
Financial \| Minimum [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
Financial \| Maximum [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
Real Assets
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 771	$ 704
Maximum future funding commitments	$ 497	$ 362
Real Assets \| Minimum [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
Real Assets \| Maximum [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	11 years	11 years
Distressed
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 264	$ 296
Maximum future funding commitments	$ 89	$ 105
Distressed \| Minimum [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
Distressed \| Maximum [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	7 years	7 years
Private Credit
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 109	$ 147
Maximum future funding commitments	$ 271	$ 310
Private Credit \| Minimum [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
Private Credit \| Maximum [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
Traditional
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 2,767	$ 2,362
Maximum future funding commitments	$ 2,224	$ 2,735
Traditional \| Minimum [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
Traditional \| Maximum [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
Vintage
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 134	$ 56
Maximum future funding commitments	$ 37	$ 0
Vintage \| Minimum [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
Vintage \| Maximum [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
Investment funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Alternative Investment	$ 258	$ 83
Maximum future funding commitments	$ 0	$ 0

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

9 Months Ended

Sep. 30, 2019

Jun. 30, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Dec. 31, 2017

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

Fair Value Measurements, Valuation Processes, Description

^[1]

Actuarial model

Minimum [Member]

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

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

^[1]

3.00%

Significant Unobservable Inputs Annuitization Rate

^[1]

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

^[1]

32.00%

Significant Unobservable Inputs Annuitization Rate

^[1]

42.00%

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

$ 509

$ 403

$ 452

$ 71

$ 125

$ 204

Guaranteed Minimum Income Benefit [Member] | Level 3 | Fair Value, Recurring [Member]

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

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

^[2]

$ 509

$ 452

[1]	Discussion of the most significant inputs used in the fair value measurement of GLB and the sensitivity of those assumptions is included within Note 3 a) Guaranteed living benefits.
[2]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.

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

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Foreign

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

$ 371

$ 252

$ 345

$ 93

0

5

3

12

Asset, Net realized Gain (Loss) Included in Other Comprehensive Income (Loss)

0

(2)

(15)

(2)

(8)

(2)

0

0

(2)

(1)

(2)

68

98

164

280

(35)

(22)

(54)

(52)

(3)

(4)

(47)

(6)

Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)

393

323

393

323

0

(1)

0

(1)

Corporate securities

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

1,359

1,181

1,299

1,037

1

18

16

24

Asset, Net realized Gain (Loss) Included in Other Comprehensive Income (Loss)

0

(21)

0

(31)

(4)

7

1

(5)

0

(6)

0

(4)

176

98

^[1]

425

454

^[1]

(18)

(91)

(114)

(64)

(85)

(200)

(187)

Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)

1,450

1,174

1,450

1,174

0

(6)

(1)

(6)

Mortgage-backed securities

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

76

82

61

78

0

1

Asset, Net realized Gain (Loss) Included in Other Comprehensive Income (Loss)

0

0

0

1

19

5

0

(1)

0

0

(18)

(2)

(19)

Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)

77

65

77

65

0

Equity Securities [Member]

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

56

59

57

44

0

Asset, Net realized Gain (Loss) Included in Other Comprehensive Income (Loss)

0

(1)

1

0

(1)

7

(4)

6

5

6

19

26

(3)

(18)

(17)

(23)

0

Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)

56

53

56

53

(1)

1

(3)

0

Short-term Investments [Member]

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

4

12

1

0

0

5

Asset, Net realized Gain (Loss) Included in Other Comprehensive Income (Loss)

0

0

0

2

0

6

9

0

0

(6)

(1)

(8)

Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)

6

0

Other Long-term Investments [Member]

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

11

264

11

263

0

Asset, Net realized Gain (Loss) Included in Other Comprehensive Income (Loss)

0

0

(4)

0

(2)

0

1

0

20

0

50

0

(1)

(17)

(1)

(49)

Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)

10

263

10

263

$ 0

$ 1

[1]	Purchases in Level 3 primarily consist of privately-placed fixed income securities.

Fair value measurements Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Jun. 30, 2019

Dec. 31, 2018

Jun. 30, 2018

Dec. 31, 2017

Derivative Financial Instruments, Liabilities [Member] | Level 3

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Balance - Beginning of Period, Liabilities

$ 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

0

Purchases, Liabilities

0

Sales, Liabilities

0

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements

0

Balance - End of Period, Liabilities

2

Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)

0

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

Guaranteed Benefit Liability, Net

$ 935

453

$ 935

453

$ 815

$ 861

$ 497

$ 550

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Balance - Beginning of Period, Liabilities

403

125

452

204

Balance - End of Period, Liabilities

509

71

509

71

Guaranteed Minimum Income Benefit [Member] | Guarantees [Member] | Level 3

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]

Balance - Beginning of Period, Liabilities

403

^[1]

125

^[2]

452

^[3]

204

^[4]

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

106

(54)

57

(133)

Purchases, Liabilities

0

Sales, Liabilities

0

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements

0

Balance - End of Period, Liabilities

509

^[1],[3]

71

^[2],[4]

509

^[1],[3]

71

^[2],[4]

Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)

$ 106

$ (54)

$ 57

$ (133)

[1]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $815 million at June 30, 2019, which includes a fair value derivative adjustment of $509 million and $403 million, respectively
[2]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $497 million at June 30, 2018, which includes a fair value derivative adjustment of $71 million and $125 million, respectively.
[3]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $935 million at September 30, 2019, and $861 million at December 31, 2018, which includes a fair value derivative adjustment of $509 million and $452 million, respectively.
[4]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets. The liability for GLB reinsurance was $453 million at September 30, 2018, and $550 million at December 31, 2017, which includes a fair value derivative adjustment of $71 million and $204 million, respectively.

Fair Value Measurements (Carrying Values And Fair Values Of Financial Instruments Not Measured At Fair Value) (Detail) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	$ 13,096	$ 13,259
Debt Securities, Held-to-maturity	12,622	13,435
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,416	1,418
Short-term debt	10	509
Long-term debt	13,285	12,087
Trust preferred securities	308	308
Total liabilities	120,576	117,459
U.S. Treasury and agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,270	1,182
Debt Securities, Held-to-maturity	1,234	1,185
Foreign
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,485	1,542
Debt Securities, Held-to-maturity	1,401	1,549
Corporate securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	2,514	2,508
Debt Securities, Held-to-maturity	2,391	2,601
Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	2,474	2,486
Debt Securities, Held-to-maturity	2,391	2,524
States, municipalities, and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	5,353	5,541
Debt Securities, Held-to-maturity	5,205	5,576
Level 1
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,213	1,128
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 1 \| U.S. Treasury and agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,213	1,128
Level 1 \| Foreign
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 1 \| Corporate securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 1 \| Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 1 \| States, municipalities, and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 2
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	11,851	12,100
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,416	1,418
Short-term Debt, Fair Value	10	516
Long-term Debt, Fair Value	14,901	12,181
Trust preferred securities	457	409
Total liabilities	16,784	14,524
Level 2 \| U.S. Treasury and agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	57	54
Level 2 \| Foreign
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,485	1,542
Level 2 \| Corporate securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	2,482	2,477
Level 2 \| Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	2,474	2,486
Level 2 \| States, municipalities, and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	5,353	5,541
Level 3
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	32	31
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 3 \| U.S. Treasury and agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 3 \| Foreign
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 3 \| Corporate securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	32	31
Level 3 \| Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Level 3 \| States, municipalities, and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	0	0
Estimate of Fair Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	13,096	13,259
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,416	1,418
Short-term Debt, Fair Value	10	516
Long-term Debt, Fair Value	14,901	12,181
Trust preferred securities	457	409
Total liabilities	16,784	14,524
Estimate of Fair Value Measurement [Member] \| U.S. Treasury and agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,270	1,182
Estimate of Fair Value Measurement [Member] \| Foreign
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	1,485	1,542
Estimate of Fair Value Measurement [Member] \| Corporate securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	2,514	2,508
Estimate of Fair Value Measurement [Member] \| Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	2,474	2,486
Estimate of Fair Value Measurement [Member] \| States, municipalities, and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity, Fair Value	5,353	5,541
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	12,622	13,435
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Repurchase agreements	1,416	1,418
Short-term debt	10	509
Long-term debt	13,285	12,087
Trust preferred securities	308	308
Total liabilities	15,019	14,322
Reported Value Measurement [Member] \| U.S. Treasury and agency
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,234	1,185
Reported Value Measurement [Member] \| Foreign
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	1,401	1,549
Reported Value Measurement [Member] \| Corporate securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	2,391	2,601
Reported Value Measurement [Member] \| Mortgage-backed securities
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	2,391	2,524
Reported Value Measurement [Member] \| States, municipalities, and political subdivisions
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Debt Securities, Held-to-maturity	$ 5,205	$ 5,576

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

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Unpaid Losses and Loss Expenses [Roll Forward]

Gross unpaid losses and loss expenses – beginning of period

$ 62,960

$ 63,179

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

^[1]

(14,689)

(14,014)

Net unpaid losses and loss expenses – beginning of period

48,271

49,165

Current Year Claims and Claims Adjustment Expense

14,484

14,186

Prior Year Claims and Claims Adjustment Expense

^[2]

(619)

(729)

Total, Incurred

13,865

13,457

Net loss and loss expenses paid, Current Year

4,920

4,522

Net loss and loss expenses paid, Prior Years

8,374

8,596

Total, Paid

13,294

13,118

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

(162)

(440)

Net unpaid losses and loss expenses – end of period

48,680

49,064

Reinsurance recoverable on unpaid losses (1)

^[1]

14,332

13,965

Gross unpaid losses and loss expenses – end of period

63,012

63,029

prior period development, net adjustments

60

$ 86

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

52

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

$ 409

[1]	Net of provision 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 $60 million and $86 million for the nine months ended September 30, 2019 and 2018, respectively.

Unpaid losses and loss expenses Unpaid losses and loss expenses (PPD table) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (167)	$ (243)	$ (559)	$ (643)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(109)	(216)	(425)	(472)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(62)	58	(88)	59
North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	18	(1)	(43)	(77)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(25)	(72)	(49)	(166)
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(25)	(24)	(33)	(54)
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	36	12	79	67
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	85	3	(45)	(324)
Short Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	88	(46)	43	(206)
Short Tail [Member] \| North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(62)	58	(88)	59
Short Tail [Member] \| North American Agriculture Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	18	(1)	(43)	(77)
Short Tail [Member] \| Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	41	(23)	17	(115)
Short Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	15	26	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	(252)	(246)	(514)	(319)
Long Tail [Member] \| North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(197)	(170)	(468)	(266)
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	(66)	(49)	(66)	(51)
Long Tail [Member] \| Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(25)	(39)	(59)	(69)
Long Tail [Member] \| Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 36	$ 12	$ 79	$ 67

Unpaid losses and loss expenses Unpaid losses and loss expenses (narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ (167)	$ (243)	$ (559)	$ (643)
Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(252)	(246)	(514)	(319)
Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	85	3	(45)	(324)
North America Commercial P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(109)	(216)	(425)	(472)
North America Commercial P&C Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(197)	(170)	(468)	(266)
North America Commercial P&C Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	88	(46)	43	(206)
North America Commercial P&C Insurance [Member] \| North America Workers' Compensation [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(294)	(183)
North America Commercial P&C Insurance [Member] \| Foreign Casualty Line [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(39)	(28)
North America Commercial P&C Insurance [Member] \| Multi-Line [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(34)		(36)
North America Commercial P&C Insurance [Member] \| Auto Liability Excess Lines [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			31	71
North America Commercial P&C Insurance [Member] \| Commercial Excess and Umbrella [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(63)
North America Commercial P&C Insurance [Member] \| Other [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(50)
North America Commercial P&C Insurance [Member] \| Commercial Property and Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(41)		(156)
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				(19)
North America Commercial P&C Insurance [Member] \| Catastrophe [Member] \| Property and Inland Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(27)
North America Commercial P&C Insurance [Member] \| Non-catastrophe [Member] \| Property and Inland Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	116
North America Commercial P&C Insurance [Member] \| Accident Year 2013 and prior [Member] \| Commercial Excess and Umbrella [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(32)
North America Commercial P&C Insurance [Member] \| Accident years 2012 and prior [Member] \| Commercial Excess and Umbrella [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(93)		(123)
North America Commercial P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| North America Workers' Compensation [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(56)
North America Commercial P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Surety Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(49)
North America Commercial P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Other [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(3)
North America Commercial P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Property and Inland Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(42)		(157)
North America Commercial P&C Insurance [Member] \| Accident years 2014 and prior [Member] \| North America Workers' Compensation [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(45)		(127)
North America Commercial P&C Insurance [Member] \| Accident years 2014 and prior [Member] \| Foreign Casualty Line [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(28)
North America Commercial P&C Insurance [Member] \| Accident years 2017 - 2018 [Member] \| Catastrophe [Member] \| Property and Inland Marine [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] \| Short-duration Insurance Contracts, Accident Year 2018 [Member] \| North America Workers' Compensation [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(61)
North America Commercial P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2018 [Member] \| Property and Inland Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	154
North America Commercial P&C Insurance [Member] \| Accident years 2017 and prior [Member] \| Non-catastrophe [Member] \| Property and Inland Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(38)
North America Commercial P&C Insurance [Member] \| Accident year 2015 and prior [Member] \| Professional Malpractice Liability Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(53)
North America Commercial P&C Insurance [Member] \| Accident year 2015 and prior [Member] \| North America Workers' Compensation [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(94)
North America Commercial P&C Insurance [Member] \| Accident year 2015 and prior [Member] \| Foreign Casualty Line [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(39)
North America Commercial P&C Insurance [Member] \| Accident year 2015 and prior [Member] \| Multi-Line [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(36)
North America Personal P&C Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(62)	58	(88)	59
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	(62)	58	(88)	59
North America Personal P&C Insurance [Member] \| Auto Liability and Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(16)
North America Personal P&C Insurance [Member] \| Non-catastrophe [Member] \| Homeowners and Valuables [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		137
North America Personal P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Homeowners and Valuables [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		80
North America Personal P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(68)
North America Personal P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Homeowners and Valuables [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(57)
North America Personal P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2015 [Member] \| Personal lines [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(24)
North America Personal P&C Insurance [Member] \| Accident years 2017 - 2018 [Member] \| Catastrophe [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			(132)
North America Personal P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2018 [Member] \| Homeowners and Valuables [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(36)		82
North America Personal P&C Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2016 [Member] \| Personal lines [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(26)		(26)
North America Agricultural Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	18	(1)	(43)	(77)
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	18	(1)	(43)	(77)
North America Agricultural Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(1)
Overseas General Insurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(25)	(72)	(49)	(166)
Overseas General Insurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(66)	(49)	(66)	(51)
Overseas General Insurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	41	(23)	17	(115)
Overseas General Insurance [Member] \| Political Risk [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(12)
Overseas General Insurance [Member] \| Aviation [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(10)
Overseas General Insurance [Member] \| Personal lines [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(17)
Overseas General Insurance [Member] \| Financial \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	50	38
Overseas General Insurance [Member] \| Other [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(33)
Overseas General Insurance [Member] \| Other [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(57)
Overseas General Insurance [Member] \| Surety Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(17)
Overseas General Insurance [Member] \| Accident and Health Insurance Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(16)
Overseas General Insurance [Member] \| Energy Lines [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(13)
Overseas General Insurance [Member] \| Casualty Lines [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(101)	(54)
Overseas General Insurance [Member] \| Environmental Issue [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(10)
Overseas General Insurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		4		(8)
Overseas General Insurance [Member] \| Accident years 2014 and prior [Member] \| Financial \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(93)
Overseas General Insurance [Member] \| Accident years 2014 and prior [Member] \| Casualty Lines [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(92)
Overseas General Insurance [Member] \| Accident years 2015 - 2017 [Member] \| Financial \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		131
Overseas General Insurance [Member] \| Accident years 2015 - 2017 [Member] \| Casualty Lines [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		38
Overseas General Insurance [Member] \| Accident years 2012 - 2015 [Member] \| Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		(21)
Overseas General Insurance [Member] \| Accident years 2017 - 2018 [Member] \| Surety Product Line [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	27
Overseas General Insurance [Member] \| Accident years 2014 and 2016 [Member] \| Property and Inland Marine [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development				(50)
Overseas General Insurance [Member] \| Accident year 2015 and prior [Member] \| Financial \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(75)
Overseas General Insurance [Member] \| Accident year 2015 and prior [Member] \| Casualty Lines [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(123)
Overseas General Insurance [Member] \| Accident years 2016 - 2018 [Member] \| Financial \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	125
Overseas General Insurance [Member] \| Accident years 2016 - 2018 [Member] \| Casualty Lines [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	22
Global Reinsurance [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(25)	(24)	(33)	(54)
Global Reinsurance [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	(25)	(39)	(59)	(69)
Global Reinsurance [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	0	15	26	15
Global Reinsurance [Member] \| Short-duration Insurance Contracts, Accident Year 2017 [Member] \| Catastrophe [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development		15		14
Global Reinsurance [Member] \| Accident years 2017 - 2018 [Member] \| Catastrophe [Member] \| Short Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development			37
Corporate Segment [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	36	12	79	67
Corporate Segment [Member] \| Discontinued Operations [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	9		28
Corporate Segment [Member] \| Long Tail [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	36	12	79	67
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] \| Environmental Issue [Member]
Liability for Claims and Claims Adjustment Expense [Line Items]
Net Prior Period Development	$ 27	$ 54

Debt (Detail) - Senior Notes [Member] € in Millions, $ in Millions	Jun. 30, 2019 USD ($)	Jun. 30, 2019 EUR (€)
INA Senior Note Due June 2027 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 650	€ 575
Debt Instrument, Interest Rate, Stated Percentage	0.875%	0.875%
Make Whole Premium Additional Percent	0.20%	0.20%
INA Senior Note Due June 2031 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 650	€ 575
Debt Instrument, Interest Rate, Stated Percentage	1.40%	1.40%
Make Whole Premium Additional Percent	0.25%	0.25%
INA Senior Note Due June 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500
Debt Instrument, Interest Rate, Stated Percentage	5.90%	5.90%

Commitments, Contingencies, And Guarantees (Narrative) (Detail) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Financial Instruments Owned and Pledged as Collateral [Line Items]
Derivative liability subject to a master netting agreement	$ 30	$ 95
Repurchase agreements	1,416	$ 1,418
Purchase Commitment, Remaining Minimum Amount Committed	799
Carrying value of limited partnerships and partially-owned investment companies included in other investments	4,600
Funding commitments relating to limited partnerships and partially-owned investment companies	3,500
Unrecognized tax benefits	13
Operating Lease, Right-of-Use Asset	577
Operating Lease, Liability	$ 617

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

Sep. 30, 2019

Jun. 30, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Dec. 31, 2017

Foreign currency forward contracts

$ 5,738

$ 5,506

2,888

2,185

Cross-currency swaps

Interest Rate Swap [Member]

0

45

Options/Futures contracts on notes, bonds, and equities

0

5,250

853

1,046

Convertible securities

^[1]

8

11

To be announced [Member]

Total investment and embedded derivative instruments

0

6

27

43

Futures contracts on equities

3,749

8,543

582

507

Other Derivative Instruments [Member]

207

74

789

581

^[2]

0

1,729

1,750

Other Assets [Member] | Foreign currency forward contracts

426

409

Other Assets [Member] | Cross-currency swaps

10

15

Other Assets [Member] | Interest Rate Swap [Member]

0

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

0

Other Assets [Member] | Futures contracts on equities

12

13

Other Assets [Member] | Other

^[3]

6

23

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

1

2

Fixed Maturities [Member] | Convertible securities

7

25

Fixed Maturities [Member] | To be announced [Member]

^[1]

5

9

6

Equity Securities [Member] | Convertible securities

0

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

^[1]

0

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Cross-currency swaps

(59)

(19)

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

0

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

0

(115)

Accounts Payable, Accrued Expenses, And Other Liabilities [Member] | Total investment and embedded derivative instruments

(4)

(19)

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

(63)

(153)

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

^[3]

0

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

0

Balance Sheet Location Accounts Payable Future Policy Benefits [Member] | Guaranteed Minimum Income Benefit [Member]

0

^[2]

(935)

(861)

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

509

$ 403

452

$ 71

$ 125

$ 204

Guaranteed Benefit Liability, Net

935

$ 815

861

$ 453

$ 497

$ 550

Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 3

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

^[4]

$ 509

$ 452

[1]	Includes fair value of embedded derivatives.
[2]	Includes both future policy benefits reserves of $426 million and $409 million and fair value derivative adjustment of $509 million and $452 million at September 30, 2019 and December 31, 2018, respectively. 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.
[3]	Related to GMDB and GLB blocks of business.
[4]	Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.

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

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Derivative Instruments, Gain (Loss) [Line Items]

Foreign currency forward contracts

$ (223)

$ (17)

$ (562)

$ 91

Derivative Instruments, Gain (Loss) [Line Items]

Interest Rate Swap [Member]

(20)

(2)

(57)

5

Derivative Instruments, Gain (Loss) [Line Items]

All Other Futures Contracts, Options and equities [Member]

(55)

26

(270)

26

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

(22)

13

(83)

47

Convertible securities

Total investment and embedded derivative instruments

0

^[1]

0

2

^[1]

0

Derivative Instruments, Gain (Loss) [Line Items]

Derivative Instruments, Gain (Loss) [Line Items]

(97)

37

(408)

78

GLB

Futures contracts on equities

^[2]

(106)

54

(57)

133

Derivative Instruments, Gain (Loss) [Line Items]

^[3]

(6)

(100)

(89)

(122)

Derivative Instruments, Gain (Loss) [Line Items]

Guaranteed Living Benefit And Other Derivative Instruments [Member]

(14)

(8)

2

Derivative Instruments, Gain (Loss) [Line Items]

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

$ (126)

$ (54)

$ (154)

$ 13

[1]	Includes embedded derivatives.
[2]	Excludes foreign exchange gains (losses) related to GLB.
[3]	Related to GMDB and GLB books of business.

Commitments, contingencies, and guarantees Commitments, Contingencies, And Guarantees (Transactions accounted for as secured borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 962	$ 1,926
Securities lending payable	962	1,926
Cash [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	562	756
U.S. Treasury and agency \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	70	64
Foreign [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	249	795
Corporate securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	17	15
Mortgage-backed securities \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	18	45
Equity Securities [Member] \| Overnight and Continuous [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending collateral	$ 46	$ 251

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

Sep. 30, 2019

Dec. 31, 2018

$ 1,474

$ 1,468

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

1,416

1,418

U.S. Treasury and agency

Mortgage-backed securities

107

259

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

Repurchase Agreements [Member]

1,367

1,209

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

Secured Borrowings, Gross, Difference, Amount

^[1]

58

50

Maturity Greater than 90 Days [Member]

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

Maturity Greater than 90 Days [Member] | U.S. Treasury and agency

986

972

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

Maturity Greater than 90 Days [Member] | Mortgage-backed securities

107

259

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

Maturity 30 to 90 Days [Member]

879

713

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

Maturity 30 to 90 Days [Member] | U.S. Treasury and agency

488

496

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

Maturity 30 to 90 Days [Member] | Mortgage-backed securities

0

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

$ 488

$ 496

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

Share-Based Compensation (Detail) - $ / shares		9 Months Ended
Share-Based Compensation (Detail) - $ / shares	Feb. 28, 2019	Sep. 30, 2019
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	2,073,712
Weighted-average grant date fair value for stock options granted	$ 18.79
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	1,078,247
Grant date fair value of awards except for options granted to employees and officers of the company	$ 133.90
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	212,059
Grant date fair value of awards except for options granted to employees and officers of the company	$ 133.90
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	357,463
Grant date fair value of awards except for options granted to employees and officers of the company	$ 133.90

Shareholders' equity (Details) - SFr / shares	Sep. 30, 2019	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Common Shares, par value	SFr 24.15	SFr 24.15
Common Shares in treasury, shares	26,250,222	20,580,486

Shareholders' equity Dividends Declared (Details)	3 Months Ended				9 Months Ended
Shareholders' equity Dividends Declared (Details)	Sep. 30, 2019 $ / shares	Sep. 30, 2019 SFr / shares	Sep. 30, 2018 $ / shares	Sep. 30, 2018 SFr / shares	Sep. 30, 2019 $ / shares	Sep. 30, 2019 SFr / shares	Sep. 30, 2018 $ / shares	Sep. 30, 2018 SFr / shares	May 16, 2019 $ / shares	May 31, 2018 $ / shares	May 31, 2017 $ / shares
Equity, Class of Treasury Stock [Line Items]
Annual dividend per share approved by shareholders									$ 3.00	$ 2.92	$ 2.84
Common Stock, Dividend Rate Approved									$ 0.75	$ 0.73	$ 0.71
United States of America, Dollars
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.75		$ 0.73		$ 2.23		$ 2.17
Switzerland, Francs
Equity, Class of Treasury Stock [Line Items]
Common Stock, Dividends, Per Share, Declared \| SFr / shares		SFr 0.73		SFr 0.72		SFr 2.20		SFr 2.11

Shareholders' equity Share Repurchases (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 01, 2018	Dec. 21, 2017
2019 Stock Repurchase Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount						$ 1,500
Number of shares repurchased		3,079,618		8,417,838
Cost of shares repurchased		$ 478		$ 1,221
Repurchase authorization remaining at end of period		$ 258		$ 258
2018 Stock Repurchase Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount							$ 1,000
Number of shares repurchased			2,781,307		5,225,162
Cost of shares repurchased			$ 379		$ 703
Repurchase authorization remaining at end of period			$ 297		$ 297
Subsequent Event [Member] \| 2019 Stock Repurchase Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased	700,900
Cost of shares repurchased	$ 108
Repurchase authorization remaining at end of period	$ 150

Postretirement benefits Components of net periodic benefit costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	$ 15	$ 17	$ 45	$ 52
Non-service (benefit) cost	(20)	(32)	(63)	(96)
Net periodic (benefit) cost	(5)	(15)	(18)	(44)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	1	0	1
Interest cost	1	1	3	3
Expected return on plan assets	(1)	(2)	(3)	(4)
Defined Benefit Plan, Amortization of Loss	0	0	0	0
Amortization of prior service cost	(20)	(21)	(60)	(64)
Curtailments	0	(1)	0	(2)
Settlements	0	0	0	0
Non-service (benefit) cost	(20)	(23)	(60)	(67)
Net periodic (benefit) cost	(20)	(22)	(60)	(66)
Losses and loss expenses \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	2	2	5	5
Non-service (benefit) cost	(1)	(3)	(5)	(8)
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	(2)	(3)	(6)	(7)
Administrative Expense \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	13	15	40	47
Non-service (benefit) cost	(19)	(29)	(58)	(88)
Administrative Expense \| Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	0	1	0	1
Non-service (benefit) cost	(18)	(20)	(54)	(60)
Foreign Plan [Member] \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	3	3	8	9
Interest cost	6	6	20	20
Expected return on plan assets	(11)	(12)	(33)	(38)
Defined Benefit Plan, Amortization of Loss	1	1	2	1
Amortization of prior service cost	0	0	0	0
Curtailments	0	0	0	0
Settlements	0	0	0	0
Non-service (benefit) cost	(4)	(5)	(11)	(17)
Net periodic (benefit) cost	(1)	(2)	(3)	(8)
UNITED STATES \| Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans
Service cost	12	14	37	43
Interest cost	30	26	89	79
Expected return on plan assets	(47)	(53)	(142)	(159)
Defined Benefit Plan, Amortization of Loss	0	0	0	0
Amortization of prior service cost	0	0	0	0
Curtailments	0	0	0	0
Settlements	1	0	1	1
Non-service (benefit) cost	(16)	(27)	(52)	(79)
Net periodic (benefit) cost	$ (4)	$ (13)	$ (15)	$ (36)

Segment information Segment Information (narrative Detail (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Gain (Loss) on Derivative	$ (223)	$ (17)	$ (562)	$ 91
Net investment income	873	823	2,568	2,457
North America Agricultural Insurance [Member]
Segment Reporting Information [Line Items]
Segment Income Loss Including Gains Losses On Crop Derivatives	1
Gain (Loss) on Derivative	14
Net investment income	8	7	22	20
Segment Life [Member]
Segment Reporting Information [Line Items]
Net investment income	92	$ 85	$ 278	$ 253
Management Underwriting Income (Loss)	79
Gains(Losses) On Fair Value Changes In Separate Account Assets	$ 7

Segment Information (Operations By Segment) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net premiums written	$ 8,622	$ 8,110	$ 24,278	$ 23,229
Net premiums earned	8,327	7,908	23,355	22,599
Losses and loss expenses	5,052	4,868	13,865	13,457
Policy benefits	158	127	515	428
Policy acquisition costs	1,603	1,504	4,611	4,432
Administrative expenses	752	719	2,220	2,158
Underwriting income (loss)	762	690	2,144	2,124
Net investment income (loss)	873	823	2,568	2,457
Other (income) expense	(57)	(145)	(326)	(307)
Amortization of purchased intangibles	76	83	229	253
Segment Income (loss)	1,616	1,575	4,809	4,635
Net Realized Gains Losses	(155)	19	(475)	35
Interest expense	138	164	418	488
Chubb integration expenses	2	16	9	39
Income tax expense	230	183	626	536
Net income	1,091	1,231	3,281	3,607
North America Commercial P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	3,452	3,199	9,937	9,342
Net premiums earned	3,185	3,019	9,660	9,325
Losses and loss expenses	2,051	1,881	6,238	5,873
Policy benefits	0	0	0	0
Policy acquisition costs	459	458	1,377	1,378
Administrative expenses	256	251	755	735
Underwriting income (loss)	419	429	1,290	1,339
Net investment income (loss)	532	503	1,563	1,516
Other (income) expense	(1)	(1)	(4)	(20)
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	952	933	2,857	2,875
North America Personal P&C Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	1,251	1,218	3,616	3,601
Net premiums earned	1,187	1,167	3,509	3,463
Losses and loss expenses	674	860	2,178	2,474
Policy benefits	0	0	0	0
Policy acquisition costs	240	236	708	701
Administrative expenses	72	69	211	202
Underwriting income (loss)	201	2	412	86
Net investment income (loss)	66	59	194	177
Other (income) expense	1	0	2	1
Amortization of purchased intangibles	3	4	9	10
Segment Income (loss)	263	57	595	252
North America Agricultural Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	938	884	1,534	1,380
Net premiums earned	941	857	1,374	1,251
Losses and loss expenses	866	719	1,155	955
Policy benefits	0	0	0	0
Policy acquisition costs	56	49	90	74
Administrative expenses	4	2	9	0
Underwriting income (loss)	15	87	120	222
Net investment income (loss)	8	7	22	20
Other (income) expense	0	0	1	1
Amortization of purchased intangibles	7	7	21	21
Segment Income (loss)	16	87	120	220
Overseas General Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	2,228	2,081	6,881	6,664
Net premiums earned	2,256	2,157	6,595	6,425
Losses and loss expenses	1,154	1,114	3,385	3,263
Policy benefits	0	0	0	0
Policy acquisition costs	630	582	1,855	1,754
Administrative expenses	257	252	771	757
Underwriting income (loss)	215	209	584	651
Net investment income (loss)	148	155	443	461
Other (income) expense	3	(7)	10	(12)
Amortization of purchased intangibles	11	8	34	29
Segment Income (loss)	349	363	983	1,095
Global Reinsurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	141	164	540	554
Net premiums earned	160	157	487	492
Losses and loss expenses	79	86	245	236
Policy benefits	0	0	0	0
Policy acquisition costs	42	40	127	120
Administrative expenses	9	10	26	29
Underwriting income (loss)	30	21	89	107
Net investment income (loss)	55	63	166	192
Other (income) expense	(16)	(13)	(40)	(26)
Amortization of purchased intangibles	0	0	0	0
Segment Income (loss)	101	97	295	325
Life Insurance [Member]
Segment Reporting Information [Line Items]
Net premiums written	612	564	1,770	1,688
Net premiums earned	598	551	1,730	1,643
Losses and loss expenses	190	195	581	584
Policy benefits	158	127	515	428
Policy acquisition costs	176	139	454	405
Administrative expenses	80	77	237	235
Underwriting income (loss)	(6)	13	(57)	(9)
Net investment income (loss)	92	85	278	253
Other (income) expense	(10)	20	(57)	24
Amortization of purchased intangibles	1	0	2	1
Segment Income (loss)	95	78	276	219
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Losses and loss expenses	38	13	83	72
Policy benefits	0	0	0	0
Policy acquisition costs	0	0	0	0
Administrative expenses	74	58	211	200
Underwriting income (loss)	(112)	(71)	(294)	(272)
Net investment income (loss)	(28)	(49)	(98)	(162)
Other (income) expense	(34)	(144)	(238)	(275)
Amortization of purchased intangibles	54	64	163	192
Segment Income (loss)	(160)	(40)	(317)	(351)
Net Realized Gains Losses	(155)	19	(475)	35
Interest expense	138	164	418	488
Chubb integration expenses	2	16	9	39
Income tax expense	230	183	626	536
Net income	$ (685)	$ (384)	$ (1,845)	$ (1,379)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 1,091	$ 1,231	$ 3,281	$ 3,607
Weighted-average shares outstanding	454,975,143	462,981,973	456,987,560	464,644,013
Share-based compensation plans	3,175,226	3,034,525	2,937,026	3,360,511
Weighted-average shares outstanding and assumed conversions	458,150,369	466,016,498	459,924,586	468,004,524
Basic earnings per share (US$ per share)	$ 2.40	$ 2.66	$ 7.18	$ 7.76
Diluted earnings per share (US$ per share)	$ 2.38	$ 2.64	$ 7.13	$ 7.71
Potential anti-dilutive share conversions	575,039	3,763,844	3,874,310	3,467,000

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

+ References

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+ Details

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Condensed Balance Sheet Statements, Captions [Line Items]

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

+ References + Details

Information provided in connection with outstanding debt of subsidiaries Information provided in connection with outstanding debt of subsidiaries (Narrative) (Details)	Sep. 30, 2019
Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract]
Equity Method Investment, Ownership Percentage	100.00%

Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Balance Sheet) (Detail) - USD ($)
$ in Millions

Sep. 30, 2019

Dec. 31, 2018

Sep. 30, 2018

Dec. 31, 2017

$ 107,178

$ 100,968

1,478

^[1]

1,247

^[2]

111

93

Reinsurance recoverable on losses and loss expenses

10,403

10,075

15,527

15,993

Operating Lease, Right-of-Use Asset

199

202

577

274

295

21,378

21,414

0

0

18,600

17,484

175,148

167,771

63,012

62,960

$ 63,029

$ 63,179

16,571

15,532

5,738

5,506

0

Operating Lease, Liability

0

^[1]

0

^[2]

617

1,416

1,418

10

509

13,285

12,087

308

20,236

19,139

120,576

117,459

54,572

50,312

$ 50,934

Chubb Limited (Parent Guarantor)

175,148

167,771

Condensed Balance Sheet Statements, Captions [Line Items]

0

2

^[1]

1

^[2]

0

Reinsurance recoverable on losses and loss expenses

0

0

0

0

0

49,471

43,531

6,068

7,074

7

3

55,548

50,609

0

0

0

0

628

^[1]

35

^[2]

0

0

0

0

348

262

976

297

54,572

50,312

Chubb INA Holdings Inc (Subsidiary Issuer)

55,548

50,609

Condensed Balance Sheet Statements, Captions [Line Items]

227

214

0

^[1]

2

^[2]

0

Reinsurance recoverable on losses and loss expenses

0

0

0

0

0

53,381

50,209

0

486

1,007

54,094

51,432

0

0

0

5,953

7,672

602

^[1]

617

^[2]

0

0

500

13,285

12,086

308

1,814

2,545

21,962

23,728

32,132

27,704

Other Chubb Limited Subsidiaries

54,094

51,432

Condensed Balance Sheet Statements, Captions [Line Items]

106,951

100,754

2,706

^[1]

1,896

^[2]

111

93

Reinsurance recoverable on losses and loss expenses

12,519

11,861

25,284

26,422

293

306

274

295

21,378

21,414

0

0

598

20,011

18,102

189,527

181,741

72,389

72,857

17,767

16,611

5,832

5,610

115

0

0

^[1]

0

^[2]

1,416

1,418

10

9

0

1

0

21,278

19,199

118,807

115,705

70,720

66,036

Consolidating Adjustments and Eliminations

189,527

181,741

Condensed Balance Sheet Statements, Captions [Line Items]

0

(1,230)

^[1]

(652)

^[2]

0

Reinsurance recoverable on losses and loss expenses

(2,116)

(1,786)

(9,757)

(10,429)

(94)

(104)

0

0

(102,852)

(93,740)

(6,068)

(7,672)

(1,904)

(1,628)

(124,021)

(116,011)

(9,377)

(9,897)

(1,196)

(1,079)

(94)

(104)

(6,068)

(7,672)

(1,230)

^[1]

(652)

^[2]

0

0

0

0

(3,204)

(2,867)

(21,169)

(22,271)

(102,852)

(93,740)

Condensed Cash Flow Statements, Captions [Line Items]

$ (124,021)

$ (116,011)

[1]

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2019, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

[2]

Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement Of Operations) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Statement of Income Captions [Line Items]
Net premiums written	$ 8,622	$ 8,110	$ 24,278	$ 23,229
Net premiums earned	8,327	7,908	23,355	22,599
Net investment income	873	823	2,568	2,457
Equity In Earnings Of Subsidiaries	0	0	0	0
Net Realized Gains Losses	(155)	19	(475)	35
Losses and loss expenses	5,052	4,868	13,865	13,457
Policy benefits	158	127	515	428
Policy acquisition costs and administrative expenses	2,355	2,223	6,831	6,590
Interest (income) expense	138	164	418	488
Other (income) expense	(57)	(145)	(326)	(307)
Amortization of purchased intangibles	76	83	229	253
Chubb integration expenses	2	16	9	39
Income tax expense	230	183	626	536
Net income	1,091	1,231	3,281	3,607
Comprehensive income (loss)	1,473	592	6,250	1,322
Chubb Limited (Parent Guarantor)
Condensed Statement of Income Captions [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Net investment income	1	2	3	5
Equity In Earnings Of Subsidiaries	1,053	1,177	3,147	3,440
Net Realized Gains Losses	(4)	(1)	1	(1)
Losses and loss expenses	0	0	0	0
Policy benefits	0	0	0	0
Policy acquisition costs and administrative expenses	22	23	64	64
Interest (income) expense	(59)	(75)	(187)	(231)
Other (income) expense	(7)	(9)	(19)	(18)
Amortization of purchased intangibles	0	0	0	0
Chubb integration expenses	0	3	0	7
Income tax expense	3	5	12	15
Net income	1,091	1,231	3,281	3,607
Comprehensive income (loss)	1,473	592	6,250	1,322
Chubb INA Holdings Inc (Subsidiary Issuer)
Condensed Statement of Income Captions [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Net investment income	(3)	3	(13)	12
Equity In Earnings Of Subsidiaries	824	709	2,345	2,048
Net Realized Gains Losses	68	18	34	67
Losses and loss expenses	0	0	0	0
Policy benefits	0	0	0	0
Policy acquisition costs and administrative expenses	(5)	(90)	(25)	(49)
Interest (income) expense	171	203	536	616
Other (income) expense	(3)	12	1	28
Amortization of purchased intangibles	0	0	0	0
Chubb integration expenses	0	1	2	2
Income tax expense	(33)	(24)	(120)	(119)
Net income	759	628	1,972	1,649
Comprehensive income (loss)	1,138	47	4,476	(199)
Other Chubb Limited Subsidiaries
Condensed Statement of Income Captions [Line Items]
Net premiums written	8,622	8,110	24,278	23,229
Net premiums earned	8,327	7,908	23,355	22,599
Net investment income	875	818	2,578	2,440
Equity In Earnings Of Subsidiaries	0	0	0	0
Net Realized Gains Losses	(219)	2	(510)	(31)
Losses and loss expenses	5,052	4,868	13,865	13,457
Policy benefits	158	127	515	428
Policy acquisition costs and administrative expenses	2,338	2,290	6,792	6,575
Interest (income) expense	26	36	69	103
Other (income) expense	(47)	(148)	(308)	(317)
Amortization of purchased intangibles	76	83	229	253
Chubb integration expenses	2	12	7	30
Income tax expense	260	202	734	640
Net income	1,118	1,258	3,520	3,839
Comprehensive income (loss)	1,517	640	6,486	1,606
Consolidating Adjustments and Eliminations
Condensed Statement of Income Captions [Line Items]
Net premiums written	0	0	0	0
Net premiums earned	0	0	0	0
Net investment income	0	0	0	0
Equity In Earnings Of Subsidiaries	(1,877)	(1,886)	(5,492)	(5,488)
Net Realized Gains Losses	0	0	0	0
Losses and loss expenses	0	0	0	0
Policy benefits	0	0	0	0
Policy acquisition costs and administrative expenses	0	0	0	0
Interest (income) expense	0	0	0	0
Other (income) expense	0	0	0	0
Amortization of purchased intangibles	0	0	0	0
Chubb integration expenses	0	0	0	0
Income tax expense	0	0	0	0
Net income	(1,877)	(1,886)	(5,492)	(5,488)
Comprehensive income (loss)	$ (2,655)	$ (687)	$ (10,962)	$ (1,407)

Information Provided In Connection With Outstanding Debt Of Subsidiaries (Condensed Consolidating Statement Of Cash Flows) (Detail) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Net Cash Provided by (Used in) Operating Activities

$ 4,913

$ 3,897

(19,778)

(16,788)

(143)

(380)

(466)

(148)

Proceeds From Sale Of Available For Sale Securities Debt Condensed

10,430

9,041

10,436

Maturities and redemptions of fixed maturities available for sale

577

247

6,390

5,482

Maturities and redemptions of fixed maturities held to maturity

814

1,001

202

64

(647)

(46)

(1,093)

(1,112)

973

743

0

(826)

(231)

(3,561)

(2,127)

(1,014)

(1,001)

(1,203)

(732)

1,286

2,171

(501)

(2,001)

2,394

1,572

(2,396)

(1,566)

155

86

0

0

Net proceeds from (payments to) affiliated notional cash pooling program

0

0

^[1]

0

^[2]

376

269

(221)

(222)

Effect of foreign currency rate changes on cash and restricted cash

(1,124)

(1,424)

21

(40)

Net Increase (Decrease) in cash and restricted cash

249

306

1,340

^[1]

851

^[2]

Chubb Limited (Parent Guarantor)

1,589

^[1]

1,157

^[2]

Condensed Cash Flow Statements, Captions [Line Items]

Net Cash Provided by (Used in) Operating Activities

421

237

0

0

0

Proceeds From Sale Of Available For Sale Securities Debt Condensed

0

0

Maturities and redemptions of fixed maturities available for sale

0

0

Maturities and redemptions of fixed maturities held to maturity

0

0

0

0

0

(1,000)

(1,125)

0

(1,000)

(1,125)

(1,014)

(1,001)

0

0

0

0

0

0

0

996

1,722

Net proceeds from (payments to) affiliated notional cash pooling program

0

593

^[1]

165

^[2]

0

0

Effect of foreign currency rate changes on cash and restricted cash

575

886

5

(1)

Net Increase (Decrease) in cash and restricted cash

1

(3)

1

^[1]

3

^[2]

Chubb INA Holdings Inc (Subsidiary Issuer)

2

^[1]

0

^[2]

Condensed Cash Flow Statements, Captions [Line Items]

Net Cash Provided by (Used in) Operating Activities

1,118

4,701

(16)

(30)

0

0

Proceeds From Sale Of Available For Sale Securities Debt Condensed

6

1

Maturities and redemptions of fixed maturities available for sale

0

18

15

Maturities and redemptions of fixed maturities held to maturity

0

(5)

6

(55)

(7)

0

0

(110)

(3,500)

(10)

(18)

(177)

(3,528)

0

0

1,286

2,171

(500)

(2,000)

0

0

0

0

(1,715)

(1,310)

Net proceeds from (payments to) affiliated notional cash pooling program

0

(15)

^[1]

(34)

^[2]

0

0

Effect of foreign currency rate changes on cash and restricted cash

(944)

(1,173)

1

0

Net Increase (Decrease) in cash and restricted cash

(2)

0

2

^[1]

1

^[2]

Other Chubb Limited Subsidiaries

0

^[1]

1

^[2]

Condensed Cash Flow Statements, Captions [Line Items]

Net Cash Provided by (Used in) Operating Activities

5,234

3,797

(19,762)

(16,758)

(143)

(380)

(466)

(148)

Proceeds From Sale Of Available For Sale Securities Debt Condensed

9,035

10,435

Maturities and redemptions of fixed maturities available for sale

577

247

6,372

5,467

Maturities and redemptions of fixed maturities held to maturity

814

1,001

207

58

(592)

(39)

(1,093)

(1,112)

973

743

0

(816)

(213)

(3,494)

(2,099)

0

(1,203)

(732)

0

(1)

2,394

1,572

(2,396)

(1,566)

155

86

(1,860)

(4,838)

719

(412)

Net proceeds from (payments to) affiliated notional cash pooling program

1,110

4,625

0

^[1]

0

^[2]

376

269

(221)

(222)

Effect of foreign currency rate changes on cash and restricted cash

(927)

(1,219)

15

(39)

Net Increase (Decrease) in cash and restricted cash

828

440

1,989

^[1]

962

^[2]

Consolidation, Eliminations [Member]

2,817

^[1]

1,402

^[2]

Condensed Cash Flow Statements, Captions [Line Items]

Net Cash Provided by (Used in) Operating Activities

(1,860)

(4,838)

0

0

0

Proceeds From Sale Of Available For Sale Securities Debt Condensed

0

0

Maturities and redemptions of fixed maturities available for sale

0

0

Maturities and redemptions of fixed maturities held to maturity

0

0

0

0

0

1,110

4,625

0

1,110

4,625

0

0

0

0

0

0

0

1,860

4,838

0

Net proceeds from (payments to) affiliated notional cash pooling program

(1,110)

(4,625)

(578)

^[1]

(131)

^[2]

0

0

Effect of foreign currency rate changes on cash and restricted cash

172

82

0

Net Increase (Decrease) in cash and restricted cash

(578)

(131)

(652)

^[1]

(115)

^[2]