Chubb Ltd

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

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FY2023 · Filed Feb 23, 2024

CB$365.02-1.8%Stored close · as of Nov 6, 2026

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Contents

Deferred acquisition costs

Deferred acquisition costs

Deferred acquisition costs comprise capitalized costs on short-duration contracts of $3,346 million, $2,877 million, and $2,718 million; and long-duration contracts of $3,806 million, $3,154 million, and $2,970 million at December 31, 2023, 2022, and 2021, respectively.

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

	Year Ended December 31, 2023
(in millions of U.S. dollars) · Term Life · Universal Life · Whole Life · A&H · Other · Total
Balance – beginning of period	$324	$639	$392	$891		$268	$2,514
Capitalizations	176	129	159	564		36	1,064
Amortization expense	(100)	(80)	(23)	(137)		(29)	(369)
Other (including foreign exchange)	2	(14)	6	(17)		(1)	(24)
Balance – end of period	$402	$674	$534	$1,301		$274	$3,185
Overseas General Insurance segment excluded from table					621
Total deferred acquisition costs on long-duration contracts					$3,806

	Year Ended December 31, 2022
(in millions of U.S. dollars) · Term Life · Universal Life · Whole Life · A&H · Other · Total
Balance – beginning of period	$250	$631	$330	$730		$263	$2,204
Capitalizations	147	118	86	268		48	667
Amortization expense	(81)	(64)	(18)	(93)		(31)	(287)
Other (including foreign exchange)	8	(46)	(6)	(14)		(12)	(70)
Balance – end of period	$324	$639	$392	$891		$268	$2,514
Overseas General Insurance segment excluded from table					640
Total deferred acquisition costs on long-duration contracts					$3,154

	Year Ended December 31, 2021
(in millions of U.S. dollars) · Term Life · Universal Life · Whole Life · A&H · Other · Total
Balance – beginning of period	$125	$557	$299	$733		$220	$1,934
Capitalizations	178	143	52	98		71	542
Amortization expense	(47)	(61)	(18)	(98)		(26)	(250)
Other (including foreign exchange)	(6)	(8)	(3)	(3)		(2)	(22)
Balance – end of period	$250	$631	$330	$730		$263	$2,204
Overseas General Insurance segment excluded from table					766
Total deferred acquisition costs on long-duration contracts					$2,970

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.