Chubb Ltd

Interest expense was $672 million, $570 million, and $492 million for the years ended December 31, 2023, 2022, and 2021, respectively. Interest expense increased in 2023 primarily from rising interest rates on held collateral and repurchase agreements, partially offset by the maturity of $1 billion senior notes in November 2022 and $475 million senior notes in March 2023. Pre-tax interest expense is expected to total $690 million for 2024 based on our debt obligations as of December 31, 2023, at current foreign exchange rates, fees from expected usage of certain facilities including letters of credit, and interest on held collateral and repurchase agreements. Refer to Note 13 to the Consolidated Financial Statements, under Item 8, for more information.