Chubb Ltd
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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Sep 30, 2024 · Filed Oct 30, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Reinsurance
- Reinsurance
Reinsurance recoverable on ceded reinsurance
| September 30, 2024 | December 31, 2023 | |||
|---|---|---|---|---|
| (in millions of U.S. dollars) | Net Reinsurance Recoverable (1) | Valuation allowance | Net Reinsurance Recoverable (1) | Valuation allowance |
| Reinsurance recoverable on unpaid losses and loss expenses | $17,631 | $307 | $17,884 | $285 |
| Reinsurance recoverable on paid losses and loss expenses | 1,975 | 81 | 2,068 | 82 |
| Reinsurance recoverable on losses and loss expenses | $19,606 | $388 | $19,952 | $367 |
| Reinsurance recoverable on policy benefits | $292 | $— | $280 | $— |
The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on losses and loss expenses:
| Nine Months Ended | ||
|---|---|---|
| September 30 | ||
| (in millions of U.S. dollars) | 2024 | 2023 |
| Valuation allowance for uncollectible reinsurance - beginning of period | $367 | $351 |
| Provision for uncollectible reinsurance | 24 | 27 |
| Write-offs charged against the valuation allowance | (4) | (8) |
| Foreign exchange revaluation | 1 | — |
| Valuation allowance for uncollectible reinsurance - end of period | $388 | $370 |
For additional information, refer to Note 1 e) to the Consolidated Financial Statements of our 2023 Form 10-K.
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