Chubb Ltd
For the period ended Sep 30, 2026. Filed Oct 28, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 28, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Policyholders' account balances, Separate accounts, and Unearned revenue liabilities
- Policyholders' account balances, Separate accounts, and Unearned revenue liabilities
Policyholders' account balances
The following tables present a roll-forward of policyholders' account balances:
| Nine Months Ended September 30, 2026 | ||||
|---|---|---|---|---|
| (in millions of U.S. dollars) | Universal Life | Annuities (3) | Other investment contracts (4) | Total |
| Balance – beginning of period | $1,899 | $2,801 | $2,531 | $7,231 |
| Premiums received | 157 | 200 | 751 | 1,108 |
| Policy charges | (66) | — | (7) | (73) |
| Surrenders and withdrawals | (104) | (23) | (142) | (269) |
| Benefit payments (1) | (156) | (146) | (41) | (343) |
| Interest credited | 37 | 45 | 61 | 143 |
| Other (including foreign exchange) | 90 | 144 | 10 | 244 |
| Balance – end of period | $1,857 | $3,021 | $3,163 | $8,041 |
| Unearned revenue liability | 794 | |||
| Other (2) | 610 | |||
| Policyholders' account liability, per consolidated balance sheet | $9,445 | |||
(1)Includes payments for survival and death benefits.
(2)Primarily comprises unpaid dividends on certain participating policies.
(3)Relates to Huatai Life.
(4)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
| Nine Months Ended September 30, 2025 | ||||
|---|---|---|---|---|
| (in millions of U.S. dollars) | Universal Life | Annuities (3) | Other investment contracts (4) | Total |
| Balance – beginning of period | $1,809 | $2,585 | $2,354 | $6,748 |
| Premiums received | 158 | 232 | 316 | 706 |
| Policy charges | (81) | — | (7) | (88) |
| Surrenders and withdrawals | (91) | (24) | (143) | (258) |
| Benefit payments (1) | (24) | (116) | (66) | (206) |
| Interest credited | 35 | 36 | 59 | 130 |
| Other (including foreign exchange) | 77 | 49 | 43 | 169 |
| Balance – end of period | $1,883 | $2,762 | $2,556 | $7,201 |
| Unearned revenue liability | 760 | |||
| Other (2) | 578 | |||
| Policyholders' account liability, per consolidated balance sheet | $8,539 | |||
(1)Includes payments for survival and death benefits.
(2)Primarily comprises unpaid dividends on certain participating policies.
(3)Relates to Huatai Life.
(4)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.
| September 30 | ||||||
|---|---|---|---|---|---|---|
| 2026 | 2025 | |||||
| (in millions of U.S. dollars, except for percentages) | Universal Life | Annuities (3) | Other | Universal Life | Annuities (3) | Other |
| Weighted-average crediting rate (1) | 3.6% | N/A | 3.4% | 3.5% | N/A | 3.2% |
| Net amount at risk (2) | $10,568 | $93 | $385 | $11,474 | $30 | $366 |
| Cash Surrender Value | $1,740 | $2,036 | $2,820 | $1,747 | $1,827 | $2,264 |
(1)Calculated using actual interest credited for the nine months ended September 30, 2026 and 2025, respectively.
(2)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.
(3)Annuities do not have an explicit account balance, therefore a crediting rate is not applicable.
The following tables present the balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimum:
Universal Life
| September 30, 2026 | ||||||
|---|---|---|---|---|---|---|
| (in millions of U.S. dollars) · At Guaranteed Minimum · 1 Basis Point - 50 Basis Points Above · 51 Basis Points - 150 Basis Points Above · Greater Than 150 Basis Points Above · Total | ||||||
| Guaranteed minimum crediting rates | ||||||
| Up to 2.00% | $— | $13 | $43 | $267 | $323 | |
| 2.01% – 4.00% | 391 | 161 | 151 | 316 | 1,019 | |
| Greater than 4.00% | 20 | — | — | — | 20 | |
| Fixed rate or no guarantee | 495 | |||||
| Total | $411 | $174 | $194 | $583 | $1,857 | |
| September 30, 2025 | ||||||
|---|---|---|---|---|---|---|
| (in millions of U.S. dollars) · At Guaranteed Minimum · 1 Basis Point - 50 Basis Points Above · 51 Basis Points - 150 Basis Points Above · Greater Than 150 Basis Points Above · Total | ||||||
| Guaranteed minimum crediting rates | ||||||
| Up to 2.00% | $— | $— | $51 | $168 | $219 | |
| 2.01% – 4.00% | 489 | 317 | 354 | — | 1,160 | |
| Greater than 4.00% | 15 | — | — | — | 15 | |
| Fixed rate or no guarantee | 489 | |||||
| Total | $504 | $317 | $405 | $168 | $1,883 | |
Other policyholders' account balances
| September 30, 2026 | ||||||
|---|---|---|---|---|---|---|
| (in millions of U.S. dollars) · At Guaranteed Minimum · 1 Basis Point - 50 Basis Points Above · 51 Basis Points - 150 Basis Points Above · Greater Than 150 Basis Points Above · Total | ||||||
| Guaranteed minimum crediting rates | ||||||
| Up to 2.00% | $2 | $2 | $84 | $94 | $182 | |
| 2.01% – 4.00% | 987 | — | 271 | — | 1,258 | |
| Greater than 4.00% | — | — | — | — | — | |
| Fixed rate or no guarantee | 1,723 | |||||
| Total | $989 | $2 | $355 | $94 | $3,163 | |
| September 30, 2025 | ||||||
|---|---|---|---|---|---|---|
| (in millions of U.S. dollars) · At Guaranteed Minimum · 1 Basis Point - 50 Basis Points Above · 51 Basis Points - 150 Basis Points Above · Greater Than 150 Basis Points Above · Total | ||||||
| Guaranteed minimum crediting rates | ||||||
| Up to 2.00% | $3 | $6 | $129 | $34 | $172 | |
| 2.01% – 4.00% | 1,079 | 52 | — | — | 1,131 | |
| Greater than 4.00% | — | — | — | — | — | |
| Fixed rate or no guarantee | 1,253 | |||||
| Total | $1,082 | $58 | $129 | $34 | $2,556 | |
Separate accounts
Separate account assets represent segregated funds where investment risks are borne by the customers, except to the extent of certain guarantees made by Chubb. The assets that support variable contracts are measured at fair value and are reported as Separate account assets and corresponding liabilities are reported within Separate account liabilities on the Consolidated balance sheets. Policy charges assessed against the policyholders for mortality, administration, and other services are included in Net premiums earned on the Consolidated statements of operations.
The following table presents the aggregate fair value of Separate account assets, by major security type:
| September 30 | September 30 | |
|---|---|---|
| (in millions of U.S. dollars) | 2026 | 2025 |
| Cash and cash equivalents | $133 | $103 |
| Mutual funds | 7,134 | 6,631 |
| Fixed maturities | 73 | 76 |
| Total | $7,340 | $6,810 |
The following table presents a roll-forward of separate account liabilities:
| Nine Months Ended | ||
|---|---|---|
| September 30 | ||
| (in millions of U.S. dollars) | 2026 | 2025 |
| Balance – beginning of period | $6,925 | $6,231 |
| Premiums and deposits | 1,214 | 1,081 |
| Policy charges | (136) | (122) |
| Surrenders and withdrawals | (988) | (745) |
| Benefit payments | (384) | (345) |
| Investment performance | 635 | 320 |
| Other (including foreign exchange) | 74 | 390 |
| Balance – end of period | $7,340 | $6,810 |
| Cash surrender value (1) | $6,840 | $6,327 |
(1)Cash surrender value represents the amount of the policyholder's account balances distributable at the balance sheet date less certain surrender charges.
Unearned revenue liabilities
Unearned revenue liabilities represent policy charges for services to be provided in future periods. The charges are reflected as deferred revenue and are generally amortized into income over the expected life of the contract using the same methodology, factors, and assumptions used to amortize deferred acquisition costs. Unearned revenue liabilities pertaining to both policyholders' account balances and separate accounts are recorded in Policyholders' account balances in the Consolidated balance sheets. The following table presents a roll-forward of unearned revenue liabilities:
| Nine Months Ended | ||
|---|---|---|
| September 30 | ||
| (in millions of U.S. dollars) | 2026 | 2025 |
| Balance – beginning of period | $758 | $711 |
| Deferred revenue | 91 | 101 |
| Amortization | (61) | (58) |
| Other (including foreign exchange) | 6 | 6 |
| Balance – end of period | $794 | $760 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.