Segment information (Tables)

6 Months Ended

Jun. 30, 2026

The following tables present the Statement of Operations by segment:


For the Three Months Ended June 30, 2026 (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		Total
Net premiums written	$	5,594	$	2,054	$	776	$	3,990	$	354	$	1,937	$	14,705
Net premiums earned	5,214		1,817		641		3,984		299		1,934		13,889
Losses and loss expenses	3,372		791		526		1,709		121		22
Policy benefits	—		—		—		106		—		1,374
Policy acquisition costs	730		347		45		1,060		98		352
Administrative expenses	351		86		4		399		8		213
Underwriting income	761		593		66		710		72		NM
Net investment income	982		140		21		313		110		323
Other (income) expense	15		3		2		6		—		(45)
Amortization of purchased intangibles	1		2		6		22		—		9
Segment income	$	1,727	$	728	$	79	$	995	$	182	$	332	$	4,043
Net realized gains (losses)													162
Market risk benefits gains (losses)													5
Interest expense													200
Integration expenses and severance													8
Corporate underwriting loss													(265)
Corporate net investment loss													(10)
Corporate other (income) expense													5
Corporate amortization of purchased intangibles													34
Other reclassification													(64)
Income before income tax													$	3,624

NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.


For the Three Months Ended June 30, 2025 (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		Total
Net premiums written	$	5,723	$	1,938	$	733	$	3,620	$	380	$	1,802	$	14,196
Net premiums earned	5,177		1,681		598		3,542		338		1,789		13,125
Losses and loss expenses	3,258		822		483		1,789		132		20
Policy benefits	—		—		—		129		—		1,249
Policy acquisition costs	705		332		48		913		98		319
Administrative expenses	357		82		2		369		10		199
Underwriting income	857		445		65		342		98		NM
Net investment income	938		118		19		278		85		274
Other (income) expense	8		—		—		5		—		(37)
Amortization of purchased intangibles	2		2		6		19		—		8
Segment income	$	1,785	$	561	$	78	$	596	$	183	$	305	$	3,508
Net realized gains (losses)													160
Market risk benefits gains (losses)													(17)
Interest expense													181
Integration expenses and severance													2
Corporate underwriting loss													(176)
Corporate net investment loss													(29)
Corporate other (income) expense													(528)
Corporate amortization of purchased intangibles													37
Other reclassification													(38)
Income before income tax													$	3,716

NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.


For the Six Months Ended June 30, 2026 (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		Total
Net premiums written	$	10,489	$	3,735	$	1,087	$	8,456	$	717	$	4,226	$	28,710
Net premiums earned	10,362		3,563		830		7,764		625		4,202		27,346
Losses and loss expenses	6,592		1,825		579		3,361		258		50
Policy benefits	—		—		—		219		—		3,074
Policy acquisition costs	1,482		694		69		2,069		200		714
Administrative expenses	705		171		(2)		786		17		423
Underwriting income	1,583		873		184		1,329		150		NM
Net investment income	1,953		277		47		613		218		628
Other (income) expense	29		6		2		12		—		(96)
Amortization of purchased intangibles	2		4		12		44		—		17
Segment income	$	3,505	$	1,140	$	217	$	1,886	$	368	$	648	$	7,764
Net realized gains (losses)													(245)
Market risk benefits gains (losses)													19
Interest expense													398
Integration expenses and severance													17
Corporate underwriting loss													(390)
Corporate net investment loss													(21)
Corporate other (income) expense													(13)
Corporate amortization of purchased intangibles													68
Other reclassification													(40)
Income before income tax													$	6,617

NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.


For the Six Months Ended June 30, 2025 (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		Total
Net premiums written	$	10,510	$	3,490	$	1,009	$	7,523	$	788	$	3,522	$	26,842
Net premiums earned	10,165		3,255		763		6,751		706		3,485		25,125
Losses and loss expenses	6,289		2,915		575		3,186		374		46
Policy benefits	—		—		—		242		—		2,412
Policy acquisition costs	1,424		662		65		1,750		198		629
Administrative expenses	701		169		4		699		20		401
Underwriting income (loss)	1,751		(491)		119		874		114		NM
Net investment income	1,867		238		43		559		155		545
Other (income) expense	16		1		1		11		—		(72)
Amortization of purchased intangibles	3		4		12		38		—		18
Segment income (loss)	$	3,599	$	(258)	$	149	$	1,384	$	269	$	596	$	5,739
Net realized gains (losses)													44
Market risk benefits gains (losses)													(109)
Interest expense													362
Integration expenses and severance													2
Corporate underwriting loss													(295)
Corporate net investment loss													(56)
Corporate other (income) expense													(495)
Corporate amortization of purchased intangibles													74

Income before income tax													$	5,380

NM – not meaningful. Underwriting income is not used as a basis for segment performance for the Life Insurance segment.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details