false2026Q10000896159December 31http://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#OtherComprehensiveIncomeLossBeforeTaxhttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#Revenueshttp://fasb.org/us-gaap/2025#OtherAssetshttp://fasb.org/us-gaap/2025#OtherAssetshttp://fasb.org/us-gaap/2025#OtherLiabilitieshttp://fasb.org/us-gaap/2025#OtherLiabilitiesiso4217:CHFxbrli:sharesxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureiso4217:CHFiso4217:EUR00008961592026-01-012026-03-310000896159us-gaap:CommonClassAMember2026-01-012026-03-310000896159cb:INASeniorNotesDueJune2027Member2026-01-012026-03-310000896159cb:INASeniorNotesDueMarch2028Member2026-01-012026-03-310000896159cb:INASeniorNotesDueDecember2029Member2026-01-012026-03-310000896159cb:INASeniorNotesDueJune2031Member2026-01-012026-03-310000896159cb:INASeniorNotesDueMarch2038Member2026-01-012026-03-3100008961592026-03-3100008961592026-04-2100008961592025-12-310000896159us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2026-03-310000896159us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2025-12-3100008961592025-01-012025-03-310000896159us-gaap:CommonStockMember2025-12-310000896159us-gaap:CommonStockMember2024-12-310000896159us-gaap:CommonStockMember2026-01-012026-03-310000896159us-gaap:CommonStockMember2025-01-012025-03-310000896159us-gaap:CommonStockMember2026-03-310000896159us-gaap:CommonStockMember2025-03-310000896159us-gaap:TreasuryStockCommonMember2025-12-310000896159us-gaap:TreasuryStockCommonMember2024-12-310000896159us-gaap:TreasuryStockCommonMember2026-01-012026-03-310000896159us-gaap:TreasuryStockCommonMember2025-01-012025-03-310000896159us-gaap:TreasuryStockCommonMember2026-03-310000896159us-gaap:TreasuryStockCommonMember2025-03-310000896159us-gaap:AdditionalPaidInCapitalMember2025-12-310000896159us-gaap:AdditionalPaidInCapitalMember2024-12-310000896159us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310000896159us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310000896159us-gaap:AdditionalPaidInCapitalMember2026-03-310000896159us-gaap:AdditionalPaidInCapitalMember2025-03-310000896159us-gaap:RetainedEarningsMember2025-12-310000896159us-gaap:RetainedEarningsMember2024-12-310000896159us-gaap:RetainedEarningsMember2026-01-012026-03-310000896159us-gaap:RetainedEarningsMember2025-01-012025-03-310000896159us-gaap:RetainedEarningsMember2026-03-310000896159us-gaap:RetainedEarningsMember2025-03-310000896159us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310000896159us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310000896159us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310000896159us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310000896159us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310000896159us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310000896159us-gaap:ParentMember2026-03-310000896159us-gaap:ParentMember2025-03-310000896159us-gaap:NoncontrollingInterestMember2025-12-310000896159us-gaap:NoncontrollingInterestMember2024-12-310000896159us-gaap:NoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:NoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:NoncontrollingInterestMember2026-03-310000896159us-gaap:NoncontrollingInterestMember2025-03-3100008961592025-03-3100008961592024-12-310000896159cb:LibertyInsuranceVietnamMember2026-01-012026-03-310000896159us-gaap:USTreasuryAndGovernmentMember2026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMember2026-03-310000896159us-gaap:CorporateDebtSecuritiesMember2026-03-310000896159us-gaap:MortgageBackedSecuritiesMember2026-03-310000896159us-gaap:USTreasuryAndGovernmentMember2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMember2025-12-310000896159us-gaap:CorporateDebtSecuritiesMember2025-12-310000896159us-gaap:MortgageBackedSecuritiesMember2025-12-310000896159us-gaap:InvestmentsMember2026-03-310000896159us-gaap:FixedMaturitiesMember2026-01-012026-03-310000896159us-gaap:FixedMaturitiesMember2025-01-012025-03-310000896159cb:OtherInvestmentsFixedMaturitiesMember2026-01-012026-03-310000896159cb:OtherInvestmentsFixedMaturitiesMember2025-01-012025-03-310000896159us-gaap:OtherInvestmentsMember2026-01-012026-03-310000896159us-gaap:OtherInvestmentsMember2025-01-012025-03-310000896159cb:ReservedAlternativeInvestmentFundMember2026-01-012026-03-310000896159cb:ReservedAlternativeInvestmentFundMember2025-01-012025-03-310000896159us-gaap:EquitySecuritiesMember2026-01-012026-03-310000896159us-gaap:EquitySecuritiesMember2025-01-012025-03-310000896159cb:AlternativeInvestmentMember2026-01-012026-03-310000896159cb:AlternativeInvestmentMember2025-01-012025-03-310000896159us-gaap:ForeignExchangeContractMember2026-01-012026-03-310000896159us-gaap:ForeignExchangeContractMember2025-01-012025-03-310000896159us-gaap:OtherContractMember2026-01-012026-03-310000896159us-gaap:OtherContractMember2025-01-012025-03-310000896159cb:EquitySecuritiesPrivateEquitiesAndOtherInvestmentsMember2026-01-012026-03-310000896159cb:EquitySecuritiesPrivateEquitiesAndOtherInvestmentsMember2025-01-012025-03-310000896159srt:MinimumMembercb:FinancialMember2025-01-012025-12-310000896159srt:MinimumMembercb:FinancialMember2026-01-012026-03-310000896159srt:MaximumMembercb:FinancialMember2026-01-012026-03-310000896159srt:MaximumMembercb:FinancialMember2025-01-012025-12-310000896159cb:FinancialMember2026-03-310000896159cb:FinancialMember2025-12-310000896159srt:MinimumMemberus-gaap:RealEstateFundsMember2025-01-012025-12-310000896159srt:MinimumMemberus-gaap:RealEstateFundsMember2026-01-012026-03-310000896159srt:MaximumMemberus-gaap:RealEstateFundsMember2026-01-012026-03-310000896159srt:MaximumMemberus-gaap:RealEstateFundsMember2025-01-012025-12-310000896159us-gaap:RealEstateFundsMember2026-03-310000896159us-gaap:RealEstateFundsMember2025-12-310000896159srt:MinimumMembercb:DistressedAlternativeInvestmentsMember2026-01-012026-03-310000896159srt:MinimumMembercb:DistressedAlternativeInvestmentsMember2025-01-012025-12-310000896159srt:MaximumMembercb:DistressedAlternativeInvestmentsMember2026-01-012026-03-310000896159srt:MaximumMembercb:DistressedAlternativeInvestmentsMember2025-01-012025-12-310000896159cb:DistressedAlternativeInvestmentsMember2026-03-310000896159cb:DistressedAlternativeInvestmentsMember2025-12-310000896159srt:MinimumMembercb:PrivateCreditAlternativeInvestmentsMember2026-01-012026-03-310000896159srt:MinimumMembercb:PrivateCreditAlternativeInvestmentsMember2025-01-012025-12-310000896159srt:MaximumMembercb:PrivateCreditAlternativeInvestmentsMember2025-01-012025-12-310000896159srt:MaximumMembercb:PrivateCreditAlternativeInvestmentsMember2026-01-012026-03-310000896159cb:PrivateCreditAlternativeInvestmentsMember2026-03-310000896159cb:PrivateCreditAlternativeInvestmentsMember2025-12-310000896159srt:MinimumMemberus-gaap:PrivateEquityFundsMember2026-01-012026-03-310000896159srt:MinimumMemberus-gaap:PrivateEquityFundsMember2025-01-012025-12-310000896159srt:MaximumMemberus-gaap:PrivateEquityFundsMember2025-01-012025-12-310000896159srt:MaximumMemberus-gaap:PrivateEquityFundsMember2026-01-012026-03-310000896159us-gaap:PrivateEquityFundsMember2026-03-310000896159us-gaap:PrivateEquityFundsMember2025-12-310000896159srt:MinimumMembercb:VintageAlternativeInvestmentsMember2025-01-012025-12-310000896159srt:MinimumMembercb:VintageAlternativeInvestmentsMember2026-01-012026-03-310000896159srt:MaximumMembercb:VintageAlternativeInvestmentsMember2025-01-012025-12-310000896159srt:MaximumMembercb:VintageAlternativeInvestmentsMember2026-01-012026-03-310000896159cb:VintageAlternativeInvestmentsMember2026-03-310000896159cb:VintageAlternativeInvestmentsMember2025-12-310000896159cb:InvestmentFundsAlternativeInvestmentsMember2026-03-310000896159cb:InvestmentFundsAlternativeInvestmentsMember2025-12-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMember2026-03-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMember2025-12-310000896159cb:ReservedAlternativeInvestmentFundMember2026-03-310000896159cb:ReservedAlternativeInvestmentFundMember2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2026-03-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-03-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-03-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2026-03-310000896159cb:ReservedAlternativeInvestmentFundMember2026-03-310000896159us-gaap:OtherInvestmentsMember2026-03-310000896159cb:InvestmentFundsLimitedPartnershipsPartiallyOwnedInvestmentCompaniesFairValueMember2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2025-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2025-12-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel12And3Member2025-12-310000896159cb:ReservedAlternativeInvestmentFundMember2025-12-310000896159us-gaap:OtherInvestmentsMember2025-12-310000896159cb:InvestmentFundsLimitedPartnershipsPartiallyOwnedInvestmentCompaniesFairValueMember2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-12-310000896159us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2026-01-012026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2026-01-012026-03-310000896159us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2026-01-012026-03-310000896159us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2026-01-012026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2026-03-310000896159us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2024-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2024-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2024-12-310000896159us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-12-310000896159us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2024-12-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-01-012025-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-01-012025-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-01-012025-03-310000896159us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2025-01-012025-03-310000896159us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2025-01-012025-03-310000896159us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:AvailableforsaleSecuritiesMember2025-03-310000896159us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Member2025-03-310000896159us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Member2025-03-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2026-03-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2026-03-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2026-03-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel12And3Member2026-03-310000896159us-gaap:CarryingReportedAmountFairValueDisclosureMember2026-03-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2025-12-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2025-12-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2025-12-310000896159us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel12And3Member2025-12-310000896159us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-12-310000896159us-gaap:TermLifeInsuranceMembercb:SegmentLifeMember2025-12-310000896159us-gaap:UniversalLifeMembercb:SegmentLifeMember2025-12-310000896159us-gaap:WholeLifeInsuranceMembercb:SegmentLifeMember2025-12-310000896159us-gaap:AccidentAndHealthInsuranceSegmentMembercb:SegmentLifeMember2025-12-310000896159us-gaap:OtherInsuranceProductLineMembercb:SegmentLifeMember2025-12-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentLifeMember2025-12-310000896159us-gaap:TermLifeInsuranceMembercb:SegmentLifeMember2026-01-012026-03-310000896159us-gaap:UniversalLifeMembercb:SegmentLifeMember2026-01-012026-03-310000896159us-gaap:WholeLifeInsuranceMembercb:SegmentLifeMember2026-01-012026-03-310000896159us-gaap:AccidentAndHealthInsuranceSegmentMembercb:SegmentLifeMember2026-01-012026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:SegmentLifeMember2026-01-012026-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentLifeMember2026-01-012026-03-310000896159us-gaap:TermLifeInsuranceMembercb:SegmentLifeMember2026-03-310000896159us-gaap:UniversalLifeMembercb:SegmentLifeMember2026-03-310000896159us-gaap:WholeLifeInsuranceMembercb:SegmentLifeMember2026-03-310000896159us-gaap:AccidentAndHealthInsuranceSegmentMembercb:SegmentLifeMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:SegmentLifeMember2026-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentLifeMember2026-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentInsuranceOverseasGeneralMember2026-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMember2026-03-310000896159us-gaap:OtherShortdurationInsuranceProductLineMember2026-03-310000896159us-gaap:TermLifeInsuranceMembercb:SegmentLifeMember2024-12-310000896159us-gaap:UniversalLifeMembercb:SegmentLifeMember2024-12-310000896159us-gaap:WholeLifeInsuranceMembercb:SegmentLifeMember2024-12-310000896159us-gaap:AccidentAndHealthInsuranceSegmentMembercb:SegmentLifeMember2024-12-310000896159us-gaap:OtherInsuranceProductLineMembercb:SegmentLifeMember2024-12-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentLifeMember2024-12-310000896159us-gaap:TermLifeInsuranceMembercb:SegmentLifeMember2025-01-012025-03-310000896159us-gaap:UniversalLifeMembercb:SegmentLifeMember2025-01-012025-03-310000896159us-gaap:WholeLifeInsuranceMembercb:SegmentLifeMember2025-01-012025-03-310000896159us-gaap:AccidentAndHealthInsuranceSegmentMembercb:SegmentLifeMember2025-01-012025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:SegmentLifeMember2025-01-012025-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentLifeMember2025-01-012025-03-310000896159us-gaap:TermLifeInsuranceMembercb:SegmentLifeMember2025-03-310000896159us-gaap:UniversalLifeMembercb:SegmentLifeMember2025-03-310000896159us-gaap:WholeLifeInsuranceMembercb:SegmentLifeMember2025-03-310000896159us-gaap:AccidentAndHealthInsuranceSegmentMembercb:SegmentLifeMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:SegmentLifeMember2025-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentLifeMember2025-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMembercb:SegmentInsuranceOverseasGeneralMember2025-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMember2025-03-310000896159us-gaap:OtherShortdurationInsuranceProductLineMember2025-03-310000896159cb:SegmentNorthAmericaCommercialPCInsuranceMember2025-12-310000896159cb:SegmentInsuranceNorthAmericanPersonalPCMember2025-12-310000896159cb:SegmentInsuranceNorthAmericanAgricultureMember2025-12-310000896159cb:SegmentInsuranceOverseasGeneralMember2025-12-310000896159cb:SegmentGlobalReinsuranceMember2025-12-310000896159cb:SegmentLifeMember2025-12-310000896159cb:LMGInsuranceThailandMembercb:SegmentNorthAmericaCommercialPCInsuranceMember2026-01-012026-03-310000896159cb:LMGInsuranceThailandMembercb:SegmentInsuranceNorthAmericanPersonalPCMember2026-01-012026-03-310000896159cb:LMGInsuranceThailandMembercb:SegmentInsuranceNorthAmericanAgricultureMember2026-01-012026-03-310000896159cb:LMGInsuranceThailandMembercb:SegmentInsuranceOverseasGeneralMember2026-01-012026-03-310000896159cb:LMGInsuranceThailandMembercb:SegmentGlobalReinsuranceMember2026-01-012026-03-310000896159cb:LMGInsuranceThailandMembercb:SegmentLifeMember2026-01-012026-03-310000896159cb:LMGInsuranceThailandMember2026-01-012026-03-310000896159cb:SegmentNorthAmericaCommercialPCInsuranceMember2026-01-012026-03-310000896159cb:SegmentInsuranceNorthAmericanPersonalPCMember2026-01-012026-03-310000896159cb:SegmentInsuranceNorthAmericanAgricultureMember2026-01-012026-03-310000896159cb:SegmentInsuranceOverseasGeneralMember2026-01-012026-03-310000896159cb:SegmentGlobalReinsuranceMember2026-01-012026-03-310000896159cb:SegmentLifeMember2026-01-012026-03-310000896159cb:SegmentNorthAmericaCommercialPCInsuranceMember2026-03-310000896159cb:SegmentInsuranceNorthAmericanPersonalPCMember2026-03-310000896159cb:SegmentInsuranceNorthAmericanAgricultureMember2026-03-310000896159cb:SegmentInsuranceOverseasGeneralMember2026-03-310000896159cb:SegmentGlobalReinsuranceMember2026-03-310000896159cb:SegmentLifeMember2026-03-310000896159cb:LongTailMembercb:SegmentNorthAmericaCommercialPCInsuranceMember2026-01-012026-03-310000896159cb:ShortTailMembercb:SegmentNorthAmericaCommercialPCInsuranceMember2026-01-012026-03-310000896159cb:LongTailMembercb:NorthAmericaPersonalPCInsuranceMember2026-01-012026-03-310000896159cb:ShortTailMembercb:NorthAmericaPersonalPCInsuranceMember2026-01-012026-03-310000896159cb:NorthAmericaPersonalPCInsuranceMember2026-01-012026-03-310000896159cb:LongTailMembercb:SegmentInsuranceNorthAmericanAgricultureMember2026-01-012026-03-310000896159cb:ShortTailMembercb:SegmentInsuranceNorthAmericanAgricultureMember2026-01-012026-03-310000896159cb:LongTailMembercb:SegmentInsuranceOverseasGeneralMember2026-01-012026-03-310000896159cb:ShortTailMembercb:SegmentInsuranceOverseasGeneralMember2026-01-012026-03-310000896159cb:LongTailMembercb:SegmentGlobalReinsuranceMember2026-01-012026-03-310000896159cb:ShortTailMembercb:SegmentGlobalReinsuranceMember2026-01-012026-03-310000896159cb:LongTailMemberus-gaap:CorporateMember2026-01-012026-03-310000896159cb:ShortTailMemberus-gaap:CorporateMember2026-01-012026-03-310000896159us-gaap:CorporateMember2026-01-012026-03-310000896159cb:LongTailMember2026-01-012026-03-310000896159cb:ShortTailMember2026-01-012026-03-310000896159cb:LongTailMembercb:SegmentNorthAmericaCommercialPCInsuranceMember2025-01-012025-03-310000896159cb:ShortTailMembercb:SegmentNorthAmericaCommercialPCInsuranceMember2025-01-012025-03-310000896159cb:SegmentNorthAmericaCommercialPCInsuranceMember2025-01-012025-03-310000896159cb:LongTailMembercb:NorthAmericaPersonalPCInsuranceMember2025-01-012025-03-310000896159cb:ShortTailMembercb:NorthAmericaPersonalPCInsuranceMember2025-01-012025-03-310000896159cb:NorthAmericaPersonalPCInsuranceMember2025-01-012025-03-310000896159cb:LongTailMembercb:SegmentInsuranceNorthAmericanAgricultureMember2025-01-012025-03-310000896159cb:ShortTailMembercb:SegmentInsuranceNorthAmericanAgricultureMember2025-01-012025-03-310000896159cb:SegmentInsuranceNorthAmericanAgricultureMember2025-01-012025-03-310000896159cb:LongTailMembercb:SegmentInsuranceOverseasGeneralMember2025-01-012025-03-310000896159cb:ShortTailMembercb:SegmentInsuranceOverseasGeneralMember2025-01-012025-03-310000896159cb:SegmentInsuranceOverseasGeneralMember2025-01-012025-03-310000896159cb:LongTailMembercb:SegmentGlobalReinsuranceMember2025-01-012025-03-310000896159cb:ShortTailMembercb:SegmentGlobalReinsuranceMember2025-01-012025-03-310000896159cb:SegmentGlobalReinsuranceMember2025-01-012025-03-310000896159cb:LongTailMemberus-gaap:CorporateMember2025-01-012025-03-310000896159cb:ShortTailMemberus-gaap:CorporateMember2025-01-012025-03-310000896159us-gaap:CorporateMember2025-01-012025-03-310000896159cb:LongTailMember2025-01-012025-03-310000896159cb:ShortTailMember2025-01-012025-03-310000896159cb:SegmentLifeMember2024-12-310000896159cb:SegmentLifeMember2025-01-012025-03-310000896159cb:SegmentLifeMember2025-03-310000896159us-gaap:AllOtherSegmentsMember2026-03-310000896159us-gaap:AllOtherSegmentsMember2025-03-310000896159cb:AnnuitiesMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MinimumMember2026-03-310000896159us-gaap:UniversalLifeMember2025-12-310000896159cb:AnnuitiesMember2025-12-310000896159us-gaap:OtherInsuranceProductLineMember2025-12-310000896159us-gaap:UniversalLifeMember2026-01-012026-03-310000896159cb:AnnuitiesMember2026-01-012026-03-310000896159us-gaap:OtherInsuranceProductLineMember2026-01-012026-03-310000896159us-gaap:UniversalLifeMember2026-03-310000896159cb:AnnuitiesMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMember2026-03-310000896159us-gaap:UniversalLifeMember2024-12-310000896159cb:AnnuitiesMember2024-12-310000896159us-gaap:OtherInsuranceProductLineMember2024-12-310000896159us-gaap:UniversalLifeMember2025-01-012025-03-310000896159cb:AnnuitiesMember2025-01-012025-03-310000896159us-gaap:OtherInsuranceProductLineMember2025-01-012025-03-310000896159us-gaap:UniversalLifeMember2025-03-310000896159cb:AnnuitiesMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMember2025-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Membersrt:MaximumMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MinimumMember2026-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MaximumMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMembersrt:MinimumMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateFixedRateOrNoGuaranteeMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMember2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Member2026-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMember2026-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Membersrt:MaximumMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MinimumMember2025-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MaximumMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMembersrt:MinimumMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:UniversalLifeMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateFixedRateOrNoGuaranteeMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMember2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Member2025-03-310000896159us-gaap:UniversalLifeMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Membersrt:MaximumMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MinimumMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MaximumMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMembersrt:MinimumMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateFixedRateOrNoGuaranteeMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Member2026-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMember2026-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Membersrt:MaximumMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeUpTo0200Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MinimumMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Membersrt:MaximumMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditRatingRangeFrom0201To0400Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMembersrt:MinimumMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom0400AndGreaterMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMembercb:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateFixedRateOrNoGuaranteeMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMember2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Member2025-03-310000896159us-gaap:OtherInsuranceProductLineMemberus-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0151AndGreaterMember2025-03-310000896159us-gaap:SeparateAccountCashAndCashEquivalentsMember2026-03-310000896159us-gaap:SeparateAccountCashAndCashEquivalentsMember2025-03-310000896159us-gaap:SeparateAccountEquitySecurityMember2026-03-310000896159us-gaap:SeparateAccountEquitySecurityMember2025-03-310000896159us-gaap:SeparateAccountDebtSecurityMember2026-03-310000896159us-gaap:SeparateAccountDebtSecurityMember2025-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMemberus-gaap:VariableAnnuityMember2025-12-310000896159us-gaap:OtherLongdurationInsuranceProductLineMemberus-gaap:VariableAnnuityMember2024-12-310000896159us-gaap:OtherLongdurationInsuranceProductLineMemberus-gaap:VariableAnnuityMember2026-01-012026-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMemberus-gaap:VariableAnnuityMember2025-01-012025-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMemberus-gaap:VariableAnnuityMember2026-03-310000896159us-gaap:OtherLongdurationInsuranceProductLineMemberus-gaap:VariableAnnuityMember2025-03-310000896159srt:MinimumMember2026-03-310000896159srt:MaximumMember2026-03-310000896159srt:WeightedAverageMember2026-03-310000896159srt:MinimumMember2025-03-310000896159srt:MaximumMember2025-03-310000896159srt:WeightedAverageMember2025-03-310000896159cb:INACHFBondDue2032Memberus-gaap:SeniorNotesMember2026-03-170000896159us-gaap:ForeignExchangeFutureMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:FutureMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:FutureMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:FutureMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:FutureMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:FutureMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:FutureMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:ConvertiblesAndBondsWithWarrantsAttachedMemberus-gaap:FixedMaturitiesMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:ConvertiblesAndBondsWithWarrantsAttachedMemberus-gaap:EquitySecuritiesMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:ConvertiblesAndBondsWithWarrantsAttachedMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:ConvertiblesAndBondsWithWarrantsAttachedMemberus-gaap:FixedMaturitiesMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:ConvertiblesAndBondsWithWarrantsAttachedMemberus-gaap:EquitySecuritiesMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:ConvertiblesAndBondsWithWarrantsAttachedMemberus-gaap:NondesignatedMember2025-12-310000896159cb:InvestmentAndEmbeddedDerivativeInstrumentsMemberus-gaap:NondesignatedMember2026-03-310000896159cb:InvestmentAndEmbeddedDerivativeInstrumentsMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:SingleStockFutureMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:SingleStockFutureMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:SingleStockFutureMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:SingleStockFutureMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:SingleStockFutureMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:SingleStockFutureMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:OtherContractMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:OtherContractMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:OtherContractMemberus-gaap:NondesignatedMember2026-03-310000896159us-gaap:OtherContractMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:OtherContractMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:OtherContractMemberus-gaap:NondesignatedMember2025-12-310000896159cb:OtherDerivativesTotalMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2026-03-310000896159cb:OtherDerivativesTotalMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2026-03-310000896159cb:OtherDerivativesTotalMemberus-gaap:NondesignatedMember2026-03-310000896159cb:OtherDerivativesTotalMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2025-12-310000896159cb:OtherDerivativesTotalMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NondesignatedMember2025-12-310000896159cb:OtherDerivativesTotalMemberus-gaap:NondesignatedMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-12-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-12-310000896159us-gaap:FairValueHedgingMember2026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2026-01-012026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMember2025-01-012025-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-03-170000896159cb:CurrencySwapTerminatedMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-01-012026-03-310000896159us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansMemberus-gaap:NetInvestmentHedgingMember2026-01-012026-03-310000896159us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:BondsMemberus-gaap:NetInvestmentHedgingMember2026-01-012026-03-310000896159us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:UnsecuredDebtMemberus-gaap:NetInvestmentHedgingMember2026-01-012026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2026-01-012026-03-310000896159us-gaap:CurrencySwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2025-01-012025-03-310000896159us-gaap:DesignatedAsHedgingInstrumentMembercb:DebtDesignatedAsNetInvestmentHedgeMemberus-gaap:NetInvestmentHedgingMember2026-01-012026-03-310000896159us-gaap:DesignatedAsHedgingInstrumentMembercb:DebtDesignatedAsNetInvestmentHedgeMemberus-gaap:NetInvestmentHedgingMember2025-01-012025-03-310000896159us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2026-01-012026-03-310000896159us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2025-01-012025-03-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:NondesignatedMember2026-01-012026-03-310000896159us-gaap:ForeignExchangeFutureMemberus-gaap:NondesignatedMember2025-01-012025-03-310000896159us-gaap:FutureMemberus-gaap:NondesignatedMember2026-01-012026-03-310000896159us-gaap:FutureMemberus-gaap:NondesignatedMember2025-01-012025-03-310000896159cb:InvestmentAndEmbeddedDerivativeInstrumentsMemberus-gaap:NondesignatedMember2026-01-012026-03-310000896159cb:InvestmentAndEmbeddedDerivativeInstrumentsMemberus-gaap:NondesignatedMember2025-01-012025-03-310000896159us-gaap:SingleStockFutureMemberus-gaap:NondesignatedMember2026-01-012026-03-310000896159us-gaap:SingleStockFutureMemberus-gaap:NondesignatedMember2025-01-012025-03-310000896159us-gaap:OtherContractMemberus-gaap:NondesignatedMember2026-01-012026-03-310000896159us-gaap:OtherContractMemberus-gaap:NondesignatedMember2025-01-012025-03-310000896159cb:OtherDerivativesTotalMemberus-gaap:NondesignatedMember2026-01-012026-03-310000896159cb:OtherDerivativesTotalMemberus-gaap:NondesignatedMember2025-01-012025-03-310000896159us-gaap:NondesignatedMember2026-01-012026-03-310000896159us-gaap:NondesignatedMember2025-01-012025-03-310000896159us-gaap:CashAndCashEquivalentsMemberus-gaap:MaturityOvernightMember2026-03-310000896159us-gaap:CashAndCashEquivalentsMemberus-gaap:MaturityOvernightMember2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:MaturityOvernightMember2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:MaturityOvernightMember2025-12-310000896159us-gaap:ForeignGovernmentDebtMemberus-gaap:MaturityOvernightMember2026-03-310000896159us-gaap:ForeignGovernmentDebtMemberus-gaap:MaturityOvernightMember2025-12-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:MaturityOvernightMember2026-03-310000896159us-gaap:CorporateDebtSecuritiesMemberus-gaap:MaturityOvernightMember2025-12-310000896159us-gaap:EquitySecuritiesMemberus-gaap:MaturityOvernightMember2026-03-310000896159us-gaap:EquitySecuritiesMemberus-gaap:MaturityOvernightMember2025-12-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2026-03-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2026-03-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMember2026-03-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2025-12-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2025-12-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityOver90DaysMember2025-12-310000896159us-gaap:NonUsMemberus-gaap:AssetPledgedAsCollateralWithoutRightMember2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMember2026-03-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityOver90DaysMember2025-12-310000896159us-gaap:USTreasuryAndGovernmentMemberus-gaap:AssetPledgedAsCollateralWithoutRightMember2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMember2026-03-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityOver90DaysMember2025-12-310000896159us-gaap:MortgageBackedSecuritiesMemberus-gaap:AssetPledgedAsCollateralWithoutRightMember2025-12-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2026-03-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2026-03-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityUpTo30DaysMember2025-12-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:Maturity30To90DaysMember2025-12-310000896159us-gaap:AssetPledgedAsCollateralWithoutRightMemberus-gaap:MaturityOver90DaysMember2025-12-310000896159us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2026-03-310000896159us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMember2025-12-310000896159us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2026-03-310000896159us-gaap:SecuritiesSoldUnderAgreementsToRepurchaseMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMember2025-12-310000896159us-gaap:RepurchaseAgreementsMember2026-03-310000896159us-gaap:RepurchaseAgreementsMember2025-12-3100008961592024-05-1600008961592023-05-1700008961592025-03-072025-03-0700008961592024-05-212024-05-210000896159cb:July2023StockRepurchasePlanMember2026-01-012026-03-310000896159cb:July2023StockRepurchasePlanMember2023-07-010000896159cb:July2025StockRepurchasePlanMember2025-07-010000896159cb:July2025StockRepurchasePlanMember2026-01-012026-03-310000896159cb:July2023StockRepurchasePlanMember2025-01-012025-03-310000896159cb:July2025StockRepurchasePlanMemberus-gaap:SubsequentEventMember2026-04-012026-04-270000896159cb:July2025StockRepurchasePlanMember2026-03-310000896159cb:July2023StockRepurchasePlanMember2025-03-310000896159cb:July2025StockRepurchasePlanMemberus-gaap:SubsequentEventMember2026-04-270000896159us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-12-310000896159us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-12-310000896159us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedNetInvestmentGainLossAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-03-310000896159us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-03-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2025-12-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2024-12-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitIncludingNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitIncludingNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2026-03-310000896159us-gaap:AociLiabilityForFuturePolicyBenefitParentMember2025-03-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskParentMember2025-12-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskParentMember2024-12-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskIncludingNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskIncludingNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskParentMember2026-03-310000896159us-gaap:AociMarketRiskBenefitInstrumentSpecificCreditRiskParentMember2025-03-310000896159us-gaap:AccumulatedTranslationAdjustmentMember2025-12-310000896159us-gaap:AccumulatedTranslationAdjustmentMember2024-12-310000896159us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedTranslationAdjustmentMember2026-03-310000896159us-gaap:AccumulatedTranslationAdjustmentMember2025-03-310000896159us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-12-310000896159us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-12-310000896159us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedGainLossNetCashFlowHedgeNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedGainLossNetCashFlowHedgeNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-03-310000896159us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-03-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-12-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-12-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2026-03-310000896159us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetInvestmentGainLossIncludingPortionAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2026-01-012026-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2025-01-012025-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310000896159us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310000896159us-gaap:EmployeeStockOptionMember2026-01-012026-03-310000896159us-gaap:EmployeeStockOptionMember2025-03-032025-03-030000896159us-gaap:RestrictedStockMember2026-01-012026-03-310000896159us-gaap:RestrictedStockUnitsRSUMember2026-01-012026-03-310000896159us-gaap:PerformanceSharesMember2026-01-012026-03-310000896159cb:Performance_Based_Stock_Units_PSUMember2026-01-012026-03-310000896159us-gaap:RestrictedStockMember2025-03-032025-03-030000896159us-gaap:RestrictedStockUnitsRSUMember2025-03-032025-03-030000896159us-gaap:PerformanceSharesMember2025-03-032025-03-030000896159cb:Performance_Based_Stock_Units_PSUMember2025-03-032025-03-030000896159country:USus-gaap:PensionPlansDefinedBenefitMember2026-01-012026-03-310000896159us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2026-01-012026-03-310000896159country:USus-gaap:PensionPlansDefinedBenefitMember2025-01-012025-03-310000896159us-gaap:ForeignPlanMemberus-gaap:PensionPlansDefinedBenefitMember2025-01-012025-03-310000896159us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2026-01-012026-03-310000896159us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-01-012025-03-310000896159cb:LossesandlossexpensesMemberus-gaap:PensionPlansDefinedBenefitMember2026-01-012026-03-310000896159cb:LossesandlossexpensesMemberus-gaap:PensionPlansDefinedBenefitMember2025-01-012025-03-310000896159cb:LossesandlossexpensesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2026-01-012026-03-310000896159cb:LossesandlossexpensesMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-01-012025-03-310000896159us-gaap:GeneralAndAdministrativeExpenseMemberus-gaap:PensionPlansDefinedBenefitMember2026-01-012026-03-310000896159us-gaap:GeneralAndAdministrativeExpenseMemberus-gaap:PensionPlansDefinedBenefitMember2025-01-012025-03-310000896159us-gaap:GeneralAndAdministrativeExpenseMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2026-01-012026-03-310000896159us-gaap:GeneralAndAdministrativeExpenseMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2025-01-012025-03-310000896159us-gaap:PensionPlansDefinedBenefitMember2026-01-012026-03-310000896159us-gaap:PensionPlansDefinedBenefitMember2025-01-012025-03-310000896159cb:PartiallyOwnedInvestmentCompaniesMember2026-01-012026-03-310000896159cb:PartiallyOwnedInvestmentCompaniesMember2025-01-012025-03-310000896159cb:SegmentInsuranceNorthAmericanCommercialPCMember2026-01-012026-03-310000896159cb:SegmentCorporateAndOtherMember2026-01-012026-03-310000896159cb:SegmentInsuranceNorthAmericanCommercialPCMember2025-01-012025-03-310000896159cb:SegmentInsuranceNorthAmericanPersonalPCMember2025-01-012025-03-310000896159cb:SegmentCorporateAndOtherMember2025-01-012025-03-31

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☑			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended March 31, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from to

Commission File No. 1-11778

CHUBB LIMITED

(Exact name of registrant as specified in its charter)


Switzerland			98-0091805
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

Baerengasse 32
Zurich, Switzerland CH-8001
(Address of principal executive offices) (Zip Code)

+41 (0)43 456 76 00

(Registrant’s telephone number, including area code)


Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares, par value CHF 0.50 per share	CB	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 0.875% Senior Notes due 2027	CB/27	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 1.55% Senior Notes due 2028	CB/28	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 0.875% Senior Notes due 2029	CB/29A	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 1.40% Senior Notes due 2031	CB/31	New York Stock Exchange
Guarantee of Chubb INA Holdings LLC 2.50% Senior Notes due 2038	CB/38A	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☑

The number of registrant’s Common Shares (CHF 0.50 par value) outstanding as of April 21, 2026, was 387,860,106.

Table of Contents

CHUBB LIMITED

INDEX TO FORM 10-Q



Part I.	FINANCIAL INFORMATION		Page
Item 1.	Financial Statements:
	Consolidated Balance Sheets (Unaudited) March 3 1 , 202 6 and December 31, 2025		3
	Consolidated Statements of Operations and Comprehensive Income (Unaudited) Three Months Ended March 3 1 , 2026 and 2025		4
	Consolidated Statements of Shareholders' Equity (Unaudited) Three Mon ths En ded March 3 1 , 2026 and 2025		5
	Consolidated Statements of Cash Flows (Unaudited) Three Months Ended March 3 1 , 2026 and 2025		6
	Notes to Consolidated Financial Statements (Unaudited)
	Note 1.	General and significant accounting policies	7
	Note 2.	Acquisitions	7
	Note 3.	Investments	8
	Note 4.	Fair value measurements	12
	Note 5.	Reinsurance	16
	Note 6.	Deferred policy acquisition costs	17
	Note 7.	Goodwill	18
	Note 8.	Unpaid losses and loss expenses	19
	Note 9.	Future policy benefits	21
	Note 10.	Policyholders' account balances, Separate accounts, and Unearned revenue liabilities	25
	Note 11.	Market risk benefits	29
	Note 12.	Debt	30
	Note 13.	Commitments, contingencies, and guarantees	30
	Note 14.	Shareholders' equity	36
	Note 15.	Share-based compensation	39
	Note 16.	Postretirement benefits	40
	Note 17.	Other income and expense	41
	Note 18.	Segment information	41
	Note 19.	Earnings per share	45

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		46
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		77
Item 4.	Controls and Procedures		77
Part II.	OTHER INFORMATION
Item 1.	Legal Proceedings		78
Item 1A.	Risk Factors		78
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		78
Item 5.	Other Information		78
Item 6.	Exhibits		79

Table of Contents

PART I FINANCIAL INFORMATION


ITEM 1. Financial Statements

CONSOLIDATED BALANCE SHEETS (Unaudited)

Chubb Limited and Subsidiaries


	March 31		December 31
(in millions of U.S. dollars, except share and per share data)	2026		2025

Assets
Investments
Short-term investments, at fair value (amortized cost – $5,067 and $4,840) (includes variable interest entities (VIE) balances of $109 and $105)	$	5,067	$	4,840
Fixed maturities available-for-sale, at fair value, net of valuation allowance – $50 and $52 (amortized cost – $127,301 and $124,726)	123,433		122,680
Private debt held-for-investment, at amortized cost, net of valuation allowance – $2 and $3	2,477		2,411
Equity securities, at fair value (includes VIE balances of $2,379 and $2,275)	10,916		10,801
Private equities (includes VIE balances of $23 and $22)	17,132		17,239
Other investments (includes VIE balances of $5,828 and $5,818)	11,170		10,749
Total investments	170,195		168,720
Cash, including restricted cash $203 and $198 (includes VIE balances of $258 and $168)	2,634		2,470

Securities lending collateral	2,277		2,500
Accrued investment income	1,351		1,305
Insurance and reinsurance balances receivable, net of valuation allowance – $63 and $62	17,101		15,944
Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $320 and $320	20,159		20,338
Reinsurance recoverable on policy benefits	295		286
Deferred policy acquisition costs	10,452		10,008

Value of business acquired	2,926		2,975
Goodwill	20,370		20,207
Other intangible assets	6,217		6,241
Deferred tax assets	1,315		1,312
Prepaid reinsurance premiums	4,105		3,874
Separate account assets	6,718		6,925
Other assets (includes VIE balances of $82 and $58)	9,341		9,222
Total assets	$	275,456	$	272,327
Liabilities
Unpaid losses and loss expenses	$	88,915	$	88,018
Unearned premiums	27,180		26,279
Future policy benefits	19,273		18,420
Market risk benefits	642		659
Policyholders' account balances	8,782		8,576
Separate account liabilities	6,718		6,925
Insurance and reinsurance balances payable	8,486		8,349
Repurchase agreements (includes VIE balances of $983 and $956)	3,736		3,324

Securities lending payable	2,277		2,500

Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $64 and $159)	9,881		10,108

Deferred tax liabilities	1,759		1,741
Short-term debt	1,500		1,499
Long-term debt	15,970		15,728
Hybrid debt	425		422
Total liabilities	195,544		192,548
Commitments and contingencies (refer to Note 13)
Shareholders’ equity
Common Shares (CHF 0.50 par value; 400,120,847 and 412,107,421 shares issued; 388,495,580 and 391,101,227 shares outstanding)	224		231
Common Shares in treasury (11,625,267 and 21,006,194 shares)	(2,302)		(4,699)
Additional paid-in capital	12,956		13,250
Retained earnings	68,821		69,950
Accumulated other comprehensive income (loss) (AOCI)	(5,911)		(4,975)
Total Chubb shareholders’ equity	73,788		73,757
Noncontrolling interests (includes VIE balances of $5,316 and $5,133)	6,124		6,022
Total shareholders' equity	79,912		79,779
Total liabilities and shareholders’ equity	$	275,456	$	272,327

See accompanying notes to the Consolidated Financial Statements

Table of Contents

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited)

Chubb Limited and Subsidiaries


	Three Months Ended
	March 31
(in millions of U.S. dollars, except per share data)	2026		2025

Revenues
Net premiums written	$	14,005	$	12,646
Increase in unearned premiums	(548)		(646)
Net premiums earned	13,457		12,000
Net investment income	1,709		1,561
Net realized gains (losses)	(407)		(116)
Market risk benefits gains (losses)	14		(92)
Total revenues	14,773		13,353
Expenses
Losses and loss expenses	6,131		6,896
Policy benefits (includes remeasurement losses of $2 and $3)	1,785		1,227
Policy acquisition costs	2,596		2,313
Administrative expenses	1,149		1,080
Interest expense	198		181
Other (income) expense	(161)		(83)
Amortization of purchased intangibles	73		75
Integration expenses and severance	9		—
Total expenses	11,780		11,689
Income before income tax	2,993		1,664
Income tax expense	646		321
Net income	$	2,347	$	1,343
Net income attributable to noncontrolling interests	27		12
Net income attributable to Chubb	$	2,320	$	1,331
Other comprehensive income (loss)
Change in:
Unrealized appreciation (depreciation)	$	(1,826)	$	901
Current discount rate on future policy benefits	386		(122)
Instrument-specific credit risk on market risk benefits	12		4
Cumulative foreign currency translation adjustment	528		359
Other, including postretirement benefit liability adjustment	(6)		(95)
Other comprehensive income (loss), before income tax	(906)		1,047
Income tax (expense) benefit related to OCI items	141		(43)
Other comprehensive income (loss)	(765)		1,004
Comprehensive income	1,582		2,347
Comprehensive income attributable to noncontrolling interests	198		7
Comprehensive income attributable to Chubb	$	1,384	$	2,340
Earnings per share
Basic earnings per share attributable to Chubb	$	5.94	$	3.32
Diluted earnings per share attributable to Chubb	$	5.88	$	3.29

See accompanying notes to the Consolidated Financial Statements

Table of Contents

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)

Chubb Limited and Subsidiaries


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Common Shares
Balance – beginning of period	$	231	$	235

Cancellation of treasury shares	(7)		(4)
Balance – end of period	224		231
Common Shares in treasury
Balance – beginning of period	(4,699)		(3,524)
Common Shares repurchased	(1,143)		(385)
Cancellation of treasury shares	3,455		1,942
Net shares issued under employee share-based compensation plans	85		168
Balance – end of period	(2,302)		(1,799)
Additional paid-in capital
Balance – beginning of period	13,250		14,393
Net shares issued under employee share-based compensation plans	(66)		(146)
Exercise of stock options	5		1
Share-based compensation expense	100		94

Net increase due to acquisitions	47		—
Funding of dividends declared to Retained earnings	(380)		(366)
Balance – end of period	12,956		13,976
Retained earnings
Balance – beginning of period	69,950		61,561
Net income attributable to Chubb	2,320		1,331
Cancellation of treasury shares and other	(3,449)		(1,939)
Funding of dividends declared from Additional paid-in capital	380		366
Dividends declared on Common Shares	(380)		(366)
Balance – end of period	68,821		60,953
Accumulated other comprehensive income (loss) (AOCI)
Balance – beginning of period	(4,975)		(8,644)
Other comprehensive income (loss)	(936)		1,009
Balance – end of period	(5,911)		(7,635)
Total Chubb shareholders’ equity	$	73,788	$	65,726
Noncontrolling interests
Balance – beginning of period	$	6,022	$	4,373
Net increase (decrease) due to consolidation, deconsolidation, and other transactions	(96)		649
Net income attributable to noncontrolling interests	27		12
Other comprehensive income (loss) attributable to noncontrolling interests	171		(5)

Balance – end of period	$	6,124	$	5,029
Total shareholders' equity	$	79,912	$	70,755

See accompanying notes to the Consolidated Financial Statements

Table of Contents

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

Chubb Limited and Subsidiaries


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Cash flows from operating activities
Net income	$	2,347	$	1,343
Adjustments to reconcile net income to net cash flows from operating activities
Net realized (gains) losses	407		116
Market risk benefits (gains) losses	(14)		92
Amortization of premiums (discounts) on fixed maturities	(102)		(100)

Amortization of purchased intangibles	73		75
Equity in net income of partially-owned entities	(157)		(82)
Deferred income taxes	156		(198)
Unpaid losses and loss expenses	646		1,182
Unearned premiums	747		868
Future policy benefits	1,023		440
Insurance and reinsurance balances payable	77		305
Accounts payable, accrued expenses, and other liabilities	(592)		(567)
Income taxes	217		203
Insurance and reinsurance balances receivable	(1,076)		(874)
Reinsurance recoverable	244		(127)
Deferred policy acquisition costs	(419)		(428)
Net sales (purchases) of investments by consolidated investment products	144		(435)
Other	226		(247)
Net cash flows from operating activities	3,947		1,566
Cash flows from investing activities
Purchases of fixed maturities available-for-sale	(9,119)		(5,894)


Purchases of equity securities	(993)		(783)
Sales of fixed maturities available-for-sale	3,069		2,660


Sales of equity securities	878		637
Maturities and redemptions of fixed maturities available-for-sale	3,750		2,902

Net change in short-term investments	(133)		773
Net derivative instruments settlements	19		(21)
Private equity contributions	(161)		(879)
Private equity distributions	241		222





Other	(386)		(415)
Net cash flows used for investing activities	(2,835)		(798)
Cash flows from financing activities
Dividends paid on Common Shares	(380)		(366)
Common Shares repurchased	(1,174)		(691)
Proceeds from issuance of long-term debt	254		—
Repayment of long-term debt	—		(800)
Proceeds from share-based compensation plans	118		98
Policyholder contract deposits	382		242
Policyholder contract withdrawals	(271)		(176)
Third-party capital invested into consolidated investment products	494		559
Third-party capital distributed by consolidated investment products	(499)		(242)
Proceeds from issuance of repurchase agreements	2,164		810
Repayment of repurchase agreements	(1,917)		(447)
Other	(121)		(112)
Net cash flows used for financing activities	(950)		(1,125)
Effect of foreign currency rate changes on cash and restricted cash	2		58
Net increase (decrease) in cash and restricted cash	164		(299)
Cash and restricted cash – beginning of period	2,470		2,549
Cash and restricted cash – end of period	$	2,634	$	2,250
Supplemental cash flow information
Interest paid	$	189	$	146

See accompanying notes to the Consolidated Financial Statements

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Unaudited)

Chubb Limited and Subsidiaries

1. General and significant accounting policies

a) Basis of presentation

Chubb Limited is a holding company incorporated in Zurich, Switzerland. Chubb Limited, through its subsidiaries, provides a broad range of insurance and reinsurance products to insureds worldwide. Our results are reported through the following business segments: North America Commercial P&C Insurance, North America Personal P&C Insurance, North America Agricultural Insurance, Overseas General Insurance, Global Reinsurance, and Life Insurance. Refer to Note 18 for additional information.

The interim unaudited Consolidated Financial Statements include the accounts of Chubb Limited and its subsidiaries (collectively, Chubb, we, us, or our), over which Chubb exercises control, including Huatai Group, our majority-owned subsidiary, and minority-owned entities such as variable interest entities (VIEs) in which Chubb is considered the primary beneficiary. Noncontrolling interests on the Consolidated Financial Statements represent the portion of majority-owned subsidiaries and VIEs in which we do not have direct equity ownership. These interim unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and, in the opinion of management, reflect all adjustments necessary for a fair statement of the results and financial position for such periods. All significant intercompany accounts and transactions have been eliminated.

The results of operations and cash flows for any interim period are not necessarily indicative of the results for the full year. These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our 2025 Form 10-K.

b) New Accounting Pronouncements

Accounting guidance not yet adopted

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued guidance that requires disclosure of specified information about certain costs and expenses in the notes to the financial statements. The guidance is effective for our 2027 annual reporting, and interim reporting periods beginning in 2028. Prospective application is required, with retrospective application permitted. We are evaluating the impact of this disclosure-only requirement.

2. Acquisitions

Liberty Mutual's P&C Insurance Business in Vietnam

We completed the acquisition of Liberty Insurance in Vietnam on February 2, 2026. The results of operations for Liberty Insurance in Vietnam are reported in our Overseas General Insurance segment and are not material to Chubb's financial results.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

3. Investments

a) Fixed maturities


March 31, 2026	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. and local government securities	$	3,915	$	—	$	17	$	(235)	$	3,697
Non-U.S.	41,543		(12)		396		(1,345)		40,582
Corporate and asset-backed securities	49,466		(38)		367		(1,963)		47,832
Mortgage-backed securities	32,377		—		240		(1,295)		31,322

	$	127,301	$	(50)	$	1,020	$	(4,838)	$	123,433


December 31, 2025	Amortized Cost		Valuation Allowance		Gross Unrealized Appreciation		Gross Unrealized Depreciation		Fair Value
(in millions of U.S. dollars)
Available-for-sale
U.S. and local government securities	$	3,908	$	—	$	27	$	(221)	$	3,714
Non-U.S.	40,479		(10)		795		(908)		40,356
Corporate and asset-backed securities	48,806		(42)		734		(1,612)		47,886
Mortgage-backed securities	31,533		—		398		(1,207)		30,724

	$	124,726	$	(52)	$	1,954	$	(3,948)	$	122,680

The following table presents fixed maturities by contractual maturity:


	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)	Net Carrying Value		Fair Value		Net Carrying Value		Fair Value
Available-for-sale
Due in 1 year or less	$	4,553	$	4,553	$	4,749	$	4,749
Due after 1 year through 5 years	36,333		36,333		35,611		35,611
Due after 5 years through 10 years	31,062		31,062		31,514		31,514
Due after 10 years	20,163		20,163		20,082		20,082
	92,111		92,111		91,956		91,956
Mortgage-backed securities	31,322		31,322		30,724		30,724
	$	123,433	$	123,433	$	122,680	$	122,680

Expected maturities could differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties.

b) Gross unrealized loss

Fixed maturities in an unrealized loss position comprised both investment grade and below investment grade securities for which fair value declined, principally due to rising interest rates since the date of purchase. Refer to Note 1 f) in the 2025 Form 10-K for further information on factors considered in the evaluation of expected credit losses.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

The following tables present, for available-for-sale (AFS) fixed maturities in an unrealized loss position (including securities on loan) that are not deemed to have expected credit losses, the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:


	0 – 12 Months				Over 12 Months				Total
March 31, 2026	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)
U.S. and local government securities	$	743	$	(9)	$	1,983	$	(226)	$	2,726	$	(235)
Non-U.S.	14,685		(468)		8,352		(750)		23,037		(1,218)
Corporate and asset-backed securities	14,841		(237)		9,626		(1,088)		24,467		(1,325)
Mortgage-backed securities	6,046		(62)		10,007		(1,233)		16,053		(1,295)

Total AFS fixed maturities	$	36,315	$	(776)	$	29,968	$	(3,297)	$	66,283	$	(4,073)


	0 – 12 Months				Over 12 Months				Total
December 31, 2025	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
(in millions of U.S. dollars)

U.S. and local government securities	$	307	$	(3)	$	2,139	$	(216)	$	2,446	$	(219)
Non-U.S.	6,664		(163)		8,995		(622)		15,659		(785)
Corporate and asset-backed securities	4,136		(59)		10,225		(867)		14,361		(926)
Mortgage-backed securities	1,467		(12)		11,016		(1,194)		12,483		(1,206)

Total AFS fixed maturities	$	12,574	$	(237)	$	32,375	$	(2,899)	$	44,949	$	(3,136)

At March 31, 2026, the tax benefit on certain unrealized losses in our investment portfolio was reduced by a valuation allowance of $336 million necessary due to limitations on the utilization of these losses for tax purposes. As part of evaluating whether it was more likely than not that we could record a tax benefit on these losses, we considered realized gains, carryback capacity and available tax planning strategies.

The following table presents a roll-forward of valuation allowance for expected credit losses on fixed maturities:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Available-for-sale
Valuation allowance for expected credit losses - beginning of period	$	52	$	70


Provision for expected credit loss	19		21



Recovery of expected credit loss	(21)		(28)
Valuation allowance for expected credit losses - end of period	$	50	$	63
Private debt held-for-investment
Valuation allowance for expected credit losses - beginning of period	$	3	$	4

Recovery of expected credit loss	(1)		(1)
Valuation allowance for expected credit losses - end of period	$	2	$	3

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

c) Net realized gains (losses)

The following table presents the components of net realized gains (losses):


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025
Fixed maturities:
Gross realized gains	$	40	$	38
Gross realized losses	(124)		(96)
Other investments - Fixed maturities (includes $(20) million and $(53) million related to investments measured under the fair value option)	(8)		(40)
Net recovery of expected credit losses	3		8
Impairment (1)	(32)		(7)
Total fixed maturities	(121)		(97)
Equity securities (includes $(67) million and $53 million related to investments measured under the fair value option)	(149)		63
Private equities (less than 3 percent ownership)	16		11
Foreign exchange	(8)		(65)
Investment and embedded derivative instruments	(115)		(23)
Other derivative instruments	(9)		(3)
Other	(21)		(2)
Net realized gains (losses) (pre-tax)	$	(407)	$	(116)

(1)Relates to certain securities we intend to sell and securities written to market entering default.

Realized gains and losses from Equity securities, Other investments and Private equities from the table above include sales of securities and unrealized gains and losses from fair value changes as follows:


											Three Months Ended
													March 31
							2026								2025
(in millions of U.S. dollars)	Equity Securities		Other Investments		Private Equities		Total		Equity Securities		Other Investments		Private Equities		Total
Net gains (losses) recognized during the period	$	(149)	$	(8)	$	16	$	(141)	$	63	$	(40)	$	11	$	34
Less: Net gains (losses) recognized from sales of securities	94		—		—		94		(12)		1		—		(11)
Unrealized gains (losses) recognized for securities still held at reporting date	$	(243)	$	(8)	$	16	$	(235)	$	75	$	(41)	$	11	$	45

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

d) Private equities

Private equities include investment funds, limited partnerships, and partially-owned investment companies measured at fair value using net asset value (NAV) as a practical expedient. The following table presents, by investment category, the expected liquidation period, fair value, and maximum future funding commitments for private equities:


	Expected Liquidation Period of Underlying Assets	March 31, 2026				December 31, 2025
(in millions of U.S. dollars)		Fair Value		Maximum Future Funding Commitments		Fair Value		Maximum Future Funding Commitments
Financial	2 to 10 Years	$	1,270	$	443	$	1,420	$	483
Real assets	2 to 13 Years	1,901		1,104		1,924		1,111
Distressed	2 to 8 Years	1,198		1,231		1,226		977
Private credit	3 to 8 Years	301		292		299		302
Traditional	2 to 14 Years	12,081		4,209		11,990		4,345
Vintage	1 to 3 Years	33		—		43		—
Investment funds	Not Applicable	348		—		337		—
		$	17,132	$	7,279	$	17,239	$	7,218

Included in all categories in the above table, except for Investment funds, are investments for which Chubb will never have the contractual option to redeem but receives distributions based on the liquidation of the underlying assets. Further, for all categories except for Investment funds, Chubb does not have the ability to sell or transfer the investments without the consent from the general partner of individual funds.


Investment Category:						Consists of investments in private equity funds:
Financial						targeting financial services companies, such as financial institutions and insurance services worldwide
Real assets						targeting investments related to hard physical assets, such as real estate, infrastructure, and natural resources
Distressed						targeting distressed corporate debt/credit and equity opportunities in the U.S.
Private credit						targeting privately originated corporate debt investments, including senior secured loans and subordinated bonds
Traditional						employing traditional private equity investment strategies, such as buyout and growth equity globally
Vintage						funds where the initial fund term has expired

Investment funds employ various investment strategies, such as long/short equity and arbitrage/distressed. Included in this category are investments for which Chubb has the option to redeem at agreed upon value as described in each investment fund’s subscription agreement. Depending on the terms of the various subscription agreements, investment fund investments may be redeemed monthly, quarterly, semi-annually, or annually. If Chubb wishes to redeem an investment fund investment, it must first determine if the investment fund is still in a lock-up period (a time when Chubb cannot redeem its investment so that the investment fund manager has time to build the portfolio). If the investment fund is no longer in its lock-up period, Chubb must then notify the investment fund manager of its intention to redeem by the notification date prescribed by the subscription agreement. Subsequent to notification, the investment fund can redeem Chubb’s investment within several months of the notification. Notice periods for redemption of the investment funds are up to 270 days. Chubb can redeem its investment funds without consent from the investment fund managers.

e) Restricted assets

Chubb is required to maintain assets on deposit with various regulatory authorities to support its insurance and reinsurance operations. These requirements are generally promulgated in the statutory regulations of the individual jurisdictions. The assets on deposit are available to settle insurance and reinsurance liabilities. Chubb is also required to restrict assets pledged under repurchase agreements, which represent Chubb's agreement to sell securities and repurchase them at a future date for a predetermined price. We use trust funds in certain large reinsurance transactions where the trust funds are set up for the benefit of the ceding companies and generally take the place of letter of credit (LOC) requirements. We have investments in segregated portfolios primarily to provide collateral or guarantees for LOC and derivative transactions. Included in restricted assets at March

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

31, 2026, and December 31, 2025, are investments, primarily fixed maturities, totaling $19,373 million and $19,048 million, respectively, and cash of $203 million and $198 million, respectively.

The following table presents the components of restricted assets:


	March 31		December 31
(in millions of U.S. dollars)	2026		2025
Trust funds	$	8,519	$	8,461
Assets pledged under repurchase agreements	3,925		3,518
Deposits with U.S. regulatory authorities	2,566		2,598

Deposits with non-U.S. regulatory authorities and other	4,566		4,669

Total	$	19,576	$	19,246

f) Variable interest entities (VIEs)

Consolidated VIEs

Certain subsidiaries of Huatai Group are the investment manager of, and maintain investments in, sponsored investment products that are considered VIEs. We have determined that we are the primary beneficiary and consolidate these investment products if we hold at least 10 percent ownership. Refer to Note 1 g) of our 2025 Form 10-K for further information on our consolidation criteria. The assets of these VIEs are not available to our creditors, and the investors in these VIEs have no recourse to Chubb in excess of the assets contained within the VIEs. Our economic exposures are limited to our investments based on our ownership interest in these VIEs. Our total exposure to these consolidated investment products represents the value of our economic ownership interest.

Unconsolidated VIEs

We recorded an investment in a reserved alternative investment fund (Fund) sponsored and managed by a third-party investment fund manager. The Fund is a variable interest entity; however, Chubb is not the primary beneficiary and does not consolidate the Fund because Chubb does not receive substantially all the risks and returns of the Fund. The carrying value of this investment at March 31, 2026, and December 31, 2025, was $5.3 billion and $5.4 billion, respectively, which approximates our maximum risk of loss. We have elected to account for this investment using the fair value option, classified as Equity securities on the Consolidated balance sheets. We elected the fair value option so that changes in fair value of the Fund are recorded in Net realized gains (losses) and dividends from the Fund are recorded as Net investment income when declared on the Consolidated statements of operations.

We also do not consolidate sponsored investment products where we have determined that we are not the primary beneficiary. The carrying value of these investments at March 31, 2026, and December 31, 2025, was $89 million and $70 million, respectively, and our maximum risk of loss approximates the carrying amount. These investments are classified primarily within Equity securities on the Consolidated balance sheets.

4. Fair value measurements

a) Fair value hierarchy

Fair value of financial assets and financial liabilities is estimated based on the framework established in the fair value accounting guidance. The guidance defines fair value as the price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants and establishes a three-level valuation hierarchy based on the reliability of the inputs. The fair value hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

The three levels of the hierarchy are as follows:

•Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets;

•Level 2 – Includes, among other items, inputs other than quoted prices that are observable for the asset or liability such as

interest rates and yield curves, quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active; and

•Level 3 – Inputs that are unobservable and reflect management’s judgments about assumptions that market participants

would use in pricing an asset or liability.

We categorize financial instruments within the valuation hierarchy at the balance sheet date based upon the lowest level of inputs that are significant to the fair value measurement.

We use pricing services to obtain fair value measurements for the majority of our investment securities. Based on management’s understanding of the methodologies used, these pricing services only produce an estimate of fair value if there is observable market information that would allow them to make a fair value estimate. Based on our understanding of the market inputs used by the pricing services, all applicable investments have been valued in accordance with U.S. GAAP. We do not adjust prices obtained from pricing services. Refer to Note 4 a) of our 2025 Form 10-K for further information on the valuation and leveling of assets and liabilities measured at fair value.

Financial instruments measured at fair value on a recurring basis, by valuation hierarchy


March 31, 2026	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. and local government securities	$	1,487	$	2,210	$	—	$	3,697
Non-U.S.	—		39,893		689		40,582
Corporate and asset-backed securities	—		44,296		3,536		47,832
Mortgage-backed securities	—		31,322		—		31,322

	1,487		117,721		4,225		123,433
Equity securities (1)	5,343		—		121		5,464
Short-term investments	2,591		2,465		11		5,067
Other investments (2)	664		9,073		—		9,737
Securities lending collateral	—		2,277		—		2,277
Investment derivatives	33		—		—		33
Derivatives designated as hedging instruments	—		265		—		265
Other derivative instruments	28		—		—		28
Separate account assets	6,649		69		—		6,718
Total assets measured at fair value (1)(2)(3)	$	16,795	$	131,870	$	4,357	$	153,022
Liabilities:
Investment derivatives	$	358	$	—	$	—	$	358
Derivatives designated as hedging instruments	—		80		—		80

Market risk benefits (4)	—		—		642		642
Total liabilities measured at fair value	$	358	$	80	$	642	$	1,080

(1)Excluded from the table above are funds of $5,452 million, measured using NAV as a practical expedient.

(2)Excluded from the table above are other investments of $1,433 million, principally policy loans, measured using NAV as a practical expedient.

(3)Excluded from the table above are private equities of $17,132 million, measured using NAV as a practical expedient.

(4)Refer to Note 11 for additional information on Market risk benefits.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries


December 31, 2025	Level 1		Level 2		Level 3		Total
(in millions of U.S. dollars)
Assets:
Fixed maturities available-for-sale
U.S. and local government securities	$	1,481	$	2,233	$	—	$	3,714
Non-U.S.	—		39,685		671		40,356
Corporate and asset-backed securities	—		44,340		3,546		47,886
Mortgage-backed securities	—		30,724		—		30,724

	1,481		116,982		4,217		122,680
Equity securities (1)	5,163		—		119		5,282
Short-term investments	2,657		2,138		45		4,840
Other investments (2)	630		8,684		—		9,314
Securities lending collateral	—		2,500		—		2,500
Investment derivatives	22		—		—		22
Derivatives designated as hedging instruments	—		266		—		266
Other derivative instruments	11		—		—		11
Separate account assets	6,858		67		—		6,925
Total assets measured at fair value (1)(2)(3)	$	16,822	$	130,637	$	4,381	$	151,840
Liabilities:
Investment derivatives	$	242	$	—	$	—	$	242
Derivatives designated as hedging instruments	—		232		—		232
Other derivative instruments	—		4		—		4
Market risk benefits (4)	—		—		659		659
Total liabilities measured at fair value	$	242	$	236	$	659	$	1,137

(1)Excluded from the table above are funds of $5,519 million, measured using NAV as a practical expedient.

(2)Excluded from the table above are other investments of $1,435 million, principally policy loans, measured using NAV as a practical expedient.

(3)Excluded from the table above are private equities of $17,239 million, measured using NAV as a practical expedient.

(4)Refer to Note 11 for additional information on Market risk benefits.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

Level 3 financial instruments

The following tables present a reconciliation of the beginning and ending balances of financial instruments measured at fair value using significant unobservable inputs (Level 3). Excluded from the tables below is the reconciliation of Market risk benefits, refer to Note 11 for additional information.


Three Months Ended March 31, 2026 (in millions of U.S. dollars)		Available-for-Sale Debt Securities					Equity securities			Short-term investments
	Non-U.S.			Corporate and asset- backed securities

Balance, beginning of period		$	671		$	3,546		$	119		$	45
Transfers into Level 3		2			1			—			—
Transfers out of Level 3		—			(17)			—			—
Change in Net Unrealized Gains (Losses) in OCI		(10)			(14)			—			(2)
Net Realized Gains (Losses)		—			(7)			—			—

Purchases		76			111			6			8
Sales		(30)			(1)			(4)			—
Settlements		(20)			(83)			—			(40)

Balance, end of period		$	689		$	3,536		$	121		$	11
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	—		$	(3)		$	—		$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	(10)		$	(18)		$	—		$	(1)


Three Months Ended March 31, 2025 (in millions of U.S. dollars)		Available-for-Sale Debt Securities								Equity securities		Short-term investments
	Non-U.S.			Corporate and asset- backed securities			Mortgage-backed securities

Balance, beginning of period		$	604		$	2,891		$	3	$	120	$	14
Transfers into Level 3		1			24			—		—		—
Transfers out of Level 3		—			(1)			—		—		—
Change in Net Unrealized Gains (Losses) in OCI		20			(4)			—		—		—
Net Realized Gains (Losses)		(6)			(2)			(2)		(5)		—

Purchases		60			219			1		7		5
Sales		(53)			(47)			(2)		(9)		—
Settlements		(39)			(63)			—		—		(1)

Balance, end of period		$	587		$	3,017		$	—	$	113	$	18
Net Realized Gains (Losses) Attributable to Changes in Fair Value at the Balance Sheet date		$	(1)		$	(3)		$	—	$	5	$	—
Change in Net Unrealized Gains (Losses) included in OCI at the Balance Sheet date		$	14		$	(10)		$	—	$	—	$	—

b) Financial instruments disclosed, but not measured, at fair value

Chubb uses various financial instruments in the normal course of its business. Our insurance contracts are excluded from fair value of financial instruments accounting guidance, and therefore, are not included in the amounts discussed below.

The carrying values of cash, other assets, other liabilities, and other financial instruments not included below approximated their fair values. Refer to Note 4 b) of our 2025 Form 10-K for information on the fair value methods and assumptions for private debt held-for-investment, repurchase agreements, short-term and long-term debt, and hybrid debt.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

The following tables present fair value, by valuation hierarchy, and carrying value of the financial instruments not measured at fair value:


March 31, 2026	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,515	$	2,515	$	2,477
Total assets	$	—	$	—	$	2,515	$	2,515	$	2,477
Liabilities:
Repurchase agreements	$	—	$	3,736	$	—	$	3,736	$	3,736
Short-term debt	—		1,499		—		1,499		1,500
Long-term debt	—		14,038		590		14,628		15,970
Hybrid debt	—		480		—		480		425
Total liabilities	$	—	$	19,753	$	590	$	20,343	$	21,631


December 31, 2025	Fair Value								Net Carrying Value
(in millions of U.S. dollars)	Level 1		Level 2		Level 3		Total
Assets:
Private debt held-for-investment	$	—	$	—	$	2,445	$	2,445	$	2,411
Total assets	$	—	$	—	$	2,445	$	2,445	$	2,411
Liabilities:
Repurchase agreements	$	—	$	3,324	$	—	$	3,324	$	3,324
Short-term debt	—		1,498		—		1,498		1,499
Long-term debt	—		14,045		576		14,621		15,728
Hybrid debt	—		484		—		484		422
Total liabilities	$	—	$	19,351	$	576	$	19,927	$	20,973

5. Reinsurance

Reinsurance recoverable on ceded reinsurance


	March 31, 2026				December 31, 2025
(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	$	18,253	$	256	$	18,346	$	248
Reinsurance recoverable on paid losses and loss expenses	1,906		64		1,992		72
Reinsurance recoverable on losses and loss expenses	$	20,159	$	320	$	20,338	$	320
Reinsurance recoverable on policy benefits	$	295	$	—	$	286	$	—

(1)Net of valuation allowance for uncollectible reinsurance.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

The following table presents a roll-forward of valuation allowance for uncollectible reinsurance related to Reinsurance recoverable on losses and loss expenses:


	Three Months Ended
			March 31
(in millions of U.S. dollars)	2026		2025
Valuation allowance for uncollectible reinsurance - beginning of period	$	320	$	310
Provision for uncollectible reinsurance	8		11
Write-offs charged against the valuation allowance	(9)		(2)
Foreign exchange revaluation	1		1

Valuation allowance for uncollectible reinsurance - end of period	$	320	$	320

For additional information, refer to Note 1 e) to the Consolidated Financial Statements of our 2025 Form 10-K.

6. Deferred policy acquisition costs

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


	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	567	$	746	$	1,296	$	2,136	$	392	$	5,137
Capitalizations	64		26		139		197		52		478
Amortization expense	(41)		(21)		(18)		(71)		(9)		(160)

Other (including foreign exchange)	5		(7)		(1)		(2)		1		(4)
Balance – end of Period	$	595	$	744	$	1,416	$	2,260	$	436	$	5,451
Overseas General Insurance segment excluded from table											713
Total deferred policy acquisition costs on long-duration contracts											$	6,164
Deferred policy acquisition costs on short-duration contracts											4,288
Total deferred policy acquisition costs											$	10,452

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries


	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Universal Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	469	$	722	$	870	$	1,681	$	324	$	4,066
Capitalizations	58		38		109		170		40		415
Amortization expense	(36)		(20)		(12)		(54)		(7)		(129)

Other (including foreign exchange)	4		(8)		(4)		(16)		(2)		(26)
Balance – end of period	$	495	$	732	$	963	$	1,781	$	355	$	4,326
Overseas General Insurance segment excluded from table											608
Total deferred policy acquisition costs on long-duration contracts											$	4,934
Deferred policy acquisition costs on short-duration contracts											3,841
Total deferred policy acquisition costs											$	8,775

7. Goodwill

Goodwill

The following table presents a roll-forward of Goodwill by segment:


(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		Chubb Consolidated
Balance at December 31, 2025	$	7,191	$	2,226	$	134	$	5,530	$	371	$	4,755	$	20,207
Measurement-period adjustments	—		—		—		(7)		—		—		(7)

Foreign exchange revaluation	9		3		—		77		—		81		170
Balance at March 31, 2026 (1)	$	7,200	$	2,229	$	134	$	5,600	$	371	$	4,836	$	20,370

(1)Includes $420 million attributable to noncontrolling interests.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

8. Unpaid losses and loss expenses

The following table presents a reconciliation of beginning and ending Unpaid losses and loss expenses:


	Three Months Ended
	March 31
(in millions of U.S. dollars)	2026		2025

Gross unpaid losses and loss expenses – beginning of period	$	88,018	$	84,004
Reinsurance recoverable on unpaid losses and loss expenses – beginning of period (1)	(18,346)		(17,734)
Net unpaid losses and loss expenses – beginning of period	69,672		66,270
Net losses and loss expenses incurred in respect of losses occurring in:
Current year	6,419		7,133
Prior years (2)	(288)		(237)
Total	6,131		6,896
Net losses and loss expenses paid in respect of losses occurring in:
Current year	1,191		1,305
Prior years	4,140		4,699
Total	5,331		6,004
Foreign currency revaluation and other	190		228
Net unpaid losses and loss expenses – end of period	70,662		67,390
Reinsurance recoverable on unpaid losses and loss expenses (1)	18,253		18,081
Gross unpaid losses and loss expenses – end of period	$	88,915	$	85,471

(1) Net of valuation allowance for uncollectible reinsurance.

(2) Relates to prior period loss reserve development only and excludes prior period development related to reinstatement premiums, expense adjustments, earned premiums, and A&H long-duration lines totaling $2 million and $(18) million for the three months ended March 31, 2026 and 2025, respectively.

Net unpaid losses and loss expenses increased $990 million for the three months ended March 31, 2026, principally reflecting underlying exposure growth and the unfavorable impact of foreign currency movement, partially offset by the impact of favorable prior period development and crop activity.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

Prior Period Development

Prior period development (PPD) arises from changes to loss estimates recognized in the current year that relate to loss events that occurred in previous calendar years and excludes the effect of losses from the development of earned premium from previous accident years. Long-tail lines include lines such as workers' compensation, general liability, and financial lines; while short-tail lines include lines such as most property lines, energy, personal accident, and agriculture. The following table summarizes (favorable) and adverse PPD by segment:


	Three Months Ended March 31
(in millions of U.S. dollars)	Long-tail		Short-tail		Total
2026
North America Commercial P&C Insurance	$	21	$	(110)	$	(89)
North America Personal P&C Insurance	—		(1)		(1)
North America Agricultural Insurance	—		(80)		(80)
Overseas General Insurance	—		(131)		(131)
Global Reinsurance	—		—		—
Corporate	15		—		15
Total	$	36	$	(322)	$	(286)
2025
North America Commercial P&C Insurance	$	49	$	(163)	$	(114)
North America Personal P&C Insurance	—		—		—
North America Agricultural Insurance	—		(33)		(33)
Overseas General Insurance	1		(122)		(121)
Global Reinsurance	(5)		5		—
Corporate	13		—		13
Total	$	58	$	(313)	$	(255)

Significant prior period movements by segment, principally driven by reserve reviews completed during each respective period, are discussed in more detail below. The remaining net development for long-tail lines and short-tail business for each segment and Corporate comprises numerous favorable and adverse movements across a number of lines and accident years, none of which is significant individually or in the aggregate.

North America Commercial P&C Insurance. Net favorable development for the three months ended March 31, 2026, included $110 million from short-tail lines, primarily from surety, due to lower-than-expected loss development. This favorable development was partially offset by net adverse development of $21 million from long-tail lines, primarily from general casualty partially offset by favorable development in workers' compensation and financial lines.

Net favorable development for the three months ended March 31, 2025, included $163 million from short-tail lines, primarily from surety, due to lower-than-expected loss development. This favorable development was partially offset by net adverse development of $49 million from long-tail lines, primarily from general casualty partially offset by favorable development in workers' compensation and financial lines.

North America Agricultural Insurance. Net favorable development for the three months ended March 31, 2026, was driven by multi-peril crop insurance results for the 2025 crop year.

Overseas General Insurance. Net favorable development for the three months ended March 31, 2026, includes a $131 million release from short-tail lines, primarily property.

Net favorable development for the three months ended March 31, 2025, included a $122 million release from short-tail lines.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

9. Future policy benefits

The following tables present a roll-forward of the liability for future policy benefits included in the Life Insurance segment:


Present Value of Expected Net Premiums	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,544	$	4,749	$	11,688	$	426	$	18,407
Beginning balance at original discount rate	1,814		4,616		11,665		423		18,518
Effect of changes in cash flow assumptions	—		—		—		—		—
Effect of actual variances from expected experience	2		53		(187)		4		(128)
Adjusted beginning of period balance	1,816		4,669		11,478		427		18,390
Issuances	70		495		609		234		1,408
Interest accrual	15		36		138		3		192
Net premiums collected (1)	(62)		(565)		(390)		(122)		(1,139)

Other (including foreign exchange)	10		27		87		8		132
Ending balance at original discount rate	1,849		4,662		11,922		550		18,983
Effect of changes in discount rate assumptions	(282)		81		(250)		2		(449)
Balance – end of period	$	1,567	$	4,743	$	11,672	$	552	$	18,534

(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,313	$	13,791	$	15,587	$	1,084	$	32,775
Beginning balance at original discount rate	2,715		13,133		15,645		1,058		32,551
Effect of changes in cash flow assumptions	—		—		—		—		—
Effect of actual variances from expected experience	9		55		(194)		4		(126)
Adjusted beginning of period balance	2,724		13,188		15,451		1,062		32,425
Issuances	70		495		609		234		1,408
Interest accrual	21		112		170		8		311
Benefit payments	(56)		(87)		(422)		(7)		(572)

Other (including foreign exchange)	8		123		63		21		215
Ending balance at original discount rate	2,767		13,831		15,871		1,318		33,787
Effect of changes in discount rate assumptions	(436)		336		(400)		2		(498)
Balance – end of period	$	2,331	$	14,167	$	15,471	$	1,320	$	33,289

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries


Liability for Future Policy Benefits	March 31, 2026

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	764	$	9,424	$	3,799	$	768	$	14,755
Deferred profit liability	323		2,210		243		128		2,904
Net liability for future policy benefits, before reinsurance recoverable	1,087		11,634		4,042		896		17,659
Less: Reinsurance recoverable on future policy benefits	110		48		125		1		284
Net liability for future policy benefits, after reinsurance recoverable	$	977	$	11,586	$	3,917	$	895	$	17,375
Weighted average duration (years)	11.1		25.8		10.0		27.2		21.4


Present Value of Expected Net Premiums	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	1,523	$	4,405	$	11,626	$	125	$	17,679
Beginning balance at original discount rate	1,819		4,303		11,499		124		17,745
Effect of changes in cash flow assumptions	—		(4)		(5)		—		(9)
Effect of actual variances from expected experience	7		23		(93)		—		(63)
Adjusted beginning of period balance	1,826		4,322		11,401		124		17,673
Issuances	65		288		599		208		1,160
Interest accrual	14		32		133		2		181
Net premiums collected (1)	(59)		(311)		(370)		(61)		(801)

Other (including foreign exchange)	(6)		(19)		(86)		2		(109)
Ending balance at original discount rate	1,840		4,312		11,677		275		18,104
Effect of changes in discount rate assumptions	(295)		111		212		1		29
Balance – end of period	$	1,545	$	4,423	$	11,889	$	276	$	18,133

(1)Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries


Present Value of Expected Future Policy Benefits	Three Months Ended March 31, 2025

(in millions of U.S. dollars)	Term Life		Whole Life		A&H		Other		Total
Balance – beginning of period	$	2,238	$	12,057	$	15,693	$	647	$	30,635
Beginning balance at original discount rate	2,647		11,242		15,652		601		30,142
Effect of changes in cash flow assumptions	—		(10)		2		—		(8)
Effect of actual variances from expected experience	10		24		(95)		—		(61)
Adjusted beginning of period balance	2,657		11,256		15,559		601		30,073
Issuances	65		288		599		208		1,160
Interest accrual	19		90		165		6		280
Benefit payments	(51)		(78)		(421)		(6)		(556)

Other (including foreign exchange)	(6)		(32)		(127)		3		(162)
Ending balance at original discount rate	2,684		11,524		15,775		812		30,795
Effect of changes in discount rate assumptions	(416)		905		155		45		689
Balance – end of period	$	2,268	$	12,429	$	15,930	$	857	$	31,484


Liability for Future Policy Benefits	March 31, 2025

(in millions of U.S. dollars, except for years)	Term Life		Whole Life		A&H		Other		Total
Net liability for future policy benefits	$	723	$	8,006	$	4,041	$	581	$	13,351
Deferred profit liability	291		1,351		202		64		1,908
Net liability for future policy benefits, before reinsurance recoverable	1,014		9,357		4,243		645		15,259
Less: Reinsurance recoverable on future policy benefits	108		45		114		—		267
Net liability for future policy benefits, after reinsurance recoverable	$	906	$	9,312	$	4,129	$	645	$	14,992
Weighted average duration (years)	10.5		27.9		9.9		23.5		21.8

The following table presents a reconciliation of the roll-forwards above to the Future policy benefits liability presented in the Consolidated balance sheets.


	March 31
(in millions of U.S. dollars)	2026		2025
Net liability for future policy benefits	$	14,755	$	13,351
Other (1)	1,614		1,431
Deferred profit liability	2,904		1,908
Liability for future policy benefits, per consolidated balance sheet	$	19,273	$	16,690

(1)Other business principally comprises certain Overseas General Insurance accident and health (A&H) policies and certain Chubb Life Re business.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

The following table presents the amount of undiscounted and discounted expected gross premiums and expected future policy benefit payments included in the Life Insurance segment:


	March 31		March 31
(in millions of U.S. dollars)	2026		2025

Term Life
Undiscounted expected future benefit payments	$	4,636	$	4,266
Undiscounted expected future gross premiums	6,838		6,595
Discounted expected future benefit payments	2,331		2,268
Discounted expected future gross premiums	4,609		4,460
Whole Life
Undiscounted expected future benefit payments	33,780		29,099
Undiscounted expected future gross premiums	11,052		10,390
Discounted expected future benefit payments	14,167		12,429
Discounted expected future gross premiums	9,213		8,518
A&H
Undiscounted expected future benefit payments	26,758		26,695
Undiscounted expected future gross premiums	39,618		39,108
Discounted expected future benefit payments	15,471		15,930
Discounted expected future gross premiums	23,867		23,346
Other
Undiscounted expected future benefit payments	2,530		1,556
Undiscounted expected future gross premiums	851		478
Discounted expected future benefit payments	1,320		857
Discounted expected future gross premiums	798		437

The following table presents the amount of revenue and interest recognized in the Consolidated statements of operations for the Life insurance segment:


	Gross Premiums or Assessments				Interest Accretion
	Three Months Ended				Three Months Ended
	March 31				March 31
(in millions of U.S. dollars)	2026		2025		2026		2025

Term Life	$	186	$	170	$	6	$	5

Whole Life	954		563		76		58
A&H	802		752		32		32
Other	176		89		5		4


Total	$	2,118	$	1,574	$	119	$	99

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

The following table presents the weighted-average interest rates for the Life Insurance segment:


	Interest Accretion Rate				Current Discount Rate

	March 31				March 31
	2026		2025		2026		2025

Term Life	3.2	%	3.0	%	6.1	%	5.6	%

Whole Life	3.6	%	3.5	%	4.4	%	4.0	%
A&H	4.3	%	4.1	%	6.1	%	5.7	%
Other	3.3	%	3.2	%	3.7	%	3.6	%

10. Policyholders' account balances, Separate accounts, and Unearned revenue liabilities

Policyholders' account balances

The following tables present a roll-forward of policyholders' account balances:


	Three Months Ended March 31, 2026
(in millions of U.S. dollars)	Universal Life		Annuities (4)		Other investment contracts (5)		Total
Balance – beginning of period	$	1,899	$	2,801	$	2,531	$	7,231


Premiums received	61		80		246		387
Policy charges (1)	(23)		—		(2)		(25)
Surrenders and withdrawals	(33)		(8)		(50)		(91)
Benefit payments (2)	(95)		(69)		(16)		(180)

Interest credited	12		13		18		43
Other (including foreign exchange)	10		79		(37)		52
Balance – end of period	$	1,831	$	2,896	$	2,690	$	7,417
Unearned revenue liability							762
Other (3)							603
Policyholders' account liability, per consolidated balance sheet							$	8,782

(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.

(2)Includes payments for survival and death benefits.

(3)Primarily comprises unpaid dividends on certain participating policies.

(4)Relates to Huatai Life.

(5)Primarily comprises policyholder account balances related to investment linked products including endowment and investment contracts, none of which bear significant insurance risk.

Table of Contents

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – continued (Unaudited)

Chubb Limited and Subsidiaries

Three Months Ended March 31, 2025

(in millions of U.S. dollars)

Universal Life

Annuities (4)

Other investment contracts (5)

Total

Balance – beginning of period

1,809

Chubb Ltd 10-Q