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Component: (Network and Table)
Network
2313301 - Disclosure - Postretirement benefits (Tables)
(http://investors.chubb.com/role/PostretirementBenefitsTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Schedule of Net Funded Status [Table Text Block]
Obligations and funded status
The funded status of the pension and other postretirement benefit plans at December 31, 2016 and 2015 was as follows:
 
Pension Benefits
 
 
Other Postretirement Benefits
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

(in millions of U.S. dollars)
 
 
 
 
 
 
Benefit obligation, beginning of year
$
10

 
$
559

 
$
10

 
$
584

 
$
16

 
$

 
$
16

 
$

   Acquisition of Chubb Corp
3,153

 
372

 

 

 
491

 
15

 

 

   Service cost
75

 
18

 

 
6

 
9

 
1

 
1

 

   Interest cost
103

 
30

 

 
21

 
16

 
1

 

 

   Actuarial loss
131

 
204

 

 
13

 
33

 
3

 
(1
)
 

   Benefits paid
(79
)
 
(22
)
 

 
(22
)
 
(11
)
 

 

 

   Amendments

 
(9
)
 

 
1

 
(410
)
 

 

 

   Curtailments
(259
)
 
(7
)
 

 

 

 

 

 

   Settlements
(99
)
 
(7
)
 

 
(7
)
 

 

 

 

   Foreign currency revaluation

 
(113
)
 

 
(37
)
 

 
1

 

 

Benefit obligation, end of year
$
3,035

 
$
1,025

 
$
10

 
$
559

 
$
144

 
$
21

 
$
16

 
$

Plan assets at fair value, beginning of year
$
9

 
$
564

 
$
9

 
$
579

 
$

 
$

 
$

 
$

   Acquisition of Chubb Corp
2,473

 
315

 

 

 
138

 

 

 

   Actual return on plan assets
359

 
168

 

 
40

 
29

 

 

 

   Employer contributions
98

 
67

 

 
10

 
3

 

 

 

   Benefits paid
(79
)
 
(22
)
 

 
(22
)
 
(11
)
 

 

 

   Settlements
(95
)
 
(7
)
 

 
(7
)
 

 

 

 

   Foreign currency revaluation

 
(123
)
 

 
(36
)
 

 

 

 

Plan assets at fair value, end of year
$
2,765

 
$
962

 
$
9

 
$
564

 
$
159

 
$

 
$

 
$

Funded status at end of year
$
(270
)
 
$
(63
)
 
$
(1
)
 
$
5

 
$
15

 
$
(21
)
 
$
(16
)
 
$

 
 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
 Net actuarial loss (gain) and prior service cost included in AOCI that were not yet recognized as components of net benefit costs in Net income at December 31, 2016 and 2015 were as follows:
 
Pension Benefits
 
 
Other Postretirement Benefits
 
 
2016
 
 
2015
 
 
2016
 
 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

(in millions of U.S. dollars)
 
 
 
 
Net actuarial loss (gain)
$
(207
)
 
$
156

 
$

 
$
107

 
$
14

 
$
3

Prior service cost

 
(2
)
 

 
7

 
(395
)
 

Total
$
(207
)
 
$
154

 
$

 
$
114

 
$
(381
)
 
$
3

 
 
Schedule of Assumptions Used [Table Text Block]
The weighted-average assumptions used to determine the projected benefit obligation were as follows:
 
Pension Benefits
 
 
Other Postretirement Benefits
 
 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
Discount rate
4.14
%
 
2.83
%
 
2.86
%
 
3.73
%
Rate of compensation increase
4.00
%
 
3.57
%
 
N/A

 
N/A

December 31, 2015
 
 
 
 
 
 
 
Discount rate
NM

 
3.61
%
 
NM

 
 
Rate of compensation increase
NM

 
3.05
%
 
NM

 
 
NM – not meaningful
 
 
 
 
 
 
 


The components of net pension and other postretirement benefit costs reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:
 
Pension Benefits
 
 
Other Postretirement Benefits
 
Year Ended December 31, 2016
U.S. Plans

 
Non-U.S. Plans

 
Total

 
U.S. Plans

 
Non-U.S. Plans

 
Total

(in millions of U.S. dollars)
 
 
 
 
 
Costs reflected in Net income:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
75

 
$
18

 
$
93

 
$
9

 
$
1

 
$
10

Interest cost
103

 
30

 
133

 
16

 
1

 
17

Expected return on plan assets
(165
)
 
(39
)
 
(204
)
 
(8
)
 

 
(8
)
Amortization of net actuarial loss (gain)

 
2

 
2

 
(1
)
 

 
(1
)
Amortization of prior service cost

 
(1
)
 
(1
)
 
(15
)
 

 
(15
)
Curtailments
(117
)
 

 
(117
)
 

 

 

Settlements
(2
)
 
1

 
(1
)
 

 

 

Net periodic (benefit) cost
$
(106
)
 
$
11

 
$
(95
)
 
$
1

 
$
2

 
$
3

Changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
$
(326
)
 
$
49

 
$
(277
)
 
$
14

 
$
3

 
$
17

Prior service benefit

 
(8
)
 
(8
)
 
(395
)
 

 
(395
)
Curtailments
117

 

 
117

 

 

 

Settlements
2

 
(1
)
 
1

 

 

 

Total (increase) decrease in other comprehensive income
$
(207
)
 
$
40

 
$
(167
)
 
$
(381
)
 
$
3

 
$
(378
)
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Costs reflected in Net income:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$
6

 
$
6

 
$
1

 
$

 
$
1

Interest cost

 
21

 
21

 

 

 

Expected return on plan assets

 
(29
)
 
(29
)
 

 

 

Amortization of net actuarial loss

 
2

 
2

 
(1
)
 

 
(1
)
Settlements

 
1

 
1

 

 

 

Net periodic benefit cost
$

 
$
1

 
$
1

 
$

 
$

 
$

Changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
$

 
$
(16
)
 
$
(16
)
 
$

 
$

 
$

Prior service cost

 
1

 
1

 

 

 

Total increase in other comprehensive income
$

 
$
(15
)
 
$
(15
)
 
$

 
$

 
$

Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Costs reflected in Net income:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$
6

 
$
6

 
$
1

 
$

 
$
1

Interest cost

 
25

 
25

 

 

 

Expected return on plan assets

 
(30
)
 
(30
)
 

 

 

Amortization of net actuarial loss

 
2

 
2

 
1

 

 
1

Net periodic benefit cost
$

 
$
3

 
$
3

 
$
2

 
$

 
$
2

Changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
$

 
$
(10
)
 
$
(10
)
 
$

 
$

 
$

Prior service cost

 
8

 
8

 

 

 

Total increase in other comprehensive income
$

 
$
(2
)
 
$
(2
)
 
$

 
$

 
$



The estimated net actuarial loss that will be amortized from AOCI into net periodic benefit costs in Net income for Non-U.S. pension plans during 2017 is $3 million. The estimated net prior service credit that will be amortized from AOCI into net periodic benefit costs in Net income during 2017 for U.S. other postretirement benefit plans is $92 million.

The weighted-average assumptions used to determine the net periodic pension and other postretirement benefit costs were as follows:
 
Pension Benefits
 
 
Other Postretirement Benefits
 
 
U.S. Plans

 
Non-U.S. Plans

 
U.S. Plans

 
Non-U.S. Plans

Year Ended December 31
 
 
 
2016
 
 
 
 
 
 
 
Discount rate in effect for determining service cost
4.38
%
 
3.85
%
 
4.56
%
 
4.30
%
Discount rate in effect for determining interest cost
3.59
%
 
3.44
%
 
3.82
%
 
4.30
%
Rate of compensation increase
4.00
%
 
3.33
%
 
N/A

 
N/A

Expected long-term rate of return on plan assets
7.00
%
 
4.79
%
 
6.34
%
 
N/A

2015
 
 
 
 
 
 
 
Discount rate
NM

 
3.51
%
 
NM

 
 
Rate of compensation increase
NM

 
3.09
%
 
NM

 
 
Expected long-term rate of return on plan assets
NM

 
4.81
%
 
NM

 
 
2014
 
 
 
 
 
 
 
Discount rate
NM

 
4.21
%
 
NM

 
 
Rate of compensation increase
NM

 
3.43
%
 
NM

 
 
Expected long-term rate of return on plan assets
NM

 
5.34
%
 
NM

 
 
NM – not meaningful
 
 
 
 
 
 
 
 
 
Schedule of Net Benefit Costs [Table Text Block]
The components of net pension and other postretirement benefit costs reflected in Net income and other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:
 
Pension Benefits
 
 
Other Postretirement Benefits
 
Year Ended December 31, 2016
U.S. Plans

 
Non-U.S. Plans

 
Total

 
U.S. Plans

 
Non-U.S. Plans

 
Total

(in millions of U.S. dollars)
 
 
 
 
 
Costs reflected in Net income:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
75

 
$
18

 
$
93

 
$
9

 
$
1

 
$
10

Interest cost
103

 
30

 
133

 
16

 
1

 
17

Expected return on plan assets
(165
)
 
(39
)
 
(204
)
 
(8
)
 

 
(8
)
Amortization of net actuarial loss (gain)

 
2

 
2

 
(1
)
 

 
(1
)
Amortization of prior service cost

 
(1
)
 
(1
)
 
(15
)
 

 
(15
)
Curtailments
(117
)
 

 
(117
)
 

 

 

Settlements
(2
)
 
1

 
(1
)
 

 

 

Net periodic (benefit) cost
$
(106
)
 
$
11

 
$
(95
)
 
$
1

 
$
2

 
$
3

Changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
$
(326
)
 
$
49

 
$
(277
)
 
$
14

 
$
3

 
$
17

Prior service benefit

 
(8
)
 
(8
)
 
(395
)
 

 
(395
)
Curtailments
117

 

 
117

 

 

 

Settlements
2

 
(1
)
 
1

 

 

 

Total (increase) decrease in other comprehensive income
$
(207
)
 
$
40

 
$
(167
)
 
$
(381
)
 
$
3

 
$
(378
)
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Costs reflected in Net income:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$
6

 
$
6

 
$
1

 
$

 
$
1

Interest cost

 
21

 
21

 

 

 

Expected return on plan assets

 
(29
)
 
(29
)
 

 

 

Amortization of net actuarial loss

 
2

 
2

 
(1
)
 

 
(1
)
Settlements

 
1

 
1

 

 

 

Net periodic benefit cost
$

 
$
1

 
$
1

 
$

 
$

 
$

Changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
$

 
$
(16
)
 
$
(16
)
 
$

 
$

 
$

Prior service cost

 
1

 
1

 

 

 

Total increase in other comprehensive income
$

 
$
(15
)
 
$
(15
)
 
$

 
$

 
$

Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Costs reflected in Net income:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$
6

 
$
6

 
$
1

 
$

 
$
1

Interest cost

 
25

 
25

 

 

 

Expected return on plan assets

 
(30
)
 
(30
)
 

 

 

Amortization of net actuarial loss

 
2

 
2

 
1

 

 
1

Net periodic benefit cost
$

 
$
3

 
$
3

 
$
2

 
$

 
$
2

Changes in plan assets and benefit obligations recognized in other comprehensive income
 
 
 
 
 
 
 
 
 
 
 
Net actuarial loss (gain)
$

 
$
(10
)
 
$
(10
)
 
$

 
$

 
$

Prior service cost

 
8

 
8

 

 

 

Total increase in other comprehensive income
$

 
$
(2
)
 
$
(2
)
 
$

 
$

 
$

 
 
Schedule of Health Care Cost Trend Rates [Table Text Block]
The weighted average healthcare cost trend rate assumptions used to measure the expected cost of healthcare benefits were as follows:
 
U.S. Plans
 
 
Non-U.S. Plans

 
2016

 
2015

 
2014

 
2016

Healthcare cost trend rate
7.28
%
 
6.50
%
 
6.50
%
 
6.61
%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
4.50
%
 
4.50
%
 
4.50
%
 
4.50
%
Year that the rate reaches the ultimate trend rate
2038

 
2026

 
2026

 
2029

 
 
Schedule of Allocation of Plan Assets [Table Text Block]
The following table presents the fair values of the pension plan assets, by valuation hierarchy. For additional information on how we classify these assets within the valuation hierarchy, refer to Note 4 to the Consolidated financial statements.
December 31, 2016
Pension Benefits
 
(in millions of U.S. dollars)
Level 1

 
Level 2

 
Level 3

 
Total

U.S. Plans
 
 
 
 
 
 
 
Short-term investments
$

 
$
43

 
$

 
$
43

U.S. Treasury and agency
206

 
112

 

 
318

Foreign and corporate bonds

 
482

 
5

 
487

Equity securities
728

 

 

 
728

Derivative instruments
3

 

 

 
3

Total U.S. Plan assets (1)
$
937

 
$
637

 
$
5

 
$
1,579

Non-U.S. Plans
 
 
 
 
 
 
 
Short-term investments
$
2

 
$

 
$

 
$
2

Foreign and corporate bonds

 
435

 

 
435

Equity securities
100

 
412

 

 
512

Total Non-U.S. Plan assets (1)
$
102

 
$
847

 
$

 
$
949

(1) 
Excluded from the table above are $1.2 billion and $13 million of investments measured using NAV as a practical expedient
 
 
Schedule of expected future benefit payments
Expected future payments are as follows:
For the years ending December 31
U.S. Plans

 
Non-U.S. Plans

(in millions of U.S. dollars)
 
2017
$
132

 
$
20

2018
143

 
23

2019
158

 
25

2020
167

 
26

2021
177

 
27

2022–2026
931

 
147