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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Assets    
Fixed maturities available for sale, at fair value (amortized cost - $48,406 and $44,666) (includes hybrid financial instruments of $302 and $309) $ 49,254 $ 47,306
Fixed maturities held to maturity, at amortized cost (fair value – $6,263 and $7,633) 6,098 7,270
Equity securities, at fair value (cost – $841 and $707) 837 744
Short-term investments, at fair value and amortized cost 1,763 2,228
Other investments (cost – $2,671 and $2,465) 2,976 2,716
Total investments 60,928 60,264
Cash 579 615
Securities lending collateral 1,632 1,791
Accrued investment income 556 552
Insurance and reinsurance balances receivable 5,026 4,147
Reinsurance recoverable on losses and loss expenses 11,227 12,078
Reinsurance recoverable on policy benefits 218 241
Deferred policy acquisition costs 2,313 1,873
Value of business acquired 536 614
Goodwill and other intangible assets 5,404 4,975
Prepaid reinsurance premiums 1,675 1,617
Deferred tax assets 616 453
Investments in partially-owned insurance companies (cost – $467 and $451) 470 454
Other assets 3,330 2,871
Total assets 94,510 92,545
Liabilities    
Unpaid losses and loss expenses 37,443 37,946
Unearned premiums 7,539 6,864
Future policy benefits 4,615 4,470
Insurance and reinsurance balances payable 3,628 3,472
Securities lending payable 1,633 1,795
Accounts payable, accrued expenses, and other liabilities 4,810 5,397
Short-term debt 1,901 1,401
Long-term debt 3,807 3,360
Trust preferred securities 309 309
Total liabilities 65,685 65,014
Shareholders' equity    
Common Shares (CHF 27.04 and CHF 28.89 par value; 342,832,412 shares issued; 339,793,935 and 340,321,534 shares outstanding) 8,899 9,591
Common Shares in treasury (3,038,477 and 2,510,878 shares) (255) (159)
Additional paid-in capital 5,238 5,179
Retained earnings 13,791 10,033
Accumulated other comprehensive income (AOCI) 1,152 2,887
Total shareholders’ equity 28,825 27,531
Total liabilities and shareholders’ equity $ 94,510 $ 92,545