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Information provided in connection with outstanding debt of subsidiaries
 12 Months Ended
Dec. 31, 2015
Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract]  
Information provided in connection with outstanding debt of subsidiaries
Information provided in connection with outstanding debt of subsidiaries

The following tables present condensed consolidating financial information at December 31, 2015 and December 31, 2014, and for the years ended December 31, 2015, 2014, and 2013 for Chubb Limited (Parent Guarantor) and ACE INA Holdings, Inc. (Subsidiary Issuer). The Subsidiary Issuer is an indirect 100 percent-owned subsidiary of the Parent Guarantor. The Parent Guarantor fully and unconditionally guarantees certain of the debt of the Subsidiary Issuer. Condensed consolidating financial information of the Parent Guarantor and Subsidiary Issuer are presented on the equity method of accounting. The revenues and expenses and cash flows of the subsidiaries of the Subsidiary Issuer are presented in the Other Chubb Limited Subsidiaries column on a combined basis.

Condensed Consolidating Balance Sheet at December 31, 2015
(in millions of U.S. dollars)
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

Assets
 
 
 
 
 
 
 
 
 
Investments
$
28

 
$
7,839

 
$
58,384

 
$
—

 
$
66,251

Cash(1)
1

 
2

 
2,743

 
(971
)
 
1,775

Insurance and reinsurance balances receivable
—

 
—

 
6,075

 
(752
)
 
5,323

Reinsurance recoverable on losses and loss expenses
—

 
—

 
20,124

 
(8,738
)
 
11,386

Reinsurance recoverable on policy benefits
—

 
—

 
1,129

 
(942
)
 
187

Value of business acquired
—

 
—

 
395

 
—

 
395

Goodwill and other intangible assets
—

 
—

 
5,683

 
—

 
5,683

Investments in subsidiaries
29,612

 
18,386

 
—

 
(47,998
)
 
—

Due from subsidiaries and affiliates, net
644

 
1,800

 
—

 
(2,444
)
 
—

Other assets
8

 
517

 
14,434

 
(3,593
)
 
11,366

Total assets
$
30,293

 
$
28,544

 
$
108,967

 
$
(65,438
)
 
$
102,366

Liabilities
 
 
 
 
 
 
 
 
 
Unpaid losses and loss expenses
$
—

 
$
—

 
$
45,490

 
$
(8,187
)
 
$
37,303

Unearned premiums
—

 
—

 
10,243

 
(1,804
)
 
8,439

Future policy benefits
—

 
—

 
5,749

 
(942
)
 
4,807

Due to subsidiaries and affiliates, net
—

 
—

 
2,444

 
(2,444
)
 
—

Affiliated notional cash pooling programs(1)
882

 
89

 
—

 
(971
)
 
—

Repurchase agreements
—

 
—

 
1,404

 
—

 
1,404

Long-term debt
—

 
9,436

 
11

 
—

 
9,447

Trust preferred securities
—

 
309

 
—

 
—

 
309

Other liabilities
276

 
1,422

 
12,916

 
(3,092
)
 
11,522

Total liabilities
1,158

 
11,256

 
78,257

 
(17,440
)
 
73,231

Total shareholders’ equity
29,135

 
17,288

 
30,710

 
(47,998
)
 
29,135

Total liabilities and shareholders’ equity
$
30,293

 
$
28,544

 
$
108,967

 
$
(65,438
)
 
$
102,366

(1) 
Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

Condensed Consolidating Balance Sheet at December 31, 2014
(in millions of U.S. dollars)
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

Assets
 
 
 
 
 
 
 
 
 
Investments
$
30

 
$
225

 
$
62,649

 
$
—

 
$
62,904

Cash(1)
—

 
1

 
1,209

 
(555
)
 
655

Insurance and reinsurance balances receivable
—

 
—

 
6,178

 
(752
)
 
5,426

Reinsurance recoverable on losses and loss expenses
—

 
—

 
20,992

 
(9,000
)
 
11,992

Reinsurance recoverable on policy benefits
—

 
—

 
1,194

 
(977
)
 
217

Value of business acquired
—

 
—

 
466

 
—

 
466

Goodwill and other intangible assets
—

 
—

 
5,724

 
—

 
5,724

Investments in subsidiaries
29,497

 
18,762

 
—

 
(48,259
)
 
—

Due from subsidiaries and affiliates, net
583

 
—

 
—

 
(583
)
 
—

Other assets
4

 
295

 
14,196

 
(3,631
)
 
10,864

Total assets
$
30,114

 
$
19,283

 
$
112,608

 
$
(63,757
)
 
$
98,248

Liabilities
 
 
 
 
 
 
 
 
 
Unpaid losses and loss expenses
$
—

 
$
—

 
$
46,770

 
$
(8,455
)
 
$
38,315

Unearned premiums
—

 
—

 
9,958

 
(1,736
)
 
8,222

Future policy benefits
—

 
—

 
5,731

 
(977
)
 
4,754

Due to subsidiaries and affiliates, net
—

 
422

 
161

 
(583
)
 
—

Affiliated notional cash pooling programs(1)
246

 
309

 
—

 
(555
)
 
—

Repurchase agreements
—

 
—

 
1,402

 
—

 
1,402

Short-term debt
—

 
1,150

 
—

 
—

 
1,150

Long-term debt
—

 
3,345

 
12

 
—

 
3,357

Trust preferred securities
—

 
309

 
—

 
—

 
309

Other liabilities
281

 
1,404

 
12,659

 
(3,192
)
 
11,152

Total liabilities
527

 
6,939

 
76,693

 
(15,498
)
 
68,661

Total shareholders’ equity
29,587

 
12,344

 
35,915

 
(48,259
)
 
29,587

Total liabilities and shareholders’ equity
$
30,114

 
$
19,283

 
$
112,608

 
$
(63,757
)
 
$
98,248

(1) 
Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2014, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.














Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2015
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

(in millions of U.S. dollars)
 
 
 
 
Net premiums written
$
—

 
$
—

 
$
17,713

 
$
—

 
$
17,713

Net premiums earned
—

 
—

 
17,213

 
—

 
17,213

Net investment income
3

 
4

 
2,187

 
—

 
2,194

Equity in earnings of subsidiaries
2,673

 
1,038

 
—

 
(3,711
)
 
—

Net realized gains (losses) including OTTI
—

 
(9
)
 
(411
)
 
—

 
(420
)
Losses and loss expenses
—

 
—

 
9,484

 
—

 
9,484

Policy benefits
—

 
—

 
543

 
—

 
543

Policy acquisition costs and administrative expenses
63

 
28

 
5,120

 
—

 
5,211

Interest (income) expense
(32
)
 
302

 
30

 
—

 
300

Other (income) expense
(208
)
 
(4
)
 
161

 
—

 
(51
)
Amortization of intangible assets
—

 
—

 
171

 
—

 
171

Chubb integration expenses
3

 
29

 
1

 
—

 
33

Income tax expense (benefit)
16

 
(349
)
 
795

 
—

 
462

Net income
$
2,834

 
$
1,027

 
$
2,684

 
$
(3,711
)
 
$
2,834

Comprehensive income (loss)
$
908

 
$
(192
)
 
$
757

 
$
(565
)
 
$
908


Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2014
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

(in millions of U.S. dollars)
 
 
 
 
Net premiums written
$
—

 
$
—

 
$
17,799

 
$
—

 
$
17,799

Net premiums earned
—

 
—

 
17,426

 
—

 
17,426

Net investment income
2

 
2

 
2,248

 
—

 
2,252

Equity in earnings of subsidiaries
2,707

 
791

 
—

 
(3,498
)
 
—

Net realized gains (losses) including OTTI
—

 
53

 
(560
)
 
—

 
(507
)
Losses and loss expenses
—

 
—

 
9,649

 
—

 
9,649

Policy benefits
—

 
—

 
517

 
—

 
517

Policy acquisition costs and administrative expenses
78

 
26

 
5,216

 
—

 
5,320

Interest (income) expense
(35
)
 
277

 
38

 
—

 
280

Other (income) expense
(201
)
 
27

 
(16
)
 
—

 
(190
)
Amortization of intangible assets
—

 
—

 
108

 
—

 
108

Income tax expense (benefit)
14

 
(94
)
 
714

 
—

 
634

Net income
$
2,853

 
$
610

 
$
2,888

 
$
(3,498
)
 
$
2,853

Comprehensive income
$
2,892

 
$
583

 
$
2,926

 
$
(3,509
)
 
$
2,892






Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2013
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

(in millions of U.S. dollars)
 
 
 
 
Net premiums written
$
—

 
$
—

 
$
17,025

 
$
—

 
$
17,025

Net premiums earned
—

 
—

 
16,613

 
—

 
16,613

Net investment income
2

 
3

 
2,139

 
—

 
2,144

Equity in earnings of subsidiaries
3,580

 
942

 
—

 
(4,522
)
 
—

Net realized gains (losses) including OTTI
—

 
(2
)
 
506

 
—

 
504

Losses and loss expenses
—

 
—

 
9,348

 
—

 
9,348

Policy benefits
—

 
—

 
515

 
—

 
515

Policy acquisition costs and administrative expenses
60

 
19

 
4,791

 
—

 
4,870

Interest (income) expense
(32
)
 
270

 
37

 
—

 
275

Other (income) expense
(221
)
 
27

 
114

 
—

 
(80
)
Amortization of intangible assets
—

 
—

 
95

 
—

 
95

Income tax expense (benefit)
17

 
(108
)
 
571

 
—

 
480

Net income
$
3,758

 
$
735

 
$
3,787

 
$
(4,522
)
 
$
3,758

Comprehensive income (loss)
$
2,023

 
$
(230
)
 
$
2,051

 
$
(1,821
)
 
$
2,023




Condensed Consolidating Statement of Cash Flows 
For the Year Ended December 31, 2015
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

(in millions of U.S. dollars)
 
 
 
 
Net cash flows from operating activities
$
3,125

 
$
682

 
$
3,836

 
$
(3,779
)
 
$
3,864

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
Purchases of fixed maturities available for sale
—

 
—

 
(16,053
)
 
(18
)
 
(16,071
)
Purchases of fixed maturities held to maturity
—

 
—

 
(62
)
 
—

 
(62
)
Purchases of equity securities
—

 
—

 
(158
)
 
—

 
(158
)
Sales of fixed maturities available for sale
—

 
—

 
10,814

 
—

 
10,814

Sales of equity securities
—

 
—

 
183

 
—

 
183

Maturities and redemptions of fixed maturities available for sale
—

 
—

 
6,567

 
—

 
6,567

Maturities and redemptions of fixed maturities held to maturity
—

 
—

 
669

 
—

 
669

Net change in short-term investments
—

 
(7,588
)
 
(628
)
 
—

 
(8,216
)
Net derivative instruments settlements
—

 
(9
)
 
(12
)
 
—

 
(21
)
Acquisition of subsidiaries (net of cash acquired of $629)
—

 
—

 
264

 
—

 
264

Capital contribution
(2,670
)
 
(625
)
 
(2,791
)
 
6,086

 
—

Other
—

 
(25
)
 
(256
)
 
18

 
(263
)
Net cash flows used for investing activities
(2,670
)
 
(8,247
)
 
(1,463
)
 
6,086

 
(6,294
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
Dividends paid on Common Shares
(862
)
 
—

 
—

 
—

 
(862
)
Common Shares repurchased
—

 
—

 
(758
)
 
—

 
(758
)
Proceeds from issuance of long-term debt
—

 
6,090

 
—

 
—

 
6,090

Proceeds from issuance of repurchase agreements
—

 
—

 
2,029

 
—

 
2,029

Repayment of long-term debt
—

 
(1,150
)
 
—

 
—

 
(1,150
)
Repayment of repurchase agreements
—

 
—

 
(2,027
)
 
—

 
(2,027
)
Proceeds from share-based compensation plans, including windfall tax benefits
—

 
—

 
131

 
—

 
131

Advances (to) from affiliates
(228
)
 
95

 
133

 
—

 
—

Dividends to parent company
—

 
—

 
(3,779
)
 
3,779

 
—

Capital contribution
—

 
2,791

 
3,295

 
(6,086
)
 
—

Net proceeds from affiliated notional cash pooling programs(1)
636

 
(220
)
 
—

 
(416
)
 
—

Policyholder contract deposits
—

 
—

 
503

 
—

 
503

Policyholder contract withdrawals
—

 
—

 
(221
)
 
—

 
(221
)
Other
—

 
(40
)
 
—

 
—

 
(40
)
Net cash flows (used for) from financing activities
(454
)
 
7,566

 
(694
)
 
(2,723
)
 
3,695

Effect of foreign currency rate changes on cash and cash equivalents
—

 
—

 
(145
)
 
—

 
(145
)
Net (decrease) increase in cash
1

 
1

 
1,534

 
(416
)
 
1,120

Cash – beginning of year(1)
—

 
1

 
1,209

 
(555
)
 
655

Cash – end of year(1)
$
1

 
$
2

 
$
2,743

 
$
(971
)
 
$
1,775

(1) 
Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2015 and 2014, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2014
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

(in millions of U.S. dollars)
 
 
 
 
Net cash flows from (used for) operating activities
$
541

 
$
210

 
$
4,419

 
$
(674
)
 
$
4,496

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
Purchases of fixed maturities available for sale
—

 
—

 
(15,816
)
 
263

 
(15,553
)
Purchases of fixed maturities held to maturity
—

 
—

 
(267
)
 
—

 
(267
)
Purchases of equity securities
—

 
—

 
(251
)
 
—

 
(251
)
Sales of fixed maturities available for sale
—

 
—

 
7,750

 
(268
)
 
7,482

Sales of equity securities
—

 
—

 
670

 
—

 
670

Maturities and redemptions of fixed maturities available for sale
—

 
—

 
6,413

 
—

 
6,413

Maturities and redemptions of fixed maturities held to maturity
—

 
—

 
875

 
—

 
875

Net change in short-term investments
—

 
(216
)
 
(392
)
 
5

 
(603
)
Net derivative instruments settlements
—

 
53

 
(283
)
 
—

 
(230
)
Acquisition of subsidiaries (net of cash acquired of $20)
—

 
—

 
(766
)
 
—

 
(766
)
Capital contribution
—

 
(258
)
 
—

 
258

 
—

Other
—

 
(8
)
 
(266
)
 
—

 
(274
)
Net cash flows used for investing activities
—

 
(429
)
 
(2,333
)
 
258

 
(2,504
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
Dividends paid on Common Shares
(862
)
 
—

 
—

 
—

 
(862
)
Common Shares repurchased
—

 
—

 
(1,429
)
 
—

 
(1,429
)
Proceeds from issuance of long-term debt
—

 
699

 
—

 
—

 
699

Proceeds from the issuance of repurchase agreements
—

 
—

 
1,978

 
—

 
1,978

Repayment of long-term debt
—

 
(500
)
 
(1
)
 
—

 
(501
)
Repayment of repurchase agreements
—

 
—

 
(1,977
)
 
—

 
(1,977
)
Proceeds from share-based compensation plans, including windfall tax benefits
—

 
—

 
127

 
—

 
127

Advances (to) from affiliates
260

 
(298
)
 
38

 
—

 
—

Dividends to parent company
—

 
—

 
(674
)
 
674

 
—

Capital contribution
—

 
—

 
258

 
(258
)
 
—

Net proceeds from (payments to) affiliated notional cash pooling programs(1)
61

 
309

 
—

 
(370
)
 
—

Policyholder contract deposits
—

 
—

 
366

 
—

 
366

Policyholder contract withdrawals
—

 
—

 
(172
)
 
—

 
(172
)
Other
—

 
(6
)
 
—

 
—

 
(6
)
Net cash flows (used for) from financing activities
(541
)
 
204

 
(1,486
)
 
46

 
(1,777
)
Effect of foreign currency rate changes on cash and cash equivalents
—

 
—

 
(139
)
 
—

 
(139
)
Net (decrease) increase in cash
—

 
(15
)
 
461

 
(370
)
 
76

Cash – beginning of year(1)
—

 
16

 
748

 
(185
)
 
579

Cash – end of year(1)
$
—

 
$
1

 
$
1,209

 
$
(555
)
 
$
655

(1)
Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2014 and 2013, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2013
Chubb Limited
(Parent
Guarantor)

 
ACE INA
Holdings Inc.
(Subsidiary
Issuer)

 
Other Chubb
Limited
Subsidiaries

 
Consolidating
Adjustments and Eliminations

 
Chubb Limited
Consolidated

(in millions of U.S. dollars)
 
 
 
 
Net cash flows from (used for) operating activities
$
970

 
$
(107
)
 
$
3,984

 
$
(825
)
 
$
4,022

Cash flows from investing activities
 
 
 
 
 
 
 
 
 
Purchases of fixed maturities available for sale
—

 
—

 
(21,504
)
 
106

 
(21,398
)
Purchases of fixed maturities held to maturity
—

 
—

 
(447
)
 
—

 
(447
)
Purchases of equity securities
—

 
—

 
(264
)
 
—

 
(264
)
Sales of fixed maturities available for sale
—

 
—

 
10,519

 
(106
)
 
10,413

Sales of equity securities
—

 
—

 
142

 
—

 
142

Maturities and redemptions of fixed maturities available for sale
—

 
—

 
6,941

 
—

 
6,941

Maturities and redemptions of fixed maturities held to maturity
—

 
—

 
1,488

 
—

 
1,488

Net change in short-term investments
(1
)
 
4

 
521

 
—

 
524

Net derivative instruments settlements
—

 
(1
)
 
(470
)
 
—

 
(471
)
Capital contribution
(133
)
 
(1,097
)
 
—

 
1,230

 
—

Acquisition of subsidiaries (net of cash acquired of $38)
—

 
—

 
(977
)
 
—

 
(977
)
Other
—

 
(4
)
 
(389
)
 
—

 
(393
)
Net cash flows used for investing activities
(134
)
 
(1,098
)
 
(4,440
)
 
1,230

 
(4,442
)
Cash flows from financing activities
 
 
 
 
 
 
 
 
 
Dividends paid on Common Shares
(517
)
 
—

 
—

 
—

 
(517
)
Common Shares repurchased
—

 
—

 
(287
)
 
—

 
(287
)
Proceeds from issuance of long-term debt
—

 
947

 
—

 
 
 
947

Proceeds from issuance of repurchase agreements
—

 
—

 
2,572

 
—

 
2,572

Repayment of repurchase agreements
—

 
—

 
(2,572
)
 
—

 
(2,572
)
Proceeds from share-based compensation plans, including windfall tax benefits
14

 
—

 
121

 
—

 
135

Advances from (to) affiliates
(621
)
 
621

 
—

 
—

 
—

Dividends to parent company
—

 
—

 
(825
)
 
825

 
—

Capital contribution
—

 
—

 
1,230

 
(1,230
)
 
—

Net proceeds from (payments to) affiliated notional cash pooling programs(1)
185

 
(349
)
 
—

 
164

 
—

Policyholder contract deposits
—

 
—

 
233

 
—

 
233

Policyholder contract withdrawals
—

 
—

 
(120
)
 
—

 
(120
)
Other
—

 
—

 
—

 
—

 
—

Net cash flows (used for) from financing activities
(939
)
 
1,219

 
352

 
(241
)
 
391

Effect of foreign currency rate changes on cash and cash equivalents
—

 
—

 
(7
)
 
—

 
(7
)
Net increase (decrease) in cash
(103
)
 
14

 
(111
)
 
164

 
(36
)
Cash – beginning of year(1)
103

 
2

 
859

 
(349
)
 
615

Cash – end of year(1)
$
—

 
$
16

 
$
748

 
$
(185
)
 
$
579


(1)
Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2013 and 2012, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.