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Schedule II
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED FINANCIAL INFORMATION OF REGISTRANT

BALANCE SHEETS (Parent Company Only)
 
December 31

 
December 31

(in millions of U.S. dollars)
2015

 
2014

Assets
 
 
 
Investments in subsidiaries and affiliates on equity basis
$
29,612

 
$
29,497

Short-term investments
1

 
1

Other investments, at cost
27

 
29

Total investments
29,640

 
29,527

Cash
1

 
—

Due from subsidiaries and affiliates, net
644

 
583

Other assets
8

 
4

Total assets
$
30,293

 
$
30,114

Liabilities
 
 
 
Affiliated notional cash pooling programs(1)
$
882

 
$
246

Accounts payable, accrued expenses, and other liabilities
276

 
281

Total liabilities
1,158

 
527

Shareholders' equity
 
 
 
Common Shares
7,833

 
8,055

Common Shares in treasury
(1,922
)
 
(1,448
)
Additional paid-in capital
4,481

 
5,145

Retained earnings
19,478

 
16,644

Accumulated other comprehensive income (loss)
(735
)
 
1,191

Total shareholders' equity
29,135

 
29,587

Total liabilities and shareholders' equity
$
30,293

 
$
30,114

 
 
 
 
(1) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information.
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF OPERATIONS (Parent Company Only)
 
Years Ended December 31
 
(in millions of U.S. dollars)
2015

2014

2013

Revenues
 
 
 
Investment income, including interest income
$
35

$
37

$
34

Equity in net income of subsidiaries and affiliates
2,673

2,707

3,580

Net realized gains (losses)
—

—

—

 
2,708

2,744

3,614

Expenses
 
 
 
Administrative and other (income) expense
(142
)
(123
)
(161
)
Income tax expense
16

14

17

 
(126
)
(109
)
(144
)
Net income
$
2,834

$
2,853

$
3,758

Comprehensive income
$
908

$
2,892

$
2,023

 
 
 
 
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF CASH FLOWS (Parent Company Only)
 
Year Ended December 31
 
(in millions of U.S. dollars)
2015

 
2014

 
2013

Net cash flows from operating activities(1)
$
3,125

 
$
541

 
$
970

Cash flows from investing activities
 
 
 
 
 
Net change in short-term investments
—

 
—

 
(1
)
Net derivative instruments settlements
—

 
—

 
—

Capital contribution
(2,670
)
 
—

 
(133
)
Net cash flows used for investing activities
(2,670
)
 
—

 
(134
)
Cash flows from financing activities
 
 
 
 
 
Dividends paid on Common Shares
(862
)
 
(862
)
 
(517
)
Proceeds from issuance of short-term debt
—

 
—

 
—

Repayment of short-term debt
—

 
—

 
—

Proceeds from share-based compensation plans
—

 
—

 
14

Advances (to) from affiliates
(228
)
 
260

 
(621
)
Net proceeds from affiliated notional cash pooling programs(2)
636

 
61

 
185

Net cash flows used for financing activities
(454
)
 
(541
)
 
(939
)
Net decrease in cash
1

 
—

 
(103
)
Cash – beginning of year
—

 
—

 
103

Cash – end of year
$
1

 
$
—

 
$
—

 
 
 
 
 
 
(1) Includes cash dividends received from subsidiaries of $2.9 billion, $300 million, and $825 million in 2015, 2014, and 2013, respectively.
(2) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information.
 
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.