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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2016
Dec. 31, 2015
Investments [Abstract]    
Fixed maturities available for sale, at fair value (amortized cost - $78,630 and $43,149) (includes hybrid financial instruments of $5 and $31) $ 81,358 $ 43,587
Fixed maturities held to maturity, at amortized cost (fair value – $11,366 and $8,552) 10,927 8,430
Equity securities, at fair value (cost – $695 and $441) 803 497
Short-term investments, at fair value and amortized cost 3,548 10,446
Other investments (cost – $4,170 and $2,993) 4,400 3,291
Total investments 101,036 66,251
Cash [1] 870 [2] 1,775 [3]
Securities lending collateral 1,140 1,046
Accrued investment income 915 513
Insurance and reinsurance balances receivable 8,493 5,323
Reinsurance recoverable on losses and loss expenses 13,448 11,386
Reinsurance recoverable on policy benefits 195 187
Deferred policy acquisition costs 4,238 2,873
Value of business acquired 368 395
Goodwill 15,481 4,796
Other intangible assets 6,991 887
Prepaid reinsurance premiums 2,449 2,082
Deferred tax assets 0 318
Investments in partially-owned insurance companies 665 653
Other assets 5,521 3,821
Total assets 161,810 102,306
Liabilities    
Unpaid losses and loss expenses 61,347 37,303
Unearned premiums 15,054 8,439
Future policy benefits 5,010 4,807
Insurance and reinsurance balances payable 4,885 4,270
Securities lending payable 1,141 1,047
Accounts payable, accrued expenses, and other liabilities 9,748 6,205
Deferred tax liabilities 1,418 0
Repurchase agreements 1,406 1,404
Short-term debt 500 0
Long-term debt 12,621 9,389
Trust preferred securities 308 307
Total liabilities 113,438 73,171
Commitments and contingencies
Shareholders’ equity    
Common Shares (CHF 24.15 par value; 479,783,864 and 342,832,412 shares issued; 465,286,110 and 324,563,441 shares outstanding) 11,121 7,833
Common Shares in treasury (14,497,754 and 18,268,971 shares) (1,550) (1,922)
Additional paid-in capital 15,601 4,481
Retained earnings 22,003 19,478
Accumulated other comprehensive income (loss) (AOCI) 1,197 (735)
Total shareholders’ equity 48,372 29,135
Total liabilities and shareholders’ equity $ 161,810 $ 102,306
[1] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2016 and December 31, 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[2] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At September 30, 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[3] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.