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Schedule II
 12 Months Ended
Dec. 31, 2016
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)
2016

 
2015

Assets
 
 
 
Investments in subsidiaries and affiliates on equity basis
$
38,408

 
$
29,612

Short-term investments
2

 
1

Other investments, at cost
25

 
27

Total investments
38,435

 
29,640

Cash
1

 
1

Due from subsidiaries and affiliates, net
10,482

 
644

Other assets
3

 
8

Total assets
$
48,921

 
$
30,293

Liabilities
 
 
 
Affiliated notional cash pooling programs(1)
$
363

 
$
882

Accounts payable, accrued expenses, and other liabilities
283

 
276

Total liabilities
646

 
1,158

Shareholders' equity
 
 
 
Common Shares
11,121

 
7,833

Common Shares in treasury
(1,480
)
 
(1,922
)
Additional paid-in capital
15,335

 
4,481

Retained earnings
23,613

 
19,478

Accumulated other comprehensive income (loss)
(314
)
 
(735
)
Total shareholders' equity
48,275

 
29,135

Total liabilities and shareholders' equity
$
48,921

 
$
30,293

 
 
 
 
(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)
 
Year Ended December 31
 
(in millions of U.S. dollars)
2016

 
2015

 
2014

Revenues
 
 
 
 
 
Investment income, including interest income
$
356

 
$
35

 
$
37

Equity in net income of subsidiaries and affiliates
3,901

 
2,673

 
2,707

 
4,257

 
2,708

 
2,744

Expenses
 
 
 
 
 
Administrative and other (income) expense
101

 
(142
)
 
(123
)
Income tax expense
21

 
16

 
14

 
122

 
(126
)
 
(109
)
Net income
$
4,135

 
$
2,834

 
$
2,853

Comprehensive income
$
4,556

 
$
908

 
$
2,892

 
 
 
 
 
 
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)
2016

 
2015

 
2014

Net cash flows from operating activities(1)
$
3,618

 
$
3,125

 
$
541

Cash flows from investing activities
 
 
 
 
 
Capital contribution
(2,330
)
 
(2,670
)
 
—

Net cash flows used for investing activities
(2,330
)
 
(2,670
)
 
—

Cash flows from financing activities
 
 
 
 
 
Dividends paid on Common Shares
(1,173
)
 
(862
)
 
(862
)
Advances (to) from affiliates
404

 
(228
)
 
260

Net proceeds from (payments to) affiliated notional cash pooling programs(2)
(519
)
 
636

 
61

Net cash flows used for financing activities
(1,288
)
 
(454
)
 
(541
)
Net increase in cash
—

 
1

 
—

Cash – beginning of year
1

 
—

 
—

Cash – end of year
$
1

 
$
1

 
$
—

 
 
 
 
 
 
(1) Includes cash dividends received from subsidiaries of $3.4 billion, $2.9 billion, and $300 million in 2016, 2015, and 2014, 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.