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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2017
Dec. 31, 2016
Investments [Abstract]    
Fixed maturities available for sale, at fair value (amortized cost - $79,957 and $79,536) (includes hybrid financial instruments of $2) $ 80,806 $ 80,115
Fixed maturities held to maturity, at amortized cost (fair value – $10,604 and $10,670) 10,519 10,644
Equity securities, at fair value (cost – $699 and $706) 835 814
Short-term investments, at fair value and amortized cost 2,780 3,002
Other investments (cost – $4,271 and $4,270) 4,551 4,519
Total investments 99,491 99,094
Cash [1] 1,063 [2] 985 [3]
Securities lending collateral 1,071 1,092
Accrued investment income 897 918
Insurance and reinsurance balances receivable 8,880 8,970
Reinsurance recoverable on losses and loss expenses 13,769 13,577
Reinsurance recoverable on policy benefits 187 182
Deferred policy acquisition costs 4,406 4,314
Value of business acquired 345 355
Goodwill 15,387 15,332
Other intangible assets 6,674 6,763
Prepaid reinsurance premiums 2,549 2,448
Investments in partially-owned insurance companies 666 666
Other assets 5,582 5,090
Total assets 160,967 159,786
Liabilities    
Unpaid losses and loss expenses 60,579 60,540
Unearned premiums 14,857 14,779
Future policy benefits 5,086 5,036
Insurance and reinsurance balances payable 5,797 5,637
Securities lending payable 1,072 1,093
Accounts payable, accrued expenses, and other liabilities 9,073 8,617
Deferred tax liabilities 967 988
Repurchase agreements 1,404 1,403
Short-term debt 300 500
Long-term debt 12,300 12,610
Trust preferred securities 308 308
Total liabilities 111,743 111,511
Commitments and contingencies
Shareholders’ equity    
Common Shares (CHF 24.15 par value; 479,783,864 shares issued; 467,223,019 and 465,968,716 shares outstanding) 11,121 11,121
Common Shares in treasury (12,560,845 and 13,815,148 shares) (1,398) (1,480)
Additional paid-in capital 14,795 15,335
Retained earnings 24,706 23,613
Accumulated other comprehensive income (loss) (AOCI) 0 (314)
Total shareholders’ equity 49,224 48,275
Total liabilities and shareholders’ equity $ 160,967 $ 159,786
[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 March 31, 2017 and December 31, 2016, 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 March 31, 2017, 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, 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.