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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2017
Dec. 31, 2016
Investments [Abstract]    
Fixed maturities available for sale, at fair value (amortized cost – $80,363 and $79,536)(includes hybrid financial instruments of $2 and $2) $ 81,645 $ 80,115
Fixed maturities held to maturity, at amortized cost (fair value – $10,560 and $10,670) 10,371 10,644
Equity securities, at fair value (cost – $697 and $706) 856 814
Short-term investments, at fair value and amortized cost 2,651 3,002
Other investments (cost – $4,410 and $4,270) 4,685 4,519
Total investments 100,208 99,094
Cash [1] 1,297 [2] 985 [3]
Securities lending collateral 1,545 1,092
Accrued investment income 901 918
Insurance and reinsurance balances receivable 9,662 8,970
Reinsurance recoverable on losses and loss expenses 13,358 13,577
Reinsurance recoverable on policy benefits 198 182
Deferred policy acquisition costs 4,546 4,314
Value of business acquired 337 355
Goodwill 15,434 15,332
Other intangible assets 6,579 6,763
Prepaid reinsurance premiums 2,592 2,448
Investments in partially-owned insurance companies 662 666
Other assets 5,669 5,090
Total assets 162,988 159,786
Liabilities    
Unpaid losses and loss expenses 60,394 60,540
Unearned premiums 15,289 14,779
Future policy benefits 5,190 5,036
Insurance and reinsurance balances payable 5,841 5,637
Securities lending payable 1,546 1,093
Accounts payable, accrued expenses, and other liabilities 8,952 8,617
Deferred tax liabilities 1,122 988
Repurchase agreements 1,408 1,403
Short-term debt 922 500
Long-term debt 11,667 12,610
Trust preferred securities 308 308
Total liabilities 112,639 111,511
Commitments and contingencies
Shareholders’ equity    
Common Shares (CHF 24.15 par value; 479,783,864 shares issued; 465,375,141 and 465,968,716 shares outstanding) 11,121 11,121
Common Shares in treasury (14,408,723 and 13,815,148 shares) (1,675) (1,480)
Additional paid-in capital 14,522 15,335
Retained earnings 26,011 23,613
Accumulated other comprehensive income (loss) (AOCI) 370 (314)
Total shareholders’ equity 50,349 48,275
Total liabilities and shareholders’ equity $ 162,988 $ 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 June 30, 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 June 30, 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.