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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2017
Dec. 31, 2016
Assets    
Fixed maturities available for sale, at fair value (amortized cost - $77,835 and $79,536) (includes hybrid financial instruments of $5 and $2) $ 78,939 $ 80,115
Fixed maturities held to maturity, at amortized cost (fair value – $14,474 and $10,670) 14,335 10,644
Equity securities, at fair value (cost – $737 and $706) 937 814
Short-term investments, at fair value and amortized cost 3,561 3,002
Other investments (cost – $4,417 and $4,270) 4,672 4,519
Total investments 102,444 99,094
Cash [1] 728 [2] 985 [3],[4]
Securities lending collateral 1,737 1,092
Accrued investment income 909 918
Insurance and reinsurance balances receivable 9,334 8,970
Reinsurance recoverable on losses and loss expenses 15,034 13,577
Reinsurance recoverable on policy benefits [5] 184 182
Deferred policy acquisition costs 4,723 4,314
Value of business acquired 326 355
Goodwill 15,541 15,332
Intangible Assets, Net (Excluding Goodwill) 6,513 6,763
Prepaid reinsurance premiums 2,529 2,448
Investments in partially-owned insurance companies 662 666
Other assets 6,358 5,090
Total assets 167,022 159,786
Liabilities    
Unpaid losses and loss expenses 63,179 60,540
Unearned premiums 15,216 14,779
Future policy benefits 5,321 5,036
Insurance and reinsurance balances payable 5,868 5,637
Collateral held under securities lending agreements 1,737 1,093
Accounts payable, accrued expenses, and other liabilities 9,545 8,617
Deferred Income Tax Liabilities, Net 699 988
Repurchase agreements 1,408 1,403
Short-term debt 1,013 500
Long-term debt 11,556 12,610
Trust preferred securities 308 308
Total liabilities 115,850 111,511
Commitments and contingencies
Shareholders' equity    
Common Shares (CHF 24.15 par value; 479,783,864 shares issued; 463,833,179 and 465,968,716 shares outstanding) 11,121 11,121
Common Shares in treasury (15,950,685 and 13,815,148 shares) (1,944) (1,480)
Additional Paid in Capital, Common Stock 13,978 15,335
Retained earnings 27,474 23,613
Accumulated other comprehensive income (loss) (AOCI) 543 (314)
Total shareholders' equity 51,172 48,275
Total liabilities and shareholders’ equity $ 167,022 $ 159,786
[1] Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2017 and 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. Refer to Note 1 f) for additional information. At December 31, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[3] Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2016 and 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[4] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[5] (1) Net of a provision for uncollectible reinsurance.