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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 1,082 $ 1,093
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses 2 7
Amortization of premiums/discounts on fixed maturities 155 184
Amortization of UPR related to the Chubb Corp acquisition and other intangibles 85 64
Deferred income taxes (2) (127)
Unpaid losses and loss expenses (420) (154)
Unearned premiums 111 17
Future policy benefits 58 40
Insurance and reinsurance balances payable 250 252
Accounts payable, accrued expenses, and other liabilities (724) (491)
Income taxes payable 88 191
Insurance and reinsurance balances receivable (174) 30
Reinsurance recoverable on losses and loss expenses 138 (122)
Reinsurance recoverable on policy benefits 3 (5)
Deferred policy acquisition costs (75) (59)
Prepaid reinsurance premiums (42) (81)
Other 16 174
Net cash flows from operating activities 551 1,013
Cash flows from investing activities    
Purchases of fixed maturities available for sale (5,972) (6,250)
Purchases of fixed maturities held to maturity (162) (157)
Purchases of equity securities (55) (37)
Sales of fixed maturities available for sale 2,562 3,395
Sales of equity securities 40 46
Maturities and redemptions of fixed maturities available for sale 1,865 2,543
Maturities and redemptions of fixed maturities held to maturity 255 240
Net change in short-term investments 731 232
Net derivative instruments settlements 39 (89)
Private equity contribution (353) (198)
Private equity distribution 201 315
Other (32) (106)
Net cash flows used for investing activities (881) (66)
Cash flows from financing activities    
Dividends paid on Common Shares (330) (324)
Common Shares repurchased (29) (128)
Proceeds from issuance of long-term debt (300) (500)
Proceeds from issuance of repurchase agreements 408 753
Proceeds from Issuance of Long-term Debt 2,175 0
Repayment of repurchase agreements (404) (752)
Proceeds from share-based compensation plans 34 42
Policyholder contract deposits 118 109
Policyholder contract withdrawals (105) (58)
Net cash flows from (used for) financing activities 1,567 (858)
Effect of foreign currency rate changes on cash and restricted cash 25 (17)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 1,262 72
Cash and Restricted Cash - Beginning of year 851 1,088
Cash and Restricted Cash - end of Year 2,113 1,160
Supplemental cash flow information    
Taxes paid 93 54
Interest paid $ 82 $ 75