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Schedule II
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information 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)
2018

 
2017

Assets
 
 
 
Investments in subsidiaries and affiliates on equity basis
$
43,531

 
$
41,909

Total investments
43,531

 
41,909

Cash
1

 
3

Due from subsidiaries and affiliates, net
7,074

 
9,639

Other assets
3

 
3

Total assets
$
50,609

 
$
51,554

Liabilities
 
 
 
Affiliated notional cash pooling programs (1)
$
35

 
$
—

Accounts payable, accrued expenses, and other liabilities
262

 
382

Total liabilities
297

 
382

Shareholders' equity
 
 
 
Common Shares
11,121

 
11,121

Common Shares in treasury
(2,618
)
 
(1,944
)
Additional paid-in capital
12,557

 
13,978

Retained earnings
31,700

 
27,474

Accumulated other comprehensive income (loss)
(2,448
)
 
543

Total shareholders' equity
50,312

 
51,172

Total liabilities and shareholders' equity
$
50,609

 
$
51,554

(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)
2018

 
2017

 
2016

Revenues
 
 
 
 
 
Investment income, including interest income
$
305

 
$
336

 
$
356

Equity in net income of subsidiaries and affiliates
3,753

 
3,640

 
3,901

 
4,058

 
3,976

 
4,257

Expenses
 
 
 
 
 
Administrative and other (income) expense
63

 
63

 
39

Chubb integration expenses
14

 
32

 
62

Income tax expense
19

 
20

 
21

 
96

 
115

 
122

Net income
$
3,962

 
$
3,861

 
$
4,135

Comprehensive income
$
1,242

 
$
4,718

 
$
4,556


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)
2018

 
2017

 
2016

Net cash flows from operating activities (1)
$
256

 
$
781

 
$
3,618

Cash flows from investing activities
 
 
 
 
 
Capital contribution
(1,475
)
 
—

 
(2,330
)
Net cash flows used for investing activities
(1,475
)
 
—

 
(2,330
)
Cash flows from financing activities
 
 
 
 
 
Dividends paid on Common Shares
(1,337
)
 
(1,308
)
 
(1,173
)
Advances from affiliates
2,519

 
892

 
404

Net proceeds from (payments to) affiliated notional cash pooling programs (2)
35

 
(363
)
 
(519
)
Net cash flows from (used for) financing activities
1,217

 
(779
)
 
(1,288
)
Net increase (decrease) in cash and restricted cash
(2
)
 
2

 
—

Cash and restricted cash – beginning of year
3

 
1

 
1

Cash and restricted cash – end of year
$
1

 
$
3

 
$
1

(1) 
Includes cash dividends received from subsidiaries of $75 million, $450 million, and $3.4 billion in 2018, 2017, and 2016, 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.