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Schedule II
 12 Months Ended
Dec. 31, 2019
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)
2019

 
2018

Assets
 
 
 
Investments in subsidiaries and affiliates on equity basis
$
50,853

 
$
43,531

Total investments
50,853

 
43,531

Cash
2

 
1

Due from subsidiaries and affiliates, net
4,776

 
7,074

Other assets
12

 
3

Total assets
$
55,643

 
$
50,609

Liabilities
 
 
 
Affiliated notional cash pooling programs (1)
$
—

 
$
35

Accounts payable, accrued expenses, and other liabilities
312

 
262

Total liabilities
312

 
297

Shareholders' equity
 
 
 
Common Shares
11,121

 
11,121

Common Shares in treasury
(3,754
)
 
(2,618
)
Additional paid-in capital
11,203

 
12,557

Retained earnings
36,142

 
31,700

Accumulated other comprehensive income (loss)
619

 
(2,448
)
Total shareholders' equity
55,331

 
50,312

Total liabilities and shareholders' equity
$
55,643

 
$
50,609

(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)
2019

 
2018

 
2017

Revenues
 
 
 
 
 
Investment income (1)
$
227

 
$
305

 
$
336

Equity in net income of subsidiaries and affiliates
4,307

 
3,753

 
3,640

 
4,534

 
4,058

 
3,976

Expenses
 
 
 
 
 
Administrative and other (income) expense
65

 
63

 
63

Chubb integration expenses
1

 
14

 
32

Income tax expense
14

 
19

 
20

 
80

 
96

 
115

Net income
$
4,454

 
$
3,962

 
$
3,861

Comprehensive income
$
7,521

 
$
1,242

 
$
4,718


(1) 
Includes net investment income, interest income, and net realized gains (losses).
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.

STATEMENTS OF CASH FLOWS (Parent Company Only)
 
Year Ended December 31
 
(in millions of U.S. dollars)
2019

 
2018

 
2017

Net cash flows from operating activities (1)
$
412

 
$
256

 
$
781

Cash flows from investing activities
 
 
 
 
 
Capital contribution
(1,000
)
 
(1,475
)
 
—

Net cash flows used for investing activities
(1,000
)
 
(1,475
)
 
—

Cash flows from financing activities
 
 
 
 
 
Dividends paid on Common Shares
(1,354
)
 
(1,337
)
 
(1,308
)
Common Shares repurchased
(327
)
 
—

 
—

Advances from affiliates
2,301

 
2,519

 
892

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

 
(363
)
Net cash flows from (used for) financing activities
585

 
1,217

 
(779
)
Effect of foreign currency rate changes on cash and restricted cash
4

 
—

 
—

Net increase (decrease) in cash and restricted cash
1

 
(2
)
 
2

Cash and restricted cash – beginning of year
1

 
3

 
1

Cash and restricted cash – end of year
$
2

 
$
1

 
$
3

(1) 
Includes cash dividends received from subsidiaries of $200 million, $75 million, and $450 million in 2019, 2018, and 2017, 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.