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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 1,115 $ 3,281
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses 1,069 475
Amortization of premiums/discounts on fixed maturities 280 294
Amortization of purchased intangibles 217 229
Deferred income taxes (287) (178)
Unpaid losses and loss expenses 5,112 277
Unearned premiums 881 1,061
Future policy benefits 138 148
Insurance and reinsurance balances payable 280 (114)
Accounts payable, accrued expenses, and other liabilities 190 (6)
Income taxes payable (95) 83
Insurance and reinsurance balances receivable (324) (371)
Reinsurance recoverable (496) 426
Deferred policy acquisition costs (77) (266)
Other (762) (426)
Net cash flows from operating activities 7,241 4,913
Cash flows from investing activities    
Purchases of fixed maturities available for sale (20,793) (19,778)
Purchases of fixed maturities held to maturity (42) (143)
Purchases of equity securities (3,622) (466)
Sales of fixed maturities available for sale 9,537 10,430
Sales of to be announced mortgage-backed securities 0 6
Sales of equity securities 1,526 577
Maturities and redemptions of fixed maturities available for sale 8,709 6,390
Maturities and redemptions of fixed maturities held to maturity 841 814
Net change in short-term investments (434) 202
Net derivative instruments settlements (74) (647)
Private equity contribution (1,056) (1,093)
Private equity distribution 588 973
Payments to Acquire Other Investments   (329)
Payments for Other Deposits 503  
Portion one of payments to acquire 22.4% of Huatai Group (1,054)  
Other (352) (497)
Net cash flows used for investing activities (6,729) (3,561)
Cash flows from financing activities    
Dividends paid on Common Shares (1,035) (1,014)
Common Shares repurchased (333) (1,203)
Proceeds from issuance of repurchase agreements 1,402 2,394
Repayment of repurchase agreements (1,402) (2,396)
Proceeds from share-based compensation plans 77 155
Policyholder contract deposits 322 376
Policyholder contract withdrawals (253) (221)
Net cash flows used for financing activities (234) (1,124)
Proceeds from Issuance of Long-term Debt 988 1,286
Repayments of Long-term Debt 0 (501)
Effect of foreign currency rate changes on cash and restricted cash (51) 21
Net increase (decrease) in cash and restricted cash 227 249
Cash and restricted cash - beginning of period 1,646 [1] 1,340 [2]
Cash and restricted cash - end of period 1,873 [1] 1,589 [2]
Supplemental cash flow information    
Taxes paid 668 733
Interest paid 323 327
CHINA | Huatai Group [Member]    
Cash flows from investing activities    
Payments to Acquire Other Investments   (329)
Payments for Other Deposits 503 $ 0
Portion one of payments to acquire 22.4% of Huatai Group $ (1,054)  
[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 September 30, 2020 and December 31, 2019, 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 September 30, 2019 and December 31, 2018, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.