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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Assets    
Fixed maturities available for sale, at fair value, net of valuation allowance - $27 and $14 (amortized cost – $91,526 and $90,493) $ 89,479 $ 93,108
Fixed maturities held to maturity, at amortized cost, net of valuation allowance - $34 and $35 (fair value – $9,888 and $10,647) 9,818 10,118
Equity securities, at fair value 3,596 4,782
Short-term investments, at fair value (amortized cost – $3,408 and $3,147) 3,407 3,146
Other investments, at fair value 11,947 11,169
Total investments 118,247 122,323
Cash 1,734 1,659
Restricted cash 180 152
Securities lending collateral 1,800 1,831
Accrued investment income 822 821
Insurance and reinsurance balances receivable, net of valuation allowance - $50 and $46 11,452 11,322
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $329 and $329 [1] 17,761 17,366
Reinsurance recoverable on policy benefits [1] 208 213
Deferred policy acquisition costs 5,587 5,513
Value of business acquired 231 236
Goodwill 15,244 15,213
Other intangible assets 5,399 5,455
Deferred tax assets 333 0
Prepaid reinsurance premiums 3,068 3,028
Investments in partially-owned insurance companies 3,161 3,130
Other assets 12,763 11,792
Total assets 197,990 200,054
Liabilities    
Unpaid losses and loss expenses 73,844 72,943
Unearned premiums 19,586 19,101
Future policy benefits 5,974 5,947
Insurance and reinsurance balances payable 7,401 7,243
Securities lending payable 1,800 1,831
Accounts payable, accrued expenses, and other liabilities 14,914 15,004
Deferred tax liabilities 0 389
Repurchase agreements 1,406 1,406
Short-term debt 1,474 999
Long-term debt 14,585 15,169
Trust preferred securities 308 308
Total liabilities 141,292 140,340
Commitments and contingencies (refer to Note 7)
Shareholders’ equity    
Common Shares (CHF 24.15 par value; 459,555,714 and 474,021,114 shares issued; 423,675,327 and 426,572,612 shares outstanding) 10,666 10,985
Common Shares in treasury (35,880,387 and 47,448,502 shares) (5,700) (7,464)
Additional paid-in capital 7,988 8,478
Retained earnings 47,148 47,365
Accumulated other comprehensive income (loss) (AOCI) (3,404) 350
Total shareholders’ equity 56,698 59,714
Total liabilities and shareholders’ equity $ 197,990 $ 200,054
[1] Net of valuation allowance for uncollectible reinsurance.