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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Assets    
Short-term investments, at fair value (amortized cost – $5,455 and $4,962) $ 5,454 $ 4,960
Fixed maturities available for sale, at fair value, net of valuation allowance - $158 and $169 (amortized cost – $109,355 and $93,355) 99,766 85,220
Fixed maturities held to maturity, at amortized cost, net of valuation allowance - nil and $34 (fair value – nil and $8,439) 0 8,848
Private debt held-for-investment, at amortized cost 2,401 0
Equity securities, at fair value 3,395 827
Private equities 13,362 12,355
Other investments 5,583 1,341
Total investments (refer to Note 3 for balances associated with variable interest entities (VIEs)) 129,961 113,551
Cash, including restricted cash $192 and $115 (refer to Note 3 for balances associated with VIEs) 2,778 2,127
Securities lending collateral 1,469 1,523
Accrued investment income 1,040 941
Insurance and reinsurance balances receivable, net of valuation allowance - $53 and $52 13,907 11,933
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $370 and $351 19,750 [1] 18,859 [2]
Reinsurance recoverable on policy benefits [1],[2] 315 302
Deferred policy acquisition costs 6,856 6,031
Value of business acquired 3,675 3,702
Goodwill 19,554 16,228
Other intangible assets 6,844 5,441
Prepaid reinsurance premiums 3,514 3,136
Investments in partially-owned insurance companies 188 2,507
Separate account assets 5,306 5,190
Other assets 7,591 7,546
Total assets 222,748 199,017
Liabilities    
Unpaid losses and loss expenses 79,705 75,747
Unearned premiums 22,684 19,713
Future policy benefits 13,109 10,476
Market risk benefits 770 800
Policyholders' account balances 7,178 3,140
Separate account liabilities 5,306 5,190
Insurance and reinsurance balances payable 8,481 7,780
Securities lending payable 1,469 1,523
Accounts payable, accrued expenses, and other liabilities 8,422 7,148
Deferred tax liabilities 759 377
Repurchase agreements (refer to Note 3 for balances associated with VIEs) 2,617 1,419
Short-term debt 700 475
Long-term debt 13,736 14,402
Trust preferred securities 308 308
Total liabilities 165,244 148,498
Commitments and contingencies (refer to Note 13)
Shareholders’ equity    
Common Shares (CHF 0.50 and 24.15 par value; 431,451,586 and 446,376,614 shares issued; 407,984,339 and 414,594,856 shares outstanding) 241 10,346
Common Shares in treasury (23,467,247 and 31,781,758 shares) (3,747) (5,113)
Additional paid-in capital 15,887 7,166
Retained earnings 51,510 48,305
Accumulated other comprehensive income (loss) (AOCI) (11,518) (10,185)
Total Chubb shareholders’ equity 52,373 50,519
Noncontrolling interests (refer to Note 3 for balances associated with VIEs) 5,131 0
Total shareholders' equity 57,504 50,519
Total liabilities and shareholders’ equity $ 222,748 $ 199,017
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Net of valuation allowance for uncollectible reinsurance.