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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Assets    
Short-term investments, at fair value (amortized cost – $4,378 and $4,551) (includes variable interest entities (VIE) balances of $196 and $217) $ 4,375 $ 4,551
Fixed maturities available-for-sale, at fair value, net of valuation allowance - $75 and $156 (amortized cost – $119,441 and $111,128) 117,265 106,571
Private debt held-for-investment, at amortized cost, net of valuation allowance - $5 and $4 2,619 2,553
Equity securities, at fair value (includes VIE balances of $1,362 and $1,078) 4,404 3,455
Private equities (includes VIE balances of $22 and $21) 14,405 14,078
Other investments (includes VIE balances of $4,243 and $3,773) 8,155 5,527
Total investments 151,223 136,735
Cash, including restricted cash $153 and $172 (includes VIE balances of $142 and $117) 2,678 2,621
Securities lending collateral 1,927 1,299
Accrued investment income 1,165 1,086
Insurance and reinsurance balances receivable, net of valuation allowance - $58 and $53 15,709 13,379
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $388 and $367 [1] 19,606 19,952
Reinsurance recoverable on policy benefits [1] 292 280
Deferred policy acquisition costs 8,249 7,152
Value of business acquired 3,452 3,674
Goodwill 19,990 [2] 19,686
Other intangible assets 6,594 6,775
Deferred tax assets 1,567 1,741
Prepaid reinsurance premiums 3,648 3,221
Separate account assets 5,996 5,573
Other assets (includes VIE balances of $19 and $33) 8,461 7,508
Total assets 250,557 230,682
Liabilities    
Unpaid losses and loss expenses 84,326 80,122
Unearned premiums 24,498 22,051
Future policy benefits 16,003 13,888
Market risk benefits 748 771
Policyholders' account balances 8,136 7,462
Separate account liabilities 5,996 5,573
Insurance and reinsurance balances payable 8,696 8,302
Securities lending payable 1,927 1,299
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $137 and $18) 8,967 8,332
Deferred tax liabilities 1,652 1,555
Repurchase agreements (includes VIE balances of $810 and $1,009) 3,048 2,833
Short-term debt 1,571 1,460
Long-term debt 14,560 13,035
Trust preferred securities 309 308
Total liabilities 180,437 166,991
Commitments and contingencies (refer to Note 13)
Shareholders’ equity    
Common Shares (CHF 0.50 par value; 419,625,986 and 431,451,586 shares issued; 403,033,421 and 405,269,637 shares outstanding) 235 241
Common Shares in treasury (16,592,565 and 26,181,949 shares) (2,837) (4,400)
Additional paid-in capital 14,643 15,665
Retained earnings 58,986 54,810
Accumulated other comprehensive income (loss) (AOCI) (5,270) (6,809)
Total Chubb shareholders’ equity 65,757 59,507
Noncontrolling interests (includes VIE balances of $3,445 and $2,705) 4,363 4,184
Total shareholders' equity 70,120 63,691
Total liabilities and shareholders’ equity $ 250,557 $ 230,682
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $509 million attributable to noncontrolling interests.