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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 4,135 $ 2,834 $ 2,853
Adjustments to reconcile net income to net cash flows from operating activities      
Net realized (gains) losses 145 420 507
Amortization of premiums/discounts on fixed maturities 737 158 188
Amortization of UPR related to the Chubb Corp acquisition 1,559 0 0
Deferred income taxes 96 113 145
Unpaid losses and loss expenses 332 (375) 317
Unearned premiums (680) 335 441
Future policy benefits 188 216 236
Insurance and reinsurance balances payable 848 268 376
Accounts payable, accrued expenses, and other liabilities (97) 179 13
Income taxes payable 147 (148) 103
Insurance and reinsurance balances receivable (616) (53) (469)
Reinsurance recoverable on losses and loss expenses (365) 218 119
Reinsurance recoverable on policy benefits 7 33 4
Deferred policy acquisition costs (1,449) (435) (397)
Prepaid reinsurance premiums 18 (212) (89)
Other 287 313 149
Net cash flows from operating activities 5,292 3,864 4,496
Cash flows from investing activities      
Purchases of fixed maturities available for sale (30,759) (16,040) (15,553)
Purchases of to be announced mortgage-backed securities (56) (31)  
Purchases of fixed maturities held to maturity (282) (62) (267)
Purchases of equity securities (146) (158) (251)
Sales of fixed maturities available for sale 16,621 10,783 7,482
Sales of to be announced mortgage-backed securities 56 31  
Sales of equity securities 1,000 183 670
Maturities and redemptions of fixed maturities available for sale 9,349 6,567 6,413
Maturities and redemptions of fixed maturities held to maturity 958 669 875
Net change in short-term investments 12,350 (8,216) (603)
Net derivative instruments settlements (168) (21) (230)
Acquisition of subsidiaries (net of cash acquired of $71, 629, and $20) (14,248) 264 (766)
Other 10 (263) (274)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations (5,315) (6,294) (2,504)
Cash flows from financing activities      
Dividends paid on Common Shares (1,173) (862) (862)
Common Shares repurchased   (758) (1,429)
Proceeds from issuance of long-term debt   6,090 699
Proceeds from issuance of repurchase agreements 2,310 2,029 1,978
Repayment of repurchase agreements (2,311) (2,027) (1,977)
Repayments of Long-term Debt   (1,150) (501)
Proceeds from share-based compensation plans, including windfall tax benefits 167 131 127
Policyholder contract deposits 522 503 366
Policyholder contract withdrawals (253) (221) (172)
Other (4) (40) (6)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations (742) 3,695 (1,777)
Effect of foreign currency rate changes on cash and cash equivalents (25) (145) (139)
Net increase (decrease) in cash (790) 1,120 76
Cash – beginning of year 1,775 [1],[2],[3] 655 [2],[4] 579 [4]
Cash – end of year [2] 985 [5] 1,775 [1],[3] 655 [4]
Supplemental cash flow information      
Taxes paid 662 469 349
Interest paid $ 642 $ 259 $ 264
[1] Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2015 and 2014, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[2] Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2016 and 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[3] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[4] Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2014 and 2013, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[5] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.