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Schedule II
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
CONDENSED FINANCIAL INFORMATION OF REGISTRANT

BALANCE SHEETS (Parent Company Only)
 
December 31

 
December 31

(in millions of U.S. dollars)
2017

 
2016

Assets
 
 
 
Investments in subsidiaries and affiliates on equity basis
$
41,909

 
$
38,408

Short-term investments
—

 
2

Other investments, at cost
—

 
25

Total investments
41,909

 
38,435

Cash
3

 
1

Due from subsidiaries and affiliates, net
9,639

 
10,482

Other assets
3

 
3

Total assets
$
51,554

 
$
48,921

Liabilities
 
 
 
Affiliated notional cash pooling programs(1)
$
—

 
$
363

Accounts payable, accrued expenses, and other liabilities
382

 
283

Total liabilities
382

 
646

Shareholders' equity
 
 
 
Common Shares
11,121

 
11,121

Common Shares in treasury
(1,944
)
 
(1,480
)
Additional paid-in capital
13,978

 
15,335

Retained earnings
27,474

 
23,613

Accumulated other comprehensive income (loss)
543

 
(314
)
Total shareholders' equity
51,172

 
48,275

Total liabilities and shareholders' equity
$
51,554

 
$
48,921

 
 
 
 
(1) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information.
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF OPERATIONS (Parent Company Only)
 
Year Ended December 31
 
(in millions of U.S. dollars)
2017

 
2016

 
2015

Revenues
 
 
 
 
 
Investment income, including interest income
$
336

 
$
356

 
$
35

Equity in net income of subsidiaries and affiliates
3,640

 
3,901

 
2,673

 
3,976

 
4,257

 
2,708

Expenses
 
 
 
 
 
Administrative and other (income) expense
63

 
39

 
(145
)
Chubb integration expenses
32

 
62

 
3

Income tax expense
20

 
21

 
16

 
115

 
122

 
(126
)
Net income
$
3,861

 
$
4,135

 
$
2,834

Comprehensive income
$
4,718

 
$
4,556

 
$
908

 
 
 
 
 
 
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.


CONDENSED FINANCIAL INFORMATION OF REGISTRANT

STATEMENTS OF CASH FLOWS (Parent Company Only)
 
Year Ended December 31
 
(in millions of U.S. dollars)
2017

 
2016

 
2015

Net cash flows from operating activities(1)
$
781

 
$
3,618

 
$
3,125

Cash flows from investing activities
 
 
 
 
 
Capital contribution
—

 
(2,330
)
 
(2,670
)
Net cash flows used for investing activities
—

 
(2,330
)
 
(2,670
)
Cash flows from financing activities
 
 
 
 
 
Dividends paid on Common Shares
(1,308
)
 
(1,173
)
 
(862
)
Advances (to) from affiliates
892

 
404

 
(228
)
Net proceeds from (payments to) affiliated notional cash pooling programs(2)
(363
)
 
(519
)
 
636

Net cash flows used for financing activities
(779
)
 
(1,288
)
 
(454
)
Net increase in cash
2

 
—

 
1

Cash – beginning of year
1

 
1

 
—

Cash – end of year
$
3

 
$
1

 
$
1

 
 
 
 
 
 
(1) Includes cash dividends received from subsidiaries of $450 million, $3.4 billion, and $2.9 billion in 2017, 2016, and 2015, respectively.
(2) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information.
The condensed financial information should be read in conjunction with the consolidated financial statements and notes thereto.