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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 3,861 $ 4,135 $ 2,834
Adjustments to reconcile net income to net cash flows from operating activities      
Net realized (gains) losses (84) 145 420
Amortization of premiums/discounts on fixed maturities 694 737 158
Amortization of UPR related to the Chubb Corp acquisition and other intangibles 260 1,578 171
Deferred income taxes (527) 96 113
Unpaid losses and loss expenses 2,137 332 (375)
Unearned premiums 264 (680) 335
Future policy benefits 217 188 216
Insurance and reinsurance balances payable 271 848 268
Accounts payable, accrued expenses, and other liabilities (517) (97) 179
Income taxes payable (365) 147 (148)
Insurance and reinsurance balances receivable (243) (616) (53)
Reinsurance recoverable on losses and loss expenses (1,248) (365) 218
Reinsurance recoverable on policy benefits   7 33
Deferred policy acquisition costs (317) (1,449) (435)
Prepaid reinsurance premiums (82) 18 (212)
Other 182 268 142
Net cash flows from operating activities 4,503 5,292 3,864
Cash flows from investing activities      
Purchases of fixed maturities available for sale (25,720) (30,759) (16,040)
Purchases of to be announced mortgage-backed securities (27) (56) (31)
Purchases of fixed maturities held to maturity (352) (282) (62)
Purchases of equity securities (173) (146) (158)
Sales of fixed maturities available for sale 13,228 16,621 10,783
Sales of to be announced mortgage-backed securities 27 56 31
Sales of equity securities 187 1,000 183
Maturities and redemptions of fixed maturities available for sale 10,425 9,349 6,567
Maturities and redemptions of fixed maturities held to maturity 879 958 669
Net change in short-term investments (537) 12,350 (8,216)
Net derivative instruments settlements (265) (168) (21)
Acquisition of subsidiaries (net of cash acquired of $nil, $71, and $629)   (14,248) 264
Other (114) 10 (263)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations (2,442) (5,315) (6,294)
Cash flows from financing activities      
Dividends paid on Common Shares (1,308) (1,173) (862)
Common Shares repurchased (801)   (758)
Proceeds from issuance of long-term debt     6,090
Proceeds from issuance of repurchase agreements 2,353 2,310 2,029
Repayment of repurchase agreements (2,348) (2,311) (2,027)
Repayments of Long-term Debt (501) 0 (1,150)
Proceeds from share-based compensation plans 151 167 131
Policyholder contract deposits 442 522 503
Policyholder contract withdrawals (307) (253) (221)
Other 0 (4) (40)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations (2,319) (742) 3,695
Effect of foreign currency rate changes on cash and cash equivalents 1 (25) (145)
Net increase (decrease) in cash (257) (790) 1,120
Cash – beginning of year 985 [1],[2],[3] 1,775 [2],[4] 655 [4]
Cash – end of year [2] 728 [5] 985 [1],[3] 1,775 [4]
Supplemental cash flow information      
Taxes paid 736 662 469
Interest paid $ 644 $ 642 $ 259
[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, 2016 and 2015, 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, 2017 and 2016, 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, 2016, 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, 2015 and 2014, 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, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.