Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020		Dec. 31, 2019
Assets
Fixed maturities available for sale, at fair value, net of valuation allowance - $176 at March 31, 2020 (amortized cost – $80,959 and $82,580)	$ 81,530		$ 85,488
Fixed maturities held to maturity, at amortized cost, net of valuation allowance	12,025
Fixed maturities held to maturity, at amortized cost, net of valuation allowance - $45 at March 31, 2020 (fair value – $12,471 and $13,005)	12,070		12,581
Equity securities, at fair value	2,068		812
Short-term investments, at fair value (amortized cost - $3,582 and $4,291)	3,586		4,291
Other investments, at fair value	6,075		6,062
Total investments	105,284		109,234
Cash	1,512	[1]	1,537	[2]
Restricted cash	146		109
Securities lending collateral	1,342		994
Accrued investment income	839		867
Insurance and reinsurance balances receivable	10,058		10,357
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $305 and $316	14,898		15,181
Reinsurance recoverable on policy benefits	196		197
Deferred policy acquisition costs	5,162		5,242
Value of business acquired	289		306
Goodwill	14,971		15,296
Other intangible assets	5,902		6,063
Prepaid reinsurance premiums	2,570		2,647
Investments in partially-owned insurance companies	1,346		1,332
Other assets	8,612		7,581
Total assets	173,127		176,943
Liabilities
Unpaid losses and loss expenses	62,214		62,690
Unearned premiums	16,459		16,771
Future policy benefits	5,776		5,814
Insurance and reinsurance balances payable	6,084		6,184
Securities lending payable	1,342		994
Accounts payable, accrued expenses, and other liabilities	12,055		11,773
Deferred tax liabilities	474		804
Repurchase agreements	1,408		1,416
Short-term debt	1,300		1,299
Long-term debt	13,510		13,559
Trust preferred securities	308		308
Total liabilities	120,930		121,612
Commitments and contingencies (refer to Note 7)
Shareholders’ equity
Common Shares (CHF 24.15 par value; 479,783,864 shares issued; 451,367,782 and 451,971,567 shares outstanding)	11,121		11,121
Common Shares in treasury (28,416,082 and 27,812,297 shares)	(3,872)		(3,754)
Additional Paid in Capital, Common Stock	10,710		11,203
Retained earnings	36,331		36,142
Accumulated other comprehensive income (loss) (AOCI)	(2,093)		619
Total shareholders’ equity	52,197		55,331
Total liabilities and shareholders’ equity	$ 173,127		$ 176,943

[1] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various Chubb entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual Chubb accounts are translated daily into a single currency and pooled on a notional basis. Individual Chubb entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At March 31, 2020, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

[2] Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to the 2019 Form 10-K for additional information.