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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Assets    
Fixed maturities available for sale, at fair value, net of valuation allowance - $147 and $14 (amortized cost – $93,316 and $90,493) $ 83,741 $ 93,108
Fixed maturities held to maturity, at amortized cost, net of valuation allowance - $33 and $35 (fair value – $8,491 and $10,647) 8,976 10,118
Equity securities, at fair value 844 4,782
Short-term investments, at fair value (amortized cost – $4,536 and $3,147) 4,534 3,146
Other investments, at fair value 13,645 11,169
Total investments 111,740 122,323
Cash 2,128 1,659
Restricted cash 136 152
Securities lending collateral 1,626 1,831
Accrued investment income 900 821
Insurance and reinsurance balances receivable, net of valuation allowance - $51 and $46 12,853 11,322
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $352 and $329 [1] 18,754 17,366
Reinsurance recoverable on policy benefits [1] 297 213
Deferred policy acquisition costs 5,578 5,513
Value of business acquired 3,324 236
Goodwill 16,107 15,213
Other intangible assets 5,383 5,455
Prepaid reinsurance premiums 3,265 3,028
Investments in partially-owned insurance companies 2,943 3,130
Other assets 13,077 11,792
Total assets 198,111 200,054
Liabilities    
Liability for Claims and Claims Adjustment Expense 75,992 72,943
Unearned premiums 20,520 19,101
Future policy benefits 9,586 5,947
Insurance and reinsurance balances payable 7,829 7,243
Securities lending payable 1,626 1,831
Accounts payable, accrued expenses, and other liabilities 16,673 15,004
Deferred tax liabilities 2 389
Repurchase agreements 2,417 1,406
Short-term debt 1,475 999
Long-term debt 14,044 15,169
Trust preferred securities 308 308
Total liabilities 150,472 140,340
Commitments and contingencies (refer to Note 8)
Shareholders’ equity    
Common Shares (CHF 24.15 par value; 446,376,614 and 474,021,114 shares issued; 415,020,484 and 426,572,612 shares outstanding) 10,346 10,985
Common Shares in treasury (31,356,130 and 47,448,502 shares) (4,978) (7,464)
Additional paid-in capital 7,429 8,478
Retained earnings 47,022 47,365
Accumulated other comprehensive income (loss) (AOCI) (12,180) 350
Accumulated other comprehensive income (loss) 47,639 59,714
Total liabilities and shareholders’ equity $ 198,111 $ 200,054
[1] Net of valuation allowance for uncollectible reinsurance.