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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Short-term investments, at fair value (amortized cost – $4,547 and $4,551) (includes variable interest entities (VIE) balances of $42 and $217) $ 4,546 $ 4,551
Fixed maturities available-for-sale, at fair value, net of valuation allowance - $122 and $156 (amortized cost – $113,529 and $111,128) 107,840 106,571
Private debt held-for-investment, at amortized cost, net of valuation allowance - $5 and $4 2,680 2,553
Equity securities, at fair value (includes VIE balances of $1,064 and $1,078) 3,792 3,455
Private equities (includes VIE balances of $22 and $21) 14,365 14,078
Other investments (includes VIE balances of $3,955 and $3,773) 7,513 5,527
Total investments 140,736 136,735
Cash, including restricted cash $168 and $172 (includes VIE balances of $113 and $117) 2,568 2,621
Securities lending collateral 1,889 1,299
Accrued investment income 1,130 1,086
Insurance and reinsurance balances receivable, net of valuation allowance - $54 and $53 15,929 13,379
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $381 and $367 [1] 19,355 19,952
Reinsurance recoverable on policy benefits [1] 291 280
Deferred policy acquisition costs 7,812 7,152
Value of business acquired 3,434 3,674
Goodwill 19,833 [2] 19,686
Other intangible assets 6,619 6,775
Deferred tax assets 1,690 1,741
Prepaid reinsurance premiums 3,747 3,221
Separate account assets 5,834 5,573
Other assets (includes VIE balances of $46 and $33) 7,684 7,508
Total assets 238,551 230,682
Liabilities    
Unpaid losses and loss expenses 82,191 80,122
Unearned premiums 24,102 22,051
Future policy benefits 14,663 13,888
Market risk benefits 576 771
Policyholders' account balances 7,787 7,462
Separate account liabilities 5,834 5,573
Insurance and reinsurance balances payable 9,126 8,302
Securities lending payable 1,889 1,299
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $33 and $18) 8,047 8,332
Deferred tax liabilities 1,572 1,555
Repurchase agreements (includes VIE balances of $1,087 and $1,009) 3,149 2,833
Short-term debt 1,553 1,460
Long-term debt 13,178 13,035
Trust preferred securities 309 308
Total liabilities 173,976 166,991
Commitments and contingencies (refer to Note 12)
Shareholders’ equity    
Common Shares (CHF 0.50 par value; 419,625,986 and 431,451,586 shares issued; 404,073,495 and 405,269,637 shares outstanding) 235 241
Common Shares in treasury (15,552,491 and 26,181,949 shares) (2,481) (4,400)
Additional paid-in capital 14,926 15,665
Retained earnings 56,662 54,810
Accumulated other comprehensive income (loss) (AOCI) (8,304) (6,809)
Total Chubb shareholders’ equity 61,038 59,507
Noncontrolling interests (includes VIE balances of $2,597 and $2,705) 3,537 4,184
Total shareholders' equity 64,575 63,691
Total liabilities and shareholders’ equity $ 238,551 $ 230,682
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $500 million attributable to noncontrolling interests.