Chubb Ltd

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

CB$369.11+1.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets at December 31, 20 and

As Adjusted
(in millions of U.S. dollars, except share and per share data) · December 31, 2023 · December 31, 2022
Assets
Investments
	Short-term investments, at fair value (amortized cost – $4,551 and $4,962) (includes variable interest entities (VIE) balances of $217 and nil)	$4,551			$4,960
	Fixed maturities available-for-sale, at fair value, net of valuation allowance – $156 and $169 (amortized cost – $111,128 and $93,355)	106,571			85,220
	Fixed maturities held to maturity, at amortized cost, net of valuation allowance – nil and $34 (fair value – nil and $8,439)	—			8,848
	Private debt held-for-investment, at amortized cost, net of valuation allowance – $4 and nil	2,553			—
	Equity securities, at fair value (includes VIE balances of $1,078 and nil)	3,455			827
	Private equities (includes VIE balances of $21 and nil)	14,078			12,355
	Other investments (includes VIE balances of $3,773 and nil)	5,527			1,341
		Total investments	136,735			113,551
Cash, including restricted cash $172 and $115 (includes VIE balances of $117 and nil)	2,621			2,127
Securities lending collateral	1,299			1,523
Accrued investment income	1,086			941
Insurance and reinsurance balances receivable, net of valuation allowance – $53 and $52	13,379			11,933
Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $367 and $351	19,952			18,859
Reinsurance recoverable on policy benefits	280			302
Deferred policy acquisition costs	7,152			6,031
Value of business acquired	3,674			3,702
Goodwill	19,686			16,228
Other intangible assets	6,775			5,441
Deferred tax assets	1,741			—
Prepaid reinsurance premiums	3,221			3,136
Investments in partially-owned insurance companies	191			2,507
Separate account assets	5,573			5,190
Other assets (includes VIE balances of $33 and nil)	7,317			7,546
Total assets	$230,682			$199,017
Liabilities
Unpaid losses and loss expenses	$80,122			$75,747
Unearned premiums	22,051			19,713
Future policy benefits	13,888			10,476
Market risk benefits	771			800
Policyholders' account balances	7,462			3,140
Separate account liabilities	5,573			5,190
Insurance and reinsurance balances payable	8,302			7,780
Securities lending payable	1,299			1,523
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $18 and nil)	8,332			7,148
Deferred tax liabilities	1,555			377
Repurchase agreements (includes VIE balances of $1,009 and nil)	2,833			1,419
Short-term debt	1,460			475
Long-term debt	13,035			14,402
Trust preferred securities	308			308
Total liabilities	166,991			148,498
Commitments and contingencies (refer to Note 14)
Shareholders’ equity
Common Shares (CHF 0.50 and 24.15 par value; 431,451,586 and 446,376,614 shares issued; 405,269,637 and 414,594,856 shares outstanding)	241			10,346
Common Shares in treasury (26,181,949 and 31,781,758 shares)	(4,400)			(5,113)
Additional paid-in capital	15,665			7,166
Retained earnings	54,810			48,305
Accumulated other comprehensive income (loss) (AOCI)	(6,809)			(10,185)
Total Chubb shareholders' equity	59,507			50,519
Noncontrolling interests (includes VIE balances of $2,705 and nil)	4,184			—
Total shareholders’ equity	63,691			50,519
Total liabilities and shareholders’ equity	$230,682			$199,017

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