Chubb Ltd
For the period ended Jun 30, 2024. Filed Jul 26, 2024.
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Jun 30, 2024 · Filed Jul 26, 2024
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Information Provided In Connection With Outstanding Debt of Subsidiaries
Chubb INA Holdings LLC (Subsidiary Issuer) is an indirect 100 percent-owned and consolidated subsidiary of Chubb Limited (Parent Guarantor). The Parent Guarantor fully and unconditionally guarantees certain of the debt of the Subsidiary Issuer.
The following table presents the condensed balance sheets of Chubb Limited and Chubb INA Holdings LLC, after elimination of investment in any non-guarantor subsidiary:
| Chubb Limited(Parent Guarantor) | Chubb INA Holdings LLC(Subsidiary Issuer) | |||
|---|---|---|---|---|
| June 30 | December 31 | June 30 | December 31 | |
| (in millions of U.S. dollars) | 2024 | 2023 | 2024 | 2023 |
| Assets | ||||
| Investments | $— | $— | $107 | $103 |
| Cash | 51 | 77 | 4 | 3 |
| Due from parent guarantor/subsidiary issuer | 54 | 441 | — | — |
| Due from subsidiaries that are not issuers or guarantors | 515 | 539 | 524 | 571 |
| Other assets | 5 | 12 | 2,992 | 2,785 |
| Total assets | $625 | $1,069 | $3,627 | $3,462 |
| Liabilities | ||||
| Due to parent guarantor/subsidiary issuer | $— | $— | $54 | $441 |
| Due to subsidiaries that are not issuers or guarantors | 257 | 263 | 667 | 593 |
| Affiliated notional cash pooling programs | 154 | 594 | 618 | 455 |
| Short-term debt | — | — | 1,553 | 1,460 |
| Long-term debt | — | — | 13,178 | 13,035 |
| Trust preferred securities | — | — | 309 | 308 |
| Other liabilities | 453 | 657 | 1,463 | 1,496 |
| Total liabilities | 864 | 1,514 | 17,842 | 17,788 |
| Total equity | (239) | (445) | (14,215) | (14,326) |
| Total liabilities and equity | $625 | $1,069 | $3,627 | $3,462 |
The following table presents the condensed statements of operations and comprehensive income of Chubb Limited and Chubb INA Holdings LLC, excluding equity in earnings from non-guarantor subsidiaries:
| Six Months Ended June 30, 2024 | Chubb Limited(Parent Guarantor) | Chubb INA Holdings LLC(Subsidiary Issuer) |
|---|---|---|
| (in millions of U.S. dollars) | ||
| Net investment income (loss) | $(15) | $(27) |
| Net realized gains (losses) | (8) | (1) |
| Administrative expenses | 60 | (9) |
| Interest (income) expense | (7) | 237 |
| Other (income) expense | (22) | 28 |
| Income tax expense (benefit) | 6 | (67) |
| Net loss | $(60) | $(217) |
| Comprehensive loss | $(60) | $(269) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.