Chubb Ltd

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

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.

FY2025 · Filed Feb 27, 2026

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, 202 and

(in millions of U.S. dollars, except share and per share data) · December 31, 2025 · December 31, 2024
Assets
Investments
	Short-term investments, at fair value (amortized cost – $4,840 and $5,143) (includes variable interest entities (VIE) balances of $105 and $57)	$4,840			$5,142
	Fixed maturities available-for-sale, at fair value, net of valuation allowance – $52 and $70 (amortized cost – $124,726 and $115,083)	122,680			110,363
	Private debt held-for-investment, at amortized cost, net of valuation allowance – $3 and $4	2,411			2,628
	Equity securities, at fair value (includes VIE balances of $2,275 and $1,289)	10,801			9,151
	Private equities (includes VIE balances of $22 and $22)	17,239			14,769
	Other investments (includes VIE balances of $5,818 and $4,538)	10,749			8,597
		Total investments	168,720			150,650
Cash, including restricted cash $198 and $261 (includes VIE balances of $168 and $114)	2,470			2,549
Securities lending collateral	2,500			1,445
Accrued investment income	1,305			1,160
Insurance and reinsurance balances receivable, net of valuation allowance – $62 and $59	15,944			14,426
Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $320 and $310	20,338			19,777
Reinsurance recoverable on policy benefits	286			289
Deferred policy acquisition costs	10,008			8,358
Value of business acquired	2,975			3,223
Goodwill	20,207			19,579
Other intangible assets	6,241			6,377
Deferred tax assets	1,312			1,603
Prepaid reinsurance premiums	3,874			3,378
Separate account assets	6,925			6,231
Other assets (includes VIE balances of $58 and $26)	9,222			7,503
Total assets	$272,327			$246,548
Liabilities
Unpaid losses and loss expenses	$88,018			$84,004
Unearned premiums	26,279			23,504
Future policy benefits	18,420			16,121
Market risk benefits	659			607
Policyholders' account balances	8,576			8,016
Separate account liabilities	6,925			6,231
Insurance and reinsurance balances payable	8,349			8,121
Repurchase agreements (includes VIE balances of $956 and $815)	3,324			2,731
Securities lending payable	2,500			1,445
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $159 and $183)	10,108			10,192
Deferred tax liabilities	1,741			1,584
Short-term debt	1,499			800
Long-term debt	15,728			14,379
Hybrid debt	422			419
Total liabilities	192,548			178,154
Commitments and contingencies (refer to Note 14)
Shareholders’ equity
Common Shares (CHF 0.50 par value; 412,107,421 and 419,625,986 shares issued; 391,101,227 and 400,703,663 shares outstanding)	231			235
Common Shares in treasury (21,006,194 and 18,922,323 shares)	(4,699)			(3,524)
Additional paid-in capital	13,250			14,393
Retained earnings	69,950			61,561
Accumulated other comprehensive income (loss) (AOCI)	(4,975)			(8,644)
Total Chubb shareholders' equity	73,757			64,021
Noncontrolling interests (includes VIE balances of $5,133 and $3,459)	6,022			4,373
Total shareholders’ equity	79,779			68,394
Total liabilities and shareholders’ equity	$272,327			$246,548

ContentsView on SEC.gov

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