10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | |||
| Premiums Earned | $ 11,838 | 11,644 | 11,215 |
| Investment Income | 1,556 | 1,644 | 1,665 |
| Other Revenues | 8 | 9 | 13 |
| Realized Investment Gains (Losses), Net | |||
| Total Other-Than-Temporary Impairment Losses on Investments | (40) | (22) | (6) |
| Other-Than-Temporary Impairment Losses on Investments Recognized in Other Comprehensive Income | (5) | (1) | (5) |
| Other Realized Investment Gains, Net | 238 | 311 | 437 |
| Total Realized Investment Gains, Net | 193 | 288 | 426 |
| TOTAL REVENUES | 13,595 | 13,585 | 13,319 |
| Losses and Expenses | |||
| Losses and Loss Expenses | 7,507 | 7,407 | 6,499 |
| Amortization of Deferred Policy Acquisition Costs | 2,411 | 2,330 | 2,183 |
| Other Insurance Operating Costs and Expenses | 1,362 | 1,312 | 1,309 |
| Investment Expenses | 38 | 39 | 35 |
| Other Expenses | 11 | 11 | 15 |
| Corporate Expenses | 270 | 287 | 290 |
| TOTAL LOSSES AND EXPENSES | 11,599 | 11,386 | 10,331 |
| INCOME BEFORE FEDERAL AND FOREIGN INCOME TAX | 1,996 | 2,199 | 2,988 |
| Federal and Foreign Income Tax | 451 | 521 | 814 |
| NET INCOME | 1,545 | 1,678 | 2,174 |
| Net Income Per Share | |||
| Basic | 5.73 | 5.80 | 6.81 |
| Diluted | 5.69 | 5.76 | 6.76 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2012 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Consolidated Statements of Comprehensive Income | |||
| Net Income | $ 1,545 | 1,678 | 2,174 |
| Other Comprehensive Income (Loss), Net of Tax | |||
| Change in Unrealized Appreciation of Investments | 275 | 615 | 69 |
| Change in Unrealized Other-Than-Temporary Impairment Losses on Investments | 2 | 1 | 7 |
| Foreign Currency Translation Gains (Losses) | (11) | 4 | (18) |
| Change in Postretirement Benefit Costs Not Yet Recognized in Net Income | (30) | (215) | 12 |
| Total Other Comprehensive Income, Net of Tax | 236 | 405 | 70 |
| COMPREHENSIVE INCOME | 1,781 | 2,083 | 2,244 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 1,545 | 1,678 | 2,174 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Increase in Unpaid Losses and Loss Expenses, Net | 691 | 361 | 145 |
| Increase in Unearned Premiums, Net | 32 | 114 | 21 |
| Decrease (Increase) in Premiums Receivable | (24) | (63) | 3 |
| Change in Income Tax Payable or Recoverable | (53) | (102) | 178 |
| Deferred Income Tax | 32 | 25 | 136 |
| Amortization of Premiums and Discounts on Fixed Maturities | 163 | 147 | 154 |
| Depreciation | 54 | 58 | 63 |
| Realized Investment Gains, Net | (193) | (288) | (426) |
| Other, Net | 52 | (52) | (117) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 2,299 | 1,878 | 2,331 |
| Cash Flows from Investing Activities | |||
| Proceeds from Fixed Maturities - Sales | 2,271 | 1,730 | 2,287 |
| Proceeds from Fixed Maturities - Maturities, Calls and Redemptions | 4,290 | 3,540 | 2,856 |
| Proceeds from Sales of Equity Securities | 160 | 167 | 129 |
| Purchases of Fixed Maturities | (7,247) | (5,014) | (5,176) |
| Purchases of Equity Securities | (112) | (95) | (156) |
| Investments in Other Invested Assets, Net | 293 | 285 | 173 |
| Decrease (Increase) in Short Term Investments, Net | (629) | 11 | 38 |
| Increase (Decrease) in Net Payable from Security Transactions not Settled | 45 | 8 | (24) |
| Purchases of Property and Equipment, Net | (43) | (52) | (54) |
| Other, Net | (6) | ||
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (972) | 580 | 67 |
| Cash Flows from Financing Activities | |||
| Repayment of Long Term Debt | (400) | ||
| Increase (Decrease) in Funds Held under Deposit Contracts | (12) | 7 | 22 |
| Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans | 74 | 80 | 74 |
| Repurchase of Shares | (959) | (1,707) | (2,003) |
| Dividends Paid to Shareholders | (438) | (450) | (472) |
| NET CASH USED IN FINANCING ACTIVITIES | (1,335) | (2,470) | (2,379) |
| Net Increase (Decrease) in Cash | (8) | (12) | 19 |
| Cash at Beginning of Year | 58 | 70 | |
| CASH AT END OF YEAR | 50 | 58 | 70 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CHUBB LTD | ||
Ticker: CB Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| Assets | ||
| Short Term Investments | $ 2,528 | 1,893 |
| Fixed Maturities (cost $35,398 and $34,762) | 38,076 | 37,184 |
| Equity Securities (cost $1,244 and $1,264) | 1,663 | 1,512 |
| Other Invested Assets | 1,954 | 2,180 |
| TOTAL INVESTED ASSETS | 44,221 | 42,769 |
| Cash | 50 | 58 |
| Accrued Investment Income | 424 | 440 |
| Premiums Receivable | 2,185 | 2,161 |
| Reinsurance Recoverable on Unpaid Losses and Loss Expenses | 1,941 | 1,739 |
| Prepaid Reinsurance Premiums | 337 | 320 |
| Deferred Policy Acquisition Costs | 1,206 | 1,210 |
| Goodwill | 467 | 467 |
| Other Assets | 1,353 | 1,281 |
| TOTAL ASSETS | 52,184 | 50,445 |
| Liabilities | ||
| Unpaid Losses and Loss Expenses | 23,963 | 23,068 |
| Unearned Premiums | 6,361 | 6,322 |
| Long Term Debt | 3,575 | 3,575 |
| Dividend Payable to Shareholders | 108 | 107 |
| Deferred Income Tax | 162 | 2 |
| Accrued Expenses and Other Liabilities | 2,188 | 2,070 |
| TOTAL LIABILITIES | 36,357 | 35,144 |
| Commitments and Contingent Liabilities (Note 6 and 13) | ||
| Shareholders' Equity | ||
| Preferred Stock - Authorized 8,000,000 Shares; $1 Par Value; Issued - None | ||
| Common Stock - Authorized 1,200,000,000 Shares; $1 Par Value; Issued 371,980,460 Shares | 372 | 372 |
| Paid-In Surplus | 178 | 190 |
| Retained Earnings | 20,009 | 18,903 |
| Accumulated Other Comprehensive Income | 1,431 | 1,195 |
| Treasury Stock, at Cost - 110,217,445 and 99,519,509 Shares | (6,163) | (5,359) |
| TOTAL SHAREHOLDERS' EQUITY | 15,827 | 15,301 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 52,184 | 50,445 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2012 | |||
Consolidated Statements Of Operations and Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues | |||
| Net premiums written | $ 16,075,000,000 | 15,372,000,000 | 13,708,000,000 |
| Change in unearned premiums | (398,000,000) | 15,000,000 | (204,000,000) |
| Net premiums earned | 15,677,000,000 | 15,387,000,000 | 13,504,000,000 |
| Net investment income | 2,181,000,000 | 2,242,000,000 | 2,070,000,000 |
| Net realized gains (losses): | |||
| Other-than-temporary impairment (OTTI) losses gross | (38,000,000) | (65,000,000) | (128,000,000) |
| Portion of OTTI losses recognized in other comprehensive income (OCI) | 1,000,000 | 15,000,000 | 69,000,000 |
| Net OTTI losses recognized in income | (37,000,000) | (50,000,000) | (59,000,000) |
| Net realized gains (losses) excluding OTTI losses | 115,000,000 | (745,000,000) | 491,000,000 |
| Total net realized gains (losses) | 78,000,000 | (795,000,000) | 432,000,000 |
| Total revenues | 17,936,000,000 | 16,834,000,000 | 16,006,000,000 |
| Expenses | |||
| Losses and loss expenses | 9,653,000,000 | 9,520,000,000 | 7,579,000,000 |
| Policy benefits | 521,000,000 | 401,000,000 | 357,000,000 |
| Policy acquisition costs | 2,446,000,000 | 2,472,000,000 | 2,345,000,000 |
| Administrative expenses | 2,096,000,000 | 2,068,000,000 | 1,873,000,000 |
| Interest expense | 250,000,000 | 250,000,000 | 224,000,000 |
| Other (income) expense | (6,000,000) | 81,000,000 | (10,000,000) |
| Total expenses | 14,960,000,000 | 14,792,000,000 | 12,368,000,000 |
| Income before income tax | 2,976,000,000 | 2,042,000,000 | 3,638,000,000 |
| Income tax expense | 270,000,000 | 502,000,000 | 553,000,000 |
| Net income (loss) | 2,706,000,000 | 1,540,000,000 | 3,085,000,000 |
| Other comprehensive income (loss) | |||
| Unrealized appreciation | 1,350,000,000 | 646,000,000 | 1,526,000,000 |
| Reclassification adjustment for net realized gains included in net income | (234,000,000) | (173,000,000) | (632,000,000) |
| Other comprehensive income (loss) | 1,116,000,000 | 473,000,000 | 894,000,000 |
| Change in: | |||
| Cumulative translation adjustment | 116,000,000 | (5,000,000) | (7,000,000) |
| Pension liability | (35,000,000) | 8,000,000 | 11,000,000 |
| Other comprehensive income, before income tax | 1,197,000,000 | 476,000,000 | 898,000,000 |
| Income tax expense related to OCI items | (221,000,000) | (159,000,000) | (127,000,000) |
| Other comprehensive income (loss) | 976,000,000 | 317,000,000 | 771,000,000 |
| Comprehensive income | 3,682,000,000 | 1,857,000,000 | 3,856,000,000 |
| Earnings per share | |||
| Basic earnings per share (US$ per share) | 8 | 5 | 9 |
| Diluted earnings per share (US$ per share) | 8 | 5 | 9 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2012 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash flows from operating activities | |||
| Net income | $ 2,706,000,000 | 1,540,000,000 | 3,085,000,000 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized (gains) losses | (78,000,000) | 795,000,000 | (432,000,000) |
| Amortization of premiums/discounts on fixed maturities | 220,000,000 | 152,000,000 | 145,000,000 |
| Deferred income taxes | (7,000,000) | 15,000,000 | 110,000,000 |
| Unpaid losses and loss expenses | 203,000,000 | 43,000,000 | (360,000,000) |
| Unearned premiums | 522,000,000 | 9,000,000 | 262,000,000 |
| Future policy benefits | 158,000,000 | 78,000,000 | 48,000,000 |
| Insurance and reinsurance balances payable | (151,000,000) | 216,000,000 | (172,000,000) |
| Accounts payable, accrued expenses, and other liabilities | (42,000,000) | 39,000,000 | 130,000,000 |
| Income taxes payable | (167,000,000) | 39,000,000 | 10,000,000 |
| Insurance and reinsurance balances receivable | 335,000,000 | (217,000,000) | 50,000,000 |
| Reinsurance recoverable on losses and loss expenses | 372,000,000 | 531,000,000 | 626,000,000 |
| Reinsurance recoverable on policy benefits | 52,000,000 | 25,000,000 | 49,000,000 |
| Deferred policy acquisition costs | (340,000,000) | (122,000,000) | (170,000,000) |
| Prepaid reinsurance premiums | (123,000,000) | (34,000,000) | (13,000,000) |
| Other | 335,000,000 | 361,000,000 | 178,000,000 |
| Net cash flows from operating activities | 3,995,000,000 | 3,470,000,000 | 3,546,000,000 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (23,455,000,000) | (23,823,000,000) | (29,985,000,000) |
| Purchases of to be announced mortgage-backed securities | (389,000,000) | (755,000,000) | (1,271,000,000) |
| Purchases of fixed maturities held to maturity | (388,000,000) | (340,000,000) | (616,000,000) |
| Purchases of equity securities | (135,000,000) | (309,000,000) | (794,000,000) |
| Sales of fixed maturities available for sale | 14,321,000,000 | 17,176,000,000 | 23,096,000,000 |
| Sales of to be announced mortgage-backed securities | 448,000,000 | 795,000,000 | 1,183,000,000 |
| Sales of equity securities | 119,000,000 | 376,000,000 | 774,000,000 |
| Maturities and redemptions of fixed maturities available for sale | 5,523,000,000 | 3,720,000,000 | 3,660,000,000 |
| Maturities and redemptions of fixed maturities held to maturity | 1,451,000,000 | 1,279,000,000 | 1,353,000,000 |
| Net derivative instruments settlements | (281,000,000) | (67,000,000) | (109,000,000) |
| Acquisition of subsidiaries (net of cash acquired of $8, $91 and $80) | (98,000,000) | (606,000,000) | (1,139,000,000) |
| Other | (555,000,000) | (482,000,000) | (333,000,000) |
| Net cash flows from (used for) investing activities | (3,439,000,000) | (3,036,000,000) | (4,181,000,000) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (815,000,000) | (459,000,000) | (435,000,000) |
| Common Shares repurchased | (11,000,000) | (195,000,000) | (235,000,000) |
| Proceeds from issuance of short-term debt | 2,933,000,000 | 5,238,000,000 | 1,300,000,000 |
| Repayment of short-term debt | (2,783,000,000) | (5,288,000,000) | (159,000,000) |
| Proceeds from issuances of long-term debt | 699,000,000 | ||
| Repayments of Long-term Debt | (500,000,000) | ||
| Proceeds from share-based compensation plans | 126,000,000 | 139,000,000 | 62,000,000 |
| Net cash flows from (used for) financing activities | (550,000,000) | (565,000,000) | 732,000,000 |
| Effect of foreign currency rate changes on cash and cash equivalents | (5,000,000) | (27,000,000) | 6,000,000 |
| Net increase (decrease) in cash | 1,000,000 | (158,000,000) | 103,000,000 |
| Cash - beginning of period | 614,000,000 | 772,000,000 | |
| Cash - end of period | 615,000,000 | 614,000,000 | 772,000,000 |
| Supplemental cash flow information | |||
| Taxes paid | 438,000,000 | 460,000,000 | 434,000,000 |
| Interest paid | 240,000,000 | 234,000,000 | 204,000,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CHUBB LTD | ||
Ticker: CB Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | ||
| (In Dollars) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| Assets | ||
| Fixed maturities available for sale, at fair value (amortized cost - $44,666 and $40,450) (includes hybrid financial instruments of $309 and $357) | $ 47,306,000,000 | 41,967,000,000 |
| Fixed maturities held to maturity, at amortized cost (fair value - $7,633 and $8,605) | 7,270,000,000 | 8,447,000,000 |
| Equity securities, at fair value (cost - $707 and $671) | 744,000,000 | 647,000,000 |
| Short-term investments, at fair value and amortized cost | 2,228,000,000 | 2,301,000,000 |
| Other investments (cost - $2,465 and $2,112) | 2,716,000,000 | 2,314,000,000 |
| Total investments | 60,264,000,000 | 55,676,000,000 |
| Cash | 615,000,000 | 614,000,000 |
| Securities lending collateral | 1,791,000,000 | 1,375,000,000 |
| Accrued investment income | 552,000,000 | 547,000,000 |
| Insurance and reinsurance balances receivable | 4,147,000,000 | 4,387,000,000 |
| Reinsurance recoverable on losses and loss expenses | 12,078,000,000 | 12,389,000,000 |
| Reinsurance recoverable on policy benefits | 241,000,000 | 249,000,000 |
| Deferred policy acquisition costs | 1,873,000,000 | 1,548,000,000 |
| Value of business acquired | 614,000,000 | 676,000,000 |
| Goodwill and other intangible assets | 4,975,000,000 | 4,799,000,000 |
| Prepaid reinsurance premiums | 1,617,000,000 | 1,541,000,000 |
| Deferred tax assets | 453,000,000 | 673,000,000 |
| Investments in partially-owned insurance companies (cost - $451 and $345) | 454,000,000 | 352,000,000 |
| Other assets | 2,871,000,000 | 2,495,000,000 |
| Total assets | 92,545,000,000 | 87,321,000,000 |
| Liabilities | ||
| Unpaid losses and loss expenses | 37,946,000,000 | 37,477,000,000 |
| Unearned premiums | 6,864,000,000 | 6,334,000,000 |
| Future policy benefits | 4,470,000,000 | 4,274,000,000 |
| Insurance and reinsurance balances payable | 3,472,000,000 | 3,542,000,000 |
| Securities lending payable | 1,795,000,000 | 1,385,000,000 |
| Accounts payable, accrued expenses, and other liabilities | 5,377,000,000 | 4,898,000,000 |
| Income taxes payable | 20,000,000 | 159,000,000 |
| Short-term debt | 1,401,000,000 | 1,251,000,000 |
| Long-term debt | 3,360,000,000 | 3,360,000,000 |
| Trust preferred securities | 309,000,000 | 309,000,000 |
| Total liabilities | 65,014,000,000 | 62,989,000,000 |
| Shareholders' equity | ||
| Common Shares (CHF 28.89 and CHF 30.27 par value; 342,832,412 shares issued; 340,321,534 and 336,927,276 shares outstanding) | 9,591,000,000 | 10,095,000,000 |
| Common Shares in treasury (2,510,878 and 5,905,136 shares) | (159,000,000) | (327,000,000) |
| Additional paid-in capital | 5,179,000,000 | 5,326,000,000 |
| Retained earnings | 10,033,000,000 | 7,327,000,000 |
| Accumulated other comprehensive income (AOCI) | 2,887,000,000 | 1,911,000,000 |
| Total shareholders' equity | 27,531,000,000 | 24,332,000,000 |
| Total liabilities and shareholders' equity | 92,545,000,000 | 87,321,000,000 |
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2012 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |