10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2016 | |||
Consolidated Statements Of Operations and Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues | |||
| Net premiums written | $ 28,145 | 17,713 | 17,799 |
| Decrease (increase) in unearned premiums | 604 | (500) | (373) |
| Net premiums earned | 28,749 | 17,213 | 17,426 |
| Net investment income | 2,865 | 2,194 | 2,252 |
| Net realized gains (losses): | |||
| Other-than-temporary impairment (OTTI) losses gross | (111) | (151) | (75) |
| Portion of OTTI losses recognized in other comprehensive income (OCI) | 8 | 39 | 7 |
| Net OTTI losses recognized in income | (103) | (112) | (68) |
| Net realized gains (losses) excluding OTTI losses | (42) | (308) | (439) |
| Total Net realized gains (losses) including OTTI | (145) | (420) | (507) |
| Total revenues | 31,469 | 18,987 | 19,171 |
| Expenses | |||
| Losses and loss expenses | 16,052 | 9,484 | 9,649 |
| Policy benefits | 588 | 543 | 517 |
| Policy Acquisition Costs | 5,904 | 2,941 | 3,075 |
| Administrative expenses | 3,081 | 2,270 | 2,245 |
| Interest expense | 605 | 300 | 280 |
| Other (income) expense | (222) | (51) | (190) |
| Amortization of Purchased Intangibles | 19 | 171 | 108 |
| Chubb integration expenses | 492 | 33 | 0 |
| Total expenses | 26,519 | 15,691 | 15,684 |
| Income before income tax | 4,950 | 3,296 | 3,487 |
| Income tax expense | 815 | 462 | 634 |
| Net income | 4,135 | 2,834 | 2,853 |
| Other comprehensive income (loss) | |||
| Unrealized appreciation (depreciation) | (35) | (1,280) | 820 |
| Reclassification adjustment for net realized (gains) losses included in net income | 119 | 151 | 24 |
| Other comprehensive income (loss) after reclassification for net realized gains included in net income | 84 | (1,129) | 844 |
| Change in: | |||
| Cumulative foreign currency translation adjustment | (154) | (958) | (632) |
| Postretirement benefit liability adjustment | 545 | 15 | 2 |
| Other comprehensive income (loss), before income tax | 475 | (2,072) | 214 |
| Income tax (expense) benefit related to OCI items | (54) | 146 | (175) |
| Other comprehensive income (loss) | 421 | (1,926) | 39 |
| Comprehensive income | 4,556 | 908 | 2,892 |
| Earnings per share | |||
| Basic earnings per share | 8.94 | 8.71 | 8.50 |
| Diluted earnings per share | 8.87 | 8.62 | 8.42 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2016 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities | |||
| Net income | $ 4,135 | 2,834 | 2,853 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized (gains) losses | 145 | 420 | 507 |
| Amortization of premiums/discounts on fixed maturities | 737 | 158 | 188 |
| Amortization of UPR related to the Chubb Corp acquisition | 1,559 | 0 | 0 |
| Deferred income taxes | 96 | 113 | 145 |
| Unpaid losses and loss expenses | 332 | (375) | 317 |
| Unearned premiums | (680) | 335 | 441 |
| Future policy benefits | 188 | 216 | 236 |
| Insurance and reinsurance balances payable | 848 | 268 | 376 |
| Accounts payable, accrued expenses, and other liabilities | (97) | 179 | 13 |
| Income taxes payable | 147 | (148) | 103 |
| Insurance and reinsurance balances receivable | (616) | (53) | (469) |
| Reinsurance recoverable on losses and loss expenses | (365) | 218 | 119 |
| Reinsurance recoverable on policy benefits | 7 | 33 | 4 |
| Deferred policy acquisition costs | (1,449) | (435) | (397) |
| Prepaid reinsurance premiums | 18 | (212) | (89) |
| Other | 287 | 313 | 149 |
| Net cash flows from operating activities | 5,292 | 3,864 | 4,496 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (30,759) | (16,040) | (15,553) |
| Purchases of to be announced mortgage-backed securities | (56) | (31) | |
| Purchases of fixed maturities held to maturity | (282) | (62) | (267) |
| Purchases of equity securities | (146) | (158) | (251) |
| Sales of fixed maturities available for sale | 16,621 | 10,783 | 7,482 |
| Sales of to be announced mortgage-backed securities | 56 | 31 | |
| Sales of equity securities | 1,000 | 183 | 670 |
| Maturities and redemptions of fixed maturities available for sale | 9,349 | 6,567 | 6,413 |
| Maturities and redemptions of fixed maturities held to maturity | 958 | 669 | 875 |
| Net change in short-term investments | 12,350 | (8,216) | (603) |
| Net derivative instruments settlements | (168) | (21) | (230) |
| Acquisition of subsidiaries (net of cash acquired of $71, 629, and $20) | (14,248) | 264 | (766) |
| Other | 10 | (263) | (274) |
| Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (5,315) | (6,294) | (2,504) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (1,173) | (862) | (862) |
| Common Shares repurchased | (758) | (1,429) | |
| Proceeds from issuance of long-term debt | 6,090 | 699 | |
| Proceeds from issuance of repurchase agreements | 2,310 | 2,029 | 1,978 |
| Repayment of repurchase agreements | (2,311) | (2,027) | (1,977) |
| Repayments of Long-term Debt | (1,150) | (501) | |
| Proceeds from share-based compensation plans, including windfall tax benefits | 167 | 131 | 127 |
| Policyholder contract deposits | 522 | 503 | 366 |
| Policyholder contract withdrawals | (253) | (221) | (172) |
| Other | (4) | (40) | (6) |
| Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (742) | 3,695 | (1,777) |
| Effect of foreign currency rate changes on cash and cash equivalents | (25) | (145) | (139) |
| Net increase (decrease) in cash | (790) | 1,120 | 76 |
| Cash beginning of year | 1,775 | 655 | |
| Cash end of year | 985 | 1,775 | 655 |
| Supplemental cash flow information | |||
| Taxes paid | 662 | 469 | 349 |
| Interest paid | 642 | 259 | 264 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CHUBB LTD | ||
Ticker: CB Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Fixed maturities available for sale, at fair value (amortized cost - $79,536 and $43,149) (includes hybrid financial instruments of $2 and $31) | $ 80,115 | 43,587 |
| Fixed maturities held to maturity, at amortized cost (fair value $10,670 and $8,552) | 10,644 | 8,430 |
| Equity securities, at fair value (cost $706 and $441) | 814 | 497 |
| Short-term investments, at fair value and amortized cost | 3,002 | 10,446 |
| Other investments (cost $4,270 and $2,993) | 4,519 | 3,291 |
| Total investments | 99,094 | 66,251 |
| Cash | 985 | 1,775 |
| Securities lending collateral | 1,092 | 1,046 |
| Accrued investment income | 918 | 513 |
| Insurance and reinsurance balances receivable | 8,970 | 5,323 |
| Reinsurance recoverable on losses and loss expenses | 13,577 | 11,386 |
| Reinsurance recoverable on policy benefits | 182 | 187 |
| Deferred policy acquisition costs | 4,314 | 2,873 |
| Value of business acquired | 355 | 395 |
| Goodwill | 15,332 | 4,796 |
| Intangible Assets, Net (Excluding Goodwill) | 6,763 | 887 |
| Prepaid reinsurance premiums | 2,448 | 2,082 |
| Deferred Income Tax Assets, Net | 0 | 318 |
| Investments in partially-owned insurance companies | 666 | 653 |
| Other assets | 5,090 | 3,821 |
| Total assets | 159,786 | 102,306 |
| Liabilities | ||
| Unpaid losses and loss expenses | 60,540 | 37,303 |
| Unearned premiums | 14,779 | 8,439 |
| Future policy benefits | 5,036 | 4,807 |
| Insurance and reinsurance balances payable | 5,637 | 4,270 |
| Securities lending payable | 1,093 | 1,047 |
| Accounts payable, accrued expenses, and other liabilities | 8,617 | 6,205 |
| Deferred Income Tax Liabilities, Net | 988 | 0 |
| Repurchase agreements | 1,403 | 1,404 |
| Short-term debt | 500 | 0 |
| Long-term debt | 12,610 | 9,389 |
| Trust preferred securities | 308 | 307 |
| Total liabilities | 111,511 | 73,171 |
| Commitments and contingencies | ||
| Shareholders' equity | ||
| Common Shares (CHF 24.15 par value; 479,783,864 and 342,832,412 shares issued; 465,968,716 and 324,563,441 shares outstanding) | 11,121 | 7,833 |
| Common Shares in treasury (13,815,148 and 18,268,971 shares) | (1,480) | (1,922) |
| Additional paid-in capital | 15,335 | 4,481 |
| Retained earnings | 23,613 | 19,478 |
| Accumulated other comprehensive income (loss) (AOCI) | (314) | (735) |
| Total shareholders' equity | 48,275 | 29,135 |
| Total liabilities and shareholders equity | 159,786 | 102,306 |
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2016 | |
| 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 |