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: 2011 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenues | |||
| Premiums Earned | $ 11,644 | 11,215 | 11,331 |
| Investment Income | 1,644 | 1,665 | 1,649 |
| Other Revenues | 9 | 13 | 13 |
| Realized Investment Gains (Losses), Net | |||
| Total Other-Than-Temporary Impairment Losses on Investments | (22) | (6) | (132) |
| Other-Than-Temporary Impairment Losses on Investments Recognized in Other Comprehensive Income | (1) | (5) | 20 |
| Other Realized Investment Gains, Net | 311 | 437 | 135 |
| Total Realized Investment Gains, Net | 288 | 426 | 23 |
| Total Revenues | 13,585 | 13,319 | 13,016 |
| Losses and Expenses | |||
| Losses and Loss Expenses | 7,407 | 6,499 | 6,268 |
| Amortization of Deferred Policy Acquisition Costs | 3,225 | 3,067 | 3,021 |
| Other Insurance Operating Costs and Expenses | 417 | 425 | 416 |
| Investment Expenses | 39 | 35 | 39 |
| Other Expenses | 11 | 15 | 16 |
| Corporate Expenses | 287 | 290 | 294 |
| TOTAL LOSSES AND EXPENSES | 11,386 | 10,331 | 10,054 |
| INCOME BEFORE FEDERAL AND FOREIGN INCOME TAX | 2,199 | 2,988 | 2,962 |
| Federal and Foreign Income Tax | 521 | 814 | 779 |
| NET INCOME | 1,678 | 2,174 | 2,183 |
| Net Income Per Share | |||
| Basic | 5.80 | 6.81 | 6.24 |
| Diluted | 5.76 | 6.76 | 6.18 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2011 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Net Income | $ 1,678 | 2,174 | 2,183 |
| Other Comprehensive Income (Loss), Net of Tax | |||
| Change in Unrealized Appreciation of Investments | 615 | 69 | 1,223 |
| Change in Unrealized Other-Than-Temporary Impairment Losses on Investments | 1 | 7 | (6) |
| Foreign Currency Translation Gains (Losses) | 4 | (18) | 170 |
| Change in Postretirement Benefit Costs Not Yet Recognized in Net Income | (215) | 12 | 98 |
| Total Other Comprehensive Income, Net of Tax | 405 | 70 | 1,485 |
| COMPREHENSIVE INCOME | 2,083 | 2,244 | 3,668 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2011 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 1,678 | 2,174 | 2,183 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Increase in Unpaid Losses and Loss Expenses, Net | 361 | 145 | 262 |
| Increase (Decrease) in Unearned Premiums, Net | 114 | 21 | (254) |
| Decrease (Increase) in Premiums Receivable | (63) | 3 | 100 |
| Change in Income Tax Payable or Recoverable | (102) | 178 | (27) |
| Deferred Income Tax | 25 | 136 | 86 |
| Amortization of Premiums and Discounts on Fixed Maturities | 147 | 154 | 168 |
| Depreciation | 58 | 63 | 69 |
| Realized Investment Gains, Net | (288) | (426) | (23) |
| Other, Net | (52) | (117) | (147) |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 1,878 | 2,331 | 2,417 |
| Cash Flows from Investing Activities | |||
| Proceeds from Fixed Maturities - Sales | 1,730 | 2,287 | 3,029 |
| Proceeds from Fixed Maturities - Maturities, Calls and Redemptions | 3,540 | 2,856 | 2,578 |
| Proceeds from Sales of Equity Securities | 167 | 129 | 394 |
| Purchases of Fixed Maturities | (5,014) | (5,176) | (7,372) |
| Purchases of Equity Securities | (95) | (156) | (37) |
| Investments in Other Invested Assets, Net | 285 | 173 | (37) |
| Decrease (Increase) in Short Term Investments, Net | 11 | 38 | 563 |
| Increase (Decrease) in Net Payable from Security Transactions not Settled | 8 | (24) | 72 |
| Purchases of Property and Equipment, Net | (52) | (54) | (52) |
| Other, Net | (6) | 6 | |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 580 | 67 | (856) |
| Cash Flows from Financing Activities | |||
| Repayment of Long Term Debt | (400) | 0 | 0 |
| Increase (Decrease) in Funds Held Under Deposit Contracts | 7 | 22 | (53) |
| Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans | 80 | 74 | 34 |
| Repurchase of Shares | (1,707) | (2,003) | (1,060) |
| Dividends Paid to Shareholders | (450) | (472) | (487) |
| NET CASH USED IN FINANCING ACTIVITIES | (2,470) | (2,379) | (1,566) |
| Net Increase (Decrease) in Cash | (12) | 19 | (5) |
| Cash at Beginning of Year | 70 | 51 | |
| CASH AT END OF YEAR | 58 | 70 | 51 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CHUBB LTD | ||
Ticker: CB Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Short Term Investments | $ 1,893 | 1,905 |
| Fixed Maturities (cost $ 34,762 and $35,061) | 37,184 | 36,519 |
| Equity Securities (cost $1,264 and $1,285) | 1,512 | 1,550 |
| Other Invested Assets | 2,180 | 2,239 |
| TOTAL INVESTED ASSETS | 42,769 | 42,213 |
| Cash | 58 | 70 |
| Accrued Investment Income | 440 | 447 |
| Premiums Receivable | 2,161 | 2,098 |
| Reinsurance Recoverable on Unpaid Losses and Loss Expenses | 1,739 | 1,817 |
| Prepaid Reinsurance Premiums | 320 | 325 |
| Deferred Policy Acquisition Costs | 1,630 | 1,562 |
| Deferred Income Tax | 0 | 98 |
| Goodwill | 467 | 467 |
| Other Assets | 1,281 | 1,152 |
| TOTAL ASSETS | 50,865 | 50,249 |
| Liabilities | ||
| Unpaid Losses and Loss Expenses | 23,068 | 22,718 |
| Unearned Premiums | 6,322 | 6,189 |
| Long Term Debt | 3,575 | 3,975 |
| Dividend Payable to Shareholders | 107 | 112 |
| Deferred Income Tax | 149 | 0 |
| Accrued Expenses and Other Liabilities | 2,070 | 1,725 |
| TOTAL LIABILITIES | 35,291 | 34,719 |
| Commitments and Contingent Liabilities (Note 6 and 13 ) | ||
| Shareholders' Equity | ||
| Preferred stock - Authorized 8,000,000 Shares; $1 Par Value ; Issued - None | 0 | 0 |
| Common Stock - Authorized 1,200,000,000 Shares; $1 Par Value; Issued 371,980,460 Shares | 372 | 372 |
| Paid-In Surplus | 190 | 208 |
| Retained Earnings | 19,176 | 17,943 |
| Accumulated Other Comprehensive Income | 1,195 | 790 |
| Treasury Stock, at Cost - 99,519,509 and 74,707,547 Shares | (5,359) | (3,783) |
| TOTAL SHAREHOLDERS' EQUITY | 15,574 | 15,530 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 50,865 | 50,249 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2011 | |||
Consolidated Statements Of Operations And Comprehensive Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenues | |||
| Net premiums written | $ 15,372,000,000 | 13,708,000,000 | 13,299,000,000 |
| Change in unearned premiums | 15,000,000 | (204,000,000) | (59,000,000) |
| Net premiums earned | 15,387,000,000 | 13,504,000,000 | 13,240,000,000 |
| Net investment income | 2,242,000,000 | 2,070,000,000 | 2,031,000,000 |
| Net realized gains (losses): | |||
| Other-than-temporary impairment (OTTI) losses gross | (65,000,000) | (128,000,000) | (699,000,000) |
| Portion of OTTI losses recognized in other comprehensive income (OCI) | 15,000,000 | 69,000,000 | 302,000,000 |
| Net OTTI losses recognized in income | (50,000,000) | (59,000,000) | (397,000,000) |
| Net realized gains (losses) excluding OTTI losses | (745,000,000) | 491,000,000 | 201,000,000 |
| Total net realized gains (losses) | (795,000,000) | 432,000,000 | (196,000,000) |
| Total revenues | 16,834,000,000 | 16,006,000,000 | 15,075,000,000 |
| Expenses | |||
| Losses and loss expenses | 9,520,000,000 | 7,579,000,000 | 7,422,000,000 |
| Policy benefits | 401,000,000 | 357,000,000 | 325,000,000 |
| Policy acquisition costs | 2,447,000,000 | 2,337,000,000 | 2,130,000,000 |
| Administrative expenses | 2,052,000,000 | 1,858,000,000 | 1,811,000,000 |
| Interest expense | 250,000,000 | 224,000,000 | 225,000,000 |
| Other (income) expense | 73,000,000 | (16,000,000) | 85,000,000 |
| Total expenses | 14,743,000,000 | 12,339,000,000 | 11,998,000,000 |
| Income before income tax | 2,091,000,000 | 3,667,000,000 | 3,077,000,000 |
| Income tax expense | 506,000,000 | 559,000,000 | 528,000,000 |
| Net income | 1,585,000,000 | 3,108,000,000 | 2,549,000,000 |
| Other comprehensive income (loss) | |||
| Unrealized appreciation | 646,000,000 | 1,526,000,000 | 2,712,000,000 |
| Reclassification adjustment for net realized (gains) losses included in net income | (173,000,000) | (632,000,000) | 75,000,000 |
| Subtotal | 473,000,000 | 894,000,000 | 2,787,000,000 |
| Change in: | |||
| Cumulative translation adjustment | (5,000,000) | (7,000,000) | 568,000,000 |
| Pension liability | 8,000,000 | 11,000,000 | (48,000,000) |
| Other comprehensive income, before income tax | 476,000,000 | 898,000,000 | 3,307,000,000 |
| Income tax expense related to OCI items | (159,000,000) | (127,000,000) | (568,000,000) |
| Other comprehensive income | 317,000,000 | 771,000,000 | 2,739,000,000 |
| Comprehensive income | 1,902,000,000 | 3,879,000,000 | 5,288,000,000 |
| Earnings per share | |||
| Basic earnings per share | 5 | 9 | 8 |
| Diluted earnings per share | 5 | 9 | 8 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2011 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash flows from operating activities | |||
| Net income | $ 1,585,000,000 | 3,108,000,000 | 2,549,000,000 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized losses (gains) | 795,000,000 | (432,000,000) | 196,000,000 |
| Amortization of premiums/discounts on fixed maturities | 152,000,000 | 145,000,000 | 53,000,000 |
| Deferred income taxes | 19,000,000 | 116,000,000 | (19,000,000) |
| Unpaid losses and loss expenses | 43,000,000 | (360,000,000) | 298,000,000 |
| Unearned premiums | 9,000,000 | 262,000,000 | 102,000,000 |
| Future policy benefits | 78,000,000 | 48,000,000 | 67,000,000 |
| Insurance and reinsurance balances payable | 216,000,000 | (172,000,000) | 434,000,000 |
| Accounts payable, accrued expenses, and other liabilities | 39,000,000 | 130,000,000 | (206,000,000) |
| Income taxes payable | 39,000,000 | 10,000,000 | 13,000,000 |
| Insurance and reinsurance balances receivable | (217,000,000) | 50,000,000 | (119,000,000) |
| Reinsurance recoverable on losses and loss expenses | 531,000,000 | 626,000,000 | 518,000,000 |
| Reinsurance recoverable on policy benefits | 25,000,000 | 49,000,000 | (51,000,000) |
| Deferred policy acquisition costs | (160,000,000) | (193,000,000) | (309,000,000) |
| Prepaid reinsurance premiums | (34,000,000) | (13,000,000) | 24,000,000 |
| Other | 350,000,000 | 172,000,000 | (215,000,000) |
| Net cash flows from operating activities | 3,470,000,000 | 3,546,000,000 | 3,335,000,000 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (23,823,000,000) | (29,985,000,000) | (31,789,000,000) |
| Purchases of to be announced mortgage-backed securities | (755,000,000) | (1,271,000,000) | (5,471,000,000) |
| Purchases of fixed maturities held to maturity | (340,000,000) | (616,000,000) | (472,000,000) |
| Purchases of equity securities | (309,000,000) | (794,000,000) | (354,000,000) |
| Sales of fixed maturities available for sale | 17,176,000,000 | 23,096,000,000 | 23,693,000,000 |
| Sales of to be announced mortgage-backed securities | 795,000,000 | 1,183,000,000 | 5,961,000,000 |
| Sales of fixed maturities held to maturity | 11,000,000 | ||
| Sales of equity securities | 376,000,000 | 774,000,000 | 1,272,000,000 |
| Maturities and redemptions of fixed maturities available for sale | 3,720,000,000 | 3,660,000,000 | 3,404,000,000 |
| Maturities and redemptions of fixed maturities held to maturity | 1,279,000,000 | 1,353,000,000 | 514,000,000 |
| Net derivative instruments settlements | (67,000,000) | (109,000,000) | (92,000,000) |
| Acquisition of subsidiaries (net of cash acquired of $91 in 2011 and $80 in 2010) | (606,000,000) | (1,139,000,000) | |
| Other | (482,000,000) | (333,000,000) | 99,000,000 |
| Net cash flows used for investing activities | (3,036,000,000) | (4,181,000,000) | (3,224,000,000) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (459,000,000) | (435,000,000) | (388,000,000) |
| Common Shares repurchased | (195,000,000) | (235,000,000) | |
| Proceeds from issuance of short-term debt | 5,238,000,000 | 1,300,000,000 | |
| Repayment of short-term debt | (5,288,000,000) | (159,000,000) | (466,000,000) |
| Proceeds from issuance of long-term debt | 699,000,000 | 500,000,000 | |
| Repayment of long-term debt | (500,000,000) | ||
| Proceeds from share-based compensation plans | 133,000,000 | 63,000,000 | 25,000,000 |
| Tax benefit (expense) on share-based compensation expense | 6,000,000 | (1,000,000) | 8,000,000 |
| Net cash flows (used for) from financing activities | (565,000,000) | 732,000,000 | (321,000,000) |
| Effect of foreign currency rate changes on cash and cash equivalents | (27,000,000) | 6,000,000 | 12,000,000 |
| Net (decrease) increase in cash | (158,000,000) | 103,000,000 | (198,000,000) |
| Cash - beginning of year | 772,000,000 | 669,000,000 | |
| Cash - end of year | 614,000,000 | 772,000,000 | 669,000,000 |
| Supplemental cash flow information | |||
| Taxes paid | 460,000,000 | 434,000,000 | 538,000,000 |
| Interest paid | 234,000,000 | 204,000,000 | 228,000,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CHUBB LTD | ||
Ticker: CB Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 24, 2012) | ||
| (In Dollars) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Fixed maturities available for sale, at fair value (amortized cost - $40,450 and $36,542) (includes hybrid financial instruments of $357 and $416) | $ 41,967,000,000 | 37,539,000,000 |
| Fixed maturities held to maturity, at amortized cost (fair value - $8,605 and $9,461) | 8,447,000,000 | 9,501,000,000 |
| Equity securities, at fair value (cost - $671 and $666) | 647,000,000 | 692,000,000 |
| Short-term investments, at fair value and amortized cost | 2,301,000,000 | 1,983,000,000 |
| Other investments (cost - $2,112 and $1,511) | 2,314,000,000 | 1,692,000,000 |
| Total investments | 55,676,000,000 | 51,407,000,000 |
| Cash | 614,000,000 | 772,000,000 |
| Securities lending collateral | 1,375,000,000 | 1,495,000,000 |
| Accrued investment income | 547,000,000 | 521,000,000 |
| Insurance and reinsurance balances receivable | 4,387,000,000 | 4,233,000,000 |
| Reinsurance recoverable on losses and loss expenses | 12,389,000,000 | 12,871,000,000 |
| Reinsurance recoverable on policy benefits | 249,000,000 | 281,000,000 |
| Deferred policy acquisition costs | 1,761,000,000 | 1,641,000,000 |
| Value of business acquired | 648,000,000 | 634,000,000 |
| Goodwill and other intangible assets | 4,831,000,000 | 4,664,000,000 |
| Prepaid reinsurance premiums | 1,541,000,000 | 1,511,000,000 |
| Deferred tax assets | 612,000,000 | 769,000,000 |
| Investments in partially-owned insurance companies (cost - $373 and $357) | 380,000,000 | 360,000,000 |
| Other assets | 2,495,000,000 | 2,196,000,000 |
| Total assets | 87,505,000,000 | 83,355,000,000 |
| Liabilities | ||
| Unpaid losses and loss expenses | 37,477,000,000 | 37,391,000,000 |
| Unearned premiums | 6,334,000,000 | 6,330,000,000 |
| Future policy benefits | 4,274,000,000 | 3,106,000,000 |
| Insurance and reinsurance balances payable | 3,542,000,000 | 3,282,000,000 |
| Deposit liabilities | 663,000,000 | 421,000,000 |
| Securities lending payable | 1,385,000,000 | 1,518,000,000 |
| Payable for securities purchased | 287,000,000 | 292,000,000 |
| Accounts payable, accrued expenses, and other liabilities | 3,948,000,000 | 2,958,000,000 |
| Income taxes payable | 159,000,000 | 116,000,000 |
| Short-term debt | 1,251,000,000 | 1,300,000,000 |
| Long-term debt | 3,360,000,000 | 3,358,000,000 |
| Trust preferred securities | 309,000,000 | 309,000,000 |
| Total liabilities | 62,989,000,000 | 60,381,000,000 |
| Commitments and contingencies | ||
| Shareholders' equity | ||
| Common Shares (CHF 30.27 and CHF 30.57 par value, 342,832,412 and 341,094,559 shares issued, 336,927,276 and 334,942,852 shares outstanding) | 10,095,000,000 | 10,161,000,000 |
| Common Shares in treasury (5,905,136 and 6,151,707 shares) | (327,000,000) | (330,000,000) |
| Additional paid-in capital | 5,326,000,000 | 5,623,000,000 |
| Retained earnings | 7,511,000,000 | 5,926,000,000 |
| Deferred compensation obligation | 2,000,000 | |
| Accumulated other comprehensive income (AOCI) | 1,911,000,000 | 1,594,000,000 |
| Common Shares issued to employee trust | (2,000,000) | |
| Total shareholders' equity | 24,516,000,000 | 22,974,000,000 |
| Total liabilities and shareholders' equity | 87,505,000,000 | 83,355,000,000 |
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2011 | |
| 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 |