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: 2017 | |||
Consolidated Statements Of Operations and Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues | |||
| Net premiums written | $ 29,244 | 28,145 | 17,713 |
| (Increase) decrease in unearned premiums | (210) | 604 | (500) |
| Net premiums earned | 29,034 | 28,749 | 17,213 |
| Net investment income | 3,125 | 2,865 | 2,194 |
| Net realized gains (losses): | |||
| Other-than-temporary impairment (OTTI) losses gross | (46) | (111) | (151) |
| Portion of OTTI losses recognized in other comprehensive income (OCI) | 1 | 8 | 39 |
| Net OTTI losses recognized in income | (45) | (103) | (112) |
| Net realized gains (losses) excluding OTTI losses | 129 | (42) | (308) |
| Total Net realized gains (losses) including OTTI | 84 | (145) | (420) |
| Total revenues | 32,243 | 31,469 | 18,987 |
| Expenses | |||
| Losses and loss expenses | 18,454 | 16,052 | 9,484 |
| Policy benefits | 676 | 588 | 543 |
| Policy Acquisition Costs | 5,781 | 5,904 | 2,941 |
| Administrative expenses | 2,833 | 3,081 | 2,270 |
| Interest expense | 607 | 605 | 300 |
| Other (income) expense | (400) | (222) | (51) |
| Amortization of Purchased Intangibles | 260 | 19 | 171 |
| Chubb integration expenses | 310 | 492 | 33 |
| Total expenses | 28,521 | 26,519 | 15,691 |
| Income before income tax | 3,722 | 4,950 | 3,296 |
| Income tax expense | (139) | 815 | 462 |
| Net income | 3,861 | 4,135 | 2,834 |
| Other comprehensive income (loss) | |||
| Unrealized appreciation (depreciation) | 618 | (35) | (1,280) |
| Reclassification adjustment for net realized (gains) losses included in net income | 15 | 119 | 151 |
| Other comprehensive income (loss) after reclassification for net realized gains included in net income | 633 | 84 | (1,129) |
| Change in: | |||
| Cumulative foreign currency translation adjustment | 471 | (154) | (958) |
| Postretirement benefit liability adjustment | (16) | 545 | 15 |
| Other comprehensive income (loss), before income tax | 1,088 | 475 | (2,072) |
| Income tax (expense) benefit related to OCI items | (231) | (54) | 146 |
| Other comprehensive income (loss) | 857 | 421 | (1,926) |
| Comprehensive income | 4,718 | 4,556 | 908 |
| Earnings per share | |||
| Basic earnings per share | 8.26 | 8.94 | 8.71 |
| Diluted earnings per share | 8.19 | 8.87 | 8.62 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2017 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities | |||
| Net income | $ 3,861 | 4,135 | 2,834 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized (gains) losses | (84) | 145 | 420 |
| Amortization of premiums/discounts on fixed maturities | 694 | 737 | 158 |
| Amortization of UPR related to the Chubb Corp acquisition and other intangibles | 260 | 1,578 | 171 |
| Deferred income taxes | (527) | 96 | 113 |
| Unpaid losses and loss expenses | 2,137 | 332 | (375) |
| Unearned premiums | 264 | (680) | 335 |
| Future policy benefits | 217 | 188 | 216 |
| Insurance and reinsurance balances payable | 271 | 848 | 268 |
| Accounts payable, accrued expenses, and other liabilities | (517) | (97) | 179 |
| Income taxes payable | (365) | 147 | (148) |
| Insurance and reinsurance balances receivable | (243) | (616) | (53) |
| Reinsurance recoverable on losses and loss expenses | (1,248) | (365) | 218 |
| Reinsurance recoverable on policy benefits | 7 | 33 | |
| Deferred policy acquisition costs | (317) | (1,449) | (435) |
| Prepaid reinsurance premiums | (82) | 18 | (212) |
| Other | 182 | 268 | 142 |
| Net cash flows from operating activities | 4,503 | 5,292 | 3,864 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (25,720) | (30,759) | (16,040) |
| Purchases of to be announced mortgage-backed securities | (27) | (56) | (31) |
| Purchases of fixed maturities held to maturity | (352) | (282) | (62) |
| Purchases of equity securities | (173) | (146) | (158) |
| Sales of fixed maturities available for sale | 13,228 | 16,621 | 10,783 |
| Sales of to be announced mortgage-backed securities | 27 | 56 | 31 |
| Sales of equity securities | 187 | 1,000 | 183 |
| Maturities and redemptions of fixed maturities available for sale | 10,425 | 9,349 | 6,567 |
| Maturities and redemptions of fixed maturities held to maturity | 879 | 958 | 669 |
| Net change in short-term investments | (537) | 12,350 | (8,216) |
| Net derivative instruments settlements | (265) | (168) | (21) |
| Acquisition of subsidiaries (net of cash acquired of $nil, $71, and $629) | (14,248) | 264 | |
| Other | (114) | 10 | (263) |
| Net Cash Provided by (Used in) Investing Activities, Continuing Operations | (2,442) | (5,315) | (6,294) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (1,308) | (1,173) | (862) |
| Common Shares repurchased | (801) | (758) | |
| Proceeds from issuance of long-term debt | 6,090 | ||
| Proceeds from issuance of repurchase agreements | 2,353 | 2,310 | 2,029 |
| Repayment of repurchase agreements | (2,348) | (2,311) | (2,027) |
| Repayments of Long-term Debt | (501) | 0 | (1,150) |
| Proceeds from share-based compensation plans | 151 | 167 | 131 |
| Policyholder contract deposits | 442 | 522 | 503 |
| Policyholder contract withdrawals | (307) | (253) | (221) |
| Other | 0 | (4) | (40) |
| Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (2,319) | (742) | 3,695 |
| Effect of foreign currency rate changes on cash and cash equivalents | 1 | (25) | (145) |
| Net increase (decrease) in cash | (257) | (790) | 1,120 |
| Cash beginning of year | 985 | 1,775 | |
| Cash end of year | 728 | 985 | 1,775 |
| Supplemental cash flow information | |||
| Taxes paid | 736 | 662 | 469 |
| Interest paid | 644 | 642 | 259 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
CHUBB LTD | ||
Ticker: CB Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 23, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| Assets | ||
| Fixed maturities available for sale, at fair value (amortized cost - $77,835 and $79,536) (includes hybrid financial instruments of $5 and $2) | $ 78,939 | 80,115 |
| Fixed maturities held to maturity, at amortized cost (fair value $14,474 and $10,670) | 14,335 | 10,644 |
| Equity securities, at fair value (cost $737 and $706) | 937 | 814 |
| Short-term investments, at fair value and amortized cost | 3,561 | 3,002 |
| Other investments (cost $4,417 and $4,270) | 4,672 | 4,519 |
| Total investments | 102,444 | 99,094 |
| Cash | 728 | 985 |
| Securities lending collateral | 1,737 | 1,092 |
| Accrued investment income | 909 | 918 |
| Insurance and reinsurance balances receivable | 9,334 | 8,970 |
| Reinsurance recoverable on losses and loss expenses | 15,034 | 13,577 |
| Reinsurance recoverable on policy benefits | 184 [1] | 182 |
| Deferred policy acquisition costs | 4,723 | 4,314 |
| Value of business acquired | 326 | 355 |
| Goodwill | 15,541 | 15,332 |
| Intangible Assets, Net (Excluding Goodwill) | 6,513 | 6,763 |
| Prepaid reinsurance premiums | 2,529 | 2,448 |
| Investments in partially-owned insurance companies | 662 | 666 |
| Other assets | 6,358 | 5,090 |
| Total assets | 167,022 | 159,786 |
| Liabilities | ||
| Unpaid losses and loss expenses | 63,179 | 60,540 |
| Unearned premiums | 15,216 | 14,779 |
| Future policy benefits | 5,321 | 5,036 |
| Insurance and reinsurance balances payable | 5,868 | 5,637 |
| Collateral held under securities lending agreements | 1,737 | 1,093 |
| Accounts payable, accrued expenses, and other liabilities | 9,545 | 8,617 |
| Deferred Income Tax Liabilities, Net | 699 | 988 |
| Repurchase agreements | 1,408 | 1,403 |
| Short-term debt | 1,013 | 500 |
| Long-term debt | 11,556 | 12,610 |
| Trust preferred securities | 308 | 308 |
| Total liabilities | 115,850 | 111,511 |
| Commitments and contingencies | ||
| Shareholders' equity | ||
| Common Shares (CHF 24.15 par value; 479,783,864 shares issued; 463,833,179 and 465,968,716 shares outstanding) | 11,121 | 11,121 |
| Common Shares in treasury (15,950,685 and 13,815,148 shares) | (1,944) | (1,480) |
| Additional Paid in Capital, Common Stock | 13,978 | 15,335 |
| Retained earnings | 27,474 | 23,613 |
| Accumulated other comprehensive income (loss) (AOCI) | 543 | (314) |
| Total shareholders' equity | 51,172 | 48,275 |
| Total liabilities and shareholders equity | 167,022 | 159,786 |
| [1] (1) Net of a provision for uncollectible reinsurance. | ||
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2017 | |
| 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 |