v3.26.1
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Assets    
Short-term investments, at fair value (amortized cost – $5,459 and $4,840) (includes variable interest entities (VIE) balances of $108 and $105) $ 5,458 $ 4,840
Fixed maturities available-for-sale, at fair value, net of valuation allowance – $48 and $52 (amortized cost – $129,028 and $124,726) 125,518 122,680
Private debt held-for-investment, at amortized cost, net of valuation allowance – $2 and $3 2,252 2,411
Equity securities, at fair value (includes VIE balances of $2,472 and $2,275) 11,014 10,801
Private equities (includes VIE balances of $25 and $22) 17,385 17,239
Other investments (includes VIE balances of $5,050 and $5,818) 11,022 10,749
Total investments 172,649 168,720
Cash, including restricted cash $243 and $198 (includes VIE balances of $243 and $168) 2,753 2,470
Securities lending collateral 1,870 2,500
Accrued investment income 1,491 1,305
Insurance and reinsurance balances receivable, net of valuation allowance – $66 and $62 19,068 15,944
Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $324 and $320 [1] 20,284 20,338
Reinsurance recoverable on policy benefits [1] 333 286
Deferred policy acquisition costs 10,744 10,008
Value of business acquired 2,828 2,975
Goodwill 20,343 [2] 20,207
Other intangible assets 6,145 6,241
Deferred tax assets 1,237 1,312
Prepaid reinsurance premiums 4,683 3,874
Separate account assets 7,471 6,925
Other assets (includes VIE balances of $110 and $58) 9,423 9,222
Total assets 281,322 272,327
Liabilities    
Unpaid losses and loss expenses 89,669 88,018
Unearned premiums 28,511 26,279
Future policy benefits 20,159 18,420
Market risk benefits 505 659
Policyholders' account balances 9,102 8,576
Separate account liabilities 7,471 6,925
Insurance and reinsurance balances payable 9,345 8,349
Repurchase agreements (includes VIE balances of $930 and $956) 3,368 3,324
Securities lending payable 1,870 2,500
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $95 and $159) 10,065 10,108
Deferred tax liabilities 1,870 1,741
Short-term debt 663 1,499
Long-term debt 17,452 15,728
Hybrid debt 427 422
Total liabilities 200,477 192,548
Commitments and contingencies (refer to Note 12)
Shareholders’ equity    
Common Shares (CHF 0.50 par value; 400,120,847 and 412,107,421 shares issued; 385,634,049 and 391,101,227 shares outstanding) 224 231
Common Shares in treasury (14,486,798 and 21,006,194 shares) (3,293) (4,699)
Additional paid-in capital 12,689 13,250
Retained earnings 71,675 69,950
Accumulated other comprehensive income (loss) (AOCI) (5,923) (4,975)
Total Chubb shareholders’ equity 75,372 73,757
Noncontrolling interests (includes VIE balances of $4,655 and $5,133) 5,473 6,022
Total shareholders' equity 80,845 79,779
Total liabilities and shareholders’ equity $ 281,322 $ 272,327
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $426 million attributable to noncontrolling interests.