v3.26.3
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Assets    
Short-term investments, at fair value (amortized cost – $5,295 and $4,840) (includes variable interest entities (VIE) balances of $255 and $105) $ 5,293 $ 4,840
Fixed maturities available-for-sale, at fair value, net of valuation allowance – $53 and $52 (amortized cost – $134,146 and $124,726) 125,804 122,680
Private debt held-for-investment, at amortized cost, net of valuation allowance – $2 and $3 2,261 2,411
Equity securities, at fair value (includes VIE balances of $2,349 and $2,275) 10,760 10,801
Private equities (includes VIE balances of $48 and $22) 17,528 17,239
Other investments (includes VIE balances of $4,609 and $5,818) 10,861 10,749
Total investments 172,507 168,720
Cash, including restricted cash $250 and $198 (includes VIE balances of $313 and $168) 3,010 2,470
Securities lending collateral 2,295 2,500
Accrued investment income 1,559 1,305
Insurance and reinsurance balances receivable, net of valuation allowance – $75 and $62 18,188 15,944
Reinsurance recoverable on losses and loss expenses, net of valuation allowance – $332 and $320 [1] 20,611 20,338
Reinsurance recoverable on policy benefits [1] 306 286
Deferred policy acquisition costs 11,422 10,008
Value of business acquired 3,011 2,975
Goodwill 20,546 [2] 20,207
Other intangible assets 6,119 6,241
Deferred tax assets 1,455 1,312
Prepaid reinsurance premiums 4,484 3,874
Separate account assets 7,340 6,925
Other assets (includes VIE balances of $59 and $58) 10,656 9,222
Total assets 283,509 272,327
Liabilities    
Unpaid losses and loss expenses 91,829 88,018
Unearned premiums 28,608 26,279
Future policy benefits 21,133 18,420
Market risk benefits 530 659
Policyholders' account balances 9,445 8,576
Separate account liabilities 7,340 6,925
Insurance and reinsurance balances payable 8,837 8,349
Repurchase agreements (includes VIE balances of $782 and $956) 3,225 3,324
Securities lending payable 2,295 2,500
Accounts payable, accrued expenses, and other liabilities (includes VIE balances of $103 and $159) 10,817 10,108
Deferred tax liabilities 1,852 1,741
Short-term debt 668 1,499
Long-term debt 17,990 15,728
Hybrid debt 428 422
Total liabilities 204,997 192,548
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; 382,530,069 and 391,101,227 shares outstanding) 224 231
Common Shares in treasury (17,590,778 and 21,006,194 shares) (4,419) (4,699)
Additional paid-in capital 12,386 13,250
Retained earnings 74,519 69,950
Accumulated other comprehensive income (loss) (AOCI) (9,483) (4,975)
Total Chubb shareholders’ equity 73,227 73,757
Noncontrolling interests (includes VIE balances of $4,468 and $5,133) 5,285 6,022
Total shareholders' equity 78,512 79,779
Total liabilities and shareholders’ equity $ 283,509 $ 272,327
[1] Net of valuation allowance for uncollectible reinsurance.
[2] Includes $440 million attributable to noncontrolling interests.