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Information provided in connection with outstanding debt of subsidiaries (Tables) | 12 Months Ended
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Dec. 31, 2017
Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] |
Condensed Consolidating Balance Sheet | ondensed Consolidating Balance Sheet at December 31, 2017
(in millions of U.S. dollars) | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
Assets |  |  |  |  |  |  |  |  |
Investments | $ | — |  |  | $ | 168 |  |  | $ | 102,276 |  |  | $ | — |  |  | $ | 102,444 |
Cash(1) | 3 |  |  | 1 |  |  | 839 |  |  | (115 | ) |  | 728 |
Insurance and reinsurance balances receivable | — |  |  | — |  |  | 10,820 |  |  | (1,486 | ) |  | 9,334 |
Reinsurance recoverable on losses and loss expenses | — |  |  | — |  |  | 27,514 |  |  | (12,480 | ) |  | 15,034 |
Reinsurance recoverable on policy benefits | — |  |  | — |  |  | 1,194 |  |  | (1,010 | ) |  | 184 |
Value of business acquired | — |  |  | — |  |  | 326 |  |  | — |  |  | 326 |
Goodwill and other intangible assets | — |  |  | — |  |  | 22,054 |  |  | — |  |  | 22,054 |
Investments in subsidiaries | 41,909 |  |  | 51,165 |  |  | — |  |  | (93,074 | ) |  | — |
Due from subsidiaries and affiliates, net | 9,639 |  |  | — |  |  | — |  |  | (9,639 | ) |  | — |
Other assets | 3 |  |  | 287 |  |  | 20,701 |  |  | (4,073 | ) |  | 16,918 |
Total assets | $ | 51,554 |  |  | $ | 51,621 |  |  | $ | 185,724 |  |  | $ | (121,877 | ) |  | $ | 167,022 |
Liabilities |  |  |  |  |  |  |  |  |
Unpaid losses and loss expenses | $ | — |  |  | $ | — |  |  | $ | 74,767 |  |  | $ | (11,588 | ) |  | $ | 63,179 |
Unearned premiums | — |  |  | — |  |  | 18,875 |  |  | (3,659 | ) |  | 15,216 |
Future policy benefits | — |  |  | — |  |  | 6,331 |  |  | (1,010 | ) |  | 5,321 |
Due to subsidiaries and affiliates, net | — |  |  | 9,432 |  |  | 207 |  |  | (9,639 | ) |  | — |
Affiliated notional cash pooling programs(1) | — |  |  | 115 |  |  | — |  |  | (115 | ) |  | — |
Repurchase agreements | — |  |  | — |  |  | 1,408 |  |  | — |  |  | 1,408 |
Short-term debt | — |  |  | 1,013 |  |  | — |  |  | — |  |  | 1,013 |
Long-term debt | — |  |  | 11,546 |  |  | 10 |  |  | — |  |  | 11,556 |
Trust preferred securities | — |  |  | 308 |  |  | — |  |  | — |  |  | 308 |
Other liabilities | 382 |  |  | 1,411 |  |  | 18,848 |  |  | (2,792 | ) |  | 17,849 |
Total liabilities | 382 |  |  | 23,825 |  |  | 120,446 |  |  | (28,803 | ) |  | 115,850 |
Total shareholders’ equity | 51,172 |  |  | 27,796 |  |  | 65,278 |  |  | (93,074 | ) |  | 51,172 |
Total liabilities and shareholders’ equity | $ | 51,554 |  |  | $ | 51,621 |  |  | $ | 185,724 |  |  | $ | (121,877 | ) |  | $ | 167,022 |
(1) Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive. Condensed Consolidating Balance Sheet at December 31, 2016
(in millions of U.S. dollars) | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
Assets |  |  |  |  |  |  |  |  |
Investments | $ | 27 |  |  | $ | 485 |  |  | $ | 98,582 |  |  | $ | — |  |  | $ | 99,094 |
Cash(1) | 1 |  |  | 1 |  |  | 1,965 |  |  | (982 | ) |  | 985 |
Insurance and reinsurance balances receivable | — |  |  | — |  |  | 10,498 |  |  | (1,528 | ) |  | 8,970 |
Reinsurance recoverable on losses and loss expenses | — |  |  | — |  |  | 24,496 |  |  | (10,919 | ) |  | 13,577 |
Reinsurance recoverable on policy benefits | — |  |  | — |  |  | 1,153 |  |  | (971 | ) |  | 182 |
Value of business acquired | — |  |  | — |  |  | 355 |  |  | — |  |  | 355 |
Goodwill and other intangible assets | — |  |  | — |  |  | 22,095 |  |  | — |  |  | 22,095 |
Investments in subsidiaries | 38,408 |  |  | 49,509 |  |  | — |  |  | (87,917 | ) |  | — |
Due from subsidiaries and affiliates, net | 10,482 |  |  | — |  |  | — |  |  | (10,482 | ) |  | — |
Other assets | 3 |  |  | 436 |  |  | 18,442 |  |  | (4,353 | ) |  | 14,528 |
Total assets | $ | 48,921 |  |  | $ | 50,431 |  |  | $ | 177,586 |  |  | $ | (117,152 | ) |  | $ | 159,786 |
Liabilities |  |  |  |  |  |  |  |  |
Unpaid losses and loss expenses | $ | — |  |  | $ | — |  |  | $ | 70,683 |  |  | $ | (10,143 | ) |  | $ | 60,540 |
Unearned premiums | — |  |  | — |  |  | 18,538 |  |  | (3,759 | ) |  | 14,779 |
Future policy benefits | — |  |  | — |  |  | 6,007 |  |  | (971 | ) |  | 5,036 |
Due to subsidiaries and affiliates, net | — |  |  | 10,209 |  |  | 273 |  |  | (10,482 | ) |  | — |
Affiliated notional cash pooling programs(1) | 363 |  |  | 619 |  |  | — |  |  | (982 | ) |  | — |
Repurchase agreements | — |  |  | — |  |  | 1,403 |  |  | — |  |  | 1,403 |
Short-term debt | — |  |  | 500 |  |  | — |  |  | — |  |  | 500 |
Long-term debt | — |  |  | 12,599 |  |  | 11 |  |  | — |  |  | 12,610 |
Trust preferred securities | — |  |  | 308 |  |  | — |  |  | — |  |  | 308 |
Other liabilities | 283 |  |  | 1,582 |  |  | 17,368 |  |  | (2,898 | ) |  | 16,335 |
Total liabilities | 646 |  |  | 25,817 |  |  | 114,283 |  |  | (29,235 | ) |  | 111,511 |
Total shareholders’ equity | 48,275 |  |  | 24,614 |  |  | 63,303 |  |  | (87,917 | ) |  | 48,275 |
Total liabilities and shareholders’ equity | $ | 48,921 |  |  | $ | 50,431 |  |  | $ | 177,586 |  |  | $ | (117,152 | ) |  | $ | 159,786 |
(1) | Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
Condensed Consolidating Statement Of Operations and Comprehensive Income | Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2017 | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
(in millions of U.S. dollars) |  |  |  |
Net premiums written | $ | — |  |  | $ | — |  |  | $ | 29,244 |  |  | $ | — |  |  | $ | 29,244 |
Net premiums earned | — |  |  | — |  |  | 29,034 |  |  | — |  |  | 29,034 |
Net investment income | 4 |  |  | 14 |  |  | 3,107 |  |  | — |  |  | 3,125 |
Equity in earnings of subsidiaries | 3,640 |  |  | 2,424 |  |  | — |  |  | (6,064 | ) |  | — |
Net realized gains (losses) including OTTI | — |  |  | (25 | ) |  | 109 |  |  | — |  |  | 84 |
Losses and loss expenses | — |  |  | — |  |  | 18,454 |  |  | — |  |  | 18,454 |
Policy benefits | — |  |  | — |  |  | 676 |  |  | — |  |  | 676 |
Policy acquisition costs and administrative expenses | 75 |  |  | 40 |  |  | 8,499 |  |  | — |  |  | 8,614 |
Interest (income) expense | (332 | ) |  | 847 |  |  | 92 |  |  | — |  |  | 607 |
Other (income) expense | (12 | ) |  | 93 |  |  | (481 | ) |  | — |  |  | (400 | )
Amortization of purchased intangibles | — |  |  | — |  |  | 260 |  |  | — |  |  | 260 |
Chubb integration expenses | 32 |  |  | 69 |  |  | 209 |  |  | — |  |  | 310 |
Income tax expense (benefit) | 20 |  |  | (742 | ) |  | 583 |  |  | — |  |  | (139 | )
Net income | $ | 3,861 |  |  | $ | 2,106 |  |  | $ | 3,958 |  |  | $ | (6,064 | ) |  | $ | 3,861 |
Comprehensive income | $ | 4,718 |  |  | $ | 3,075 |  |  | $ | 4,430 |  |  | $ | (7,505 | ) |  | $ | 4,718 |
Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2016 | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
(in millions of U.S. dollars) |  |  |  |
Net premiums written | $ | — |  |  | $ | — |  |  | $ | 28,145 |  |  | $ | — |  |  | $ | 28,145 |
Net premiums earned | — |  |  | — |  |  | 28,749 |  |  | — |  |  | 28,749 |
Net investment income | 3 |  |  | 11 |  |  | 2,851 |  |  | — |  |  | 2,865 |
Equity in earnings of subsidiaries | 3,901 |  |  | 2,555 |  |  | — |  |  | (6,456 | ) |  | — |
Net realized gains (losses) including OTTI | — |  |  | 3 |  |  | (148 | ) |  | — |  |  | (145 | )
Losses and loss expenses | — |  |  | — |  |  | 16,052 |  |  | — |  |  | 16,052 |
Policy benefits | — |  |  | — |  |  | 588 |  |  | — |  |  | 588 |
Policy acquisition costs and administrative expenses | 64 |  |  | 82 |  |  | 8,839 |  |  | — |  |  | 8,985 |
Interest (income) expense | (353 | ) |  | 908 |  |  | 50 |  |  | — |  |  | 605 |
Other (income) expense | (25 | ) |  | 35 |  |  | (232 | ) |  | — |  |  | (222 | )
Amortization of purchased intangibles | — |  |  | — |  |  | 19 |  |  | — |  |  | 19 |
Chubb integration expenses | 62 |  |  | 126 |  |  | 304 |  |  | — |  |  | 492 |
Income tax expense (benefit) | 21 |  |  | (416 | ) |  | 1,210 |  |  | — |  |  | 815 |
Net income | $ | 4,135 |  |  | $ | 1,834 |  |  | $ | 4,622 |  |  | $ | (6,456 | ) |  | $ | 4,135 |
Comprehensive income | $ | 4,556 |  |  | $ | 2,001 |  |  | $ | 5,045 |  |  | $ | (7,046 | ) |  | $ | 4,556 |
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
For the Year Ended December 31, 2015 | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
(in millions of U.S. dollars) |  |  |  |
Net premiums written | $ | — |  |  | $ | — |  |  | $ | 17,713 |  |  | $ | — |  |  | $ | 17,713 |
Net premiums earned | — |  |  | — |  |  | 17,213 |  |  | — |  |  | 17,213 |
Net investment income | 3 |  |  | 4 |  |  | 2,187 |  |  | — |  |  | 2,194 |
Equity in earnings of subsidiaries | 2,673 |  |  | 1,038 |  |  | — |  |  | (3,711 | ) |  | — |
Net realized gains (losses) including OTTI | — |  |  | (9 | ) |  | (411 | ) |  | — |  |  | (420 | )
Losses and loss expenses | — |  |  | — |  |  | 9,484 |  |  | — |  |  | 9,484 |
Policy benefits | — |  |  | — |  |  | 543 |  |  | — |  |  | 543 |
Policy acquisition costs and administrative expenses | 63 |  |  | 28 |  |  | 5,120 |  |  | — |  |  | 5,211 |
Interest (income) expense | (32 | ) |  | 302 |  |  | 30 |  |  | — |  |  | 300 |
Other (income) expense | (208 | ) |  | (4 | ) |  | 161 |  |  | — |  |  | (51 | )
Amortization of purchased intangibles | — |  |  | — |  |  | 171 |  |  | — |  |  | 171 |
Chubb Integration Expense | 3 |  |  | 29 |  |  | 1 |  |  | — |  |  | 33 |
Income tax expense (benefit) | 16 |  |  | (349 | ) |  | 795 |  |  | — |  |  | 462 |
Net income | $ | 2,834 |  |  | $ | 1,027 |  |  | $ | 2,684 |  |  | $ | (3,711 | ) |  | $ | 2,834 |
Comprehensive income (loss) | $ | 908 |  |  | $ | (192 | ) |  | $ | 757 |  |  | $ | (565 | ) |  | $ | 908 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2017 | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
(in millions of U.S. dollars) |  |  |  |
Net cash flows from operating activities | $ | 781 |  |  | $ | 1,648 |  |  | $ | 4,598 |  |  | $ | (2,524 | ) |  | $ | 4,503 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchases of fixed maturities available for sale | — |  |  | (9 | ) |  | (25,738 | ) |  | — |  |  | (25,747 | )
Purchases of fixed maturities held to maturity | — |  |  | — |  |  | (352 | ) |  | — |  |  | (352 | )
Purchases of equity securities | — |  |  | — |  |  | (173 | ) |  | — |  |  | (173 | )
Sales of fixed maturities available for sale | — |  |  | 99 |  |  | 13,156 |  |  | — |  |  | 13,255 |
Sales of equity securities | — |  |  | — |  |  | 187 |  |  | — |  |  | 187 |
Maturities and redemptions of fixed maturities available for sale | — |  |  | 29 |  |  | 10,396 |  |  | — |  |  | 10,425 |
Maturities and redemptions of fixed maturities held to maturity | — |  |  | — |  |  | 879 |  |  | — |  |  | 879 |
Net change in short-term investments | — |  |  | 189 |  |  | (726 | ) |  | — |  |  | (537 | )
Net derivative instruments settlements | — |  |  | (15 | ) |  | (250 | ) |  | — |  |  | (265 | )
Other | — |  |  | (10 | ) |  | (104 | ) |  | — |  |  | (114 | )
Net cash flows (used for) from investing activities | — |  |  | 283 |  |  | (2,725 | ) |  | — |  |  | (2,442 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Dividends paid on Common Shares | (1,308 | ) |  | — |  |  | — |  |  | — |  |  | (1,308 | )
Common Shares repurchased | — |  |  | — |  |  | (801 | ) |  | — |  |  | (801 | )
Proceeds from issuance of repurchase agreements | — |  |  | — |  |  | 2,353 |  |  | — |  |  | 2,353 |
Repayment of long-term debt | — |  |  | (500 | ) |  | (1 | ) |  | — |  |  | (501 | )
Repayment of repurchase agreements | — |  |  | — |  |  | (2,348 | ) |  | — |  |  | (2,348 | )
Proceeds from share-based compensation plans | — |  |  | — |  |  | 151 |  |  | — |  |  | 151 |
Advances (to) from affiliates | 892 |  |  | (927 | ) |  | 35 |  |  | — |  |  | — |
Dividends to parent company | — |  |  | — |  |  | (2,524 | ) |  | 2,524 |  |  | — |
Net payments to affiliated notional cash pooling programs(1) | (363 | ) |  | (504 | ) |  | — |  |  | 867 |  |  | — |
Policyholder contract deposits | — |  |  | — |  |  | 442 |  |  | — |  |  | 442 |
Policyholder contract withdrawals | — |  |  | — |  |  | (307 | ) |  | — |  |  | (307 | )
Net cash flows used for financing activities | (779 | ) |  | (1,931 | ) |  | (3,000 | ) |  | 3,391 |  |  | (2,319 | )
Effect of foreign currency rate changes on cash and cash equivalents | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Net increase (decrease) in cash | 2 |  |  | — |  |  | (1,126 | ) |  | 867 |  |  | (257 | )
Cash – beginning of year(1) | 1 |  |  | 1 |  |  | 1,965 |  |  | (982 | ) |  | 985 |
Cash – end of year(1) | $ | 3 |  |  | $ | 1 |  |  | $ | 839 |  |  | $ | (115 | ) |  | $ | 728 |
(1) | Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2017 and 2016, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2016 | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
(in millions of U.S. dollars) |  |  |  |
Net cash flows from operating activities | $ | 3,618 |  |  | $ | 4,305 |  |  | $ | 5,536 |  |  | $ | (8,167 | ) |  | $ | 5,292 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchases of fixed maturities available for sale | — |  |  | (156 | ) |  | (30,659 | ) |  | — |  |  | (30,815 | )
Purchases of fixed maturities held to maturity | — |  |  | — |  |  | (282 | ) |  | — |  |  | (282 | )
Purchases of equity securities | — |  |  | — |  |  | (146 | ) |  | — |  |  | (146 | )
Sales of fixed maturities available for sale | — |  |  | 66 |  |  | 16,611 |  |  | — |  |  | 16,677 |
Sales of equity securities | — |  |  | — |  |  | 1,000 |  |  | — |  |  | 1,000 |
Maturities and redemptions of fixed maturities available for sale | — |  |  | 66 |  |  | 9,283 |  |  | — |  |  | 9,349 |
Maturities and redemptions of fixed maturities held to maturity | — |  |  | — |  |  | 958 |  |  | — |  |  | 958 |
Net change in short-term investments | — |  |  | 7,943 |  |  | 4,407 |  |  | — |  |  | 12,350 |
Net derivative instruments settlements | — |  |  | (9 | ) |  | (159 | ) |  | — |  |  | (168 | )
Acquisition of subsidiaries (net of cash acquired of $71) | — |  |  | (14,282 | ) |  | 34 |  |  | — |  |  | (14,248 | )
Capital contribution | (2,330 | ) |  | (215 | ) |  | (2,330 | ) |  | 4,875 |  |  | — |
Other | — |  |  | (3 | ) |  | 13 |  |  | — |  |  | 10 |
Net cash flows used for investing activities | (2,330 | ) |  | (6,590 | ) |  | (1,270 | ) |  | 4,875 |  |  | (5,315 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Dividends paid on Common Shares | (1,173 | ) |  | — |  |  | — |  |  | — |  |  | (1,173 | )
Proceeds from issuance of repurchase agreements | — |  |  | — |  |  | 2,310 |  |  | — |  |  | 2,310 |
Repayment of repurchase agreements | — |  |  | — |  |  | (2,311 | ) |  | — |  |  | (2,311 | )
Proceeds from share-based compensation plans | — |  |  | — |  |  | 167 |  |  | — |  |  | 167 |
Advances (to) from affiliates | 404 |  |  | (572 | ) |  | 168 |  |  | — |  |  | — |
Dividends to parent company | — |  |  | — |  |  | (8,167 | ) |  | 8,167 |  |  | — |
Capital contribution | — |  |  | 2,330 |  |  | 2,545 |  |  | (4,875 | ) |  | — |
Net proceeds from (payments to) affiliated notional cash pooling programs(1) | (519 | ) |  | 530 |  |  | — |  |  | (11 | ) |  | — |
Policyholder contract deposits | — |  |  | — |  |  | 522 |  |  | — |  |  | 522 |
Policyholder contract withdrawals | — |  |  | — |  |  | (253 | ) |  | — |  |  | (253 | )
Other | — |  |  | (4 | ) |  | — |  |  | — |  |  | (4 | )
Net cash flows (used for) from financing activities | (1,288 | ) |  | 2,284 |  |  | (5,019 | ) |  | 3,281 |  |  | (742 | )
Effect of foreign currency rate changes on cash and cash equivalents | — |  |  | — |  |  | (25 | ) |  | — |  |  | (25 | )
Net decrease in cash | — |  |  | (1 | ) |  | (778 | ) |  | (11 | ) |  | (790 | )
Cash – beginning of year(1) | 1 |  |  | 2 |  |  | 2,743 |  |  | (971 | ) |  | 1,775 |
Cash – end of year(1) | $ | 1 |  |  | $ | 1 |  |  | $ | 1,965 |  |  | $ | (982 | ) |  | $ | 985 |
(1) | Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2016 and 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2015 | Chubb Limited (Parent Guarantor) |  |  | Chubb INA Holdings Inc. (Subsidiary Issuer) |  |  | Other Chubb Limited Subsidiaries |  |  | Consolidating Adjustments and Eliminations |  |  | Chubb Limited Consolidated |
(in millions of U.S. dollars) |  |  |  |
Net cash flows from operating activities | $ | 3,125 |  |  | $ | 682 |  |  | $ | 3,836 |  |  | $ | (3,779 | ) |  | $ | 3,864 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchases of fixed maturities available for sale | — |  |  | — |  |  | (16,053 | ) |  | (18 | ) |  | (16,071 | )
Purchases of fixed maturities held to maturity | — |  |  | — |  |  | (62 | ) |  | — |  |  | (62 | )
Purchases of equity securities | — |  |  | — |  |  | (158 | ) |  | — |  |  | (158 | )
Sales of fixed maturities available for sale | — |  |  | — |  |  | 10,814 |  |  | — |  |  | 10,814 |
Sales of equity securities | — |  |  | — |  |  | 183 |  |  | — |  |  | 183 |
Maturities and redemptions of fixed maturities available for sale | — |  |  | — |  |  | 6,567 |  |  | — |  |  | 6,567 |
Maturities and redemptions of fixed maturities held to maturity | — |  |  | — |  |  | 669 |  |  | — |  |  | 669 |
Net change in short-term investments | — |  |  | (7,588 | ) |  | (628 | ) |  | — |  |  | (8,216 | )
Net derivative instruments settlements | — |  |  | (9 | ) |  | (12 | ) |  | — |  |  | (21 | )
Acquisition of subsidiaries (net of cash acquired of $629) | — |  |  | — |  |  | 264 |  |  | — |  |  | 264 |
Capital contribution | (2,670 | ) |  | (625 | ) |  | (2,791 | ) |  | 6,086 |  |  | — |
Other | — |  |  | (25 | ) |  | (256 | ) |  | 18 |  |  | (263 | )
Net cash flows used for investing activities | (2,670 | ) |  | (8,247 | ) |  | (1,463 | ) |  | 6,086 |  |  | (6,294 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Dividends paid on Common Shares | (862 | ) |  | — |  |  | — |  |  | — |  |  | (862 | )
Common Shares repurchased | — |  |  | — |  |  | (758 | ) |  | — |  |  | (758 | )
Proceeds from issuance of long-term debt | — |  |  | 6,090 |  |  | — |  |  | — |  |  | 6,090 |
Proceeds from issuance of repurchase agreements | — |  |  | — |  |  | 2,029 |  |  | — |  |  | 2,029 |
Repayment of long-term debt | — |  |  | (1,150 | ) |  | — |  |  | — |  |  | (1,150 | )
Repayment of repurchase agreements | — |  |  | — |  |  | (2,027 | ) |  | — |  |  | (2,027 | )
Proceeds from share-based compensation plans | — |  |  | — |  |  | 131 |  |  | — |  |  | 131 |
Advances (to) from affiliates | (228 | ) |  | 95 |  |  | 133 |  |  | — |  |  | — |
Dividends to parent company | — |  |  | — |  |  | (3,779 | ) |  | 3,779 |  |  | — |
Capital contribution | — |  |  | 2,791 |  |  | 3,295 |  |  | (6,086 | ) |  | — |
Net proceeds from (payments to) affiliated notional cash pooling programs(1) | 636 |  |  | (220 | ) |  | — |  |  | (416 | ) |  | — |
Policyholder contract deposits | — |  |  | — |  |  | 503 |  |  | — |  |  | 503 |
Policyholder contract withdrawals | — |  |  | — |  |  | (221 | ) |  | — |  |  | (221 | )
Other | — |  |  | (40 | ) |  | — |  |  | — |  |  | (40 | )
Net cash flows (used for) from financing activities | (454 | ) |  | 7,566 |  |  | (694 | ) |  | (2,723 | ) |  | 3,695 |
Effect of foreign currency rate changes on cash and cash equivalents | — |  |  | — |  |  | (145 | ) |  | — |  |  | (145 | )
Net increase in cash | 1 |  |  | 1 |  |  | 1,534 |  |  | (416 | ) |  | 1,120 |
Cash – beginning of year(1) | — |  |  | 1 |  |  | 1,209 |  |  | (555 | ) |  | 655 |
Cash – end of year(1) | $ | 1 |  |  | $ | 2 |  |  | $ | 2,743 |  |  | $ | (971 | ) |  | $ | 1,775 |
(1) | Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2015 and 2014, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

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