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Information provided in connection with outstanding debt of subsidiaries (Tables) | 12 Months Ended
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Dec. 31, 2020
Information Provided In Connection With Outstanding Debt Of Subsidiaries [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet at December 31, 2020
(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 | $ | — |  |  | $ | 197 |  |  | $ | 118,472 |  |  | $ | — |  |  | $ | 118,669 |
Cash (1) | 84 |  |  | 1 |  |  | 1,934 |  |  | (272) |  |  | 1,747 |
Restricted Cash | — |  |  | — |  |  | 89 |  |  | — |  |  | 89 |
Insurance and reinsurance balances receivable | — |  |  | — |  |  | 13,926 |  |  | (3,446) |  |  | 10,480 |
Reinsurance recoverable on losses and loss expenses | — |  |  | — |  |  | 25,217 |  |  | (9,625) |  |  | 15,592 |
Reinsurance recoverable on policy benefits | — |  |  | — |  |  | 299 |  |  | (93) |  |  | 206 |
Value of business acquired | — |  |  | — |  |  | 263 |  |  | — |  |  | 263 |
Goodwill and other intangible assets | — |  |  | — |  |  | 21,211 |  |  | — |  |  | 21,211 |
Investments in subsidiaries | 56,148 |  |  | 55,231 |  |  | — |  |  | (111,379) |  |  | — |
Due from subsidiaries and affiliates, net | 3,522 |  |  | — |  |  | 171 |  |  | (3,693) |  |  | — |
Other assets | 10 |  |  | 463 |  |  | 23,921 |  |  | (1,877) |  |  | 22,517 |
Total assets | $ | 59,764 |  |  | $ | 55,892 |  |  | $ | 205,503 |  |  | $ | (130,385) |  |  | $ | 190,774 |
Liabilities |  |  |  |  |  |  |  |  |
Unpaid losses and loss expenses | $ | — |  |  | $ | — |  |  | $ | 77,180 |  |  | $ | (9,369) |  |  | $ | 67,811 |
Unearned premiums | — |  |  | — |  |  | 18,853 |  |  | (1,201) |  |  | 17,652 |
Future policy benefits | — |  |  | — |  |  | 5,806 |  |  | (93) |  |  | 5,713 |
Due to subsidiaries and affiliates, net | — |  |  | 3,008 |  |  | 685 |  |  | (3,693) |  |  | — |
Affiliated notional cash pooling programs(1) | — |  |  | 272 |  |  | — |  |  | (272) |  |  | — |
Repurchase agreements | — |  |  | — |  |  | 1,405 |  |  | — |  |  | 1,405 |
Long-term debt | — |  |  | 14,948 |  |  | — |  |  | — |  |  | 14,948 |
Trust preferred securities | — |  |  | 308 |  |  | — |  |  | — |  |  | 308 |
Other liabilities | 323 |  |  | 1,418 |  |  | 26,133 |  |  | (4,378) |  |  | 23,496 |
Total liabilities | 323 |  |  | 19,954 |  |  | 130,062 |  |  | (19,006) |  |  | 131,333 |
Total shareholders’ equity | 59,441 |  |  | 35,938 |  |  | 75,441 |  |  | (111,379) |  |  | 59,441 |
Total liabilities and shareholders’ equity | $ | 59,764 |  |  | $ | 55,892 |  |  | $ | 205,503 |  |  | $ | (130,385) |  |  | $ | 190,774 |
(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, 2020, the cash balance of one or more entities was negative; however, the overall Pool balances were positive. Condensed Consolidating Balance Sheet at December 31, 2019
(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 | $ | — |  |  | $ | 1,013 |  |  | $ | 108,221 |  |  | $ | — |  |  | $ | 109,234 |
Cash (1) | 2 |  |  | 442 |  |  | 1,093 |  |  | — |  |  | 1,537 |
Restricted Cash | — |  |  | — |  |  | 109 |  |  | — |  |  | 109 |
Insurance and reinsurance balances receivable | — |  |  | — |  |  | 12,920 |  |  | (2,563) |  |  | 10,357 |
Reinsurance recoverable on losses and loss expenses | — |  |  | — |  |  | 24,780 |  |  | (9,599) |  |  | 15,181 |
Reinsurance recoverable on policy benefits | — |  |  | — |  |  | 292 |  |  | (95) |  |  | 197 |
Value of business acquired | — |  |  | — |  |  | 306 |  |  | — |  |  | 306 |
Goodwill and other intangible assets | — |  |  | — |  |  | 21,359 |  |  | — |  |  | 21,359 |
Investments in subsidiaries | 50,853 |  |  | 52,076 |  |  | — |  |  | (102,929) |  |  | — |
Due from subsidiaries and affiliates, net | 4,776 |  |  | — |  |  | — |  |  | (4,776) |  |  | — |
Other assets | 12 |  |  | 408 |  |  | 20,072 |  |  | (1,829) |  |  | 18,663 |
Total assets | $ | 55,643 |  |  | $ | 53,939 |  |  | $ | 189,152 |  |  | $ | (121,791) |  |  | $ | 176,943 |
Liabilities |  |  |  |  |  |  |  |  |
Unpaid losses and loss expenses | $ | — |  |  | $ | — |  |  | $ | 71,916 |  |  | $ | (9,226) |  |  | $ | 62,690 |
Unearned premiums | — |  |  | — |  |  | 17,978 |  |  | (1,207) |  |  | 16,771 |
Future policy benefits | — |  |  | — |  |  | 5,468 |  |  | (95) |  |  | 5,373 |
Due to subsidiaries and affiliates, net | — |  |  | 4,446 |  |  | 330 |  |  | (4,776) |  |  | — |
Repurchase agreements | — |  |  | — |  |  | 1,416 |  |  | — |  |  | 1,416 |
Short-term debt | — |  |  | 1,298 |  |  | 1 |  |  | — |  |  | 1,299 |
Long-term debt | — |  |  | 13,559 |  |  | — |  |  | — |  |  | 13,559 |
Trust preferred securities | — |  |  | 308 |  |  | — |  |  | — |  |  | 308 |
Other liabilities | 312 |  |  | 1,649 |  |  | 21,793 |  |  | (3,558) |  |  | 20,196 |
Total liabilities | 312 |  |  | 21,260 |  |  | 118,902 |  |  | (18,862) |  |  | 121,612 |
Total shareholders’ equity | 55,331 |  |  | 32,679 |  |  | 70,250 |  |  | (102,929) |  |  | 55,331 |
Total liabilities and shareholders’ equity | $ | 55,643 |  |  | $ | 53,939 |  |  | $ | 189,152 |  |  | $ | (121,791) |  |  | $ | 176,943 |
(1)Chubb maintains two notional multicurrency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information.
Condensed Consolidating Statement Of Operations and Comprehensive Income | Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2020 | 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 | $ | — |  |  | $ | — |  |  | $ | 33,820 |  |  | $ | — |  |  | $ | 33,820 |
Net premiums earned | — |  |  | — |  |  | 33,117 |  |  | — |  |  | 33,117 |
Net investment income | (1) |  |  | 6 |  |  | 3,370 |  |  | — |  |  | 3,375 |
Equity in earnings of subsidiaries | 3,457 |  |  | 2,052 |  |  | — |  |  | (5,509) |  |  | — |
Net realized gains (losses) | 20 |  |  | (397) |  |  | (121) |  |  | — |  |  | (498) |
Losses and loss expenses | — |  |  | — |  |  | 21,710 |  |  | — |  |  | 21,710 |
Policy benefits | — |  |  | — |  |  | 784 |  |  | — |  |  | 784 |
Policy acquisition costs and administrative expenses | 94 |  |  | (130) |  |  | 9,562 |  |  | — |  |  | 9,526 |
Interest (income) expense | (136) |  |  | 596 |  |  | 56 |  |  | — |  |  | 516 |
Other (income) expense | (39) |  |  | (24) |  |  | (931) |  |  | — |  |  | (994) |
Amortization of purchased intangibles | — |  |  | — |  |  | 290 |  |  | — |  |  | 290 |
Income tax expense (benefit) | 24 |  |  | (181) |  |  | 786 |  |  | — |  |  | 629 |
Net income | $ | 3,533 |  |  | $ | 1,400 |  |  | $ | 4,109 |  |  | $ | (5,509) |  |  | $ | 3,533 |
Comprehensive income | $ | 5,783 |  |  | $ | 3,236 |  |  | $ | 6,512 |  |  | $ | (9,748) |  |  | $ | 5,783 |
Condensed Consolidating Statements of Operations and Comprehensive Income
For the Year Ended December 31, 2019 | 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 | $ | — |  |  | $ | — |  |  | $ | 32,275 |  |  | $ | — |  |  | $ | 32,275 |
Net premiums earned | — |  |  | — |  |  | 31,290 |  |  | — |  |  | 31,290 |
Net investment income | 1 |  |  | (15) |  |  | 3,440 |  |  | — |  |  | 3,426 |
Equity in earnings of subsidiaries | 4,307 |  |  | 3,022 |  |  | — |  |  | (7,329) |  |  | — |
Net realized gains (losses) including OTTI | (17) |  |  | (31) |  |  | (482) |  |  | — |  |  | (530) |
Losses and loss expenses | — |  |  | — |  |  | 18,730 |  |  | — |  |  | 18,730 |
Policy benefits | — |  |  | — |  |  | 740 |  |  | — |  |  | 740 |
Policy acquisition costs and administrative expenses | 92 |  |  | (26) |  |  | 9,117 |  |  | — |  |  | 9,183 |
Interest (income) expense | (243) |  |  | 705 |  |  | 90 |  |  | — |  |  | 552 |
Other (income) expense | (27) |  |  | 6 |  |  | (575) |  |  | — |  |  | (596) |
Amortization of purchased intangibles | — |  |  | — |  |  | 305 |  |  | — |  |  | 305 |
Chubb integration expenses | 1 |  |  | 2 |  |  | 20 |  |  | — |  |  | 23 |
Income tax expense (benefit) | 14 |  |  | (175) |  |  | 956 |  |  | — |  |  | 795 |
Net income | $ | 4,454 |  |  | $ | 2,464 |  |  | $ | 4,865 |  |  | $ | (7,329) |  |  | $ | 4,454 |
Comprehensive income | $ | 7,521 |  |  | $ | 4,988 |  |  | $ | 7,922 |  |  | $ | (12,910) |  |  | $ | 7,521 |
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
For the Year Ended December 31, 2018 | 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 | $ | — |  |  | $ | — |  |  | $ | 30,579 |  |  | $ | — |  |  | $ | 30,579 |
Net premiums earned | — |  |  | — |  |  | 30,064 |  |  | — |  |  | 30,064 |
Net investment income | 6 |  |  | 13 |  |  | 3,286 |  |  | — |  |  | 3,305 |
Equity in earnings of subsidiaries | 3,753 |  |  | 2,578 |  |  | — |  |  | (6,331) |  |  | — |
Net realized gains (losses) including OTTI | — |  |  | 117 |  |  | (769) |  |  | — |  |  | (652) |
Losses and loss expenses | — |  |  | — |  |  | 18,067 |  |  | — |  |  | 18,067 |
Policy benefits | — |  |  | — |  |  | 590 |  |  | — |  |  | 590 |
Policy acquisition costs and administrative expenses | 87 |  |  | (58) |  |  | 8,769 |  |  | — |  |  | 8,798 |
Interest (income) expense | (299) |  |  | 806 |  |  | 134 |  |  | — |  |  | 641 |
Other (income) expense | (24) |  |  | 26 |  |  | (436) |  |  | — |  |  | (434) |
Amortization of purchased intangibles | — |  |  | — |  |  | 339 |  |  | — |  |  | 339 |
Chubb integration expenses | 14 |  |  | 1 |  |  | 44 |  |  | — |  |  | 59 |
Income tax expense (benefit) | 19 |  |  | (148) |  |  | 824 |  |  | — |  |  | 695 |
Net income | $ | 3,962 |  |  | $ | 2,081 |  |  | $ | 4,250 |  |  | $ | (6,331) |  |  | $ | 3,962 |
Comprehensive income (loss) | $ | 1,242 |  |  | $ | (27) |  |  | $ | 1,808 |  |  | $ | (1,781) |  |  | $ | 1,242 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2020 | 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 | $ | 1,933 |  |  | $ | 274 |  |  | $ | 10,788 |  |  | $ | (3,210) |  |  | $ | 9,785 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchases of fixed maturities available for sale | — |  |  | (49) |  |  | (26,249) |  |  | — |  |  | (26,298) |
Purchases of fixed maturities held to maturity | — |  |  | — |  |  | (202) |  |  | — |  |  | (202) |
Purchases of equity securities | — |  |  | — |  |  | (6,419) |  |  | — |  |  | (6,419) |
Sales of fixed maturities available for sale | — |  |  | 9 |  |  | 11,368 |  |  | — |  |  | 11,377 |
Sales of equity securities | — |  |  | — |  |  | 3,880 |  |  | — |  |  | 3,880 |
Maturities and redemptions of fixed maturities available for sale | — |  |  | 50 |  |  | 12,400 |  |  | — |  |  | 12,450 |
Maturities and redemptions of fixed maturities held to maturity | — |  |  | — |  |  | 995 |  |  | — |  |  | 995 |
Net change in short-term investments | — |  |  | 772 |  |  | (853) |  |  | — |  |  | (81) |
Net derivative instruments settlements | — |  |  | 55 |  |  | (168) |  |  | — |  |  | (113) |
Private equity contributions | — |  |  | — |  |  | (1,924) |  |  | — |  |  | (1,924) |
Private equity distributions | — |  |  | — |  |  | 907 |  |  | — |  |  | 907 |
Payment, including deposit, for Huatai Group interest | — |  |  | — |  |  | (1,623) |  |  | — |  |  | (1,623) |
Capital contribution | (1,200) |  |  | (72) |  |  | — |  |  | 1,272 |  |  | — |
Other | (2) |  |  | 4 |  |  | (472) |  |  | — |  |  | (470) |
Net cash flows from (used for) investing activities | (1,202) |  |  | 769 |  |  | (8,360) |  |  | 1,272 |  |  | (7,521) |
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Dividends paid on Common Shares | (1,388) |  |  | — |  |  | — |  |  | — |  |  | (1,388) |
Common Shares repurchased | (523) |  |  | — |  |  | — |  |  | — |  |  | (523) |
Proceeds from issuance of long-term debt | — |  |  | 988 |  |  | — |  |  | — |  |  | 988 |
Proceeds from issuance of repurchase agreements | — |  |  | — |  |  | 2,354 |  |  | — |  |  | 2,354 |
Repayment of long-term debt | — |  |  | (1,301) |  |  | — |  |  | — |  |  | (1,301) |
Repayment of repurchase agreements | — |  |  | — |  |  | (2,354) |  |  | — |  |  | (2,354) |
Proceeds from share-based compensation plans | — |  |  | — |  |  | 145 |  |  | — |  |  | 145 |
Advances (to) from affiliates | 1,265 |  |  | (1,438) |  |  | 173 |  |  | — |  |  | — |
Dividends to parent company | — |  |  | — |  |  | (3,210) |  |  | 3,210 |  |  | — |
Capital contribution | — |  |  | — |  |  | 1,272 |  |  | (1,272) |  |  | — |
Net proceeds from affiliated notional cash pooling programs(1) | — |  |  | 272 |  |  | — |  |  | (272) |  |  | — |
Policyholder contract deposits and other | — |  |  | — |  |  | 470 |  |  | — |  |  | 470 |
Policyholder contract withdrawals and other | — |  |  | — |  |  | (386) |  |  | — |  |  | (386) |
Other | — |  |  | — |  |  | (87) |  |  | — |  |  | (87) |
Net cash flows used for financing activities | (646) |  |  | (1,479) |  |  | (1,623) |  |  | 1,666 |  |  | (2,082) |
Effect of foreign currency rate changes on cash and restricted cash | (3) |  |  | (5) |  |  | 16 |  |  | — |  |  | 8 |
Net increase (decrease) in cash and restricted cash | 82 |  |  | (441) |  |  | 821 |  |  | (272) |  |  | 190 |
Cash and restricted cash – beginning of year (1) | 2 |  |  | 442 |  |  | 1,202 |  |  | — |  |  | 1,646 |
Cash and restricted cash – end of year (1) | $ | 84 |  |  | $ | 1 |  |  | $ | 2,023 |  |  | $ | (272) |  |  | $ | 1,836 |
(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, 2020, 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, 2019 | 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 | $ | 412 |  |  | $ | 2,926 |  |  | $ | 6,878 |  |  | $ | (3,874) |  |  | $ | 6,342 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchases of fixed maturities available for sale | — |  |  | (21) |  |  | (25,825) |  |  | — |  |  | (25,846) |
Purchases of fixed maturities held to maturity | — |  |  | — |  |  | (229) |  |  | — |  |  | (229) |
Purchases of equity securities | — |  |  | — |  |  | (531) |  |  | — |  |  | (531) |
Sales of fixed maturities available for sale | — |  |  | 1 |  |  | 13,115 |  |  | — |  |  | 13,116 |
Sales of equity securities | — |  |  | — |  |  | 611 |  |  | — |  |  | 611 |
Maturities and redemptions of fixed maturities available for sale | — |  |  | 41 |  |  | 8,998 |  |  | — |  |  | 9,039 |
Maturities and redemptions of fixed maturities held to maturity | — |  |  | — |  |  | 946 |  |  | — |  |  | 946 |
Net change in short-term investments | — |  |  | (808) |  |  | (309) |  |  | — |  |  | (1,117) |
Net derivative instruments settlements | — |  |  | (74) |  |  | (629) |  |  | — |  |  | (703) |
Private equity contributions | — |  |  | — |  |  | (1,315) |  |  | — |  |  | (1,315) |
Private equity distributions | — |  |  | — |  |  | 1,390 |  |  | — |  |  | 1,390 |
Capital contribution | (1,000) |  |  | (110) |  |  | — |  |  | 1,110 |  |  | — |
Acquisition of subsidiaries (net of cash acquired of $45) | — |  |  | — |  |  | (29) |  |  | — |  |  | (29) |
Payment, including deposit, for Huatai Group interest | — |  |  | — |  |  | (580) |  |  | — |  |  | (580) |
Other | — |  |  | (4) |  |  | (653) |  |  | — |  |  | (657) |
Net cash flows used for investing activities | (1,000) |  |  | (975) |  |  | (5,040) |  |  | 1,110 |  |  | (5,905) |
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Dividends paid on Common Shares | (1,354) |  |  | — |  |  | — |  |  | — |  |  | (1,354) |
Common Shares repurchased | (327) |  |  | — |  |  | (1,203) |  |  | — |  |  | (1,530) |
Proceeds from issuance of long-term debt | — |  |  | 2,828 |  |  | — |  |  | — |  |  | 2,828 |
Proceeds from issuance of repurchase agreements | — |  |  | — |  |  | 2,817 |  |  | — |  |  | 2,817 |
Repayment of long-term debt | — |  |  | (500) |  |  | (10) |  |  | — |  |  | (510) |
Repayment of repurchase agreements | — |  |  | — |  |  | (2,817) |  |  | — |  |  | (2,817) |
Proceeds from share-based compensation plans | — |  |  | — |  |  | 204 |  |  | — |  |  | 204 |
Advances (to) from affiliates | 2,301 |  |  | (3,223) |  |  | 922 |  |  | — |  |  | — |
Dividends to parent company | — |  |  | — |  |  | (3,874) |  |  | 3,874 |  |  | — |
Capital contribution | — |  |  | — |  |  | 1,110 |  |  | (1,110) |  |  | — |
Net proceeds payments to affiliated notional cash pooling programs(1) | (35) |  |  | (617) |  |  | — |  |  | 652 |  |  | — |
Policyholder contract deposits | — |  |  | — |  |  | 514 |  |  | — |  |  | 514 |
Policyholder contract withdrawals | — |  |  | — |  |  | (303) |  |  | — |  |  | (303) |
Net cash flows from (used for) financing activities | 585 |  |  | (1,512) |  |  | (2,640) |  |  | 3,416 |  |  | (151) |
Effect of foreign currency rate changes on cash and restricted cash | 4 |  |  | 1 |  |  | 15 |  |  | — |  |  | 20 |
Net increase (decrease) in cash and restricted cash | 1 |  |  | 440 |  |  | (787) |  |  | 652 |  |  | 306 |
Cash and restricted cash – beginning of year (1) | 1 |  |  | 2 |  |  | 1,989 |  |  | (652) |  |  | 1,340 |
Cash and restricted cash – end of year (1) | $ | 2 |  |  | $ | 442 |  |  | $ | 1,202 |  |  | $ | — |  |  | $ | 1,646 |
(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, 2018, 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, 2018 | 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 | $ | 256 |  |  | $ | 4,654 |  |  | $ | 5,878 |  |  | $ | (5,308) |  |  | $ | 5,480 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchases of fixed maturities available for sale | — |  |  | (38) |  |  | (24,697) |  |  | — |  |  | (24,735) |
Purchases of fixed maturities held to maturity | — |  |  | — |  |  | (456) |  |  | — |  |  | (456) |
Purchases of equity securities | — |  |  | — |  |  | (207) |  |  | — |  |  | (207) |
Sales of fixed maturities available for sale | — |  |  | 11 |  |  | 14,019 |  |  | — |  |  | 14,030 |
Sales of equity securities | — |  |  | — |  |  | 315 |  |  | — |  |  | 315 |
Maturities and redemptions of fixed maturities available for sale | — |  |  | 17 |  |  | 7,335 |  |  | — |  |  | 7,352 |
Maturities and redemptions of fixed maturities held to maturity | — |  |  | — |  |  | 1,124 |  |  | — |  |  | 1,124 |
Net change in short-term investments | — |  |  | 3 |  |  | 513 |  |  | — |  |  | 516 |
Net derivative instruments settlements | — |  |  | (7) |  |  | 23 |  |  | — |  |  | 16 |
Private equity contributions | — |  |  | — |  |  | (1,337) |  |  | — |  |  | (1,337) |
Private equity distributions | — |  |  | — |  |  | 980 |  |  | — |  |  | 980 |
Capital contribution | (1,475) |  |  | (3,550) |  |  | — |  |  | 5,025 |  |  | — |
Other | — |  |  | (18) |  |  | (515) |  |  | — |  |  | (533) |
Net cash flows used for investing activities | (1,475) |  |  | (3,582) |  |  | (2,903) |  |  | 5,025 |  |  | (2,935) |
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Dividends paid on Common Shares | (1,337) |  |  | — |  |  | — |  |  | — |  |  | (1,337) |
Common Shares repurchased | — |  |  | — |  |  | (1,044) |  |  | — |  |  | (1,044) |
Proceeds from issuance of long-term debt | — |  |  | 2,171 |  |  | — |  |  | — |  |  | 2,171 |
Proceeds from issuance of repurchase agreements | — |  |  | — |  |  | 2,029 |  |  | — |  |  | 2,029 |
Repayment of long-term debt | — |  |  | (2,000) |  |  | (1) |  |  | — |  |  | (2,001) |
Repayment of repurchase agreements | — |  |  | — |  |  | (2,019) |  |  | — |  |  | (2,019) |
Proceeds from share-based compensation plans | — |  |  | — |  |  | 115 |  |  | — |  |  | 115 |
Advances (to) from affiliates | 2,519 |  |  | (1,744) |  |  | (775) |  |  | — |  |  | — |
Dividends to parent company | — |  |  | — |  |  | (5,308) |  |  | 5,308 |  |  | — |
Capital contribution | — |  |  | — |  |  | 5,025 |  |  | (5,025) |  |  | — |
Net payments to affiliated notional cash pooling programs(1) | 35 |  |  | 502 |  |  | — |  |  | (537) |  |  | — |
Policyholder contract deposits | — |  |  | — |  |  | 453 |  |  | — |  |  | 453 |
Policyholder contract withdrawals | — |  |  | — |  |  | (358) |  |  | — |  |  | (358) |
Net cash flows from (used for) financing activities | 1,217 |  |  | (1,071) |  |  | (1,883) |  |  | (254) |  |  | (1,991) |
Effect of foreign currency rate changes on cash and restricted cash | — |  |  | — |  |  | (65) |  |  | — |  |  | (65) |
Net increase (decrease) in cash and restricted cash | (2) |  |  | 1 |  |  | 1,027 |  |  | (537) |  |  | 489 |
Cash and restricted cash – beginning of year (1) | 3 |  |  | 1 |  |  | 962 |  |  | (115) |  |  | 851 |
Cash and restricted cash – end of year (1) | $ | 1 |  |  | $ | 2 |  |  | $ | 1,989 |  |  | $ | (652) |  |  | $ | 1,340 |
(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, 2018 and 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.

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