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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Assets    
Fixed maturities available for sale, at fair value, net of valuation allowance - $11 and $20 (amortized cost – $88,265 and $85,188) $ 92,163 $ 90,699
Fixed maturities held to maturity, net carrying value 10,673 11,653
Equity securities, at fair value 4,607 4,027
Short-term investments 4,470 4,345
Other investments, at fair value 9,457 7,945
Total investments 121,370 118,669
Cash 1,843 1,747
Restricted cash 155 89
Securities lending collateral 2,369 1,844
Accrued investment income 837 867
Insurance and reinsurance balances receivable, net of valuation allowance - $42 and $44 11,720 10,480
Reinsurance recoverable on losses and loss expenses, net of valuation allowance - $322 and $314 15,725 15,592
Reinsurance recoverable on policy benefits 203 206
Deferred policy acquisition costs 5,605 5,402
Value of business acquired 255 263
Goodwill 15,506 15,400
Other intangible assets 5,694 5,811
Prepaid reinsurance premiums 3,141 2,769
Investments in partially-owned insurance companies 2,983 2,813
Other assets 9,768 8,822
Total assets 197,174 190,774
Liabilities    
Unpaid losses and loss expenses 70,289 67,811
Unearned premiums 19,167 17,652
Future policy benefits 5,930 5,713
Insurance and reinsurance balances payable 7,525 6,708
Securities lending payable 2,369 1,844
Accounts payable, accrued expenses, and other liabilities 14,584 14,052
Deferred tax liabilities 581 892
Repurchase agreements 1,405 1,405
Long-term debt 14,954 14,948
Trust preferred securities 308 308
Total liabilities 137,112 131,333
Commitments and contingencies (refer to Note 7)
Shareholders’ equity    
Common Shares (CHF 24.15 par value; 477,605,264 shares issued; 438,717,213 and 450,732,625 shares outstanding) 11,064 11,064
Common Shares in treasury (38,888,051 and 26,872,639 shares) (5,772) (3,644)
Additional Paid in Capital, Common Stock 9,046 9,815
Retained earnings 43,902 39,337
Accumulated other comprehensive income (AOCI) 1,822 2,869
Total shareholders’ equity 60,062 59,441
Total liabilities and shareholders’ equity $ 197,174 $ 190,774