CHUBB CORP

CIK:0000020171|SEC Filings

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Premiums Earned	$ 3,166	$ 3,119	$ 9,404	$ 9,212
Investment Income	328	344	1,001	1,053
Other Revenues	2	1	6	6
Realized Investment Gains (Losses), Net
Total Other-Than-Temporary Impairment Losses on Investments	(26)		(49)	(5)
Other Realized Investment Gains, Net	108	110	162	356
Total Realized Investment Gains, Net	82	110	113	351
Total Revenues	3,578	3,574	10,524	10,622
Losses and Expenses
Losses and Loss Expenses	1,633	1,679	5,260	5,316
Amortization of Deferred Policy Acquisition Costs	663	644	1,941	1,896
Other Insurance Operating Costs and Expenses	349	357	1,049	1,079
Investment Expenses	13	12	36	32
Other Expenses	4	4	10	14
Corporate Expenses	69	60	221	186
Total Losses and Expenses	2,731	2,756	8,517	8,523
Income Before Federal and Foreign Income Tax	847	818	2,007	2,099
Federal and Foreign Income Tax	246	224	537	557
Net Income	$ 601	$ 594	$ 1,470	$ 1,542
Net Income Per Share
Basic	$ 2.62	$ 2.47	$ 6.36	$ 6.30
Diluted	2.60	2.47	6.33	6.28
Dividends Declared Per Share	$ 0.57	$ 0.50	$ 1.71	$ 1.50

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities
Net Income	$ 1,470	$ 1,542
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Increase in Unpaid Losses and Loss Expenses, Net	176	151
Increase in Unearned Premiums, Net	182	242
Change in Income Tax Payable or Recoverable	(45)	163
Deferred Income Tax	107	66
Amortization of Premiums and Discounts on Fixed Maturities	173	143
Depreciation	39	41
Realized Investment Gains, Net	(113)	(351)
Other, Net	(32)	(78)
Net Cash Provided by Operating Activities	1,957	1,919
Cash Flows from Investing Activities
Proceeds from Fixed Maturities - Sales	3,197	3,243
Proceeds from Fixed Maturities - Maturities, Calls and Redemptions	3,207	3,162
Proceeds from Sales of Equity Securities	94	199
Purchases of Fixed Maturities	(5,683)	(7,517)
Purchases of Equity Securities	(48)	(109)
Investments in Other Invested Assets, Net	74	189
Decrease (Increase) in Short Term Investments, Net	(1,757)	56
Change in Receivable or Payable from Security Transactions Not Settled, Net	14	457
Purchases of Property and Equipment, Net	(54)	(44)
Net Cash Used in Investing Activities	(956)	(364)
Cash Flows from Financing Activities
Decrease in Funds Held Under Deposit Contracts	(3)	(2)
Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans	13	18
Repurchase of Shares	(624)	(1,210)
Dividends Paid to Shareholders	(381)	(356)
Net Cash Used in Financing Activities	(995)	(1,550)
Net Increase in Cash	6	5
Cash at Beginning of Year	47	52
Cash at End of Period	$ 53	$ 57

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Short Term Investments	$ 3,052	$ 1,318
Fixed Maturities (cost $35,469 and $36,958)	37,016	38,780
Equity Securities (cost $1,060 and $1,089)	1,771	1,964
Other Invested Assets	1,422	1,423
TOTAL INVESTED ASSETS	43,261	43,485
Cash	53	47
Accrued Investment Income	403	410
Premiums Receivable	2,480	2,560
Reinsurance Recoverable on Unpaid Losses and Loss Expenses	1,505	1,639
Prepaid Reinsurance Premiums	257	256
Deferred Policy Acquisition Costs	1,302	1,284
Deferred Income Tax	120
Goodwill	467	467
Other Assets	1,344	1,138
TOTAL ASSETS	51,192	51,286
Liabilities
Unpaid Losses and Loss Expenses	22,359	22,678
Unearned Premiums	6,636	6,581
Long Term Debt	3,300	3,300
Dividend Payable to Shareholders	130	117
Deferred Income Tax		15
Accrued Expenses and Other Liabilities	2,396	2,299
TOTAL LIABILITIES	34,821	34,990
Shareholders' Equity
Common Stock - $1 Par Value; 371,980,460 Shares	372	372
Paid-In Surplus	179	171
Retained Earnings	24,596	23,520
Accumulated Other Comprehensive Income	661	1,110
Treasury Stock, at Cost - 144,924,588 and 139,551,071 Shares	(9,437)	(8,877)
TOTAL SHAREHOLDERS' EQUITY	16,371	16,296
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 51,192	$ 51,286