Chubb 10-Q 2023-06-30

Filed 2023-07-28. 1 sections, 520K characters. Original on sec.gov · Markdown · JSON

Full document

Table of Contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2023

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from to

Commission File No. 1-11778

CHUBB LIMITED

(Exact name of registrant as specified in its charter)

Switzerland98-0091805
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

Baerengasse 32Zurich, Switzerland CH-8001 (Address of principal executive offices) (Zip Code)

+41 (0)43 456 76 00

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Shares, par value CHF 0.50 per shareCBNew York Stock Exchange
Guarantee of Chubb INA Holdings Inc. 0.30% Senior Notes due 2024CB/24ANew York Stock Exchange
Guarantee of Chubb INA Holdings Inc. 0.875% Senior Notes due 2027CB/27New York Stock Exchange
Guarantee of Chubb INA Holdings Inc. 1.55% Senior Notes due 2028CB/28New York Stock Exchange
Guarantee of Chubb INA Holdings Inc. 0.875% Senior Notes due 2029CB/29ANew York Stock Exchange
Guarantee of Chubb INA Holdings Inc. 1.40% Senior Notes due 2031CB/31New York Stock Exchange
Guarantee of Chubb INA Holdings Inc. 2.50% Senior Notes due 2038CB/38ANew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☑Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☑

The number of registrant’s Common Shares (CHF 0.50 par value) outstanding as of July 21, 2023 was 410,734,972.

Table of Contents

CHUBB LIMITED

INDEX TO FORM 10-Q

Part I.FINANCIAL INFORMATIONPage
Item 1.Financial Statements:
Consolidated Balance Sheets (Unaudited) June 30, 2023 and December 31, 20223
Consolidated Statements of Operations and Comprehensive Income (Unaudited) Three and Six Months Ended June 30, 2023 and 20224
Consolidated Statements of Shareholders' Equity (Unaudited) Three and Six Months Ended June 30, 2023 and 20225
Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, 2023 and 20226
Notes to Consolidated Financial Statements (Unaudited)
Note 1.General and significant accounting policies7
Note 2.Acquisitions11
Note 3.Investments14
Note 4.Fair value measurements19
Note 5.Reinsurance26
Note 6.Deferred acquisition costs26
Note 7.Goodwill and Value of business acquired27
Note 8.Unpaid losses and loss expenses28
Note 9.Future policy benefits30
Note 10.Policyholders' account balances34
Note 11.Market risk benefits37
Note 12.Separate accounts38
Note 13.Commitments, contingencies, and guarantees39

Showing the first 8K of 520K characters. Open the full section