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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net income $ 953 $ 973
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses (206) (260)
Amortization of premiums/discounts on fixed maturities 66 45
Deferred income taxes 35 (1)
Unpaid losses and loss expenses (505) (492)
Unearned premiums 267 265
Future policy benefits 44 27
Insurance and reinsurance balances payable (41) (126)
Accounts payable, accrued expenses, and other liabilities 144 (65)
Income taxes payable 29 41
Insurance and reinsurance balances receivable (45) (58)
Reinsurance recoverable on losses and loss expenses 435 422
Reinsurance recoverable on policy benefits 10 11
Deferred policy acquisition costs (121) (72)
Prepaid reinsurance premiums (58) (83)
Other (94) (55)
Net cash flows from operating activities 913 572
Cash flows from investing activities    
Purchases of fixed maturities available for sale (6,133) (5,429)
Purchases of to be announced mortgage-backed securities (19) (54)
Purchases of fixed maturities held to maturity (142) (32)
Purchases of equity securities (107) (19)
Sales of fixed maturities available for sale 2,745 3,736
Sales of to be announced mortgage-backed securities 19 59
Sales of equity securities 31 26
Maturities and redemptions of fixed maturities available for sale 2,016 1,076
Maturities and redemptions of fixed maturities held to maturity 491 345
Net derivative instruments settlements (279) (195)
Acquisition of subsidiaries (33) (25)
Other (55) (103)
Net cash flows used for investing activities (1,466) (615)
Cash flows from financing activities    
Dividends paid on Common Shares (2) (159)
Common Shares repurchased (154) (11)
Proceeds from issuance of long-term debt 947 0
Proceeds from issuance of short-term debt 659 681
Repayment of short-term debt (658) (400)
Proceeds from share-based compensation plans, including windfall tax benefits 21 28
Net cash flows from financing activities 813 139
Effect of foreign currency rate changes on cash and cash equivalents (20) 5
Net increase (decrease) in cash 240 101
Cash - beginning of period 615 [1] 614
Cash - end of period 855 715
Supplemental cash flow information    
Taxes paid 43 72
Interest paid $ 31 $ 37
[1] ACE maintains two notional multicurrency cash pools (Pools) with a third-party bank. Various ACE entities participate in one or the other of the Pools, pursuant to which credit and debit balances in individual ACE accounts are translated daily into a single currency and pooled on a notional basis. Individual ACE entities are permitted to overdraw on their individual accounts provided the overall Pool balances do not fall below zero. At December 31, 2012, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.