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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities      
Net income $ 3,758 $ 2,706 $ 1,540
Adjustments to reconcile net income to net cash flows from operating activities      
Net realized (gains) losses (504) (78) 795
Amortization of premiums/discounts on fixed maturities 268 220 152
Deferred income taxes 240 (7) 15
Unpaid losses and loss expenses (365) 203 43
Unearned premiums 402 522 9
Future policy benefits 191 158 78
Insurance and reinsurance balances payable 176 (151) 216
Accounts payable, accrued expenses, and other liabilities 37 (42) 39
Income taxes payable (45) (167) 39
Insurance and reinsurance balances receivable (624) 335 (217)
Reinsurance recoverable on losses and loss expenses 787 372 531
Reinsurance recoverable on policy benefits 23 52 25
Deferred policy acquisition costs (503) (340) (122)
Prepaid reinsurance premiums (31) (123) (34)
Other 212 335 361
Net cash flows from operating activities 4,022 3,995 3,470
Cash flows from investing activities      
Purchases of fixed maturities available for sale (21,340) (23,572) (23,523)
Purchases of to be announced mortgage-backed securities (58) (389) (755)
Purchases of fixed maturities held to maturity (447) (388) (340)
Purchases of equity securities (264) (135) (309)
Sales of fixed maturities available for sale 10,355 14,321 17,176
Sales of to be announced mortgage-backed securities 58 448 795
Sales of equity securities 142 119 376
Maturities and redemptions of fixed maturities available for sale 6,941 5,523 3,720
Maturities and redemptions of fixed maturities held to maturity 1,488 1,451 1,279
Net change in short-term investments 524 117 (300)
Net derivative instruments settlements (471) (281) (67)
Acquisition of subsidiaries (net of cash acquired of $38, $8, and $91) (977) (98) (606)
Other (393) (555) (482)
Net cash flows used for investing activities (4,442) (3,439) (3,036)
Cash flows from financing activities      
Dividends paid on Common Shares (517) (815) (459)
Common Shares repurchased (287) (11) (195)
Proceeds from issuance of long-term debt 947      
Proceeds from issuance of short-term debt 2,572 2,933 5,238
Repayment of short-term debt (2,572) (2,783) (5,288)
Proceeds from share-based compensation plans, including windfall tax benefits 135 126 139
Other 113    
Net cash flows from (used for) financing activities 391 (550) (565)
Effect of foreign currency rate changes on cash and cash equivalents (7) (5) (27)
Net increase (decrease) in cash (36) 1 (158)
Cash – beginning of year 615 614 [1] 772
Cash – end of year 579 615 614 [1]
Supplemental cash flow information      
Taxes paid 218 438 460
Interest paid $ 253 $ 240 $ 234
[1] ACE maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2012, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.