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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Investments [Abstract]    
Fixed maturities available for sale, at fair value (amortized cost - $48,384 and $47,826) (includes hybrid financial instruments of $284 and $274) $ 50,410us-gaap_AvailableForSaleSecuritiesDebtSecurities $ 49,395us-gaap_AvailableForSaleSecuritiesDebtSecurities
Fixed maturities held to maturity, at amortized cost (fair value – $7,307 and $7,589) 6,982us-gaap_HeldToMaturitySecurities 7,331us-gaap_HeldToMaturitySecurities
Equity securities, at fair value (cost – $447 and $440) 536us-gaap_AvailableForSaleSecuritiesEquitySecurities 510us-gaap_AvailableForSaleSecuritiesEquitySecurities
Short-term investments, at fair value and amortized cost 2,536us-gaap_OtherShortTermInvestments 2,322us-gaap_OtherShortTermInvestments
Other investments (cost – $3,096 and $2,999) 3,430us-gaap_OtherLongTermInvestments 3,346us-gaap_OtherLongTermInvestments
Total investments 63,894us-gaap_Investments 62,904us-gaap_Investments
Cash 948us-gaap_CashAndCashEquivalentsAtCarryingValue [1],[2] 655us-gaap_CashAndCashEquivalentsAtCarryingValue [1],[3]
Securities lending collateral 1,033us-gaap_SecuritiesHeldAsCollateralAtFairValue 1,330us-gaap_SecuritiesHeldAsCollateralAtFairValue
Accrued investment income 530us-gaap_AccruedInvestmentIncomeReceivable 552us-gaap_AccruedInvestmentIncomeReceivable
Insurance and reinsurance balances receivable 5,026us-gaap_PremiumsReceivableAtCarryingValue 5,426us-gaap_PremiumsReceivableAtCarryingValue
Reinsurance recoverable on losses and loss expenses 11,588ace_ReinsuranceRecoverableLossesAndLossExpenses 11,992ace_ReinsuranceRecoverableLossesAndLossExpenses
Reinsurance recoverable on policy benefits 215ace_ReinsuranceRecoverableFuturePolicyBenefits 217ace_ReinsuranceRecoverableFuturePolicyBenefits
Deferred policy acquisition costs 2,683us-gaap_DeferredPolicyAcquisitionCosts 2,601us-gaap_DeferredPolicyAcquisitionCosts
Value of business acquired 440us-gaap_ValueOfBusinessAcquiredVOBA 466us-gaap_ValueOfBusinessAcquiredVOBA
Goodwill and other intangible assets 5,516us-gaap_IntangibleAssetsNetIncludingGoodwill 5,724us-gaap_IntangibleAssetsNetIncludingGoodwill
Prepaid reinsurance premiums 1,981us-gaap_PrepaidReinsurancePremiums 2,026us-gaap_PrepaidReinsurancePremiums
Deferred tax assets 224us-gaap_DeferredTaxAssetsNet 295us-gaap_DeferredTaxAssetsNet
Investments in partially-owned insurance companies 590us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures 504us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
Other assets 3,730us-gaap_OtherAssets 3,556us-gaap_OtherAssets
Total assets 98,398us-gaap_Assets 98,248us-gaap_Assets
Liabilities    
Unpaid losses and loss expenses 37,326us-gaap_LiabilityForClaimsAndClaimsAdjustmentExpense 38,315us-gaap_LiabilityForClaimsAndClaimsAdjustmentExpense
Unearned premiums 8,182us-gaap_UnearnedPremiums 8,222us-gaap_UnearnedPremiums
Future policy benefits 4,744us-gaap_LiabilityForFuturePolicyBenefits 4,754us-gaap_LiabilityForFuturePolicyBenefits
Insurance and reinsurance balances payable 4,198us-gaap_ReinsurancePayable 4,095us-gaap_ReinsurancePayable
Securities lending payable 1,034us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral 1,331us-gaap_ObligationToReturnSecuritiesReceivedAsCollateral
Accounts payable, accrued expenses, and other liabilities 6,194us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 5,726us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Short-term debt 2,552us-gaap_ShortTermBorrowings 2,552us-gaap_ShortTermBorrowings
Long-term debt 4,157us-gaap_LongTermDebt 3,357us-gaap_LongTermDebt
Trust preferred securities 309us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust 309us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust
Total liabilities 68,696us-gaap_Liabilities 68,661us-gaap_Liabilities
Commitments and contingencies      
Shareholders’ equity    
Common Shares (CHF 24.15 and CHF 24.77 par value; 342,832,412 shares issued; 327,084,762 and 328,659,686 shares outstanding) 7,833us-gaap_CommonStockValue 8,055us-gaap_CommonStockValue
Common Shares in treasury (15,747,650 and 14,172,726 shares) (1,645)us-gaap_TreasuryStockValue (1,448)us-gaap_TreasuryStockValue
Additional paid-in capital 5,037us-gaap_AdditionalPaidInCapital 5,145us-gaap_AdditionalPaidInCapital
Retained earnings 17,325us-gaap_RetainedEarningsAccumulatedDeficit 16,644us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income (AOCI) 1,152us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 1,191us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total shareholders’ equity 29,702us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 29,587us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilities and shareholders’ equity $ 98,398us-gaap_LiabilitiesAndStockholdersEquity $ 98,248us-gaap_LiabilitiesAndStockholdersEquity
[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 March 31, 2015 and December 31, 2014, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[2] 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 March 31, 2015, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[3] 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, 2014, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.