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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net income $ 681us-gaap_NetIncomeLoss $ 734us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses 89ace_NetRealizedGainsLosses 104ace_NetRealizedGainsLosses
Amortization of premiums/discounts on fixed maturities 36us-gaap_AmortizationOfFinancingCostsAndDiscounts 53us-gaap_AmortizationOfFinancingCostsAndDiscounts
Deferred income taxes 7us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 0us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Unpaid losses and loss expenses (320)us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve (598)us-gaap_IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
Unearned premiums 212us-gaap_IncreaseDecreaseInUnearnedPremiums 270us-gaap_IncreaseDecreaseInUnearnedPremiums
Future policy benefits 48us-gaap_IncreaseDecreaseInFuturePolicyBenefitReserves 56us-gaap_IncreaseDecreaseInFuturePolicyBenefitReserves
Insurance and reinsurance balances payable 158us-gaap_IncreaseDecreaseInReinsurancePayables 112us-gaap_IncreaseDecreaseInReinsurancePayables
Accounts payable, accrued expenses, and other liabilities (46)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (64)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Income taxes payable 20us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 15us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Insurance and reinsurance balances receivable 240us-gaap_IncreaseDecreaseInPremiumsReceivable 264us-gaap_IncreaseDecreaseInPremiumsReceivable
Reinsurance recoverable on losses and loss expenses 185ace_IncreaseDecreaseInReinsuranceRecoverableLossesAndLossExpenses 478ace_IncreaseDecreaseInReinsuranceRecoverableLossesAndLossExpenses
Reinsurance recoverable on policy benefits 2ace_IncreaseDecreaseInReinsuranceRecoverableFuturePolicyBenefits (2)ace_IncreaseDecreaseInReinsuranceRecoverableFuturePolicyBenefits
Deferred policy acquisition costs (128)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts (99)us-gaap_IncreaseDecreaseInDeferredPolicyAcquisitionCosts
Prepaid reinsurance premiums (32)us-gaap_IncreaseDecreaseInPrepaidReinsurancePremiums (52)us-gaap_IncreaseDecreaseInPrepaidReinsurancePremiums
Other (77)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (21)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash flows from operating activities 1,075us-gaap_NetCashProvidedByUsedInOperatingActivities 1,250us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities    
Purchases of fixed maturities available for sale (4,305)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt (3,522)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt
Purchases of to be announced mortgage-backed securities (31)ace_PaymentsToAcquireToBeAnnouncedMortgageBackedSecurities 0ace_PaymentsToAcquireToBeAnnouncedMortgageBackedSecurities
Purchases of fixed maturities held to maturity (21)us-gaap_PaymentsToAcquireHeldToMaturitySecurities (30)us-gaap_PaymentsToAcquireHeldToMaturitySecurities
Purchases of equity securities (39)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity (37)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesEquity
Sales of fixed maturities available for sale 2,002us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt 2,208us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
Sales of equity securities 28us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity 27us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
Maturities and redemptions of fixed maturities available for sale 1,481us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 1,550us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Maturities and redemptions of fixed maturities held to maturity 324us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities 212us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
Net change in short-term investments (255)us-gaap_PaymentsForProceedsFromShortTermInvestments (765)us-gaap_PaymentsForProceedsFromShortTermInvestments
Net derivative instruments settlements (51)us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities (96)us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
Other (153)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (50)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash flows used for investing activities (1,020)us-gaap_NetCashProvidedByUsedInInvestingActivities (503)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities    
Dividends paid on Common Shares (214)us-gaap_PaymentsOfDividendsCommonStock (214)us-gaap_PaymentsOfDividendsCommonStock
Common Shares repurchased (347)us-gaap_PaymentsForRepurchaseOfCommonStock (335)us-gaap_PaymentsForRepurchaseOfCommonStock
Policyholder contract deposits 101us-gaap_AdditionsToContractHoldersFunds 51us-gaap_AdditionsToContractHoldersFunds
Policyholder contract withdrawals (40)us-gaap_WithdrawalFromContractHoldersFunds (14)us-gaap_WithdrawalFromContractHoldersFunds
Proceeds from issuance of long-term debt 800us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Proceeds from issuance of short-term debt 477us-gaap_ProceedsFromShortTermDebt 426us-gaap_ProceedsFromShortTermDebt
Repayment of short-term debt (477)us-gaap_RepaymentsOfShortTermDebt (426)us-gaap_RepaymentsOfShortTermDebt
Proceeds from share-based compensation plans, including windfall tax benefits 39us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 40us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Other (6)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash flows from (used for) financing activities 333us-gaap_NetCashProvidedByUsedInFinancingActivities (472)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of foreign currency rate changes on cash and cash equivalents (95)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (7)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase in cash 293us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 268us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash – beginning of period 655us-gaap_CashAndCashEquivalentsAtCarryingValue [1],[2] 579us-gaap_CashAndCashEquivalentsAtCarryingValue [3]
Cash – end of period 948us-gaap_CashAndCashEquivalentsAtCarryingValue [1],[4] 847us-gaap_CashAndCashEquivalentsAtCarryingValue [3]
Supplemental cash flow information    
Taxes paid 96us-gaap_IncomeTaxesPaidNet 60us-gaap_IncomeTaxesPaidNet
Interest paid $ 48us-gaap_InterestPaidNet $ 51us-gaap_InterestPaidNet
[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 December 31, 2014, 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 March 31, 2014 and December 31, 2013, the cash balance of one or more entities was negative; however, the overall Pool balances were positive.
[4] 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.