Segment information (Tables)

9 Months Ended

Sep. 30, 2012

Operations By Segment

Statement of Operations by Segment

For the Three Months Ended September 30, 2012

(in millions of U.S. dollars)

	Insurance – North American			Insurance – Overseas General			Global Reinsurance			Life			Corporate and Other			ACE Consolidated
Net premiums written	$	2,537		$	1,384		$	307		$	488		$	—		$	4,716
Net premiums earned	2,472			1,432			281			480			—			4,665
Losses and loss expenses	2,110			622			151			164			—			3,047
Policy benefits	—			—			—			130			—			130
Policy acquisition costs	160			329			40			80			—			609
Administrative expenses	148			234			13			81			43			519
Underwriting income (loss)	54			247			77			25			(43		)	360
Net investment income	263			127			72			63			8			533
Net realized gains (losses) including OTTI	(1		)	13			(2		)	(71		)	1			(60		)
Interest expense	3			2			1			3			54			63
Other (income) expense:
(Gains) losses from fair value changes in separate account assets	—			—			—			(14		)	—			(14		)
Other	(5		)	(3		)	(5		)	—			10			(3		)
Income tax expense (benefit)	81			77			11			14			(36		)	147
Net income (loss)	$	237		$	311		$	140		$	14		$	(62	)	$	640

Statement of Operations by Segment

For the Three Months Ended September 30, 2011

(in millions of U.S. dollars)

	Insurance – North American			Insurance – Overseas General		Global Reinsurance			Life			Corporate and Other			ACE Consolidated
Net premiums written	$	2,207		$	1,398	$	250		$	488		$	—		$	4,343
Net premiums earned	2,299			1,471		240			480			—			4,490
Losses and loss expenses	1,838			671		94			142			—			2,745
Policy benefits	—			—		—			83			—			83
Policy acquisition costs	174			353		50			92			—			669
Administrative expenses	153			236		12			81			38			520
Underwriting income (loss)	134			211		84			82			(38		)	473
Net investment income	291			138		70			60			5			564
Net realized gains (losses) including OTTI	(2		)	1		(29		)	(732		)	2			(760		)
Interest expense	4			2		—			3			53			62
Other (income) expense
(Gains) losses from fair value changes in separate account assets	—			—		—			39			—			39
Other	21			10		7			10			2			50
Income tax expense (benefit)	120			56		7			13			(31		)	165
Net income (loss)	$	278		$	282	$	111		$	(655	)	$	(55	)	$	(39	)

Statement of Operations by Segment

For the Nine Months Ended September 30, 2012

(in millions of U.S. dollars)

	Insurance – North American		Insurance – Overseas General		Global Reinsurance			Life			Corporate and Other			ACE Consolidated
Net premiums written	$	5,690	$	4,387	$	879		$	1,462		$	—		$	12,418
Net premiums earned	5,411		4,243		748			1,427			—			11,829
Losses and loss expenses	4,122		2,030		355			463			—			6,970
Policy benefits	—		—		—			379			—			379
Policy acquisition costs	444		996		125			244			1			1,810
Administrative expenses	448		696		38			237			124			1,543
Underwriting income (loss)	397		521		230			104			(125		)	1,127
Net investment income	808		386		213			186			21			1,614
Net realized gains (losses) including OTTI	16		59		(6		)	(261		)	(2		)	(194		)
Interest expense	9		4		3			9			162			187
Other (income) expense:
(Gains) losses from fair value changes in separate account assets	—		—		—			(18		)	—			(18		)
Other	4		3		(7		)	14			18			32
Income tax expense (benefit)	279		166		17			44			(101		)	405
Net income (loss)	$	929	$	793	$	424		$	(20	)	$	(185	)	$	1,941

Statement of Operations by Segment

For the Nine Months Ended September 30, 2011

(in millions of U.S. dollars)

	Insurance – North American		Insurance – Overseas General			Global Reinsurance			Life			Corporate and Other			ACE Consolidated
Net premiums written	$	5,227	$	4,251		$	847		$	1,417		$	—		$	11,742
Net premiums earned	5,249		4,164			754			1,389			—			11,556
Losses and loss expenses	4,065		2,244			485			439			1			7,234
Policy benefits	—		—			—			282			—			282
Policy acquisition costs	455		989			143			253			—			1,840
Administrative expenses	448		698			38			233			120			1,537
Underwriting income (loss)	281		233			88			182			(121		)	663
Net investment income	886		406			213			166			6			1,677
Net realized gains (losses) including OTTI	8		(18		)	(56		)	(813		)	1			(878		)
Interest expense	11		4			1			9			162			187
Other (income) expense
(Gains) losses from fair value changes in separate account assets	—		—			—			39			—			39
Other	8		3			2			27			9			49
Income tax expense (benefit)	304		112			25			41			(100		)	382
Net income (loss)	$	852	$	502		$	217		$	(581	)	$	(185	)	$	805

Net Premiums Earned For Segment By Product

	Property & All Other		Casualty		Life, Accident & Health		ACE Consolidated
	(in millions of U.S. dollars)
For the Three Months Ended September 30, 2012
Insurance – North American	$	1,519	$	860	$	93	$	2,472
Insurance – Overseas General	547		356		529		1,432
Global Reinsurance	131		150		—		281
Life	—		—		480		480
	$	2,197	$	1,366	$	1,102	$	4,665
For the Three Months Ended September 30, 2011
Insurance – North American	$	1,395	$	815	$	89	$	2,299
Insurance – Overseas General	553		366		552		1,471
Global Reinsurance	118		122		—		240
Life	—		—		480		480
	$	2,066	$	1,303	$	1,121	$	4,490

	Property & All Other		Casualty		Life, Accident & Health		ACE Consolidated
	(in millions of U.S. dollars)
For the Nine Months Ended September 30, 2012
Insurance – North American	$	2,631	$	2,505	$	275	$	5,411
Insurance – Overseas General	1,637		1,027		1,579		4,243
Global Reinsurance	355		393		—		748
Life	—		—		1,427		1,427
	$	4,623	$	3,925	$	3,281	$	11,829
For the Nine Months Ended September 30, 2011
Insurance – North American	$	2,413	$	2,570	$	266	$	5,249
Insurance – Overseas General	1,517		1,056		1,591		4,164
Global Reinsurance	345		409		—		754
Life	—		—		1,389		1,389
	$	4,275	$	4,035	$	3,246	$	11,556