UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
ACE LTD

(Name of Issuer)

Common Stock, $.01 par value per share

(Title of Class of Securities)

KYG0070K1031

(CUSIP Number)

December 31, 2004

(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ X ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
SCHEDULE 13G

CUSIP No.         KYG0070K1031
                  ------------

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          1.   Names of Reporting Persons.  I.R.S.  Identification Nos. of above
               persons (entities only).
               AMVESCAP PLC

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          2.   Check the Appropriate Box if a Member of a Group (see
               Instructions)
               (a)
               (b)

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          3.   SEC Use Only  _______________________________________________

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          4.   Citizenship or Place of Organization
               AMVESCAP PLC:  England
               AIM Advisors, Inc:  United States
               AIM Private Asset Management, Inc.:  United States
               INVESCO Asset Management Limited:  England
               AIM Capital Management, Inc.:  United States
               AIM Funds Management, Inc.:  United States
               INVESCO Institutional (N.A.), Inc.:  United States
               INVESCO Asset Management GmbH:  Germany

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                                    5.      Sole Voting Power 14,798,171:  Such shares are held by the following
                                            entities in the respective amounts listed  AIM Advisors, Inc
                                            11,489,720, AIM Private Asset Management, Inc. 1,307,137,INVESCO Asset
                                            Management Limited 500, AIM Capital Management, Inc. 1,269,250, AIM Funds
                                            Management, Inc. 18,700,INVESCO Institutional (N.A.), Inc. 701,943,
                                            INVESCO Asset Management GmbH 10,921
Number of Shares           --------------------------------------------------------------------------------------------------
Beneficially Owned
by Each Reporting                   6.      Shared Voting Power       _______________
Person With
                           --------------------------------------------------------------------------------------------------

                                    7.      Sole Dispositive Power     14,798,171:  Such shares are held by the following
                                            entities in the respective amounts listed  AIM Advisors, Inc
                                            11,489,720, AIM Private Asset Management, Inc. 1,307,137,INVESCO Asset
                                            Management Limited 500, AIM Capital Management, Inc. 1,269,250, AIM Funds
                                            Management, Inc. 18,700,INVESCO Institutional (N.A.), Inc. 701,943,
                                            INVESCO Asset Management GmbH 10,921
                           --------------------------------------------------------------------------------------------------
                                    8.      Shared Dispositive Power     _______________	

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          9.   Aggregate  Amount  Beneficially  Owned by Each  Reporting  Person
               14,798,171

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          10.  Check if the Aggregate  Amount in Row (9) Excludes Certain Shares
               (See Instructions) N/A

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          11.  Percent of Class Represented by Amount in Row (9)   5.21%
                                                                   -----

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          12.  Type of Reporting Person (See  Instructions)
               IA, HC. See Items 2 and 3 of this statement.	

SCHEDULE 13G

Item 1(a)         Name of Issuer:
                  ACE LTD

Item 1(b)         Address of Issuer's Principal Executive Offices:
                  17 Woodbourne Avenue
                  Hamilton, HM 08
                  Bermuda

Item 2(a)         Name of Person Filing:
                  AMVESCAP PLC

                  In accordance with Securities and Exchange Commission Release
                  No. 34-39538 (January 12, 1998), this statement on Schedule
                  13G or amendment thereto is being filed by AMVESCAP PLC
                  ("AMVESCAP"), a U.K. entity, on behalf of itself and its
                  subsidiaries listed in Item 4 of the cover of this statement.
                  AMVESCAP through such subsidiaries provides investment
                  management services to institutional and individual investors
                  worldwide.

                  Executive officers and directors of AMVESCAP or its
                  subsidiaries may beneficially own shares of the securities of
                  the issuer to which this statement relates (the "Shares"), and
                  such Shares are not reported in this statement. AMVESCAP and
                  its subsidiaries disclaim beneficial ownership of Shares
                  beneficially owned by any of their executive officers and
                  directors. Each of AMVESCAP's direct and indirect subsidiaries
                  also disclaim beneficial ownership of Shares beneficially
                  owned by AMVESCAP and any other subsidiary.

Item 2(b)         Address of Principal Business Office:
                  11 Devonshire Square
                  London EC2M 4YR
                  England

Item 2(c)         Citizenship:
                  See the response to Item 2(a) of this statement.

Item 2(d)         Title of Class of Securities:
                  Common Stock, $.01 par value per share

Item 2(e)         CUSIP Number:
                  KYG0070K1031

Item 3            Type of Reporting Person:
                  An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E)
                  A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G)

                  As noted in Item 2 above, AMVESCAP is making this filing on
                  behalf of its subsidiaries listed herein. Each of these
                  entities is either an investment adviser registered with the
                  United States Securities Exchange Commission under Section 203
                  of the Investment Advisers Act of 1940, as amended, or under
                  similar laws of other jurisdictions. AMVESCAP is a holding
                  company.	

Item 4            Ownership:
                  Please see responses to Items 5-8 on the cover of this
                  statement which are incorporated herein by reference.

Item 5            Ownership of Five Percent or Less of a Class:
                  N/A

Item 6            Ownership of More than Five Percent on Behalf of Another Person:
                  N/A

Item 7            Identification and Classification of the Subsidiary Which Acquired the Security Being Reporting
                  on By the Parent Holding Company:
                  Please see Item 3 of this statement, which is incorporated herein by reference.

Item 8            Identification and Classification of Members of the Group:
                  N/A

Item 9            Notice of Dissolution of a Group:
                  N/A

Item 10           Certification:
                  By signing below I certify that, to the best of my knowledge
                  and belief, the securities referred to above were acquired and
                  are held in the ordinary course of business and were not
                  acquired and are not held for the purpose of or with the
                  effect of changing or influencing the control of the issuer of
                  the securities and were not acquired and are not held in
                  connection with or as a participant in any transaction having
                  that purpose or effect.

                  Signature:
                  After reasonable inquiry and to the best of my knowledge and
                  belief, I certify that the information set forth in this
                  statement is true, complete and correct.

                                                                       February 14, 2005
                                                              --------------------------------------------
                                                                       Date

                                                                       /s/  HAL LIEBES
                                                              --------------------------------------------
                                                                       Signature

                                                              Hal Liebes
                                                              Group Compliance Officer
                                                              AMVESCAP PLC

  
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned agree that AMVESCAP PLC, the common parent company of each of the undersigned, is authorized to sign and make joint filings on Schedule 13G, including any and all amendments thereto, on behalf of each of the undersigned pursuant to Rule 13d-1(k)(1) of the Securities and Exchange Commission.

/s/
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AIM Advisors, Inc.

/s/
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AIM Capital Management, Inc.

/s/
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AIM Funds Management, Inc.

/s/
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AIM Private Asset Management, Inc.

/s/
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AMVESCAP National Trust Company

/s/
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Atlantic Trust Advisors, Inc.

/s/
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Atlantic Trust Co., N.A.	

/s/
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Atlantic Trust Company, N.A.

/s/
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INVESCO Asia Limited

/s/
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INVESCO Asset Management GmbH

/s/
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INVESCO Asset Management Limited

/s/
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INVESCO Asset Management, S.A.

/s/
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INVESCO Asset Management Osterreich GmbH

/s/
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INVESCO Global Asset Management (N.A.), Inc.

/s/
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INVESCO GT Management Company S.A.

/s/
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INVESCO GT Management S.A.	

/s/
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INVESCO Institutional (N.A.), Inc.

/s/
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INVESCO Italia SGR SpA

/s/
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INVESCO Maximum Income Management S.A.

/s/
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INVESCO Private Capital, Inc.

/s/
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INVESCO Senior Secured Management, Inc.

/s/
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INVESCO Taiwan Limited

/s/
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INVESCO Asset Management (Japan) Limited

/s/
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INVESCO Asset Management Ireland Limited

/s/
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INVESCO Kapitalanlagegesellschaft GmbH

/s/
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Stein Roe Investment Counsel, Inc.