The following table shows our main credit facilities by credit line, usage, expiry date, and purpose at December 31, 2008.
## Table 0 ##
(1) Certain facilities are guaranteed by operating subsidiaries and/or ACE Limited.
(2) May also be used for LOCs.
(3) Supports ACE Global Markets underwriting capacity for Lloyd’s Syndicate 2488.
It is anticipated that the commercial facilities will be renewed on expiry but such renewals are subject to the availability of credit from banks utilized by ACE.
In the event that such credit support is insufficient, we could be required to provide alternative security to clients.
This could take the form of additional insurance trusts supported by our investment portfolio or funds withheld using our cash resources.
The value of letters of credit required is driven by, among other things, loss development of existing reserves, the payment pattern of such reserves, the expansion of business and loss experience of such business.
The facilities in the table above require that we maintain certain covenants, all of which have been met at December 31, 2008.
These covenants include (but are not limited to): (i)Maintenance of a minimum consolidated net worth in an amount not less than the “Minimum Amount”.
For the purpose of this calculation, the Minimum Amount is an amount equal to the sum of the base amount (currently $11.7 billion) plus 25 percent of consolidated net income for each fiscal quarter, ending after the date on which the current base amount became effective, plus 50 percent of any increase in consolidated net worth during the same period, attributable to the issuance of Common and Preferred Shares.
The Minimum Amount is subject to an annual reset provision.
(ii) Maintenance of a maximum debt to total capitalization ratio of not greater than 0.35 to 1.
Under this covenant, debt does not include trust preferred securities or mezzanine equity, except where the ratio of the sum of trust preferred securities and mezzanine equity to total capitalization is greater than 15 percent.
In this circumstance, the amount greater than 15 percent would be included in the debt to total capitalization ratio.
At December 31, 2008, (a) the minimum consolidated net worth requirement under the covenant described in (i) above was $11.97 billion and our actual consolidated net worth as calculated under that covenant was $16.2 billion and b) our ratio of debt to total capitalization was 0.182 to 1.
Our failure to comply with the covenants under any credit facility would, subject to grace periods in the case of certain covenants, result in an event of default.
This could require us to repay any outstanding borrowings or to cash collateralize LOCs under such facility.
A failure by ACE Limited (or any of its subsidiaries) to pay an obligation due for an amount exceeding $50 million would result in an event of default under all of the facilities described above.
Ratings ACE Limited and its subsidiaries are assigned debt and financial strength (insurance) ratings from internationally recognized rating agencies, including S&P, A. M.  Best, Moody’s Investors Service, and Fitch.
The ratings issued on our companies by these agencies are announced publicly and are available directly from the agencies.
Our Internet site, www.
acelimited.
com, also contains some information about our ratings, which can be found under the Investor Information tab.
Financial strength ratings reflect the rating agencies’ opinions of a company’s claims paying ability.
Independent ratings are one of the important factors that establish our competitive position in the insurance markets.
The rating agencies consider many factors in determining the financial strength rating of an insurance company, including the relative level of statutory surplus necessary to support the business operations of the company.
These ratings are based upon factors relevant to policyholders, agents, and intermediaries and are not directed toward the protection of investors.
Such ratings are not recommendations to buy, sell, or hold securities.
Debt ratings apply to short-term and long-term debt.
These ratings are assessments of the likelihood that we will make timely payments of principal, interest, and preferred stock dividends.
The process of establishing loss reserves for property and casualty claims can be complex and is subject to considerable uncertainty as it requires the use of informed estimates and judgments based on circumstances known at the date of accrual.
The following table shows our total reserves segregated between case reserves (including loss expense reserves) and IBNR reserves at December 31, 2008 and 2007.
## Table 1 ##
The following table segregates the loss reserves by line of business including property and all other, casualty, and personal accident (A&H) at December 31, 2008 and 2007.
In the table, loss expenses are defined to include unallocated and allocated loss adjustment expenses.
For certain lines, in particular ACE International and ACE Bermuda products, loss adjustment expenses are partially included in IBNR and partially included in loss expenses.
## Table 2 ##
The judgments used to estimate unpaid loss and loss expense reserves require different considerations depending upon the individual circumstances underlying the insured loss.
For example, the reserves established for high excess casualty claims, A&E claims, claims from major catastrophic events, or the IBNR for our various product lines each require different assumptions and judgments to be made.
Necessary judgments are based on numerous factors and may be revised as additional experience and other data become available and are reviewed, as new or improved methods are developed, or as laws change.
Hence, ultimate loss payments may differ from the estimate of the ultimate liabilities made at the balance sheet date.
Changes to our previous estimates of prior period loss reserves impact the reported calendar year underwriting results by worsening our reported results if the prior year reserves prove to be deficient or improving our reported results if the prior year reserves prove to be redundant.
The potential for variation in loss reserves is impacted by numerous factors, which we discuss below.
Performance Graph The table below compares the cumulative total shareholder return on our common stock with the cumulative total return of (i) the Standard & Poor’s 500 Composite Stock Index (‘‘S&P 500 Index’’), (ii) The Standard & Poor’s Industrials Index (‘‘S&P Industrials Index’’) and (iii) the Standard & Poor’s Consumer Durables & Apparel Index (‘‘S&P Consumer Durables & Apparel Index’’), from December 31, 2008 through December 31, 2013, when the closing price of our common stock was $22.77.
The graph assumes investments of $100 on December 31, 2008 in our common stock and in each of the three indices and the reinvestment of dividends.
## Table 3 ##
The table below sets forth the value, as of December 31 for each of the years indicated, of a $100 investment made on December 31, 2008 in each of our common stock, the S&P 500 Index, the S&P Industrials Index and the S&P Consumer Durables & Apparel Index and includes the reinvestment of dividends.
In July 2007, our Board of Directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise.
At December 31, 2013, we had remaining authorization to repurchase up to 22.6 million shares.
During the first quarter of 2013, we repurchased and retired 1.7 million shares of our common stock, for cash aggregating $35 million to offset the dilutive impact of the 2013 grant of 1.7 million shares of long-term stock awards.
We have not purchased any shares since March 2013.

Tables referenced above, in order (Table 0 first):
<table><tr><td> (in millions of U.S. dollars)</td><td> Credit Line<sup>1</sup></td><td> Usage</td><td> Expiry Date</td></tr><tr><td> Unsecured Liquidity Facilities</td><td></td><td></td><td></td></tr><tr><td>ACE Limited<sup>2</sup></td><td>$500</td><td>$142</td><td>Nov. 2012</td></tr><tr><td><i>Unsecured Operational LOC Facilities</i></td><td></td><td></td><td></td></tr><tr><td>ACE Limited</td><td>1,000</td><td>811</td><td>Nov. 2012</td></tr><tr><td><i>Unsecured Capital Facilities</i></td><td></td><td></td><td></td></tr><tr><td>ACE Limited<sup>3</sup></td><td>438</td><td>256</td><td>Dec. 2013</td></tr><tr><td>Total</td><td>$1,938</td><td>$1,209</td><td></td></tr></table>
<table><tr><td></td><td colspan="3"> 2008</td><td colspan="3">2007</td></tr><tr><td>(in millions of U.S. dollars)</td><td> Gross</td><td> Ceded</td><td> Net</td><td>Gross</td><td>Ceded</td><td>Net</td></tr><tr><td>Case reserves</td><td>$16,583</td><td>$6,539</td><td>$10,044</td><td>$15,625</td><td>$6,077</td><td>$9,548</td></tr><tr><td>IBNR</td><td>20,593</td><td>6,396</td><td>14,197</td><td>21,487</td><td>7,443</td><td>14,044</td></tr><tr><td>Total</td><td>$37,176</td><td>$12,935</td><td>$24,241</td><td>$37,112</td><td>$13,520</td><td>$23,592</td></tr></table>
<table><tr><td></td><td colspan="3"> 2008</td><td colspan="3">2007</td></tr><tr><td>(in millions of U.S. dollars)</td><td> Gross</td><td> Ceded</td><td> Net</td><td>Gross</td><td>Ceded</td><td>Net</td></tr><tr><td><i>Property and all other</i></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Case reserves</td><td>$3,180</td><td>$1,367</td><td>$1,813</td><td>$2,901</td><td>$1,256</td><td>$1,645</td></tr><tr><td>Loss expenses</td><td>264</td><td>92</td><td>172</td><td>230</td><td>55</td><td>175</td></tr><tr><td>IBNR</td><td>2,456</td><td>1,084</td><td>1,372</td><td>2,824</td><td>1,095</td><td>1,729</td></tr><tr><td>Subtotal</td><td>5,900</td><td>2,543</td><td>3,357</td><td>5,955</td><td>2,406</td><td>3,549</td></tr><tr><td><i>Casualty</i></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Case reserves</td><td>8,700</td><td>3,178</td><td>5,522</td><td>8,747</td><td>3,150</td><td>5,597</td></tr><tr><td>Loss expenses</td><td>3,871</td><td>1,779</td><td>2,092</td><td>3,348</td><td>1,544</td><td>1,804</td></tr><tr><td>IBNR</td><td>17,455</td><td>5,144</td><td>12,311</td><td>18,070</td><td>6,193</td><td>11,877</td></tr><tr><td>Subtotal</td><td>30,026</td><td>10,101</td><td>19,925</td><td>30,165</td><td>10,887</td><td>19,278</td></tr><tr><td><i>A&H</i></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Case reserves</td><td>536</td><td>121</td><td>415</td><td>370</td><td>68</td><td>302</td></tr><tr><td>Loss expenses</td><td>32</td><td>2</td><td>30</td><td>29</td><td>4</td><td>25</td></tr><tr><td>IBNR</td><td>682</td><td>168</td><td>514</td><td>593</td><td>155</td><td>438</td></tr><tr><td>Subtotal</td><td>1,250</td><td>291</td><td>959</td><td>992</td><td>227</td><td>765</td></tr><tr><td><i>Total</i></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Case reserves</td><td>12,416</td><td>4,666</td><td>7,750</td><td>12,018</td><td>4,474</td><td>7,544</td></tr><tr><td>Loss expenses</td><td>4,167</td><td>1,873</td><td>2,294</td><td>3,607</td><td>1,603</td><td>2,004</td></tr><tr><td>IBNR</td><td>20,593</td><td>6,396</td><td>14,197</td><td>21,487</td><td>7,443</td><td>14,044</td></tr><tr><td>Total</td><td>$37,176</td><td>$12,935</td><td>$24,241</td><td>$37,112</td><td>$13,520</td><td>$23,592</td></tr></table>
<table><tr><td></td><td>2009</td><td>2010</td><td>2011</td><td>2012</td><td>2013</td></tr><tr><td>Masco</td><td>$128.21</td><td>$120.32</td><td>$102.45</td><td>$165.80</td><td>$229.59</td></tr><tr><td>S&P 500 Index</td><td>$125.92</td><td>$144.58</td><td>$147.60</td><td>$171.04</td><td>$225.85</td></tr><tr><td>S&P Industrials Index</td><td>$120.19</td><td>$151.89</td><td>$150.97</td><td>$173.87</td><td>$243.73</td></tr><tr><td>S&P Consumer Durables & Apparel Index</td><td>$136.29</td><td>$177.91</td><td>$191.64</td><td>$232.84</td><td>$316.28</td></tr></table>

Question: What's the growth rate of IBNR of A&H of Gross in 2008?
Answer: 0.15008
Reasoning program: subtract(682,593), divide(#0,593)