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Home . International Insurance News . Europe . ACE profits more than double in 2009

ACE profits more than double in 2009

Wednesday, February 03, 2010

Zurich, Switzerland – February 2, 2010 – ACE Limited reported net income for the quarter ended December 31, 2009, of $2.81 per share, compared with $0.06 per share for the same quarter last year. Income excluding net realized gains (losses) was $2.01 per share, compared with $1.86 per share for the same quarter last year.Book value increased $934 million during the quarter, up 5% from September 30, 2009. Book value per share now stands at $58.44. Annualized return on average equity for the quarter was 14.2%. The property and casualty (P&C) combined ratio for the quarter was 89.6%.
 
ACE reported that its profits grew 113% to $2.54 billion in 2009, which the insurer attributed in part to currency fluctuations.
 
View Full Release http://www.acelimited.com/AceLimitedWeb/Images/pdf_icon.jpg view pdf version
 


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