Exhibit 99.1

 

       
LOGO   

ACE Limited

Bärengasse 32

CH-8001 Zurich

Switzerland

  

+41 (0)43 456 76 00 main

+41 (0)43 456 76 01 fax

www.acegroup.com

  LOGO

 

      Investor Contact:      Helen M. Wilson
         (441) 299-9283
         helen.wilson@acegroup.com
      Media Contact:    Arnella J. Forde
         (212) 703-7066
         arnella.forde@acegroup.com      

 

ACE REPORTS FOURTH QUARTER OPERATING INCOME OF $824 MILLION OR

$2.39 PER SHARE, UP 67%, P&C NET PREMIUMS WRITTEN UP 20% IN CONSTANT

DOLLARS, AND OPERATING RETURN ON EQUITY OF 12.1%;

RECORD FULL-YEAR OPERATING INCOME OF $3.2 BILLION, UP 23%;

COMBINED RATIO OF 89.3% AND 88%, RESPECTIVELY, FOR QUARTER AND YEAR

 

  Record full-year operating and net income of $9.35 per share and $10.92 per share, respectively
  P&C current accident year combined ratio for the year excluding catastrophe losses was 90%, resulting in P&C underwriting income up 111%
  Book value up 4.7% for the year, or 11.1% excluding unrealized losses, with operating ROE of 12.2%
  Full-year net investment income of over $2.1 billion, down 1.7%

ZURICH — January 28, 2014 —

ACE Limited (NYSE: ACE) today reported net income for the quarter ended December 31, 2013, of $2.90 per share, compared with $2.22 per share for the same quarter last year.(1) Operating income was $2.39 per share, compared with $1.43 per share for the same quarter last year. Book value and tangible book value per share increased 2.2% and 3.0%, respectively, from September 30, 2013. Book value and tangible book value per share now stand at $84.83 and $68.93, respectively. Operating return on equity for the quarter was 12.1%. The property and casualty (P&C) combined ratio for the quarter was 89.3%.

Fourth Quarter Summary

(in millions, except per share amounts)

(Unaudited)

 

                         (Per Share – Diluted)  
       2013          2012          Change         2013          2012          Change    
  

 

 

   

 

 

 

Operating income, net of tax

   $   824       $ 492         67.5   $ 2.39       $ 1.43         67.1

Net realized gains (losses), net of tax

     174         273         (36.3 )%      0.51         0.79         (35.4 )% 
  

 

 

   

 

 

 

Net income

   $   998       $   765         30.5   $ 2.90       $ 2.22         30.6
  

 

 

   

 

 

 


The following information was filed by Chubb Ltd (CB) on Tuesday, January 28, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Chubb Ltd's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Chubb Ltd.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account