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|Investor Contact:||Helen M. Wilson|
|Media Contact:||Arnella J. Forde|
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)
|(Per Share Diluted)|
Operating income, net of tax
Net realized gains (losses), net of tax
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.
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