Exhibit 99.1

 

LOGO   

ACE Limited

 

Bärengasse 32

 

CH-8001 Zürich

 

Switzerland

 

  

+41 (0)43 456 76 00 main

 

+41 (0)43 456 76 01 fax

 

 

www.acelimited.com

   LOGO

FOR IMMEDIATE RELEASE

 

                      Investor Contact:    Helen M. Wilson
     (441) 299-9283
     helen.wilson@acegroup.com
                      Media Contact:    Stephen M. Wasdick
     (212) 827-4444
     stephen.wasdick@acegroup.com

ACE REPORTS RECORD FOURTH QUARTER 2009 NET INCOME OF $953 MILLION;

OPERATING INCOME OF $683 MILLION, UP 9% IN THE QUARTER,

CONTRIBUTES TO RECORD ANNUAL OPERATING INCOME OF $2.8 BILLION;

BOOK VALUE UP 36% FOR THE YEAR, TANGIBLE BOOK VALUE UP 47%;

2009 OPERATING RETURN ON EQUITY OF 16.2%

ZURICH, Switzerland, February 2, 2010

— ACE Limited (NYSE: ACE) today 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.(1) Income excluding net realized gains (losses) was $2.01 per share, compared with $1.86 per share for the same quarter last year.(2) 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%.(3) The property and casualty (P&C) combined ratio for the quarter was 89.6%.

Fourth Quarter Summary

(in millions, except per share amounts)

(Unaudited)

 

                       (Per Share - Diluted)  
     2009    2008     Change     2009    2008     Change  
              

Net income

   $ 953    $ 20     NM      $ 2.81    $ 0.06     NM   

Net realized gains (losses), net of tax

     270      (604   NM        0.80      (1.80   NM   

Income excluding net realized gains (losses), net of tax (2)

   $ 683    $ 624     9   $ 2.01    $ 1.86     8


The following information was filed by Chubb Ltd (CB) on Tuesday, February 2, 2010 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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