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FOR IMMEDIATE RELEASE
|Investor Contact:||Helen M. Wilson|
|Media Contact:||Stephen M. Wasdick|
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)
|(Per Share - Diluted)|
Net realized gains (losses), net of tax
Income excluding net realized gains (losses), net of tax (2)
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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