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ACE Limited Reports Second Quarter 2009 Net Income of $535 Million and Operating Income of $706 Million; Book Value up 14% Year to Date
Hamilton, Bermuda: 27 July 2009 - ACE Limited (NYSE:ACE) today reported net income for the quarter ended June 30, 2009, of $1.58 per share, compared with $2.18 per share for the same quarter last year.(1) Income excluding net realized gains (losses) was $2.09 per share, compared with $2.16 per share.(2) Adjusted for foreign exchange, income excluding net realized gains (losses) was $2.09 per share, compared with $2.08 per share.(2) Net realized and unrealized gains after tax were $1 billion. Book value increased $1.8 billion, up 12% from March 31, 2009. Annualized return on average equity was 18%.(3) The property and casualty (P&C) combined ratio was 87.7%.
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