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ACE ANNOUNCES PRELIMINARY SUPERSTORM SANDY LOSS ESTIMATE
ZURICH, Switzerland – 11 December, 2012 - ACE Limited (NYSE: ACE; BSX: ACE.BH) announced today that preliminary losses in the fourth quarter for the ACE Group of companies attributable to Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax, net of reinsurance and including reinstatement premiums. This estimate includes losses generated from the company’s commercial and personal property and casualty insurance businesses as well as its reinsurance operations. Due to the size and complexity of the storm and related losses, the estimate is subject to change.
The company is updating full-year 2012 guidance to reflect the catastrophe losses and other adjustments currently projected for the quarter. The range is now $7.43 to $7.53 per share of after-tax operating income(1) for the year.
The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.
Investor Contact: Helen M. Wilson
(441) 299-9283
helen.wilson@acegroup.com
Media Contact: Stephen M. Wasdick
(212) 827-4444
stephen.wasdick@acegroup.com