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ACE Reports Third Quarter Earnings
Hamilton, Bermuda: 24 October 2012 - ACE REPORTS THIRD QUARTER OPERATING INCOME OF $688 MILLION, COMBINED RATIO OF 92.0% AND OPERATING ROE OF 11.5%; BOOK VALUE UP 10.8% AND TANGIBLE BOOK VALUE UP 12.5% FOR THE YEAR.
• Total net premiums written up 8.6% in the quarter, up 11.1% in constant dollars
• Book value up 4.7% in the quarter and tangible book value up 5%
• Year-to-date combined ratio is 90.2%; operating ROE is 12.1%
• Year-to-date net income up over 140% and operating income up 27%
• Full-year guidance, updated for year-to-date results, is now $7.73 - $8.03 per share
of after-tax operating income
For full report: http://news.acegroup.com/news/acegroup/20121023006830/en/ACE-Reports-Quarter-Operating-Income-688-Million