HAMILTON, Bermuda -- October 7, 1999 -- ACE Limited (NYSE: ACL, BSX ACL.BH) today provided information on catastrophic losses that occurred in the quarter ended September 30, 1999. The insurance industry sustained a number of catastrophe losses during the quarter, including major earthquakes in Taiwan, Turkey and Mexico, a cyclone in Hong Kong and Hurricane Floyd in the U.S. ACE estimates that the effect on its net operating income for the quarter from these catastrophic events will be approximately $35 million after taxes.
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The company conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.
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