ACE Limited Reports Third Quarter Operating Income of $504 Million, or $1.51 Per Share; Net Income of $54 Million, or $0.16 Per Share.

Business Wire › October 28, 2008

Linked as:

Extract

ACE Limited Reports Third Quarter Operating Income of $504 Million, or $1.51 Per Share; Net Income of $54 Million, or $0.16 Per Share.

ZURICH, Switzerland -- ACE Limited (NYSE:ACE) today reported net income for the third quarter ended September 30, 2008, of $0.16 per share, compared with $1.95 per share for the same quarter last year. Income excluding net realized gains (losses) for the third quarter was $1.51 per share, compared with $2.06 per share for the same quarter of last year.(1) The quarter was marked by financial market volatility in both the credit and equity markets, which impacted net income and book value. The net realized and unrealized loss after tax was $1.3 billion during the quarter. Book value decreased $971 million for the...

See the full content of this document