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News - Ace survives 2005 with healthy profit.
(From Reinsurance)
Ace has posted a profit of $1bn in net income for the year 2005, despite the fact that it was hit by substantial losses from the intense hurricane season.
The company saw net income fall slightly from the $1.15bn it posted for 2004, and it saw its catastrophe losses soar from $437m to $1.049bn on the back of the damage caused by hurricanes Katrina, Rita and Wilma.
However, the company was able to stay in the black by claiming on its reinsurance, with recoverables climbing from $14.8bn at the end of 2004 to $15.5bn at the end of 2005. The company's property/catastrophe combined ratio increased from 96.9% in 2004 to 99.3% for 2005. ...
- ACE Limited Reports Fourth Quarter 2005 Net Income of $237 Million, Full Year...
- Press release article from: Business Wire January 31, 2006 700+ words
...15% $6.59 $5.93 11% Combined ratio, excluding A&E charge...Chief Executive Officer of ACE Limited, commented: "This...insured catastrophe losses, yet ACE finished the year with a combined ratio under 100%, an ROE of approximately...
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- Press release article from: Business Wire October 25, 2005 700+ words
...HAMILTON, Bermuda -- ACE Limited (NYSE: ACE) today reported a...quarter of 2004. The combined ratio was 116.5%. If...catastrophe losses the combined ratio would be 88.4% for...Executive Officer of ACE Limited, commented...
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...Share Is up 14% to a Record $6.41; Combined Ratio Is 82.9% WARREN, N.J., Jan...for 3.8 percentage points of the combined ratio, compared to 0.9 points in the fourth...Excluding the impact of catastrophes, the combined ratio improved 2.2 percentage points to...
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- Press release article from: PR Newswire February 1, 2005 700+ words
...reserve strengthening in both years, the combined ratio for the fourth quarter was 88.1...million (0.4 percentage points of the combined ratio) in 2004, compared to $32.5 million...Chubb Re, premiums increased 8%. The combined ratio for 2004 was 92.3% -- the best...
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- Press release article from: PR Newswire October 26, 2004 700+ words
...for 6.7 percentage points of the combined ratio, compared to $96.0 million (3...percentage point of this growth. The combined ratio for the first nine months was 92...million (3.9 percentage points of the combined ratio) in 2004, compared to $261.5 million...
- Chubb Reports 4th Quarter Net Income per Share of $1.56; Operating Income per...
- Press release article from: PR Newswire January 30, 2007 700+ words
...Share Is up 45% to a Record $5.60; Combined Ratio Is 84.2% WARREN, N.J., Jan...for 0.9 percentage points of the combined ratio, compared to 4.0 points in the fourth...Excluding the impact of catastrophes, the combined ratio improved 3.1 percentage points to...
- Chubb Reports First Quarter Net Income of $360.7 Million or $1.88 Per Share;...
- Press release article from: PR Newswire April 26, 2004 700+ words
...accounted for 3.5 points of the combined ratio. In the first quarter of 2003...accounted for 4.1 points of the combined ratio. Excluding catastrophe losses, the first quarter combined ratio was 89.1% in 2004 and 91.2...
- Chubb Reports 4th Quarter Net Income per Share of $2.92; Operating Income per...
- Press release article from: PR Newswire January 31, 2006 700+ words
...Share Is up 6% to a Record $7.73; Combined Ratio Is 92.3% Chubb Forecasts 2006 Operating...for 4.0 percentage points of the combined ratio in 2005, compared to 0.4 points...Assumed business declined 21%. The combined ratio in 2005 was 92.3%, the same as...