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ACE Profit Jumps 50 Pct, 'firming Market' Helps

Stock quotes in this article: ACE  

ZURICH (AP) — Insurance provider ACE Ltd.'s profit jumped 50 percent in the latest quarter, more than Wall Street expected, as the company benefited from a "generally firming market" that helped spur new polices and higher revenue from premiums.

ACE said Tuesday that its net income was $567 million, or $1.69 per share, versus $377 million, or $1.10 per share, in the year-ago period.

Excluding net realized gains and losses, the profit was $1.99 per share. On that same basis, analysts polled by Thomson Reuters had projected $1.96. ...

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