ACE Limited (ACE) reported first-quarter net income of $953 million or $2.77 per share, compared to $973 million or $2.84 per share in the comparable quarter last year.
Operating income for the quarter was $746 million or $2.17 per share, compared to $701 million or $2.05 per share for the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.94 per share for the quarter. Analysts' estimates typically exclude special items.
Net premiums written for the quarter was $3.80 billion, compared to $3.57 billion in the year ago quarter. Eleven analysts had consensus revenue estimate of $3.33 billion for the quarter. Net premiums earned for the quarter was $3.57 billion, compared to $3.38 billion in the same quarter last year.
For 2013, Operating income is expected to range between $7.10 and $7.50 per share. Analysts expect the company to report earnings of $7.85 per share for fiscal 2013. Catastrophe losses included in the estimate are $330 million after tax for the second through fourth quarters.
Previously, the company expected operating income in the range of $6.60 to $7.00 per share for 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.