Tuesday, ACE Ltd. (ACE) reported fourth-quarter net income of $953 million or $2.81 per share, compared to $20 million or $0.06 per share in the same quarter last year.
Income excluding net realized gains was $683 million or $2.01 per share, compared to $624 million or $1.86 per share in the year ago quarter.
On average, 20 analysts polled by Thomson Reuters expected the company to earn $1.93 per share for the quarter. Analysts' estimates typically exclude special items.
Gross premiums written for the quarter was $4.51 billion, up from $4.32 billion in the comparable quarter last year. Net premiums written for the quarter was $3.31 billion, down from $3.05 billion in the year ago. Net premiums earned increased to $3.39 billion from $3.23 billion in the previous year quarter. Analysts expected the company to report revenue of $3.19 billion for the quarter.
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