ACE profits double in 2006
Posted On: Jan. 31, 2007 12:00 AM CSTHAMILTON, Bermuda--ACE Ltd. registered net income of $2.31 billion last year, up from $1.03 billion a year earlier, the Bermuda-based insurer announced Monday.
Underwriting income rose to $1.46 billion for last year, compared with $110 million in 2005, according to ACE. Net written premiums rose to $12.03 billion from $11.79 billion a year earlier.
The insurer's combined ratio improved to 88.1% in 2006 from 99.5% a year earlier.
The report included fourth-quarter net income of $665 million, up from $236 million during the same period in 2005.