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ACE profits double in 2006

Mark A. Hofmann

January 31, 2007 Reprints

P/C Insurers Ace Bermuda More + Less -

HAMILTON, 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.

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ACE profits double in 2006

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