ACE Reports Q4 EPS of $2.92 vs. 1.85

ACE Limited

today reported net income for the quarter ended December 31, 2010, of $2.92 per share, compared with $2.81 per share for the same quarter last year. Income excluding net realized gains was $2.05 per share, compared with $2.01 per share for the same quarter last year. Book value increased $129 million during the quarter. Book value per share was up 2% from September 30, 2010, and tangible book value per share decreased 2% in the quarter due to the Rain and Hail transaction. Book value and tangible book value per share now stand at $68.59 and $54.63, respectively. Annualized operating return on average equity for the quarter was 13.2%.(3) The property and casualty (P&C) combined ratio for the quarter was 90.3%.