ACE Ltd. says first quarter 2000 was a winner, beating projected expectations with operating profits rising 13.5 percent. First quarter operating profits rose from $111.8 million last year to $127 million.
Net profit, including $47.5 million in realized investment gain, rose to $174.5 million from $129 in first quarter 1999.
Net premiums rose from $340.7 million to $1.5 billion. Much of this increase in premium can be attributed to ACE’s $1.2 billion purchase of Cigna Corp.’s property and casualty unit.
Was this article valuable?
Here are more articles you may enjoy.
More Florida Insurers Announce Rate Cuts for Auto, Homeowners, Condo Units 
PHP Security Flaws Highlight Potential Systemic Risk Aggregation for Cyber Insurers 
Florida AG Sues Climate Modeler First Street Over Home Risk Scores 
Binance’s $6.3 Billion Hack: How Crypto Insurance Works 
