Bermuda’s two largest insurers, ACE and XL, both announced disappointing fourth quarter results, with ACE’s net income down around 60 percent to $46.265 million for the period, and XL recording a net loss of $6.1 million. Both companies also announced …
Bermuda’s ACE Ltd. became one of the first insurers, but certainly not the last, to issue a profit warning on fourth quarter earnings in 2001. Yesterday’s announcement indicated that it expected fourth quarter net operating incometo fall below expectations due …
ACE Limited announced that Philip V. Bancroft will join the ACE Group of Companies as CFO of ACE Limited, effective immediately. Bancroft will be based in Bermuda and will report directly to Brian Duperreault, chairman and CEO of ACE Limited. …
Bermuda’s ACE Limited became the latest insurer to report a third quarter loss due to the impact of the Sept. 11 attacks. ACE said that its net loss during the period, excluding net realized gains (losses), non-recurring expenses and charges …
Bermuda’s ACE Ltd. increased its estimates of anticipated losses from the terrorist attacks in the U.S. from $400 million to $550 million, citing additional reinsurance claims as the principal factor. The company’s estimates on its primary loss coverage remains unchanged …
In a recent White House meeting, Independent Insurance Agents of America (IIAA) CEO Robert A. Rusbuldt and other industry leaders reassured President Bush that insurance agents and companies are well-positioned to handle and pay claims stemming from the Sept. 11 …
As ACE Limited examined its levels of insurance and reinsurance exposure, the Company joined the world community in condemning Sept. 11’s acts of terrorism in the U.S. Brian Duperreault, chairman and CEO of ACE Limited, stated: “The human toll is …
Three Bermuda-based insurance groups, including the island’s largest insurer, ACE Limited, all posted significant earnings increases for the year’s first quarter. Despite adopting stricter accounting rules, ACE reported net operating income of $164 million, a 29 percent increase over Q1 …
Bermuda’s ACE Ltd. announced that one of its top executives, John Charman, who was recently named group president and chief executive officer of the ACE International Group, was leaving the company. “This development occurred as a result of differences between …
ACE Ltd. CO Brian Duperreault announced that the company would restructuring its operations into two main groups, ACE U.S and Bermuda, and ACE International. Each group will be headed by its own chief executive. Duperreault praised Dominic Frederico, who will …
