ACE Gives Earnings Guidance for 2010
ACE Limited has announced the following earnings guidance for the ACE Group for the full year 2010:
— Operating Income per Diluted Share is expected to range between $6.25 and $6.75.
— Catastrophe Losses included in our estimated earnings are $390 million pre-tax ($317 million after-tax)
ACE noted that the “operating income projections included in this guidance are for current accident year results only and by definition do not include any estimate for prior period reserve development.
“Current third party earnings estimates for the company, however, may include assumed amounts of prior period reserve development and as a result may not be viewed on a comparable basis to this earnings guidance.”
Source: ACE Group – www.acelimited.com.
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