Ace second-quarter earnings rise 13 pct

Ace Ltd(ACE.N: Quote, Profile, Research), the largest Bermuda-based insurer by assets, said on Tuesday its earnings rose 13 percent in the second quarter, helped by rising underwriting income.
Net earnings were $649 million or $1.93 a share, up from $573 million, or $1.72 a share, in the year-earlier quarter.
Ace said operating earnings, which analysts use to measure performance because it excludes investments, totaled $664 million or $1.98 a share.
Analysts on average had expected the insurer and reinsurer to earn $1.84 per share excluding one-off items, according to Reuters Estimates.
In the year-ago quarter, Ace earned $1.74 a share from operations.
Ace shares were up 1.6 percent in after-hours trading after sliding $2.88, or 4.7 percent, in the main session, closing at $57.86.

AAA Chicago: Fuel Prices Reflect Mixed Trend

Fuel prices have continued to fluctuate during the past month in Illinois and northern Indiana. The average for both states remains over $3. AAA Chicago's most recent Fuel Gauge Report estimates that in Illinois, regular unleaded gasoline has decreased 2 cents during the past month, forecasting an average cost of $3.28 per gallon for the month of July, which is 15 cents lower per gallon from last year.
"Oil prices hit their highest level in almost one year," says Nicole Niemi, AAA Chicago's spokesperson. "The high price of oil and refinery problems in the Midwest continue to cause motorists to feel a little pain at the pump."
In northern Indiana, gas prices average $3.28, which is up 12 cents from June and up 25 cents from July 2006.
-- In Cook County, Ill., self-serve regular unleaded gasoline averages
$3.47, which is down 12 cents compared to last month and 18 cents
higher than last year's price-per-gallon.
-- In DuPage County, Ill., self-serve regular unleaded gasoline averages
$3.32 per gallon, which is a 17-cent decrease from June and 13 cents
higher than last year.
-- In Kane County, Ill., self-serve regular unleaded gasoline averages
$3.32 per gallon, which is 5 cents lower compared to last month and 14
cents higher than June 2006's price.
-- In Lake County, Ill., self-serve regular unleaded gasoline averages
$3.31 per gallon, which is 11 cents lower than last month and up by 12
cents compared to this time last year.
-- In McHenry County, Ill., self-serve regular unleaded gasoline averages
$3.33 per gallon, which is 4 cents lower than June's average and 13
cents higher than June 2006's price.
-- In Will County, Ill., self-serve regular unleaded gasoline averages
$3.36 per gallon, which is 9 cents lower compared to last month and 17
cents higher compared to last year.
-- In Champaign County, Ill., self-serve regular unleaded gasoline
averages $3.25 per gallon, an increase of 14 cents from June and an
increase of 25 cents from last year.
-- In McLean County, Ill., self-serve regular unleaded gasoline averages
$3.21 per gallon, which is 14 cents higher than last month and 16 cents
higher than last year.
-- In Peoria County, Ill., self-serve regular unleaded gasoline averages
$3.21 per gallon, which is a 19-cent increase compared to last month
and a 18-cent increase from July 2006.
-- In Sangamon County, Ill., self-serve regular unleaded gasoline averages
$3.19 per gallon, which is 17 cents higher than last month and 12 cents
higher than last year.
-- In Winnebago County, Ill., self-serve regular unleaded gasoline
averages $3.27 per gallon, an increase of 6 cents from June and an
increase of 31 cents from July 2006.
-- In Allen County, Ind., self-serve regular unleaded gasoline averages
$3.12 per gallon, which is an increase of 5 cents from last month and 9
cents higher than July 2006's price.
-- In Lake County, Ind., self-serve regular unleaded gasoline averages
$3.28 per gallon, a 11-cent increase from June's average and a 16-cent
increase from a year ago.
-- In Porter County, Ind., self-serve regular unleaded gasoline averages
$3.28 per gallon, which is 15 cents higher than last month and 18 cents
higher than last year.
-- In St. Joseph County, Ind., self-serve regular unleaded gasoline
averages $3.12 per gallon, which is 2 cents lower compared to last
month and 11 cents lower compared to last year.

AAA Chicago has represented roadway interests for motorists and pedestrians and serves as a leading advocate for various traffic safety and travel-related issues for more than a century.
For more information on any aspect of AAA Chicago's breadth of service including AAA's home, auto and life insurance products; travel-related services, AAA's Show Your Card & Save program; and/or any AAA membership service including emergency roadside assistance, please visit our Web site at http://www.AAA.com or call us toll-free at 1-866-YOUR-AAA (968-7222).

Hurricane Center Chief Reassigned After Staff Called for His Removal

· The director of the National Hurricane Center was temporarily reassigned Monday, four days after many of the center's employees called for his removal because of his comments about an aging weather satellite.
More than 20 of Bill Proenza's nearly 50 staff members signed a statement last week urging federal officials to dismiss him. They said Proenza undermined the public's confidence in the center by exaggerating the forecasting problems scientists would face if the satellite failed.
Proenza insisted he was only trying to ensure that his forecasters had the best tools and adequate support.
He was to be replaced by Deputy Director Ed Rappaport, center spokesman Dennis Feltgen said.
Rappaport declined to comment on his appointment.
Anson Franklin, a spokesman for the National Oceanic and Atmospheric Administration, which oversees the center, said Proenza is still a NOAA employee, but he would not provide details about his status, citing privacy laws.
Proenza assumed the job in January, replacing longtime director Max Mayfield.