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.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment