Bermudian reinsurer Ace has announced a record net income of $489m for the first quarter of 2006 against the $437mn it reported for the first quarter of last year.
The record income was achieved in the face of an $80m charge to cover an imminent settlement with regulators.
Ace said underwriting income fell 15.5% from $329m to $278m. Gross and net written premiums both fell, to $4.51bn and $3.31bn, while net premiums earned fell from $2.87bn last year to $2.8bn for the quarter.
Evan Greenberg, president and CEO of ACE, said: "We had an excellent quarter. All divisions of ACE performed well.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
