ACE has reported a 95% rise in net premiums written for its global reinsurance operation during the second quarter 2002.
The Bermudian insurer said net premiums written during the second quarter of 2002 increased by 28% to $1.9bn (£1.2bn) compared with $1.5bn (£0.95bn) for the same quarter in 2001.
Underwriting results also improved in the current quarter with a consolidated combined ratio of 91.5% versus 99.1% for the same quarter 2001.
Net operating income for the quarter ended June 30 was $236m (£150m), compared with $115m (£73m) for the same quarter in 2001.
