ACE Operating Earnings Tops Estimates

(RTTNews) - Insurer ACE Ltd (ACE) on Tuesday reported fourth-quarter net earnings of $555 million or $1.66 per share compared with $998 million or $2.90 per share last year.

Excluding items, operating earnings for the quarter were $2.47 per share compared with $2.39 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $2.29 per share for the quarter. Analysts' estimates typically exclude special items.

Net premiums written for the quarter rose to $4.33 billion from $4.22 billion last year, and net premiums earned climbed to $4.37 billion from $4.36 billion.

Analysts estimated revenues of $3.8 billion for the quarter.

The company's book value per share declined 0.4% from September 30, 2014, to $90.02, primarily due to unfavorable foreign currency movement.