Ace Ltd. Net Income Dips 14% in 3rd Quarter, to $785M

Ace Ltd. on Wednesday reported net income of $785 million during the third quarter, down 14.2% from the $916 million in profits reported for the same quarter last year. For the first nine months of 2014, Ace reported net income of $2.3 billion, down 16.7% from the $2.76 billion reported in the third quarter of 2013. Ace reported $4.23 billion in net property and casualty premiums during the third quarter, up 2.2% from $4.14 billion in the prior-year quarter. Its property and casualty combined ratio was 86.3% during the quarter, compared to 88.9% in the prior-year quarter. “Net P&C...