Ace Ltd. Revises Earnings Upwards
NU Online News Service, March 5, 12:34 p.m. EST?Ace Ltd. announced today it will revise its net earnings upward for full-year 2003, as well as for the 2003 fourth quarter, to reflect a $23 million after-tax gain from a terminated derivative contract by its financial guaranty unit.[@@]
The Bermuda-based company's revision will boost its full-year 2003 net income to $1.42 billion from the $1.39 billion originally reported last month. Ace also revised up 2003 realized gains to $252 million from $229 million.
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