ACE Quarterly Profit Down 36%, Hurt By Charges

NU Online News Service, Feb. 1, 3:47 p.m. EST?ACE Ltd. reported fourth-quarter net profit dropped 36 percent to $282 million after a charge to strengthen its asbestos, environmental and other runoff reserves.[@@]

The figure compares with $444 million reported for the 2003 fourth quarter.

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