Two of the oldest participants in the Bermuda casualty insurance market reported markedly different second-quarter results, and the older one, ACE, is benefiting from the problems of competitor XL, executives said this morning.

During a conference call announcing a 15 percent jump in net income for the second quarter, Evan Greenberg, chairman and CEO of ACE Limited, now a Zurich-based holding company, said his company’s insurance operating subsidiaries are poised to take advantage of opportunities created by concerns about XL’s financial wherewithal.

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