“The end of the soft market in insurance has arrived,” Evan Greenberg, chairman and CEO of ACE Limited, declared this morning during an earnings conference call, also announcing a 92 percent drop in third-quarter income for the Zurich-based company.

For ACE, net realized and unrealized investment after-tax losses of $1.3 billion and $311 million losses for Hurricanes Ike and Gustav helped push the third-quarter bottom line down to $54 million, or 16 cents per share, compared to $656 million, or $1.95 per share in last year’s third quarter.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.