NU Online News Service, Feb. 1, 3:31 p.m. EST
ACE Limited says 2011 fourth-quarter net income declined 25 percent to $750 million, as catastrophe losses more than doubled compared to the 2010 fourth quarter, when net income was $1 billion.
Fourth-quarter catastrophe losses were $155 million, with $117 million stemming from Thailand floods, compared to $50 million in catastrophe losses in the 2010 fourth quarter.
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