ACE Limited Chairman and CEO Evan Greenberg is optimistic about the pricing environment in the U.S. and prospects for growth in 2013.
But when analysts in a quarterly conference call yesterday tried to square that optimism with what they saw as ACE's relatively conservative earnings per share guidance for 2013, Greenberg, when prompted, questioned the usefulness of offering guidance altogether.
Ian Gutterman, an analyst at Adage Capital Management, set Greenberg up for the comment by saying to the ACE executive, "…I kind of wonder if guidance has outlived its usefulness for you guys. It seems every year at this time, it causes confusion, or at least more years than not it does."
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