28 January 2015

Investment income boost for Ace

Evan Greenberg
Evan Greenberg
Ace Ltd has reported record fourth-quarter net investment income of $577m versus $557m a year earlier, taking the total for 2014 to $2.3bn compared with $2.1bn in 2013 and contributing to all-time high operating results.

Evan Greenberg, Ace chairman and CEO, said the increase in net investment income during the final quarter reflected strong operating cash flow and was "an exceptional result given the historically low interest-rate environment."

While Ace's operating income finished the year at a record $3.3bn or $9.79 per share, up 4.7%, net income fell 22.9% to $2.8bn ($8.42 per share) reflecting the decline in interest rates and its impact on mark-to-market accounting related to the company's variable annuity reinsurance business.

"Quarterly and annual results were driven by growth in both underwriting and investment income," noted Greenberg.

Ace Ltd, the parent company of Ace Group, is listed on the New York Stock Exchange and is a component of the S&P 500 index.

Channels: 
SAA/ALM
Companies: 
Ace
People: 
Evan Greenberg
Latest Stories
  • Nuveen completes €540m acquisition of French student housing portfolio

    27 June 2025

    In cooperation with Global Student Accommodation (GSA)

  • Axa IM Alts appoints North America and APAC real estate heads

    27 June 2025

    Laurent Jacquemin and Antoine Mesnage take on roles

  • RLAM Property acquires asset manager Shoreline and plans £1bn UK health investment

    27 June 2025

    Continues trend of insurers bringing asset managers in-house

  • US real GDP almost twice as exposed as China's to high tariffs, insurer finds

    27 June 2025

    China Life AM finds Trump hurts US economy more at all of six levee levels

  • Swedish holiday home posts fourth loss in five years for Dina Nord

    27 June 2025

    Returns from Berg municipality rental tracked by Insurance Asset Risk since 2019

Cookies on Insurance Asset Risk

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here