WASHINGTON (dpa-AFX) - ACE Limited (ACE) reported first-quarter net income of $681 million or $2.05 per share, compared to $734 million or $2.14 per share, prior year. Operating income per share was $2.25 for the quarter.
On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $2.22 for the quarter. Analysts' estimates typically exclude special items.
The company said its year-over-year results were adversely impacted by foreign exchange in the period, and a number of favorable items from the prior year that did not repeat.
Net premiums earned was $3.93 billion, compared to $3.97 billion, prior year. Analysts expected revenue of $3.72 billion for the quarter.
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