Jan 29 Insurer ACE Ltd reported a 24
percent fall in quarterly operating profit, hurt by losses
resulting from superstorm Sandy, and forecast a full-year profit
below analysts' estimates.
The company forecast an operating profit of between $6.60
and $7.00 per share for 2013, below the average analyst forecast
of $7.89 per share.
Net earnings rose to $765 million, or $2.22 per share, for
the fourth quarter, from $735 million, or $2.15 per share, a
On an operating basis, the Zurich-based property and
casualty insurer and reinsurer earned $1.43 per share.
Analysts on average had expected an operating profit of
$1.28 per share, according to Thomson Reuters I/B/E/S.