ACE Limited today reported net income for the quarter ended March 31, 2014, of USD 2.14 per share, compared with USD 2.77 per share for the same quarter last year. Operating income was USD 2.27 per share, compared with USD 2.17 per share for the same quarter last year. Book value and tangible book value per share increased 2.4% and 3.0%, respectively, from December 31, 2013. Book value and tangible book value per share now stand at USD 86.90 and USD 70.97, respectively. Operating return on equity for the quarter was 11.2%. The property and casualty (P&C) combined ratio for the quarter was 88.8%.

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ACE reports first quarter operating income up 4% to USD 777 million