News Releases

ZURICH--(BUSINESS WIRE)--ACE Limited (NYSE:ACE) announced today that preliminary net after-tax losses in the first quarter for the ACE Group of insurance and reinsurance companies from natural catastrophes, including the New Zealand earthquake, the Australian floods and Cyclone Yasi, and the U.S. winter storms, are estimated to be $210 million, including reinstatement premiums. Of the total, $115 million is attributable to the New Zealand earthquake, $80 million to the Australian events in aggregate, and $15 million to the U.S. winter storms.

Separately, the company estimates net after-tax losses in the first quarter related to the Japanese earthquake event, for both insurance and reinsurance, will range from $200 million to $250 million. The loss estimates for the Japanese earthquake event are preliminary given details are still unfolding.

Celebrating 25 years of insuring progress, the ACE Group is a leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acegroup.com.

Cautionary Statement Regarding Forward-Looking Statements:

Forward-looking statements made in this press release reflect ACE Limited’s current views with respect to future events and financial performance and reports, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. Among other things, the forward-looking statements concerning net after-tax losses could be affected by the number of insureds and ceding companies affected by the relevant catastrophes, the amount and timing of losses actually incurred and reported by insureds, the preliminary nature of reports and estimates of loss to date, impact on the company's reinsurers, the amount and timing of reinsurance recoverables actually received, coverage and regulatory issues, and other factors identified in the company’s filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.