WASHINGTON (dpa-AFX) - ACE Limited (ACE) reported a third-quarter net loss available to holders of common shares of $31 million, compared to profit of $675 million in the year ago quarter. Net loss was $0.09 per share, compared with net income of $1.97 per share for the same quarter last year.
Income, excluding items, was $2.22 per share, compared with $2.01 per share for the same quarter last year.
Net premiums written increased to $4.34 billion from $3.30 billion last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.78 per share on revenues of $3.80 billion for the quarter. Analysts' estimates typically exclude special items.
The company increased earnings guidance for full-year 2011. Operating income after tax is now expected to range between $6.55 and $6.75 per share for the full year. Earlier, the company had expected after tax operating income to be in the range of $6.00 - $6.20 per share. Analysts expect the company to report earnings of $6.51 per share for fiscal 2011.
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