Ace Q3 net income slips 92%; CEO Greenberg says soft market is 'over'
Ace's third quarter net income slipped 92% to $54m from $656m this time last year, but CEO Evan Greenberg was confident about the year ahead for the reinsurance industry.
The company was hit by $1.3bn of net realized and unrealised loss during the third quarter, as well as $311m of catastrophe losses for the quarter- mostly related to Hurricanes Gustav and Ike.
However
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