Ace FY net income more than halves on investment losses
Ace,the Switzerland-domiciled (re)insurer, said that full-year net income more than halved after heavy investment losses.
The company said that full-year net income for 2008 dropped to $1.197bn from $2.578 a year earlier. Fourth quarter net income dropped to just $20m from $572m the year before.
Hurting the result was $1
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