Ace chairman: we are posied to take advantage of the weaknesses of others
Ace has said it will report net realised and unrealised losses of approximately $1.5bn (£890m) but claimed its capital position "remains firmly” in the range of the capital required by all principal rating agencies for its ratings.
The losses comes from the group’s fixed income and equities portfolios, which have taken a battering in the last month as the global stock markets fell to some of their lowest levels in their history
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