Insurance group ACE has reported net income of $607m, or $1.77 per share for the second quarter of 2011, compared to $677m, or $1.98 per share, in the same quarter last year.
Net premiums written increased to $3.95bn for the second quarter of 2011, compared to $3.42b in the last year.
Net premiums earned were $3.75bn for the second quarter of 2011, compared to $3.23bn in the same quarter last year.
Total pre-tax catastrophe losses including reinstatement premiums were $134m, compared with $81m for the second quarter of 2010.
ACE chairman and CEO Evan Greenberg said the firm had an excellent second quarter. Operating income was $686m and our ROE was approximately 12.5%. Book value and book value per share grew 3% in the quarter and are up 5% and 4%, respectively, for the year.