Ace expects $7.25to $8.25 per share in 2009

Jonathan Rest

SWITZERLAND-incorporated insurer and reinsurer Ace Group said it expects operating income for 2009 to be between $7.25 and $8.25 per diluted share. Catastrophe losses included in the full year forecast are $415m (gross) and $330m (net), the insurer added. Ace chairman and chief executive Evan Greenberg ( pictured) said: ”We are operating in a period of great uncertainty. Global economic and financial conditions will be difficult for the foreseeable future. On the other hand, commercial property and casualty market conditions are in a state of change and this presents opportunity for Ace.”