Ace Ltd. says it reversed a third-quarter loss a year ago by turning a profit of $640 million during the same period this year, despite booking a $97 million after-tax loss in its crop insurance segment.
Overcoming the losses caused by the massive drought in the Midwest U.S. were lower catastrophe losses and an increase in net premiums.
Third-quarter catastrophe losses were $41 million after-tax, compared to $86 million during the same time a year ago.
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