(Bloomberg) -- Ace Ltd. Chief Executive Officer Evan Greenberg, whose insurer posted a decline in fourth-quarter profit as currency fluctuations pressured results, predicted that recent gains in the dollar will be temporary.
“The U.S. right now is the preferred destination for many investors seeking safety,” Greenberg said in a conference call Wednesday. “We’re the prettiest house in a pretty shabby neighborhood. Over time, I imagine the dollar’s strength against many currencies will go the other way.”
Greenberg has for years targeted acquisitions in Latin America and Asia, and lamented in 2012 that regulators in the U.S. and Europe were stymieing growth with what he called an “assault.” The expansion helped fuel annual gains of at least 10% in Ace’s stock for five straight years through 2010.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
