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Latest Business News

ACE Continues Internal Investigation

Wednesday, April 27, 2005 3:43:13 PM
By EILEEN ALT POWELL

NEW YORK (AP) - Evan Greenberg, president and chief executive of ACE Ltd., said Wednesday that his insurance company's internal investigation into finite-risk insurance products is nearing completion but so far has found no accounting irregularities.

Greenberg, speaking on a call with analysts about the Bermuda-based firms' first-quarter earnings, said contracts studied to date appear "generally structured in a way to provide for appropriate risk transfer and accounted for properly."

He said the company's internal investigation "should be concluded in about a month's time."


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