Financial profile
Combined is committed to offering affordable, quality products that protect individuals and families without asking them to dig deeply in their pockets in the process. We believe in bringing value to all aspects of our organisation, whether you’re a customer, employee or business associate.
Financial Facts
Combined has paid more than €6.5 billion in benefits over the years and has consolidated assets in excess of €2 billion. In 2006 almost €1.3 million was paid each and every working day in benefits – that’s over €336 million in total benefits for the year.1
Financial Ratings
Today’s market demands that companies demonstrate the stamina and endurance to perform in the long term. Combined Insurance Company of America’s financial strength is recognised by the various professional organisations that review insurance companies and has earned the following rankings:
| A.M. Best | A Excellent (June 2006) |
| Standard & Poors | A (April 2008) |
| Moody's | A2 (May 2008) |
| Fitch | AA- (April 2008) |
Financial Statement
Combined has a long tradition of maintaining a strong financial profile. We consistently achieve strong cash flows and our invested assets emphasise high quality, fixed income assets that match our product liabilities reasonably. Our products generate stable claims patterns with minimal fluctuations which may result from changes in today's economic conditions. This, in conjunction with tightly managed expenses and conservative investment practices, produces predictable operating results, a strong cash flow and desirable return on capital.
2006 Statutory Results
* Note: Dollars in thousands, Annual Return for Combined Worldwide
| Premiums Written | $1,234,258 |
| Revenue | $1,477,341 |
| Pre-Tax Income | $218,295 |
| Invested Assets & Cash | $2,661,806 |
| Total Assets | $2,878,446 |
| Insurance Liabilities | $1,817,872 |
| Total Liabilities | $2,069,193 |
| Total Capital & Surplus | $809,253 |
Ace Limited
ACE Limited is the Bermuda-based holding company of the ACE Group of Companies – leading providers of commercial property and casualty (P&C) insurance and reinsurance.
The company was established in 1985 by a group of 34 Fortune 500 companies in order to provide hard-to-find excess liability and director and officer coverage. ACE Limited is a public company that trades on the New York Stock Exchange under the symbol ACE and is part of the Standard & Poor’s 500 stock index.
As a result of acquisitions, the company now traces its history back to 1792 when the Insurance Company of North America issued its first coverage on a trans-Atlantic shipment from the U.S. to Ireland. 2
Sources: 1 & 2 Combined Insurance 2007
