Bermuda-based ACE Limited reported gross written premium up 19% for the three months ending 30 June 2004.

Gross written premiums went up from $3.4bn in 2003 to $4.0bn for the second quarter of 2004.

Pretax profit increased by 18%, up from $459m in 2003 to $541m for 2004. Basic earnings per share were $1.43 for the quarter.

Net income was $413m, up from $370m in the previous year.