EXHIBIT - 11.1
ACE LIMITED AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Three Months Ended Six Months Ended
March 31 March 31
1996 1995 1996 1995
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(in thousands, except per share amounts)
Earnings per share - Primary
Weighted average shares outstanding 46,105,114 47,182,802 46,107,816 47,281,905
Average stock options outstanding (net of repurchased
shares under the treasury stock method) 354,507 61,219 354,507 61,219
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Weighted average shares and share equivalents
outstanding 46,459,621 47,244,021 46,462,323 47,343,124
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Net income $ 56,803 $ 51,926 $ 150,339 $ 53,296
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Earnings per share $ 1.22 $ 1.10 $ 3.24$ 1.13
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Earnings per share - Assuming full dilution
Weighted average shares outstanding 46,105,114 47,182,802 46,107,816 47,281,905
Average stock options outstanding (net of repurchased
shares under the treasury stock method) 363,585 61,219 363,585 61,219
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Weighted average shares and share equivalents
outstanding 46,468,699 47,244,021 46,471,401 47,343,124
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Net income $ 56,803 $ 51,926 $ 150,339 $ 53,296
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Earnings per share $ 1.22 $ 1.10$ 3.24 $ 1.13
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