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Fitch Rates ACE & Chubb Following Acquisition

Fitch Rates ACE & Chubb Following Acquisition

Following the acquisition of Chubb by ACE, Fitch Ratings has affirmed all the ratings for ACE Limited and its subsidiaries and the Insurer Financial Strength [IFS] ratings for The Chubb Corporation operating subsidiaries. Fitch has downgraded Chubb’s Issuer Default Rating [IDR] to ‘A+’ from ‘AA-’ and downgraded all other... Read more of this article

ACE Receives Approvals To Close Acquisition

ACE Receives Approvals To Close Acquisition

ACE Limited announced that it has received all regulatory approvals needed for closing its acquisition of Chubb, a transaction that will create the world’s largest publicly traded property and casualty insurer. The acquisition, announced on July 1, 2015 and valued at approximately $29.7 billion, based on the closing price of ACE Limited shares and... Read more of this article

ACE Future Leadership Team For North America

ACE Future Leadership Team For North America

ACE Limited announced the future claims leadership team it intends to appoint for the company’s North America Insurance division. The appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of next year. Jeffrey J. Miller will serve as Executive Vice President, Senior Claims Officer, North... Read more of this article

Photos: ACE Observes Global Day Of Service

Photos: ACE Observes Global Day Of Service

ACE Group observed a Global Day of Service on October 23, with the initiative involvinf more than 6,000 ACE employees in 50 countries who participated in approximately 250 volunteer projects focused on education, poverty and health and the environment. ACE said, “The Global Day of Service, a tradition that began in 2005, reflects ACE’s firm... Read more of this article

ACE Names Business Units Leadership Teams

ACE Names Business Units Leadership Teams

ACE Limited announced  the leadership teams it intends to appoint for the company’s North American business units, including National Accounts, Middle Market, Small Commercial, Personal Lines, Wholesale/Excess & Surplus Lines, Bermuda and Agriculture. The company also announced the leadership teams that will have responsibility for all North... Read more of this article

Dominique Richardson Selected As ACE Trainee

Dominique Richardson Selected As ACE Trainee

ACE Group announced that Dominique Richardson has been selected as the 2015 Graduate Trainee. “Dominique joins ACE Bermuda’s Professional Lines department for the two-year ACE Graduate Trainee Programme that prepares students for careers in the insurance industry, complete with business experience and professional designations,” the company... Read more of this article

ACE Limited To Acquire Chubb For $28.3 Billion

ACE Limited To Acquire Chubb For $28.3 Billion

ACE Limited and The Chubb Corporation announced today [July 1] that the Boards of Directors of both companies have unanimously approved a definitive agreement under which ACE will acquire Chubb. The announcement said, “Under the terms of the transaction, Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock. “Based... Read more of this article

ACE Foundation Names 2015 Award Recipients

ACE Foundation Names 2015 Award Recipients

The ACE Foundation–Bermuda today [June 30] announced this year’s Robert Clements/ACE Scholar and ACE/Bermuda College Education Award Recipient. Jacqueline Riley Correia, a recent graduate of the Saltus Grammar School, was selected as the 2015 Robert Clements/ACE Scholar. She will be attending The University of British Columbia in the fall as a designated... Read more of this article

New ACE NorDIC Directors And Officers Policy

New ACE NorDIC Directors And Officers Policy

ACE Bermuda International announced the launch of ACE NorDIC Directors and Officers Liability policy, designed to protect the personal assets of executives and board members of leading companies in the Nordic region. The company said, “The ACE NorDIC Directors and Officers [D&O] liability policy has been designed to complement the company’s... Read more of this article

Ace Select Internship Enters Its Third Year

Ace Select Internship Enters Its Third Year

ACE Group today [June 1] launches the third annual ACE Select insurance focused internship. The 12-week internship provides the students with real world experience and exposure to various insurance business areas. ACE Select interns are given the opportunity to participate in several development workshops to enhance their business and leadership skills.... Read more of this article

A.M. Best Affirms Ratings For ACE Subsidiaries

A.M. Best Affirms Ratings For ACE Subsidiaries

A.M. Best has affirmed the financial strength rating [FSR] of A++ [Superior] and the issuer credit ratings [ICR] of “aa+” of the North American property/casualty subsidiaries of ACE Limited [ACE] [Zurich, Switzerland], ACE Bermuda Insurance Ltd. [ACE Bermuda], ACE Tempest Reinsurance Ltd. [ACE Tempest Re] [both domiciled in Bermuda], the members... Read more of this article

ACE Group Appoints Fletcher, Clabby, Gonsalves

ACE Group Appoints Fletcher, Clabby, Gonsalves

ACE Group today [Apr 20] announced several key executive appointments in its ACE Bermuda business. Rees Fletcher has been named Chairman of ACE Bermuda. Mr. Fletcher joined ACE Bermuda 26 years ago, rising to the position of Senior Vice President, Excess Liability in January 2000. He was promoted to Division President of ACE Bermuda in 2004, and has... Read more of this article

Applications Open For Fellowship Scholarship

Applications Open For Fellowship Scholarship

The Duperreault Fellowship today [Apr 6] invites residents working or studying in the field of substance abuse to apply for funding in support of their continued professional development. The Duperreault Fellowship is an endowment fund established in 2004 when a $500,000 donation contributed by insurance veteran Brian Duperreault and his wife, Nancy,... Read more of this article