A new wave of interrelated, fast-changing risks, reflecting rapid changes in the global economic landscape and the increasing role of technology and multinational expansion as growth drivers, tops the list of concerns for businesses across Europe, the Middle East and …
Evan Greenberg extended an acquisition spree at his Ace Ltd. by agreeing to purchase Chubb Corp. for $28.3 billion in cash and stock. Ace will own 70 percent of the company after the transaction closes, and Greenberg will lead the …
Cyber attacks and data breach triggers are changing as are the risk management strategies to address them, according to ACE Group. The company released the changes and their impact on forensics costs. “Our claims and underwriting data demonstrates that the …
Ace Ltd. agreed to buy Allianz SE’s Fireman’s Fund unit serving wealthy clients to expand insurance of luxury homes, yachts and art collections as the seller narrows its focus in the U.S. Ace will pay $365 million in the deal, …
The ACE Group named Derek Talbott division president, North America Property & Specialty Lines. Based in Philadelphia, Talbott will have responsibility for managing ACE’s property-related products and services across the company’s North American retail and wholesale franchises: ACE USA, ACE …
The ACE Group appointed Jarrod Hill executive vice president and head of International Property for ACE’s Overseas General business, effective September 1, 2013. In this role, he will have responsibility for all of ACE’s retail commercial property insurance business in …
ACE Limited has completed the acquisition of Fianzas Monterrey in Mexico from New York Life Insurance Company for approximately $293 million in cash. Mexico City-based Fianzas Monterrey is the nation’s second-largest surety lines writer and the third-largest in Latin America, …
The ACE Group announced the appointment of Chris Maleno as division president, ACE USA. In this role, Maleno will oversee all operations for ACE’s U.S.-based retail commercial property and casualty franchise. He will report to John Lupica, chairman, Insurance-North America. …
ACE Limited announced preliminary losses in the fourth quarter for the ACE Group of companies attributable to Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax, net of reinsurance and including reinstatement premiums. …
ACE Limited announced the acquisition of ABA Seguros in Mexico from Ally Financial Inc. for approximately $865 million in cash. Established in 1958, ABA Seguros is Mexico’s sixth-largest property/casualty insurer and provides auto, homeowners and small business coverages. Based in …