Key Developments: ACE Ltd (ACE)
90.16USD
18 Jun 2013
$0.65 (+0.73%)
$89.51
$89.63
$90.20
$89.51
913,828
1,464,186
$93.05
$68.98
Latest Key Developments (Source: Significant Developments)
ACE Ltd Approve 4% Increase In Quarterly Dividend
ACE Ltd announced that its shareholders have approved all matters submitted to the ACE Limited 2013 Annual General Meeting, held at the Company`s offices in Zurich, Switzerland, including a 4% increase to the Company`s quarterly dividend to $2.04 annually ($0.51 per quarter) per share. Board of Directors declared that shareholders of record at the close of business on July 23, 2013, will be entitled to payment of the first of such installments, subject to a required filing with the Swiss Commercial Register. This dividend payment will be made in U.S. dollars on August 13, 2013, by the company`s transfer agent. Full Article
ACE Ltd Issues FY 2013 EPS Guidance Below Analysts' Estimates
ACE Ltd announced that for fiscal 2013, it expects after-tax operating income in the range is $7.10 to $7.50 per share. This includes estimated catastrophe losses of $330 million after tax for the second through fourth quarters. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $7.85 for fiscal 2013. Full Article
ACE Ltd Announces Pricing Of $950 Million Senior Notes Offering By Subsidiary
ACE Ltd announced that its subsidiary, ACE INA Holdings Inc., has agreed to sell $475 million of 2.70% senior notes due March 2023, and $475 million of 4.15% senior notes due March 2043. The notes are guaranteed by ACE Limited. The net proceeds from the sale of the notes will be used to repay at maturity $500 million of the Company's 5.88% senior notes maturing in June 2014 and $450 million of its 5.60% senior notes maturing in May 2015. Pending such application, the Company may make the net proceeds available to its subsidiaries or invest them in marketable securities. The joint book-running managers for the offering are Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Mitsubishi UFJ Securities (USA), Inc. and Deutsche Bank Securities Inc. Full Article
ACE Limited Declares First Quarter Dividend
ACE Limited announced that it will recommend to shareholders at the Company`s 2013 Annual General Meeting a 4% increase in its quarterly dividend. The proposal calls for a $2.04 annual dividend, payable in four installments of $0.51 per quarter, compared to the current quarterly dividend amount of $0.49. The Board of Directors also declared a quarterly dividend equal to $0.49 payable on April 12, 2013, to shareholders of record at the close of business on March 28, 2013, subject to a required filing with the Swiss Commercial Register. Dividend payments will be made in United States dollars (USD) by the Company`s transfer agent. The Company`s par value is currently 28.89 Swiss francs (CHF) per share, and in connection with this dividend installment, the par value per share will be reduced on the record date by the CHF equivalent of $0.49 based on the USD/CHF rate published on March 22, 2013. This will be the fourth of four par value reduction installments as approved by the Company`s shareholders on May 16, 2012. Full Article
ACE Limited Issues FY 2013 EPS Guidance Below Analysts' Estimates
ACE Limited announced that for fiscal 2013, it expects operating income to range between $6.60 and $7.00 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $7.89 for fiscal 2013. Full Article
ACE Limited Narrows FY 2012 EPS Guidance To A Range Below Analysts' Estimates-Conference Call
ACE Limited announced that for fiscal 2012, it expects EPS in the range of $7.43 to $7.53 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $7.63 for fiscal 2012. Full Article
ACE Limited Announces Accelerated Payment Date for Regular Quarterly Dividend
ACE Limited announced that it approved a change in the payment date of its upcoming regular quarterly dividend. The dividend equal to $0.49 will be payable on December 28, 2012 (instead of January 7, 2013, as previously announced), to shareholders of record at the close of business on December 17, 2012 (as previously announced), subject to a required filing with the Swiss Commercial Register. Full Article
ACE Limited Declares Quarterly Dividend
ACE Limited announced that it has declared a quarterly dividend equal to $0.49 payable on January 7, 2013, to shareholders of record at the close of business on December 17, 2012, subject to a required filing with the Swiss Commercial Register. Dividend payments will be made in United States dollars (USD) by the Company’s transfer agent. Full Article
ACE Limited Acquires 80% of Asuransi Jaya Proteksi in Indonesia
ACE Limited announced that the Company has acquired 80% of PT Asuransi Jaya Proteksi in Indonesia. Jakarta-based Asuransi Jaya Proteksi is one of Indonesia’s general insurers and is in personal lines. The company offers property, motor, accident and health insurance as well as commercial insurance coverages such as marine cargo and liability insurance and has an distribution system throughout Indonesia, including a network of branch offices, partnerships with local banks and multi-finance companies, and relationships with brokers and agents. Financial terms of the transaction were not disclosed. Full Article
ACE Limited Declares Quarterly Dividend
ACE Limited announced that the Board of Directors declared a quarterly dividend equal to $0.49 payable on October 19, 2012, to shareholders of record at the close of business on September 28, 2012. Full Article
Fitch Assigns ACE INA Overseas Insurance Co. Ltd. 'AA' IFS
(The following statement was released by the rating agency) CHICAGO, May 31 (Fitch) Fitch Ratings has assigned its 'AA' Insurer Financial Strength (IFS) rating to ACE INA Overseas Insurance Company Ltd. (AIOIC), a Bermuda domiciled, indirect wholly owned insurance subsidiary of ACE Limited (ACE). The Rating Outlook is Stable. A complete list of all ACE ratings follows at the end of this release. KEY RATING DRIVERS The rating rationale is based on AIOIC's position within ACE's organization
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