ACE Ltd (ACE) Key Developments | Reuters.com
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ACE Ltd (ACE)

ACE on New York Consolidated

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Latest Key Developments (Source: Significant Developments)

Chubb names regional presidents in Asia Pacific and Latin America
Thursday, 30 Jun 2016 12:35pm EDT 

Chubb Ltd : Chubb announces changes to its regional presidents in Asia Pacific and Latin America; New division president named for company's International Accident & Health Business . Jorge Luis Cazar has been named division president of company's International A&H business . Says Paul McNamee has been named regional president, Asia Pacific .Juan Luis Ortega has been named regional president, Latin America.  Full Article

Chubb hikes annual dividend 3 pct to $2.76/shr
Thursday, 19 May 2016 09:50am EDT 

Chubb Ltd: 3 percent increase in company's dividend to $2.76 annually .Chubb shareholders approve 23rd consecutive annual dividend increase; board declares record date for first dividend installment; all other shareholder proposals approved.  Full Article

Chubb Ltd ( ACE Ltd ) says board will recommend annual dividend increase to shareholders at 2016 annual general meeting
Thursday, 25 Feb 2016 10:50am EST 

Chubb Ltd ( ACE Ltd ):Says will recommend to shareholders at company's 2016 annual general meeting an increase in its quarterly dividend.Proposal calls for a $2.76 annual per share dividend, payable in four installments of $0.69 per share per quarter, compared to the current quarterly dividend amount of $0.67 per share.Board of Directors also declared a quarterly dividend equal to $0.67 per share, payable on April 21 to shareholders of record date as on March 31.  Full Article

ACE Ltd board declares quarterly dividend
Thursday, 19 Nov 2015 01:18pm EST 

ACE Ltd:Declared a quarterly dividend equal to $0.67 per share, payable on Jan. 21, 2016, to shareholders of record at the close of business on Dec. 31.  Full Article

ACE Ltd Prices $5.3 Billion Senior Notes Offering
Tuesday, 27 Oct 2015 04:35pm EDT 

ACE Ltd:Says its subsidiary, ACE INA Holdings Inc, agreed to sell in a public offering $1.3 billion of 2.30 pct senior notes due 2020, $1.0 billion of 2.875 pct senior notes due 2022, $1.5 billion of 3.35 pct senior notes due 2026 and $1.5 billion of 4.35 pct senior notes due 2045.The notes are guaranteed by ACE Limited.The notes are being issued in connection with ACE's pending acquisition of The Chubb Corp.  Full Article

ACE Ltd declares quarterly dividend
Thursday, 13 Aug 2015 08:49am EDT 

ACE Ltd:Declares quarterly dividend equal to $0.67 per share.Payable on Oct. 21, to shareholders of record at the close of business on Sept. 30.  Full Article

ACE to acquire Chubb for $28.3 Billion in Cash and Stock
Wednesday, 1 Jul 2015 07:00am EDT 

ACE Ltd:To acquire Chubb for $28.3 billion in cash and stock.Says transaction immediately accretive to EPS and book value.Says combined company to assume renowned Chubb name.Says combination will have greater growth and earnings than the sum of the two companies separately.Says Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of ACE stock.Says based on the closing price of ACE stock on June 30, 2015, the total value is approximately $124.13 per Chubb share.Says by year three, the transaction will be accretive to EPS on a double-digit basis and will be accretive to roe.Deal value equivalent of $125.87 per Chubb share using ace's 20-day volume weighted average share price.Says ACE intends to finance the cash portion of the transaction through a combination of $9 billion of ACE and Chubb excess cash.Says it is anticipated that the roi will exceed ace's cost of capital within two years, result in a double-digit return by year three.Chubb will continue to operate under its name while the combined company transitions to operate under the Chubb name globally.By third year after closing, expects to realize annual expense savings of about $650 million pre-tax where both companies overlap.Says Morgan Stanley & co llc serving as financial advisor to ACE on deal; guggenheim securities llc serving as financial advisor to Chubb.  Full Article

ACE Ltd completes acquisition of Fireman's fund high net worth personal lines business in U.S.
Wednesday, 1 Apr 2015 01:24pm EDT 

ACE Ltd:Completes acquisition of Fireman's Fund high net worth personal lines insurance business in United States.Says acquisition, announced in Dec. 2014 and valued at $365 million.  Full Article

ACE Ltd announces pricing of $800 million senior notes offering by subsidiary
Monday, 9 Mar 2015 04:15pm EDT 

ACE Ltd:Says its subsidiary, ACE INA Holdings Inc., has agreed to sell $800 mln of 3.15 pct senior notes due March 2025.Notes are guaranteed by ACE Limited.Net proceeds from the sale of the notes plus available cash will be used to repay at maturity $500 mln of the company's 5.70 pct senior notes maturing in Feb. 2017 and $300 mln of the company's 5.80 pct notes maturing in March 2018.Pending such application, the company may make the net proceeds available to its subsidiaries or invest them in marketable securities.Joint book-running managers for the offering are Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC.  Full Article

ACE Ltd declares first quarter 2015 dividend
Thursday, 26 Feb 2015 11:04am EST 

ACE Ltd:Declares a quarterly dividend equal to $0.65 per share.Payable on April 21, to shareholders of record at the close of business on March 31.  Full Article

Fitch Affirms ACE Ltd & Chubb's IFS Ratings Following Acquisition; Downgrades Chubb Holding Company

(The following statement was released by the rating agency) CHICAGO, January 15 (Fitch) Fitch Ratings has affirmed all the ratings for ACE Limited and its subsidiaries (ACE) and the Insurer Financial Strength (IFS) ratings for The Chubb Corporation (Chubb) operating subsidiaries. Fitch has downgraded Chubb's Issuer Default Rating (IDR) to 'A+' from 'AA-' and downgraded all other holding company obligations one notch. The Rating Outlook for all ratings is Stable. A complete list of ratings f