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Key Developments: ACE Ltd (ACE)

ACE on New York Consolidated

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Latest Key Developments (Source: Significant Developments)

ACE receives all regulatory approvals needed to close acquisition of large corporate P&C Insurance Business of Itaú Seguros
Tuesday, 21 Oct 2014 08:45am EDT 

ACE Ltd:Receives all regulatory approvals needed for closing its acquisition of the large corporate property and casualty (P&C) business of Itaú Seguros, S.A. from Itaú Unibanco S.A.Acquisition valued at about $630 mln at current exchange rates, is now expected to close on Oct. 31.Transaction is expected to be accretive to earnings immediately.  Full Article

ACE Ltd creates new distribution and client management unit in Asia Pacific
Wednesday, 15 Oct 2014 06:00am EDT 

ACE Ltd:Says creation of new unit to focus solely on execution of distribution strategies across Asia Pacific region.Enabling high-level and efficient conduit between ACE and its distribution partners throughout vast territory stretching from South Korea to Australia and New Zealand.Says this unit will focus on maximizing ACE's product offering including portfolio-based solutions, facilities, joint product design and execution initiatives with key brokers in region.Additionally, unit will serve unique needs of ACE's large clients domiciled in Asia Pacific with ultimate mission to ensure efficient trading across all commercial lines of business.  Full Article

ACE Ltd declares quarterly dividend
Thursday, 14 Aug 2014 09:20am EDT 

ACE Ltd:Declares quarterly dividend equal to $0.65 payable on Oct. 21, to shareholders of record at the close of business on Sept. 30.  Full Article

ACE Ltd to acquire large corporate P&C Insurance Business of Itaú Seguros
Friday, 4 Jul 2014 09:01am EDT 

ACE Ltd:To acquire large corporate property and casualty (P&C) business of Itaú Seguros, S.A. from Itaú Unibanco S.A.Says for about $685 mln.Upon completion of the transaction, ACE, which has a longstanding presence in Brazil, will be commercial P&C insurer in Latin America.  Full Article

ACE Ltd announces the results of its tender offer for Siam Commercial Samaggi Insurance in Thailand
Tuesday, 24 Jun 2014 07:23am EDT 

ACE Ltd:Says that company and its local partner have acquired, through mandatory tender offer, an additional 32.17 pct in The Siam Commercial Samaggi Insurance PCL (SCSMG), general insurance company in Thailand.ACE and its local partner own 93.03 pct in SCSMG including 60.86 pct stake acquired from The Siam Commercial Bank PCL on April 28, 2014.  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

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