ACE Limited and The Chubb Corporation announced on 1 July 2015 that the Boards of Directors of both companies have unanimously approved a definitive agreement under which ACE will acquire Chubb. This transaction brings together two companies with complementary capabilities, assets and geographic footprints.
Further details in relation to this transaction can be found via accessing the following link: http://news.acegroup.com/press-release/corporateglobal/ace-acquire-chubb-283-billion-cash-and-stock?link-loc=banner
This is the third major insurance company merger announced this year and as we have forecasted previously and we expect further consolidations to occur due to the increased competition and premium reductions arising from the continued inflow of new capital into the global insurance marketplace.
As always we will keep you fully appraised of further developments and appropriate strategies to address these changes.