ACE Ltd. to sell $1.3 billion in shares
October 4, 2005 by Canadian UnderwriterACE Limited (NYSE: ACE) is selling 28 million of its ordinary shares at a price of $45.58 per share in a public offering expected to raise gross proceeds of more than $1.3 billion.ACE has also granted to underwriters an option…
The Future of U.S. Property and Casualty Insurance Industry: Six Feet Under?
May 1, 2003 Sean van Zyl, EditorThe popular Charles Dickens quotation, “it was the best of times, it was the worst of times,” would seem to aptly apply when analyzing the financial performance of the North American property and casualty insurance industry over recent years. In fact, the quotation could well be the industry’s tombstone inscription based on analyst, broker, risk management and senior industry management perspectives presented at the National Insurance Leadership Symposium, which was recently held in San Francisco. Looking ahead, analysts and company CEOs predict increased financial volatility as capital continues to hemorrhage from the industry at both the primary and reinsurance levels as a result of ongoing underwriting losses, adverse reserving adjustments and the plummeting value of investment holdings. Does the traditional p&c insurance industry have a future?
ACE and Silverstein reach WTC settlement
February 18, 2002 by Canadian UnderwriterACE Bermuda Insurance Ltd., a subsidiary of the ACE Ltd. (NYSE: ACE) group, has agreed to settle its property insurance claim with Silverstein Properties Inc., owners of the World Trade Center (WTC) buildings devastated during the September 11 terrorist attacks.…
Aces high
February 1, 1999 by Canadian UnderwriterBermuda-based ACE Ltd., listed on the NYSE, has acquired the global property and casualty insurance operations of CIGNA Corporation for US$3.45 billion. Subject to regulatory approval by the end of June this year, the deal will be cash financed which…