Ace Ltd has announce it is acquiring Mexican personal lines insurer ABA Seguros from Ally Financial for approximately $865 million in cash.Ally Financial, an American auto lender which is 74 percent owned by the US government, announced plans in May to sell off its international operations in an effort to speed up repayment to US taxpayers.ABA Suguros is Mexico’s sixth-largest property and casualty (P&C) insurer and provides auto, homeowners and small business coverages.The deal comes on the heels of Ace’s $285 million acquisition of Fianza Monterrey, the second largest surety underwriter in Mexico, which was announced last month.The ABA Seguros purchase price was more than double the unit’s June 30 book value of $399 million. The acquisition should close in the first half of 2013 and add to Ace’s earnings in the first year, the company said.Ace chairman and CEO Evan Greenberg said the acquisitions meant Ace was extremely well positioned to take advantage of the many growth opportunities it believes are available in Mexico.Zurich-based Ace has recently been expanding in emerging markets through acquisitions.The company, which lost the race for HSBC’s $1 billion general life insurance business in March, also acquired Indonesian general insurer PT Asuransi Jaya Proteksi for about $130 million in June.Shares of Ace yesterday closed up three percent at $$81.70 on the New York Stock Exchange.