Ace Ltd yesterday announced today the completion of its acquisition of Penn Millers Holding Corporation (PMHC) for approximately $107 million in cash.PMHC’s primary insurance subsidiary, Penn Millers Insurance Company, provides specialty property and casualty insurance coverage to companies that manufacture, process and distribute agricultural products.Based in Wilkes-Barre, Pennsylvania, the company has served the agribusiness market since 1887 and operates in 34 states.“We are pleased to complete this transaction, which provides us with an established, specialty niche business and offers us the opportunity to expand our substantial agricultural market capabilities offered through our Rain and Hail crop insurance and Ace Westchester excess and surplus lines businesses,” said Brian Dowd, office of the chairman, Ace Ltd.