climb this week, after the announcement late on Thursday of its acquisition of a US insurance group ( The Royal Gazette , Sept. 22).

ACE shares traded as high as $98.25 yesterday morning, $10.25 higher than the closing price a week ago. At that time, the previous closing high for the stock had been $88.50.

The stock activity came after ACE announced a definitive agreement to buy Atlanta-based Westchester Specialty Insurance Group for $333 million in cash, providing a doorway to the development of a significant US-based insurance business for the Bermuda insurer.