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Insurance firm Ace has agreed to buy out a major US-based insurer in a $28.3 billion deal. The move means Ace, which has an office in Bermuda, will have a 70 per cent stake in New Jersey-based Chubb after the deal closes. The new firm will use the Ch...

Insurance and reinsurance giant Ace has launched its 12-week summer intern programme. A total of six students are to join the firm for the Ace Select scheme, now in its third year. Ace Bermuda chief administration officer Samantha Froud said: “We are...

The Ace Foundation has congratulated intern and scholarship recipient Andrew Fleming on achieving another academic milestone. He is the 2015 valedictorian at Mount Sant Vincent University in Halifax, Canada. Mr Fleming has maintained a perfect GPA gr...

Insurance giant Ace yesterday posted first quarter profits of $681 million — down $53 million on the same period last year. The firm reported operating after-tax operating income of $745 million for the three months to the end of March, down 4.2 per ...

Global insurer Ace has appointed Bermudian Rees Fletcher as chairman of its Island arm. Mr Fletcher’s new role is one of three promotions at the firm, with Joseph Clabby, who previously worked for Ace in Europe, stepping up to Mr Fletcher’s previous ...

Ace Ltd and BlackRock yesterday said they have launched their new Bermuda-based joint reinsurance venture ABR Reinsurance Ltd. The two firms announced late yesterday that they had raised about $800 million through a private placement to get the new v...

Ace Ltd is teaming up with BlackRock Financial Management, the world’s largest money manager, to create a new Bermuda-based reinsurance venture. The companies are seeking to raise between $800 million and $1.3 billion for the new business, named ABR ...

Two young Bermudians have been taken on as graduate trainees by Ace Bermuda, part of the Ace Group. James Chiappa and Richard Voaden will be part of the company’s Bermuda-based insurance operations. The pair follow in the footsteps of previous Bermud...

A subsidiary of Ace Group is offering additional director and officers (D&O) liability coverage for multinational companies that are based outside North America. It has launched the enhanced options through Ace’s Syndicate 2488 at Lloyd’s of London, ...

Global insurer Ace Ltd last night reported record full-year operating earnings of $3.3 billion. But the strength of the US dollar had a negative impact on the growth of premium revenues and book value per share, chief executive officer Evan Greenberg...

Ace Ltd chief executive officer Evan Greenberg has described the US Congress as “irresponsible” for adjourning without renewing a US Government programme to backstop terrorism insurance losses. TRIA (the Terrorism Risk Insurance Act) is due to expire...