Chubb Insurance Acquisition
Posted on July 1, 2015
Chubb Insurance has agreed to be acquired by ACE Limited. This transaction brings together two insurance companies with complementary capabilities, assets and geographic footprints. This is especially great news for you, our clients, as the combined company will be financially stronger, with an enhanced global presence, a wider range of product offerings and greater financial resources.
Importantly, the combined company will adopt the Chubb name—a clear indication of ACE’s respect for the Chubb brand and the attributes and heritage of quality and service it represents.
ACE is one of the world’s largest multiline property and casualty insurers. With $30 billion in capital and operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE maintains executive offices in Zurich, Bermuda and New York, among other locations, and employs approximately 21,000 people worldwide, including 10,000 employees in 170 offices in North America.
Chubb appreciates and respects their relationships with loyal policyholders like you and remains committed to ensuring that all of their work will continue at the same extremely high “Chubb” standards. Both Chubb and ACE have great people. As we begin the process of integrating the two companies, which will fully take place in 2016, we will evaluate your insurance portfolio and make appropriate recommendations to you. Our initial observation, based on our long time relationships with both Chubb and ACE is that you can rest assured that you will continue to be serviced by the best people in the industry.
Again, until the transaction closes, it is business as usual, as both Chubb and ACE will continue to operate as two separate companies. We are excited about moving forward as a larger, stronger, more global company while at the same time maintaining the highest quality coverages, outstanding claim service, thought leadership and industry-leading loss control and appraisal services you have come to expect from us. We will keep you informed as they move toward completing this transaction.
Thank you for your ongoing support of Aronson Insurance and our insurer partner, Chubb.
Steve