ACE acquires Chubb

The Swiss group ACE has just purchased the American non life insurer Chubb.
The transaction amounting to 28.3 billion USD should lead to the emergence of a major player specialised in property and liability insurance for companies and individuals.

Chubb will keep its name and its headquarters which is based in Zurich. The company already operating in 25 countries, recorded in 2014 a net premium volume of 12.6 billion USD.

As for the purchaser ACE, with a presence in 54 countries, it posted meanwhile, net premiums of 17.8 billion USD during the same period.