The ACE Group of Companies is one of the world's leading global commercial property and casualty insurance and reinsurance organizations, with 16,000 employees worldwide in offices in more than 50 countries.
ACE serves the property and casualty insurance needs of businesses of all sizes in a broad range of industries. We also provide specialized insurance products—such as personal accident, supplemental health and life insurance—to individuals in select countries. Our reinsurance operations include both property and casualty and life companies.
We take on the responsibility of risk so that our clients can take on the responsibility of making things happen. We call this insuring progress.
ACE Financial Update – Third Quarter 2008
ACE Limited Chief Financial Officer Philip Bancroft provides an overview of the ACE Group’s financial position, invested asset portfolio, and operating performance year-to-date. Watch the webcast or download a pdf of the presentation.
ACE’s Position: The Insurance Industry Doesn’t Need Subsidies
The U.S. Treasury Department is now deliberating on whether to include insurance companies in the $700 billion emergency economic stabilization package approved by Congress. In a series of communications, ACE Chairman and CEO Evan Greenberg explains why it’s a bad idea for the insurance industry and the country.
An op-ed from Mr. Greenberg on this topic appears in the October 31 Wall Street Journal. Mr. Greenberg also recently shared his views in a letter to U.S. Treasury Secretary Henry Paulson.
In addition, Mr. Greenberg issued a statement on behalf of the American Insurance Association stating that the Association does not support the inclusion of property-casualty insurers in the rescue plan.
S&P Reaffirms All ACE Ratings; Outlook Remains Stable
On Friday, October 17, Standard & Poor's issued a press release reaffirming all of ACE's counterparty credit and financial strength ratings. All of the company's S&P ratings, including its A+ Financial Strength rating for the core operating companies, are affirmed and the outlook on all ACE companies remains stable.
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