Insurance Market Update
In one of the largest transactions in insurance industry history, ACE Insurance Company has purchased Chubb Insurance Group for $28.3 Billion in a cash and stock deal. Combined revenues for both companies will be in excess of $31 Billion annually. Additionally, the combined companies will have shareholder equity of nearly $46 Billion and cash, investments and other assets totaling $150 Billion.
The new combined company will operate under the Chubb name globally in the coming months.
For existing policyholders there aren’t any immediate impacts outside of additional balance sheet protection. We will continue to monitor the situation and keep all our insured’s up to speed with any updates as they become available.
Thanks!
Your team at Iron Cove Partners | Whitmore Group
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