Ace adopts Chubb name

ACE Limited announced that it has completed its acquisition of Chubb, creating a publicly traded property and casualty insurance company. ACE paid approximately USD29.5 billion in the aggregate in cash and stock, based on the most recent closing price of ACE Limited shares and the number of outstanding shares of The Chubb Corporation common stock at the time of closing.

Effective immediately, ACE is adopting the Chubb name globally and the company will begin trading on the New York Stock Exchange. The company is also formally launching the new Chubb brand, including its visual identity and signature.