I. Background of ACE Group Holdings, Inc.
1. About ACE Group Holdings, Inc.
The ACE Group is one of the world’s largest providers of commercial property and casualty insurance and reinsurance, with $78 billion in assets and $19 billion of gross written premiums in 2009.
With its core operating insurance companies rated AA- for financial strength by Standard & Poor’s and A+ by A.M. Best, the ACE Group is distinguished by its underwriting expertise, superior claims handling and global franchise, which includes offices in more than 50 countries and clients in over 170 countries.
The insurance companies of the ACE Group serve a diverse range of clients: multinational corporations and local businesses with property and casualty exposures; companies and affinity groups looking to provide or offer accident and health insurance programs and life insurance to their employees or members; insurers seeking reinsurance coverage; and individuals purchasing life, personal accident, supplemental health and high-valued homeowners, automobile, and umbrella insurance.
ACE Limited, the Swiss-incorporated parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 stock index. The ACE Group maintains executive offices in Zurich, Bermuda and New York, among other locations, and employs more than 15,000 people worldwide.
2. Business Structure
ACE is represented around the world by a collection of market-leading franchises.
ACE USA is the company’s retail broker-distributed business serving North America with an extensive portfolio of traditional and specialty commercial P&C and A&H insurance products. Headquartered in Philadelphia, ACE USA has a strong corporate customer franchise with both Fortune 1000 corporations and growing middle-market and small businesses.
ACE International is the company’s retail broker-distributed business serving territories outside... [continues]
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