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Fitch downgrades Ace Russia's insurer financial strength rating

By: Mark A. Hofmann

Published August 04, 2014 - 12:31pm CST

Fitch Ratings has downgraded Moscow-based Ace Insurance Co. CJSC's insurer financial strength rating to “BBB” from “BBB+” with a negative outlook, London-based Fitch Ratings Ltd. said Monday.

Property/casualty insurers held strong reserves in first quarter: Report

By: Matthew Lerner

Published July 30, 2014 - 12:47pm CST

Property and casualty insurers continued to show favorable reserve development during the first quarter of 2014, according to an analysis of statutory data by SNL Financial L.C., the company said in a statement Wednesday.

Ace net income down 12.5% in 2nd quarter

By: Matthew Lerner

Published July 22, 2014 - 4:29pm CST

Net income declined 12.5% to $779.0 million at Zurich-based Ace Ltd. as the company's agriculture activities weighed upon results.

Insurers need to adapt to buyers' changing needs: IIS speakers

By: Gavin Souter

Published June 23, 2014 - 2:50pm CST

LONDON — The insurance industry needs to evolve to remain relevant to risk managers and their corporations, a group of industry executives said.

Ace offers global executive risk coverage for multinational firms

By: Kate Shepherd

Published June 12, 2014 - 4:44pm CST

Ace Ltd. has launched a global directors and officers liability insurance proposition for multinational organizations.

Ace's first quarter net income down 23% from same time in 2013

By: Mark A. Hofmann

Published April 29, 2014 - 4:05pm CST

Ace Ltd.'s net income for the first quarter of this year dropped 23.0% over that of the first quarter of 2013 to $734 million, Ace reported Tuesday.

Ace launches global cyber risk practice led by Toby Merrill

By: Kate Shepherd

Published April 04, 2014 - 1:38pm CST

Ace Ltd. has launched its global cyber risk practice, naming Toby Merrill as its leader, the insurer said Friday.

Ace unit ordered to pay $11.3M in environmental liability case defense

By: Judy Greenwald

Published March 28, 2014 - 1:33pm CST

A federal judge in Louisiana has ordered an Ace Ltd. unit to pay an energy company $11.3 million in defense costs and attorneys fees, stemming from an environmental liability policy dispute.

Ace expands environmental crisis management coverage in Europe

By: Kate Shepherd

Published March 18, 2014 - 2:28pm CST

Ace Ltd. has expanded its environmental risk insurance program to add crisis management coverage, the insurer said Tuesday.

Ace USA launches catastrophe liability policy for construction

By: Kate Shepherd

Published February 24, 2014 - 2:50pm CST

Ace USA, a unit of Ace Ltd., has launched the Ace catastrophe liability plus policy for the construction industry, the insurer said Monday.

Ace reports sharp increase in fourth-quarter profit

By: Mark A. Hofmann

Published January 28, 2014 - 4:58pm CST

Ace Ltd. posted fourth-quarter net income of $998 million, up 30.5% from the same period last year, the Zurich-based insurer said Tuesday.

Target has $100M of cyber insurance, $65M of D&O cover: Sources

By: Judy Greenwald

Published January 14, 2014 - 3:05pm CST

Target Corp. has at least $100 million of cyber insurance, including self-insured retentions, and $65 million of directors and officers liability coverage, according to insurance industry sources.

Sandy Weill, ex-Citigroup CEO, tapped to chair Bermuda reinsurer

By: Mark A. Hofmann

Published January 09, 2014 - 4:29pm CST

Sanford I. “Sandy” Weill, former CEO and chairman of Citigroup Inc., has been named chairman of Hamilton Insurance Group Ltd.'s board of directors, Hamilton said Thursday.

Lack of settlement consent relieves Ace in construction claims dispute

By: Judy Greenwald

Published December 17, 2013 - 1:33pm CST

A construction joint venture is not entitled to liability coverage under its Ace American Insurance Co. policies because it failed to first obtain the insurer's consent before settling litigation, as required under those policies, says an appellate court.

Ace launches construction catastrophe claims services

By: Kate Shepherd

Published December 13, 2013 - 2:06pm CST

Ace USA has launched catastrophe claims services designed for the construction industry, the insurer said Friday.

Former Marsh CEO re-emerging to run Bermuda reinsurer

By: Matthew Lerner

Published December 10, 2013 - 12:05pm CST

Brian Duperreault, the high-profile insurance industry leader who led the turnaround of Marsh & McLennan Cos. Inc., is coming out of retirement to run a Bermuda reinsurance firm.

Workplace diversity leads to overall success: Women to Watch panel

By: Matt Dunning

Published December 03, 2013 - 2:57pm CST

NEW YORK — In addition to full-throated support at the top rungs of the corporate ladder, success in promoting workforce diversity requires a companywide culture of inclusiveness and formalized program structuring, according to a panel of senior insurance executives.

Chubb to offer enhanced coverage for travel abroad

By: Kate Shepherd

Published November 27, 2013 - 1:43pm CST

Chubb Corp. is set to offer access to a travel risk management website to its eligible personal, commercial and accident insurance customers.

Ace launches global export coverage for mid-market European firms

By: Kate Shepherd

Published November 27, 2013 - 11:23am CST

Ace Ltd. has launched Ace Global Export Protection, an enhanced risk management program for mid-market companies in continental Europe, the insurer said Wednesday.

Ace names John Lupica vice chairman

By: Mark A. Hofmann

Published November 21, 2013 - 3:38pm CST

John Lupica, who is chairman of insurance for North America at Ace Ltd., has been named to the additional post of vice chairman of the parent and Ace Group Holdings Inc., Ace announced Thursday.

Business Insurance 2013 Buyers Choice Awards recognize service and expertise

By: Rodd Zolkos

Published November 17, 2013 - 6:00am CST

Companies recognized as this year's Business Insurance Buyers Choice honorees are the organizations that buyers of commercial insurance products and services would most often recommend based on attributes those buyers consider most important. Buyers were asked to rank the service and expertise attributes they consider most important in evaluating insurers, brokers and third-party administrators,...

Ace's reliability and responsiveness touted by buyers as key attributes

By: Matt Dunning

Published November 17, 2013 - 6:00am CST

Commercial Liability Service: Ace Ltd.

Ace third-quarter profits up 43.1%

By: Matthew Lerner

Published October 23, 2013 - 12:02pm CST

Zurich-based Ace Ltd. posted third-quarter net income of $916 million, up 43.1% from the same period last year as margins improved in North America and internationally.

Bankruptcy exclusion applies in Ace unit's E&O policy coverage dispute

By: Judy Greenwald

Published September 04, 2013 - 1:57pm CST

An Ace Ltd. unit is not obligated to reimburse a third-party administrator under its errors and omissions policy in a case involving a bankrupt stop-loss insurer because of a policy exclusion for claims arising out of bankruptcy or insolvency.

Ace unit doesn't have to pay Petco in aquarium fire claim: Court

By: Judy Greenwald

Published August 01, 2013 - 2:48pm CST

An Ace Ltd. unit was not obligated to provide coverage or defend Petco Animal Supplies Stores Inc. under terms of its product liability insurance policy for a fire caused by an aquarium heater it sold because the heater did not meet safety standards, an appellate court ruled Thursday.

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