Login Register Subscribe
Current Issue


BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

FTC OKs Ace's acquisition of Chubb


The Federal Trade Commission has given its approval to Ace Ltd.'s acquisition of Chubb Corp.

In a document dated Thursday filed with the Securities and Exchange Commission, Ace said that on Wednesday, it had “received notice from the U.S. Federal Trade Commission that it had granted early termination, effective immediately of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for Ace's pending acquisition of the Chubb Corp.

Ace noted that while the FTC's action satisfied one of the conditions to the closing of the transaction, the deal must meet other customary closing conditions, including shareholder and regulatory approvals.

Ace announced in July that it would buy Chubb for $28.3 billion in cash and stock and that the new company would take the Chubb name. The transaction is expected to close early next year.