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ACE Acquires Chubb

July 1, 2015

This morning the newswires reported that ACE will acquire Chubb in a $28.3 billion cash and stock purchase.We are appointed with both insurers and have a great deal of respect for both companies and for their commitment to personal lines insurance. That said, this news is a surprise because ACE agreed to purchase the renewal rights to the Fireman’s Fund book of business in December 2014 and Chubb personal lines will be a massive consolidation on top of that. We will update you as we learn more. As independent agents our responsibility continues to be our insureds and we will work to ensure that they are properly represented during the period of transition.