Last Updated: October 28, 2015
Information on the Proposed Acquisition of Control of Pacific Indemnity Company (Wisconsin Domestic Insurer) by ACE Limited (ACE), ACE Group Holdings, Inc. (ACE Group Holdings), and ACE INA Holdings Inc. (ACE INA) [Collectively, the Applicant]
On August 14, 2015, the Applicant filed a plan to acquire control of Pacific Indemnity Company, pursuant to the terms and conditions set forth in the Merger Agreement by and between ACE Limited and The Chubb Corporation (Chubb) (the ultimate parent company of the Wisconsin Domestic Insurer) dated June 30, 2015.
Pursuant to the Merger Agreement, the Applicant will acquire all outstanding shares of Chubb for a combination of cash and stock valued at $28.3 billion (or approximately $124.13 per Chubb share).
ACE is a publicly traded Swiss-domiciled international holding company and the ultimate parent company of the ACE group. Through its insurance and reinsurance subsidiaries, ACE serves commercial and individual customers in more than 170 countries. The group offers commercial insurance products, specialized insurance products (e.g., aviation and energy), personal lines products, as well as other services (such as risk management). The group also offers personal accident, supplemental health, and life products to individuals in select countries. ACE Group Holdings and ACE INA are Delaware-domiciled holding company subsidiaries of ACE.
The Chubb Corporation is a publicly traded New Jersey holding company and the ultimate parent company of the Chubb group. Through its subsidiaries, Chubb is one of the leading providers of property and casualty insurance in the United States. Globally, the group serves customers in 26 countries, with operations distributed throughout North America, Europe, South America, and the Pacific Rim.
Pacific Indemnity Company is a Wisconsin-domiciled stock property and casualty insurer and an indirect wholly owned subsidiary of The Chubb Corporation. Pacific Indemnity is licensed in all 50 states plus the District of Columbia.
Notations on Accessing Information
Financial information concerning individual insurance companies, including key annual statement pages, may be accessed on the Consumers Information Source section of the National Association of Insurance Commissioners' Web site at http://www.naic.org/cis/.
Form A and Exhibits, Filed with the Wisconsin OCI on August 14, 2015
Wisconsin OCI Form A Follow-up Letters
Applicant Response Letters and Attachments
Wisconsin OCI Recommendation Memo