ACE Announces Pricing of $5.3 Billion Senior Notes Offering for Chubb Acquisition

ZURICH--()--ACE Limited (NYSE: ACE) announced today that its subsidiary, ACE INA Holdings Inc., has agreed to sell in a public offering $1.3 billion of 2.30% senior notes due 2020, $1.0 billion of 2.875% senior notes due 2022, $1.5 billion of 3.35% senior notes due 2026 and $1.5 billion of 4.35% senior notes due 2045. The notes are guaranteed by ACE Limited. The notes are being issued in connection with ACE’s pending acquisition of The Chubb Corporation (“Chubb”).

ACE intends to use the net proceeds from this offering plus available cash sourced from certain of its subsidiaries and certain of Chubb’s subsidiaries to fund the cash portion of the merger consideration.

The joint book-running managers for the offering are Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any sale of the senior notes or any other securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus supplement and accompanying prospectus. When available, copies of these documents may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, New York, N.Y. 10014, Attention: Prospectus Department, by email: prospectus@morganstanley.com or by calling 1-866-718-1649; J.P. Morgan Securities LLC at 383 Madison Avenue, New York, N.Y. 10179, Attention: Investment Grade Syndicate Desk – 3rd floor or by calling 1-212-834-4533; or Citigroup Global Markets Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, N.Y. 11717, by email: prospectus@citi.com or by calling 1-800-831-9146.

Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov.

About ACE Group

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.

Contacts

ACE Limited
Media: Jeffrey Zack, 212-827-4444, jeffrey.zack@acegroup.com
Investors: Helen Wilson, 441-299-9283, helen.wilson@acegroup.com

Contacts

ACE Limited
Media: Jeffrey Zack, 212-827-4444, jeffrey.zack@acegroup.com
Investors: Helen Wilson, 441-299-9283, helen.wilson@acegroup.com