The option to purchase the additional shares was granted in connection with the public offering of shares of ACE Limited on October 3, 2005. This action raises the total number of shares purchased through the offering to 32,909,170 shares at a price per share of $45.58, for total gross proceeds of $1.5 billion.
ACE expects to use the net proceeds of the offering for growth opportunities in the global insurance and reinsurance markets.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A shelf registration statement relating to the ordinary shares that ACE intends to offer, has previously been filed with, and declared effective by, the Securities and Exchange Commission. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: http://www.acelimited.com.