News Releases

ZURICH--(BUSINESS WIRE)--ACE Limited (NYSE: ACE) announced today the leadership team it intends to appoint for the company’s Canadian operations. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of 2016.

The company’s Canadian operations will offer a broad range of property, casualty, high net worth personal lines and accident and health products to Canada-based customers served by brokers and agents.

As previously announced, Ellen J. Moore will serve as Senior Vice President, North America Insurance, and Regional Executive Officer, Canadian Operations. Ms. Moore is currently Senior Vice President and Canadian Zone Officer of Chubb & Son and President and CEO of the Chubb Insurance Company of Canada. She will report to Harold L. Morrison, Jr., who will serve as Senior Vice President of the new Chubb Group and Division President, Field Operations, for the North America Insurance division. Reporting to Ms. Moore and serving as Regional Chief Operating Officer will be Andy Hollenberg. Mr. Hollenberg is currently Country President, Canada, ACE Group.

Business Unit Leadership

The business unit leaders in Canada will be:

• Paul Johnstone will lead Personal Risk Services and report to Ms. Moore. Mr. Johnstone is currently Senior Vice President, Chubb Personal Insurance, Canada.
• Terri Mitchell will lead Accident, Health and Life Insurance and report to Mr. Hollenberg. Ms. Mitchell is currently Executive Vice President and Chief Operating Officer for ACE in Canada.
• Ana Robic will lead Commercial Insurance and report to Ms. Moore. Ms. Robic is currently Senior Vice President, Chubb Commercial Insurance, Canada.
• Bobbie Goldie will lead Major Accounts and report to Ms. Moore. Ms. Goldie is currently Vice President, Professional Risk for ACE in Canada.

Professional Lines, Regional Field and Marketing Leadership

• Cameron Rose will lead Professional Lines and support both the Major Accounts and Commercial Insurance divisions. Mr. Rose will report to Ms. Moore. Mr. Rose is currently Senior Vice President, Chubb Specialty Insurance, Canada.
• Jean Bertrand will lead the Montreal branch and report to Mr. Hollenberg. Mr. Bertrand is currently Senior Vice President, Montreal Branch Manager for Chubb.
• Michel Rousseau will lead the Calgary branch and report to Mr. Hollenberg. Mr. Rousseau is currently Senior Vice President, Western Region Manager for Chubb.
• Anne Barnes will lead the Vancouver branch and report to Mr. Hollenberg. Ms. Barnes is currently Vice President, Vancouver Branch Manager and Western Region Specialty Lines Manager for Chubb.
• Steve Lucas will lead Marketing and Business Development and report to Ms. Moore. Mr. Lucas is currently Vice President, National Account Marketing, for ACE in Canada.

“Andy and I are excited about creating the new Chubb organization in Canada that will provide our brokers and clients the best of two outstanding companies. The combination of our products, field presence and service offering will contribute to our leadership momentum in the Canadian market,” said Ms. Moore.

“I am delighted to announce this remarkably strong team from both ACE and Chubb to lead our Canadian operations,” said Mr. Morrison. “These individuals are established leaders in their fields and well respected in the Canadian market. I have every confidence in their experience, commitment and ability to drive the success of our new organization.”

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. Additional information can be found at: www.acegroup.com.

Cautionary Statement Regarding Forward-Looking Statements

All forward-looking statements made in this communication, related to the acquisition of Chubb, potential post-acquisition performance or otherwise, reflect ACE’s current views with respect to future events, business transactions and business performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “may,” “will,” “should,” ”expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” “could,” “future,” “project” or other words of similar meaning. All forward-looking statements involve risks and uncertainties, which may cause actual results to differ, possibly materially, from those contained in the forward-looking statements.

Forward-looking statements include, but are not limited to, statements about the benefits of the proposed transaction involving ACE and Chubb, including future financial results; ACE’s and Chubb’s plans, objectives, expectations and intentions; the expected timing of completion of the transaction and other statements that are not historical facts. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, without limitation, the following: the inability to complete the transaction in a timely manner; the failure to satisfy other conditions to completion of the transaction, including receipt of required regulatory approvals; the failure of the proposed transaction to close for any other reason; the possibility that any of the anticipated benefits of the proposed transaction will not be realized; the risk that integration of Chubb’s operations with those of ACE will be materially delayed or will be more costly or difficult than expected; the challenges of integrating and retaining key employees; the effect of the announcement of the transaction on ACE’s, Chubb’s or the combined company’s respective business relationships, operating results and business generally; the possibility that the anticipated synergies and cost savings of the merger will not be realized, or will not be realized within the expected time period; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; general competitive, economic, political and market conditions and fluctuations; and actions taken or conditions imposed by the United States and foreign governments and regulatory authorities. In addition, you should carefully consider the risks and uncertainties and other factors that may affect future results of the combined company described in the section entitled “Risk Factors” in the joint proxy statement/prospectus dated September 11, 2015, that was delivered to ACE’s and Chubb’s respective shareholders, and in ACE’s and Chubb’s respective filings with the Securities and Exchange Commission (“SEC”) that are available on the SEC’s website, located at www.sec.gov, including the sections entitled “Risk Factors” in ACE’s Annual Report on Form 10–K for the year ended December 31, 2014, which was filed with the SEC on February 27, 2015, and “Risk Factors” in Chubb’s Annual Report on Form 10–K for the year ended December 31, 2014, which was filed with the SEC on February 26, 2015. You should not place undue reliance on forward-looking statements, which speak only as of the date of this communication. ACE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.