ZURICH--(BUSINESS WIRE)--
ACE Limited (NYSE: ACE) announced today that the company and its local
partner have acquired, through a mandatory tender offer, an additional
32.17% in The Siam Commercial Samaggi Insurance PCL ("SCSMG"), a major
general insurance company in Thailand. ACE and its local partner now own
93.03% in SCSMG including a 60.86% stake acquired from The Siam
Commercial Bank PCL on April 28, 2014.
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 press release related to
ACE's share purchase of Siam Commercial Samaggi Insurance PCL and tender
offer, 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. Such statements involve risks and
uncertainties, which may cause actual results to differ materially from
those set forth in these statements. For example, ACE’s forward-looking
statements related to Siam Commercial Samaggi Insurance PCL and the
anticipated purchase transaction and tender offer could prove incorrect
if the transaction were to not close, if Siam Commercial Samaggi
Insurance PCL were to perform differently than currently expected by ACE
or if expense-related efficiencies are not realized. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the dates on which they are made. The
company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: ACE Limited