ZURICH--(BUSINESS WIRE)--
The Board of Directors of ACE Limited (NYSE: ACE) today declared a
quarterly dividend equal to $0.65 payable on January 5, 2015, to
shareholders of record at the close of business on December 17, 2014,
subject to a required filing with the Swiss Commercial Register.
Dividend payments will be made in United States dollars (USD) by the
company’s transfer agent.
The company’s par value, currently 25.40 Swiss francs (CHF) per share,
will be reduced in connection with the dividend on the record date by
the CHF equivalent of $0.65 based on the USD/CHF rate published on
December 10, 2014. This will be the third of four par value reduction
installments as approved by the company’s shareholders on May 15, 2014.
The board also announced authorization of a share repurchase of $1.5
billion for calendar year 2015 to replace the current authorization when
it expires December 31, 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:
Forward-looking statements made in this press release, such as
statements regarding dividends and record date, and share repurchases,
reflect the company’s current views with respect to future events 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, statements about
the dividend payment could be affected by any delay in filing or
acceptance of the Swiss Commercial Register filing; and market and
company conditions might lead to a lower volume of share repurchases
than targeted, and expiration of share repurchase authorization without
the entire authorized amount being repurchased. 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