ADVFN - Advanced Financial Network.
HOME» NYSE » A » ACE Stock Price » ACE Stock News

Ace Share News

 Ace, Ltd. Stock Price
ACE Stock Price
 Ace, Ltd. Stock Chart
ACE Stock Chart
 Ace, Ltd. Stock News
ACE Stock News
 Ace, Ltd. Company Information
ACE Company Information
 Ace, Ltd. Stock Trades
ACE Stock Trades

Malaysia's Jerneh Insurance To Be Sold To ACE For MYR654 Million

KUALA LUMPUR -(Dow Jones)- U.S. insurer ACE Ltd. (ACE) has agreed to buy Malaysian non-life insurer Jerneh Insurance Bhd for MYR654 million, the owners of the Malaysian company said in a stock exchange filing Tuesday. Jerneh Asia Bhd. (6394.KU) and Paramount Corporation Bhd. (1724.KU), which own 80% and 20% of Jerneh Insurance respectively, said in a stock exchange filing that the Finance Ministry has approved the sale to ACE INA International Holdings, a unit of ACE Group. The companies said further details will be announced after they sign a definitive agreement on the sale. The planned sale of Jerneh Insurance makes the company the latest in a series of insurers that have recently sought tie-ups with foreign partners as consolidation in the country's crowded insurance industry gathers pace. Hong Leong Financial Group Bhd. (1082.KU), PacificMas Bhd. (4782.KU) and Pacific & Orient Bhd. (6009.KU) are among major Malaysian insurance companies that have either concluded deals or are in negotiations with foreign partners. The price tag for Jerneh Insurance valuing it at two times book value is within market expectations, analysts said. "This transaction provides a good strategic fit and complements our current presence in Malaysia," Evan G. Greenberg, the chairman and chief executive of ACE, said in a separate statement. "The addition of Jerneh Insurance Berhad will be accretive to ACE's earnings and book value per share and will meet our return-on-capital hurdle rate." -By Benjamin Low, Dow Jones Newswires; 603-2026-1233; benjamin.low@dowjones.com

Stock News for Ace (ACE)
DateTimeHeadline
01/29/201409:39:35U.S. Hot Stocks: Hot Stocks to Watch
01/12/201422:19:24ACE to Acquire Majority of Siam Commercial Bank's Non-Life Insurance...
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:17:55OZ Management LP 3Q 13F: Largest Sales
11/15/201309:01:37HBK Investments LP 3Q 13F: Largest Eliminations
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Purchases
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Sales
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Eliminations -2-
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: -2-
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: Holdings As Of Sep...
11/15/201307:59:25Soros Fund Management 3Q 13F: Largest Purchases
11/15/201307:59:24Soros Fund Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:59:24Soros Fund Management 3Q 13F: Holdings As Of Sep -2-
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
11/15/201307:07:30Two Sigma Investments 3Q 13F: Largest Eliminations
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Sales
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Purchases
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Eliminations -2-

Ace Limited and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad