ACE Appoints John Keogh Executive Vice Chairman and Chief Operating Officer
November 19 2015 - 2:26PM
Business Wire
ACE Limited (NYSE: ACE) announced today that John Keogh, Vice
Chairman and Chief Operating Officer, has been appointed Executive
Vice Chairman of the company. Mr. Keogh will continue to serve as
Chief Operating Officer with responsibility for all property and
casualty (P&C) insurance operations of the company globally.
The appointment is effective immediately and will continue upon
completion of the acquisition of Chubb, which is expected in the
first quarter of 2016.
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John Keogh, Executive Vice Chairman and
Chief Operating Officer, ACE Limited (Photo: Business Wire)
“It is with great pleasure that I announce the appointment of
John Keogh to Executive Vice Chairman of ACE,” said Evan Greenberg,
Chairman and Chief Executive Officer, ACE Limited. “John has made
substantial contributions to the success of our company and this
great recognition is well deserved. As our number two executive and
my longtime trusted colleague, John is an exceptional insurance
executive with tremendous leadership and global industry
experience. As we look to the future of the company following our
acquisition of Chubb, John will play a significant role in
executing our ambitious growth strategies and realizing our full
potential as the world’s largest publicly traded P&C
company.”
Mr. Keogh joined ACE in 2006 to head the company’s Overseas
General business. He was appointed Vice Chairman of ACE Limited in
2010 and Chief Operating Officer in 2011. Mr. Keogh joined ACE
after more than 20 years with American International Group (AIG),
where he last served as Senior Vice President, Domestic General
Insurance, and President and Chief Executive Officer of National
Union Fire Insurance Company, AIG's company that specializes in
directors and officers liability and fiduciary liability coverages.
Mr. Keogh holds a Bachelor of Arts degree in Economics from Brown
University.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151119006545/en/
ACE LimitedInvestors:Helen Wilson,
441-299-9283helen.wilson@acegroup.comorMedia:Jeffrey Zack,
212-827-4444jeffrey.zack@acegroup.com
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