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TMCNet:  A.M. Best Upgrades Financial Strength Rating to 'A++' for ACE's Core North American P&C Companies

[April 11, 2014]

A.M. Best Upgrades Financial Strength Rating to 'A++' for ACE's Core North American P&C Companies

NEW YORK --(Business Wire)--

ACE Group today announced that A.M. Best has upgraded the financial strength rating to "A++" (Superior) for ACE's core North American property and casualty insurance and reinsurance companies. These companies include ACE USA, ACE Westchester, ACE Canada, ACE Bermuda and ACE Tempest (News - Alert) Re Group.

In upgrading the financial strength rating, A.M. Best cited ACE's "strong risk-adjusted capitalization, diversified global operation enhanced by prudent acquisitions over the past few years and the historically favorable record of generating strong earnings and cash flows." In its announcement, A.M. Best said "the positive rating factors are derived from management's experience and consistent focus on underwriting profitability generated by effective risk selecton and pricing standards" and noted "ACE's strong enterprise risk management program relies on close collaboration of executives and operating departments to identify, assess and control enterprise risk and accumulations."


"We're pleased to earn this important recognition from A.M. Best and believe these rating upgrades provide an added measure of security and confidence to our customers, business partners and investors," said Evan G. Greenberg, ACE Group Chairman and Chief Executive Officer. "Our financial strength and consistent operating performance are the result of a conservative approach to underwriting, investing, risk management and overall balance sheet management."

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.


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