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The Collaborative Clearinghouse for Lawsuits and Other Claims Against ACE Group Insurance Companies

2002-01-09 ACE Limited (NYSE: ACE) 8-K

ATTENTION: It is possible that this information may no longer be current and therefore may be inaccurate. The index contains both open and closed cases and is not a complete list of cases in which an ACE Insurance Group company is involved. This information is provided to give interested persons an idea of the issues disputed in the indexed cases. For a full understanding of a case, one should read the rest of the court file, including the response. For the most up-to-date and complete information on a case, visit www.pacer.gov or contact the clerk of the relevant court.

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http://www.sec.gov/Archives/edgar/data/896159/000090256102000010/0000902561-02-0000...
-----BEGIN PRIVACY-ENHANCED MESSAGE----Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IYTCk2KzEBUcXt93sZaP9TfMK5JOMpc0ErTV82iNp47IZOpW14TkfztEChRBgbug 2gQiFaxTPicd+cOZ69dNJw== <SEC-DOCUMENT>0000902561-02-000010.txt : 20020413 <SEC-HEADER>0000902561-02-000010.hdr.sgml : 20020413 ACCESSION NUMBER: 0000902561-02-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20020108 ITEM INFORMATION: Other events FILED AS OF DATE: 20020109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL INDEX KEY: STANDARD INDUSTRIAL CLASSIFICATION: IRS NUMBER: STATE OF INCORPORATION: FISCAL YEAR END: FILING VALUES: FORM TYPE: SEC ACT: SEC FILE NUMBER: FILM NUMBER: BUSINESS ADDRESS: STREET 1: STREET 2: CITY: STATE: ZIP: BUSINESS PHONE: MAIL ADDRESS: STREET 1: CITY: STATE: ZIP: </SEC-HEADER> <DOCUMENT> <TYPE>8-K <SEQUENCE>1 <FILENAME>form8k.txt <TEXT> 8-K 1934 Act 001-11778 2505207 ACE BLDG 30 WOODBOURNE AVE HAMILTON HM 08 BERMU D0 00000 8092955200 P O BOX HM 1015 HAMITON BERMUDA D0 00000 ACE LTD 0000896159 FIRE, MARINE & CASUALTY INSURANCE [6331] 000000000 D0 1231
SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 8, 2002 ACE LIMITED (Exact name of registrant as specified in its charter) Cayman Islands (State or other jurisdiction) 1-11778 (Commission File Number) 98-0091805 (I.R.S. Employer of Incorporation Identification No.)
The ACE Building ACE Global Headquarters 17 Woodbourne Avenue Hamilton, Bermuda (Address of principal executive offices)
HM 08 (Zip Code)
Registrant's telephone number, including area code: (441) 295-5200
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Not Applicable (Former name or former address, if changed since last report)
<PAGE>
Item 5.
Other Information
On January 8, 2002, ACE Limited issued a press release announcing an earnings advisory on fourth quarter results. Attached as Exhibit 99.1 is a copy of the press release, dated January 8, 2002. On January 2, 2002, ACE Limited issued a press release announcing the appointment of Philip V. Bancroft as Chief Financial Officer of ACE Limited. Attached as Exhibit 99.2 is a copy of the press release, dated January 2, 2002.
<PAGE> SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: January 9, 2002 ACE LIMITED By: /s/ Philip V. Bancroft --------------------------Title: Chief Financial Officer -------------------------
<PAGE> EXHIBIT INDEX Exhibit Number - ------99.1 99.2 Description ----------Press Release, dated January 8, 2002 Press Release, dated January 2, 2002
</TEXT> </DOCUMENT> <DOCUMENT> <TYPE>EX-99.1 <SEQUENCE>3 <FILENAME>ex-991.txt <TEXT> FOR IMMEDIATE RELEASE Investor Contact: Media Contact: EXHIBIT 99.1 Helen M. Wilson (441) 299-9283 Wendy Davis Johnson (441) 299-9347 HAMILTON, Bermuda--(BUSINESS WIRE)--Jan. 8, 2002--ACE Limited (NYSE:ACE) today announced that its fourth quarter net operating income will fall below expectations due to an increase of approximately $80 million, after taxes, in property losses incurred in its European Commercial Property portfolio together with a $50 million charge taken to strengthen loss reserves principally in its International Casualty Operations.
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Mr. Brian Duperreault, Chairman and Chief Executive Officer, said: "We experienced a pattern of increased frequency and severity within our European Commercial Property portfolio. In response to these adverse results we have tightened underwriting controls and significantly increased prices. We believe the changes made will permit us to realize our financial objectives for this unit in 2002. We also carefully reviewed the development of our international casualty portfolio and determined an increase in reserves was warranted. The balance of our business segments have performed as expected and we do not expect the issues affecting the fourth quarter to carry forward into the new year." ACE Limited expects to report its quarterly earnings before the opening of business on Wednesday, February 13, 2002. ACE management will then provide its customary supplemental commentary in a conference call and webcast scheduled for 9:30 a.m. EST on the same date. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: http://www.acelimited.com. Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995: Any forward-looking statements made in this press release reflect the Company's current views with respect to future events and financial 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, the Company's ability to achieve its objectives may be affected by competition in the industry, levels of new and renewal business achieved, market acceptance, the frequency of unpredictable catastrophic events, actual loss experience, the amount and timing of reinsurance recoverables, and economic, market, legislative, regulatory, Lloyd's, insurance and reinsurance business conditions and other factors identified in the Company's filings with the Securities and Exchange Commission. 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.
</TEXT> </DOCUMENT> <DOCUMENT> <TYPE>EX-99.2 <SEQUENCE>4 <FILENAME>ex-992.txt <TEXT> ACE Limited ACE Global Headquarters 17 Woodbourne Avenue Hamilton HM 08 ACE LIMITED Bermuda
PO Box HM 1015 Hamilton HM DX Bermuda 441 295-5200 main 441 292-8675 fax www.acelimited.com
| | | | |News |Release
FOR IMMEDIATE RELEASE Investor Contact: Media Contact: Helen M. Wilson (441) 299-9283 Wendy Davis Johnson (441) 299-9347
ACE Limited Appoints Philip Bancroft as Chief Financial Officer, ---------------------------------------------------------------Christopher Marshall to assume strategic role --------------------------------------------HAMILTON, Bermuda - January 2, 2002 - ACE Limited (NYSE: ACE) announced today that Philip V. Bancroft will join the ACE Group of Companies as Chief Financial Officer of ACE Limited, effective immediately. Mr. Bancroft will be based in Bermuda and will report directly to Brian Duperreault, Chairman and Chief Executive Officer of ACE Limited. For nearly 20 years, Philip Bancroft has worked for PricewaterhouseCoopers.
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Most recently, he served as partner-in-charge of the New York Regional Insurance Practice, where he led a team of approximately 200 partners and staff that serves many of the Firm's most significant insurance clients. Mr. Bancroft has been a partner with PricewaterhouseCoopers for the past 10 years, having worked in their New York, Philadelphia and Harrisburg offices. Philip Bancroft received a Bachelor of Business Administration degree in Accounting from Temple University in Philadelphia, Pennsylvania. He is also a Certified Public Accountant. As previously announced in February of last year, Christopher Marshall, who has been Chief Financial Officer of ACE Limited since 1992, would move to the newly-created position of Executive Assistant to the Chairman with a focus on strategic initiatives, once a successor had been named. In his new role, Mr. Marshall will be responsible for special projects designated by the Chairman, including mergers and acquisition activity and other corporate initiatives. "It is my pleasure to announce the appointment of our new Chief Financial Officer," said Brian Duperreault, Chairman and Chief Executive Officer of ACE Limited. "We are pleased to attract someone of Philip Bancroft's caliber and extensive industry experience and believe he will be an invaluable addition to ACE." Mr. Duperreault added: "I would also like to thank Chris Marshall for the critical role he has played in ACE's growth and development, which includes being a key player in nine major acquisitions, as well as overseeing the successful completion of several corporate financing projects. Chris is ACE's first employee and we are especially pleased that he will continue to have an impact on ACE's future success and development." <PAGE> Dominic Frederico, President and Chief Operating Officer of ACE Limited, noted: "Philip Bancroft's in-depth knowledge and the extensive experience he has amassed working with insurance companies will be an important asset to ACE." Philip Bancroft commented: "I am delighted to join ACE. The company and its management team have an outstanding reputation in the marketplace. I look forward to being an integral part of the ACE team." The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.
APPLICATION OF THE SAFE HARBOR OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Any forward-looking statements made in this press release reflect the Company's current views with respect to future events and financial 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, the Company's success and development may be affected by competition in the industry, levels of new and renewal business achieved, market acceptance, the frequency of unpredictable catastrophic events and economic, market, regulatory, Lloyd's, insurance and reinsurance business conditions and other factors identified in the Company's filings with the Securities and Exchange Commission. 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.
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