Ace weighs in to buy Chubb
Global insurance industry is set to see the latest “mega deal” as Ace has announced it’s purchase of US-listed Chubb for over $28bn.
takeover will be the largest on record in the sector. Newton Perkins’ active monitor
of Underwriting Mergers and Acquisitions has recorded the upswing with the
likes of the $7.5bn Tokio Marine takeover of
HCC Insurance; and XL combining forces with Catlin in a £2.7bn transaction
amongst 9 deals we’ve recorded in the first 6 months of 2015.
Government estimate that London’s insurance sector contributed £12bn to the UK economy in 2013.
Activity and consolidation on this hugely significant sector may
also predicate requirements for some of the City’s large scale office
developments planned for the insurance heartland within the EC3 postcode.
more information contact Roger Weaver or Chris Sutcliffe.
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