ACE Limited Responds to New York State Attorney General's Allegations.HAMILTON, Bermuda -- ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) has issued the following statement in connection with the action announced today by the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Attorney General: "The Attorney General of the State of New York filed a civil lawsuit lawsuit: see procedure; tort. today against Marsh & McLennan Companies, Inc. and Marsh Inc. This is an outgrowth of the Attorney General's investigation into broker compensation practices. Although ACE is not named as a defendant, ACE and several other insurers are referenced in the complaint. We have been cooperating with the Attorney General's office since earlier this year in this matter, and we intend to continue to cooperate fully with the investigation." The ACE Group of Companies is a global leader in insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. serving a diverse group of clients. A component of the Standard & Poor's 500 stock index, The ACE Group conducts its business on a worldwide basis with operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. in approximately 50 countries. Additional information can be found at: http://www.acelimited.com. |
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