ACE Buys Chubb.

On July 1, Chubb has agreed to be acquired by ACE Limited. After the merger, ACE will own 70% of the company. The combined entity will trade as Chubb. The deal is expected to close in first quarter 2016 giving the combined company a broader global footprint and distribution network, along with a wider range of product offerings, and greater resources to invest in the business.

Until the deal is closed, both companies will continue to operate as two separate and competing companies.