ACE Comments on Deepwater Horizon Drilling
May 03, 2010 09:07 AM Eastern Daylight Time
ZURICH--(EON: Enhanced Online News)--ACE Limited (NYSE: ACE) today provided the following statement
concerning the Deepwater Horizon Drilling Platform disaster.
The explosion and subsequent sinking of the Deepwater Horizon Drilling Platform in the Gulf of Mexico is a terrible
economic and social disaster, with significant loss of life and property as well as the ensuing environmental impact.
As a recognized lead underwriter in the offshore energy insurance business, ACE takes a measured and prudent
approach to underwriting risks in this and every class of business including managing maximum gross and net
exposures. While the disaster is still occurring, and it will take time for all the facts to emerge, based on current
information, the company believes this event is contained within the current accident year loss ratios for 2010 as
contemplated in its annual guidance.
Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a
diverse group of clients. Headed by ACE Limited, the ACE Group conducts its business on a worldwide basis with
operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.
Cautionary Statement Regarding Forward-Looking Statements:
Forward-looking statements made in this press release reflect ACE Limited’s current views with respect to
future events and financial performance and reports, 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. Among other things,
the forward-looking statements concerning exposure with respect to the above-mentioned drilling platform
disaster could be affected by the ultimate financial and environmental impact of the disaster, t