The delisting of insurance giant Ace Ltd from the Bermuda Stock Exchange (BSX), which was confirmed yesterday, will have an impact on the numbers for the exchange.

However, such delistings are part of the normal course of business for stock exchanges, said Greg Wojciechowski, president and chief executive officer of the BSX.

He hopes that Ace, under its new identity of Chubb Ltd, will consider continuing a secondary listing in Bermuda on the BSX.

“I encourage Chubb to continue its secondary listing in Bermuda on the BSX.

“By having a secondary listing on the national stock exchange, it solidifies any company’s commitment to the jurisdiction (from which it is operating), while not imposing any further regulatory obligations on the issuer over and above those it must undertake with the exchange of its primary listing,” he said.

Ace delisted from the local exchange following its acquisition of Chubb Corporation in a $29.5 billion takeover deal, which created the world’s largest publicly traded property and casualty insurance company.

The consolidated entity is known as Chubb Ltd. It has a new corporate logo and trades on the New York Stock Exchange, where it has a market capitalisation of $50 billion.

The Listing Committee of the BSX waived the normally required 60-day notice period in consideration of the specific circumstances of the acquisition and the subsequent immediate listing of Chubb Ltd on the New York Stock Exchange on January 15.

While acknowledging that the delisting of Ace from the BSX will impact the exchange’s numbers, Mr Wojciechowski said: “International business for the BSX is solid, especially the work we are doing in the ILS [insurance-linked securities] space.”

At the end of last year there were 681 securities on the BSX and, as of December 31, the exchange had a total market capitalisation of $349 billion.

In its end of year review report the BSX noted it had a record number of insurance-linked securities listed.

“The BSX sees an opportunity to emerge as a niche focused exchange supporting the global insurance and reinsurance industry, having huge names listed with us really helps move our plans along,” said Mr Wojciechowski.

Chubb Ltd has the trading symbol CB on the New York Stock Exchange.