Chairman, president and CEO of ACE Ltd. Brian Duperreault was pleased that the transaction was closed quickly. CAT is to be assimilated into ACE subsidiary Tempest Re.

Also yesterday, ACE announced that it has filed a shelf registration statement with the US Securities and Exchange Commission for the offering of up to 18,975,000 of its Ordinary Shares.

The net proceeds of the offering are to be used to repay approximately $390 million of debt incurred to finance, in part, the acquisition of CAT Ltd.

which closed on Wednesday. The remaining net proceeds will be used for general corporate purposes, which may include acquisitions.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.