Bermuda's ACE Considering Acquisition Of CIGNA P&C

CIGNA Corp. and ACE Ltd. have confirmed that they are discussing a global strategic alliance. The discussions include the possible acquisition of CIGNA's domestic and international property and casualty businesses by ACE. Both companies have expressed a desire to strengthen their global capabilities through working together.

The terms of the possible alliance have not yet been finalized although the parties expect the final purchase price to be materially in excess of $3 billion.

Brian Duperreault, chairman, president and CEO of ACE, stated, "This would be a unique opportunity for ACE to acquire one of the premier global property and casualty franchises."