ACE Group Update - U.S. Chamber of Commerce

Union of Myanmar Federation of Chamber of Commerce and Industry &
The United States Chamber of Commerce
US-Myanmar Economic Relations: The Path Forward
Yangon, Myanmar
February 25, 2013
Who We Are:
 The world’s eighth-largest multiline Property & Casualty insurer, based on
market capitalization of US$27.2 billion.*
 A truly global company, with local operations in 53 countries.
 Insurance is our only business – commercial and personal P&C, Personal
Accident, Supplemental Health, Reinsurance and Life.
 ACE Limited, parent company of the ACE Group, is listed on the New York
Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
 Exceptional financial strength, managing risk conservatively in both
underwriting and investing.
 Core operating insurance companies are rated “AA-” (Very Strong) for
Financial Strength by S&P and “A+” (Superior) by A.M. Best.
* As of December 31, 2012
Insurance, Society & Economy
Ways Insurance Helps Promote & Protect Economic Growth:
• Encourages and Marshall’s national savings
• Spreads Risk and Reduces Volatility
• Compliments and/or Substitutes Government Social Security Schemes (taking pressure
off of government-funded schemes)
• Makes Trade, Investment and Commerce possible (Particularly International)
• Enhances private and public organizations’ risk management
• Protects individual and corporate assets, attracts capital and sustains infrastructure
• Provides much-needed protection and capital following natural catastrophes e.g., 2008
Cyclone Nargis which caused over US$10 Billion in damages
Ways Insurance Helps Promote & Protect Economic Growth:
• Savings
- Mechanisms for personal savings e.g., Endowment Policies, etc.
- Mechanisms for protecting personal savings e.g., Credit Life, Term Insurance
• Stabilizes Organizations & Enhances Competitiveness
- SME Segment: Efficient, streamlined insurance products protect assets, liabilities and
employees e.g., Property (Fire), Third-Party Liability & Workers Compensation
- Export Segment: Trade Credit Insurance; Marine Cargo Insurance and Export
Products Liability to facilitate the export of goods & services
- Banking & Financial Services Sector: Banker’s Blanket Bond (BBB); D&O; Electronic
& Computer Crime (ECC); Financial Institutions Professional Indemnity
- Corporate & Individual: Life Insurance e.g., Key-Man
- Corporate & Individual: Accident & Health; Hospital Income; Critical Illness; Overseas
Student Assistance & Travel Insurance products protect & supplement expenses
ACE Life