NEW YORK -- (BUSINESS WIRE) --

The ACE Group announced today that its ACE INA International Holdings, Ltd. subsidiary has acquired all of the outstanding shares it does not already own, or approximately 49%, of ACE Synergy Insurance Berhad in Malaysia from Advance Synergy Capital Berhad for approximately $39 million in cash. Established in 1996, ACE Synergy Insurance has been ACE's longstanding joint venture in Malaysia offering property and casualty, personal accident and supplemental health insurance lines for commercial and individual customers.

"This transaction allows us to solidify our position in the attractive Malaysian market together with our recently acquired Jerneh Insurance business and to enhance our market momentum," said John Keogh, Vice Chairman and Chief Operating Officer of ACE Limited. "We look forward to the tremendous opportunities that the combination of these two great businesses will provide."

Celebrating 25 years of insuring progress, the ACE Group is a leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, 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.acegroup.com.

CONTACT:

The ACE Group
Investor:
Helen M. Wilson, 441-299-9283
helen.wilson@acegroup.com
or
Media:
Stephen Wasdick, 212-827-4444
stephen.wasdick@acegroup.com