ACE Launches Enhanced Public Offering of Securities Insurance
HONG KONG -- July 11, 2013
The ACE Group of Companies, one of the world’s largest multiline property and
casualty insurers, announced today the launch of ACE elite II Public Offering
of Securities Insurance (POSI) in Hong Kong, Malaysia and Singapore.
With increasing regulations and shareholder demands, the ACE elite II POSI was
launched to protect the company, the directors, management, and shareholders
of companies against potential claims or investigation during roadshows or for
documentation related to the offering of company securities or debts. It also
covers the Initial Public Offering (IPO) sponsors and underwriters indirectly
depending on the indemnification provision in the underwriting agreement.
ACE elite II POSI is a single premium multi-year policy offering enhanced
coverage and relevant latest extensions to suit the needs of the Insured,
including but not limited to the cover for data protection and privacy breach;
offering delay or cancellation costs; secondary offering and the like.
According to Mr. Stanley Wong, Financial Lines Manager, Asia, “Stock exchanges
in Hong Kong, Singapore and Malaysia are some of the most active in Asia and
will likely continue as IPO activity is expected to intensify.”
“The responsibilities and obligations of stakeholders involved in the public
offering of securities are complex, significant and come with a certain level
of risk. Mitigating & transferring the risk exposure of the company,
directors, management and shareholders of companies is an important part of
the public offering process. As a leading provider of securities protection
products in Asia and globally, ACE understands the risk exposure during the
IPO process and that the exposure does not stop after the company achieves its
successful public listing,” Mr. Wong added.
For more information on the product, listen to the podcast “An interview with
Mr. Stanley Wong, Financial Lines Manager, Asia on ACE elite II POSI” or visit
*ACE Hong Kong website: www.aceinsurance.com.hk or
*ACE Jerneh website: www.acejerneh.com.my or
*ACE Singapore website: www.aceinsurance.com.sg
The ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 53 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and supplemental
health insurance, reinsurance and life insurance to a diverse group of
clients. ACE Limited, the 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.
Additional information can be found at: www.acegroup.com.
ACE Insurance, ACE Group of Companies and ACE Limited are registered
trademarks of ACE Limited.
Michele Anne Minjoot, 65-6398-8708
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