Bermuda Bank

This site owned and operated by GlobalURLs

Bermuda insurer Ace Ltd (Public, NYSE:ACE) moving from Cayman to Zurich

The Bermuda based business insurer Ace Ltd, said the company has decided to move its legal home to Zurich from the Cayman Islands to upgrade its image. Evan Greenberg, Ace’s chief executive officer told the press “There is political and regulatory risk associated with the Cayman Islands. That location is incompatible with Ace as it stands today and what we plan to become.”

As of Greenberg the company had been searching for a highly stable location as offshore since last March, 2007. “There is no acute event or anything we know about at the moment, Ace-specific, out there lurking”. The Hamilton, Bermuda based insurer Ace will benefit from the strong Swiss legal and regulatory system, tax treaties, and from having a holding company in Europe. Ace ltd derives a quarter of its business from swiss.

Ace ltd. does the majority of its business in the US and maintains offices here, a US domicile would have subjected shareholders to an immediate and “substantial” equivalent of a capital gains tax, the company said.

Tax consequences from Swiss incorporation will be “minimal,” and the company will continue to trade on the New York Stock Exchange and report earnings according to US generally accepted accounting practices, while also filing under Swiss law. The move should be accomplished in July, assuming shareholder approval at the annual meeting in Bermuda in July.

Ace’s executive offices in Bermuda will remain same. A new corporate holding company office opened in Zurich.

Evan Greenberg
Chairman of the Board at ACE Limited

Company website:
http://www.acelimited.com

17 Woodbourne Avenue
Hamilton, HM 08
BMU
+1-441-2955200 (Phone)
+1-441-2955221 (Fax)

ACE Limited its direct and indirect subsidiaries, the ACE Group of Companies are a global property and casualty insurance and reinsurance organization.

The Company operates through four segments: Life Insurance and Reinsurance, Insurance – North American, Insurance – Overseas General, Global Reinsurance. Ace provides a range of products and services to commercial and individual customers in more than 140 countries world wide.

Management
Evan G. Greenberg : Chairman of the Board, President, Chief Executive Officer
Philip V. Bancroft : Chief Financial Officer
Brian E. Dowd : Chairman of ACE USA, ACE Westchester Specialty & CEO - Insurance, North America
Christopher Maleno : President, Ace USA regional operations
Joseph Clabby : President, Ace USA West.
John W. Keogh : Chief Executive Officer, ACE Overseas General
Karen Barkley : President and Chief Executive Officer, Canadian Unit
Paul B. Medini : Chief Accounting Officer
Robert F. Cusumano : General Counsel, Secretary
Robert M. Hernandez : Lead Director

Growth Rates
Company Ind Sector S&P 500
Sales (MRQ) vs Qtr. 1 Yr. Ago 0.75 -7.84 10.89 17.03
Sales (TTM) vs TTM 1 Yr. Ago 6.20 6.41 16.79 15.89
Sales - 5 Yr. Growth Rate 14.39 14.42 17.19 15.09

EPS (MRQ) vs Qtr. 1 Yr. Ago -16.51 -18.28 -13.32 15.95
EPS (TTM) vs TTM 1 Yr. Ago 11.40 -4.60 -2.10 12.67
EPS - 5 Yr. Growth Rate 94.55 23.66 16.07 22.46

Capital Spending - 5 Yr. Growth Rate NM 19.60 6.56 11.74

Growth Rates
Company Ind Sector S&P 500
Sales (MRQ) vs Qtr. 1 Yr. Ago 0.75 -7.84 10.89 17.03
Sales (TTM) vs TTM 1 Yr. Ago 6.20 6.41 16.79 15.89
Sales - 5 Yr. Growth Rate 14.39 14.42 17.19 15.09

EPS (MRQ) vs Qtr. 1 Yr. Ago -16.51 -18.28 -13.32 15.95
EPS (TTM) vs TTM 1 Yr. Ago 11.40 -4.60 -2.10 12.67
EPS - 5 Yr. Growth Rate 94.55 23.66 16.07 22.46

Capital Spending - 5 Yr. Growth Rate NM 19.60 6.56 11.74

data from march 25, 2008 | 12:33 AM (US et) | source: finance.google.com

for more current data please visit here

Aspen Insurance Holdings [NYSE:AHL] to Announce 1Q 2008 Results on April 30, 2008
HAMILTON, Bermuda

Aspen Insurance Holdings Limited (“Aspen”) (NYSE:AHL) will release its first Q 2008 financial results on Wednesday, April 30, 2008s. The Aspen Insurance will hold a conference call to discuss its financial analysis results on Thursday, May 1, 2008 at 8:30 a.m. (ET). The call will be webcast live in the ‘presentations’ section of the Investor Relations page of Aspen’s website, which is located at http://phx.corporate-ir.net/phoenix.zhtml?c=148827&p=irol-irhome. The earnings and a detailed financial supplement will be posted to the http://www.aspen.bm/ website also a brief slide presentation which may be used for reference during the earnings call.

Investors can participate in the live conference by dialing 888-459-5609 (us toll free) or 973-321-1024 (international long distance); the conference ID: 40596535. This is a register events only.

Investor Please call to register at least 30 minutes before the conference call begins. A replay of the call will be available for 10 days via telephone can be accessed at 800.642.1687 (USA toll-free) or 706.645.9291 (international); access pin: 40596535. A replay will also be available for 10 days via Aspen’s website at www.aspen.bm

Aspen Insurance Holdings Limited (“Aspen”) will also hold its 2008 Investor Day in New York City on May 15th. For additional information email Noah Fields at noah.fields@aspen.bm

About Aspen Insurance Holdings Limited (“Aspen”)

During the year ended December 31, 2007, the Company wrote $1,818.5 million in gross premiums. The Company operates in four segments: property reinsurance, casualty reinsurance, international insurance and United States insurance.

Aspen Insurance Holdings Limited is a Bermuda based holding company conducts reinsurance and insurance business through its wholly owned subsidiaries in three jurisdictions: Aspen Insurance Limited [Aspen Bermuda in Bermuda island], Aspen Specialty Insurance Company [Aspen Specialty in United States] and Aspen Insurance UK Limited [Aspen U.K.]. Aspen operates in the global markets for property and casualty reinsurance, and specialty insurance and reinsurance. The Company also provides commercial property and casualty insurance in the domestic markets of the USA and the UK.

Maxwell Roberts Building 1 Church Street
Hamilton, HM 11
BMU
+1-441-2958201 (Phone)
+1-441-2951829 (Fax)

Aspen Insurance Holdings Management:

Kate Vacher Underwriting Director

Brian Boornazian Head of Reinsurance and President, Aspen Re America
Officer Since: 01/2004 Age: 47

Nathan Warde President, Aspen Insurance U.S. and Chief Executive Officer, Aspen Specialty
Officer Since: 04/2007 Age: 46

James Few Chief Underwriting Officer of Aspen Bermuda, Head of Property Reinsurance
Officer Since: 06/01/2004 Age: 36

Glyn Jones Chairman of the Board
Officer Since: 05/02/2007 Age: 55

Christopher O’ Kane Chief Executive Officer, Director
Officer Since: 06/21/2002 Age: 53

Richard Houghton Chief Financial Officer, Director
Officer Since: 04/30/2007 Age: 42

Julian Cusack Ph.D. Chief Operating Officer, Director
Officer Since: 06/21/2002 Age: 57

Karen Green Head of Strategy
Officer Since: 03/2005 Age: 40

Oliver Peterken Chief Risk Officer
Officer Since: 05/09/2005 Age: 51

data from: march 25, 2008 | 11:32 AM (US et) | source: finance.google.com

For current stock report please click here

Bermuda is an overseas territory of the United Kingdom.

Bermuda was first settled in 1609 by English colonists headed for Virginia. Tourism continues to be important to the Bermuda’s economy, although business from all over the world has overtaken it in recent years. Bermuda has developed into a highly successful offshore financial center.

Geographic coordinates: 32 20 N, 64 45 W

Area of Bermuda:
total: 53.3 sq km
land: 53.3 sq km
water: 0 sq km