London — Following the redomestication of ACE Ltd.’s holding company to Zurich in July 2008, the ACE Group has now taken the additional step of founding a new Swiss insurance company. The new company—ACE Insurance (Switzerland) Ltd., a subsidiary of ACE Limited—will manage the insurance and reinsurance business of the Zurich branch with the goal of further strengthening ACE’s position in the Swiss market.

ACE has been active as a local insurer in Switzerland since the opening of the Zurich branch of ACE European Group Ltd., London, in 2003. In addition, ACE’s reinsurance activities in continental Europe were moved to Zurich in 2005. The business will now be written through ACE Insurance (Switzerland) Ltd.

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