Press release from Business Wire
ACE Launches Enhanced Public Offering of Securities Insurance
Thursday, July 11, 2013
ACE Launches Enhanced Public Offering of Securities Insurance01:30 EDT Thursday, July 11, 2013
HONG KONG (Business Wire) -- 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 the
- 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