Ace’s Move to Switzerland Completed

ACE Ltd.'s redomestication to Switzerland from the Cayman Islands was completed Friday, and the insurer's holding company is now located in Zurich.

Published on July 21, 2008

ACE shareholders approved the move at the company's annual general meeting in Bermuda on July 10.

As part of the redomestication, ACE on Tuesday announced the appointment of Olivier Steimer, chairman of Lausanne, Switzerland-based Banque Cantonale Vaudoise, to its board of directors. Swiss law requires companies incorporated in the country to have at least one director or executive officer living in Switzerland.

The company said it will maintain executive offices in Bermuda, and ACE Group Holdings executive offices will remain in New York.