ACE Issues Statement on Asian Disaster; Will Match Employee Aid Contributions

Evan Greenberg, president and CEO of Bermuda-based ACE Limited, has issued a statement on the earthquake and tsunamis that struck Southeast Asia, and the measures the company has initiated to help the victims

“The earthquake and resulting tsunamis that struck Southeast Asia are a human tragedy of monumental proportion,” Greenberg stated. “The unprecedented loss of life and catastrophic damage, combined with the millions left homeless and the threat of impending disease, make this event one of the worst natural disasters in modern history. All of us at ACE express our deepest sorrow over those who lost their lives – or who lost loved ones – and our hearts go out to so many people now in need who have been touched personally by this tragedy.”

He also announced that ACE has established the “ACE Tsunami Relief Fund, to which employees around the world can contribute and have their donations matched by the company. Additionally, the ACE Foundation will make a significant contribution to one or more major relief organizations.”

Greenberg also indicated that “from a business perspective, at this time, we do not expect any material losses from this event. If warranted, we will provide an update as more information becomes available.”