ACE Limited reported that it has completed the previously-announced re-domestication of the company from the Cayman Islands to Zurich, Switzerland.
ACE said it continues to be registered with the Securities and Exchange Commission (SEC) and prepare its financial statements in U.S. dollars and in accordance with U.S. GAAP reporting. Shareholders will continue to receive dividends in U.S. dollars, and the company’s common shares will continue to trade on the New York Stock Exchange under the ticker symbol ACE.
The re-domestication became official following governmental filings made in the Cayman Islands and Switzerland, and the establishment of the holding company in Zurich. Certain corporate governance and other changes effected as part of the re-domestication, including new charter documents and the increase in the par value of common shares of the company, are described in SEC filings available at www.sec.gov.
The business of the ACE Group of Companies was not otherwise materially affected by the re-domestication, according to the company.
“This is an historic day for ACE as we commence operations as a Swiss company,” said Evan G. Greenberg, chairman and chief executive officer of ACE Limited.
Source: ACE Group of Companies
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