ACE LAUNCHES ENHANCED PUBLIC OFFERING OF SECURITIES INSURANCE
12 Jul 2013 11:19
KUALA LUMPUR, July 11 (Bernama) -- The ACE Group of Companies, one of the
worldâ€™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, â€œStock 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.â€
â€œThe 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,â€ Mr. Wong added.
For more information on the product, listen
IIFk~,QokpsoecwbyVZFLQt35pQ6ouK71NF11A&bctid=2496708200001target=_blank) to the
podcast â€œAn interview with Mr. Stanley Wong, Financial Lines Manager, Asia on
ACE elite II POSIâ€ or visit the
â€¢ ACE Hong Kong website: www.aceinsurance.com.hk or
â€¢ ACE Jerneh website: www.acejerneh.com.my or
â€¢ ACE Singapore website: www.aceinsurance.com.sg
The ACE Group is one of the worldâ€™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.
Source: ACE Group
Michele Anne Minjoot, 65-6398-8708