ACE Limited (NYSE: ACE) and The Chubb Corporation (NYSE: CB) announced the entering into of a definitive agreement under which ACE will acquire Chubb. Together, ACE and Chubb will create a global leader in commercial and personal property and casualty (P&C) insurance, with enhanced growth and earning power and an exceptional balance of products as a result of greater diversification and a product mix with reduced exposure to the P&C industry pricing cycle.

Lenz & Staehelin is advising Chubb in this transaction as to matters of Swiss law. The team includes Hans-Jakob Diem (Partner, Corporate), Pascal Hinny (Partner, Tax), Andreas Hinsen (Associate, Corporate) and Stephan Brandner (Associate, Tax).