M&A Deal Summary

Chubb Acquires ACE Fianzas Monterrey SA

On April 2, 2013, Chubb acquired financial services company ACE Fianzas Monterrey SA from New York Life Insurance Company for 293M USD

Acquisition Highlights
  • This is Chubb’s 1st transaction in the Financial Services sector.
  • This is Chubb’s 7th largest (disclosed) transaction.
  • This is Chubb’s 1st transaction in Mexico.

M&A Deal Summary
Date 2013-04-02
Target ACE Fianzas Monterrey SA
Sector Financial Services
Buyer(s) Chubb
Sellers(s) New York Life Insurance Company
Deal Type Divestiture
Deal Value 293M USD

Target

ACE Fianzas Monterrey SA

Miguel Hidalgo, Mexico
Fianzas Monterrey was founded in 1943 and is Mexico's second-largest surety lines company, offering administrative performance bonds mainly to construction and industrial clients. It has 25 branch offices and distributes its products through nearly 600 independent agents and brokers.

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Buyer(S) 1

Buyer

Chubb

Zurich, Switzerland

website

Category Company
Founded 1985
Sector Insurance
Employees31,000
Revenue 43.1B USD (2022)
DESCRIPTION
Chubb's corporate headquarters in Zurich, Switzerland.
Chubb's corporate headquarters in Zurich, Switzerland.

Chubb is a property and casualty insurer that offers a broad range of personal and commercial insurance products. Chubb was founded in 1985 and is based in Zurich, Switzerland.

DEAL STATS #
Overall 9 of 15
Sector (Financial Services) 1 of 1
Type (Divestiture) 4 of 8
Country (Mexico) 1 of 2
Year (2013) 1 of 2
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-13 PT Asuransi Jaya Proteksi

Jakarta,, Indonesia

PT Asuransi Jaya Proteksi, engages in personal lines, offering property, motor, accident and health insurance as well as commercial insurance coverages such as marine cargo and liability insurance.

Buy $130M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-02 ABA Seguros S.A. de C.V.

San Pedro Garza Garcia, Mexico

ABA Seguros, S.A. de C.V provides insurance services for car, home and business.

Buy $690M

Seller(S) 1

SELLER

New York Life Insurance Company

New York, New York, United States

website

Category Company
Founded 1845
Sector Insurance
Employees12,000
DESCRIPTION

New York Life Insurance Company is a US mutual-life insurance company. New York Life was formed in 1845 and is based in New York City.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 2 of 2
Country (Mexico) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 ACE Fianzas Monterrey SA

Miguel Hidalgo, Mexico

Fianzas Monterrey was founded in 1943 and is Mexico's second-largest surety lines company, offering administrative performance bonds mainly to construction and industrial clients. It has 25 branch offices and distributes its products through nearly 600 independent agents and brokers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-03 Candriam

Brussels, Belgium

Candriam has built up a significant presence in Europe and across international markets. The company has established product manufacturing platforms in Brussels, Paris, Luxembourg and Sydney and has an experienced sales force covering Europe, the Middle East and Australia.

Buy €380M
Mergr

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