Violation Tracker Individual Record

Company: 
ACE, Ltd
Current Parent Company: 
Chubb Limited
Penalty: 
$80,000,000
Year: 
2006
Date: 
April 26, 2006
Offense Group: 
competition-related offenses
Primary Offense: 
price-fixing or anti-competitive practices
Violation Description: 

The attorneys general of Connecticut, Illinois and New York announced an $80 million agreement with ACE, Ltd, a Bermuda-based holding company that trades on the New York Stock Exchange, to resolve allegations of bid-rigging and improper finite reinsurance transactions.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.