$ASQRatings Summary as of 12_23_13

Ratings by Legal Entity
Financial Strength and Credit Ratings
Financial strength and credit ratings listed below are as of December 23rd 2013. For current ratings, ratings qualifiers, and ratings
definitions, please contact the relevant rating agency or ACE at [email protected].
OVERALL OUTLOOK (except where indicated)
Moody's
S&P
Fitch
AM Best
Stable
Positive
Stable
Positive
Outlook
Outlook
Outlook
Outlook
(except where indicated)
(except where indicated)
(except where indicated)
(except where indicated)
Aa3
AAAA-
AA
A+
A+
FINANCIAL STRENGTH RATINGS
ACE Bermuda
ACE Bermuda Insurance Ltd.
Corporate Officers and Directors Assurance Ltd.
ACE Bermuda International
ACE Bermuda International Insurance (Ireland) Limited
ACE Tempest Re
ACE Tempest Life Reinsurance, Ltd.
ACE Tempest Reinsurance Ltd.
ACE Global Markets
ACE USA
Syndicate 2488
Lloyd's ACE Syndicate Continuity Opinion
(1)
Lloyd's Overall Market Rating
AA-
Aa3
A+
AAAA-
AA
A+
A+
A+
A+
A
A+
A+
A+
A+
A+
A+
A+
A+
A+
A+
A+
A+
A+
A+
A+
A-
ACE American Insurance Co.
ACE Fire Underwriters Insurance Co.
ACE Property & Casualty Insurance Co.
Agri General Insurance Company
Bankers Standard Fire & Marine Co.
Bankers Standard Insurance Co.
Insurance Co. of North America
Indemnity Insurance Co. of North America
Pacific Employers Insurance Co.
ACE Insurance Co. of the Midwest
Atlantic Employers Insurance Co.
Illinois Union Insurance Co.
Penn Millers Insurance Co.
A1
A1
A1
AAAAAA-
A1
A1
A1
A1
A1
A1
A1
A1
AAAAAAAAAAAAAAAA-
AA
AA
AA
AA
AA
AA
AA
AA
AA
AA
AA
AA
Westchester Fire Insurance Co.
Westchester Surplus Lines Insurance Co.
A1
A1
AAAA-
AA
AA
Ratings by Legal Entity
Financial Strength and Credit Ratings
Financial strength and credit ratings listed below are as of December 23rd 2013. For current ratings, ratings qualifiers, and ratings
definitions, please contact the relevant rating agency or ACE at [email protected].
OVERALL OUTLOOK (except where indicated)
ACE International
ACE European Group Limited (Europe)
ACE INA Insurance (Canada)
ACE Insurance Limited (Australia)
ACE Insurance Limited (New Zealand)
ACE Insurance Limited (Singapore)
ACE Insurance Co. (Puerto Rico)
CJSC ACE Insurance Co. (ACE Russia)
ACE Insurance (Japan)
ACE Insurance Limited (Hong Kong)
ACE Seguros S.A. (Argentina)
ACE Seguradora S.A. (Brazil)
ACE Seguros S.A. (Ecuador)
ACE Seguros S.A. (Mexico)
ACE Fianzas Monterrey S.A. (Mexico)
(5)
ACE South Africa
(6)
ACE Seguros S.A. (Chile)
(7)
ACE Insurance Limited (Pakistan)
ACE Insurance (Switzerland) Limited
ACE Reinsurance (Switzerland) Limited
ACE Seguros S.A. (Peru)
ACE Seguros S.A. (Panama)
Moody's
S&P
Fitch
AM Best
Stable
Positive
Stable
Positive
Outlook
Outlook
Outlook
Outlook
(except where indicated)
(except where indicated)
(except where indicated)
(except where indicated)
AAA+
A+
A+
A+ (2)
A+
A+
A+
AAA (rus)
A+
A+(3)
(4)
Aa3.ar
Aaa.br
AAA (ecu)
A
(11)
Baa1
(8)
AAA+
AA(9)
A
A
AIOIC
ACE INA Overseas Insurance Company Ltd.
A+
ACE Life Insurance
ACE Life Insurance Company
(10)
ACE Seguros de Vida S.A. (Chile)
ACE Financial Services
ACE Capital Title Reinsurance Co.
Aa3
Brandywine Holdings
Century Indemnity Co.
Ba3
Combined
Combined Insurance Co. of America
Combined Life Insurance Co. of New York
(11)
AA
A-
A2
(11)
A+(11)
(11)
A+
Ratings by Legal Entity
Financial Strength and Credit Ratings
Financial strength and credit ratings listed below are as of December 23rd 2013. For current ratings, ratings qualifiers, and ratings
definitions, please contact the relevant rating agency or ACE at [email protected].
OVERALL OUTLOOK (except where indicated)
Moody's
S&P
Fitch
AM Best
Stable
Positive
Stable
Positive
Outlook
Outlook
Outlook
Outlook
(except where indicated)
(except where indicated)
(except where indicated)
(except where indicated)
Baa1
A3
A3
A3
A3
A3
A3
A3
A3
A3
A3
BBB+
A
A
A
A
A
A
A
A
A
A
AA+
A+
A+
A+
A+
A+
A+
A+
A+
A+
bbb+
a
a
a
a
a
a
a
a
a
a
CREDIT RATINGS
$300 mil 9.7% capital securities due 04/01/30
$500 mil 5.875% senior unsecured notes due 6/15/14
$450 mil 5.6% senior unsecured notes due 5/15/15
$700 mil 2.6% senior unsecured notes due 11/23/15
$500 mil 5.7% senior unsecured notes due 2/15/17
$300 mil 5.8% senior unsecured notes due 3/15/18
$500 mil 5.9% senior unsecured notes due 06/15/19
$475 mil 2.7% senior unsecured notes due 3/13/23
$100 mil 8.875% debentures due 8/15/29
$300 mil 6.7% senior unsecured notes due 5/16/36
$475 mil 4.15% senior unsecured notes due 3/13/43
ACE INA Holdings Inc.
(all guaranteed by ACE Limited)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
Not an ACE operating entity
Rated 'axAAA' under S&P ASEAN regional credit rating scale
Rated 'cnAAA' under S&P Greater China regional credit rating scale
Negative Rating Outlook
Rated 'AA-' by Global Credit Ratings, a South African ratings agency
Rated 'AA-' and 'AA-' by Humphreys and Feller, respectively, Chilean ratings agencies
Rated 'AA-' by JCR-VIS Credit Rating Company Limited
Reflects an unconditional guarantee by ACE European Group Ltd of all of the Company's (re)insurance policy obligations
Rated locally by Apoyo & Asociados Internacionales (AAI), a Peruvian rating agency associated with Fitch
Rated 'A+' and 'A' by Humphreys and Feller, respectively, Chilean ratings agencies
Stable Rating Outlook