ACE share price holds up despite lawsuit from Connecticut AG

By David Marchant

20 years ago

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Keywords

ACE Ltd. Bermuda Insurance Market Marsh & McLennan

The share price of Bermuda-based ACE Ltd. has been unaffected by a lawsuit alleging that one of its subsidiaries paid a $50,000 bribe to broker Marsh & McLennan to secure an $80 million state contract.
ACE’s shares ended January at $43.40 per share on the New York Stock Exchange, virtually unchanged from the day before the complaint was filed at Connecticut Superior Court by the State of Connecticut on January 21, 2005. The price was 19 per cent higher than the day before the Marsh scandal began on October 14, 2004.

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