Philip Bancroft

On June 10, 2009, a federal judge in Philadelphia gave final approval to the $1.95 million settlement of a class action complaint alleging bid rigging against ACE Ltd. and three current or former officers that was agreed by the parties

Class action law firms in the United States are targeting at least two Bermuda insurers and their officers as a result of Eliot Spitzer's investigation into alleged bid-rigging at broker Marsh & McLennan.At least three separate class actions alleging securities fraud have already been filed against ACE Ltd. and two against AXIS Capital Holdings Ltd. at federal courts in New York and Pennsylvania.