EU Clears ACE’s Bid for Chubb

The European Commission approved the acquisition of The Chubb Corp. of the U.S. by ACE Ltd of Switzerland on Nov. 9. Both parties are in the insurance industry.

The commission staff’s simplified merger review showed that the parties’ resulting market position will be moderate and that there are several other competitors in this space.

For these reasons, the agency doesn’t expect the transaction to raise any anticompetitive concerns.