The ACE Group of Companies announced that the ACE Foundation - International has made a $1 million contribution to the Red Cross Society of China to support emergency relief efforts following the earthquake that struck China's Sichuan Province.

ACE conducts property and casualty insurance, life insurance and asset management operations in China through its strategic investment in the Huatai group of insurance companies.

The company is the second big insurer to announce a donation for China earthquake relief. Last week Warren, N.J.-based Chubb Corp. said it has established a $1 million fund for disaster relief efforts related to the China earthquake and Myanmar cyclone.

ACE said that while all Huatai employees in the impacted area have been accounted for, several life agents are still missing, and many employees in the area have lost family members.

Evan G. Greenberg, chairman and chief executive officer of ACE Limited, said, "The earthquake that struck Sichuan Province is a terrible human tragedy with substantial loss of life, catastrophic damage and millions left homeless. We are thankful that our Huatai colleagues are lending assistance to others in need. All of us at ACE express our deepest sorrow to those who have experienced loss, and our hearts go out to the Chinese people."

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor's 500 stock index, the ACE Group of Companies conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.

Special Reports /

ACE Donates $1 Million For China Relief

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