SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 9, 1998
ACE LIMITED
(Exact name of registrant as specified in its charter)
Cayman Islands 1-11778 Not Applicable
(State or other jurisdiction) (Commission (I.R.S.Employer of Incorporation
File Number) Identification No.)
The ACE Building
30 Woodbourne Avenue
Hamilton, Bermuda HM 08
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (441) 295-5200
Not Applicable
(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets.
On July 9, 1998, ACE Limited completed the acquisition of all of the
outstanding share capital of Tarquin Limited, a UK-based holding company which
owns Lloyd's managing agency Charman Underwriting Agencies Ltd. and Tarquin
Underwriting Limited, its corporate capital provider. In the acquisition, ACE
issued approximately 14.3 million ordinary shares to the shareholders of
Tarquin.
Included as Exhibit 99.3 to this Current Report on Form 8-K is a copy of
the press release dated July 9, 1998 announcing such completion.
Item 7. Financial Statements and Exhibits.
(a) Audited Financial Statements of Traquin Limited.
See Exhibit 99.1
(b) Pro Forma Financial Information
See Exhibit 99.2
(c) Exhibits.
2.1 Share Purchase Agreement dated 15 June 1998, by and among J.R.
Charman & Others, Charman Group Limited, Tarquin Limited and ACE Limited
99.1 Audited Financial Statements of Tarquin Limited as of December 31,
1997 and 1996 and for the years ended December 31, 1997, 1996 and 1995.
99.2 Unaudited Pro Forma Condensed Consolidated Financial Information of
ACE Limited.
99.3 Press release, dated July 9, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: July 24, 1998 ACE LIMITED
By: Christopher Z. Marshall
-----------------------
Christopher Z. Marshall
Chief Financial Officer
EXHIBIT INDEX
Exhibit
Number Description
- ------ -----------
2.1 Share Purchase Agreement dated 15 June 1998, by and among J.R. Charman
& Others, Charman Group Limited, Tarquin Limited and ACE Limited
99.1 Audited Financial Statements of Tarquin as of December 31, 1997 and
1996 and for the years ended December 31, 1997, 1996 and 1995
99.2 Unaudited Pro Forma Condensed Consolidated Financial Information of
ACE Limited.
99.3 Press release, dated July 9, 1998