ACE to Acquire Rain and Hail Insurance Service, Inc. for $1.1 Billion

ACE Limited ACE announced today that it has signed a definitive agreement to acquire all of the outstanding common stock of Rain and Hail Insurance Service, Inc. not currently owned by ACE for approximately $1.1 billion in cash. A pioneer in crop insurance that has served America's farmers since 1919, Rain and Hail, headquartered in Johnston, Iowa, is the second largest crop insurance underwriter, providing comprehensive multiple peril crop and crop-hail insurance protection to customers in the U.S. and Canada. ACE currently owns approximately 20% of the outstanding common stock of Rain and Hail, which will continue to operate as a separate and distinct franchise within the company's ACE Westchester division and Insurance-North America operations.