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2004-09-28 ACE Limited (NYSE: ACE) 8-K

2004-09-28 ACE Limited (NYSE: ACE) 8-K

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-----BEGIN PRIVACY-ENHANCED MESSAGE-----Proc-Type: 2001,MIC-CLEAROriginator-Name: webmaster@www.sec.govOriginator-Key-Asymmetric:MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINenTWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQABMIC-Info: RSA-MD5,RSA,UuqcJ3Q92Gj+QrhnVO2Vde8VGWaXwtsTMnLGxKjFYXOkmwD/VvJTyg6AngdfSGqjbTvASV+WslOKI58T91o/xQ==<SEC-DOCUMENT>0001193125-04-162936.txt : 20040928<SEC-HEADER>0001193125-04-162936.hdr.sgml : 20040928<ACCEPTANCE-DATETIME>20040928123401 ACCESSION NUMBER:0001193125-04-162936CONFORMED SUBMISSION TYPE:8-KPUBLIC DOCUMENT COUNT:1CONFORMED PERIOD OF REPORT:20040922ITEM INFORMATION:Entry into a Material Definitive AgreementITEM INFORMATION:Termination of a Material Definitive AgreementITEM INFORMATION:Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantFILED AS OF DATE:20040928DATE AS OF CHANGE:20040928FILER:COMPANY DATA:COMPANY CONFORMED NAME:ACE LTDCENTRAL INDEX KEY:0000896159STANDARD INDUSTRIAL CLASSIFICATION:FIRE, MARINE & CASUALTY INSURANCE [6331]IRS NUMBER:000000000STATE OF INCORPORATION:D0FISCAL YEAR END:1231FILING VALUES:FORM TYPE:8-KSEC ACT:1934 ActSEC FILE NUMBER:001-11778FILM NUMBER:041049067BUSINESS ADDRESS:STREET 1:ACE BLDGSTREET 2:30 WOODBOURNE AVECITY:HAMILTON HM 08 BERMUSTATE:D0ZIP:00000BUSINESS PHONE:8092955200MAIL ADDRESS:STREET 1:P O BOX HM 1015CITY:HAMITON BERMUDSTATE:D0ZIP:00000</SEC-HEADER><DOCUMENT><TYPE>8-K<SEQUENCE>1<FILENAME>d8k.htm <DESCRIPTION>FORM 8-K<TEXT><HTML><HEAD><TITLE>Form 8-K</TITLE></HEAD><BODY BGCOLOR="WHITE"><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P> <PSTYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;marginSIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>FORM 8-K </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE=SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3">STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Pursuant To Section 13 or 15 (d)STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbSTYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Date of Report (Date of earliest event reported) &#150; September 22, 2004 </B></FONT></P> <P STYLE="margin-toSIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="centSIZE="6"><B>ACE LIMITED </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Exact name of registrant as specified in its charter) </B></FONT></STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center"><TR><TD WIDTH="33%"></TD><TD VALIGN="bottom" WIDTH="2%"></TD><TD WIDTH="31%"></TD><TD VALIGN="bottom" WIDTH="2%"></TD><TD WIDTH="32%"></TD></TR><TR><TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Cayman Islands</B></FONT></TD><TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD><TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>1-11778</B></FONT></TD><TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD><TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>98-0091805</B></FONT></TD></TR><TR><TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(State or other jurisdiction</B></FONT></P> <P STYLE="margin-top:0px;marginFACE="Times New Roman" SIZE="1"><B>of Incorporation)</B></FONT></P></TD><TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD><TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Commission File Number)</B></FONT></TD><TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD><TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(I.R.S. Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1pxFACE="Times New Roman" SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>ACE GlobalHeadquarters </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>17 Woodbourne Avenue </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0pxFACE="Times New Roman" SIZE="2"><B>Hamilton HM 08 Bermuda </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Address of principal executive ofSTYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Not applicableSTYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Former name or former address, if changed since last report) </B></FONT></P> <P STYLE="margin-top:0px;margin-SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE=appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction A.2. below): </STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"><TR><TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD><TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;marSIZE="1">&nbsp;</FONT></P><TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"><TR><TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD><TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;m SIZE="1">&nbsp;</FONT></P><TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"><TR><TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD><TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR></TABLE> <P STYLE="SIZE="1">&nbsp;</FONT></P><TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"><TR><TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD><TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE> <P STYLE="SIZE="1">&nbsp;</FONT></P><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"><p Style='page-break-before:always'><HR SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER"><TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"><TR><TD WIDTH="8%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B></B><B><I>I</I></B><B></B><B><I>tem&nbsp;1.01</I></B></FONT></TD><TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD><TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B><I>Entry into Material Definitive Agreements.</I></B><B> </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONSTYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">On September 22, 2004, ACE Limited, ACE Bermuda Insurance Ltd, ACE Tempest Life Reinsurance Ltd., and ACE Tempest(collectively the &#147;Account Parties&#148;), entered into two syndicated letter of credit reimbursement agreements (the &#147;LC Agreements&#148;) with the banks named therein, including various issuing b Association (&#147;Wachovia&#148;) as administrative agent. One LC Agreement permits the issuance of up to $850,000,000 of letters of credit on an unsecured basis. The other LC Agreement permits the issuancecredit on a secured basis, with the collateral consisting of various investment securities owned by one or more of the Account Parties. The LC Agreements replaced the following four letter of credit faciliti$1.4 billion of letters of credit): (i) a Reimbursement Agreement, dated as of September 25, 2003, among the Account Parties, the banks and other lenders named therein and Wachovia, as issuing bank and as ad$500,000,000 secured letter of credit facility for the benefit of the Account Parties, which would have expired on September 26, 2006, (ii) a Reimbursement Agreement, dated as of September 25, 2003, among thlenders named therein and Wachovia, as issuing bank and as administrative agent, providing for a $500,000,000 unsecured letter of credit facility for the benefit of the Account Parties, which would have expir$200,000,000 Insurance Letters of Credit &#150; Master Agreement, dated April 20, 1994, between ACE Tempest Reinsurance Ltd. (then known as Tempest Reinsurance Company Limited) and Citibank, N.A., and (iv) aLetters of Credit Agreement, dated November 20, 2003, with Barclays Bank PLC relating to the Lloyd&#146;s Dollar Trust Funds of Syndicate 2488, which would have expired on October 29, 2004. Upon the effectivoutstanding letters of credit issued under the replaced facilities were deemed to have been issued under the unsecured LC Agreement and the replaced facilities terminated. </FONT></P> <P STYLE="margin-top:0pxSIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Letters of credit issued under these agreements are used to satisfy the terms of c
http://www.sec.gov/Archives/edgar/data/896159/000119312504162936/0001193125-04-1629...1 of 2 8/12/11 4:14 PM

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