What is the main purpose of this 8-K filing?

The main purpose of this filing is to report the amendment of ACE Limited's Articles of Association, which formally implements the second quarterly installment of a par value reduction approved by shareholders, functioning as a dividend distribution.

How does the par value reduction translate to a dividend for shareholders?

The par value reduction is a mechanism to return capital to shareholders. Each installment, equivalent to US$0.31 per share, reduces the stated par value of the company's stock, effectively distributing cash to shareholders without altering the number of outstanding shares.

Will the amount of the par value reduction change?

Yes, while the second installment was fixed at CHF 0.31 (equivalent to US$0.31), the actual Swiss Franc amount for each future installment will be adjusted up or down to equal US$0.31 near the payment date. However, there is an aggregate cap of CHF 2.04 for the total reduction over all four installments.

When will shareholders receive this dividend payment?

The dividend, corresponding to this par value reduction installment, is scheduled for payment on October 13, 2009, to shareholders of record as of October 1, 2009.

CB 8-K: Corporate Changes

Summary

This 8-K filing from ACE Limited (now Chubb Ltd) on October 1, 2009, primarily reports on the company's amendment to its Articles of Association. This amendment was made to implement the second installment of a shareholder-approved par value reduction, which functions as a dividend paid in installments. The company fixed the par value reduction for this installment at CHF 0.31, based on the prevailing exchange rate at the time, with an overall cap on the total reduction over four installments. This action is a technical adjustment to reflect capital structure changes and a planned distribution to shareholders.

Key Highlights

1ACE Limited amended its Articles of Association on September 29 and October 1, 2009.
2The amendments are to implement a shareholder-approved dividend in the form of a par value reduction.
3The dividend will be paid in four quarterly installments.
4The second installment fixed the par value reduction at CHF 0.31 per share.
5This par value reduction is equivalent to US$0.31 per share for the quarter.
6The total par value reduction is capped at CHF 2.04 per share over the four installments.
7The amended Articles of Association became effective upon filing with the commercial register on October 1, 2009.

Chubb Ltd 8-K Report, Bylaw Amendment (Oct 1, 2009)

Summary

Key Highlights

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