With rivals clearing out, Swiss insurer Ace (ACE) is getting closer to a purchase of New York...

|About: ACE Limited (ACE)|By:, SA News Editor

With rivals clearing out, Swiss insurer Ace (ACE) is getting closer to a purchase of New York Life's units in Hong Kong, Taiwan and South Korea, valued roughly at $500M-600M. Ace stayed profitable through the credit crisis and has already announced $1.3B in acquisitions this month.