ACE conducts P&C, life insurance and asset management in China through Huatai

The ACE Foundation – International has made a $1m contribution to the Red Cross Society of China to support emergency relief efforts following the earthquake that struck China’s Sichuan Province.

ACE conducts property and casualty insurance, life insurance and asset management operations in China through its strategic investment in the Huatai group of insurance companies.

While all Huatai employees in the impacted area have been accounted for, several life agents are still missing, and many employees in the area have lost family members.

“The earthquake that struck Sichuan Province is a terrible human tragedy with substantial loss of life, catastrophic damage and millions left homeless,” said Evan Greenberg, chairman and chief executive officer of ACE Limited.

“We are thankful that our Huatai colleagues are lending assistance to others in need. All of us at ACE express our deepest sorrow to those who have experienced loss, and our hearts go out to the Chinese people.”