There was no immediate word on when the deal would come to market. ACE last accessed the bond market in March with a US$800m 3.15% 10-year deal that priced at T+95bp to yield 3.152%.

That bond, an expected comparable for any new issue, was trading at G+110bp on Wednesday morning.

Morgan Stanley is advising ACE on the acquisition, which is expected to close in the first quarter of 2016 and is subject to approval by shareholders of both companies.

(Reporting by Mike Gambale; Writing by Marc Carnegie; Editing by Jack Doran)

By Mike Gambale

Stocks treated in this article : Chubb Corp, ACE Limited