Competition hots up for Ace

In February this year, Standard & Poor's Ratings Services (S&P) removed from CreditWatch and affirmed its 'A+' counterparty credit and financial strength ratings on Ace's active operating insurance companies as well as its 'BBB+' counterparty credit rating on Ace. The outlook on these companies is negative.At the same time, S&P removed from CreditWatch its counterparty credit and financial strength ratings on Century Indemnity Co. and lowered them to 'CCC+' from 'B+'. The outlook on Century