The historic, original Chubb Corporation was acquired by the major global property and casualty insurer ACE Limited in a cash-and-stock transaction valued at approximately $28.3 billion. Rather than being absorbed invisibly, the acquiring company chose to leverage the stellar global reputation and brand equity of its target; following the completion of the transaction, ACE Limited formally adopted the iconic Chubb name for the combined global enterprise, relocating its legal incorporation domicile to Zurich, Switzerland, while maintaining massive operational hubs in North America.