ACE Says Exposure to Enron Not Significant

Bermuda’s ACE Limited took exception to its normal practice and issued a statement concerning rumors of its possible exposure to claims from bankrupt energy giant Enron, saying they were “not significant.”

“In light of recent media reports concerning insurer exposure to Enron losses, [See IJ Website, Dec. 3) ACE Stated today that it has reviewed its potential exposures to Enron, including directors and officers liability, financial guaranty, weather risk trading and other exposures, and believes that such exposures would not significantly impact future operating results,” said the company’s statement. It did not give any financial figures.