Ace To Buy Back $1.5 Billion Of Shares In 2015

Ace Ltd. said it's board has approved a share buyback program of $1.5 billion for 2015, replacing its current program which will expire at the end of December. The insurer also declared a quarterly dividend equal to 65 cents payable Jan. 5 to shareholders of record as of the close of business Dec. 17. Shares were not yet active in premarket trade, but have gained 8.7% in the year so far, while the S&P 500 has gained 11.6%.