NEW YORK, Dec. 21 /PRNewswire/ -- The Atlantic Companies(R) has entered into a definitive agreement to sell its high-net-worth personal lines business to The ACE Group of Companies. The transaction, subject to regulatory approvals and closing conditions, is expected to close within 30 days.

The acquisition encompasses the personal lines business of The Atlantic Companies, including certain systems, distribution arrangements and renewal rights. However, it excludes most of Atlantic's invested assets, and Atlantic's management believes that it will enhance Atlantic's ability to meet its ongoing obligations to policyholders and other parties by increasing policyholder surplus, reducing ongoing expenses, and improving liquidity for the ongoing commercial run-off operation.

Additional information about The Atlantic Companies can be found at www.theatlanticos.com.

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Source: The Atlantic Companies

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