ACE Ltd. has acquired Alta Cumbres Life Insurance Company.
ACE, Hamilton, Bermuda, is an insurer and reinsurer.
Altas Cumbres, Lima, is a Peruvian life insurer that has been owned by Grupo Altas Cumbres S.A., Santiago, Chile.
Altas Cumbres has been selling to consumers through a network of captive agencies, brokers and 100 branches of a retail bank owned by Grupo Altas Cumbres, ACE says.
Altas Cumbres has about 700,000 customers and specializes in selling accident insurance, group insurance and credit life insurance.