The acquisition of Chubb Corp by Zurich-based ACE in a $28.3 billion cash-and-stock deal has been touted as one of the largest M&A deals this year. In this close game, the global insurance playing field which earlier had five major players, now has only three — ACE/Chubb, American International Group and Privilege Underwriters’ PURE Group of Insurance Companies. Downward pricing pressure and fierce competition may most likely be the reason for M&A in the near future as well. With Chubb’s stock rising by 30% and ACE’s by 5%, it is safe to say that they got the cure they needed.