Allstate CEO: Ace deal OK

NORTHBROOK - Tom Wilson, the chief executive officer of insurer Allstate Corp., said that the deal by rival Ace Ltd. to purchase Chubb Corp. "makes sense" strategically and economically.

"They do enough of the same things where there's some cost saves there," Wilson said Thursday in a televised interview with Bloomberg's Betty Liu and Scarlet Fu. "They're complementary enough so they should be able to leverage their complementary skills."