Bermuda’s ACE Limited has announced the retirement of Don Kramer, executive – Office of the president & chief executive officer. Kramer, 67, has held his current position since May 2004 following his retirement from the ACE Limited Board of Directors.
Kramer joined ACE in 1996 as vice chairman following its acquisition of Tempest Reinsurance Ltd. (ACE Tempest Re), a company he founded and for which he served as chairman & CEO.
“In his latest role, Don has served as an effective ambassador for ACE, and a trusted advisor and confidante to me. During his tenure, Don played a prominent role in the growth of our organization, which is now one of the world’s largest and most successful property and casualty insurance companies,” stated ACE President and CEO Evan Greenberg. “On behalf of our Board of Directors and all my colleagues at ACE, I want to thank Don for his outstanding contribution to ACE. We are very pleased that Don has graciously agreed to continue serving our company in an advisory capacity. He is an asset to our organization, and we look forward to his continued counsel.”
Prior to his role with Tempest Re, Kramer was president of his own firm, Kramer Capital Corporation, and before that he was chairman of the Board and founder of NAC Re Corporation. He also served as chairman and director of Assured Guaranty Ltd. until May 2005, a company spun off from ACE Limited in 2004. Kramer is also chairman of the National Dance Foundation of Bermuda, a position he has held since September 2003.
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