Ace Ltd. Chief Executive Officer Evan Greenberg said the influx of Wall Street capital into the reinsurance industry is pressuring rates and that he is prepared to cut sales of backstop coverage. Prices for catastrophe reinsurance have declined about 5 …
Ninety-two percent of companies believe that reputational risk is the most challenging category of risk to manage, according to a major new study from ACE Group conducted across 15 countries within its EMEA (Europe, Middle East and Africa) region. ACE’s …
The ACE Group has increased catastrophe limits to $30 million across all its North American retail and wholesale broker-distributed commercial property lines of business. This capacity will be offered through ACE’s network of property businesses, which includes fronting and captive …
Auto lender Ally Financial, which is 74 percent-owned by the U.S. government, will sell its Mexican insurance business to insurance and reinsurance company ACE Ltd for $865 million in cash as it looks to focus on its U.S. operations. Ally, …
ACE has announced three appointments in its ACE Tempest Re Bermuda reinsurance unit: Wayne Ashley as Chief Underwriting Officer, International; Graeme Henderson as Vice President, International; and Darin Cassidy as Vice President, USA. All will be based in Hamilton, Bermuda. …
ACE Limited announced that it has acquired 80 percent of Indonesian insurer PT Asuransi Jaya Proteksi. The Jakarta-based company is “one of Indonesia’s top 10 general insurers and a leader in personal lines,” said the bulletin. “The company offers property, …
ACE American Insurance Company recently filed a lawsuit against OneBeacon U.S. Holdings Inc. In its lawsuit, filed in Pennsylvania, ACE alleges that OneBeacon poached the entire eight member-team that made up ACE’s East Coast Surety Department. What’s more, ACE charges …
The ACE Group announced that Darryl Page has been named Division President, International Personal and Business Insurance. He will lead ACE’s personal lines and small and mid-size commercial insurance operations in Asia Pacific and Japan, Latin America, and Europe, the …
ACE Westchester, the U.S.-based wholesale-focused insurance division of the ACE Group, appointed Richard Luca as vice president of management liability for its professional risk division. He is based in the greater New York City area. Luca will have national responsibility …
The ACE Group has announced new leadership appointments in its Canadian operations. Andrew Hollenberg, Regional Senior Vice President, Accident & Health (A&H) and Life for ACE Europe, has been appointed Country President, ACE Canada. He will oversee ACE’s property and …
