Hashtag: #ACE
ACE Establishes $95M Special Purpose Vehicle
ACE Limited has established a $95 million special purpose vehicle, Altair Re, to provide additional collateralized capacity for its global reinsurance business. The capital will be used to broadly support ACE Tempest Re’s global property catastrophe reinsurance portfolio. “Altair Re gives us additional capacity to meet the diversified property catastrophe... Read more of this article
ACE Reports Q4 Operating Income Of $492M
Bermuda-based ACE Limited reported net income for the quarter ended December 31, 2012, of $2.22 per share, compared with $2.15 per share for the same quarter last year. Evan G. Greenberg, Chairman and Chief Executive Officer of ACE Limited, commented: “ACE had a good fourth quarter, which contributed to an excellent year. Even with the impact of Superstorm... Read more of this article
ACE Expect $300M Loss From Superstorm Sandy
Bermuda-based ACE Limited said today [Dec 10] that preliminary losses in the fourth quarter for the ACE Group of companies from Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax, net of reinsurance and including reinstatement premiums. This estimate includes losses generated from the company’s... Read more of this article
ACE Insurance Internship For Bermuda Students
ACE Bermuda invites Bermudian university students, who are interested in pursuing a career in the insurance industry, to apply for its new insurance internship. ACE Select is a paid internship and will run from 27 May – 9 August 2013. It will offer six student positions. Successful interns can expect to gain a well-rounded understanding of the insurance... Read more of this article
ACE Bermuda’s Graduate Trainee Programme
ACE Bermuda announced the appointment of Kimberly Lewis as Assistant Underwriter in the Professional Lines Division following her successful completion of the company’s Underwriting Graduate Trainee Programme, and also said that Marco Greenidge has been selected as the 2012 Underwriting Graduate Trainee. The two-year graduate programme includes:... Read more of this article
ACE Ltd. Acquires 80% Of Indonesian Insurer
ACE Limited has acquired 80% of PT Asuransi Jaya Proteksi — which is based in Jakarta, Indonesia — and is one of Indonesia’s top 10 general insurers and a leader in personal lines. The company offers property, motor, accident and health insurance as well as commercial insurance coverages such as marine cargo and liability insurance and... Read more of this article
ACE Makes Three New Appointments
ACE today [Sept 18] 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. In his new role, Mr. Ashley will have responsibility for ACE... Read more of this article
ACE Ltd. To Acquire Fianzas Monterrey In Mexico
Bermuda-based ACE Limited announced today [Sept 12] that it has reached a definitive agreement to acquire Fianzas Monterrey in Mexico from New York Life Insurance Company for approximately $285 million in cash. Established in 1943 and headquartered in Mexico City, Fianzas Monterrey is Mexico’s second-largest surety lines company and the third largest... Read more of this article
Dunne, James Receive Ace Foundation Scholarships
The ACE Foundation has awarded scholarships to two outstanding young people, with 17-year-old Julia Dunne and 20-year-old Isaac James both receiving the education awards. Since 1996, the ACE Foundation – Bermuda has invested in excess of $2 million in the education of young Bermudians to help them prepare for professional careers in Bermuda’s... Read more of this article
2012 Clements Scholarship Applications Deadline
Named after one of the founding fathers of the Bermuda re/insurance industry, the closing date for the 2012 Robert Clements/ACE Scholarship applications is April 30. The scholarship is awarded annually to a qualified Bermudian student studying full time towards a degree in subjects related to the insurance industry such as insurance, risk management,... Read more of this article
ACE: Nick Rowse Named New CIO
ACE announced the appointment of Nick Rowse as Vice President, Chief Information Officer for Bermuda. In this role Mr. Rowse will be responsible for strategy and execution, as well as design, development and maintenance of systems and applications that support ACE’s Bermuda-based insurance and reinsurance operations. He will also work with ACE’s... Read more of this article
BLTA’s Inter-School Tournament
The Bermuda Lawn Tennis Association’s [BLTA] Inter-school tournament took place last week at the W. E. R. Joell Tennis Stadium. The inter-school tournament is part of the BLTA’s schools programme that has been sponsored by the ACE Group since 2000. The schools participating in the Middle School Division tournament are: Bermuda High School, Clearwater... Read more of this article
