ACE Announces Appointment of Michael Furgueson.Business & Insurance Editors HAMILTON, Bermuda--(BUSINESS WIRE)--Oct. 16, 2002 ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) today announced the appointment of Michael Furgueson to the newly-created position of Executive Vice President, Financial Lines, ACE Overseas General. ACE Overseas General is a business segment in the ACE Group of Companies comprised of ACE International (ACE Europe, ACE Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , ACE Far East and ACE Asia Pacific) and ACE Global Markets, the Company's Lloyd's operation. Mr. Furgueson will report directly to Evan Greenberg, head of ACE Overseas General. He will report locally to Gary Schmalzriedt, President & Chief Executive Officer, ACE European Group. Mr. Furgueson will be responsible for all financial lines, including D&O, Professional Indemnity, Financial Institutions and Fidelity Employment Practices Liability. In addition, Martin Firman Fir´man n. 1. In Turkey and some other Oriental countries, a decree or mandate issued by the sovereign; a royal order or grant; - generally given for special objects, as to a traveler to insure him protection and assistance. has been promoted to Senior Vice President, responsible for D&O, ACE Overseas General. Richard Pryce has been promoted to Senior Vice President, responsible for Professional Indemnity and Financial Institutions for ACE Overseas General. Both will report directly to Mr. Furgueson. Mr. Furgueson will be based in London. He comes to ACE from the International Division of Kemper Insurance Companies, where he was one of the founders of the Financial Insurance Solutions Division. Prior to joining Kemper, Mr. Furgueson spent 15 years at Chubb in positions of increasing responsibility, including a four-year posting to London as European zone manager. He most recently held the position of worldwide field operations manager See datacenter manager. . The ACE Group of Companies provides insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. for a diverse group of clients. The company conducts its business on a global basis with operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. in nearly 50 countries. Additional information can be found at www.acelimited.com. |
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