ACE Announces Promotions in Global Reinsurance Operations.Business Editors ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) today announced several promotions in its 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. operations. The following ACE employees have been promoted to positions of increased responsibilities in ACE Global Reinsurance, ACE's reinsurance division that includes ACE Tempest Re operations in Bermuda, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the United Kingdom: David Furby, currently director of reinsurance at ACE Global Markets with responsibilities for ACE Tempest Re operations in the U.K., has been appointed president, ACE Global Reinsurance. Reporting directly to vice chairman and head of ACE's worldwide reinsurance operations, Evan Greenberg, Mr. Furby will oversee the continued development of ACE's reinsurance businesses. Mr. Furby joined ACE in 1996 with ACE's acquisition of the Ockham Syndicate and was promoted to Treaty Underwriter for Syndicate 219 at ACE Global Markets. In 1999, he was made director of Inwards Reinsurance for Syndicate 2488 and, in 2001, became Inwards and Outwards Reinsurance director for Syndicate 2488/ACE Global Markets. Sean Ringsted, currently co-president of ACE Tempest Reinsurance Ltd., has been named executive vice president and chief risk officer, ACE Global Reinsurance, reporting directly to Mr. Furby. Mr. Ringsted has been with ACE for the past four years, having joined ACE Tempest Re in 1998 as senior vice president and chief actuary actuary One who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. . He was promoted to co-president in April 2002. Mr. Ringsted came to ACE from CAT Limited, where he held the position of chief actuary of Hamilton Services Limited, CAT's service company. Prior to joining CAT, Mr. Ringsted worked as a consultant for Tillinghast-Towers Perrin in the U.S. Chris McKeown, currently co-president of ACE Tempest Reinsurance Ltd., has been promoted to the position of president and chief executive officer, ACE Tempest Re, ACE's flagship reinsurance operation. Mr. McKeown, who joined ACE Tempest Re as Chief Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Officer (USA) in 1998, will report to Mr. Furby and will have management responsibility for the continued growth and success of ACE Tempest Re. Mr. McKeown came to ACE from J&H Marsh & McLennan, where he served as managing director at the reinsurance subsidiary Guy Carpenter Guy Carpenter was fictional character in the Australian soap opera Neighbours played by Andrew Williams from 1991 to 1992. Family Tree
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . "It gives me great pleasure to announce these promotions, which is well deserved recognition for three very talented executives," said Mr. Greenberg. "David, Sean and Chris have the knowledge, experience and leadership skills necessary to manage the growth of our reinsurance operations. I look forward to working with them as we continue to build this division into a major presence in the global reinsurance marketplace." The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion