ACE European Group Announces D&O Management Changes.Business Editors LONDON--(BUSINESS WIRE)--Oct. 20, 2003 ACE European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Group has announced some changes to its Directors & Officers (D&O) management team for the UK and Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. . In order to capitalise Verb 1. capitalise - supply with capital, as of a business by using a combination of capital used by investors and debt capital provided by lenders capitalize on significant growth opportunities in the regions, Julian Julian or Julian the Apostate Latin Julianus Apostata orig. Flavius Claudius Julianus (born AD 331/332, Constantinople—died June 26/27, 363, Ctesiphon, Mesopotamia) Roman emperor (361–363), noted scholar and military leader. Elms will take on the newly created role of UK and Ireland Regional D&O manager. Julian will be responsible for all UK and Ireland D&O 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. activities supporting ACE's extensive regional branch network in further developing the D&O business. To support growth in national D&O business, Patrick Drinan will take on the role of UK and Ireland D&O manager. Based at the ACE European Group's London headquarters, Patrick will also retain his current responsibility as ACE Overseas General Underwriting Officer for Financial Lines. Both roles will take effect from 1st November. Michale Furgueson, Executive Vice President Financial Lines said; "ACE European Group is keen to further strengthen its capabilities and be in a position to better respond to the increased desire for D&O cover, in light of the increased regulatory and legal scrutiny directors and officers are facing in the UK and Ireland. Creating the new role of regional D&O Manager, supported by an experienced underwriting professional such as Patrick Drinan, demonstrates ACE's commitment to its regional growth plans and the importance to ACE of the D&O and Financial Lines business." Notes to Editors -- ACE European Group has regional offices in Birmingham, Bristol, Crawley, Dublin, Glasgow, Leeds, Maidstone, Reading, Southampton, Watford as well as its London headquarters. 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 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. |
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