Ace breaks into U.S. life Re market through Hart Life shell.Ace Ltd. is looking to expand its presence in the U.S. life 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. market with its acquisition of an inactive Hartford Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group shell that holds licenses in 49 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , the company said. Upon completion of its purchase of Hart Life Insurance Co. from Hartford, Acc will begin marketing U.S. life reinsurance under its own Ace Tempest Life Re brand. The unit will be based in Stamford, Conn., and will be led by Ronald Colligan, the former head of Guy Carpenter & Co.'s life and annuity practice. The unit will focus on offering yearly renewable term and coinsurance A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy according to a fixed percentage of the value for which the property, or the person, is insured. products to the individual life reinsurance market, Ace said. |
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