Brian Duperreault to Retire from ACE Limited, Serve as Non-Executive Chairman of the Board.HAMILTON, Bermuda -- ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) announced today that Brian Duperreault, Chairman of the Board, will retire from the Company, effective June 1. Mr. Duperreault will continue to serve ACE in the role of Non-Executive Chairman of the Board of Directors. Mr. Duperreault joined ACE in 1994 as Chairman, President and Chief Executive Officer following more than 25 years of service with American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. . In May 2004, he presided over a successful management transition plan and became Chairman of the Company. In his 12 years with the Company, Mr. Duperreault directed a growth and diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. strategy marked by numerous acquisitions, including the 1999 acquisition of the global property and casualty operations of CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) Corporation. Evan Greenberg, President and Chief Executive Officer of ACE Limited, stated: "It is with great emotion that we announce the retirement of Brian Duperreault. Brian transformed ACE from a Bermuda-based specialty writer into a global multi-line corporation. He leaves a legacy of extraordinary leadership and vision that is evidenced today by the company's strength and vitality. On behalf of all our directors and employees, past and present, as well as all of our shareholders, I want to thank Brian for his enormous contribution to ACE." The ACE Group of Companies is a global leader in 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. serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide 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 more than 50 countries. Additional information can be found at: http://www.acelimited.com. |
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