The Philadelphia-based members of ACE INA, a part of the ACE Group of Companies, announced that Dominic J. Frederico, chairman of ACE INA Holdings Inc., will be the twenty-first recipient to receive the prestigious Franklin Award from the Philadelphia Chapter of the Chartered Property Casualty Underwriter (CPCU) Society.
Frederico will receive the award “for his leadership; work in advancing professionalism; continuing insurance education; innovations within the industry; and contributions to the community,” said the announcement. It’s to be presented at a special luncheon at the DoubleTree Hotel in Philadelphia on March 13, 2003, honoring Frederico. Pennsylvania Governor Edward G. Rendell will be the keynote speaker
“CPCU Philadelphia is pleased to honor Dominic for motivating his employees to pursue continuing insurance education,” stated Valerie Ullman-Katz, immediate past president of CPCU Philadelphia and chairman of the Franklin Award selection committee. “As one of the most respected and admired insurance executives, Dominic’s commitment to supporting the communities where ACE employees live and work has positively impacted the lives of others.”
Frederico joined ACE in 1995 as executive VP, Financial Lines (now ACE Financial Solutions International) of ACE Bermuda Insurance Ltd. (ACE Bermuda). In December 1996, he was appointed executive VP, Underwriting, ACE Bermuda, and in July 1997 was made president and CEO of ACE Bermuda. He oversaw the successful acquisition and integration of the domestic and international property casualty operations acquired by ACE from CIGNA Corp. in July 1999.
Prior to joining ACE, Frederico spent 13 years working for various AIG subsidiaries, most recently as senior VP and CFO of AIG Risk Management. Prior to that, Frederico was executive VP and CFO of UNAT, a wholly owned subsidiary of AIG headquartered in Paris.
“The Franklin Award is given annually to recognize outstanding achievement and contribution to the insurance industry in the Delaware Valley. Established by the Philadelphia CPCU chapter in 1983, the award recognizes persons or groups who have made a significant contribution to the insurance industry that is broad based and reflects high standards,” said the bulletin.