ACE Global Re, the reinsurance division of the Bermuda-based ACE Group of Companies, announced that it is expanding its reinsurance capabilities in the finite risk reinsurance market.
“Both prospective and retrospective finite risk reinsurance structures will be marketed around the world under the ACE Tempest Re brand,” said the bulletin.
“ACE Tempest Re USA, based in Stamford, CT, will establish a new unit specializing in finite risk reinsurance products,” the announcement continued. “ACE Financial Solutions International, ACE’s financial services unit based in Bermuda, in addition to offering finite risk insurance products, now will offer new and renewal finite risk reinsurance products under the name ACE Tempest Re. ACE Financial Solutions in the US, based in New York, will continue to concentrate on finite risk insurance products for their client base.”
David Furby, ACE Global Re President and CEO, commented: “As a leading insurance and reinsurance company, ACE has developed significant expertise in finite risk insurance and reinsurance. Through this initiative, ACE Tempest Re will broaden its existing product range and place greater emphasis on finite risk reinsurance products, assigning the specialized resources needed to design programs to specifically meet the unique needs of our client base.”
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