ACE News

Allianz Profit Drops as Gross’ Exit Spurs PIMCO Asset Outflows

Allianz SE reported an unexpected decline in fourth-quarter profit as the exit of Bill Gross at Pacific Investment Management Co. (PIMCO) spurred clients to withdraw assets. The shares fell the most in five months. Net income fell to 1.22 billion …

ACE Launches Luxury Goods Practice for Continental Europe

ACE Group announced the launch of a new luxury goods practice across Continental Europe. The launch of the practice follows research by ACE where almost six in ten European luxury goods companies taking part reported that globalization has increased the …

ACE Appoints Stankiewicz as Head of Sales & Distribution, Nordics

ACE Group has appointed Martin Stankiewicz as head of sales and distribution, Nordics, as it continues to strengthen its insurance capabilities and team in the region. Stankiewicz has also joined ACE’s local management team. In this newly created role, Stankiewicz …

ACE Appoints Fedarb as Head of Travel Insurance for Eurasia and Africa

ACE Group today announced the appointment of David Fedarb to the new role of head of travel insurance for Eurasia and Africa, as it expands its insurance capabilities in a region experiencing rapid growth of international travel. Eurasia and Africa …

ACE Group Warns UK SMEs About Higher Fraud Risk in 1st Quarter

Fraud cases are on the rise and the profile of fraudsters is changing to include more young individuals seeking to fund extravagant lifestyles, according to ACE Group. As pressure on bank balances grows after the traditional Christmas excesses, ACE warns …

ACE Launches Cyber Risk Unit for Continental Europe

ACE Group announced the launch of a new, independent cyber risk business unit as it continues to strengthen its local underwriting and risk management capabilities across Continental Europe. The announcement follows research by ACE which indicates that cyber is a …

ACE Promotes Langdon to Global Head of Upstream Energy

ACE Group announced that James Langdon, Lloyd’s market manager for energy within ACE Global Markets, has been promoted to the new role of global head of upstream energy as the company continues to build its presence across the world’s energy …

ACE Authorizes $1.5 Billion of Share Buybacks

ACE Ltd., the Swiss insurer with operations in more than 50 nations, authorized $1.5 billion of share buybacks to take place in 2015. The plan replaces the authorization that expires at the end of this year, according to a statement …

Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’

A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective of …

Eight P&C Insurers Get Top Marks for Climate Change Risk Management

Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …