ACE Ltd. CO Brian Duperreault announced that the company would restructuring its operations into two main groups, ACE U.S and Bermuda, and ACE International. Each group will be headed by its own chief executive.
Duperreault praised Dominic Frederico, who will head the U.S.-Bermuda Group, “for his managerial skill through the successful integration and return to underwriting profitability of the former CIGNA P&C operations.”
John Charman, currently CEO of ACE Global Markets will assume overall responsibility for a combined group, which includes ACE Global Markets and the company’s subsidiaries in Europe, Latin America, Asia pacific and the Far East. Duperrault noted his efforts in establishing ACE’s presence in the Lloyd’s market.
Duperreault announced additional changes in management and operations, and said that following the integration of CIGNA’s operations, “the time is right to focus on achieving global operational efficiencies in order to maximize future profitability.”|”ace, divides, operations, -, establishes, two, main, groups
Was this article valuable?
Here are more articles you may enjoy.