ACE Europe Announces 3 New P/C Business Units for U.K., Ireland

ACE European Group announced the creation of three new business units “to target growth opportunities in specific property and casualty (P&C) business lines in the UK and Ireland.” The new units are ACE Commercial Risks, ACE Affinity Risks and ACE Major Risks.

ACE said the new units are part of its “continuing strategy of improving its regional offering to brokers and customers, through the creation of dedicated teams focused on key commercial business segments.” While each unit will have a distinct business focus, all three “will provide ACE’s network of branch offices with access to skilled underwriting and product development teams to support brokers and their customers,” said the announcement.

ACE described the new operations as follows:
— ACE Commercial Risks focuses on medium sized companies, offering both package and single line P&C solutions. The unit is headed up by Rosemary Ness.
— ACE Major Risks focuses on multi-national businesses and FTSE 500 companies as well as captive related business. The unit is led by Mark Aaron for casualty business and Steve Walker for property lines.
— ACE Affinity Risks focuses on the development of scheme business through, binding authorities, group purchasing solutions and ACE’s online e-commerce platform, ACE ii. The unit is headed up by Tony Griffiths.

Carl Bach, President P&C, UK and Ireland commented: “ACE is committed to further developing its service and product offerings to the UK and Ireland regional markets. The creation of these new dedicated business units builds upon our existing investment in establishing a strong and responsive infrastructure to service these key growth markets. The new business units are all about delivering our underwriting and product expertise directly to brokers and their clients. This increased focus will help to ensure we remain responsive to their needs.”

The bulletin explained that “this move follows the recent restructuring of ACE’s UK and Ireland P&C operations into four distinct regions: North, Midlands and South West, London and the South East and Ireland. ACE services these regions from nine P&C branch offices in Manchester, Leeds, Newcastle, Glasgow, Birmingham, Southampton, London, Watford, Maidstone and Dublin.

“In addition, ACE continues to provide in the regional network of offices specialty underwriting capabilities such as Accident and Health, Financial Lines, Marine and Construction coverages. These specialty underwriting units will work closely with these new business units to tailor solutions for brokers and customers.”

The ACE European Group comprises the businesses of ACE Europe, ACE Global Markets and ACE Tempest Re (Europe).

Topics Commercial Lines Business Insurance Europe New Markets Property Casualty