As of October first “ACE European Markets Insurance Limited and ACE European Markets Reinsurance Limited will trade under the business name of ACE Bermuda International (ABI),” said a bulletin on the ACE web site. “In addition, the legal company names will change to ACE Bermuda International Insurance (Ireland) Limited and ACE Bermuda International Reinsurance (Ireland) Limited, respectively.”
Anup Seth, ACE Bermuda International Managing Director, said the change is designed to “bring more clarity to the marketplace with regards to our business model and allow us to align the company more strategically with our parent company, ACE Bermuda.” He also indicated it would provide “us with the flexibility to continue our geographic growth and expand the reach of our products to clients within Europe and beyond.”
ABI also announced the opening of a new box at Lloyd’s, that began opezrations on October 1, “to further complement the company’s business development strategy.” It is located on Gallery 2 at Lloyd’s of London, 1 Lime Street, London and is the company’s third European location along with its offices at the International Financial Services Centre in Dublin and 100 Leadenhall Street, London.
Stephen French, Chief Underwriting Officer in ABI’s London branch office, commented: “This is a significant milestone in the ongoing development and expansion of ABI’s European and international business. The box gives us an additional distribution channel to reach and better serve our brokers and clients and provide access to our property, excess liability and professional lines capacity.”
ABI predominantly writes excess liability, excess property and professional lines business. ABI’s dual insurance and reinsurance platforms allow clients to access its capacity via direct insurance or through facultative reinsurance. The Dublin-based ABI operations were established in 1997 to provide low-frequency, high-severity excess capacity to European and international clients, following the underwriting discipline and guidelines developed by its parent company, ACE Bermuda. ABI opened a London-based branch office in 2000.
Source: ACE – www.acelimited.com
Topics Excess Surplus Europe Reinsurance London Lloyd's
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