ACE Creates International Excess Unit in Asia Pacific; Appoints Sexton

ACE Group has created a new business unit – ACE International Excess (AIE)– to provide commercial property insurance on an excess basis for large companies in the Asia Pacific region.

The new business unit will be modeled after ACE Bermuda International, ACE Group’s existing high excess unit, and will provide coverage for exposures that are generally low in frequency and high in severity.

AIE will offer excess property insurance in addition to the region’s existing capacity for its property book of business. AIE’s coverage highlights include:

• All-risk coverage on a follow form basis (property damage and business interruption)
• Natural catastrophe covers
• Power generation, onshore energy and mining covers and
• Engineering insurances (erection all risk/construction all risk/boiler & machinery).

The new business unit will be backed by the financial strength of ACE Group’s operations in the Asia Pacific region. Those operations include ACE Insurance Limited (Singapore) which is rated AA-/Stable by Standard & Poor’s (as of March 2015).

Troy Sexton has been appointed as regional head, ACE International Excess, Asia Pacific, based in Singapore. With 18 years of experience in the corporate insurance industry, Sexton first joined ACE in 2002 as the company’s New Zealand property manager. Between 2006 and 2009, he worked for ACE European Group in London – first as ACE emerging markets property manager and later as Continental Europe and Central & Eastern Europe property manager. Since 2009, Sexton has had the role of strategic property manager, Asia Pacific.

Sexton will report to Paul McNamee, deputy regional president and regional head of property & casualty.

Source: ACE Group

Topics Excess Surplus Europe Property Chubb