ACE USA Forms Energy Risk Unit

October 10, 2005

ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announced the formation of ACE Energy, a new retail business unit which will focus on serving the complex insurance needs of the U.S. energy marketplace.

ACE Energy will direct its efforts on providing a variety of both property and casualty product offerings to serve its U.S. energy customers. The business will focus on offering a full suite of property and casualty products for energy related entities, including coverage for:

— On shore and off shore oil and gas facilities
— Power & utility generating facilities
— Inland marine, on a retail basis
— High-challenge facilities, such as mining
— Custom and excess casualty lines

“With the devastating impact on the energy markets caused by the spate of recent hurricanes, there is a heightened need for more and better risk management solutions available to the U.S. energy market,” said John Lupica, president and chief operating officer, ACE USA. “We feel that, with the resources available to ACE, we can play an important role in serving the needs of customers in this market. To that end, ACE Energy will have full access to ACE’s global underwriting and risk management resources.”

ACE Energy will be led by Chris Fisher, executive vice president. Fisher will join ACE USA from ACE Bermuda, where he serves as senior vice president, Property, with responsibility for the management of the company’s global property and first party specialty lines business. Prior to his position in Bermuda, Fisher worked in ACE USA’s global property office in Chicago, where he served as regional underwriting manager, responsible for Midwest and West Coast property operations. Fisher joined ACE Bermuda in 1995 as an underwriter in the company’s excess liability department. He has held posts with ACE Global Markets’ operations in Lloyds of London, where he worked with marine and non-marine syndicates and in the ACE Bermuda property department with responsibilities for various underwriting, catastrophe modeling and outwards reinsurance functions. Prior to ACE, he spent five years at BF&M General Insurance Co. Ltd. in various underwriting roles.

Fisher holds the Associate of the Chartered Insurance Institute (ACII) designation and earned a Bachelor of Arts degree in Geography from St David’s University College, Wales.

Also joining ACE Energy as chief underwriting officer will be Paul O’Neill, currently senior vice president, Inland Marine, ACE Westchester Specialty Group.

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