ace ltd (ACE) Key Developments
ACE Promotes Amir Ghaffar to Head of Corporate Distribution, Accident & Health for Asia Pacific
Aug 25 15
ACE Group announced the promotion of Amir Ghaffar to the role of Vice President & Head of Corporate Distribution, Accident & Health for Asia Pacific. Mr. Ghaffar was previously the Executive Vice President for ACE Jerneh Insurance Berhad, ACE's operations in Malaysia. In this new role, Mr. Ghaffar will focus on expanding the corporate distribution channels, in particular, the large corporate and mid-tier brokers and agents across the region. He will also be responsible for broadening the product breadth within the brokerage market where employee benefits have become a key focus for organizations in the region. Mr. Ghaffar will be based in Singapore and will report to Glen Browne, Senior Vice President & Regional Head of Accident & Health for ACE in Asia Pacific.
ACE Limited Declares Quarterly Dividend, Payable on October 21, 2015
Aug 13 15
The Board of Directors of ACE Limited declared a quarterly dividend equal to $0.67 per share, payable on October 21, 2015, to shareholders of record at the close of business on September 30, 2015.
ACE Group Launches Two New D&O Insurance Products
Aug 13 15
ACE Group has launched two new D&O insurance products. ACE D&O ProElite Domestic 2015 is designed to reflect the continuously evolving risk environment in the area of liability and claims against directors and officers. The new policy offers additional and innovative coverage enhancements and is suitable for companies in all sectors and of all sizes, private and listed, including large multinationals. The product's features include among others, preservation of Side A limit, professional and contractual liability cover, as well as a legal and a crisis communications helpline. The cover can also be structured as a multinational insurance programme. D&O Express has been designed for the needs of brokers and their small and medium-sized clients. The new product is available online and provides cover through a simplified underwriting process, which allows for the instant online issuing of D&O policies and quotes, with complete privacy. Additionally, brokers are able to change information included in contracts such as expiry dates, addresses and term and conditions, online and without delay. Furthermore, the product offers an extended reporting period of up to twelve years and an unlimited extended reporting period for retired insured persons. D&O Express is the first product to be included in ACE's new EASYACE insurance proposition in Germany, providing efficient service to brokers and their small and medium- sized commercial clients.
ACE Group Appoints Ghassan Wazen as Head of North Africa
Aug 12 15
ACE Group announced the appointment of Ghassan Wazen, currently Regional Business Development Manager for ACE in MENA, to the new role of Head of North Africa, as it continues to build its management capabilities within Eurasia and Africa, its newest geographical business region. In his new role, Ghassan will oversee the performance, future development and strategy of ACE’s North Africa operations. Ihab ElAwady, Country President for Egypt and Kamal Kaabi, General Manager for Tunisia will now report to Ghassan. Ghassan’s joined ACE in France in 1986 where he held various positions within underwriting, claims and finance before being appointed Head of Accident & Health and Personal Lines for France in 2003. He moved to MENA in July 2007 as Country President for ACE in Egypt and Regional Manager for Accident and Health, MENA before taking up his current role as Business Development Manager, MENA in 2013. His appointment is effective immediately and he will report to Mojgan Khoshabi, Regional Managing Director for ACE in MENA.
ACE Group Launches ACE Commercial Partner for UK and Ireland Businesses
Aug 11 15
ACE Group announced the launch of ACE Commercial Partner, a comprehensive single property and liability package insurance policy for businesses operating in the UK and Ireland. The cover responds to feedback from ACE’s national and regional broker panels requesting comprehensive, jargon
and warranty-free cover in a single, user friendly and easy to navigate policy document. Key benefits of ACE Commercial Partner include: Clear and simple cover across six priority risk areas: property damage, business interruption, employers’ liability, public and products liability, ComputerGuard, terrorism. A wide range of extensions with meaningful limits, including for emerging risks such as greening reinstatement (£25,000) and fly tipping (£25,000). Options to extend cover to include claims preparation costs (£50,000 for any one claim, £100,000 for any one period of insurance). ACE Commercial Partner is designed to meet the needs of domestic businesses across a wide range of industries with turnover between £2 million to £500 million (€3 to £500 million) and no overseas operations.