August 26, 2016 7:48 AM ET

Insurance

Company Overview of ACE European Group Limited

Company Overview

ACE European Group Limited provides commercial insurance and reinsurance products for multinational corporations and local businesses, companies and affinity groups, insurers, and individuals in Europe, the Asia Pacific, the United States, Africa, the Middle East, and Latin America. The company offers property and casualty, accident and health, and specialty personal lines insurance products. Its products include property, primary and excess casualty, financial lines, surety, marine cargo, aviation, energy, political risks, excess and surplus risks, and construction related risks. The company also underwrites an accident and health, and travel insurance portfolio, which provides benefits and...

ACE Building

100 Leadenhall Street

London,  EC3A 3BP

United Kingdom

Founded in 1973

1,202 Employees

Key Executives for ACE European Group Limited

Chief Executive Officer, President, Executive Director and Chairman of Investment Committee
Chief Financial Officer and Executive Director
Age: 56
Executive Director, Chairman of ACE Tempest Re Europe and Division President of ACE Global Markets
Regional President of ACE UK & Ireland and Executive Director
President of Combined Insurance
Compensation as of Fiscal Year 2016.

ACE European Group Limited Key Developments

ACE European Group Ltd. Wins GBP 12.3 Million Multiple Awardees Contract for General Insurance Services

ACE European Group Ltd. won a GBP 12.3 million (initial estimated total value excluding VAT) multiple awardees contract award from Transport for London to provide general insurance services (Contract Award Notice No.: 2016/S 157-285693; Lot No.: 1).

ACE European Group Wins Multiple Awardees Contract for Insurance Services

ACE European Group won a multiple awardees contract award from Nottinghamshire Fire and Rescue Service to provide insurance services (Property and ancillary covers including Property, Business Interruption and Money). No contract amount was specified (Contract Award Notice No.: 2016/S 031-050543; Lot No.: 1).

ACE Group Announces Board Changes

ACE Group announced two appointments within its European management team, with immediate effect. Drazen Jaksic, currently Executive Vice President for Combined Insurance in Europe and Asia Pacific, has been appointed to the role of Senior Vice President, Accident and Health for Europe and Eurasia and Africa. In his new role, Drazen will be responsible for the performance and future development of ACE’s accident and health and life business across these regions. Drazen succeeds Pat Drinan, who has decided to move on from ACE after almost 13 years with the company. Drazen has more than 20 years of insurance industry experience in both the UK and Continental Europe. After working in various senior management roles, including at GE Capital and Prudential UK, he joined ACE in July 2012 as General Manager for Combined Insurance, Europe and subsequently assumed additional responsibility for Combined’s businesses in the Asia Pacific region. In his new role, Drazen will continue to be based in London, reporting to Andrew Kendrick, President of ACE European Group and Edward M. Levin, Senior Vice President, ACE Group, and Division President, Accident and Health, for ACE Overseas General. Rahim Firozali, currently General Manager of Combined Insurance in Portugal has been promoted to the role of General Manager for Combined in Europe, succeeding Drazen Jaksic. In his new role, Rahim will be responsible for the performance and future development of the Combined Insurance’s European operations, which currently include businesses in the UK, Portugal and Germany. Rahim joined Combined Insurance 18 years ago after working in investment banking. In 2010, he was appointed as General Manager for Combined in Portugal and legal representative for the Portuguese branch of ACE European Group Limited. In his new role, Rahim will continue to be based in Portugal and to lead the Combined Portugal business. He will report to Andrew Kendrick, President of ACE European Group, with a matrix reporting line into Brad Bennett, President of Combined Insurance.

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Recent Private Companies Transactions

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