ACE Announces Future Leadership Team for Overseas General Insurance Commercial P&C Lines

ACE Limited

announced today the future commercial property and casualty lines leadership team it intends to appoint for the company's Overseas General Insurance division. The leadership appointments will take effect upon completion of the acquisition of Chubb, which is expected in the first quarter of 2016. The international commercial property and casualty (P&C) lines division will offer a full range of industrial commercial and specialty products for businesses of all sizes. Products include property, casualty, environmental, professional lines, energy and marine lines. The division will include two additional product and segment areas that strengthen the combined company's commercial P&C positioning: Custom Products, which is based on Chubb's recognized strengths in industry verticals and middle market packaged products, and international small-to-medium enterprise (SME) commercial insurance. As previously announced, David Furby will serve as Vice President of the new Chubb Group and Division President, Commercial Property & Casualty for the Overseas General Insurance division. The leadership team will include: As previously announced, Timothy O'Donnell will serve as Chief Operating Officer, Commercial Property and Casualty. Currently, Mr. O'Donnell is Executive Vice President, Professional Lines, ACE Overseas General, and he will retain those responsibilities in his new role. Neil Bennett will have overall responsibility for all reinsurance placements for the Overseas General Insurance division. Currently, Mr. Bennett is Executive Vice President, Global Reinsurance, ACE Overseas General. Roger Giddings will lead the international energy business. Currently, Mr. Giddings is Executive Vice President, Global Energy, ACE Overseas General. Jarrod Hill will lead the international property business. Currently, Mr. Hill is Executive Vice President, Property, ACE Overseas General. Mark Homan will lead the international casualty business. Currently, Mr. Homan is Executive Vice President, Casualty, ACE Overseas General. Richard Lambert will serve as Underwriting Operations Manager for the Commercial P&C division. Currently, Mr. Lambert is Vice President, European Zone Underwriting Manager of Casualty and Technology Insurance Specialty for Chubb. Alvaro Montenegro will lead the international small-to-medium enterprise commercial insurance business. Currently, Mr. Montenegro is Vice President and Latin America Zone Underwriting Manager, Chubb Commercial Insurance and Chubb Specialty Insurance. Karl Russek will lead international environmental underwriting. Currently, Mr. Russek is Senior Vice President, Environmental Risk, ACE Oversees General. Paul Sharpe will serve as Division Finance Officer. Currently, Mr. Sharpe is Division Finance Officer, Commercial P&C, ACE Overseas General. Pat Stoik will lead Custom Products. Currently, Mr. Stoik is Senior Vice President, Global Marine Manager for Chubb. Andrew Williamson will lead the international marine business. Currently, Mr. Williamson is Executive Vice President, Global Marine, ACE Overseas General. As previously announced, Mr. Furby will report to Juan C. Andrade, who will serve as Executive Vice President of the new Chubb Group and President of the Overseas General Insurance division. Messrs. O'Donnell, Giddings, Hill, Homan, Lambert, Russek and Williamson will report to Mr. Furby. Mr. Bennett will report to Mr. Furby and to William O'Farrell, who is Vice President and Chief Reinsurance Officer, ACE Group, and will continue in that role. Mr. Sharpe will report to Mr. Furby and to John Jones, who, as previously announced, will serve as Executive Vice President and Chief Financial Officer of the Overseas General Insurance division. Messrs. Montenegro and Stoik will report to Mr. O'Donnell. "I am pleased to announce this outstanding group of commercial P&C product line leaders. These individuals have deep experience and a proven track record," said Mr. Furby. "I am also excited to welcome our new colleagues from Chubb, who bring leadership and expertise that will enable us to enhance and expand our ability to maximize the great potential of our combined company." "ACE has built a powerful international commercial P&C business and the combination with Chubb makes us ever stronger," said Mr. Andrade. "The depth and breadth of our combined offering, the quality of our claims service and the strength of our agent, broker and distribution partner relationships will help position us as the carrier of choice for businesses of all sizes. I have every confidence in David and his strong team of leaders."