ACE Announces New Leaders for UK and Ireland Retail Insurance and EMEA Accident and Health Insurance Businesses - Yahoo Finance

LONDON--(BUSINESS WIRE)--

ACE Group today announced a number of leadership changes within its Europe, Middle East and Africa (EMEA) region.

UK and Ireland Retail

David Robinson, Executive Vice President, Financial Lines for ACE Overseas General, has been promoted to the position of Regional President, UK and Ireland with responsibility for ACE's retail insurance operations in those two countries. Based in London, he will report to Andrew Kendrick, Chairman, ACE European Group and will become a Director of ACE European Group Limited. He replaces Richard Pryce, who is leaving after a total of 30 years of service at ACE and a predecessor company.

David has over 20 years of insurance industry experience and has been with ACE for eight of those as Executive Vice President, Financial Lines for ACE Overseas General. In this role, he set the strategy for the financial lines business for all regions outside North America, ensuring underwriting profitability across each product and region. Prior to joining ACE, he worked in a number of financial lines roles with responsibility for both the UK and Europe.

At the same time, Phil Sharpe, Director of Casualty and Major Risks for UK and Ireland, has been promoted to the position of Chief Operating Officer, UK and Ireland Retail Insurance, reporting to David. Phil has 30 years of experience in the London insurance market and joined ACE in 2008.

Matthew Shaw, Division President, ACE Global Markets and Active Underwriter for Syndicate 2488, will retain responsibility for ACE European Group's wholesale business underwritten in the London market and at Lloyd's through ACE Global Markets. He also remains Chairman, ACE Tempest Re Europe. He will now report directly to Andrew Kendrick.

The above changes take place with immediate effect.

EMEA Accident and Health

Pat Drinan, Director of Corporate Risks for UK and Ireland, has been promoted to the position of Regional Senior Vice President, Accident and Health for EMEA and will also assume responsibility for ACE's life insurance operations in the region. Pat joined ACE in 2003 and has held successive positions of increasing responsibility within its UK and Ireland business. This appointment will take effect on 1 July 2012.

Pat replaces Andy Hollenberg, who has accomplished significant growth, profitability and market presence for ACE's Accident and Health business in the EMEA region. Andy has been promoted to a position of greater responsibility in another ACE region and his new appointment will be announced shortly.

Andrew Kendrick, Chairman of ACE European Group, said:

"We are delighted to promote four senior ACE Executives to positions of greater responsibility within the Group, highlighting ACE's deep bench strength."

"David and Phil, who both have strong underwriting backgrounds, are among the very best professionals in their field. Together, they will be a powerful combination. I have worked with David for the past eight years and his considerable industry experience, combined with his strong talent and drive, mean that there is no better candidate to take forward our retail insurance business in the UK and Ireland. Supported by Phil's deep market knowledge and extensive experience of working with intermediaries and clients, the business will also be perfectly positioned to respond to the evolving needs of our customers."

"I would like to thank Andy for his valued contribution over the past four and a half years. He leaves a strong and growing Accident and Health business in EMEA and there is nobody better equipped than Pat to lead it through its next stage of growth. Pat's extensive experience of underwriting, distribution management and driving forward the regional Accident and Health strategy in the UK will be invaluable."

"I also want to express my gratitude to Richard Pryce for his contribution to ACE over the last 30 years. It is in no small part thanks to Richard's leadership that the UK and Ireland business has come through a difficult economic period in such great shape. He moves on with our thanks and very best wishes."

All appointments remain subject to the relevant regulatory approvals.

About ACE:

ACE Group is one of the world's leading global commercial property and casualty insurance organisations. ACE has a physical presence in 53 countries, and commercial and individual customers in more than 170 countries.

ACE European Group is part of the ACE Group, a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE - News), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. ACE's core operating insurance companies – including ACE European Group Limited – hold financial strength ratings of AA- (Very Strong) from Standard & Poor's and A+ (Superior) from A.M. Best.

ACE UK & Ireland's five regions are:

∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow) ∙ The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙ London and South East (London, Maidstone, Reading, Watford)

Visit www.acegroup.com/uk and www.acegroup.com/eu

18 May, 2012