ACE Establishes International Excess Unit in Asia Pacific and Appoints Troy Sexton
March 29 2015 - 11:48PM
Business Wire
ACE Group announced today the creation of a new business unit –
ACE International Excess (AIE) – to provide commercial
property insurance on an excess basis targeting large companies in
the Asia Pacific region. The new business unit will be modelled
after ACE Bermuda International, ACE Group’s existing high excess
unit, and will provide coverage for exposures that are generally
low in frequency and high in severity. AIE will offer excess
property insurance in addition to the region’s existing capacity
for its property book of business. AIE’s coverage highlights
include:
- All-risk coverage on a follow form
basis (Property Damage and Business Interruption);
- Natural catastrophe covers;
- Power Generation, On-shore Energy and
Mining covers; and
- Engineering Insurances (Erection All
Risk/Construction All Risk/Boiler & Machinery).
Leveraging ACE Group’s global network, innovation and depth of
underwriting expertise, the new business unit will be backed by the
financial strength of ACE Group’s operations in the Asia Pacific
region. Those operations include ACE Insurance Limited (Singapore)
which is rated AA-/Stable by Standard & Poor’s (as of March
2015).
Troy Sexton has been appointed as Regional Head, ACE
International Excess, Asia Pacific and will be based in Singapore.
With 18 years of experience in the corporate insurance industry,
Mr. Sexton first joined ACE in 2002 as the company’s New Zealand
Property Manager. Between 2006 and 2009, he had a successful time
with ACE European Group based in London - first as ACE Emerging
Markets Property Manager and later as Continental Europe and
Central & Eastern Europe Property Manager. Since 2009, Mr.
Sexton has had the role of Strategic Property Manager, Asia
Pacific.
Mr. Sexton will report to Paul McNamee, Deputy Regional
President and Regional Head of Property & Casualty, who
commented, “With the Singapore market growing as the regional hub
for Asia Pacific, this is an opportune time to have someone of
Troy’s caliber in Singapore to lead this important initiative. We
are particularly fortunate to have Troy in this role given the
depth of his experience gained from both his stint in Europe and,
more recently, his time as Strategic Property Manager, Asia
Pacific.” As the global underwriting head of excess property, Rob
Rebellato, Executive Vice President, ACE Bermuda, also added, “As
ACE Group continues to expand its high excess property portfolio
geographically, having an underwriting unit in the Asia Pacific
region will improve our access to that growing market-place and
enable us to service our clients and brokers more effectively.”
About ACE Group
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance and life
insurance to a diverse group of clients. ACE Limited, the parent
company of ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. ACE's core
operating insurance companies are rated AA for financial strength
by Standard & Poor’s and A++ by A.M. Best.
ACE®, ACE logo®, and ACE insured® are trademarks of ACE
limited.
ACE GroupMichele Minjoot, +65-6398-8708Vice President & Head
of Communications, Asia Pacificmichele.minjoot@acegroup.com
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