LONDON--(BUSINESS WIRE)--
ACE Group today announced that it has been recognised for its
market-leading proposition for UK-based captive clients for the second
year running.
ACE won the ‘Innovation in fronting’ award at the second annual UK
Captive Services Awards, which recognise excellence in the delivery and
management of captive insurance services. The judging panel included
representatives from major multinational and UK companies across a
variety of industries, including construction, logistics, manufacturing,
retail and leisure.
The panel concluded that ACE has outperformed its peers in the area of
innovation, as measured against four key criteria: growth, client
satisfaction, genuine product innovation and adaptability in the face of
client demands and new regulation.
Clive Hassett, Director of Multinational Services for Europe at ACE,
said:
“Captives are a segment of great importance for ACE right across Europe
and our global network. This award recognises the flexibility and
breadth of our proposition, which extends from full and partial risk
transfer to fully-fronted programmes, captive management and
rent-a-captive services.
“In particular, it also reflects our continued investment in technology
developed to make the captive and risk manager’s job easier, which
includes the recent introduction of innovative new premium tracking and
claims tracking facilities on our market-leading ACE Worldview platform.”
Phil Sharpe, Chief Operating Officer for UK & Ireland Retail at ACE,
said:
“At a time when the UK insurance industry is sometimes criticised for
not being innovative enough, it is especially pleasing to be recognised
by a group of leading captive and insurance professionals for innovation
in fronting.
“This award, coming on the back of our award for customer service last
year, demonstrates our client-centric approach to doing business and the
significant investment that we continue to make to evolve our
infrastructure, skills and service for the benefit of all multinational
clients.”
ACE’s worldwide offering for captives encompasses full and partial risk
transfer, fully-fronted programmes, captive management and
rent-a-captive services. Through three wholly owned companies,
Bermuda-based ACE Alternative Risk Limited & Paget Reinsurance and
Delaware-based Pembroke Reinsurance, ACE provides licensed captive
management services to standalone single parent-owned captives for major
companies and protected cell solutions for organisations seeking the
benefits of a captive programme without the administrative cost and
capital required to form and manage a standalone captive.
About ACE:
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 the ACE
Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a
component of the S&P 500 index.
Visit www.acegroup.com/eu
or www.acegroup.com/uk
Source: ACE