Changes to be effective upon completion of the company’s acquisition
of the Fireman’s Fund U.S. high net worth business
NEW YORK--(BUSINESS WIRE)--
ACE Group announced today leadership appointments for its ACE Private
Risk Services business that will be effective when the acquisition of
the U.S. high net worth personal lines insurance business of Fireman’s
Fund is completed. The transaction, announced in December, is slated to
close in the second quarter of this year.
James Williamson will serve as Division President of ACE Private Risk
Services. Currently Chief Operating Officer for ACE’s International
Accident & Health insurance business and formerly the Chief Operating
Officer of ACE’s Global Personal Lines and Small Commercial Business
division, Mr. Williamson will be responsible for ensuring the successful
integration of the two companies and leading the combined business’s
profitable growth. He will report jointly to Juan Andrade, Executive
Vice President, ACE Group, Personal Lines and Chief Operating Officer of
ACE Overseas General, and John Lupica, Vice Chairman, ACE Group and
Chairman, Insurance – North America.
Mary Boyd will serve as Deputy Division President and will report to Mr.
Williamson. Currently Division President of ACE Private Risk Services,
Ms. Boyd will lead underwriting, product management, analytics,
actuarial, IT, and project management. She will also be responsible for
business operations in Canada.
Eric Shanks will join ACE as Senior Vice President and lead product
management and analytics at ACE Private Risk Services. Mr. Shanks is
currently Senior Vice President responsible for product management and
high net worth underwriting at Fireman’s Fund Personal Insurance. He
will report to Ms. Boyd.
Robert Haibi will join ACE as Senior Vice President and co-lead the ACE
Private Risk Services distribution organization. Currently the national
distribution executive at Fireman’s Fund Personal Insurance, Mr. Haibi
will have responsibility for ACE’s relationships with its largest
national and global distributors, training and best practices, as well
as regional distribution responsibilities for the western and central
regions. He will report to Mr. Williamson.
Annmarie Camp, who currently leads the ACE Private Risk Services
distribution organization, will co-lead the new distribution
organization with Mr. Haibi. Ms. Camp will have national distribution
responsibility for the company’s Premier and High Net Worth segments, as
well as for all marketing and communications. In addition, she will have
regional responsibility for the northeast and southern regions. Ms. Camp
will report to Mr. Williamson.
William McDuffie, currently Field Service Operations Executive at
Fireman’s Fund Personal Insurance, will join ACE Private Risk Services
as the lead Operations Executive. Mr. McDuffie will report to Mr.
Williamson.
Tiffany Alvey, currently Vice President of Claims at Fireman’s Fund
Personal Insurance, will join ACE as Deputy Head of Claims and report to
Clyde Douglas, Chief Claims Officer for ACE Private Risk Services.
Christopher Donahue, Chief Underwriting Officer for ACE Private Risk
Services, will remain in his current role and will report to Ms. Boyd.
Robert Courtemanche, currently Chairman of ACE Private Risk Services,
will continue in his role through the close of the transaction. He plans
to retire from ACE but will continue to provide his guidance and
expertise to the organization until early in the fourth quarter of 2015.
“I’m pleased to announce this leadership team, which brings the best of
both organizations together — professionals with a proven track record
of success. Together, they will lead the finest high net worth personal
lines insurer with superior service standards, talented professionals
and global reach,” said Mr. Andrade. “In particular, I want to express
my confidence in Jim Williamson as the new leader of ACE Private Risk
Services. Jim has distinguished himself by his strong leadership, a deep
underwriting background, and a record of successful execution. I also
want to acknowledge the important contributions of Bob Courtemanche to
ACE over the years and thank him for helping ensure the success of the
new business. Bob’s leadership, experience and market relationships have
been critical to the growth of ACE Private Risk Services.”
Mr. Andrade concluded: “We are making excellent progress with our
acquisition plans and are on track to close the transaction according to
schedule. We are excited by the potential of this new business and how
it will provide an even higher level of service and protection for
clients with sophisticated insurance needs, wherever they might be
around the world.”
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. Additional information can be found at: www.acegroup.com.
Cautionary Statement Regarding
Forward-Looking Statements:
All forward-looking statements made in this press release, related to
the acquisition of the Fireman’s Fund high net worth personal lines
business, and expected hiring and appointments, reflect ACE’s current
views with respect to future events and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Such statements involve risks and uncertainties, which may cause
actual results to differ materially. The acquisition has not closed, its
completion is subject to certain conditions and it is not certain that
it will be completed. Similarly, the personnel moves described in
this press release are not yet effective and are subject to change; if
the transaction were to not close, ACE would reconsider its personnel
needs. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the dates on which
they are made. ACE undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: ACE Group