HAMILTON, Bermuda, July 2, 2002 - ACE Limited (NYSE:ACE) today announced several promotions in its reinsurance operations.
The following ACE employees have been promoted to positions of increased responsibilities in ACE Global Reinsurance, ACE's reinsurance division that includes ACE Tempest Re operations in Bermuda, the United States and the United Kingdom:
David Furby, currently director of reinsurance at ACE Global Markets with responsibilities for ACE Tempest Re operations in the U.K., has been appointed president, ACE Global Reinsurance. Reporting directly to vice chairman and head of ACE's worldwide reinsurance operations, Evan Greenberg, Mr. Furby will oversee the continued development of ACE's reinsurance businesses. Mr. Furby joined ACE in 1996 with ACE's acquisition of the Ockham Syndicate and was promoted to Treaty Underwriter for Syndicate 219 at ACE Global Markets. In 1999, he was made director of Inwards Reinsurance for Syndicate 2488 and, in 2001, became Inwards and Outwards Reinsurance director for Syndicate 2488/ACE Global Markets.
Sean Ringsted, currently co-president of ACE Tempest Reinsurance Ltd., has been named executive vice president and chief risk officer, ACE Global Reinsurance, reporting directly to Mr. Furby. Mr. Ringsted has been with ACE for the past four years, having joined ACE Tempest Re in 1998 as senior vice president and chief actuary. He was promoted to co-president in April 2002. Mr. Ringsted came to ACE from CAT Limited, where he held the position of chief actuary of Hamilton Services Limited, CAT's service company. Prior to joining CAT, Mr. Ringsted worked as a consultant for Tillinghast-Towers Perrin in the U.S.
Chris McKeown, currently co-president of ACE Tempest Reinsurance Ltd., has been promoted to the position of president and chief executive officer, ACE Tempest Re, ACE's flagship reinsurance operation. Mr. McKeown, who joined ACE Tempest Re as Chief Underwriting Officer (USA) in 1998, will report to Mr. Furby and will have management responsibility for the continued growth and success of ACE Tempest Re. Mr. McKeown came to ACE from J&H Marsh & McLennan, where he served as managing director at the reinsurance subsidiary Guy Carpenter & Company. Mr. McKeown joined Guy Carpenter in 1984 working in New York and San Francisco.
"It gives me great pleasure to announce these promotions, which is well deserved recognition for three very talented executives," said Mr. Greenberg. "David, Sean and Chris have the knowledge, experience and leadership skills necessary to manage the growth of our reinsurance operations. I look forward to working with them as we continue to build this division into a major presence in the global reinsurance marketplace."
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.