HAMILTON, Bermuda, April 21, 2003 - ACE Bermuda Insurance Ltd. (ACE Bermuda), today announced the promotion of Klaus Gebhardt to Executive Vice President. Mr Gebhardt is responsible for the management of ACE Bermuda's global property and first party specialty lines business.
"Since joining us Klaus has made an signification contribution to the growth of ACE Bermuda's global property business," said Mark Herman, President and Chief Executive Officer of ACE Bermuda. "He is constantly looking for new ways to develop our business by creating innovative products, and I am delighted to announce his well earned promotion."
Mr Gebhardt joined ACE Bermuda in June 1999 as Senior Vice President of the Property department. He previously held the position of Senior Vice President and Chief Underwriting Officer at Arkwright Mutual Insurance Company, where he was responsible for the management of the company's underwriting and claims functions. Prior to that he worked with Allianz Insurance Company in the United States and Germany. During this time he managed the company's International Property Department in the US, writing global property business for Fortune 500 companies.
Klaus holds a Bachelor's degree in property insurance from the Stuttgart Business School and an advanced Business Degree in property insurance from the Institute of the Insurance Industry in Germany. He is a regular columnist on property underwriting topics for Best's Review magazine.
ACE Bermuda is a Bermuda-based subsidiary of ACE Limited (NYSE: ACE). ACE Bermuda offers insurance products and services through Bermuda and non-US based intermediaries. 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.