HAMILTON, Bermuda, February 11, 2004 - Gary Schmalzriedt, Chairman and Chief Executive Officer of ACE Overseas General (AOG), announced today that Tomas Urbanec has joined AOG as Executive Vice President, International Personal Lines. AOG is a financial reporting segment of ACE Limited and comprises the Company's international property casualty and accident and health businesses and its Lloyd's operations.
In his new role, Mr. Urbanec will work with ACE's regional management to create and implement the Company's strategy for the continued development of personal lines business in Asia Pacific, Europe, Latin America and Japan. He will report directly to Ed Clancy, President and Chief Operating Officer of AOG, and will be based in New York.
Mr. Urbanec brings more than a decade of experience in personal lines to his new position, having worked for over six years with Progressive Insurance and Travelers and for over four years with American International Group. He has been responsible for business development throughout South Asia, including Greece, Turkey, Egypt and Israel, as well as throughout Southeast Asia, including Hong Kong, Taiwan, Thailand and Malaysia.
"Tom's breadth of international experience in both emerging and mature insurance markets will be important in expanding ACE's existing personal lines operations and in establishing new operations in key markets," said Mr. Schmalzriedt. "Personal lines is a critical product line in the development of our consumer insurance business model and Tom's expertise in this regard will be invaluable."
Mr. Urbanec has an MBA in International Finance from Case Western Reserve University in Cleveland, Ohio and an undergraduate degree in Finance from Indiana University.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. A component of the Standard & Poor's 500 stock index, The ACE Group conducts its business on a worldwide basis with operating subsidiaries in approximately 50 countries. Additional information can be found at: www.acelimited.com.