LONDON, United Kingdom, April 4, 2003 - ACE International, a subsidiary of ACE Limited (NYSE: ACE), today announced the appointment of Kudret Oztap to the position of senior vice president, Onshore Energy. Mr. Oztap will lead this global product line and will be based in New York City. Additionally, Mr. Oztap will be responsible for the development of the North American Global Energy operation.
With the appointment of Mr. Oztap to this new role, ACE continues its strategic globalization plan to write Onshore Energy in the world's key markets.
"I am delighted to welcome Kudret to our team," said Peter Stow, Executive Vice President, ACE Global Energy Group l. "We now have the capability to globally write Onshore Energy business and Kudret's appointment is key to our plan to grow the this portfolio worldwide. He brings more than 25 years of experience in the insurance business, and I am certain that he will make a significant positive impact on our plans to establish our presence in this marketplace."
Mr. Oztap joins the company from the SCOR Group, where he spent more than 12 years. He most recently served as senior vice president responsible for the property & casualty operations of the SCOR Business Solutions USA. Mr. Oztap has worked in the insurance industry since 1977, beginning with positions at Insurance Company of North America and A&A Insurance in 1986.
Mr. Oztap will report jointly to Peter Stow, executive vice president, ACE Global Energy Group, in the UK, and Susan Rivera, president, ACE INA Holdings, Inc., in the US.
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.