Hamilton, Bermuda, September 10th 2002 - ACE Global Reinsurance today announced the opening of an ACE Tempest Reinsurance (ACE Tempest Re) underwriting operation in Dublin, Ireland. The new unit is a division of ACE European Markets Reinsurance Limited (AEMR). AEMR commenced operations in Dublin in 1997 and is capitalised at US$100 million.
Tony Spice has been appointed Chief Underwriting Officer, responsible for developing ACE Tempest Re's property and casualty treaty business in continental Europe. Mr Spice was previously an International Casualty Treaty Underwriter at ACE Global Markets Syndicate 2488 in London. Prior to joining ACE in February 2001 Mr Spice spent 20 years in the International Casualty Treaty Market in London.
"The opening of the Dublin division is a further step in ACE Tempest Re's ongoing strategy of evolving into a diversified multi-line reinsurer." said David Furby, President of ACE Global Reinsurance. "The new division will complement the existing Property and Casualty Treaty capabilities within the ACE Group, whilst providing greater accessibility to brokers in continental Europe."
Jim Hooban, Managing Director of AEMR, said, "We are delighted to have Tony Spice joining us in Dublin to head up the new reinsurance operation, his experience and market knowledge will be an asset in leading ACE's business development efforts."
ACE Global Reinsurance is a division of ACE Limited (NYSE:ACE), the holding company of the ACE Group of Companies. 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.