PHILADELPHIA - APRIL 12, 2004 - Susan Rivera, President and Chief Executive Officer, ACE USA, a member of The ACE Group of Companies, announced today key changes to the ACE USA business operations. The following appointments take effect immediately:
- John Lupica, President, ACE Professional Risk, has been appointed to the additional position of President, ACE USA Regional Operations. In this role, Mr. Lupica will have the responsibility to continue to drive distribution strategies with brokers on a national as well as a regional basis; and expand our product and marketing approach to local distribution sources. As President, ACE USA Regional Operations, the ACE USA Regional Executives and ACE Canada will report to Mr. Lupica. ACE Professional Risk offers the following product lines: Directors & Officers (D&O); Errors & Omissions (E&O); Surety; Fidelity; Medical Risk; and Professional Risk Programs.
- Ed Zaccaria has been named President, ACE Specialty Products, a new business unit which will focus on developing and growing ACE's commercial specialty product lines including: Airports; Satellites; Global Weather; Power and Utilities; Global Terrorism; Kidnap & Ransom; and other specialty commercial products. This new business unit will focus on growing these products while also expanding the ACE USA portfolio of products in the specialty commercial markets. Additionally, Mr. Zaccaria will continue in his role as President, ACE US International.
- Mark Lima has been appointed Executive Vice President and Chief Operating Officer, ACE US International, reporting to Ed Zaccaria. The ACE US International business specializes in global property casualty and marine coverages for a broad range of mid- to large-sized companies. Product lines include: Foreign Casualty; International Advantage; Global Solutions (captives); Global Property; Commercial Marine; and marketing of Global Terrorism and Kidnap & Ransom. Mr. Lima joins ACE USA from ACE Financial Solutions International where he was Executive Vice President, Underwriting. Mr. Lima brings with him a wealth of insurance experience including 14 years with ACE in Bermuda.
- James W. Macdonald has been elevated to the position of Executive Vice President and Chief Underwriting Officer for ACE USA. Mr. Macdonald has more than thirty years of insurance industry experience and is an experienced consultant, author and public speaker. He joined ACE in September 2001 as senior vice president and chief underwriting officer with ACE Risk Management and was appointed senior vice president, Underwriting for ACE USA in 2002.
"Over the past two years, we have worked to expand both the ACE USA presence in the marketplace as well as our portfolio of products. This expansion has contributed significantly to the phenomenal growth experienced by ACE USA in 2003," stated Susan Rivera, President and Chief Executive Officer, ACE USA. "As we look to the future, we believe these changes to our organizational structure will continue to promote the breadth and depth of our management team and will also allow us to better serve our clients and brokers by more closely aligning our business expertise, products and services to the commercial insurance needs expressed by today's markets."
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ACE USA is a U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE: ACE). ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.