PHILADELPHIA - June 21, 2002 - ACE USA today announced the appointment of Francis W. McDonnell to chief financial officer. Mr. McDonnell will report to Susan Rivera, president of ACE INA Holdings, Inc. Based in Philadelphia, McDonnell will have overall responsibility for all aspects of corporate finance and accounting for ACE USA.
"Frank's financial management experience and business acumen are a good match for the diverse needs of our organization," said Susan Rivera, president, ACE INA Holdings, Inc. "His depth of knowledge in the financial and insurance industries will be instrumental in helping us to achieve our strategic goals."
McDonnell has twenty years of insurance industry experience, most recently with PMA Capital Corporation, where he served as senior vice president, chief financial officer and treasurer from 1995 to present. He previously served as senior vice president and chief financial officer of PMA Reinsurance Corporation since 1993.
McDonnell received his bachelor of arts degree in accounting from Rutgers University and later earned his MBA from Saint Joseph's University. He is a member of the American Institute of Certified Public Accountants (AICPA) and a member of the Chartered Property & Casualty Underwriter's Association. He is a Certified Public Accountant (CPA), and holds the Chartered Property Casualty Underwriting (CPCU) designation.
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ACE INA Holdings Inc., whose ultimate parent is ACE Limited (NYSE: ACE), provides insurance and reinsurance products and services through operating subsidiaries for a diverse group of clients around the world. Additional information can be found at www.ace-ina.com.