PHILADELPHIA - May 5, 2004 - ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, today announced the appointment of Lawrence Cook as Vice President, ACE Captive Solutions. ACE Captive Solutions is a centralized unit that supports all of ACE's business units and harnesses ACE's internal resources to bring creative and flexible alternative risk financing solutions to the captive community.
Mr. Cook will have responsibility for delivering a menu of services and products through alternative market specialists, including brokers, consultants, reinsurance brokers, captive managers, attorneys and others. He will also assist in the development of new products and in managing relationships with customers and producers. Based in New York City, Mr. Cook will report to Bob Davis, Senior Vice President of ACE Captive Solutions.
"Lawrence's breath of experience in structuring, implementing and managing alternative risk financing facilities will be essential in expanding our existing alternative markets presence in the United States," said Mr. Davis. "The alternative market is an important business sector throughout ACE, and Lawrence's expertise in this area will be invaluable as we continue to develop and implement innovative solutions for this market."
Mr. Cook has more than 20 years of captive and alternative risk financing experience. Most recently, he served as a Director with Risk Design Group (RDG), an alternative insurance and risk financing services consulting firm. Prior to joining RDG, Mr. Cook was Vice President at Arch Insurance Services and also served on the Boards of Directors for First American Insurance Company and Rock River Insurance Company, now part of Arch Capital Group. He also has held alternative risk management positions with TIG's Alternative Programs Group and served as Director of TIG (Bermuda) Ltd. and President of Gateway Insurance Company Ltd., two Bermuda-based rent-a-captive facilities. Before that, he was President of Drayton Company Ltd., a Bermuda association captive, and President of Drayton Insurance Risk Retention Group, Ltd., a Vermont risk retention group. He began his career with Johnson & Higgins.
Mr. Cook earned a bachelor of science degree from Adrian College in Michigan and has completed additional coursework at the University of Michigan and The College of Insurance.
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ACE USA is a U.S.-based 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.