PHILADELPHIA – May 30, 2006 – ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced the promotion of Joseph Sherry to Senior Vice President, Global Property, part of ACE USA’s International & Specialty Group. Based in Philadelphia, Mr. Sherry will have responsibility for directing overall operations and strategy for the Global Property and Engineering Services product lines.
ACE International & Specialty Group specializes in offering global programs and specialty coverages for a broad range of mid- to large-sized U.S.-based companies.
“Joe brings to this key role outstanding property underwriting management and proven leadership capabilities. His promotion reflects our commitment to maintaining the customer and broker relationships that form the core of our business strategy and to the continued growth and long-term success of ACE USA’s global property business,” said Ed Zaccaria, President, ACE USA International & Specialty Group. “I look forward to working with Joe as we further broaden our product offerings and strive to exceed customer expectations and meet the unique needs of the commercial global property marketplace.”
Mr. Sherry has more than 21 years of commercial property underwriting management experience in the insurance arena. He joined an ACE predecessor organization (CIGNA) in 1996 as an Account Executive, Global Property, and has held several regional property underwriting roles, most recently serving as Vice President, Property, for ACE USA’s International & Specialty Group. Prior to his tenure with ACE USA, Mr. Sherry held several property underwriting positions at American International Group (AIG) and Industrial Risk Insurers. He received a Bachelor of Science degree in Mechanical Engineering from Villanova University, Villanova, PA. He holds the Chartered Property and Casualty Underwriter (CPCU), Associate in Risk Management (ARM) and Associate in Underwriting (AU) professional designations.
# # #
ACE USA is the U.S.-based retail operating division of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. 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.