HAMILTON, Bermuda, February 9, 2004 - ACE Limited (NYSE:ACE) announced today that Pierre Samson, President and Chief Executive Officer, ACE Global Financial Solutions, has accepted the positions of Chief Actuary, AGC Holdings Limited and Chief Underwriting Officer, AGC International Ltd. AGC Holdings Limited, a wholly-owned subsidiary of ACE Limited, will be the subject of an initial public offering (IPO) later this year.
Mr. Samson's appointment is subject to approval from the Bermuda Government's Department of Labour and Immigration. Mr. Samson will report directly to President and Chief Executive Officer of AGC Holdings, Inc., Dominic Frederico.
Pierre Samson joined ACE nine years ago as Vice President and Actuary in the Financial Lines division of ACE Bermuda. In January 1998, he was promoted to the position of Senior Vice President, Financial Lines and in June 2000 was asked to head ACE Financial Solutions International (ACE FSI). In September 2003, he was promoted to President and Chief Executive Officer, ACE Global Financial Solutions.
Prior to joining ACE, Mr. Samson worked for eight years for Tillinghast Towers Perrin in offices in Bermuda and London. He is a graduate of Laval University, Quebec and is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. A component of the Standard & Poor's 500 stock index, The ACE Group conducts its business on a worldwide basis with operating subsidiaries in approximately 50 countries. Additional information can be found at: http//www.acelimited.com