PHILADELPHIA, PA, March 6, 2002 - ACE INA Holdings, Inc., a member of the ACE Group of Companies, today announced the appointment of Susan Rivera to the position of President, ACE INA Holdings, Inc. Ms. Rivera was previously the president of American Home Assurance Company.
ACE also announced the promotion of Brian Dowd to the position of President of ACE Westchester Specialty. Prior to this appointment, Mr. Dowd had served as head of ACE INA's Specialty P&C group.
In her new position, Ms. Rivera will assume responsibility for all aspects of ACE INA's commercial retail insurance operations. In addition, she will have day-to-day responsibility for numerous holding company functions within ACE INA.
Dominic Frederico, chairman and chief executive officer of ACE INA, said, "We are delighted to have such a highly qualified senior insurance executive join our team at ACE. With her actuarial training, depth of industry knowledge and executive experience, Susan will be instrumental in fostering our rapid growth during this unique moment in the insurance industry.
"Brian Dowd's appointment as President of ACE's Westchester Specialty also puts in place strong leadership for this key business," Mr. Frederico added. "Brian will focus on our domestic wholesale operations. His job will be to expand operations and to maintain the strong results ACE has come to expect from this business. Together, both Susan and Brian provide us with strong leadership for our U.S. businesses."
"I'm looking forward to taking up my new post at ACE INA," said Ms. Rivera. "The opportunity to work with such a dynamic management team doesn't come along too often. ACE has done a remarkable job turning around the domestic operations of INA since its acquisition in 1999. I'll be working with some of the best underwriters in the business and I have no doubt that together we will make ACE INA the premier brand in the U.S. market."
"Westchester Specialty has been a critical component in the ACE Group's growth and expansion the past few years," said Mr. Dowd. "I'm eager to take on the leadership of such an experienced team as we look to build upon the solid foundation that exists in our wholesale operations."
Ms. Rivera was associated with American International Group (AIG) for 15 years. She joined AIG in 1987 after graduating from Villanova University with a Bachelor's degree in Mathematics. During her tenure at AIG, she held increasingly senior positions in the Management Liability and Risk Finance divisions before being appointed to the position of Executive Vice President and Chief Operating Officer of American Home in 1998, and subsequently President in June 1999. Ms. Rivera is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.
Mr. Dowd was named President of ACE INA's Specialty P&C group in December 2001. He previously served as executive vice president of Property for ACE USA and from 1997 to 1999 served as senior vice president of Property at ACE Bermuda Insurance Limited. Mr. Dowd joined ACE in 1995 from Arkwright Mutual Insurance Company. He holds a Bachelor's degree in Finance from Northern Illinois University as well as the Chartered Property Casualty Underwriting (CPCU) designation.
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.
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