Mr. Bonneau's appointment is subject to the approval of the Bermuda Department of Labour and Immigration.
Mr. Bonneau succeeds David Furby, who has been appointed President of ACE's Continental European business. Mr. Furby, who will be based in Paris, joins Gerard Fournier, formerly President of Continental Europe, who now will become Chairman.
"We are very pleased to appoint Jacques to head our global reinsurance business," said Mr. Greenberg. "Jacques is a seasoned reinsurance executive, and I have complete confidence in his ability to lead ACE Tempest Re, an acknowledged brand in the property and casualty reinsurance markets.
"We are also pleased that David has accepted the challenge to lead our business in Continental Europe. David is a proven insurance executive and will now have an opportunity to apply his management skills to a broad and strategically important region of our company."
Mr. Bonneau has served as Chief Executive Officer of ACE Tempest Re USA since he joined ACE in 1999. Mr. Bonneau started his reinsurance career more than 25 years ago and has held a number of assignments with leading reinsurance companies such as General Reinsurance Corporation, Trenwick America Reinsurance and Chartwell Re.
Mr. Furby was appointed President of ACE Tempest Re Group in 2002 and added the title of Chief Executive Officer in 2003. He joined the ACE Group of Companies in 1996 with ACE's acquisition of the Ockham Syndicate at Lloyds and has served in a number of senior reinsurance roles in London and Bermuda. In his new assignment, he will report to Andrew Kendrick, Chairman & Chief Executive Officer, ACE European Group, and work closely with Mr. Fournier.
The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, 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: www.acelimited.com.