News Releases

ACE USA Announces Formation of the Mergers & Acquisitions Industry Practice; Seth Gillston Appointed to Lead Practice
Apr 19, 2007

PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced the creation of the ACE USA Mergers & Acquisitions Industry Practice, which will concentrate on both private equity groups and strategic mergers & acquisitions. This specialized practice will enhance ACEs focus on providing comprehensive risk management solutions and insurance coverage to buyers and sellers of organizations as they navigate the merger & acquisition transaction process. In addition, Seth Gillston has been named to lead this new practice and a team of product and service experts.

Mr. Gillston adds this responsibility to his current role as Senior Vice President of ACE Financial Solutions and will continue to report to Matt Merna, Executive Vice President, ACE Financial Solutions. As the ACE USA Mergers & Acquisitions Industry Practice leader, Mr. Gillston will report to Christopher A. Maleno, President, ACE USA Regional Operations.

The mergers & acquisitions industry continues to evolve, resulting in the need for organizations to streamline their insurance buying during the portfolio transfer process. ACE has a wealth of experience in providing underwriting and risk management services to mergers & acquisitions transactions, said Mr. Maleno. The formation of the ACE USA Mergers & Acquisitions Industry Practice not only provides easier access for brokers and clients wishing to use these services, but it also allows us to help facilitate the transaction process by providing a coordinated delivery of insurance solutions. Seths proven success and experience in providing transaction counsel to the private equity market makes him well-suited to lead our endeavor for this key market segment.

Mr. Gillston joined ACE Financial Solutions in 2000 and brings to his new role more than 12 years of insurance industry experience. In his most current role as Senior Vice President, ACE Financial Solutions, he provides non-traditional insurance and customized insurance solutions for companies facing complex risk management issues, by implementing structured products, loss portfolio transfers and novations programs. Prior to his tenure with ACE USA, he spent five years at American International Group (AIG) serving in a variety of underwriting and marketing positions. Mr. Gillston received his Bachelor of Science degree with a dual major in Risk Management and Economics from Temple University in Philadelphia.

Products and services currently available through the ACE USA Mergers & Acquisitions Industry Practice that provide multiple solutions:

  • Claims solutions, casualty loss portfolio transfers
  • General, automobile, products, and umbrella liability: legacy and successor liability
  • Property: Catastrophe modeling, risk assessment engineering
  • Directors & officers liability
  • Environmental liability
  • Professional liability, surety
  • Workers compensation

Further information is available by contacting Seth Gillston at 212-209-2273 or by email at seth.gillston@ace-ina.com

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 & Poors. 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.

 

Contact:

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@ace-ina.com


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