News Releases

LONDON--(BUSINESS WIRE)--ACE European Group (ACE) (NYSE:ACE) has announced the opening of two new offices in Budapest and Prague as the company further expands its presence within Central and Eastern Europe.

ACE’s Hungarian operation will be run by Peter Dudas who has been appointed General Manager for the country. Peter joins ACE from Genworth Financial where he was the Country Manager for Hungary.

Jiri Schneller has been appointed as General Manager to run ACE’s Czech Republic operation. Based in Prague he will also be responsible for the company’s activity in Slovakia. Jiri joins ACE from Winterthur Life Insurance Company where he was Head of External Service.

Both Peter and Jiri will report to ACE’s Regional Director for Central and Eastern Europe – Andras Koppanyi, who said: “Our new operations in the Czech Republic and Hungary will complement our existing CEE offices in Poland and Russia, enabling ACE to capitalize on strategic opportunities as the region continues to develop."

Announcing the openings, David Furby, ACE’s President of Continental Europe and the CEE region said:“These new offices represent a very exciting time for ACE as we extend our operations across Europe. With a large global network behind it, ACE now has presence in 19 European countries, demonstrating our commitment to the local market.

“Peter and Jiri will provide both operational and strategic leadership in their respective countries. They will be responsible for the launch of both property and casualty and accident and health business lines in Hungary, Czech Republic and Slovakia and will work to explore other potential opportunities.”

Notes to editors:

ACE

ACE European Group has established branch offices in 19 countries across Europe, Freedom of Services permission to provide insurance services to clients in 29 EEA countries and affiliates in Egypt, Bahrain, Pakistan and Russia.

Part of the ACE Group of Companies, ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Group. ACE Europe provides a range of tailored Property and Casualty, Accident and Health and Personal Lines solutions for a diverse range of clients. ACE Global Markets (AGM) is ACE’s specialty international business, underwriting through ACE’s Lloyd’s Syndicate 2488 and ACE European Group Limited. Specialty lines include excess and surplus lines business, Marine, Aviation, Energy and Political Risk as well as Property, Financial Lines and Accident and Health. Additional information on ACE European Group can be found at www.aceeuropeangroup.com.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor’s 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com