NEW YORK--(BUSINESS WIRE)--The ACE Group of Companies announced today that it has begun conducting business in the Peruvian insurance market as ACE Seguros S.A.
ACE Seguros consists primarily of the insurance operations of Altas Cumbres Life Insurance Company, which ACE acquired in December of last year from Grupo Altas Cumbres of Chile. On June 19 Peru’s Superintendent of Banks and Insurance granted ACE permission to operate in the country as ACE Seguros.
A launch ceremony was held yesterday in Lima. ACE executives attending the event included Evan Greenberg, Chairman and Chief Executive Officer, ACE Limited; Ed Clancy, President and Chief Operating Officer, ACE Overseas General, and President of International Accident & Health; Jorge Luis Cazar, President and Chief Executive Officer, ACE Latin America; and Jose Luis Vargas, Country Head of ACE Peru.
“Through ACE Seguros, our Company is participating in the dynamic and rapidly developing Peruvian insurance market,” said Mr. Greenberg. “We look forward to expanding the ACE Seguros product line to include a broad array of life, accident and health insurance products, as well as introducing additional distribution channels.”
With more than 700,000 customers, ACE Seguros specializes in accident, group, credit life and commercial property and casualty insurance. Distribution channels for its products include captive agencies, brokers and bancassurance.
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.