NEW YORK--(BUSINESS WIRE)--ACE Overseas General announced today that it has formed a new international industry practice group to address the world’s growing regional energy production and capital investment needs. ACE Energy and Technical Risks aligns new and existing ACE capabilities in energy and technical lines underwriting with the retail distribution platforms of regional and global broking operations.
The new international group draws on resources from the ACE Global Energy and ACE Technical Risks units, among other product areas, to offer upstream and downstream oil and gas, and power generation property insurance lines. Other product areas, including casualty and marine, will also provide expertise to this group, which will have on-the-ground regional operations in the U.K., Continental Europe, Asia Pacific, the Middle East and Latin America.
ACE Energy and Technical Risks will be co-led by Roger Giddings, Executive Vice President and Head of ACE Global Energy, and Paul McNamee, Senior Vice President and Head of ACE International Property. Eric Boquist, Senior Vice President, Head of Underwriting Operations, ACE Global Energy, will serve as Chief Underwriting Officer of the new group.
“ACE is already a recognized leader in international offshore and onshore energy, as well as power/boiler and machinery,” said John Keogh, Chief Executive Officer, ACE Overseas General. “ACE Energy and Technical Risks will now deliver an integrated capability, with strong regional retail distribution that will be closer to our customers, brokers and business partners. Essentially, we are adding to our London-based wholesale expertise a regional-based retail presence in all of the regions of the world where we operate. ACE Global Markets, our London-based international and specialty wholesale business, will not be affected by this new development and will continue to write wholesale power and energy business in London.”
ACE Overseas General is the international property and casualty insurance operations of the ACE Group of Companies. The ACE Group 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.