News Releases

NEW YORK--(BUSINESS WIRE)--The ACE Group of insurance and reinsurance companies today announced the appointment of David Jones as Head of Power for its international property and casualty insurance business. In this newly created position, Mr. Jones will be responsible for the continuing growth and performance of ACE’s retail power and boiler and machinery (B&M) portfolios in Europe, the Middle East, Africa, Asia Pacific and Latin America.

Mr. Jones is currently Regional Vice President & Manager – Energy, Utility & Technical Risks for ACE’s Asia Pacific regional operations based in Singapore. In his new role, he will continue to be based in Singapore and will report to Eric Boquist, Chief Underwriting Officer for ACE’s Energy Tech Group in London.

“This important new post reflects ACE’s commitment to this sector and reinforces our position as a market leader in monoline and “all-risk” package products for power generation facilities and B&M breakdown in a wide range of engineering and manufacturing plants,” Mr. Boquist said. “David’s expertise and experience will ensure we are well placed to continue to meet the needs of the power generation industry across the international territories we operate in.”

“These sectors are facing growing challenges, not just from the impact of the global downturn, but also in light of evolving technology within gas turbines, thermal generation and renewable energy,” Mr. Boquist noted. “These are sectors where experience and forward thinking are particularly important and where our expertise and track record are highly valued.”

Mr. Jones joined ACE in 2000 as Regional Engineer in Sydney, and since then has held increasingly responsible roles in the Asia Pacific region, including Underwriting Manager for Technical Lines in Australia and New Zealand and Asia Pacific Regional Manager, Tech Lines. Before joining ACE, he was the Australia and New Zealand Engineering Manager with Allianz.

The ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), 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

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