LONDON--(BUSINESS WIRE)--ACE Life (NYSE:ACE) today announced the appointment of Abdallah D. “Budy” Kubursi as Managing Director for its Middle East & North Africa (MENA) businesses. Mr. Kubursi will be responsible for managing ACE Life’s existing businesses in Egypt and the United Arab Emirates and expanding its business across the MENA region.
In his new role for ACE, he will be based in the United Arab Emirates and will report to Ian Watts, Chief Operating Officer for ACE Life. Mr. Kubursi joins ACE from AIG where he was Regional Vice President - Middle East, Mediterranean & South Asia Region and Global Head AIG Takaful Enaya.
“The MENA region is strategically important for the future growth of ACE Life,” said David Wolf, President of ACE Life. We plan to expand ACE Life’s footprint beyond our existing businesses in Egypt and the UAE, subject to regulatory approvals.”
“To meet our customer needs, we offer a broad and expanding range of life insurance products, including individual protection, savings and unit linked products, as well as group life and medical insurance. We serve our customers through multiple distribution channels, including agency, brokers and banks. Budy’s appointment and experience will further strengthen our position to serve the Middle East and North Africa market and take full advantage of its growth opportunities.”
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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