PRAGUE--(BUSINESS WIRE)--The ACE Group (NYSE:ACE) of insurance and reinsurance companies has announced that the ACE Foundation – International is launching a special fund for the renowned Czech children’s charity Tereza Maxova Foundation (TMF) with a CZK 1.5 million (approx 59,000 Euros or £52,000*) grant.
The partnership will be officially announced today during ACE’s risk manager reception at the Villa Richter during the FERMA (Federation of European Risk Managers Associations) 2009 Congress in Prague, Czech Republic.
John Keogh, CEO of ACE’s international insurance operations, said, “I am delighted to announce ACE’s partnership with the Tereza Maxova Foundation at this year’s FERMA Congress. The ACE Special Fund is very positive news for the charity’s work and I look forward to seeing my ACE colleagues in Prague working closely with the TMF in the months ahead. This initiative will benefit the local community long after the FERMA Congress.”
The ACE Fund will support the TMF’s principal objectives of providing assistance to children reliant on institutional care, keeping families together and promoting the development of foster families.
Monies from the ACE Fund will be distributed through an open grant process, which will invite applications from any source with the grant committee selecting those which meet the specific grant criteria.
Keogh added, “ACE prides itself in supporting a number of philanthropic programs focused on education, poverty and health across the world. The TMF provides invaluable support to a vulnerable section of Czech society, a cause we are very happy to support.”
*based on exchange rate 10 September 2009 of 1 CZK = 0.0039 Euros / 1 Euro = 25.421 CZK
1 CZK = £0.035 / 1 £ = 28.857
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), 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
Part of the ACE Group of Companies, ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Europe. 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
Philanthropy at ACE
ACE strives to make a lasting, positive impact on communities where its employees live and work through grants, matching gifts, employee campaigns and volunteer initiatives. Through its Foundations, ACE provides significant financial support each year to organizations around the world, focusing on the areas of education, the environment, and poverty and health.
The 2009 FERMA Congress in Prague, will take place from Sunday, 4 October to Wednesday, 7 October and will be attended by risk managers from across the European region including emerging markets such as Russia, Poland, Hungary and the Czech Republic. Approximately 1,200 delegates are expected to attend.
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