News Releases

NEW YORK--(BUSINESS WIRE)--The ACE Group of insurance and reinsurance companies today announced the promotion of Edward Clancy to Chairman of its Life division, which includes the company’s international life insurance and life reinsurance businesses. This role is in addition to Mr. Clancy’s current responsibilities as head of the company’s worldwide accident and health (A&H) business, and his new title is Executive Vice President, Global Accident & Health and Life.

The company also announced that David Wolf, President, ACE Life, is leaving the company to pursue other career interests. A successor to this position will be named at a later date.

“Over the past 11 years, Ed has led the development of our A&H business through a combination of organic growth around the globe and the successful integration of Combined Insurance,” said Evan Greenberg, Chairman and Chief Executive Officer of ACE Limited. “With this strong track record, Ed is well-suited to continue the expansion of our life insurance business by coordinating efficiencies and supporting customer and distribution opportunities between our A&H and Life operations.”

Since joining ACE in 1999 as Senior Vice President, International Accident & Health, Mr. Clancy advanced to President, Global Accident & Health in 2001, adding responsibility for North America, before taking on the additional roles of President and Chief Operating Officer of ACE Overseas General in 2003 and his most recent role in 2007. Before joining ACE, he held a range of increasingly responsible A&H leadership positions in Europe, North America and Asia over a 20-year period with AIG.

Mr. Clancy earned a Bachelor of Science degree in Business Administration with a concentration in finance and economics from Susquehanna University in Selinsgrove, Pa.

Celebrating 25 years of insuring progress, 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.acegroup.com.

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