Sydney — September 24, 2015 — ACE Group has become the underwriter of the Calliden residential products in Australia. From 1 November 2015, Calliden Home insurance policies will cease to be underwritten by Calliden Insurance Limited and instead be underwritten by ACE Insurance Limited (ACE).
ACE will bring its financial strength and underwriting expertise to the Calliden Home portfolio, which will continue to be distributed under the Calliden Home brand. With Calliden now part of Steadfast, this new arrangement deepens the relationship between Steadfast and ACE.
Country President for ACE in Australia & New Zealand, John French said: “We are continuing to develop and grow our business with Steadfast, across a range of different product lines and distribution channels. Underwriting Calliden Home brings growth opportunities and is in keeping with our strategy of diversification.”
Simon Lightbody, Chief Executive Officer of Steadfast Underwriting Agencies said: “We are extremely pleased to extend our partnership with ACE in this new deal. It is another example of how we support our broker partners. ACE is a recognised insurer in this market with strong financial credentials. We will work closely together with ACE leveraging its underwriting capabilities to ensure the continued growth and enhancement of our home and contents products.”
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
ACE, via acquisitions by its predecessor companies, has been present in Australia for over 50 years. ACE’s operation in Australia (ACE Insurance Limited) provides specialised and customised coverages, including Marine, Property, Liability, Energy, Professional Indemnity, Directors & Officers, Financial Lines, Utilities, as well as Accident & Health insurance, to a broad client base. ACE is a major insurer of many of the country’s largest companies. With five branches and 400 staff in Australia, it has a wealth of local expertise backed by its global reach and breadth of resources.
More information can be found at www.acegroup.com/au.
Contact
Robin Moore: +61 (2) 9335 3343 / 0434 180 553;
robin.moore@acegroup.com