News Releases

HAMILTON, Bermuda & PHILADELPHIA--(BUSINESS WIRE)--ACE Group today announced several key executive appointments in its ACE Bermuda business:

Rees Fletcher has been named Chairman of ACE Bermuda. Mr. Fletcher joined ACE Bermuda 26 years ago, rising to the position of Senior Vice President, Excess Liability in January 2000. He was promoted to Division President of ACE Bermuda in 2004, and has shaped the business into one of the most reputable large capacity insurers in the world. As Chairman of ACE Bermuda, Mr. Fletcher will provide business development guidance and risk management oversight, and will ensure the continuity of strategic relationships in the Bermuda market.

Joseph Clabby has been named Division President of ACE Bermuda. In this role, Mr. Clabby will direct the company’s underwriting, distribution and marketing of high-level excess liability, professional liability, political risk, and property insurance coverage through non-U.S.-based brokers. Mr. Clabby will succeed Rees Fletcher. His appointment and relocation to Bermuda are subject to approval of the Bermuda Department of Immigration.

Mr. Clabby will continue to serve as Division President of ACE Global Accounts, integrating his two roles to develop ACE’s multinational business. Global Accounts customers will benefit from Mr. Clabby’s direct role in Bermuda, one of ACE’s key global underwriting centers. Mr. Clabby will apply his expertise in multinational insurance to expand ACE Bermuda’s relationships with brokers who serve the global marketplace for large accounts, deepening ACE’s penetration in this market.

Mr. Clabby joined ACE in 2001, after advancing through management positions over the previous 16 years in related industry businesses. He served as Division President of Regional Operations for ACE USA’s nine regions from 2005, until he was named Regional President of ACE’s Continental Europe operations in 2010, where he provided leadership for ACE’s 19 European offices.

Judy Gonsalves has been promoted to Chief Underwriting Officer of ACE Bermuda. In this role, she will be responsible for ACE Bermuda’s and ACE Bermuda International’s books of business. Ms. Gonsalves will continue to focus on applying ACE’s quality capacity in Excess Liability, Property, and Professional Risk on behalf of global customers.

Ms. Gonsalves joined ACE Bermuda's Excess Liability department as Assistant Underwriter in 1992. In 1997 she was appointed Vice President and Manager of ACE Bermuda's Underwriting Services department. In 2001, she returned to the Excess Liability department as Senior Casualty Underwriter and was appointed Senior Vice President in 2004, with Excess Liability product line management responsibility for ACE Bermuda and ACE Bermuda International. She was promoted to Executive Vice President in April 2010.

John Lupica, Chairman, Insurance-North America, stated: “Rees, Joe, and Judy are proven leaders at ACE, who know how to apply ACE’s underwriting strengths to benefit our most important clients, especially around their complex, multinational risk. Brokers in the Bermuda market will appreciate the presence of these solution-oriented professionals who are focused on delivering high-quality capacity and expertise to this key market.”

Mr. Clabby and Mr. Fletcher will report to Mr. Lupica. Ms. Gonsalves will report to Mr. Clabby.

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. Additional information can be found at www.acegroup.com, or follow ACE on Twitter,https://twitter.com/ACEGroupNA.

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