NEW YORK--(BUSINESS WIRE)--ACE Group announced today leadership appointments for its ACE Private Risk Services business that will be effective when the acquisition of the U.S. high net worth personal lines insurance business of Fireman’s Fund is completed. The transaction, announced in December, is slated to close in the second quarter of this year.
James Williamson will serve as Division President of ACE Private Risk Services. Currently Chief Operating Officer for ACE’s International Accident & Health insurance business and formerly the Chief Operating Officer of ACE’s Global Personal Lines and Small Commercial Business division, Mr. Williamson will be responsible for ensuring the successful integration of the two companies and leading the combined business’s profitable growth. He will report jointly to Juan Andrade, Executive Vice President, ACE Group, Personal Lines and Chief Operating Officer of ACE Overseas General, and John Lupica, Vice Chairman, ACE Group and Chairman, Insurance – North America.
Mary Boyd will serve as Deputy Division President and will report to Mr. Williamson. Currently Division President of ACE Private Risk Services, Ms. Boyd will lead underwriting, product management, analytics, actuarial, IT, and project management. She will also be responsible for business operations in Canada.
Eric Shanks will join ACE as Senior Vice President and lead product management and analytics at ACE Private Risk Services. Mr. Shanks is currently Senior Vice President responsible for product management and high net worth underwriting at Fireman’s Fund Personal Insurance. He will report to Ms. Boyd.
Robert Haibi will join ACE as Senior Vice President and co-lead the ACE Private Risk Services distribution organization. Currently the national distribution executive at Fireman’s Fund Personal Insurance, Mr. Haibi will have responsibility for ACE’s relationships with its largest national and global distributors, training and best practices, as well as regional distribution responsibilities for the western and central regions. He will report to Mr. Williamson.
Annmarie Camp, who currently leads the ACE Private Risk Services distribution organization, will co-lead the new distribution organization with Mr. Haibi. Ms. Camp will have national distribution responsibility for the company’s Premier and High Net Worth segments, as well as for all marketing and communications. In addition, she will have regional responsibility for the northeast and southern regions. Ms. Camp will report to Mr. Williamson.
William McDuffie, currently Field Service Operations Executive at Fireman’s Fund Personal Insurance, will join ACE Private Risk Services as the lead Operations Executive. Mr. McDuffie will report to Mr. Williamson.
Tiffany Alvey, currently Vice President of Claims at Fireman’s Fund Personal Insurance, will join ACE as Deputy Head of Claims and report to Clyde Douglas, Chief Claims Officer for ACE Private Risk Services.
Christopher Donahue, Chief Underwriting Officer for ACE Private Risk Services, will remain in his current role and will report to Ms. Boyd.
Robert Courtemanche, currently Chairman of ACE Private Risk Services, will continue in his role through the close of the transaction. He plans to retire from ACE but will continue to provide his guidance and expertise to the organization until early in the fourth quarter of 2015.
“I’m pleased to announce this leadership team, which brings the best of both organizations together — professionals with a proven track record of success. Together, they will lead the finest high net worth personal lines insurer with superior service standards, talented professionals and global reach,” said Mr. Andrade. “In particular, I want to express my confidence in Jim Williamson as the new leader of ACE Private Risk Services. Jim has distinguished himself by his strong leadership, a deep underwriting background, and a record of successful execution. I also want to acknowledge the important contributions of Bob Courtemanche to ACE over the years and thank him for helping ensure the success of the new business. Bob’s leadership, experience and market relationships have been critical to the growth of ACE Private Risk Services.”
Mr. Andrade concluded: “We are making excellent progress with our acquisition plans and are on track to close the transaction according to schedule. We are excited by the potential of this new business and how it will provide an even higher level of service and protection for clients with sophisticated insurance needs, wherever they might be around the world.”
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.
Cautionary Statement Regarding Forward-Looking Statements:
All forward-looking statements made in this press release, related to the acquisition of the Fireman’s Fund high net worth personal lines business, and expected hiring and appointments, reflect ACE’s current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially. The acquisition has not closed, its completion is subject to certain conditions and it is not certain that it will be completed. Similarly, the personnel moves described in this press release are not yet effective and are subject to change; if the transaction were to not close, ACE would reconsider its personnel needs. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. ACE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Jeffrey Zack, 212-827-4444