Press release from Business Wire
ACE USA Announces Executive Management Appointments within its Underwriting Units in Casualty Lines
Tuesday, May 07, 2013
ACE USA Announces Executive Management Appointments within its Underwriting Units in Casualty Lines18:33 EDT Tuesday, May 07, 2013
PHILADELPHIA (Business Wire) -- ACE USA, the U.S.-based retail operating division of the ACE Group, today announced two new executive appointments in its Foreign Casualty and Custom Casualty divisions:
Alexander Wells has been appointed Senior Vice President and National Underwriting Manager of ACE USA's Custom Casualty Division. Mr. Wells will be based in Philadelphia, and will be responsible for setting and driving the overall business unit strategy for the Custom Casualty lines of business, which provide general and automobile liability coverage products to middle and upper middle market U.S.-based companies. The unit also specializes in providing coverage for traditional and renewable energy companies and offers ACE PaCSM, a combined primary commercial general liability and pollution liability coverage form for the chemical industry. In this position, Mr. Wells will lead a team of casualty underwriters countrywide, to ensure the delivery of ACE's custom casualty products and services to clients across all nine ACE USA regions. He will also oversee strategy, relationship management, sales, marketing, production and staff management. Mr. Wells will report to Ross Bertossi, Division President, ACE USA Casualty Lines.
With more than 20 years in the insurance industry, Mr. Wells most recently served as Senior Vice President, ACE Excess Casualty, where he led a national underwriting team for the Excess Corporate Risk Segment, Small Commercial Business and Construction. Prior to joining ACE in 2006, Mr. Wells began his career at a large global carrier where he served in various leadership positions.
Craig Hanrahan has been appointed Senior Vice President, Foreign Casualty Cash Flow within the ACE Foreign Casualty Division. Based in New York City, Mr. Hanrahan will lead the development and execution of ACE Foreign Casualty's Cash Flow operations. The ACE Foreign Casualty Cash Flow operations product suite provides a full range of complex solutions for large multinational companies. As part of the product suite, ACE also has the ability to coordinate locally admitted policies across the entire ACE global network through ACE WorldviewSM, a web-based information portal for risk managers and brokers with multinational insurance programs that provide an up-to-date status of their entire global program. Mr. Hanrahan will also oversee the overall strategy and business plan, and manage the ongoing development and growth of the product portfolio. He will report to Bryan Tedford, Senior Vice President, ACE Foreign Casualty.
Commenting on Craig Hanrahan, Mr. Tedford said, “Craig's deep industry experience and proven success with regional and national brokers and clients will allow us to continue to provide excellent guidance for U.S.-based companies and organizations doing business on foreign soil.”
With nearly 25 years of insurance industry experience, Mr. Hanrahan most recently served as Senior Vice President and Global Client Executive since 2010. Prior to that position, he spent 19 years with a global broker, serving in a variety of senior leadership positions, and served as a large-line casualty underwriter based in New York City.
“These new appointments exemplify the breadth and depth of talent in our company,” said Mr. Bertossi. “Alex and Craig have been instrumental in the success of our overall organization. Their vast industry experience, proven leadership, and strong broker relationships will prove to be great assets in our plans for continued growth within the casualty lines.”
Mr. Bertossi added, “With a long heritage of casualty product development and innovation, our expertise in offering targeted solutions to our clients has naturally grown. Our foreign casualty product suite offers insurance solutions for U.S.-based companies with operations and employees who must travel outside the United States. Our casualty offerings have expanded from guaranteed cost packages policies to complex multinational programs with sophisticated risk transfer options to offering individualized casualty programs for companies with challenging exposures and loss sensitive general liability program structures. This broad range of offerings distinguishes ACE in this segment.”
ACE USA is the U.S.-based retail operating division of the ACE Group, and is rated A+ (Superior) by A.M. Best Company and AA- (Very Strong) by Standard & Poor's. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.acegroup.com/us . The ACE Group is one of the world's largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of the 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 .
ACE North America Communications
Carla Ferrara, 215-640-4744