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Press release from Business Wire

ACE Appoints Derek Talbott Division President, North America Property & Specialty Lines

Thursday, July 18, 2013

ACE Appoints Derek Talbott Division President, North America Property & Specialty Lines

17:25 EDT Thursday, July 18, 2013

PHILADELPHIA (Business Wire) -- The ACE Group today announced the appointment of Derek Talbott to Division President, North America Property & Specialty Lines. Based in Philadelphia, Mr. Talbott will have responsibility for managing ACE's property-related products and services across the company's North American retail and wholesale franchises: ACE USA, ACE Canada, and ACE Westchester. In his capacity as North American Property Leader, Mr. Talbott will report to John Lupica, Chairman, Insurance-North America. Consistent with the company's current structure, he will work closely with Chris Maleno, Division President, ACE USA, and Bruce Kessler, Division President, ACE Westchester, in overseeing the company's existing, dedicated retail and wholesale property operations, respectively. It is anticipated that Mr. Talbott will begin his role on a full-time basis September 1st when he relocates from London, where he is currently serving as Executive Vice President, International Property, for ACE Overseas General.

Derek Talbott, Division President, North America Property & Specialty Lines, ACE Group (Photo: Busin ...

Derek Talbott, Division President, North America Property & Specialty Lines, ACE Group (Photo: Business Wire)

Mr. Talbott succeeds Paul McNamee, who has been named Deputy President of ACE's Asia Pacific region.

“We're pleased to welcome Derek to our team in North America,” said Mr. Lupica. “In response to our brokers' and customers' needs, we recently increased critical catastrophe limits across our North American retail and wholesale commercial property lines. With this increased capacity and ACE's broad portfolio of products and services, Derek is well positioned to lead ACE's continued commitment to provide meaningful property offerings to customers and brokers in North America.”

Mr. Lupica added, “I want to thank Paul for his impressive contributions and strong record of achievement in broadening our menu of domestic and multinational property product and service offerings. I wish him much success in his well-deserved new role at ACE.”

Mr. Talbott's responsibilities will encompass ACE's extensive network of retail and wholesale broker-distributed property and first party lines in North America, including customized fronting and captive solutions, ACE's Specialty Catastrophe Unit, the full range of wholesale products, and comprehensive inland marine insurance services, as well as global property, ocean marine, aviation, and the company's Managing General Agent (MGA) relationship with Starr Technical Risks Agency, Inc.

With more than 20 years of experience in the global property insurance arena, Mr. Talbott most recently served as Executive Vice President, International Property, for ACE Overseas General, a position he has held since joining ACE in 2009. He previously held a variety of senior property portfolio management positions based in the U.S., Europe and Asia for a global brokerage firm as well as a global carrier. Mr. Talbott earned a bachelor's degree in History from Middlebury College in Middlebury, Vermont.

ACE's North America Property & Specialty comprises ACE's property-related products and services across the company's North American franchises: ACE USA, ACE Canada and ACE Westchester. ACE Property and Specialty Lines Division, part of North America Property, offers comprehensive risk management solutions for the property, marine, inland marine, energy and aviation insurance needs of U.S.-based companies, ranging from mid-size domestic to large multinational, as well as provides customized fee-for-service engineering consulting for long-term client loss control solutions. For more information about our range of products and services, please visit our website.

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 .

The ACE Group
Carla L. Ferrara, 215-640-4744
Carla.Ferrara@acegroup.com

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