ACE Group

Founded less than 30 years ago, Ace group started out with just six employees, all of whom working in its first office in Hamilton. It is thanks to a series of takeovers and mergers that the group has become one of the global insurance leaders. ACE, which is active in 170 countries, has currently 19 000 employees, more than fifty companies and regional offices in 54 countries.

It all started in 1985, when ACE Limited and its subsidiary “ACE Bermuda” were set up in Hamilton (Bermuda) by a consortium of 34 companies. Initially, the group had as main objective to fill in the lack of capacity in third party liability insurance, particularly the one applying to directors and officers.
Starting out as a simple mono-line insurer, ACE managed in less than three decades to undergo successive periods of consolidation and expansion, becoming a market’s giant.

Evan Greenberg	John Keogh
Chairman and CEO	Vice-chairman

ACE Group in 2012

Management

Main shareholders

ACE Group: main highlights

Various steps and acquisitions have marked this exceptional course.

Ratings

Group’s structure

Ace provides a variety of insurance and reinsurance products and a range of services across various operating units.

The group's activity is centered around four poles.

• Insurance - North America: The North American segment gathers the companies ACE USA, ACE Agriculture, ACE Westchester, ACE Bermuda, ACE Private Risk Services and ACE Commercial Risk Services.
• Insurance - Overseas: entity entrusted with the marketing of a wide range of non-life products designed for corporate and individuals in more than 50 countries outside North America. This pole consists of three entities:
  • ACE International which is organized around four areas: Pacific Asia, Latin America, the Far East and EMEA (Europe, Middle East and Africa).
  • Combined Insurance, a member company of the group since 2008, provides additional and customized insurance products designed for middle income consumers in Europe, Latin America and Pacific Asia.
  • ACE Global Markets, an entity which provides additional capacity for non-life, accident and health business from the London market. It operates through ACE Underwriting Agencies (Lloyd's Syndicate 2488) and ACE European Group.

  ACE in the Middle East and Africa

  The Middle East and Africa portfolio is managed by ACE European Group. Based in London, this entity employs 2 600 people and operates in 28 countries including five in the Middle East (Bahrain, Egypt, Saudi Arabia, Pakistan and the United Arab Emirates) and two in Africa (South Africa and Tunisia). Established in 2008 in Bahrain, the ACE MENA regional office coordinates the non-life activity in the Middle East and North Africa while providing technical assistance services. This office is headed by Steve Dixon who is in charge of the Middle East and Africa region.

  Presence of ACE in Africa

  The group’s presence in Africa dates back to 1999, when the South African portfolio of the American insurer, CIGNA, was acquired. The establishment of ACE South Africa has been in effect since July 2006.

  In September 2013, a new branch was opened in Africa. Based in Tunis (Tunisia), this 54 th regional entity covers all the Maghreb countries and underwrites a wide range of reinsurance facultative risks. It is run by Kamal Kaabi.