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4-Traders Homepage  >  Equities  >  Nyse  >  Chubb Ltd    CB   CH0044328745

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136.19 USD   +0.34%
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ACE Limited : ACE USA Appoints Joerg Reinholdt Senior Vice President, National Field Operations in its Foreign Casualty Division

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12/08/2012 | 12:02pm CET

PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operations of the ACE Group, today announced the appointment of Joerg Reinholdt as Senior Vice President, National Field Operations for its Foreign Casualty Division, which is part of ACE Casualty Lines. Based in New York City, Mr. Reinholdt will report to Bryan Tedford, Senior Vice President, ACE USA Foreign Casualty, and will assist in developing and executing the division's business plan and managing the ongoing development and growth of their product portfolio. In this position, Mr. Reinholdt will handle responsibility for field operations, leading a team of foreign casualty underwriters delivering solutions to clients across all nine ACE USA regions. In addition, Doug Guenther has been appointed Assistant Vice President, New York Regional Manager, with responsibility for overseeing the international casualty portfolio for the New York Region.

ACE's foreign casualty product suite offers insurance solutions for U.S.-based companies and organizations that have operations or employees who travel outside the U.S. and its offerings range from guaranteed cost package policies to complex multinational programs with sophisticated risk transfer options.

"We are committed to meeting the unique needs of our U.S.-based, mid-sized, large and multinational clients that do business globally," said Bryan Tedford, Senior Vice President, ACE Foreign Casualty. "Joerg and Doug's new responsibilities reflect our strong commitment to expand our global product offering through tailored insurance solutions accessed through our award winning web-based WorldviewSM client portal."

Ross Bertossi, Division President, ACE USA Casualty Lines, added, "Joerg has been responsible for the growth and continued development of the Foreign Casualty division through his international insurance expertise and proven ability to work collaboratively with brokers and clients on our market capabilities and solutions."

With more than 25 years of international insurance and risk management experience, Mr. Reinholdt joined ACE in 2004 as Vice President, ACE Foreign Casualty, with responsibility for managing the international casualty portfolio for the New York Region. Prior to his tenure with ACE, Mr. Reinholdt held several underwriting and global casualty management positions at two global carriers as well as corporate insurance management positions at a global petroleum company. Mr. Reinholdt received his MBA in Finance and Marketing from Fachhochschule Kiel, located in Kiel, Germany.

Mr. Guenther most recently served as Assistant Vice President, National Accounts Underwriting Manager, Controlled Master Program, for ACE Foreign Casualty. He previously served in several underwriting positions in ACE USA's Excess Casualty Division, and as a senior underwriting position at a global carrier. He began his career as a broker in the banking industry. Mr. Guenther received his bachelor of arts degree in Business Administration, majoring in insurance, from Temple University, located in Philadelphia, Penn.

ACE USA is the U.S.-based retail operating division of the ACE Group, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (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.

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Financials ($)
Sales 2017 27 408 M
EBIT 2017 5 033 M
Net income 2017 4 630 M
Debt 2017 -
Yield 2017 2,05%
P/E ratio 2017 13,80
P/E ratio 2018 12,75
Capi. / Sales 2017 2,31x
Capi. / Sales 2018 2,24x
Capitalization 63 375 M
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Average target price 141 $
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Evan G. Greenberg Chairman, President & Chief Executive Officer
John W. Keogh COO & Chairman-Overseas General Insurance
Philip V. Bancroft Chief Financial Officer & Executive Vice President
Michael G. Atieh Independent Director
Sheila P. Burke Independent Director
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