ACE USA, the U.S.-based retail operations of the ACE Group, today
announced the appointment of Mitchell Schmidt as Senior Vice President
and Regional Executive Officer for ACE USA's Northeast Region. Mr.
Schmidt will be based in Boston, and will be responsible for setting and
driving the overall strategic direction for ACE USA's Northeast region.
He will work collaboratively with the Northeast regional team to oversee
all business development, retention and underwriting activities,
establish distribution strategies, and service delivery to middle and
large account commercial customers. Mr. Schmidt will report to Ed
Zaccaria, Division President, ACE USA Regional Operations.
Karen Sothern, who has served as Senior Vice President and Regional
Executive Officer for ACE USA's Northeast Region since 2002, now assumes
a new global role as Change Management Officer for Acquisitions, for the
ACE Group reporting to Evan G. Greenberg, Chairman and Chief Executive
Officer, ACE Limited.
"The Northeast regional market represents significant growth
opportunities for ACE. Mitch has been instrumental in the ongoing
development of ACE USA's custom casualty and renewable energy
businesses. His excellent track record and leadership will be an asset
in overseeing our Northeast team and delivering additional value to our
clients and brokers in the region," said Mr. Zaccaria. "I would also
like to acknowledge Karen's outstanding leadership and dedication in
establishing ACE's position in the Northeast region for nearly a decade."
"Expanding our market presence and delivering ACE's broad spectrum of
products and services, and exceptional service through locally-based
staff in our key locations across the United States is an important part
of ACE USA's regional management platform," said Chris Maleno, Chief
Operating Officer, ACE USA. "Mitch's demonstrated underwriting expertise
and proven ability to work collaboratively with brokers and clients will
enable ACE USA to further differentiate itself in the Northeast."
With more than 15 years in the insurance industry, Mr. Schmidt most
recently served as Senior Vice President and National Underwriting
Manager of ACE USA's Custom Casualty & Public Entity Units. He has held
several senior underwriting positions at ACE, including serving as
Western Zone Manager, with responsibility for the excess liability and
custom casualty product offerings for five of the nine ACE USA regions.
Mr. Schmidt joined ACE in 2003 from Chubb Insurance Group, where he held
several branch and regional casualty management and underwriting
positions, including Midwest Regional Excess Casualty Manager. Mr.
Schmidt received his Bachelor of Science degree in Political Science and
Business from Bethel University, in St. Paul, Minn.
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.
ACE North America Communications
Carla Ferrara, 215-640-4744