With effect from 1 October 2007, ACE European Markets Insurance Limited and ACE European Markets Reinsurance Limited will trade under the business name of ACE Bermuda International (ABI). In addition, the legal company names will change to ACE Bermuda International Insurance (Ireland) Limited and ACE Bermuda International Reinsurance (Ireland) Limited, respectively.
“The ACE Bermuda International brand will bring more clarity to the marketplace with regards to our business model and allow us to align the company more strategically with our parent company, ACE Bermuda,” said Anup Seth, ACE Bermuda International Managing Director, “It provides us with the flexibility to continue our geographic growth and expand the reach of our products to clients within Europe and beyond.”
The Dublin-based ABI operations were established in 1997 to provide low-frequency, high-severity excess capacity to European and international clients, following the underwriting discipline and guidelines developed by its parent company, ACE Bermuda. ABI opened a London-based branch office in 2000.
ABI predominantly writes excess liability, excess property and professional lines business. ABI's dual insurance and reinsurance platforms allow clients to access its capacity via direct insurance or through facultative reinsurance.
Lloyd’s Box
In addition, ABI announced the opening of a new box at Lloyd’s to further complement the company’s business development strategy. The box, which officially opened for business on 1 October 2007 will support ABI’s international expansion and serve as an additional channel to market the company’s existing products.
The ABI box is located on Gallery 2 at Lloyd’s of London, 1 Lime Street, London and is the company’s third European location along with its offices at the International Financial Services Centre in Dublin and 100 Leadenhall Street, London.
Stephen French, Chief Underwriting Officer in ABI’s London branch office, commented, “This is a significant milestone in the ongoing development and expansion of ABI’s European and international business. The box gives us an additional distribution channel to reach and better serve our brokers and clients and provide access to our property, excess liability and professional lines capacity.”
ACE Bermuda International Insurance (Ireland) Limited and ACE Bermuda International Reinsurance (Ireland) Limited are wholly owned subsidiaries of ACE Bermuda Insurance Ltd. (“ACE Bermuda”) and members of the ACE Group. Additional information can be found at www.acebermudainternational.com
The ACE Group of Companies is a global leader in insurance and reinsurance, serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component of the Standard & Poor’s 500 stock index, the ACE Group of Companies conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.