ACE Establishes Global Property Engineering Unit

Raimund Navakas Appointed as Senior Vice President, Global Property Engineering

PHILADELPHIA--()--ACE Group today announced the creation of a Global Property Engineering unit, established to provide seamless and consistent engineering risk management services to clients worldwide. As organizations increasingly operate their business on a global basis, ACE recognizes that risk managers need access to uniform services and comprehensive real-time risk control report data.

To lead the new global unit, Raimund Navakas has been appointed Senior Vice President, Global Property Engineering. Formerly Vice President and Regional Manager of Risk Management Engineering Services for the company’s Asia Pacific region, Mr. Navakas will lead the integration of ACE’s regional engineering operations around the world, using data analytics to drive results and to ensure that ACE offers best-in-class solutions for risk managers, regardless of location. Mr. Navakas will relocate from Sydney, Australia, to New York City and will report jointly to Paul O’Neill, Chief Underwriting Officer, North America Property & Specialty Lines, and Jarrod Hill, Executive Vice President, Property, ACE Overseas General.

“In today’s global market, risk managers need access to seamless engineering on a worldwide basis. The fundamentals of property insurance are the same, regardless of where that property is located. Similarly, we recognize the need for a uniform quality of our consulting service offerings,” said Mr. O’Neill. “Under Rai’s leadership, ACE will be able to offer seamless property engineering services to our insured clients for their operations around the world, providing a common platform for the efficient management and delivery of service results.”

“The establishment of the new Global Property Engineering unit is an example of ACE’s continued commitment to meeting the needs of multinational organizations. The unit brings all of our engineering resources together, ensuring we can better manage the resources we already have in place and provide superior value-added property risk assessment and loss prevention services to our clients. We’re pleased to have Rai lead this initiative to unlock the full benefit of our global expertise for our clients,” said Mr. Hill.

Mr. Navakas brings more than 30 years of engineering and risk engineering experience. He began his career with the Royal Australian Navy, serving for 13 years before entering the insurance sector as a risk engineer. In his most recent role at ACE, he served as head of risk management engineering services for the company’s casualty, property, marine, energy and technology lines in Asia Pacific. During his career, Mr. Navakas has specialized in working with major global clients in a number of industry sectors, including but not limited to semiconductor fabrications, telecommunications, mining and food and beverage manufacturing. He is presently a serving member of the Royal Australian Navy Reserve, in the rank of Commander. Mr. Navakas holds a Bachelor of Engineering (Electrical) and a Master of Commerce, and is a licensed electrical contractor.

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 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 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.

Contacts

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com

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Contacts

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com