LONDON--(BUSINESS WIRE)--ACE Group today announced the promotion of Neil Bennett to the role of Executive Vice President, Global Reinsurance, for ACE Overseas General (AOG), effective 1 July.
In his new role, Neil will have overall responsibility for ACE’s reinsurance protections for all retail markets outside North America. Neil replaces Nicholas Michaelides, who, after 13 years at ACE and a distinguished career spanning almost 40 years, will retire in the summer.
Neil joined ACE 18 years ago and has close to 40 years of insurance industry experience, spanning a variety of underwriting and claims roles, mainly in London and also in Bermuda. In his new role, he will continue to be based in London, reporting to David Furby, Division President, Commercial Property and Casualty, for ACE Overseas General and to Bill O’Farrell, Chief Reinsurance Officer for the ACE Group.
David Furby, Division President, Commercial Property and Casualty, for ACE Overseas General, said:
“Neil’s experience and in-depth understanding of the insurance and reinsurance markets will add real value to our business. I am confident that his leadership will help us to further develop and implement our reinsurance strategies.”
“I look forward to working with Neil in his new role and would like to take this opportunity to thank Nicholas for his significant contribution both to ACE and to the industry and wish him well for his retirement.”
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 and 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.