ACE Bermuda, a wholly owned subsidiary of ACE Limited (NYSE:ACL), announced today that Rees Fletcher has been appointed to the position of Senior Vice President, Excess Liability. Mr. Fletcher's promotion is effective immediately.
ACE Bermuda also announced that the Excess Liability and Professional Lines Divisions, which were combined as a part of the restructuring of various divisions in December last year, will now be called the Casualty Division. Head of the new division will be Mark Herman, who assumes the title of Manager, Casualty.
Mr. Fletcher, a Bermudian, will report directly to Mr. Herman.
"I am delighted to announce Rees' promotion to this new position in the Casualty division," said Mr. Herman. "His 11 years' experience in excess liability underwriting, as well as the longstanding relationships he has developed with our customers and producers, will help this division move from strength to strength."
President and Chief Executive Officer of ACE Bermuda, Gary Schmalzriedt, said that Mr. Fletcher's role as head of Excess Liability will be pivotal.
"The restructuring at ACE Bermuda was undertaken with our customers and producers in mind", said Mr. Schmalzriedt. "Rees will play a key role in identifying new opportunities for the Casualty Division presented by our current and potential client base. Rees has proven that he has the expertise and the ability to handle this new assignment.
"I am proud to have an employee of his calibre at ACE Bermuda."
Rees Fletcher joined ACE in 1989 after spending six years with Bermuda Fire and Marine Insurance Company, where he held the position of Controller - Commercial Lines with underwriting responsibilities for commercial property and casualty accounts.
Mr. Fletcher is a graduate of Mount Allison University, New Brunswick, Canada. He is an Associate member of the Chartered Insurance Institute (ACII), having gained his designation in 1988. Mr. Fletcher is President of the Bermuda Insurance Institute and a member of the Steering Committee of the Bermuda Foundation for Insurance Studies.
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at:
www.acelimited.com
.