ACE Strengthens Management Team in Germanic Region

ACE Group today announced two senior management promotions within its Germanic region as it continues to invest in building its business and market relationships across Continental Europe.

Dankwart von Schultzendorff, Country President for the Germanic region, has been promoted to the newly created position of Chairman, Germanic region. In this role, he will be responsible for maintaining and further developing ACE’s relationships with clients and brokers, including the communication of ACE’s capabilities and risk appetite, and the development of its customer proposition. He will also act as ACE’s principal representative for major industry forums and associations in the region. He will be based in Hamburg.

Additionally, Dankwart will support ACE’s multinational segment across Continental Europe more widely, by providing leadership and strategic direction for ACE’s growing team of Global Client Executives based in the region. He will continue to report to Joseph Clabby, Regional President, Continental Europe.

Dankwart has 23 years of insurance industry experience and has been with ACE in his current role for five of these. He joined ACE from a leading German broker and prior to this he served successively in senior management roles at a number of German insurance companies with responsibility for commercial and industrial insurance.

At the same time, Andreas Wania, Chief Operating Officer, Germany has been promoted to the position of Country President, Germany. He will be responsible for all aspects of the country’s operations, including setting strategy and direction, managing financial performance and delivering profitable growth. He will be based in Frankfurt and will report to Joseph Clabby. Andreas will have full management responsibility for the ACE team in Germany, and will retain his current responsibility for ACE’s business in Turkey, supported by Country President Ebru Gurtan and her team in Istanbul.

Andreas has almost 20 years of insurance industry experience, including nine at ACE. Prior to his appointment as Chief Operating Officer for Germany in October 2011, he held various management positions within the company, with responsibility for ACE’s operations in Russia and Central and Eastern Europe. Before joining ACE, Andreas held positions of increasing responsibility within the Allianz Group and FM Global in Germany and Russia.

The above changes will take effect on 8 April 2013, and are subject to regulatory approval.

Andrew Kendrick, Chairman, ACE European Group, said:

"Together, Germany, Switzerland and Austria represent a strategically important market cluster for ACE. Its economic outlook is stronger than most in Europe, powered in significant part by growing trade links with many emerging markets. These promotions reflect our continued commitment to building ACE’s profile across Continental Europe and further strengthening our relationships with brokers and clients, not least in the multinational segment.”

Joseph Clabby, Regional President, Continental Europe at ACE Group, said:

"Dankwart’s strong track record of managing our Germanic regional operations over the past five years, combined with his wider industry and broking experience make him the right choice for this important new market-facing role of Chairman of our Germanic region. Meanwhile, Andreas’ oversight of ACE’s strategy and development in several markets as well as his recent experience as Chief Operating Officer in Germany equip him perfectly for the role of Country President. I look forward to working with them both to drive our business and market relationships to the next level.”

About ACE:

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 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.