Special Risk Facilities (SRF), a division of ACE USA, the U.S. Operations of the ACE Group of Companies (NYSE: ACL), recently appointed C. William Cole as senior vice president of Group Facilities. In this role, Cole is responsible for the fronting operation of ACE USA, which makes available the tools and services that will allow aggregators of middle market risk -- reinsurers, captives, associations, managing general agencies and self insurance trusts -- to assume traditional risk transfer.
“We are pleased to bring Bill Cole on board to spearhead a key centerpiece of present and future profitable growth for Special Risk Facilities,” said William Curcio, president of SRF. “ACE USA is proud and excited to have been able to attract to our company someone of Bill’s proven track record and reputation in the area of multiple insured program business.”
“This is a very exciting opportunity,” said Cole. “ACE’s resources, which include rent-a-captive facilities, claims management, and premium financing, as well as the ACE-INA infrastructure of licensed companies and rate and form filings, combine to offer enormous flexibility to the reinsurance and managing general agency communities.”
“We believe ACE USA has the financial strength, the breadth of licenses and filings, and the wide-ranging expertise (in both the traditional market and alternative risk transfer) to be the best service provider an aggregator of risk could need,” Cole added.
Cole joins SRF from Swiss Reinsurance Corporation, where he served as senior vice president, director of programs. There, Cole was responsible for both production and profitability of program business. Prior to that, he served as vice president, chief underwriter of NAC Reinsurance Corporation, where he provided the marketing, underwriting and program management expertise for the company’s primary insurance through general agencies and associations, as well as fronting for other insurers. Cole also has many years of primary insurance experience with Orion Capital Companies.
Cole is a graduate of Brown University (BA) and has completed coursework at Bryant College toward an MBA, and at the University of Hartford toward an MS (equivalent of CPCU) certification.
ACE USA, headquartered in Philadelphia, is the U.S. operations of the ACE Group of Companies, headed by ACE Limited (NYSE: ACL). On July 2, 1999, ACE Limited completed the acquisition of the property and casualty insurance business of CIGNA Corporation. ACE USA provides insurance products and services through the U.S. operating subsidiaries. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world. Additional information can be found at: www.ace-ina.com .