ACE USA announced today the appointment of Geoffrey G. Gregory to president, ACE Casualty Risk. Based in Philadelphia, Gregory has responsibility for the creation of a new casualty umbrella unit within ACE USA.
ACE Casualty Risk will provide up to $25M in umbrella/excess coverage to businesses whose annual revenues exceed $200M. Coverage will be offered in the first $50M of risk transfer. Additionally, other new product lines will be announced at a future date.
"Geoff has an exceptional industry background and brings a wealth of proven experience to the ACE team," said Susan Rivera, president, ACE INA Holdings, Inc. "His keen understanding of casualty underwriting and business development, coupled with his strong leadership skills, make him an excellent complement to ACE's overall business strategy."
"The current challenges facing the excess casualty product line have created a need for a strong lead excess market. ACE has the financial strength and underwriting capabilities to service this need. ACE's focused business strategy and outstanding people will serve as a solid foundation on which to build the new Casualty Risk business," said Gregory.
Before joining ACE, Gregory held several progressive management roles within AIG including executive vice president and chief operating officer, Excess Casualty Division. In this role he was responsible for establishing and implementing strategic and underwriting direction, including new product development, profitability and production. Additionally, Gregory held various positions with Transamerica Insurance, including regional vice president of the Intermountain Region.
Gregory brings to ACE 25 years of technical experience in all aspects of property and casualty insurance, including 16 years in senior management roles. Gregory obtained his bachelor of arts degree from Rutgers University and later earned his MBA from Regis University.
ACE USA, headquartered in Philadelphia, is the U.S.-based operating division of the ACE Group of Companies, headed by ACE Limited (NYSE: ACE). ACE USA provides insurance products and services through the U.S. operating subsidiaries. ACE USA is rated "A" (Excellent) by A.M. Best and "A+" (Strong) by Standard & Poor's. 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.