Corporate round-up

ACE appoints Mark Homan as Executive Vice President of its international casualty business ACE will promote Mark Homan to the position of Executive Vice President, Casualty for its international operations on July 2012. Mr Homan will replace Keith Stibbards who is retiring. In his new role Mr Homan will be responsible for ACE’s commercial liability business in 50 countries throughout Europe, Asia, Latin America, the Middle East and Africa.hideHe will continue to be based in London and will report to David Furby, Division President, Commercial Property & Casualty, ACE Overseas General. Mr Stibbards, who is retiring after more than 40 years industry, will continue to serve ACE in an advisory capacity. Mr Homan has served as Senior Vice President, Casualty, for ACE’s international insurance operations since joining the company in early 2011. Prior to his time with ACE he held management positions in Europe for Chartis from 2001 to 2010 and underwriting positions in Europe and the US for Allianz, where he began his insurance career in 1993. “We are delighted to have an underwriter of Mark’s calibre in this key role,” said Mr Furby. “His leadership experience and wealth of expertise in liability classes ideally position him to lead our international casualty team as we continue to grow and develop this business around the world. At the same time, we would like to thank Keith for the huge contribution he has made to ACE over a long and distinguished career. We congratulate him upon his retirement and wish him all the best for the future.” Chubb appoints Docherty as Active Underwriter for Lloyd’s Syndicate Chubb has appointed Kevin Docherty as Active Underwriter for its Lloyd’s Syndicate, 1882. In his new role Mr Docherty will provide strategic leadership and direction for all underwriting areas for Chubb at Lloyd’s, and will report directly to Michael Casella, CEO of Chubb Managing Agent Ltd and Chubb Europe. Mr Docherty joined Chubb in 2003, initially developing its UK Retail Cargo portfolio before, in 2007, taking on the role of Marine Manager for Europe. “I look forward to building on the strength of the 1882 Syndicate and to working with our team of specialist underwriters, all of whom are leaders in their lines of business. These include marine cargo, marine hull, construction, financial lines and event contingency business,” he said. Michael Casella commented: “The business we write at Lloyd’s is an important part of our overall growth strategy, and in his new role Kevin will be a driving force towards achieving our targets across all markets, products and specialisms.” AM Best opens Dubai hub AM Best has opened an office in the Dubai International Financial Centre (DIFC) to develop its presence in the MENA and south and central Asia region. The new operation will be called AM Best MENA, South & Central Asia and hopes to develop new relationships in the region and grow the rating agency’s insurance ratings franchise. Vasilis Katsipis, General Manager of Market Development at AM Best, will be responsible for the office in Dubai and will report to Nick Charteris-Black, Managing Director, Market Development at AM Best EMEA. Rating analytics will continue to be performed by teams based in London and Hong Kong. AM Best obtained the necessary approvals to establish within the DIFC in February. Abdulla Mohammed Al Awar, CEO of DIFC Authority, said, “Amidst the constant development in the world of financial services there has been a rapid growth in the insurance industry. To provide comfort to policy holders, companies in that industry need reputable rating agencies of AM Best’s calibre to assess their creditworthiness. We are very proud to have the pioneers of the concept of financial ratings that specialise in insurance establish their regional presence in DIFC. We look forward to supporting their business here and working with them to further develop the financial services industry in the region.”

Corporate round-up

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