ACE Creates New Head of Casualty Insurance Role for Eurasia and Africa

ACE Group today announced the creation of a new underwriting management role for its Eurasia and Africa region and the promotion of Shankar Krishnan, currently Casualty Underwriting Manager for MENA, to the position. The appointment is the latest in a series of new management positions within its newest geographical business region to be announced in recent weeks, which have included regional heads of travel insurance and property risk engineering.

Shankar will be responsible for the performance and development of ACE’s expanding portfolio of casualty business and the team of local casualty underwriters across the region’s nine markets in the Middle East, Turkey, Africa and Russia. Under his leadership, the team will continue to develop its product offering in line with evolving customer needs and will work with ACE’s casualty teams in other regions to share insights and best practice for the benefit of customers.

Shankar will continue to be based in Dubai, reporting to Giles Ward, Regional President, Eurasia and Africa at ACE with an additional reporting line to Mark Homan, Executive Vice President for Global Casualty, ACE Overseas General. The appointment is effective 1 April.

Shankar has 20 years of insurance industry experience spanning both casualty and other lines. He joined ACE in May 2011 in his current role and has since overseen the successful development of our casualty book in MENA. Before joining ACE, Shankar served in progressively senior underwriting and management roles for AIG, latterly as Branch Manager in Dubai. Previously, he worked in Dubai and in India for a number of other insurance and broking organisations.

Mark Homan, Executive Vice President of Global Casualty at ACE Overseas General, said:

“Shankar’s extensive profit centre responsibilities and the breadth of his experience – spanning underwriting, reinsurance, claims, distribution and general management – equip him strongly for this important new role. I look forward to working with him as we continue to grow our business.”

Giles Ward, Regional President, Eurasia and Africa at ACE Group, said:

“As the latest in a series of appointments in ACE’s newest business region, this is a further demonstration of our commitment to building our specialist insurance presence across Eurasia and Africa and our confidence in our ability to provide relevant casualty solutions for the market.”

ENDS

About ACE:

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 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.

Visit www.acegroup.com/eu

ACE GroupNicholas MandalasRegional Communications Manager, Europe, Eurasia & AfricaT: [phone]E: [e-mail]