ACE Group has announced the creation of a new business unit aimed at large companies in the Asia Pacific region.
ACE International Excess (AIE) will aim to “provide commercial property insurance on an excess basis,” in the region.
Taking its cue from ACE Bermuda International, ACE’s existing high excess unit, the new entity will provide cover for exposures that are low in frequency and high in severity.
Troy Sexton will take the reigns of the company, with 18 years experience in the corporate insurance market having joined Ace New Zealand as the company’s property manager in 2002.
Sexton will report to deputy regional president and regional head of property and casualty, Paul McNamee, who said of the appointment: “We are particularly fortunate to have Troy in this role given the depth of his experience gained from both his stint in Europe and, more recently, his time as Strategic Property Manager, Asia Pacific.”
Global underwriting head of excess property, Rob Rebellato, added that the new entity will see ACE continue its expansion into the region.
“As ACE Group continues to expand its high excess property portfolio geographically, having an underwriting unit in the Asia Pacific region will improve our access to that growing market-place and enable us to service our clients and brokers more effectively.”
AIE will offer natural catastrophe cover, all risk coverage on a follow form basis, power generation, on-shore energy and mining cover and engineering insurances.