Tempest Reinsurance Company Limited (Tempest Re), a subsidiary of ACE Limited (NYSE:ACL), today announced that Jacques Q. Bonneau has been apppointed to lead Tempest Re's multiline expansion into the U.S. reinsurance market. Initially, Mr. Bonneau will be responsible for developing a detailed business plan, recruiting a core team of reinsurance professionals and determining the optimal structure and focus of the U.S.-based operation.
Mr. Bonneau has 21 years' experience in the insurance and reinsurance industry, most recently with Chartwell Re Corporation where he held the position of Senior Executive Vice President and Chief Underwriting Officer. Prior to working at Chartwell, Mr. Bonneau was Senior Vice President of Trenwick America Group, where he managed the special treaty and programme department.
Chairman and Chief Executive Officer of ACE Limited, Brian Duperreault, said: "Tempest Re's multiline expansion plans into the U.S. will benefit greatly from Jacques Bonneau's entrepreneurial leadership ability and excellent reputation. His appointment is clear evidence of ACE's continuing commitment to its development as a leading global insurer and reinsurer".
John Engeström, Chief Executive Officer of Tempest Re, said: "We are extremely pleased to have been able to attract someone of Jacques's caliber and experience to lead our expansion into the U.S. market. Our development as a multiline provider of reinsurance is a strategic complement to our strong Bermuda-based franchise in the property catastrophe market place".
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.