ACE Bermuda Insurance Ltd. (ACE Bermuda), a subsidiary of ACE Limited (NYSE:ACL), today announced the promotion of Patrick Tannock to Senior Vice President, Professional Lines; Mark Lima to Senior Vice President, Tailored Risk Solutions; Stephen Outerbridge to Vice President, Professional Lines; and Jonathan Evans to Assistant Vice President, Professional Lines.
In announcing the promotions, President and Chief Executive Officer of ACE Bermuda Gary Schmalzriedt said that all four employees exemplify the attributes that differentiate ACE Bermuda from the competition.
"I'm delighted to announce the promotions of these worthy employees who, through their educational achievements, technical skills and knowledge of ACE business and client needs, have consistently demonstrated that they have what it takes to succeed," said Mr. Schmalzriedt. "They will play a pivotal role as we continue to establish ACE Bermuda as a world leader in specialty insurance and reinsurance.
"These promotions reflect ACE Bermuda's commitment to providing risk solutions that are innovative and responsive to the needs of our customers and producers.
"I am also pleased to note that three of the four employees being promoted are Bermudian. As a global company headquartered in Bermuda, ACE is committed to recognizing and rewarding the talent and expertise of our Bermudian staff. Patrick and Mark are examples of our commitment and we are pleased to have them join the ranks of our senior management team. "
Patrick Tannock, who will manage the Professional Lines department of the newly created Casualty Division, will report directly to Mark Herman, Manager, Casualty. Mr. Tannock, a Bermudian who has worked in New York and Bermuda, has 18 years' experience in the international insurance industry. He joined the Directors & Officers (D&O) Division of ACE in 1993 as Assistant Vice President, Underwriting and was promoted in 1995 to Vice President, Underwriting in the D&O Division. Mr. Tannock joined ACE after eight years with Marsh Global Broking (Bermuda) Ltd. where he was Vice President and Manager of the Professional Liability Division.
Mr. Tannock graduated with honours in 1981 from the University of Hartford with a Bachelor Science degree in Business Administration with a double major in Insurance and Finance and a minor in Mathematics.
Mark Lima, also a Bermudian, has over 16 years' experience in the insurance industry. Mr. Lima joined ACE in 1990 after spending five years with the Sedgwick Group in London, where he held the position of Risk Finance Analyst. Mr. Lima spent seven years with ACE as an Excess Liability Specialist, transferring in 1997 to the Tailored Risk Solutions Division, which specializes in Finite, Alternative Risk Transfer (ART) and financially-oriented products. Mr. Lima will continue to report directly to Pierre Samson, Senior Vice President, Tailored Risk Solutions.
Mr. Lima, who holds the Associate of the Chartered Insurance Institute (ACII) designation, received his Masters of Business Administration degree from the College of Insurance in New York.
Stephen Outerbridge, also a Bermudian, joined ACE in 1995 as Underwriter in the D&O Division (now Professional Lines). Mr. Outerbridge was promoted in 1996 to Assistant Vice President, D&O. He has been a participant in ACE's exchange programme, having spent a year at ACE Global Markets. Mr. Outerbridge came to ACE from Marsh Global Broking (Bermuda) Ltd. where he held the position of Assistant Vice President in the Professional Liability Department. He is a graduate of St. Mary's University in Halifax, Nova Scotia, and holds a Bachelor of Commerce degree with a double major in Finance and Marketing.
Jonathan Evans came to ACE in 1997 after four years with Syndicate 484 at Lloyd's of London, during which time he rose to Deputy Class Underwriter. Mr. Evans joined the D&O Division (now Professional Lines) as Assistant Underwriter. He was promoted to Underwriter in 1999. Mr. Evans graduated from Cambridge University in 1991 with a Bachelor of Arts degree in Law. He is an Associate of the Chartered Insurance Institute (ACII) and holds the Lloyd's Market Certificate.
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 .