ACE USA Special Risk Facilities (SRF), which recently announced its new organizational structure since acquiring the CIGNA P&C business in July, has named Ric Pena to its executive management team. As senior vice president, Pena will lead the Pacific Region, which includes the headquarters office in San Francisco and a Los Angeles branch.
"Ric has 12 years of experience in the SRF business with CIGNA that will serve our organization well," said SRF President Bill Curcio. "He's a seasoned executive with expertise in all areas of the business and has a strong reputation and the respect of clients and brokers in the region. I am pleased to have him serve on our executive management team."
SRF's new executive team will lead the four major business units - Core Casualty, Casualty Specialty, Financial Products and Financial Solutions Group - operating through five regional territories: Northeast, Atlantic, Midwest, Southwest and Pacific. "By designating a senior vice president to lead each region, we've moved decision-making and accountability closer to our customers. These accomplished field executives will be of equal rank and assume responsibility for the profit and loss margins within their regions," Curcio said.
Pena has spent most of his career with CIGNA, specializing in large-risk accounts. Prior to his current role, he served as regional casualty manager of West Coast operations, where he headed up the major casualty product line. He has held various management positions in the Houston office, including standard casualty manager and business development manager.
"I am looking forward to building on the well-deserved reputation SRF has earned among its large-risk customers," Pena shared. "Serving the Pacific Region from the San Francisco office will provide an even greater opportunity to service customers, especially those which I already have strong relationships with."
Pena is a graduate of Texas A&M (B.B.A., Finance) and resides in San Ramon, CA with his family.
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ACE USA, headquartered in Philadelphia, is the U.S. operations of the ACE Group of Companies, headed by ACE Limited (NYSE: ACL). On July 2, 1999, ACE Limited completed the acquisition of the property and casualty insurance business of CIGNA Corporation. ACE USA provides insurance products and services through the U.S. operating subsidiaries. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.