The Philadelphia-based members of ACE INA, a part of the ACE Group of Companies, are pleased to announce that Dominic J. Frederico, chairman of ACE INA Holdings Inc., will receive the 2003 Franklin Award from the Philadelphia Chapter of the Chartered Property Casualty Underwriter (CPCU) Society.
Frederico will be the twenty-first recipient of this prestigious award for his leadership; work in advancing professionalism; continuing insurance education; innovations within the industry; and contributions to the community. Pennsylvania Governor Edward G. Rendell will be the keynote speaker at a special luncheon at the DoubleTree Hotel in Philadelphia on March 13, 2003, honoring Frederico.
"CPCU Philadelphia is pleased to honor Dominic for motivating his employees to pursue continuing insurance education," said Valerie Ullman-Katz, immediate past president of CPCU Philadelphia and chairman of the Franklin Award selection committee. "As one of the most respected and admired insurance executives, Dominic’s commitment to supporting the communities where ACE employees live and work has positively impacted the lives of others."
Frederico joined ACE in 1995 as executive vice president, Financial Lines (now ACE Financial Solutions International) of ACE Bermuda Insurance Ltd. (ACE Bermuda). In December 1996, he was appointed executive vice president, Underwriting, ACE Bermuda, and in July 1997 was made president and chief executive officer of ACE Bermuda. Frederico oversaw the successful acquisition and integration of the domestic and international property casualty operations acquired by ACE from CIGNA Corporation in July 1999.
Prior to joining ACE, Frederico spent 13 years working for various subsidiaries of the American International Group (AIG), most recently as senior vice president and chief financial officer of AIG Risk Management. Prior to that, Frederico was executive vice president and chief financial officer of UNAT, a wholly owned subsidiary of AIG headquartered in Paris, France.
Frederico holds a bachelor’s degree and an MBA in Finance from Drexel University, and holds the Certified Public Accountant (CPA) designation in the State of Pennsylvania. He is a member of the boards of directors of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants.
The Franklin Award is given annually to recognize outstanding achievement and contribution to the insurance industry in the Delaware Valley. Established by the Philadelphia CPCU chapter in 1983, the award recognizes persons or groups who have made a significant contribution to the insurance industry that is broad based and reflects high standards. Areas of outstanding contribution designated by the chapter are: continuing education, promotion of insurance, research efforts, innovation within the industry, legislative activities and leadership.
With more than 29,000 members and 160 chapters nationwide, the Society of CPCU promotes and supports continuing education, professionalism, research, high ethical standards, and community services among property/casualty insurance professionals. Members carry the prestigious CPCU (Chartered Property Casualty Underwriter) designation conferred by the American Institute for CPCU, have industry experience, and agree to be bound by an enforceable code of professional ethics.
The ACE Group of Companies, whose ultimate parent is ACE Limited (NYSE: ACE), provides insurance and reinsurance products and services through operating subsidiaries for a diverse group of clients around the world. Additional information can be found at www.ace-ina.com .