ACE Overseas General announced today that it has formed a new international construction practice group to address the world’s growing regional commercial construction and infrastructure activity. ACE International Construction aligns new and existing ACE capabilities in construction underwriting with the retail distribution platforms of regional and global broking operations.
The new international group draws on resources from the ACE Technical Risks unit, based in London, among other product areas, to offer a broad range of insurance lines for private and public sector construction risks. The practice group will have on-the-ground regional operations in the U.K., Continental Europe, Asia Pacific, the Middle East and Latin America.
ACE International Construction will be led by David Walters, Vice President. Based in London, Mr. Walters will report to Paul McNamee, Senior Vice President and Head of International Property.
“A healthy amount of public sector and private equity investment is taking place around the world as both developed and developing nations upgrade and expand their infrastructure,” said John Keogh, Chief Executive Officer, ACE Overseas General. “ACE International Construction brings full capabilities, from underwriting through claims, closer to the source or the business – whether that’s a power plant in Brazil, an oil and gas infrastructure project in the Middle East, a stadium in Beijing or a hotel resort project in Macau.”
ACE Overseas General is the international property and casualty insurance operations of the ACE Group of Companies. The ACE Group of Companies is a global leader in insurance and reinsurance, serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component of the Standard & Poor’s 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com.
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