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ACE Forms New Structure, Creates New Business Segments

Will focus on delivering responsive technical expertise and service support, aligned directly to the needs of brokers and clients in the UK and Ireland

ACE has announced a new operating structure in the UK and Ireland. The company has created two distinct business segments, a new senior regional management structure and launched a range of cross-class products.

The two business segments are Major Risks and Corporate. They will focus on delivering responsive technical expertise and service support, aligned directly to the needs of brokers and clients in each of these segments. The segments will have dedicated underwriting and business development teams covering both P&C and A&H, said the company.

The Corporate segment intends to focus on distribution to the UK and Ireland mid-corporate sector, providing brokers with access to ACE’s P&C and A&H product and service proposition, with underwriting and sales activities for both classes working closely to ensure a seamless service. Pat Drinan, currently National Distribution & Development director for UK & Ireland, will become director of Corporate Risk.

The Corporate segment strategy will see ACE extending its plan to the regional operations by establishing a senior level management structure covering five regions supporting the 11 branch offices. The structure will provide each region with strong local leadership and direct accountability for their operations and performance.

The company claims that it will also be launching a series of multi-line products targetted at specific industry sectors, ranging from retail to construction. It is designed to offer a range of relevant covers reflecting the specific needs and buying patterns of brokers and their clients in this segment.

The Major Risks business segment is headed by Phil Sharpe, director of Casualty and Major Risks. This segment has already established its position by aligning the Major Risks team’s capabilities, approach and structure to support its defined distribution partners.

Richard Pryce, president of ACE UK, said: “These changes represent a significant investment in ACE’s platform. These developments will enable us to build our presence further with a structure that better aligns our service capabilities and underwriting expertise directly with the needs of brokers and clients. Increasing local empowerment and facilitating broker access to a broader range of products are key to achieving our ambitious growth plans for the UK and Ireland business.”