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Reply #119: And the other Ace (Ltd.) did not have a good description either [View All]

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Home » Discuss » Topic Forums » September 11 Donate to DU
DrDebug Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-05-06 07:53 AM
Response to Reply #3
119. And the other Ace (Ltd.) did not have a good description either
Ace Limited is a property & casualty insurer based in Hamilton, Bermuda. (1). Ace is a part of the AIG family cartel and its CEO is Evan G. Greenberg, son of Maurice Greenberg. Ace should not to be confused with cousin Alan "Ace" Greenberg from Bear Stearns. (4)

Ace plays a minor role in 9/11 since it had part of the reinsurance of WTC and added a very specific and usual clause in their contract called WilProp. (3)

Ace sells property & casualty insurance and reinsurance in the US and about 50 other countries. ACE Global Reinsurance, primarily through its Tempest Re unit, provides catastrophe reinsurance to personal and commercial clients. In 1998 in bought Cigna's property and casualty insurance business for $3.5B cash (2)

Through Ace Global Markets, the firm owns four Lloyd's of London managing agencies. Ace USA provides US commercial and casualty insurance. (1)

Through Ace USA, the company owns ESIS, a risk management services company. (1)

Management
  • Chairman: Brian Duperreault (5)
  • CEO: Evan G. Greenberg (4)
  • CFO: Philip V. Bancroft (6)

    Sources:
    1. http://en.wikipedia.org/wiki/ACE_Ltd.
    2. http://en.wikipedia.org/wiki/CIGNA
    3. http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=92675&mesg_id=96758
    4. Biographies of the Greenberg family
    http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=92675&mesg_id=97082
    5. http://www.forbes.com/finance/mktguideapps/personinfo/FromMktGuideIdPersonTearsheet.jhtml?passedMktGuideId=578298
    6. Related to the late Philip Bancroft?
    http://www.forbes.com/finance/mktguideapps/personinfo/FromMktGuideIdPersonTearsheet.jhtml?passedMktGuideId=205264
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