Bermuda-based insurer ACE has opened its new London headquarters at 100 Leadenhall Street.
ACE chairman and chief executive officer Brian Duperreault said the new building confirmed the ACE Group's commitment to Europe and the London insurance market.
He said it would allow the group to consolidate its European businesses, which include its Lloyd's operation, ACE Global Markets, and its European branch network, ACE Europe.
"This consolidation means more efficient use of resources," he said. "It is not a signal of retrenchments."
