A group of companies that has a Lloyd's syndicate and an extensive UK and global operation covering a wide range of risks
Company name: ACE European group comprises: ACE Global Markets, the company behind Lloyd's Syndicate 2488; ACE INA UK, a new FSA-regulated company; and ACE Europe, currently based in Belgium, but due to move to London.
Address: The ACE Building, 100 Leadenhall Street, London EC3A 3BP.
Phone number: 0207 173 7000
Email: centre@ace-ina.com
ACE INA UK lines of business:
Professional lines
Property
Energy
Inwards reinsurance
Some A&H, marine and political risk
ACE Global Markets lines of business:
Aviation
Marine
Some property, professional lines, political risk, A&H, energy, inwards reinsurance.
Key contacts
Gary Schmalzreidt, group president and chief executive
Andrew Kendrick, active underwriter
Steve Burridge, business development manager
ACE Global Market's Lloyd's Syndicate 2488 has a capacity of £725m for 2003. This is already based in London and regulated by Lloyd's and the FSA.
ACE Europe has a slightly higher capacity for 2003 than ACE Global Markets and is regulated in Belgium, with 60% of its capacity written into the UK through offices all over the UK. Schmalzreidt said that ACE Europe will be "moving lock, stock and barrel" to London over the next two years.
ACE INA UK started writing business on 1 January 2003 and has a 2003 capacity of £280m. It has a Standard & Poor's rating of A+. Claims will be handled by Xchanging Ins-sure Services' London Processing Centre.
Brokers interested in working with ACE are scrutinised by the company's broker review committee. Any ACE-approved broker can present risks to ACE INA UK and underwriters can be accessed via the company's trading floor at 100 Leadenhall Street, London.
ACE also has a client advisory panel. This is a panel of risk managers and other insurance buyers that advises the company on key service and cover issues.
The company uses a paperless system of transaction assisted by an imaging system for transferring written documents into electronic format.
All claims are handled by in-house personnel. There is no third party administration.
