Ace European is set to become the UK's third largest financial services provider in 2005 after being given the green light to transfer its Belgium-based business into the UK-based company.
From 1 January 2005, the combined business is expected to underwrite 2005 gross written premium in excess of $4bn.
With its headquarters in London, Ace is taking steps to make the company its principle operating platform for property and casualty, accident and health and personal lines business across Europe.
The Ace European Group will continue to trade under its existing three brands: Ace Europe, Ace Global Markets (AGM) and Ace Tempest Re Europe.
