ACE Announces Two Senior Leadership Appointments for Europe

ACE Group today announced two appointments within its European management team, with immediate effect.

Drazen Jaksic, currently Executive Vice President for Combined Insurance in Europe and Asia Pacific, has been appointed to the role of Senior Vice President, Accident and Health for Europe and Eurasia and Africa. In his new role, Drazen will be responsible for the performance and future development of ACE’s accident and health and life business across these regions. Drazen succeeds Pat Drinan, who has decided to move on from ACE after almost 13 years with the company.

Drazen has more than 20 years of insurance industry experience in both the UK and Continental Europe. After working in various senior management roles, including at GE Capital and Prudential UK, he joined ACE in July 2012 as General Manager for Combined Insurance, Europe and subsequently assumed additional responsibility for Combined’s businesses in the Asia Pacific region. In his new role, Drazen will continue to be based in London, reporting to Andrew Kendrick, President of ACE European Group and Edward M. Levin, Senior Vice President, ACE Group, and Division President, Accident and Health, for ACE Overseas General.

Rahim Firozali, currently General Manager of Combined Insurance in Portugal has been promoted to the role of General Manager for Combined in Europe, succeeding Drazen Jaksic. In his new role, Rahim will be responsible for the performance and future development of the Combined Insurance’s European operations, which currently include businesses in the UK, Portugal and Germany.

Rahim joined Combined Insurance 18 years ago after working in investment banking. In 2010, he was appointed as General Manager for Combined in Portugal and legal representative for the Portuguese branch of ACE European Group Limited. In his new role, Rahim will continue to be based in Portugal and to lead the Combined Portugal business. He will report to Andrew Kendrick, President of ACE European Group, with a matrix reporting line into Brad Bennett, President of Combined Insurance.

Andrew Kendrick, President of ACE European Group, said:

"2015 ends on a high note, with two great appointments within our European senior management team. Drazen’s energy and drive in leading Combined in Europe, and his deep understanding of the consumer insurance market gained throughout his career, make him well placed to head our important regional accident and health business. For his part, Rahim’s extensive experience of our Combined businesses and his ability to drive growth In Portugal throughout a challenging time for the economy equip him strongly for his new role. I look forward to working with them both in their new positions.”

"Drazen succeeds Patrick Drinan, who leaves the company with our sincere thanks for his significant contribution to our property and casualty and accident and health businesses in Europe over more than a decade of service. All of us on the European executive team wish him well for the future.”

ENDS

About ACE:

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.

Visit www.acegroup.com/eu

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