ACE Overseas General has formed a new international construction practice group to address the world’s growing regional commercial construction and infrastructure activity. Vice President David Walters, based in London will lead ACE International Construction, reporting to Paul McNamee, Senior Vice President and Head of International Property.
A Company bulletin said the new unit “aligns new and existing ACE capabilities in construction underwriting with the retail distribution platforms of regional and global broking operations.” It will draw “on resources from the ACE Technical Risks unit, based in London, among other product areas, to offer a broad range of insurance lines for private and public sector construction risks. The practice group will have on-the-ground regional operations in the U.K., Continental Europe, Asia Pacific, the Middle East and Latin America.”
John Keogh, CEO – ACE Overseas General noted the “healthy amount of public sector and private equity investment” that is currently going on worldwide as “both developed and developing nations upgrade and expand their infrastructure.”
He added that ACE International Construction “brings full capabilities, from underwriting through claims, closer to the source or the business – whether that’s a power plant in Brazil, an oil and gas infrastructure project in the Middle East, a stadium in Beijing or a hotel resort project in Macau.”
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