ACE European Group, a subsidiary of the Bermuda-based insurer ACE Group, said it has made some management and organizational changes.
Richard Pryce, currently president of ACE Global Markets, ACE's international and specialty business, will assume additional responsibility for ACE's United Kingdom property-casualty business. The newly combined segment will be known as ACE UK, the company said.
The two entities will maintain distinct brands with separate underwriting management, but Mr. Pryce will have overall responsibility for the two organizations, ACE said.
Michael Furgueson, who led the United Kingdom and Ireland p-c operation, will be returning to the United States as executive vice president for ACE's international commercial and multinational lines business.
David Furby, president of ACE continental Europe, will assume additional responsibilities for Central and Eastern Europe, Russia and the Commonwealth of Independent States, an economic union consisting of Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine.
Andrew Kendrick, chairman and chief executive officer of ACE European Group, said in a statement that the changes would allow the two entities to work more closely together to achieve efficiency and enhance service. Mr. Furgueson will be responsible for a number of strategic initiatives to further improve ACE's global positioning for growth, he said.
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