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Ace Ltd. intends to appoint Juan C. Andrade executive vice president of the new Chubb Group and president of the international nonlife insurance division, effective upon completion of Ace's acquisition of Chubb Corp., Ace announced Friday.
Mr. Andrade currently serves as executive vice president, Ace Group, personal lines and chief operating officer of Ace Overseas General, the company's international nonlife insurance division in more than 50 countries and territories outside North America.
Ace said in a statement announcing the intended appointment that in his future role, Mr. Andrade will have executive operating responsibility for the company's nonlife insurance operations outside of the United States, Bermuda and Canada, including commercial property/casualty, traditional and specialty personal lines, and accident and health insurance. Ace said Mr. Andrade will continue with his current responsibilities, including leading Ace's global personal lines and small commercial insurance business, through the close of the transaction to ensure a smooth leadership transition and integration for those businesses.
Mr. Andrade will report to John Keogh, who is currently vice chairman and chief operating officer of Ace Group and who will continue to serve in that role for the parent company Chubb Group.
Ace announced this summer that it would buy Chubb for $28.3 billion and that the new company would take the Chubb name. The transaction is expected to close early next year.
Ace Ltd. on Tuesday announced the leadership team it intends to appoint for the company's North America field organization following the completion of the acquisition of Chubb Corp., which is expected in the first quarter of 2016.