1 May 2013 Insurance

Ace appoints president director following acquisition

Tim Shields has joined Asuransi Jaya Proteksi, (Japro) – an Indonesian insurer recently acquired by ACE Insurance – as president director.

Shields has over 20 years of experience in the insurance industry that spans roles in the UK, Middle East and Asia. Prior to joining ACE in 2012, he was the managing director for United Arab Emirates for an international insurance firm, after a four-year posting as vice chairman and managing director of Egypt.

“Indonesia is a strategic growth country for ACE,” said Damien Sullivan, regional president ACE Asia Pacific. “Our acquisition of Asuransi Jaya Proteksi provides us with the ideal platform to accelerate our expansion plans in this exciting country, particularly in the areas of personal lines and small commercial business insurance. Tim has the appropriate business acumen and seasoned leadership skills to ensure ACE realises its strategic plans in Southeast Asia’s largest economy.”

Japro’s current president director Sujaya Dinata Pangestu will become vice president director while, Peter van Ratingen, president director of ACE INA will assume the role of regional bancassurance head. The latter will resume his position following the merger of Japro with ACE’s existing local operations, PT ACE INA Insurance, which will significantly enhance ACE’s general insurance operations in Indonesia.

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