Reshuffle means new boss at ACE Tempest Re
ACE Group has reshuffled its senior leadership team appointing a new executive vice president responsible for global underwriting and a new president of its reinsurance division ACE Tempest Re.
Jacque Bonneau becomes executive vice president, global underwriting, with executive responsibility for advancing underwriting excellence across the company.
James Wixtead will succeed Bonneau as senior vice president, ACE, and president of ACE Tempest Re Group, the company's global reinsurance business. He will be responsible for leading the company's global reinsurance business operations and will report to CEO Evan Greenberg.
Working with ACE vice chairman and chief operating officer John Keogh and vice chairman John Lupica, as well as with ACE’s product line executives across the company, Bonneau will be responsible for general underwriting policy, underwriting and underwriting management best practices, and oversight of ACE’s global product boards.
Bonneau will also have executive oversight of reinsurance strategies for ACE Group. In this latter capacity, William O’Farrell, ACE vice president and chief reinsurance officer, will now report to Bonneau.
“I’m pleased to appoint Jacques Bonneau to this important role for our company,” said ACE chairman and chief executive officer Greenberg. “We are an underwriting company. Everything at ACE begins with the pursuit of underwriting excellence – it is a never-ending journey. With more than 30 years of industry experience, Jacques is an underwriter’s underwriter. His underwriting insights and instincts will benefit all areas of our company.”
Greenberg said: "It is my pleasure to appoint Jim Wixtead to head our global reinsurance business. I've known and worked with Jim for over ten years, I have witnessed his underwriting discipline and I have watched him grow and develop into a great executive.
“With more than 25 years of reinsurance industry experience, Jim has done an outstanding job leading ACE's North American reinsurance business and has earned this well-deserved promotion. I have every confidence in his abilities to sustain ACE Tempest Re's record of excellence."
Meanwhile, Wixtead’s role has been given to Michael O'Donnell who has been appointed division president, ACE Tempest Re USA.
Currently senior vice president and responsible for ACE Tempest Re USA's workers compensation and alternative risk business units as well as oversight of its claims operations, O'Donnell will lead ACE's reinsurance business in the US. He will continue to report to Wixtead.
“Mike has demonstrated both leadership excellence and broad industry expertise in his eight years with ACE and 15 years in the reinsurance business. He is a natural to now lead our U.S. reinsurance operations," said Wixtead. "I look forward to continuing to work closely with Mike and the entire team to provide our clients with stable, secure and substantial capacity as well as creative alternative risk solutions."
ACE has also appointed Ed Zaccaria, currently division president, regional operations at ACE USA, as chief underwriting officer, insurance—North American. He will report to Lupica and Bonneau.
