ACE vice president Dowd to step down

Brian Dowd, vice chairman, ACE Limited, and chairman, Insurance – North America, will retire from full-time service, effective July 1, 2011.

Dowd will continue to serve ACE in a part-time capacity as a member of the Office of the Chairman, reporting to Evan Greenberg, chairman and chief executive officer. He will focus on underwriting-related matters including oversight of the ACE Group’s product boards, the general underwriting disciplines of the company’s profit centers, outward reinsurance placements and run-off operations, as well as special strategic projects.

“On behalf of all my colleagues and our Board of Directors, I want to extend our deepest gratitude to Brian Dowd,” said Mr. Greenberg. “In his 15 years with ACE, Brian has made a tremendous contribution to our company, helping to transform ACE from a small Bermuda-based specialty writer to a top 10 global multi-line insurer. Brian’s leadership, underwriting wisdom and exemplary character have all added to a tremendous legacy here at ACE.

“A great friend and colleague whom I have relied on closely over the years, Brian expressed a desire some time ago to pursue other interests and focus on his family. Over an extended period of time, we thoughtfully and carefully planned this transition. I am delighted that the company and I will continue to benefit from his counsel as a member of the Office of the Chairman.”