ACE Limited (NYSE:ACE) announced today that Sean Ringsted has been
appointed Chief Risk Officer for the ACE Group of Companies. In this
role, which will be in addition to his current responsibilities as Chief
Actuary, Mr. Ringsted will be responsible for the continued development
and implementation of ACE’s risk management strategy and processes,
including continuing to serve as chair of ACE’s Enterprise Risk
Management (ERM) Board and ensuring a consistent risk management
framework across the company. He will report to ACE Limited Chairman and
Chief Executive Officer Evan Greenberg.
"Sean is a natural choice for this important function, a role which he
has in fact been performing for some time now as chair of our ERM
Board,” said Mr. Greenberg. "As Chief Actuary, he has been a primary
architect of ACE’s current risk management environment, which has served
our company well in recent years. We are now simply formalizing
accountability and further recognizing our commitment to risk management
Mr. Ringsted, who will continue to be based in Bermuda, has been ACE’s
Chief Actuary since 2004, responsible for all major actuarial functions,
including reserving, pricing and capital performance measurement. From
2002 to 2004, Mr. Ringsted served as Chief Risk Officer for ACE’s global
reinsurance business. He joined ACE Tempest Re as Senior Vice President
and Chief Actuary in 1998, when ACE acquired CAT Limited. Previously,
Mr. Ringsted had worked as a consultant for Tillinghast-Towers Perrin in
the United States.
Mr. Ringsted holds a bachelor’s degree in biochemistry from Bristol
University and a doctorate in biochemistry from Oxford University. He is
a Fellow of the Institute of Actuaries (FIA).
The appointment is subject to Bermuda Immigration and other regulatory
The ACE Group of Companies is a global leader in insurance and
reinsurance serving a diverse group of clients. Headed by ACE Limited
(NYSE:ACE), the ACE Group of Companies conducts its business on a
worldwide basis with operating subsidiaries in more than 50 countries.
Additional information can be found at: www.acelimited.com.