HONG KONG, May 26, 2015 /PRNewswire/ -- ACE Group announced today the establishment of a new Commercial Lines team focused on providing innovative insurance products for the small to medium-sized enterprise (SME) market in Hong Kong.
The Commercial Lines team is led by Joseph Lee, Senior Business Development Manager. As an industry veteran with about 40 years of experience in business development, Mr. Lee brings with him in-depth market knowledge and a wide network of local relationships.
With an aim to provide market-leading SME insurance coverage, ACE's key product offerings include:
The establishment of the Commercial Lines team in Hong Kong underscores ACE's commitment to build and sustain engagement with mid-tier agents and brokers as strategic growth partners.
Mr. Patrick Wong, General Manager of Property & Casualty for ACE in Hong Kong, said, "We are fortunate to have an experienced professional like Joseph Lee head up the team. The breadth of his expertise will be invaluable in accelerating ACE's plans to make available its diverse product suite to a broader range of customers through agents and brokers who specialise in the SME segment. By partnering with ACE, agents and brokers will benefit from working with an experienced team with multi-line underwriting authority, and the ability to access our market leading specialist product underwriters on larger and more complex accounts."
Mr. Doug White, Country President of ACE in Hong Kong, Taiwan and Macau, added, "We are a customer-driven organisation with a mission to provide innovative and relevant solutions and market leading claims services. We are also defined by our can-do attitude that is central to everything we do. Whether our policyholders are multinational corporations or SMEs or individual consumers, agents and brokers can rest assured knowing that we are there when they need us the most -- that's the value of being ACE insured."
About ACE in Hong Kong
ACE Group is one of the world's largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. ACE's core operating insurance companies are rated AA for financial strength by Standard & Poor's and A++ by A.M. Best.
With both general and life insurance operations, ACE has been present in Hong Kong for more than 90 years via acquisitions by its predecessor companies. Its general insurance operation in Hong Kong (ACE Insurance Limited) is a niche and specialist general insurer offering products such as Property, Casualty, Marine, as well as Accident & Health programs for large corporates, midsized commercial and small business customers. For ACE in Hong Kong, the AA- long term insurer financial strength and counterparty credit ratings by Standard & Poor's are indicative of the company's strong capitalization. Over the years, the company has built strong client relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength.
More information can be found at www.acegroup.com/hk.
