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ACE Names Russell Bundschuh President of International Life Insurance Business

^{Published on 2010-11-01 23:41:30 - Market Wire}
 

ZURICH--([ BUSINESS WIRE ])--ACE Limited (NYSE:ACE) announced today that it has appointed Russell Bundschuh President of its international life insurance business. In this role, Mr. Bundschuh will have executive responsibility for ACEa™s global life insurance and life reinsurance operations. He joins ACE from New York Life where he had been Executive Vice President and CEO of the Asia Sub-Region for the companya™s New York Life International business since 2009. Mr. Bundschuh will be based in New York and will report to Ed Clancy, Chairman of the companya™s Life division and Executive Vice President, Global Accident & Health and Life.

"We are pleased to welcome an executive with the proven business leadership background that Russell brings to ACE Life"

aWe are pleased to welcome an executive with the proven business leadership background that Russell brings to ACE Life,a noted Mr. Clancy. aWith his experience leading New York Life Internationala™s Asia Sub-Region and his previous responsibility for operations across New York Lifea™s businesses in Asia and Latin America, Russell is well suited to meet the challenges of developing and managing our life business in these important, fast growing markets,a he added.

Prior to his most recent assignment, Mr. Bundschuh was Chief Operating Officer for New York Life International, responsible for several functions across nine countries in Asia and Latin America. He joined New York Life in 2004 as First Vice President of Corporate Development. Previously, Mr. Bundschuh had a 10-year career with McKinsey & Company, where he was a leader of the firma™s Services Strategy and Operations practice. Prior to McKinsey, he spent four years with IBMa™s Marketing & Sales division in New York, where he was lead member for large-systems technical sales for a major insurance account.

Mr. Bundschuh holds undergraduate degrees in Geophysical Engineering and Electrical Engineering from the Colorado School of Mines, and earned an MBA in Finance from the Wharton School of the University of Pennsylvania. He also holds the FLMI professional designation.

Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: [ www.acegroup.com ].