ACE Insurance Appoints New President Director for Asuransi Jaya Proteksi

Mon Apr 29, 2013 2:15am EDT

* Reuters is not responsible for the content in this press release.

ACE Insurance Appoints New President Director for Asuransi Jaya Proteksi

ACE Insurance, part of the ACE Group of insurance and reinsurance companies, today announced the appointment* of Tim Shields as the new President Director for the recently acquired local Indonesian company – PT Asuransi Jaya Proteksi, (Japro). In time, Japro will merge* with ACE’s existing local operations, PT ACE INA Insurance, (ACE INA) and this will significantly enhance the size and scale of ACE’s general insurance operations in Indonesia.

Tim Shields (Photo: Business Wire)

Tim Shields (Photo: Business Wire)

Japro’s current President Director Sujaya Dinata Pangestu will become Vice President Director while, after the merger, Peter van Ratingen, the incumbent President Director of ACE INA will assume the role of Regional Bancassurance Head.

Mr. Shields has over 20 years of experience in the insurance industry that spans roles in the UK, Middle East and Asia. Prior to joining ACE in 2012, he was the Managing Director for United Arab Emirates for an international insurance firm, after a four-year posting as Vice Chairman and Managing Director of Egypt.

His first Asian stint was in 2000 as the General Manager for the life and general insurance operations in Singapore. Mr. Shields has broad experience in general management, sales, marketing and distribution.

On this new appointment, Damien Sullivan, Regional President ACE Asia Pacific said, “Indonesia is a strategic growth country for ACE. Our acquisition of Asuransi Jaya Proteksi provides us the ideal platform to accelerate our expansion plans in this exciting country, particularly in the areas of personal lines and small commercial business insurance. Tim has the appropriate business acumen and seasoned leadership skills to ensure ACE realizes its strategic plans in Southeast Asia’s largest economy.”

ABOUT ACE

The ACE Insurance franchise in Asia Pacific comprises an extensive network of operations serving Australia, Hong Kong, Indonesia, Korea, Macau, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam. The franchise offers a diverse range of products, including its core Property & Casualty and Accident & Health lines, as well as its growing Small to Medium Enterprise and Personal Lines businesses. ACE Insurance is part of the ACE Group, 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.

Visit www.acegroup.com for more details.

ACE Insurance, ACE Group of Companies and ACE Limited are registered trademarks of ACE Limited.

* subject to regulatory approval

ACE Insurance
Michele Anne Minjoot, +65 6398-8708
michele.minjoot@acegroup.com

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