The ACE Group, a leading multiline property and casualty
) is forming a new specialty casualty division within its excess
and surplus lines insurance company, ACE Westchester. The
formation of the new division is aimed at expanding the Specialty
Casualty business of ACE Limited in the U.S. The division
will cater to industries like construction, auto and railroad
transportation, energy and public entities.
The new division will combine the retail Custom Casualty unit of
ACE USA, which includes specialty casualty, general liability and
pollution, and public entity product lines, with the primary
casualty, excess casualty and transportation groups of ACE
The new Specialty Casualty division of ACE Westchester will
provide a number of primary casualty, excess liability and
automobile liability products. These include construction,
general liability (stand-alone), specialty general liability,
energy liability, public entity, railroad liability,
transportation auto including Hazmat, pollution and primary
casualty (ACE PaC), and custom products for complex dealings The
new division will thus provide an extensive range of products to
its wholesale and retail distribution customers.
ACE will continue to provide mono-line excess casualty
products to wholesale and retail distribution channels through
ACE Westchester and ACE USA's underwriting units.
ACE Limited has been working toward expanding its product
offerings through innovation in commercial specialty casualty
insurance and utilization of its expertise. The formation of the
new specialty casualty division will enhance its product
portfolio, thereby making way for customer retention and new
In the first quarter of 2013, total revenue of ACE Limited
increased approximately 3% year over year to $4.3 billion. We
expect that the new division along with its extensive customer
specific product offerings will help ACE Limited gain a huge
clientele and thereby bolster revenues. The long-term sales
growth rate for ACE Limited is projected at 7.51%.
Earlier, the ACE Group, launched an agriculture property and
casualty insurance business- ACE Agribusiness in Apr 2013. ACE
Agribusiness will provide the agricultural market with products
and services like farm and ranch and specialty property and
casualty commercial insurance.
ACE Limited currently carries a Zacks Rank #3 (Hold). Among
American Safety Insurance Holdings Ltd
Catlin Group Ltd
Hilltop Holdings Inc.
) carry a favorable Zacks Rank #1 (Strong Buy) and are worth
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