ACE Commercial Risk Services, the small business division of the ACE Group, today announced the appointment of Tom McGrath as Senior Vice President, Head of Programs. In this role, Mr. McGrath will oversee all underwriting, marketing, and operations for the unit’s diverse program insurance business. Based in Philadelphia, Mr. McGrath will manage a team of underwriters with responsibility for administering ACE’s programs business around the U.S. ACE’s programs business features admitted and non-admitted insurance solutions for national, regional or local programs with a wide set of specialty coverages available on a mono-line or package basis for complex risks.
Also based in Philadelphia and reporting to Mr. McGrath is Bill Franchi, who has been appointed Senior Vice President, Programs. In this role, Mr. Franchi will assume responsibility for profitably managing a book of programs within ACE Commercial Risk Services.
Bill Sharp has been appointed Chief Operating Officer, Programs, for U.S. and Canada. In this new role, Mr. Sharp will be responsible for ensuring that the controls, processes and procedures that have made ACE’s programs business a success continue in place, while also bringing resources to other ACE units in the U.S. and Canada that utilize program distribution platforms. Both Mr. McGrath and Mr. Sharp will report to David Lupica, Division President, ACE Commercial Risk Services.
“ACE Commercial Risk Services has rapidly become a market of choice in the program business space. With a unique combination of specialty product expertise and the established financial strength of ACE, the group is a compelling partner for placement of complex program business,” said Mr. Lupica. “Bill has been instrumental in establishing and building this strong offering. His leadership will serve ACE well in expanding the business in Canada. Adding Tom and Bill, both of whom are experienced industry leaders, represents a significant investment in this business and will be a tremendous asset in driving the next phase of our growth.”
With more than 26 years of experience in insurance and reinsurance, Mr. McGrath joins ACE from Munich Re America, where he served most recently as Head of Primary Insurance Programs since 2008. Prior to this role, he oversaw the company’s public and non-profit programs business for 10 years. He holds the Associate in Reinsurance (ARe) professional designation and a Bachelor of Arts degree in Finance from The Pennsylvania State University.
Mr. Franchi joins ACE from Munich Re America, where he served as Senior Vice President, Primary Insurance Program Manager since 2005. He brings to ACE nearly 20 years of experience in the insurance and reinsurance industry. He holds the Chartered Property Casualty Underwriter (CPCU) professional designation, and received a Bachelor of Science degree in Business Management from East Stroudsburg University, located in East Stroudsburg, PA.
Mr. Sharp has been with ACE and its predecessor companies for more than 32 years. He has led the ACE Commercial Risk Services Programs group since 2010. He holds both a Bachelor of Science degree in Accounting, and an MBA in Finance degree from Drexel University, located in Philadelphia, PA.
ACE Commercial Risk Services is an operation within the ACE Group that is dedicated to providing specialty insurance products that offer solutions for small business insurance needs in North America. ACE Commercial Risk Services offers its products through retail agents and brokers, wholesale brokers and wholesale producers, program agents and other alternative distribution models. Additional information can be found at www.acecrs.com.
The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.
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Carla Ferrara, 215-640-4744