ACE Names Juan Alberto Vélez Arredondo Regional President, Latin America, ACE Life

Business Wire, Inc.

NEW YORK--(BUSINESS WIRE)-- The ACE Group today announced that it has appointed Juan Alberto Vélez Arredondo Regional President, Latin America, ACE Life. In this role, Mr. Vélez has responsibility for ACE’s life insurance operations in nine countries and will work closely with the company’s other personal insurance businesses in the region to advance ACE’s sales and service efforts directed at this segment. He will be based in Mexico City and will report to Russell Bundschuh, President, ACE Life.

Juan Alberto Velez Arredondo, Regional President, Latin America, ACE Life (Photo: Business Wire)

With more than 30 years of experience in the insurance industry, Mr. Vélez was most recently Chief Executive Officer for Seguros Multiva, Grupo Financiero Multiva (a member company of Grupo Empresarial Angeles) in Mexico City. Prior to that, he was CEO and Executive Vice President for HSBC Seguros, based in Panama. Previously, Mr. Vélez also served as Deputy CEO for HSBC Seguros and CEO of HSBC Afore in Mexico, and as Chief Risk Officer for HSBC Seguros Latin America.

“We are pleased to have such a talented insurance executive as Juan Alberto join us at ACE Life,” said Mr. Bundschuh. “His leadership experience and record of accomplishment in insurance distribution channels throughout Latin America will serve him well as we seek to further expand our life insurance business in this important and fast-growing region.”

Mr. Vélez holds an Actuary degree from Universidad Nacional Autonoma de Mexico. He also holds master’s degrees in Business Administration /D-1 Program from Instituto Panamericano de Alta Direccion de Empresas (IPADE), in Business Economics from the Universidad Anahuac and in Computer Sciences from Fundacion Arturo Rosenblueth.

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 and 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 (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.

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