Ace Group announced yesterday that James Wixtead has been appointed president of Ace Tempest Re Group, the Ace Group’s global reinsurance business, replacing Jacques Bonneau.

Mr Wixstead is currently division president of Ace Tempest Re USA.

As was previously announced, Mr Bonneau has been named Ace Group executive vice-president, Global Underwriting.

Effective July 1, Mr Wixtead will be responsible for leading the company’s global reinsurance business operations, which provide a broad range of traditional and specialty reinsurance products to a diverse array of primary property and casualty insurance companies.

Ace Tempest Re Group has regional headquarters in Bermuda, London, Sao Paulo, Stamford, Toronto and Zurich and also conducts operations in China and Brazil through Lloyd’s. Mr Wixtead will report to Ace Group chairman and CEO Evan Greenberg.

“It is my pleasure to appoint Jim Wixtead to head our global reinsurance business,” said Mr Greenberg. “I’ve known and worked with Jim for over ten years, I have witnessed his underwriting discipline and I have watched him grow and develop into a great executive.

“With more than 25 years of reinsurance industry experience, Jim has done an outstanding job leading A’s North American reinsurance business and has earned this well-deserved promotion. I have every confidence in his abilities to sustain Ace Tempest Re’s record of excellence.”

The company also announced that Michael O’Donnell has been appointed division president, Ace Tempest Re USA, succeeding Mr Wixtead. Currently senior vice-president and responsible for Ace Tempest Re USA’s Workers Compensation and Alternative Risk business units as well as oversight of its claims operations, Mr O’Donnell will lead Ace’s reinsurance business in the United States. He will continue to report to Mr Wixtead.

“Mike has demonstrated both leadership excellence and broad industry expertise in his eight years with Ace and 15 years in the reinsurance business. He is a natural to now lead our US reinsurance operations,” said Mr Wixtead. “I look forward to continuing to work closely with Mike and the entire team to provide our clients with stable, secure and substantial capacity as well as creative alternative risk solutions.”