ACE Limited and XL Capital Ltd. have dedicated the walkway located between the two headquarters to founding director Robert Clements.

Two plaques at the southern end of the walkway that links Pitts Bay Road to Gorham Road were unveiled on Thursday.

One plaque recognises the contributions of Mr. Clements while the other reflects the history of the old Bermudiana Hotel site on which the ACE and XL buildings stand.

A founding director of ACE and XL and a pioneer of the international insurance industry in Bermuda, Mr. Clements' creative approach to the business of risk transfer led to the formation of both ACE and XL in the mid 1980's.

Brian O'Hara, president and CEO of XL said: “The Robert Clements walkway will serve as a lasting tribute to an exceptionally creative insurance leader.

“It was his perseverance and vision that led not only to the formation of ACE and XL but also helped turn Bermuda into one of the world's leading centres for commercial insurance and reinsurance.”

Brian Duperreault, chairman and CEO of ACE said: “We are delighted to be able to recognise the significant role that Robert Clements has played in the development of the international insurance industry in Bermuda.

“Mr. Clements was instrumental in promoting the Bermuda market as a solution to the insurance deficiency existing for many multinational companies in the mid 1980's, and it was his foresight that helped make Bermuda the premier insurance domicile that it is today.”

Above are ACE Limited Vice Chairman Donald Kramer, Premier Jennifer Smith, ACE Limited and XL Capital Ltd. founder Robert Clements, and XL Capital Ltd. President Brian O'Hara stand before the south entrance of the new Robert Clements Walkway between the ACE Building and XL House on Par-La-Ville Road.