Allied World Assurance Company, Ltd. (AWAC) has announced the appointment of Tracey Gibbons as assistant vice president, casualty treaty reinsurance.

Before joining AWAC, Mrs. Gibbons was lead underwriter and senior vice president at Overseas Partners Re. She has more than 20 years experience in a variety of management and senior roles within the insurance and reinsurance industry.

She is a graduate of the University of Hull, UK, a Fellow of The Chartered Insurance Institute and an Associate in Risk Management.

Employees of Conyers Dill & Pearman (CD&P) have made the third pay out from their Benevolent Scheme to Hands of Love Ministry, Meals on Wheels, Bermuda SPCA, Bermuda School of Music and Masterworks.

Previous recipients have included the Bermuda Diabetes Association and the Sunshine League. More recently, the Benevolent Committee kept the funds "closer to home" and assisted those that had a connection with the firm. They provided funds to the Battersbee/Lymbery Scholarship Fund and to the Bermuda Hospitals Auxiliary Board.

CD&P's Benevolent Scheme is pooled from donations from staff which are matched by the firm and placed in a benevolent fund. A committee then decides who should be the recipient of the funds.

ACE USA, the US-based retail operations of the ACE Group of Companies has announced the formation of ACE Captive Solutions.

Robert Davis has been appointed senior vice president to head this new unit. This specialised facility will act as a centre of excellence for all aspects of ACE captive programmes and related products.

As a centralised unit supporting all ACE businesses, this unit will harness ACE internal resources to bring solutions to the captive community.

Based in New York City, Mr. Davis will report to William Curcio, president, ACE Risk Management.

Assurex Global, the world's largest privately held risk management and commercial insurance brokerage group, has announced the formation of Assurex Global Reinsurance, Ltd., a Bermuda captive insurance company to provide critically needed risk management solutions to corporate customers around the world.

The new entity was announced by Assurex Global Board chairman Greg Collins, president of Seattle-based Parker, Smith & Feek, an Assurex Global Partner.

A captive is an insurer formed by a corporation to insure the risks of the owner and/or closely related third parties. Captives provide alternative funding mechanisms to commercial insurance markets.

"The formation of Assurex Global Re is another example of the entrepreneurial, client-focused nature of our local independent broker Partners around the globe," said Mr. Collins.