A US division of Bermuda-based Ace Ltd. yesterday announced the creation of the Ace USA Mergers & Acquisitions Industry Practice, which will concentrate on both private equity groups and strategic mergers & acquisitions.

Seth Gillston has been named to lead this new practice and a team of product and service experts. Mr. Gillston adds this responsibility to his current role as senior vice-president of Ace Financial Solutions and will continue to report to Matt Merna, executive vice-president, Ace Financial Solutions.

This specialised practice will enhance Ace’s focus on providing comprehensive risk management solutions and insurance coverage to buyers and sellers of organisations as they navigate the merger and acquisition transaction process, a statement on Business Wire said yesterday.

“The mergers and acquisitions industry continues to evolve, resulting in the need for organisations to streamline their insurance buying during the portfolio transfer process,” Mr. Maleno said. “Ace has a wealth of experience in providing underwriting and risk management services to mergers and acquisitions transactions.”