ACE Ltd. yesterday announced a large number of moves within the corporation, with moves in its US and global financial solutions and financial guarantee business, following the appointment of a new top man at AGC Holdings Ltd.

Pierre Samson, president and chief executive officer of ACE Global Financial Solutions, has accepted the positions of chief actuary of AGC Holdings Ltd. and chief underwriting officer, AGC International Ltd.

AGC Holdings Ltd. is a wholly-owned subsidiary of ACE and will be the subject of an initial public offering (IPO) later this year, as previously announced by ACE which will retain approximately 25 percent to 35 percent ownership in AGC Holdings

Mr. Samson's appointment is still subject to approval from the Bermuda Government's Department of Labour and Immigration.

Mr. Samson will report directly to president and chief executive officer of AGC Holdings, Inc., Dominic Frederico.

Mr. Samson joined ACE nine years ago as vice president and actuary in the financial lines division of ACE Bermuda. In January 1998, he was promoted to the position of senior vice president, financial lines and in June 2000 was asked to head ACE Financial Solutions International (ACE FSI). In September 2003, he was promoted to president and chief executive officer, ACE Global Financial Solutions.

Simon Burton, currently executive vice president, ACE FSI, has been promoted to the position of president, ACE FSI.

Mr. Burton's appointment is effective immediately, subject to approval from the Bermuda Government's Department of Labour and Immigration.

Mr. Burton, who has been with ACE since 1996, will report to president and chief executive officer of ACE Bermuda, Andrew Kendrick.

Mr. Burton will have responsibility for all aspects of ACE's international financial solutions business. "Simon's in-depth knowledge of and his eight years' experience in the international portfolio of this line of business make him ideally suited for his new role," said Evan Greenberg, president and chief operating officer of ACE.

"I know he will lead his team in providing a wide variety of financial, finite risk and alternative risk transfer products to FSI's worldwide client base." Mr. Burton joined ACE in March 1996 as finite risk underwriter and actuary of ACE Bermuda's financial lines division. He was promoted to senior vice president, ACE FSI, in 2001 and to executive vice president of this unit in 2003.

Mr. Greenberg said in a release that ACE Financial Solutions US, the US book of the company's financial solutions operations which is headed by Robert Omahne, will now report to president and chief executive officer of ACE USA Susan Rivera.

"We have every confidence in the future of our financial solutions business and know that under Simon and Bob's able leadership, its continued growth and development are assured," said Mr. Greenberg.

The changes in ACE's financial solutions operations follow the company's announcement that Mr. Samson joined AGC Holdings Ltd,

AGC Holdings Ltd announced the appointments of Robert Mills as chief financial officer and James Michener as general counsel.

Mr. Mills joins AGC Holdings after 10 years at UBS where he served as chief financial officer for the Americas, regional operating officer for the Americas, and global head of fixed income business control. Before UBS he was with KPMG LLP for 23 years (a partner for 14) and was partner in charge of the investment banking and capital markets practice.

Mr. Michener joins AGC Holdings from Travelers Property Casualty Corp. He has held numerous positions at Travelers, where he began his career, most recently as the general counsel and secretary.

PartnerRe has announced three promotions in its Bermuda office.

Joe Barbosa, who joined PartnerRe in October 2001 as assistant treasurer has been promoted to group treasurer and is now responsible for building and managing treasury operations throughout the company.

Claire Goulet, who joined PartnerRe in August 1997 as assistant controller has now been appointed company controller. Ms Goulet is now responsible for the management of the company's accounting and reporting process.

Ryan Lipschutz joined PartnerRe in March 2003 as investment and treasury analyst and has now been appointed to the position of assistant treasurer. Mr. Lipschutz will be responsible for treasury operations and related transactions and reporting.