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Rees Fletcher will now join an elite band of seven Senior Vice Presidents at ACE Bermuda.

The section he will head up, Excess Liability, accounts for about 25 percent of ACE Bermuda's business.

"I am looking forward to the challenges and responsibilities of managing and improving ACE's position as a leader in excess liability insurance,'' said the 39-year-old Mr. Fletcher.

ACE Bermuda strived over the past decade to train locals in investment and as a result says it has an excellent record for employing and training Bermudians -- currently 75 percent of the work force are from the Island.

But Mr. Fletcher, who has been with the company for 11 years is said to be the first to have been promoted this high in the company.

"The company has changed a great deal since I joined way back then.

"For a start, back then there were 20 something employees. Now there are thousands all over the world, with hundreds in Bermuda.

"Back then we were a small company focused on the customer. Now we have become a big company focussed on the company.'' Mr. Fletcher was full of praise for his company which he has seen through extraordinary growth.

"When I started we were very much the only providers of insurance at that level, we insured major industry that could not get insurance before.

"At the time it was the only game in town, now there is a lot more capacity on the market, as opposed to us and XL.'' ACE job for Bermuda's Rees He added: "ACE is like a family to me. Now it is like one large extended family. There is always the opportunity to take up advantages if you want to.

Employees are well taken care of in terms of job satisfaction -- for example we have day care facilities on site which no other company in Bermuda has -- it shows how much the company cares about its employees.'' President and Chief Executive Officer of ACE Bermuda, Gary Schmalzriedt, said that Mr. Fletcher's role as head of Excess Liability will be pivotal.

"The restructuring at ACE Bermuda was undertaken with our customers in mind.

Rees will play a key role in identifying new opportunities for the Casualty Division presented by our current and potential client base. Rees has proven that he has the expertise and the ability to handle this new assignment.'' "I am delighted to announce Rees' promotion in the Casualty division,'' said Mark Herman, the manager of the Casualty Division to whom Mr. Fletcher will report.

"His 11 years experience in excess liability underwriting, as well as the longstanding relationships he has developed with our customers and producers, will help this division move from strength to strength.

Mr. Fletcher joined ACE in 1989, when he was 28. He had spend six years prior to this with Bermuda Fire and Marine Insurance Company, where he held the position of controller, commercial lines with underwriting responsibilities for commercial property and casualty accounts.

Mr. Fletcher is a graduate of Mount Allison University, New Brunswick and is an associated member of the Chartered Insurance Institute. Last year he became the president of the Bermuda Insurance Institute.

Moving up: Bermudian Tees Fletcher has been promoted to senior vice president, Excess Liability.

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