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ACE launches Global Property Engineering Unit


April 9, 2014   by Canadian Underwriter


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ACE Group has created a new Global Property Engineering Unit, providing engineering risk management services to clients worldwide.

Raimund Navakas has been appointed senior vice president of Global Property Engineering to lead the new unit, the firm announced Tuesday.

Formerly vice president and regional manager of Risk Management Engineering Services for the company’s Asia Pacific region, Navakas will lead the integration of ACE’s regional engineering operations around the world, using data analytics to help ensure the best solution for risk managers, regardless of location.

Navakas will relocate from Australia to New York City and will report jointly to Paul O’Neill, chief underwriting officer of North America Property & Specialty Lines, and Jarrod Hill, executive vice president of the Property division for ACE Overseas General.

“In today’s global market, risk managers need access to seamless engineering on a worldwide basis. The fundamentals of property insurance are the same, regardless of where that property is located,” O’Neill said in a press release Tuesday.

“Similarly, we recognize the need for a uniform quality of our consulting service offerings. Under Rai’s leadership, ACE will be able to offer seamless property engineering services to our insured clients for their operations around the world, providing a common platform for the efficient management and delivery of service results.”

Navakas has more than 30 years of engineering and risk engineering experience. He began his career with the Royal Australian Navy, serving for 13 years before entering the insurance sector as a risk engineer.

In his most recent role at ACE, he served as head of risk management engineering services for the company’s casualty, property, marine, energy and technology lines in Asia Pacific. D

Navakas has specialized in working with major global clients in a number of industry sectors, including but not limited to semiconductor fabrications, telecommunications, mining and food and beverage manufacturing.

He is presently a serving member of the Royal Australian Navy Reserve, in the rank of Commander. Mr. Navakas holds a Bachelor of Engineering (Electrical) and a Master of Commerce, and is a licensed electrical contractor.


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