ACE Tempest Re launches Canadian operations

The ACE Tempest Re Group has expanded into Canadian markets with the establishment of ACE Tempest Re Canada.
The Montreal-based, wholly owned managing underwriter will write all lines of property and casualty reinsurance for the Canadian market.
Constantin Petalas has been appointed president of the operation and is charged with the responsibility of leading ACE Tempest Re Canada’s development and growth, says a company release.
Petalas brings more than 25 years of reinsurance market experience, having most recently served as CEO and chief underwriting officer of Axa Re, Canada.
“The establishment of ACE Tempest Re Canada recognizes ACE’s goal to better serve the Canadian insurance market and offer Canadian clients the products and services they require to address their business needs,” Jacques Bonneau, president and CEO of ACE Tempest Re Group, said in a statement.
The new division of the company is authorized to write reinsurance on behalf of ACE’s licensed and admitted Canadian insurance companies.
John A. Rausch, formerly senior vice president property at ACE Tempest Re USA has provided interim leadership for ACE Tempest Re Canada’s establishment since October 2006 and “will continue to support Mr. Petalas for the short-term as he transitions into his new role.”
The ACE Tempest Re Group is headquartered in Bermuda and oversees the reinsurance operations within the ACE Group of Companies.