The ACE Insurance franchise in Asia Pacific comprises an extensive network of operations serving Australia, Hong Kong, Indonesia, Korea, Macau, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam. The franchise offers a diverse range of products, including its core Property & Casualty and Accident & Health lines, as well as its growing Small to Medium Enterprise and Personal Lines businesses. ACE Insurance is part of the ACE Group, one of the world's largest multiline property and casualty insurers. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 53 countries.
As demonstrated by recent loss events including, "DEEPWATER HORIZON", "COSTA CONCORDIA" and New Zealand's worst ever maritime environmental disaster, the scale of marine risks has continued to grow. This paper looks at how to structure a multinational insurance programme for marine and cargo risks.