PROFILE

- Established in 1952- Pioneer of the GCC Insurance Industry - Grown to be the largest indigenous insurance & reinsurance broking

organization in the region. - ACE is unique in its set up. - Established a tie-up with a major international player in 1973- Formed a partnership with Jardine Lloyd Thompson (6th Largest Broker

in the World) in 2008 in Saudi Arabia.- Total of 236 experienced staff

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ACE Group

- Access to ACE 20 offices in 8 countries.- Access to international partners network of over 126 offices in 33

countries.- Works with clients with the aim of exceeding expectations- Continuous commitment to excellence- Sustainable competitive advantage amongst its peers- Builds client’s relationships through careful listening and proactive

solution handling- Confidentiality is paramount to providing a professional service- Unmatched flexibility and managed care solutions that help ease

administrative burdens and promote optimal outcomes and client’s satisfaction.

3

ACE Group

-Diversified experience/client base.-Broker of record for major clients -Risk Management Consultant-Experience in handling :

(a) Complex Insurance Programs(b) Mega Projects(c) Lenders Negotiations(d) Unique Covers(e) General Business Requirements

-Long experience in placing risks in the local market- Established Track Record of placing risks in the international market

4

ACE Experience

- Resources and expertise from the largest insurance broking firm in the Middle East.

- Over 50 years experience in handling some of the largest projects and insurance programs in the region.

- Dedicated experienced teams provide comprehensive services at every stage for the duration of the contract.

- The highest level of integrity and honesty at all levels.- An ongoing commitment to truth and fair dealing.- Hands on management at all levels.

5

ACE Guarantee

- Commitment to quality and competence.- Minimum bureaucracy - Fast decisions and implementation.- Looking after the best interest of our clients is basic to all of our

business relationships. We promise only what we can deliver and we strive never to mislead our clients.

- We conduct our business with due skill, care and diligence. - We always seek to comply with both the letter and the spirit of

relevant laws, rules, regulations, codes and standards of good market practice.

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ACE Guarantee

- Assets insured : We insure assets for our clients in excess of USD 100 Billion

- Projects insured : During the past two years, we insured projects for our clients in excess of USD 30 Billion

- Ranking : We are the largest Broking Firm in Saudi Arabia.

- Clients retention : We have the highest client’s retention ratio amongst other brokers.

- 2014 Sales : Total sales over USD 440 Million (approx)

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Business Profile

ACE has strong presence in 8 countries with offices located in

ACE regional network

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Saudi Arabia

6offices

U.A.E.2

offices

Lebanon1

office

Bahrain 1

offices

Kuwait 2

offices

Oman 1

office

Qatar1

office

Greece1

office

CorrespondentsJLT Offices

JLT is the 6th largest broker in the world 126 offices in 33 countries Employ over 5500 worldwide Largest European Publicly listed broker

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ACE’s Joint Venture Partner JLT Group

ACE is a business partner with the Gallagher Optimus Network that has operations in 15 countries and does business in more than 100 countries around the world.

SMI offices Strategic Alliances Risk Management Partners10

Arthur J. Gallagher: ACE Int’l Network Partner

• Global presence 100+ countries • Number of offices worldwide: 300+ • Number of insurance professionals: 7000• Annual premium managed US$14 billion

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ACE Network Membership:BrokersLink Network

Some of ACE Clients

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Some JLT Clients

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Insurance and Reinsurance Broking Insurance Consultancy Negotiations with Project Lenders Risk Management Claims Settling Agents Surveyors

ACE SERVICES

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Claims

In every office we have dedicated claims team that are split into three main groups marine & non motor and motor classes. In the larger offices we have specialized expertise that is called upon by the other offices whenever there is a need.

We are involved with:- Notification & Assessment- Negotiation & Settlement- Maintenance of Record for the claims

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ACE Recent Major Projects Handled

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Project Size Country

Haramain High Speed Rail Project By Saudi Spanish Co. USD 7.74 Billion Saudi Arabia

MARAFIQ IWPP Project * Suez Energy Power Plant Project, Jubail USD 2.7 Billion Saudi Arabia

Rabigh I.P.P. NTP * USD 1.756 Billion Saudi Arabia

AL- Mashaaer Al Muqadassa Metro Rail Project – by China Railway Constructions USD 1.706 Billion Saudi Arabia

Kharafi National USD 1.5 Billion Egypt

Nesma – Makkah USD 1.3645 Billion Saudi Arabia

Al Ghanim * Az Zour Power plant USD 835 Million Kuwait

North/South Railway Project – CT300 Al Rashid Trading Co. USD 771 Million Saudi Arabia

Azzour and Sabhiya Power Plant USD 700 Million Kuwait

Saudi Iron & Steel Co. (HADEED) * Expansion project USD 650 Million Saudi Arabia

Al Ghanim Azzour Power Plant USD 600 Million Kuwait

EICO – Jubail. Fiber Glass production plant USD 549 Million Saudi Arabia

JLT China Sinoma - Yanbu USD 472 Million Saudi Arabia

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ACE Recent Major Projects Handled

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Project Size Country

Al Ghanim Azzour Desalination Plant USD 400 Million Kuwait

Gulf Dredging & General Contracting Co. - Boubyan USD 395 Million Kuwait

EUHC (Kharafi National) * AUH waste water treatment plant USD 393 Million Kuwait

Saudi Aramco Shell Refinery Co. (SASREF) * EPC of ULSD USD 350 Million Saudi Arabia

Sulaibiya Waste Water Treatment Plant* First B.O.T. in Kuwait USD 330 Million Kuwait

Saudi Aramco Shell Refinery Co. (SASREF) * Construction of field auxiliary room and electricals USD 280 Million Saudi Arabia

Northern Region Cement Company (NESMA and Partner Contracting Co.) USD 263 Million Saudi Arabia

Najran Cement Plant (NESMA and Partner Contracting Co.) USD 250 Million Saudi Arabia

Najran Cement Plant – Extension project (NESMA and Partner Contracting Co.) USD 155 Million Saudi Arabia

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Some of the Recent Major Claims handled

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1 Damages to Turbine Vanes/Blades 80,000,000.00

2 Fire Damages to Generator & Transformer 18,666,666.66

3 Contamination of 17 Farms 12,500,000.00

4 Damages to GSU Transformer 10,666,666.66

5 Fire in Water Proofing Plant (Property Policy) 10,133,333.33

6 Tripping/Machinery Break-down of Gas Turbine 6,204,780.00

7 Fire in Shunt Reactor of Sub-Station 6,133,333.33

8 Damages/Machinery Break-down of Gas Turbine 5,908,329.40

9 Fire in Power Plant 4,279,553.06

10 Fire in Power Plant 4,266,666.66

Sl. # Nature of Loss Amount of Claim (USD)

1- All ACE Branches are well equipped to service clients.

2- Account managers and supporting staff will be dedicated to serve the needs and requirements of the client. The same level of service will be requested from the selected insurer

3- Regular meetings with the selected insurer and the Client to ensure smooth running of the insurance program.

Our Added Value

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1. Review existing insurance program, collect information to assess exposures subsequently a gap analysis will be drawn and on this basis we would recommend changes if any to the current program.

2. Design of an Insurance Program:(a) Design and develop tailor-made policies that comply fully with

your insurance requirements.(b) Prepare the insurance specifications (i.e. insurance slips) for

each type/class of insurance and widen the cover as far as possible in consultation with you.

(c) Provide programs and options where possible that will have cost savings.

3. Marketing and Securing Insurance Coverage         

(d) Prepare bid tender documents (e) Obtain quotations (tender) from the local and international

insurance markets.  

Proposed Scope of Work

(c) Review, analyze and evaluate insurance proposals/ quotations.(d) Prepare recommendations as to the most advantageous and

appropriate offer.

4. Administration of Insurance PoliciesACE shall inform and provide written materials and

other necessary documents pertaining to the scope and limits of the insurance policies that may be required by you.

(a) Review and recommend on all matters concerning:

(i) premium payment to insurers,(ii) notice to personnel as to amounts and payment dates

of premiums,(iii) notice of changes in premium or terms and conditions,

and(iv) all communications with insurers and other concerned

parties.

Proposed Scope of Work – Cont’d

(b) Review and checking of: (i) riders to policies, (ii) exceptions to policies, and (iii) all other conditions or amendments. This will include explanations and recommendations.

(c) Take appropriate steps to ensure that insurance policies are renewed on time.

(d) Assist in the preparation of documentation in support of losses, claims processing, follow-up and expedition until final claims settlement is achieved.

(e) Assist in the interpretation and enforcing the terms and conditions of the insurance policies.

Proposed Scope of Work – Cont’d

(f) Assist on:

(i) any specific question regarding insurance matters, (ii) any dispute that may occur between you and the

insurance company including assistance in connection with any litigation or other proceedings for settlement of disputes.

4. Client-Insurer relationship management:a) Work with the client and the insurance company to ensure

continuity of providing coverage in new territories. b) Manage the relationship between the insurance company

and the client.

Proposed Scope of Work – Cont’d

in the UNITED ARAB EMIRATES

• 16 Experienced Staff

• 2 offices – Dubai & Abu Dhabi

• Access to Group resources comprising of 236 staff

• Access to International network & expertise

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Manpower

Location Map – ACE Dubai at the U-Bora Tower

5~7 minute drivefrom Dubai Mall2~3 minute drive to

Sh. Zayed Road

Ace Dubai,Office 1001, 10th Floor

Location Map – ACE Abu Dhabiat Al Salam Street

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Senior ExecutivesNagib M. Bahous – Shareholder’s Advisor - 32years experienceMIG Holding S.P.C.Nagib has 32 years of insurance experience, about 29 years of which were with the ACE Group. He started with the ACE Group’s subsidiary, Reinsurance & Insurance Management Services in Athens in January 1981. In November 1986, Nagib relocated to Riyadh to take up several managerial positions the last of which was Deputy General Manager of the ACE Group’s in-house Underwriting Companies. Nagib transferred to the Agency & Broking Division in June 1991 as Regional Vice President, Eastern Province. He remained in this position until the end of December 1997, when he left to join as General Manager of Al Khazna Insurance Company in Abu Dhabi. Nagib rejoined the ACE Group as Group Vice President – Agency & Broking, Saudi Arabia, in August 1999 and remained in this position until January 2009 when he was promoted to President & Chief Executive Officer of the ACE Group.

Nagib is a Fellow of the Chartered Insurance Institute (FCII), London; a Chartered Insurance practitioner of the CII, and a Chartered Property & Casualty Underwriter (CPCU), American Insurance Institute, USA

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Senior ExecutivesYolla El Khoury – CEO - 22years experienceACE Holding WLL

Yolla holds a BSc with honors from Notre Dame University, a Fellow of the chartered insurance institute (FCII) and a chartered insurance practitioner of the CII. Yolla joined ACE in 2010 as Group Vice President. Since joining date Yolla has been handling the Reinsurance placements of all ACE major projects in regional and international markets.

Yolla started her career as a broker in Care Middle east Lebanon and moved to train and work with Nicholson Leslie in London as a reinsurance broker handling major business from the middle east; she then moved to work with Cumberland Insurance and Reinsurance Company as the Reinsurance Manager and later assumed the position of Deputy General Manager in charge of the day to day operations of the company. Yolla joined ACE from Bahrain Institute Of Banking and Finance where for the past few years she has been a lecturer of insurance related courses

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Senior Executives

Ashwini Amit – Vice President - Claims And Risk Management, ACE Consultants KSA - 18 years experience

Ashwini is a Mechanical Engineer with a Post Graduate Diploma in Business Management and holds a Fellowship of the Insurance Institute in the fire branch. He has 17 years of professional experience in the insurance industry with emphasis on risk inspection, EML/PML assessment and other risk management tasks such as safety audits and fire investigations of power, chemical plants etc. Ashwini is well versed with CAR, EAR, machinery loss of profit, advance loss of profit, machinery breakdown and boiler explosions etc. for both insurance management and claims. Ashwini joined ACE in 2000 working with the Special Projects Department. His experience includes his association with the Risk Management department at the Royal Commission for Jubail & Yanbu.

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Senior ExecutivesAli Mustafa Hajj Hassan – Assistant Vice President – UAE, ACE Dubai - 12years experience

Ali holds a Master’s Degree for Business Administration. 

Ali has a Certificate of Insurance (Cert. CII) from the Chartered Insurance Institute in London and holds other professional qualifications. Ali has over 12 years of experience in handling technical underwriting in the Insurance field.

Ali started his insurance career in 2004 with the Abu Dhabi National Insurance Company and then joined Qatar Insurance Company International as Assistance Vice President in Underwriting and Claims. In 2010, he joined RSA as Underwriting & Trading Manager for almost 5 years.

Ali is currently the Assistance Vice President for ACE Dubai and is now overseeing the UAE Region.

Senior Executives

Carole Haddad – Unit Head Broking – 9 years of experience 

Carole is handling the Underwriting in ACE UAE. 

Carole holds a Bachelor of Science (B.Sc.), Insurance Sciences. Awarded by the Higher Institute of Insurance Sciences – St Joseph University in Beirut, Lebanon. 

Carole started her insurance career in 2005 with the AMANA Insurance Company in Lebanon and then joined Alpha Lloyds Insurance Brokers as Assistant Technical Manager. In May 2013, she joined ACE Dubai as Unit Head Broking. And at present, Carole holds the position of Operations Manager – UAE.

 

Elias El Khoury – Team Leader – Business Development, ACE Dubai – 12 years experience

Elias holds a BA in Marketing and Management started his insurance career in 2004 with Bankers Assurance - Nasco Karaoglan Group in Lebanon as Accounts Manager. After an interesting path with Bankers, Elias joined Saudi Arabian Insurance Company SAL as Branch Manager. Elias moved to ACE Dubai as Team Leader for Business Development where he is handling some of the major accounts in the Emirate.

Senior Executives

Senior Executives

Diunugalge Sushara – Unit Head - Claims - 7 years experience 

Sushara holds B.Sc. (Special) degree in Insurance and Valuation. Sushara is a Chartered Insurer of the CII, ACII, FIII and hold other professional qualifications. Sushara has over 7 years of experience in handling insurance claims and underwriting in the Insurance field; he is currently reading to M.Sc. Insurance and Risk Management. After having worked for Janashakthi Insurance PLC, Sri Lanka, Sushara joined ACE in 2013 as Claims Administrator and year 2015 he was promoted to Unit Head Claims. Sushara’s main role with UAE is to handle all claims, advice and assistance in all related areas.

Omar Farsoun - Assistant Vice President, Business Development – Abu Dhabi 9 years experience

Omar holds a Bachelor of Science degree in Computer Science at the American University in Washington, D.C. and Master of Science degree in Computer Science at the University of Westminster in London. He speaks English, Arabic and Greek. Omar worked with Fenchurch Faris Ltd. in Greece where as a broker in the Engineering Department and assistant broker in the Professional Indemnity Department.

He joined Ace in 2012 as Assistant Vice President for ACE office in Abu Dhabi.

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Senior Executives

Riyadh:ACE Insurance & Reinsurance Brokers Ltd.ACE Insurance Consultants Ltd.P.O. Box # 667,Riyadh # 11421.Saudi Arabia+96614405499

Khobar:▪ ACE Insurance & Reinsurance Brokers Ltd.P.O. Box – 358Al Khobar – 31952Saudi Arabia+96638821715

▪ ACE Insurance Consultants Ltd.ACE BuildingP.O. Box 4051, Khobar 31952Saudi Arabia+96638820365

Jeddah:ACE Insurance & Reinsurance Brokers Ltd.P.O. Box – 1084Jeddah – 21431Saudi Arabia+96626605128

Jubail:ACE Insurance & Reinsurance Brokers Ltd.P.O. Box 726, Jubail 31951 Saudi Arabia+96633611006

Yanbu:ACE Insurance & Reinsurance Brokers Ltd.3rd Floor, Al Higgi Commercial Center,Malik Abdul Aziz Street,Yanbu Albahar, Saudi Arabia+9663917622

Makkah:ACE Insurance & Reinsurance Brokers Ltd.Al Zahra BuildingAl Nuzha Street, Makkah Al MukaramahSaudi Arabia+96625473086

Kuwait:ACE Insurance Brokers P.O. Box 2474, Safat 13025, Darwaza Abdul Razzaq, SharqKuwait+96522463610

Dubai:Arab Commercial Enterprises LLC P.O. Box – 1100, Business BayDubai -United Arab Emirates+97143601400

Lebanon:ACE Insurance Brokers SARLP.O. Box – 113-5112 BeirutLebanon+9611340171

Greece:ACE (Hellas) Insurance LLC P.O. Box – 70287Glyfada – 16674 Greece+302109649683

Bahrain:ACE Insurance Brokers WLL PO Box: 60138 Bahrain+967317562561

Qatar:ACE Qatar Limited (Claim Surveys Operations)P. O. Box 607, Al Saad Area, DohaQatar+9744130205

Abu Dhabi:Arab Commercial Enterprises (Saudia) LtdP.O. Box 38417Abu Dhabi – United Arab Emirates+97124942100

Oman:Arab Commercial Enterprises Insurance Brokers LLCP.O. Box 839 Jibroo - Postal Code 114 Sultanate of Oman +96824787357

Office LocationsH.O.:ACE Holding WLL | Office 72, LMC Building 852 | Road 3618, Block 436 | Al Seef | Bahrain