Ace USA, the U.S. retail operating division of the Ace Group of Cos., said Tuesday that Michael Canter had been appointed president of Ace Principal Finance, the unit that underwrites portfolios of credit risk and helps its parent hedge the financial and credit risks that arise from its insurance operations.
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Mr. Canter was an executive vice president and managing director of Ace Financial Solutions, of which Ace Principal Finance is a part. Before joining Ace in 2000, he was a senior vice president at AIG Risk Finance.
Ace Financial Solutions is the unit of Ace USA that sells nontraditional insurance and risk financing solutions to companies facing complex risk management issues.
