ACE Insurance, a unit of the ACE Group of insurance and reinsurance companies, has appointed Tim Shields as the new president director of PT Asuransi Jaya Proteksi, (Japro).
Following completion of transaction, subject to regulatory approval, Japro will merge with ACE's existing local operations, to form PT ACE INA Insurance (ACE INA) while significantly enhancing the company's general insurance operations in Indonesia.
After the merger, Sujaya Dinata Pangestu, Japro's current president director, will become vice president director. ACE INA president director Peter van Ratingen will assume the role of Regional Bancassurance head.
With over 20 years of experience in the insurance industry, Shields served in the UAE for an international insurance firm as managing director prior to joining ACE in 2012 as well as served as vice chairman and managing director of Egypt.
Shields also has experience in general management, sales, marketing and distribution and also held service with life and general insurance operations in Singapore as general manager in 2000.
ACE Asia Pacific regional president Damien Sullivan said, "Our acquisition of Asuransi Jaya Proteksi provides us the ideal platform to accelerate our expansion plans in this exciting country, particularly in the areas of personal lines and small commercial business insurance."
