Ace Limited has announced the retirement of Don Kramer...

Ace has announced the retirement of Don Kramer, who held the positions of executive, office of the president, and chief executive.

Kramer had held the position since May 2004.

He joined Ace in 1996 as vice chairman following the company's acquisition of Tempest Reinsurance, of which Kramer was chairman and chief executive.

Ace president Evan Greenberg commended Kramer, saying: "Kramer played a prominent role in the growth of our organisation, which is now one of the world's largest and most successful property and casualty insurance companies.”

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