The ACE Group, a provider of insurance and reinsurance services, has appointed Juan Alberto VĂ©lez Arredondo as its new regional president for Latin America, ACE Life.

Reporting to ACE Life president Russell Bundschuh, Velez will be responsible for the company’s life insurance operations in nine countries, and will also advance its sales and service efforts, by working in collaboration with the company’s other personal insurance businesses in the region.

Bundschuh said, ”His leadership experience and record of accomplishment in insurance distribution channels throughout Latin America will serve him well as we seek to further expand our life insurance business in this important and fast-growing region.”

Velez holds more than 30 years of experience in the insurance industry, and served as chief executive officer for Seguros Multiva, Grupo Financiero Multiva, prior to joining ACE.

Velez also held several leadership roles at HSBC, which includes CEO, deputy CEO and executive vice president for HSBC Seguros, CEO of HSBC Afore and Chief Risk Officer for HSBC Seguros Latin America.

ACE offers multi-line property and casualty insurance, health insurance, reinsurance and life insurance in 53 countries across the globe.