ACE USA has appointed Teresa Black as the new senior vice president & CEO of ACE USA Surety, to lead the underwriting team and develop and cultivate new client and broker relationships.

Reporting to Stephen Haney, division president, ACE USA Surety and chief underwriting officer, global surety, ACE Group, Black will oversee the business from New York and ensure that clients and distribution partners leverage ACE’s growing international surety capabilities.

In the new role, she will also cooperate with the underwriting team to execute the business plan, ensure the attainment of growth and profitability targets, and oversee the division’s marketing initiatives.

With more than 20 years of insurance industry experience, Black was most recently working as senior vice president, distribution management at ACE USA.

In 2012, Black rejoined ACE from the New York City-based offices of a US carrier and prior to that she acted as vice president, national segment leader for ACE USA’s New York region, and as assistant vice president in the ACE professional risk division.

Before joining ACE, she served in an underwriting management capacity for several carriers, concentrating on D&O product lines.

With operations in 53 nations, ACE offers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.