ACE Seguros, a unit of insurance and reinsurance specialist ACE Group, has launched its business in the Peruvian insurance market.

ACE Seguros consists primarily of the insurance operations of Altas Cumbres Life Insurance Company, which ACE acquired in December 2006. The group received approval from Peru’s superintendent of banks and insurance on June 19, 2007 to operate in the country as ACE Seguros.

Through ACE Seguros, our company is participating in the dynamic and rapidly developing Peruvian insurance market, said Evan Greenberg, chairman and CEO of ACE Limited. We look forward to expanding the ACE Seguros product line to include a broad array of life, accident and health insurance products, as well as introducing additional distribution channels.

ACE Seguros has a customer base of more than 700,000 and specializes in accident, group, credit life and commercial property and casualty insurance. Distribution channels for its products include captive agencies, brokers and bancassurance.