ACE American Insurance Company Tunisia Branch (AAIC Tunisia) is planning to cease its reinsurance underwriting activities in Tunisia. The branch's shutdown is still pending the approval of the Ministry of Finance. Headed by Kamal Kaabi, the Tunis office will, however, continue to operate normally until the Tunisian authorities' approval.
After the termination of AAIC Tunisia's operations, AAIC US, based in Pennsylvania, will be assuming responsibility for the reinsurance business underwritten by the Tunisian branch, including outstanding receivables and balances and any other payment obligations.
Chubb Underwriting (DIFC), a subsidiary of Chubb headquartered at the Dubai International Financial Centre (Dubai), will handle the renewals and underwriting of contracts that have already been processed by AAIC Tunisia.
It is worth recalling that in 2016, ACE acquired the American group Chubb resulting in the establishment of the insurance giant "Chubb Limited".
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