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The Collaborative Clearinghouse for Lawsuits and Other Claims Against ACE Group Insurance Companies

Phillip V. Bancroft

Job Title: 
CFO, ACE Ltd.
Prior Experience: 
Partner-in-Charge for PricewaterhouseCoopers' New York Regional Insurance Group





Salary Bonus Stock Awards Option Awards All Other Compensation Total in CHF Total in USD
$656,543 $937,918 $2,069,230 $255,669 $530,695 $4,450,055 $4,744,610

 

All Other Compensation:

Perquisites and other personal benefits, consisting of the following:

• Perquisites including personal use of the corporate aircraft and corporate apartment, and miscellaneous other benefits, including club memberships, private drivers, financial planning, executive medical cover, car allowance or car lease and car maintenance allowance.
• Other personal benefits including housing allowances and cost of living allowance.
• In 2012 and 2011, housing allowances were provided to Messrs. Bancroft and Cusumano because these individuals have been required by ACE, to maintain a second residence in Bermuda in addition to maintaining their own personal residence.
• Included in this table are amounts for personal use of corporate aircraft by all Group Executives who make personal use of the corporate aircraft, although the Board has required Mr. Greenberg to use corporate aircraft for all travel whenever practicable for security reasons. For all other Group Executives, personal use of the corporate aircraft was limited to space available on normally scheduled management business flights.

Effective in 2011, ACE and the Group Executives agreed to eliminate all tax reimbursements and gross-ups, including with respect to the perquisites and other personal benefits listed above.

Contributions to retirement plans for 2012 and 2011 totaled CHF 1.45 million ($1.54 million) and CHF 1.27 million ($1.43 million), respectively.
• These consist of discretionary and non-discretionary employer contributions. The discretionary employer contributions for 2012 have been calculated and will be paid in April 2013.

Information found in 2012 ACE Limited Annual Report