Woodbourne Avenue residential property so it can put in a daycare centre, an executive at the company confirmed.

"We see our requirements for daycare growing as the company expands,'' ACE senior vice president, administration Keith White said.

ACE is looking to convert number 16 Woodbourne Avenue, "Glenwood'', a white house with yellow shutters across from the Woodbourne Chemist, to a daycare centre.

The insurer currently leases number 18, the old Woodbourne Guest House next to Oxford Guest House, and offers its staff daycare for their children there.

The existing daycare centre -- as well as the proposed new one -- would be convenient to the company's offices currently located in the ACE building on the corner of Woodbourne Avenue and Pitts Bay Road.

The DAB application is an initial move and was gazetted May 16. The application was made under Mr. White's name. If approved, ACE will make a final application.

Last August, the DAB allowed ACE to change the use of Woodbourne Guest House to a daycare centre.

About 20 employees of the ACE group of companies use the centre for their children under primary school age.

ACE, with more than $4.7 billion in assets, provides insurance and reinsurance to clients worldwide and owns three Lloyd's of London managing agencies.