ACE Expands European Surety Business to Italy; Appoints Edoardo Sacchi as Surety Underwriting Manager

Tue May 14, 2013 5:35am EDT

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ACE Expands European Surety Business to Italy; Appoints Edoardo Sacchi as Surety Underwriting Manager

ACE Group today announced the launch of a suite of surety products for the Italian market and the appointment of Edoardo Sacchi as Surety Underwriting Manager, Italy, as it continues to expand its international surety capabilities in its Continental Europe region.

Supported by its global network, ACE will offer a range of surety products for Italian clients, including:

  • Contract bid, performance and advance payment bonds
  • Vat and customs bonds
  • Bonds to secure payment and legal/regulatory obligations
  • Bonds to appeal adverse tax-related and civil judgements

Edoardo Sacchi will be responsible for the growth and development of ACE’s surety capabilities in the country and support the continued development of ACE’s European surety offering. Edoardo has over 25 years of experience in surety and joins ACE from Zurich Insurance, where he was Head of Surety for Italy for many years and, more recently, held technical responsibility for the Italian book as Surety Product Underwriting Manager within the company’s pan-European credit and surety underwriting team. He takes up this newly-created role with immediate effect and will be based in Milan, reporting to Luc Reuter, Senior Vice President and Head of Surety, Europe.

Luc Reuter, Senior Vice President and Head of Surety, Europe, said:

“With continuing pressure on financial institutions throughout Continental Europe, we see particular opportunities in the surety market and the expansion of our offering has been welcomed by brokers and reinsurance partners. Our move in to Italy is a natural extension of the successful strategy we began last year. ACE’s AA- rating, worldwide presence and underwriting expertise gives us a strong platform to grow our offering and also provides the security that is of real benefit to our clients.”

Orazio Rossi, Country President, Italy, said:

“The addition of surety to our portfolio underlines our commitment to providing a broad proposition for our Italian clients. As one of the most experienced surety underwriters in this marketplace, Edoardo is well-equipped to help us provide superior cover to Italian companies operating in both domestic and international markets.”

ENDS

About ACE:

The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE:ACE) and is a component of the S&P 500 index.

Visit www.acegroup.com/eu

EMEA at ACE
Juliet Tilley, Communications Manager
juliet.tilley@acegroup.com
Tel: +44 (0)20 7173 7793

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