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ACE introduces surety products suite in Italy

ACE Group, a multiline property and casualty insurer, has introduced a suite of surety products for the Italian market, in an effort to continue expansion of its international capabilities in the Continental Europe region.

Supported by the company’s global network, the new portfolio will feature contract bid, performance and advance payment bonds, vat and customs bonds, as well as bonds to secure payment and legal/regulatory obligations, and appeal adverse tax-related and civil judgements.

The company has also appointed Edoardo Sacchi as Surety Underwriting Manager, with immediate effect, to grow and develop its surety capabilities in Italy, and support continued development of its European surety offering.

Operating from Milan, Sacchi will report to Luc Reuter, senior vice president and head of Surety, Europe.

Sacchi holds over 25 years of experience in surety and has recently worked at Zurich Insurance as Head of Surety for Italy.

Reuter said, ”Our move in to Italy is a natural extension of the successful strategy we began last year.”

ACE Group Country Italy president Orazio Rossi said, ”The addition of surety to our portfolio underlines our commitment to providing a broad proposition for our Italian clients.”