News Releases

PARIS--(BUSINESS WIRE)--ACE Group today announced the launch of a new luxury goods practice across Continental Europe, as it continues to build its presence in this important sector of the European economy.

The launch of the practice follows research by ACE where almost six in ten European luxury goods companies taking part report that globalisation has increased the interdependency of risks they face. Respondents believe that the luxury goods industry faces greater reputational risk than those in other industries.

ACE already offers comprehensive risk management and insurance solutions for many of the Continent’s major luxury goods companies active in the watches, jewellery, apparel, cosmetics, perfumes and fashion goods sectors. The new practice brings together under a single team, the company’s expertise across the region and the world with the objective of further strengthening broker and client relationships and driving seamless solutions for buyers.

The practice comprises experts in four markets who will act as contact points for brokers and their luxury goods industry clients:

• Olivier Roussel, France – based in Paris
• Stephan Best, Germany – based in Frankfurt
• Thomas Kemper, Switzerland – based in Zurich
• Francesco Ilgrande, Italy – based in Milan

Olivier Roussel, Director, Major & International Accounts for ACE in France and Practice Head said:

“The luxury goods sector is symbolic of how successful European companies can be globally – and a crucial contributor to growth and job creation. But, as luxury goods companies grow and expand abroad, they face new exposures and a series of new, emerging risks. The launch of our luxury goods practice will further enable us to help our luxury goods clients to face this emerging complex array of risks with sophisticated risk management solutions.”

ENDS

About ACE:

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 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