Global multiline property and casualty insurer ACE Group has rolled out an assortment of surety products in its Benelux region, as part of its business strengthening plan.
The company supported by its global network will provide an array of surety products for clients based in the Netherlands, Belgium and Luxembourg.
The new surety products include contract bid, performance and advance payment bonds; customs bonds, bonds to secure legal/regulatory obligations and bonds to appeal adverse tax-related and civil judgements.
Björn Eding has been appointed as surety underwriting manager who will also strengthen ACE’s effort to continue expansion of its surety capabilities in Continental Europe.
Eding who has more than 17 years of experience in the surety, real estate and banking industries, will be accountable for the growth and development of ACE’s surety capabilities in Benelux.
Prior to joining ACE, Björn worked as principal relationship manager and head of international clients with Nationale Borg, one of the independent surety companies in the Netherlands. Operating out from Rotterdam, Eding will take charge immediately.
ACE Benelux country president Ron Verhulsdonck said: "The addition of surety to our portfolio underlines our commitment to providing a broad proposition for our most significant clients."
"His great knowledge of the market will help us provide superior cover to the increasing number of companies in Benelux that are seeking alternative credit lines."
ACE Europe senior vice president and surety head Luc Reuter said: "The launch of our surety proposition in the Benelux is the next natural step in our strategy since 2012, and addresses the rising needs of successful companies exporting abroad."
With operations in 54 nations, ACE offers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance.
Image: ACE North American headquarters: Philadelphia, Pa. – Interior. Photo: courtesy of 2014 ACE.