Multiline property and casualty insurer ACE Group has launched new independent cyber risk business unit for Continental Europe, in a bid to strengthen its local underwriting and risk management capabilities.
ACE noted that the business unit has been established following its research, which indicated that cyber is a top three emerging issue for European risk managers.
ACE Continental Europe regional president Jeff Moghrabi: "The launch of an independent cyber risk practice marks a significant step forward in our strategy for Continental Europe."
The new business unit includes cyber underwriting experts in five markets, including Xavier Leproux for France and Natalie Kress for Germany and Austria.
The team also includes Daniël Jacobs for Benelux, Riccardo Scalici for Italy and Tania Donoso for Spain and Portugal.
Within ACE’s financial lines and technical lines teams, the team will continue to get support from cyber specialists in the Nordics, Poland, Switzerland and Czech Republic.
Through a wide range of specialist products, the company already provides risk management and insurance solutions for computer hardware, first and third party cyber liability risks in crucial Continental European markets.
ACE Continental Europe regional cyber manager Kyle Bryant said: "Having asked brokers and clients what they most value from their cyber insurance partners in Continental Europe, we know that access to local decision-makers and the ability to build flexible and tailored solutions are paramount.
ACE offers commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a wide range of clients in around 54 countries.
Image: ACE has launched new independent cyber risk business unit for Continental Europe. Photo: courtesy of renjith krishnan/ FreeDigitalPhotos.net.