10 July 2014News

ACE expands EU surety business to Benelux region

ACE Group has announced the launch of a suite of surety products in its Benelux region as it continues to expand its surety capabilities in Continental Europe.

The company simultaneously announced the appointment of Björn Eding as surety underwriting manager for the region.

Supported by its global network, ACE will offer a range of surety products for clients based in the Netherlands, Belgium and Luxembourg, including:

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

Eding will be responsible for the growth and development of ACE’s surety capabilities in Benelux and support the continued development of ACE’s European surety offering. He has over 17 years of experience in the surety, real estate and banking industries and joins ACE from Nationale Borg, the largest independent surety company in the Netherlands, where he was principal relationship manager and head of international clients. He takes up this newly-created role with immediate effect and will be based in Rotterdam.

Ron Verhulsdonck, country president for ACE in Benelux, says: “The addition of surety to our portfolio underlines our commitment to providing a broad proposition for our most significant clients. Björn is one of the most experienced surety professionals in the Netherlands and the wider Benelux region. 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.”

Luc Reuter, senior vice president and head of surety for ACE in Europe, adds: “The expansion of our surety offering in Europe has been welcomed by both brokers and reinsurance partners. 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. ACE’s AA rating, global presence and great underwriting expertise give us a strong platform to grow our offering.”