ACE hires Zurich surety head

ACE has expanded its European surety business to Germany with the appointment of Charles Villette as surety underwriting manager.

Villette will be responsible for the growth and development of ACE’s surety capabilities in Germany and support the continued development of ACE’s European surety offering.

He will be based in Frankfurt and report to Luc Reuter, senior vice president and head of surety for ACE in Europe and Andreas Wania, ACE country president, Germany.

He joins from Zurich where he was head of international surety business.

Wania said: “The addition of surety to our portfolio underlines our commitment to providing a broad proposition for our most significant clients in Germany. Charles is an experienced surety professional; his knowledge of the local as well as the international surety market will help us provide superior cover to the increasing number of companies in Germany that are seeking alternative credit lines.”

Reuter added: “The expansion of our surety offering in Europe has been welcomed by both brokers and reinsurance partners. The launch of our surety proposition in Germany 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.”