ACE Group announced the launch of a new luxury goods practice across Continental Europe.
The launch of the practice follows research by ACE where almost six in ten European luxury goods companies taking part reported that globalization 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 said in a statement.
ACE said it already offers comprehensive risk management and insurance solutions for major luxury goods companies active in the watches, jewelry, 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.”
Source: ACE Group