LONDON--(BUSINESS WIRE)--ACE today announces the launch of a new product line for its UK Property & Casualty portfolio.
The launch of ACE Evolve Machinery Manufacturers coincides with recent figures released by the CBI* which indicate the outlook for UK manufacturers improving in 2012, with reported export orders increasing both in January and February this year.
ACE’s Evolve Machinery Manufacturers product is designed for mid market businesses offering a specialist and coordinated insurance programme. A growing number of machinery manufacturers that are based in the United Kingdom have operations in at least one other overseas location which impacts their exposures. ACE’s specialist product and global presence offer a solution for expanding manufacturers by guiding them through the pitfalls of multinational trading and compliance.
An ACE Machinery Manufacturers product will be tailored to suit individual businesses’ needs and exposures with ACE supporting brokers and their clients throughout the process.
Pat Drinan, ACE’s Director of Corporate Risks, UK & Ireland, commented: “With the spotlight in the UK on exporting for growth, and with manufacturing accounting for half of all UK exports, machinery manufacturers need to ensure they are covered against a wide range of risks which differ in each territory. Developing cover specific to machinery manufacturers at this time underlines ACE’s commitment to understanding the needs of growing manufacturing clients and responding with customised, compliant programmes.”
* The CBI Industrial Trends Survey is conducted on a monthly and quarterly basis and covers 38 sectors of UK manufacturing industry at chief executive level.
ACE Group is one of the world’s leading global commercial property and casualty insurance organisations. ACE has a physical presence in 53 countries, and commercial and individual customers in more than 170 countries.
ACE European Group is part of the ACE Group, a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. ACE’s core operating insurance companies – including ACE European Group Limited – hold financial strength ratings of AA- (Very Strong) from Standard & Poor’s and A+ (Superior) from A.M. Best.
ACE UK & Ireland’s five regions are:
∙ Ireland (Dublin and Belfast) ∙ Scotland (Glasgow) ∙ The North (Leeds, Manchester, Newcastle)
∙ Midlands (Birmingham) ∙ London and South East (London, Maidstone, Reading, Watford)
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