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LONDON--(BUSINESS WIRE)--ACE today announced that it has opened a representative office in Kiev, as the latest step in its expansion across Europe.

As well as acting as a liaison office for ACE’s multinational clients with a presence in Kiev, this will enable ACE to build its profile and relationships with the Ukraine insurance market locally for the first time. The office will also lead ACE’s research as it considers future opportunities to participate in Ukraine’s property and casualty insurance sector.

ACE has appointed Yuriy Shustyk to manage its new office in Kiev. Yuriy has 14 years of insurance industry experience and was Executive Director at Aon Risk Solutions, Ukraine before joining ACE.

Yuriy Shustyk, Head of Representative Office, ACE in Ukraine said: “Ukraine’s economy grew by almost 5% last year, and we are positive about the future. We are therefore delighted to have received approval to open a representative office for the first time. This marks the start of what I hope will be a long and successful relationship for ACE with the local market.”

Andrew Kendrick, Chairman, ACE European Group, said: “Since 2005, we have expanded ACE’s footprint in Europe from 16 to 22 territories. This latest step in our steady expansion underlines our long-term commitment to the region’s emerging insurance markets. As a global insurer operating in 53 countries worldwide, it will also further enhance our ability to serve multinational clients in an increasingly connected world.”

About ACE

The ACE Group is 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. Additional information can be found at:www.acegroup.com.