ACE announced on Thursday, 19th that it has opened a representative office in Kiev, as the latest step in its expansion across Europe. According to the press-release "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. Previous, Yuriy SHUSTYK had the position of Executive Director at AON Risk Solutions.

"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", said Yuriy SHUSTYK.

"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", underlined Andrew KENDRICK, Chairman, ACE European Group.