New Ace regional president targets ‘spaghetti’ of global regulations

Ace has announced the appointments of Jeff Moghrabi and Steven Reiss to its Continental Europe management team with new regional president Moghrabi citing plugging regulatory gaps as a priority.

Speaking to StrategicRISK, Moghrabi said: “Our European research suggests that around half of businesses think their multinational insurance arrangements have significant gaps in terms of coverage and over 40% see significant gaps in terms of compliance.

“Our aim is to make their lives easier, by providing the up-to-date information they need on their international programmes and helping them get to grips with the complex and seemingly unconnected spaghetti of regulatory developments around the world.”

As regional president Continental Europe, Moghrabi will be responsible for all of Ace’s property and casualty, accident and health and consumer lines operations across 19 countries that make up the Continental Europe region having previously held the role of chief operating officer for Continental Europe.

His successor in that role will be Steven Reiss who currently heads the US’s Mid-Atlantic region. As chief operating officer, Reiss will have specific responsibility for the performance and development of each of Ace’s business lines as well as the sales and distribution function of the region and will support Moghrabi in developing and implementing Ace’s strategy for Continental Europe from its base in Paris.

Speaking about the company’s immediate plans for the region, Moghrabi said: “You can expect to see us expand our suite of specialty casualty products, grow our new surety practice, further enhance our environmental liability offering, leverage our international construction capabilities and extend our cyber-risk proposition in key European countries.”