ACE launches dedicated financial lines insurance team in Turkey; appoints
Sare Bayat as Financial Lines Manager
ISTANBUL -- June 26, 2013
ACE Group today announced the launch of a new, dedicated financial lines team
in Turkey and the appointment of Sare Bayat as Financial Lines Manager as it
continues to build its liability insurance capabilities in the country.
The launch takes place at a time when Turkish business executives’ awareness
of the legal responsibilities associated with business leadership and
decision-making is growing and the liability risks for companies are
increasing as the Turkish economy integrates with global markets.
In this role, Sare will be responsible for the continued growth and
development of ACE’s financial lines portfolio in Turkey, and the expansion of
its customer base, with a focus on directors and officers liability. She will
report to Ebru Gurtan, ACE’s Country President for Turkey and to Nadia Cote,
Financial Lines Manager for ACE in Continental Europe.
Sare started her career at Oyak Securities as a financial analyst where she
worked for two years before joining insurer AIG as Financial Lines Profit
Manager in 2005. During her time at AIG, she was responsible for the strategic
development of financial lines in Turkey, including forecasting, budgeting,
talent management, plus marketing and growth strategy.
Sare gained a BA Degree from Koc University, Department of Business
Administration in 2004. She previously also attended Simon Fraser University
(Canada), studying Business & Management Studies/Finance. After graduation,
she joined a masters programme at Bogazici University and graduated with a MSc
in Financial Engineering in 2008.
Ebru Gürtan, Country President for ACE in Turkey, said: “At ACE, we have
steadily been building our financial lines capabilities in Turkey in recent
years. In Sare, we have recruited one of the best in the business to lead a
new, dedicated team that will now allow us to further build our proposition
for customers as they navigate the increasingly complex operating environment.
This announcement underlines our position as a pioneer of innovative liability
products in Turkey as company directors and CEOs face increasing legal and
financial responsibilities to shareholders in terms of transparency and
Tim O’Donnell, Executive Vice President, Financial Lines, for ACE’s overseas
operations, said: “We see Turkey as one of the world’s key emerging insurance
markets and extending our successful global financial lines franchise is a
reflection of our commitment to the country. I am confident that our extensive
global expertise, combined with our clear focus on hiring strong local
underwriting talent such as Sare, will greatly benefit our customers in
Recently, ACE has established a new financial lines team in South Africa, as
well as appointing a new Dubai-based financial lines manager for its Middle
East and North Africa (MENA) region.
The ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 53 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and supplemental
health insurance, reinsurance and life insurance to a diverse group of
clients. ACE Limited, the parent company of the ACE Group, is listed on the
New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
Communications Manager, EMEA
Tel: +44 (0)20 7173 7793
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