European run-off insurer DARAG has named Tullio Ferrucci as Chief Executive Officer (CEO) of DARAG Italia, following the firm’s acquisition of ERGO Assicurazioni in 2016.
Following the acquisition of ERGO Assicurazioni, DARAG expects to expand its activity in Italy, which Stuart Davies, Chairman of DARAG, said is one of the firm’s core markets in which it sees significant growth opportunity.
Commenting on Ferrucci’s appointment, he said; “Tullio’s appointment as Italian CEO is a statement of our intent, with his energy, passion and drive set to support our efforts. I am therefore delighted to welcome Tullio to the DARAG team and look forward to working with him in the future.”
Ferrucci has served in a range of leadership roles in both the insurance and management consultancy sectors, and was a special board representative of Donau Versicherung AG to the Italian branch of the company, where he managed the firm’s distressed business.
He also served as Director-General of SACE BT, a start-up insurance company, and commercial director of Euler Hermes’ Rome branch.
Ferrucci began his career as a product manager for Henkel, a leading care products manufacturer.