ACE & NEIL Announce Joint Marketing Alliance For Non-North American Nuclear Utilities.

HAMILTON, Bermuda--(BUSINESS WIRE)--Nov. 10, 1999--

ACE Bermuda Insurance Ltd., (ACE Bermuda), a subsidiary of ACE Limited (NYSE:ACL), and Nuclear Electric Insurance Limited (NEIL), today announced the formation of a marketing alliance to supply property, business interruption and third party liability insurances to non-North American nuclear utilities.

Under the terms of the alliance, ACE Bermuda and NEIL will jointly target utilities currently insured under one or more industry pooling arrangements, providing replacement coverages at terms and rates based on the individual utility's exposures and experience. NEIL, based in Wilmington, Delaware, provides insurance to every operating nuclear plant in the United States and will bring state of the art engineering and time proven underwriting techniques to the non-North American market through its wholly owned Irish insurance subsidiary, Overseas NEIL Limited (ONEIL). ONEIL can write property and business interruption limits of more than US$3.0 billion outside the United States. Bermuda-based ACE, which provides the largest third party liability capacity in the world market, will underwrite to statutory limits for the domicile of each nuclear risk. In combination, ACE and NEIL will provide a broad range of coverages and engineering services to nuclear risks outside of the United States.

ACE Bermuda President & CEO Gary Schmalzriedt stressed the unique strength of the ACE/NEIL alliance.

"We have been interested in entering the non-North American nuclear market for some time in a program such as this, and are very excited to partner with NEIL and ONEIL, whose history and credentials are without equal."

NEIL President Quentin Jackson, echoed similar comments. "NEIL and ACE bring to the nuclear market the best combination of financial and technical strengths available from any source. We expect, through ONEIL, to develop a significant book of international nuclear business to complement our U.S.book."

Each company affirmed the long-term nature of the alliance and their mutual commitment to the nuclear market.

The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The company conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at: www.acelimited.com.

Nuclear Electric Insurance Limited is a mutual insurer owned by its Member nuclear utilities. It is the largest writer of nuclear property and business interruption insurance in the United States and together with ONEIL provides the largest amount of such insurance globally.