ACE INA Appoints Robert Omahne President, ACE Financial Solutions.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Jan. 31, 2000

ACE INA, a wholly-owned subsidiary of ACE Limited (NYSE: ACL), has named Robert Omahne president, ACE Financial Solutions, a newly-formed business unit focused on non-traditional insurance and financial risks.

In this role, Omahne will be primarily responsible for the development of financial risk insurance products, as well as lead the ACE INA movement to address the convergence of finance and insurance.

&uot;Bob brings to the table an excellent background and will energize our efforts in this exciting area of product and service opportunities. His 26 years in the insurance and banking industries, and recognized leadership in the creation of innovative risk financing solutions, were key in identifying him as the right candidate to manage this significant growth area of our company,&uot; said Dominic J. Frederico, chairman, ACE INA.

Omahne has held senior positions with First Wisconsin Corporation, MGIC Indemnity Corporation, Western Employers Special Risk, Great American Insurance Company, and most recently with American International Group, as executive vice president and chief underwriting officer, AIG Risk Finance. Omahne's contributions at AIG included the generation of more than $4 billion of gross premium through the creation of a variety of financial, risk financing, risk management, insurance and credit enhancement initiatives. A graduate of Marquette University in Milwaukee, Wisconsin, Omahne earned his BS degree in accounting.

&uot;ACE is an organization on the cutting edge of the movement in the industry toward managing a customer's financial success holistically -- versus using purely traditional insurance approaches. My background and goals were a natural fit with ACE's plans, which made this the right move for me to make as the next step in my career. ACE is a well-managed, strong company that is proving to be a formidable player in what many of us see as a reinvention, rather than an evolution, of the insurance industry. I am excited to become part of the ACE management team,&uot; said Omahne.

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