ACE Risk Management Announces New Appointments.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--April 9, 2003

ACE Risk Management (ARM), part of ACE USA, today announced that William A. Rabl has been appointed chief underwriting officer of ARM and Catherine Fabiitti has been appointed senior vice president of ARM's new unit, Industry and Specialty Products.

ARM offers comprehensive Risk Management Programs and Services, which are uniquely designed and customized to assist companies in any industry deal with the significant costs of financing and managing risk.

William A. Rabl, Chief Underwriting Officer

In his position as chief underwriting officer, Rabl will have the primary responsibility for all underwriting operations for ACE Risk Management, including corporate risk, custom casualty, excess worker's compensation and wrap-up divisions. Rabl replaces Jim MacDonald, who has been promoted to chief underwriting officer for ACE USA.

With more than 19 years of property and casualty experience, Rabl has held a number of positions in the insurance industry. Prior to joining ACE, Rabl was the senior vice president and director of Global Casualty for Lockton Companies, where he focused on structuring risk management solutions for large corporate clients. Before that, Rabl led the Offshore Programs Division for AIG Risk Management.

Rabl graduated Magna Cum Laude from St. John's University, with a BS in Quantitative Analysis, and an MBA in Finance and International Business from New York University's Stern School of Business. Rabl also holds the Associate in Risk Management designation.

Catherine Fabiitti, Senior Vice President, Industry and Specialty Products

In her new position as senior vice president, Industry and Specialty Products, Fabiitti will oversee the active management of ARM business, leveraging its core product line strengths while pursing new opportunities and focusing on expanding the company's reach into niche markets.

The Industry and Specialty Products division combines the Custom Casualty and Excess Worker's Compensation centers in one streamlined unit. Fabiitti will continue to serve as senior vice president of Customer Services/Operations for ARM, a position she has held since joining ACE in 1999.

Fabiitti joined ACE from Zurich Insurance, where she served as vice president in the Umbrella Excess area. Prior to that, she was a vice president in AIG Risk Management where she was responsible to underwriting management and overseeing their profit center.

She began her career in the insurance industry working for the Hartford, where she worked in the large account division, umbrella excess area and casualty facultative reinsurance brokering. Fabiitti holds a BS from Stonybook University.

ACE Risk Management is part of ACE USA, a U.S.-based operating division of the ACE Group of Companies, owned by ACE Limited (NYSE:ACE). ACE USA provides insurance products and services throughout the U.S. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.

For more information about the ACE Group of Companies, visit www.acelimited.com.