ACE USA Announces Regional Appointments in ACE Excess Casualty Division.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--June 9, 2004

ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, today announced two appointments in the ACE Excess Casualty Division of ACE Casualty Risk: Connie Germano has been named Eastern Zonal Manager and Mitchell Schmidt has assumed responsibility as Western Zonal Manager. ACE Casualty Risk is the operating unit within ACE USA, which provides excess casualty, environmental and workers compensation (small business only) coverage for commercial insureds. ACE Excess Casualty specializes in lead umbrella and excess liability products, focusing on those risks that generate $200 million or more in revenues. ACE Casualty Risk products are distributed through the brokerage community to the commercial market.

Connie Germano:

Based in New York City, Ms. Germano adds the Eastern Zonal Manager role to her current duties as Vice President of Energy Excess Casualty, responsible for all aspects of branch operations for the Eastern Zone encompassing Atlanta, Boston, New York City, and Philadelphia. Ms. Germano has more than 17 years of insurance experience in the primary package and excess casualty lines of business, and for the past 10 years has focused specifically on excess casualty. She joined ACE USA in 2003 from American International Group (AIG), where she previously served as Divisional Vice President and Chief Underwriting Officer, managing AIG's primary and excess casualty product line, and with profit and loss responsibilities for energy-specific excess. Prior to that, Ms. Germano served in a variety of excess casualty management roles, including Divisional Vice President of AIG's Middle Market excess casualty product line.

Mitchell Schmidt:

Leading the Western Zone is Mitchell Schmidt, Vice President of ACE Excess Casualty who most recently served as Midwest Regional Excess Casualty Manager. He will be based in Chicago. The Western Zone encompasses the ACE Excess Casualty underwriting operations in Chicago, Dallas, Houston, Los Angeles and San Francisco. Mr. Schmidt's previous significant insurance experience focused on underwriting excess casualty and primary risk management lines of business. He joined ACE USA in July of 2003 from Chubb Insurance Group, where he previously served as Midwest Regional Excess Casualty Manager, overseeing the growth, profit and loss activities of the excess book of business. Prior to that position, Mr. Schmidt served in a variety of regional excess casualty management roles for Chubb in St. Louis, Kansas City and Chicago.

"Connie and Mitch's demonstrated underwriting expertise and strong leadership qualities will ensure the continued growth of field operations for ACE Excess Casualty. Their expanded regional roles will also provide the opportunity to ensure consistent underwriting delivery while continuing to meet the needs of our customers," said Jonathan Zaffino, Senior Vice President of ACE Excess Casualty. "I look forward to working with both Connie and Mitch in our continuing effort to grow ACE USA's excess casualty capabilities in the United States."

ACE USA is a U.S.-based operating division of The ACE Group of Companies, headed by ACE Limited (NYSE:ACE). ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.