ACE USA Appoints Philip Twietmeyer as Senior Vice President of ACE Select Markets.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Jan. 21, 2004

ACE USA, the U.S.-based retail operations of the ACE Group of Companies (NYSE:ACE), today announced the promotion of Philip Twietmeyer to Senior Vice President of ACE Select Markets. Based in Cherry Hill, N.J., Mr. Twietmeyer will continue to have overall responsibility for the NewMarkets Insurance Agency, a wholly-owned agency, for ACE Select Markets. In addition to marketing professional liability products for ACE, he will be expanding his responsibility to market additional ACE products suitable for small to mid-sized businesses, including environmental liability, workers' compensation, specialized weather products, and personal lines products for affinity groups.

"We are pleased to increase the scope of Phil's position within ACE Select Markets and ACE USA," said Patricia Goudarzi, Executive Vice President, ACE Select Markets. "His more than 20 years experience in underwriting and marketing of property, casualty and professional liability lines and his strong background in distribution of commercial and professional liability products will be invaluable as we expand the distribution of ACE products through this business unit and to the smaller-tiered players."

ACE Select Markets, a division of ACE USA, provides specialty personal lines insurance products, which are distributed through large specialty agents, alliances and affinity groups, and distributes ACE's commercial lines products to the smaller-tiered producers. ACE Select Markets' specialty personal lines products include coverage for recreational vehicles, collector automobiles, motorcycles, recreational boats and yachts. In addition, ACE Select markets offers credit card enhancement programs and disaster mortgage protection. ACE's commercial lines products marketed through ACE Select Markets include professional liability coverage, environmental, workers' compensation, specialized weather products and captive management for affinity groups. The NewMarkets Insurance Agency distributes products for ACE as well as other insurance carriers.

Mr. Twietmeyer most recently served as Vice President of NewMarkets Insurance Agency, a wholly-owned agency, for ACE Select Markets. Prior to that he served as Vice President in the ACE USA Diversified Risk group, overseeing its distribution and marketing efforts. He joined ACE USA from Hobbs Group, Inc., where he served as Vice President of program development. Prior to that, he managed the National Program Division for Continental Insurance, and then served as Chief Underwriting Officer for Philadelphia Insurance Company. He began his insurance career with Travelers as a Commercial Lines Underwriter.

Mr. Twietmeyer holds a bachelor of arts degree in education from Concordia University. He holds the Chartered Property Casualty Underwriter designation (CPCU) and is a member of the Professional Liability Underwriting Society (PLUS).

ACE USA is a U.S.-based operating division of the ACE Group of Companies, headed by ACE Limited (NYSE:ACE). ACE USA 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.