ACE USA Special Risk Facilities Appoints Jay Lefkowitz as SVP of Financial Solutions Group and Northeast Regional Executive.

PHILADELPHIA--(BUSINESS WIRE)--Nov. 18, 1999--

ACE USA Special Risk Facilities (SRF), which recently announced its new organizational structure since acquiring the CIGNA P&C business in July, has named Jay Lefkowitz to its executive management team. Lefkowitz will serve as senior vice president of the Financial Solutions Group, which includes Combined Risk, Finite Risk and Risk Solutions products, and as regional executive of the Northeast Region.

"Jay is a seasoned insurance veteran with an accomplished record in the large account area. Over the years, he has built a solid reputation as an intelligent underwriter while gaining a significant following among New York brokerage firms and a national reputation in the mergers and acquisitions sector," said SRF President Bill Curcio. "I am pleased to have him serve in a dual role on our executive team."

SRF's new executive team will lead the four major business units - Core Casualty, Casualty Specialty, Financial Products and Financial Solutions Group - operating through five regional territories: Northeast, Atlantic, Midwest, Southwest and Pacific. "By designating a senior vice president to lead each region, we've moved decision-making and accountability closer to our customers. These accomplished field executives will be of equal rank and assume responsibility for the profit and loss margins within their regions," Curcio said.

Lefkowitz, who is based in SRF's New York office, joins ACE USA from AIG, where he served 10 years, most recently as vice president of the Mergers and Acquisitions Unit. While there, he managed all aspects of the unit, including Casualty underwriting for large-risk customers and prospective and retrospective insurance. Prior to that, he served in AIG's New York region as unit supervisor, underwriting manager and regional manager. Lefkowitz's 15-year insurance career includes a variety of national account underwriting positions for CNA, Atlantic Mutual and Home Insurance.

"I am looking forward to building on the well-deserved reputation SRF has earned among its large-risk customers," Lefkowitz shared. "Serving the Northeast Region from the New York office will provide an even greater opportunity to service customers, especially those which I already have strong relationships with."

Lefkowitz is a graduate of Boston University (B.S., Business Administration) and Pace University (M.B.A.). He resides in Wayne, NJ with his family.

ACE USA, headquartered in Philadelphia, is the U.S. operations of the ACE Group of Companies, headed by ACE Limited (NYSE: ACL). On July 2, 1999, ACE Limited completed the acquisition of the property and casualty insurance business of CIGNA Corporation. ACE USA provides insurance products and services through the U.S. operating subsidiaries. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.