Brian Dowd Appointed Head of U.S. Insurance Operations; John Lupica, Dennis Crosby Named to Key Executive Posts.

HAMILTON, Bermuda -- ACE Limited (NYSE:ACE) announced today that Brian E. Dowd, President & Chief Executive Officer of ACE Westchester Specialty, has been appointed Chairman & Chief Executive Officer of ACE USA, the U.S.-based property and casualty retail brokerage division of The ACE Group of Companies. He succeeds Susan Rivera, who has resigned. ACE USA appreciates her three years of service to the Company.

Mr. Dowd was also appointed Chairman of ACE Westchester Specialty, ACE's U.S.-based excess and surplus wholesale brokerage operation, and President of ACE INA Holdings, an insurance holding company that encompasses many of the organization's U.S.-based service and support functions. In his new role, Mr. Dowd will be responsible for all of ACE's retail and wholesale property and casualty insurance business in the United States and Canada - an operation that has generated over $3 billion in net earned premiums for the first nine months of this year and has more than 4,000 employees.

Reporting to Mr. Dowd will be John Lupica, who has been appointed President & Chief Operating Officer of ACE USA, and Dennis Crosby, who has been named President & Chief Executive Officer of ACE Westchester Specialty. Mr. Lupica was President, ACE Professional Risk and ACE USA Regional Operations, and Mr. Crosby was ACE USA Senior Vice President and Regional Executive, Southeast Region.

"I am delighted to appoint Brian Dowd to this new executive assignment heading our entire U.S. insurance franchise," said Evan Greenberg, President & Chief Executive Officer of ACE Limited. "His proven leadership skills and vast industry experience make him an outstanding choice to run our largest and most complex insurance operation. All of us look forward to Brian and his team building the ACE presence in the United States and Canada to one of unparalleled market leadership and profitability.

"John Lupica is the architect of our strong regional network that now so successfully serves our corporate customers and brokers and has been a major factor in ACE USA's growth momentum. While relatively new to the organization, Dennis Crosby also possesses considerable industry experience and knowledge.

"This team of executives demonstrates our company's deep pool of talent. The promotions reflect their outstanding personal performance and our utmost confidence in their skills. I wish them well in their new assignments."

Mr. Dowd joined ACE in 1995 as Senior Vice President, ACE Bermuda Property Division. After four years, he was promoted to Executive Vice President, ACE USA Property Division, a post he remained in until 2001, when he was appointed President, Specialty P&C Group. He became President of ACE Westchester Specialty in February 2002 and added the title of Chief Executive Officer in December 2003. Also in December 2003, Mr. Dowd joined the Office of the Chairman of ACE INA Holdings, which provides governance for ACE INA Holdings and its operations.

Before joining ACE, Mr. Dowd was a Senior Underwriting Officer for Arkwright Mutual Insurance Company from 1988 to 1995. He is a Chartered Property Casualty Underwriter (CPCU) and has a bachelor's degree in finance from Northern Illinois University.

Mr. Lupica joined ACE USA in 2000 as Executive Vice President, Diversified Risk, from American Reinsurance Company, where he was the Senior Vice President of the professional liability group. Prior to that, he was with American International Group for eight years, where he held a number of roles including Vice President of the company's directors and officers and errors and omissions lines. He holds a bachelor's degree in economics from Hobart College and a CPCU designation.

Mr. Crosby joined ACE USA in April 2004 after 23 years at The St. Paul Companies, where he held a variety of roles, the most recent of which was President, Commercial Middle Market. He holds a bachelor's degree in business administration from Appalachian State University.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, The ACE Group conducts its business on a worldwide basis with operating subsidiaries in approximately 50 countries. ACE USA provides a broad array of sophisticated property, casualty, financial, risk-management, and accident and health products and services to corporate and consumer clients, primarily through retail brokers. ACE Westchester distributes excess, surplus and specialized property and casualty products through wholesale brokers, and distributes a series of inland marine products through both retail and wholesale channels. Additional information can be found at: http://www.acelimited.com.