ACE Appoints Matthew Shaw Chief Underwriting Officer, ACE Global Markets; Andreas Lewin Appointed Managing Director, ACE Tempest Re Europe

ACE (NYSE:ACE) announced today the appointment of Matthew Shaw as Chief Underwriting Officer, ACE Global Markets (AGM). In addition, Matthew assumes the position of Chairman, ACE Tempest Re Europe, where he was previously Managing Director. Andreas Lewin is appointed successor to Matthew, becoming Managing Director of ACE Tempest Re Europe. In his new role, Matthew will report directly to Richard Pryce, President ACE UK. In the insurance industry for more than 25 years, Matthew started his career at Lloyd’s in 1982 working in Aviation and Non Marine lines, underwriting both direct and reinsurance business. He joined ACE Tempest Re Europe in October 2002 from St Paul, where he served as a director of the board of the Managing Agent and Active Underwriter for syndicate 340. Commenting on his appointment, Richard Pryce said; "Matthew’s considerable cross class underwriting and reinsurance expertise will prove invaluable to AGM as we seek to consolidate our position as a pre eminent global specialty and E&S insurer. In addition, Matthew will play a central role in the future expansion of AGM.” Andreas Lewin was appointed Deputy Managing Director of ACE Tempest Re Europe in June 2007. In his new role as Managing Director, Andreas reports to Jacques Bonneau, President and CEO, ACE Tempest Re Group and Matthew Shaw. Andreas previously served as President and Chief Executive Officer, ACE Tempest Re Bermuda, responsible for the management of ACE Tempest Re property and casualty operations in Bermuda. He joined the company in April 1998. A Bermudian, Andreas holds a Bachelor of Science in Mechanical Engineering from the Massachusetts Institute of Technology in Boston and the Associate in Reinsurance designation (ARe). Jacques Bonneau said; "I am pleased to announce Andreas’s appointment to this new role which recognizes his track record of accomplishment at ACE. He is a technically skilled professional with proven decision-making ability who can create and sustain business opportunities for Tempest.” Commenting on both appointments, Andrew Kendrick, Chairman and CEO - ACE European Group said; "It is a testament to both gentlemen's ability in their fields and their contribution to ACE that they have risen to such positions of responsibility. I know they will both continue to achieve success in their respective roles and am proud that both these positions have been filled by internal ACE candidates". Notes to Editors ACE ACE European Group has established branch offices in 19 countries across Europe, Freedom of Services permission to provide insurance services to clients in 30 European countries and affiliates in Egypt, Bahrain, Pakistan, Russia and South Africa. Part of the ACE Group of Companies, ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Group. ACE Europe provides a range of tailored Property and Casualty, Accident and Health and Personal Lines solutions for a diverse range of clients. ACE Global Markets (AGM) is ACE’s specialty international business, underwriting through ACE’s Lloyd’s Syndicate 2488 and ACE European Group Limited. Specialty lines include excess and surplus lines business, Marine, Aviation, Energy and Political Risk as well as Property, Financial Lines and Accident and Health. Additional information on ACE European Group can be found at www.aceeuropeangroup.com. The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor’s 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com