ACE Appoints Operations Director to Improve Service Delivery Throughou

    Business Editors/Insurance Writers

    LONDON--(BUSINESS WIRE)--March 29, 2005--ACE European Group (NYSE:ACE) has appointed Isabel Gouveia-Lima as Operations Director. Based at the Group's European Headquarters in London, Isabel will drive process change and improvements throughout all aspects of ACE's service delivery. Building upon the company's existing strengths in its use of technology, she will be responsible for furthering ACE's well recognised reputation for superior service delivery to customers and brokers.
    Isabel joins ACE from Citigroup, where she spent the previous eight years driving business led operational changes throughout Europe. In total, Isabel has a career spanning over twenty years with a strong track record in leading operations functions within the financial services industry.

    Michael Furgueson, ACE's European Chief Operating Officer, said,

    "Against the backdrop of an increasingly competitive market place, it is essential that ACE continue to improve the quality and efficiency of all aspects of service delivery for both brokers and clients. ACE has well recognised advantages for service and innovation, especially in its use of technology.
    Adopting a consistent and coordinated approach to the management of ACE's operations support throughout Europe will ensure we further build upon these strengths and are better positioned to respond efficiently to future growth opportunities"

    Notes to Editors:

    The ACE European Group comprises the businesses of ACE Europe, ACE Global Markets and ACE Tempest Re (Europe).
    ACE Europe is the principal retail; brand for the Group, providing a range of tailored property and casualty, accident and health and personal lines solutions for a diverse range of clients. ACE Europe underwrites through the UK based, FSA regulated ACE European Group Limited.
    ACE European Group Limited has FSA permissions to underwrite all 18 classes of insurance and reinsurance business through its established branch network in 15 countries, Freedom of Services permissions to underwrite business in 27 European countries, Excess & surplus lines eligibility in 37 US states and the ability to underwrite reinsurance in most countries.
    ACE Global Markets (AGM) is ACE's speciality international business, underwriting through ACE European Group Limited and ACE's Lloyd's Syndicate 2488. Specialty lines include excess and surplus lines business, marine, aviation, energy and political risk as well as property, financial lines and accident and health. Syndicate 2488 holds an Aa3 financial strength rating from Moody's, one of the highest in the Lloyd's of London market.
    The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients ACE Group conducts its business on a global basis, with operating subsidiaries in nearly 50 countries. Additional information can be found at www.aceeuropeangroup.com

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CONTACT: ACE European Group Miles Russell, 020 7173 7578 Communications Director

KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE INDUSTRY KEYWORD: INSURANCE BANKING MANAGEMENT CHANGES SOURCE: ACE European Group

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