News Releases

NEW YORK--(BUSINESS WIRE)--Jan. 31, 2006--The ACE Group of Companies announced today the appointment of new senior managers in South Africa and New Zealand. 
 

Scott Pickering, Country Manager and Managing Director of ACE New Zealand, has been appointed Chief Executive Officer for ACE's new South Africa operation. Based in Johannesburg, Mr. Pickering will report to Richard Pryce, an Executive of ACE European Group. Mr. Pickering will assume the new post in early February, with business operations commencing in April.

Michael Poole, Regional Manager in New Zealand, has been appointed to the position of Managing Director of ACE New Zealand succeeding Mr. Pickering. Mr. Poole has held a number of senior positions with ACE. He was Southern Regional Manager of ACE New Zealand from 1999 to 2001 before moving to Australia to become Southern Region Casualty Manager and later State Manager for ACE's Queensland operation. He was General Manager of ACE Thailand before returning to New Zealand in April 2005 to take up the position of Northern Regional Manager.

Mr. Pickering, who joined ACE in 1999 following the acquisition of CIGNA's international operations, has held the position of Managing Director of ACE New Zealand since November 2004. Prior to that position, he held a number of senior posts with ACE in the Asia Pacific Region, including assignments in Japan, Hong Kong, Australia, Philippines, Thailand and Indonesia.

In addition, ACE has appointed Brian Seach Non-Executive Chairman of ACE South Africa. Mr Seach was previously Chairman and Director at Glenrand Group, where he was responsible for the development of international operations. He has extensive knowledge of the South African insurance market, having worked in management positions within the industry for over 30 years, and served as Chairman of the South African Insurance Association.

"ACE's re-entry into the South African market is in response to the country's fast growing economy and in recognition of opportunities in the wider region," said Gary Schmalzriedt, Chairman and Chief Executive Officer, ACE Overseas General. "We are delighted to be able to rely on Scott's proven management abilities to establish ACE in the southern African region, and pleased that Michael's proven management strength will help us expand our successful New Zealand operation."

ACE Overseas General is the international property and casualty, accident and health, and Lloyd's operations of the ACE Group of Companies. The ACE Group 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.