News Releases

NEW YORK--(BUSINESS WIRE)--April 17, 2006--The ACE Group of Companies announced today that John Keogh has been appointed Chief Executive Officer of ACE Overseas General, the company's international property and casualty insurance organization. ACE Overseas General is one of ACE's principal divisions, and comprises two companies, ACE International and ACE Global Markets. ACE International includes four regional operating units, ACE European Group, ACE Asia Pacific, ACE Latin America and ACE Far East, while ACE Global Markets is the company's London-based international excess and surplus lines business. 
 

Mr. Keogh joins ACE from American International Group (AIG), where he served for more than 20 years, most recently as Senior Vice President, Domestic General Insurance, and President and Chief Executive Officer of National Union Fire Insurance Company, AIG's member company that specializes in directors and officers liability and fiduciary liability coverages. Mr. Keogh joined AIG in 1986, and he has served in a number of senior positions there, including as Executive Vice President of AIG's Domestic Brokerage Group, and as President and Chief Operating Officer of AIG's Lexington Insurance Company unit.

Mr. Keogh succeeds Gary Schmalzriedt, who will remain as Chairman of ACE Overseas General until October 1, when he will retire. Mr. Schmalzriedt will support Mr. Keogh during this transition.

"We welcome John to the ACE organization," said Evan Greenberg, President & Chief Executive Officer, ACE Limited. "John brings substantial management and underwriting expertise gained through his many years in the industry. We have a strong, internationally experienced management team globally that will complement John's leadership skills. More than half of ACE's property and casualty business comes from outside the United States, and John will be responsible for this valuable international franchise that is a major factor in distinguishing our company.

"On behalf of all my ACE colleagues and our Board of Directors, I want to extend our sincere appreciation to Gary Schmalzriedt, who helped ACE become the successful company it is today. Gary is a highly experienced insurance professional and trusted executive, whose wisdom and character have contributed greatly to the foundation of our company."

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.