News Releases

LONDON--(BUSINESS WIRE)--Aug. 16, 2006--ACE (NYSE:ACE) announced today that Giles Ward has been appointed Director of ACE's operations in the Middle East and North Africa region (MENA), effective from September 16th. Mr Ward will be based in the newly established regional head office in Bahrain and will report to Andrew Kendrick, Chairman and Chief Executive Officer of ACE European Group. 
 

Mr Ward joins ACE from AXA Affin General Insurance Bhd in Malaysia where he was President/CEO since 2001. He has worked in the insurance industry for over 17 years, 12 of which he has been based in South East Asia, so he has a very good understanding of the dynamics of operating across countries as culturally diverse as Malaysia, Thailand, the Philippines and Indonesia.

"We welcome Giles to the ACE organisation," said John Keogh, Chief Executive Officer of ACE Overseas General. "Giles brings with him considerable international experience of managing an insurance company in emerging markets. He will have key responsibility for the implementation, coordination and delivery of our business expansion plans, both in existing operations and the development of new accident and health and property and casualty business opportunities.

"Giles joins ACE at an exciting time for the company as we expand our presence in the MENA region and look for further opportunities in the Gulf Cooperation Council (GCC) countries. ACE has had a presence in countries such as Saudi Arabia and Pakistan for over thirty years and set up life and non life operations in Egypt in 2001. Our new Bahrain office demonstrates ACE's commitment to the MENA region and strengthens our ability as a truly global organisation."

Note to Editors

The ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Group. With an established presence in 16 countries across Europe and Freedom of Services permissions to operate in 27 European countries, 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 UK registered company 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