News Release

ACE Tempest Re Announces Executive Appointments
Jun 15, 2007

HAMILTON, Bermuda--(BUSINESS WIRE)--ACE Tempest Re Group, the reinsurance division of the ACE Group of Companies, announced today a series of executive appointments in its Bermuda, Europe and U.S. operations.

Andreas Lewin, President and Chief Executive Officer, ACE Tempest Re Bermuda, has been appointed Deputy Managing Director, ACE Tempest Re Europe. Reporting to Matthew Shaw, Managing Director, ACE Tempest Re Europe, Mr. Lewin will serve as the deputy head of ACE Tempest Res operations throughout Europe and will relocate to London.

David Drury, Senior Vice President and Chief Risk Officer for the ACE Tempest Re Group, has been appointed Chairman and Chief Executive Officer of ACE Tempest Re Bermuda and President and Chief Executive Officer of ACE Tempest Life Re, the Bermuda-based life reinsurance business of the ACE Group of Companies. In his role with ACE Tempest Re Bermuda, Mr. Drury will continue to report to Jacques Bonneau, President and Chief Executive Officer, ACE Tempest Re Group, and he will provide overall property catastrophe modeling and capital allocation oversight. In his role with ACE Tempest Life Re, Mr. Drury will report to Ari Lindner, ACE International Life, and will be responsible for the operating results and direction of this unit.

Erin Anderson, Senior Vice President and Chief Underwriting Officer for U.S. Property Catastrophe, ACE Tempest Re Bermuda, has been appointed President and Chief Operating Officer of ACE Tempest Re Bermuda. Ms. Anderson will oversee all operating aspects of ACEs Bermuda-based property and casualty reinsurance business, including underwriting, finance, claims and administration. She will report to Mr. Bonneau and will be assisted by Mr. Drurys oversight.

Brock Webel, Senior Vice President and Chief Underwriting Officer for Specialty Trading, ACE Tempest Re Bermuda, will assume the chief underwriting responsibilities for the U.S. Property Catastrophe business. Mr. Webel will report to Ms. Anderson.

Paula Lewin, Vice President and U.S. Property Catastrophe Underwriter, ACE Tempest Re Bermuda, has been appointed Senior Vice President and Chief Underwriting Officer, with responsibility for running the Specialty Trading Desk. Ms. Lewin will report to Ms. Anderson.

Giuseppe Russo, Senior Vice President and Chief Actuary, ACE Tempest Re USA, has been appointed Senior Vice President and Chief Risk Officer for ACE Tempest Re Group. Mr. Russo will report to Mr. Bonneau and will relocate from Stamford, Connecticut, to Bermuda.

Ron Nelson, Vice President, ACE Tempest Re USA, has been appointed Senior Vice President and Chief Actuary of ACE Tempest Re USA. He will now report to James Wixtead, Chief Executive Officer, ACE Tempest RE USA.

The appointments are subject to Bermuda Immigration and other regulatory approvals.

Mr. Bonneau commented on the appointments: We are delighted to make these executive announcements and draw exclusively upon the deep bench strength of the ACE Tempest Re organization. These appointments demonstrate the opportunity for growth that exists within our organization and our commitment to develop our people as leaders and senior managers.

For Andreas, this new assignment in London will serve as another milestone and executive development opportunity in his distinguished career and will continue our efforts to share our best management talent across the company.

For David, this new dual assignment for both property and casualty reinsurance and life reinsurance recognizes his track record of accomplishment at ACE and his ability to provide management oversight for an even wider range of duties.

We are pleased to promote Erin to President and Chief Operating Officer of ACE Tempest Re Bermuda. She has demonstrated strong success in managing our U.S. property catastrophe book and is ready to take on the operating challenges of the entire portfolio.

We are also excited by Brock, Paula, Giuseppe and Ron taking on new roles and responsibilities within the group. I have every confidence in their future success and continued contribution to the ACE Tempest Re Group.

The ACE Tempest Re Group is headquartered in Bermuda and oversees the reinsurance operations within the ACE Group of Companies. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poors 500 stock index, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. The ACE Group conducts its business on a worldwide basis through operating subsidiaries in approximately 50 countries. Additional information about the ACE Tempest Re Group can be found at www.acetempestre.com.

 

Contact:

ACE Group of Companies
Robert T. Grieves, 212-827-4444
robert.grieves@ace-ina.com