News Releases

LONDON--(BUSINESS WIRE)--ACE European Group (NYSE:ACE) has today announced some changes to its Continental European country management with immediate effect.

Jeff Moghrabi is to assume the role of Country Manager for ACE France, replacing Olivier Muraire. Jeff moves to ACE’s Paris office from Milan where he was Manager for ACE in the Southern European region - encompassing Italy, Spain and the newly established Portuguese operation.

Maurizio Ferrario, currently Head of Strategic Development for ACE Italy, assumes the role of Deputy Country Manager and he will also manage ACE’s Italian operations until a new Country Manager is appointed. Angel Diaz, currently Property and Casualty Manager for ACE Spain, will become Country Manager for the Iberia region

Commenting on the changes, David Furby, President for Continental Europe, said, “Jeff brings a wealth of experience to his new role for ACE France, which is our single largest market in Continental Europe. In recent years ACE has enjoyed tremendous success in the French Market and I am confident that under Jeff’s leadership, ACE France will continue to build on this success.

“Maurizio Ferrario, who has been with ACE Italy since 2003, has been a key figure in the successful establishment of our new branch network and distribution platform in Italy. In his new position he will ensure the management transition is as smooth as possible.

“I am also delighted to announce the promotion of Angel Diaz to Country Manager for both Spain and Portugal. Our Portuguese operation opened earlier this year and is one part of our strategy to expand our geographical presence throughout the European region.

“Finally, I would like to take this opportunity to thank Olivier Muraire for his contribution to ACE France, under whose leadership, the French team has achieved excellent results and business growth.”

Notes to editors:

ACE

ACE European Group has established branch offices in 19 countries across Europe, Freedom of Services permission to provide insurance services to clients in 29 EEA countries and affiliates in Egypt, Bahrain, Pakistan and Russia.

ACE European Group comprises the operations of ACE Europe, ACE Global Markets and ACE Tempest Re Group. 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 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 atwww.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