News Release

ACE Bermuda Announces Executive Appointments
Apr 16, 2010

HAMILTON, Bermuda--(BUSINESS WIRE)--ACE Bermuda today announced the appointment of Judy Gonsalves to Executive Vice President. Ms Gonsalves will continue to head up ACE Bermuda’s Excess Liability department with responsibility for management and development of ACE Bermuda’s and ACE Bermuda International’s book of business. She reports to Rees Fletcher, President and Chief Executive Officer of ACE Bermuda.

In addition, Allison Towlson has been appointed Regional Executive and Chief Operations Officer reporting to Rees Fletcher. In this expanded role Ms Towlson will be responsible for underwriting operations and enhancing the efficiency of the day-to-day operations of the company. She will maintain her previous role as Regional Executive with responsibility for client relationships, business development, and management of the underwriting services function.

“These appointments acknowledge Judy and Allison’s accomplishments, leadership and success within the ACE organization,” commented Rees Fletcher. “Judy has been instrumental in driving the success of our excess liability business and in implementing best practice standards for ACE in the industry. Allison’s underwriting and management experience combined with her in-depth understanding of ACE’s capabilities and knowledge of the Bermuda insurance industry, make her perfectly suited to take on this expanded role. I am confident that both Judy and Allison will play a significant role in positioning ACE Bermuda for future growth.”

Ms Gonsalves has 20 years of experience in the insurance industry. She joined ACE Bermuda’s Excess Liability department in 1992 and was appointed Vice President of the Underwriting Services department in 1997. In 2001, she returned to the Excess Liability department as senior casualty underwriter and was appointed Senior Vice President in 2004. Ms Gonsalves holds a Bachelor of Arts degree in economics from Emory University, Atlanta, Georgia and is an Associate of the Chartered Insurance Institute (ACII).

Ms Towlson has over 20 years experience in the insurance industry. She joined ACE Bermuda’s Excess Liability department in 1998 and was appointed ACE Bermuda Regional Executive in 2004 with responsibility for business development and underwriting support services. Prior to joining ACE she spent seven years with Sedgwick Global Broking (Bermuda) where she handled casualty and D&O accounts for Fortune 1000 clients. Ms Towlson is an Associate of the Chartered Insurance Institute (ACII) and a Chartered Insurer. In March 2010 she was appointed chair of the Insurance Development Council (IDC) with responsibility for enhancing Bermuda's market presence.

Celebrating 25 years of insuring progress, the ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. ACE Bermuda is a Bermuda-based subsidiary of ACE Limited and offers high-level excess liability, property and professional lines insurance products and services through Bermuda and non-US based intermediaries. Additional information can be found at www.acebermuda.com.

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Contact:

ACE Bermuda
Media Contact:
Amy Shillingford, Bermuda Communications, 441-299-9365
amy.shillingford@acegroup.com