News Releases

ZURICH--(BUSINESS WIRE)--ACE Limited (NYSE:ACE) announced today that Eugene B. Shanks, Jr. and Michael P. Connors were elected to its Board of Directors by the company’s shareholders at the ACE Limited Annual General Meeting held on May 18, 2011.

Mr. Shanks, who has joined as a member of the ACE Limited Board’s Risk and Finance Committee, is a member of the Board of Directors of Federal Home Loan Mortgage Corporation, chairing its compensation committee and serving on its executive committee and business and risk committee. He was President and Chief Executive Officer of NetRisk, Inc., a risk management software and advisory services company he founded, from 1997 until its sale in 2002. Over a 20-year career with Bankers Trust New York Corporation and Bankers Trust Company, Mr. Shanks held a variety of management positions, including head of Global Markets from 1985 to 1992 and President and Director from 1992 to 1995. He is also a trustee of Vanderbilt University, a member of the Advisory Board of the Stanford Institute for Economic Policy Research, a director of NewPower Holdings, Inc., and a founding director of The Posse Foundation.

Mr. Connors, who has joined as a member of the ACE Limited Board’s Compensation Committee, has been Chairman of the Board and Chief Executive Officer of Information Services Group, Inc., a technology insights, market intelligence and advisory services company that he founded, since 2006. He served as a member of the Executive Board of VNU N.V., a worldwide media and marketing information company, and as Chairman and Chief Executive Officer of VNU Media Measurement & Information Group and Chairman of VNU World Directories until 2005. He previously was Vice Chairman of the Board of ACNielsen from 1996 until 2001, Senior Vice President of American Express Travel Related Services from 1989 until 1995 and, prior to that, a Corporate Vice President of Sprint Corporation. Mr. Connors is currently a director of Eastman Chemical Company.

Evan Greenberg, Chairman and Chief Executive Officer of ACE Limited, commented: “We are delighted to have Michael Connors and Eugene Shanks join the ACE Board of Directors. Both of these executives have deep corporate leadership experience and impressive records of accomplishment in distinctly different industries. I’m confident both gentlemen will provide wise counsel and advice and will make significant contributions to the governance of ACE.”

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), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries and customers in more than 170 countries. Additional information can be found at:www.acegroup.com.