John Charman To Leave ACE

March 20, 2001

Bermuda’s ACE Ltd. announced that one of its top executives, John Charman, who was recently named group president and chief executive officer of the ACE International Group, was leaving the company.

“This development occurred as a result of differences between us over personnel matters, ” said Brian Duperreault, ACE Chairman and CEO. Charman, who was appointed to head the reorganized Group last February, had won praise for his successful efforts in restructuring ACE’s presence in the Lloyd’s market, where it has become one of the major underwriters controlling several large syndicates.

Duperreault indicated that ” with the departure of Mr. Charman, the president and chief executive officer of each of the business units comprising the ACE International Group will report directly to him.” He expressed confidence in the depth and experience of his executive team.

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