Tomas Urbanec New Head of ACE International Personal Lines

February 12, 2004

Gary Schmalzriedt, Chairman and CEO of ACE Overseas General (AOG), announced that Tomas Urbanec has been named as Executive Vice President, International Personal Lines. AOG is a financial reporting unit of ACE Limited, which comprises the Company’s international property casualty and accident and health businesses and its Lloyd’s operations.

Urbanec will work with ACE’s regional management to create and implement the Company’s strategy for the continued development of personal lines business in Asia Pacific, Europe, Latin America and Japan. He will report directly to Ed Clancy, President and COO of AOG, and will be based in New York.

He brings more than a decade of experience in personal lines to his new position. Urbanec worked for over six years with Progressive Insurance and Travelers and for over four years with American International Group. He has been responsible for business development throughout South Asia, including Greece, Turkey, Egypt and Israel, as well as throughout Southeast Asia, including Hong Kong, Taiwan, Thailand and Malaysia.

“Tom’s breadth of international experience in both emerging and mature insurance markets will be important in expanding ACE’s existing personal lines operations and in establishing new operations in key markets,” Schmalzriedt commented. “Personal lines is a critical product line in the development of our consumer insurance business model and Tom’s expertise in this regard will be invaluable.”

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