ACE Overseas Appoints Peter Seymour Sr.VP-Marine

February 24, 2004

Gary Schmalzriedt, Chairman and CEO of ACE Overseas General (AOG), announced the promotion of Peter Seymour to the post of Senior Vice President, Marine for AOG, with responsibility for all of ACE’s marine business outside the U.S.

AOG is a financial reporting segment of ACE Limited and comprises the Company’s international property casualty and accident and health businesses and its Lloyd’s operations.

Seymour will be based in London and will report directly to Schmalzriedt. He will focus on profitably growing AOG’s marine business and will be in charge of assuring that ACE implements best practices on a global basis.

Seymour has over 25 years working in marine insurance. He joined ACE in September 2001 as Director of Marine Underwriting for the ACE European Group, with responsibility for marine underwriting in ACE Global Markets, ACE’s UK marine portfolio, and ACE’s European operations. In his new role, he will continue to be responsible for the marine business written through the ACE European Group and continue to chair ACE’s Global Marine Product Board, working closely with marine managers throughout ACE’s global marine operations.

“I’m very pleased to appoint Peter to this post,” Schmalzriedt commented. “He brings with him significant experience in the marine business and has proven his abilities with us at ACE since he joined us three years ago. I’m sure Peter’s strong leadership and robust experience in marine underwriting will serve him well and be pivotal in developing further our global marine business.”

Prior to joining ACE, Seymour worked for a syndicate in Lloyds, which he joined in 1999. He also worked for CIGNA as Director of Marine Cargo for the company’s U.K. operations. He had previously worked at AXA for 12 years, and Royal Insurance for 9 years, and is an associate in the UK Chartered Insurance Institute (ACII).

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