ACE European Markets Launches Two New Divisions

March 25, 2003

ACE European Markets announced the launch of two new divisions: ACE Financial Solutions Europe, a division of ACE European Markets Insurance Limited (AEMI), located in London, and ACE Financial Solutions Reinsurance Europe, a division of ACE European Markets Reinsurance Limited (AEMR), located in Dublin.

“The new divisions will provide customized, non-traditional finite insurance and reinsurance products to European based customers, such as those currently available from ACE Financial Solutions International, Ltd., a Bermuda-based member of the ACE Group of Companies,” said the bulletin.

“The establishment of these two divisions is another step in ACE Financial Solutions International’s drive to make its non-traditional finite insurance and reinsurance products available to buyers globally,” stated Pierre Samson, President & CEO of ACE Financial Solutions International, Ltd. “Europe is an important and growing market for financial solutions. ACE Financial Solutions Europe and ACE Financial Solutions Reinsurance Europe are now able to provide a vehicle for European customers to more readily access the ACE Financial Solutions International products and services.”

The company also announced the appointment of Guy Swayne as President of the new divisions. Swayne, who joined the ACE Group in January 2000, is now responsible for the development of ACE’s financial solutions business in Europe. Prior to joining the ACE Group, he held various insurance industry positions, including as a broker in Bermuda and New York and as an underwriter in the Lloyd’s market. “Expanding Guy’s responsibilities to include the development of financial solutions business throughout Europe is a further step toward ACE Financial Solutions International’s goal of expanding its geographic reach,” Samson commented.

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