ACE USA Announces Executive Appointments

April 13, 2004

ACE USA, a member of The ACE Group of Companies, announced key changes to the ACE USA business operations. The following appointments take effect immediately:

John Lupica, president, ACE Professional Risk, has been appointed to the additional position of president, ACE USA Regional Operations. In this role, Lupica will have the responsibility to continue to drive distribution strategies with brokers on a national as well as a regional basis; and expand our product and marketing approach to local distribution sources. ACE Professional Risk offers the following product lines: Directors & Officers (D&O); Errors & Omissions (E&O); Surety; Fidelity; Medical Risk; and Professional Risk Programs.

Ed Zaccaria has been named president, ACE Specialty Products, a new business unit which will focus on developing and growing ACE’s commercial specialty product lines including: Airports; Satellites; Global Weather; Power and Utilities; Global Terrorism; Kidnap & Ransom; and other specialty commercial products. This new business unit will focus on growing these products while also expanding the ACE USA portfolio of products in the specialty commercial markets. Additionally, Zaccaria will continue in his role as president, ACE US International.

Mark Lima has been appointed executive vice president and chief operating officer, ACE US International. The ACE US International business specializes in global property casualty and marine coverages for a broad range of mid- to large-sized companies. Product lines include: Foreign Casualty; International Advantage; Global Solutions (captives); Global Property; Commercial Marine; and marketing of Global Terrorism and Kidnap & Ransom. Lima joins ACE USA from ACE Financial Solutions International where he was executive vice president, underwriting. Lima brings with him a wealth of insurance experience including 14 years with ACE in Bermuda.

James W. Macdonald has been elevated to the position of executive vice president and chief underwriting oofficer for ACE USA. Macdonald has more than 30 years of insurance industry experience and is an experienced consultant, author and public speaker. He joined ACE in September 2001 as senior vice president and chief underwriting officer with ACE Risk Management and was appointed senior vice president, Underwriting for ACE USA in 2002.

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