Canter Named President of ACE Principal Finance

January 18, 2005

ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has announced the appointment of Michael Canter as president, ACE Principal Finance. Canter will lead a unit that underwrites portfolios of credit risk and assists ACE in hedging the financial and credit risks that arise from its insurance operations. ACE Principal Finance will remain a part of ACE Financial Solutions.

“Mike has made significant contributions to the results of ACE’s Financial Services segment, and I’m pleased to recognize his achievements with this new position,” said William Dove, president, ACE Financial Solutions.

Canter most recently served as executive vice president and managing director for ACE Financial Solutions. Prior to joining ACE in 2000, he was a senior vice president at AIG Risk Finance. Canter holds a bachelor of arts degree in economics and math from Northwestern University and earned a Ph.D. in finance from Columbia University Graduate School of Business.

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