Evan G. Greenberg Elected Chief Executive Officer Of Ace Limited

Duperreault, Chairman of ACE Limited (NYSE:ACE) announced today that the Board of Directors has elected Evan G. Greenberg, President of ACE

Limited, to the additional position of Chief Executive Officer, effective on the date of the ACE annual meeting, May 27, 2004.

Mr. Duperreault, who has been Chairman and Chief Executive Officer since 1994, will remain as Chairman.

The Board is implementing an orderly succession plan for ACE Limited, consistent with Brian Duperreault's desire to reduce his

executive responsibilities.

Mr. Duperreault commented: "Evan has truly earned the right to run ACE during this next phase of its growth and development. He

distinguished himself very quickly when he assumed the leadership of our global reinsurance operations in November 2001 and brought that

company to record profitability. Evan did it again in early 2002 when his executive responsibility was expanded to include all of ACE's international operations and, finally, Evan has done an outstanding job running ACE on a day to day basis as its Chief Operating Officer

since June of 2003. Evan works harder, longer and more effectively than almost any man I know. He is the right person to lead ACE in the next generation."

Robert M. Hernandez, Chairman of the Nominating and Governance Committee, speaking on behalf of the Board of Directors said: "During

Brian's ten-year tenure as CEO, ACE has evolved from a specialty property and casualty insurance company writing $386 million in net premiums annually to a globally diversified insurance and reinsurance group writing over $10 billion in premiums. Brian presided over successful acquisitions and as a result of subsequent organic growth, ACE was able to double its net premiums written over the most recent three-year period. ACE Limited recently reported record net income of $1.4 billion for the year ended December 31, 2003. For these formidable achievements, we want to thank Brian for his outstanding leadership."

ACE Limited (NYSE:ACE) will host a conference call and webcast to discuss this succession plan on Thursday, March 11, 2004 beginning at 3:00 p.m. EST. The call will be available via live and archived webcast at http://www.acelimited.com or by dialing 1-973-582-2745.

Please refer to our website in the "Investor Information, Calendar of Events" for details. A replay of the call will be available from

Thursday, March 11, 2004 until Thursday, March 25, 2004 at 5:00 p.m. EST. To listen to the replay, dial: 1-877-519-4471 (in the United States) or 1-973-341-3080 (international);

passcode 4597886.

The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. A component of the Standard & Poor's 500 stock index, The ACE Group conducts its business on a worldwide basis with operating subsidiaries in approximately 50 countries. Additional information can be found at:

http://www.acelimited.com.