ACE Limited Announces Earnings Guidance For 2007

Hamilton, Bermuda: December 07, 2006 -- ACE Limited

(NYSE:ACE) announced today the following earnings guidance for the ACE

Group of Companies for the full year 2007:

    --  Earnings per Common Share are expected to range between   $6.65

        and $7.15; our current forecast is at the midpoint of this

        range

    --  Property & Casualty Net Earned Premium Growth is expected to

        average from 3% to 5%

    --  Catastrophe Losses included in our estimated earnings are $450

        million pre-tax ($340 million after-tax)

    Philip V. Bancroft, Chief Financial Officer, ACE Limited,

commented: "We have refined our earnings guidance policy for 2007,

moving from a components-based worksheet approach to a range of EPS estimates with assumptions for revenue growth and estimated CAT losses. We believe that this new policy is more direct and provides greater clarity to our annual estimates. We believe this guidance, along with our quarterly earnings discussions and comprehensive disclosure in our Financial Supplement, equips the financial community with tools to make reasonable estimates of ACE's financial performance."

The ACE Group of Companies is a global leader in insurance and

reinsurance serving a diverse group of clients. Headed by ACE Limited,

a component of the Standard & Poor's 500 stock index, the ACE Group

conducts its business on a worldwide basis with operating subsidiaries

in more than 50 countries. Additional information can be found at:

www.acelimited.com.

    Cautionary Statement Regarding Forward-Looking Statements:

    Any forward-looking statements made in this press release reflect

the Company's current views with respect to future events and

financial performance and are made pursuant to the safe harbor

provisions of the Private Securities Litigation Reform Act of 1995.

Such statements involve risks and uncertainties, which may cause

actual results to differ materially from those set forth in these

statements. For example, the Company's forward-looking statements,

such as its earnings guidance, could be affected by competition,

pricing and policy term trends, the levels of new and renewal business

achieved, market acceptance, changes in demand, the frequency and

severity of catastrophic events, actual loss experience, uncertainties

in the loss reserving and claims settlement process, new theories of

liability, judicial, legislative, regulatory and other governmental

developments, litigation tactics and developments, investigation

developments, the amount and timing of reinsurance recoverables,

credit developments among reinsurers, changes in the cost or

availability of reinsurance, market developments, rating agency

action, possible terrorism or the outbreak and effects of war and

economic, political, regulatory, insurance and reinsurance business

conditions, as well as management's response to these factors, and

other factors identified in the Company's filings with the Securities

and Exchange Commission. Readers are cautioned not to place undue

reliance on these forward-looking statements, which speak only as of

the dates on which they are made. The Company undertakes no obligation

to publicly update or revise any forward-looking statements, whether

as a result of new information, future events or otherwise.