ACE Insurance Appoints NZ Property Manager

FOR IMMEDIATE RELEASE

ACE Insurance Appoints New Zealand Property Manager

Auckland,– 23 November 2006 – ACE Insurance, a part of the ACE Group of Companies, a global leader in insurance and reinsurance, has appointed Paul Martin to the position of New Zealand Property Manager.

Paul has worked for ACE Insurance since early 2003 as Queensland’s Property Underwriting Manager. He will be relocating from ACE’s Brisbane office to Auckland in January 2007.

Prior to joining ACE, Paul worked as a Senior Property and Casualty Underwriter for Gerling.

ACE Insurance Limited (New Zealand) is a member of the ACE Group of Companies, a global leader in insurance and reinsurance. Headed by ACE Limited, a component of the Standard & Poor’s 500 stock index, the A+ financial strength rating by both Standard & Poor’s and AM Best are indicative of ACE’s strong capital base and financial stability, key attributes in the business of risk. With a history dating back to 1792, the members of the ACE Group of Companies have offices in more than 50 countries and a strong presence in Asia Pacific.

ACE has been operating in New Zealand for six years although its roots date back to the 1920’s. ACE offers broker-based corporate property and casualty business, group personal accident and corporate travel products. In each area of specialty, ACE leverages global expertise with local acumen to create specific solutions to mitigate client risks. With a focus on building strong relationships by offering responsive service, ACE New Zealand’s clients range from large multinational companies to local corporates.

Additional information can be found at www.aceinsurance.co.nz

ENDS

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