ACE Receives Investors in People Recognition
Official award presented by The Hon. Terry Lister, JP, MP, Minister of Education

HAMILTON, Bermuda - 15 February 2005 – The ACE Group of Companies in Bermuda received formal recognition of their successful attainment of Investors in People standard at a presentation last week. The Hon. Terry Lister, JP, MP, Minister of Education, presented the official Investors in People plaque and flag to Evan Greenberg, President and Chief Executive Officer of ACE Limited, at a company meeting at ACE’s Global Headquarters in Hamilton.

The Investors in People accreditation officially recognizes ACE’s attainment of the Investors in People (IiP) Standard. Launched in 1991 by the UK Government, the IiP Standard has developed into an internationally recognized quality standard that identifies an organization as a leader in the management and development of its people.

“I am delighted to accept the Investors in People award on behalf of The ACE Group,” said Evan Greenberg. “This achievement not only reflects the steps that ACE has taken over the past 18 months to enhance the development opportunities available to our employees, but also indicates our continued commitment to personal and professional growth, which in turn drives a high performance business culture.”

“Attainment of the Standard acknowledges ACE’s continued commitment to the development of our most important assets – our employees” added Pandora Wright, Director of Human Resources at ACE Limited and Investors in People Project Manager. “Investors in People has enabled us to benchmark ACE’s practices against an internationally recognized standard and has provided us with a framework for setting and communication business objectives and developing our employees to meet those objectives.”

The IIP Standard establishes best practices through which a company can improve and maintain its performance through the development of its employees. To achieve the Standard, employers must meet four key principles of good practice:

• Commitment - Commitment to invest in employees to achieve business goals
• Planning - Plan how skills, individuals and teams are to be developed to achieve these goals
• Action - Take action to ensure training and develop needs are met and tied to business objectives
• Evaluation - Evaluate the outcome of training and development and the impact on the individual, team and organisation.

The ACE Group in Bermuda joins a group of Bermuda companies that have already incorporated the international Investors in People Standard, which include:

• Aberfeldy Nurseries Limited
• Astwood Dickinson Company Limited
• Continental Motors Limited
• Esso City Auto Market
• HWP Group
• Veney Group of Companies
• B F & M Insurance Group
• Oil Management Services Limited
• The Argus Group
• Rosedon Hotel

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 nearly 50 countries. Additional information can be found at www.acelimited.com.

Investors in People is an internationally recognized quality standard that establishes a level of good practice for training and developing employees so they may achieve their business goals. The standard was developed during 1990 by the British Government's National Training Task Force in partnership with leading national business, personnel, professional and employee organisations and launched in 1991. Investors in People Bermuda was incorporated in June 2000 as a not for profit organisation responsible for promoting Investors in People and maintaining the quality and integrity of the standard throughout Bermuda. Additional information can be found at www.iipuk.co.uk.