ACE USA, a subsidiary of ACE Limited (NYSE:ACL), announced today that it has formed a new division that will focus on the aviation industry. The new division marks the eighth that the fast-growing company has established this year.

Dennis Reding, President and Chief Executive Officer of ACE USA, said that the Aviation Division will concentrate on airport business, providing coverage in most lines of business needed by this market segment. Mr. Reding said the lines will include airport construction, manufacturers products and non-commercial aircraft.

"We are excited about this new operation, which continues our expansion into specialty areas within our industry," said Mr. Reding. "In addition, we are attracting highly experienced and knowledgeable industry professionals to lead our new areas of business development and Aviation is no exception. Stephen Dinsdale, an industry veteran with over 30 years experience, has joined our management team as Senior Vice President - Aviation.

"Stephen will report directly to me and will be based in New Orleans, the location of our newest office. Stephen will oversee staff based in our Los Angeles, Atlanta and New York offices."

Mr. Reding said that Mr. Dinsdale comes to ACE USA from Phoenix Aviation Managers, Inc. where he was head of the Airports and Special Risk Division. Mr. Dinsdale started his career with Comptoir General D'Assurance in Paris in 1964. He has worked for M.W. Joost & Company in Munich, Germany and the Insurance Company of Ireland. Mr. Dinsdale entered the aviation business with Bland Welch & Company Ltd. in London in 1966.

In 1969, Mr. Dinsdale came to the US and joined Southern Marine & Aviation Underwriters, Inc. In 1990, he was named Chairman and CEO of Americas Insurance Company and its parent, Southern Marine & Aviation Underwriters, Inc.

Mr. Reding added, "In addition to Mr. Dinsdale's appointment, I am pleased to announce the appointment of Clive Allen who has also joined the Aviation Division. In his capacity as Vice President, Clive will be located in the Glendale office with responsibilities for the west coast. He will report directly to Stephen Dinsdale."

Mr. Allen began his career in 1968 in the Marine Claims Department of the Lloyd's broker Glanvill Enthoven & Co. Ltd. (now part of the Jardine Lloyd Thompson Group) and transferred into the Aviation Claims Department in January of 1974. In August of 1974, Mr. Allen was invited to join Sedgwick Forbes Group in their Aviation Claims Department, before transferring to the placing side and eventually becoming an Assistant Director.

Mr. Allen was appointed to the position of Vice President at SMAU/Americas in 1986. In 1995, he joined Phoenix Aviation Managers, Inc. as Vice President, specializing in Airports and Helicopters risks prior to accepting his new position with ACE USA.

ACE USA has spent the majority of the year expanding its lines of business. When acquired by ACE Limited in January, the company wrote two lines (property and casualty). It has now established Specialty, Warranty, Directors & Officers, Errors & Omissions and Captive Reinsurance divisions.

The ACE Group of Companies provides insurance and reinsurance for a diverse group of international clients. Operating subsidiaries are based in Bermuda, the United States, the United Kingdom (Lloyd's) and the Republic of Ireland. At September 30, 1998, ACE Limited had approximately $8.8 billion in assets and $3.7 billion in shareholders' equity.

Contact Information

Media Contact:
Wendy Davis Johnson
ACE Limited
(441) 299-9347

Broker Contact
Jerry Wolk
ACE USA
(678) 441-5234