The Philadelphia-based members of ACE INA, a part of the ACE Group of Companies, yesterday announced that Dominic J. Frederico, chairman of ACE INA Holdings Inc., will receive the 2003 Franklin Award from the Philadelphia Chapter of the Chartered Property Casualty Underwriter (CPCU) Society.

Mr. Frederico will be the 21st recipient of the award for his leadership; work in advancing professionalism; continuing insurance education; innovations within the industry; and contributions to the community.

Pennsylvania Governor Edward G. Rendell will be the keynote speaker at a special luncheon at the DoubleTree Hotel in Philadelphia on March 13, 2003, honouring Frederico.

"CPCU Philadelphia is pleased to honour Mr. Frederico for motivating his employees to pursue continuing insurance education," said Valerie Ullman-Katz, immediate past president of CPCU Philadelphia and chairman of the Franklin Award selection committee. "As one of the most respected and admired insurance executives, Dominic's commitment to supporting the communities where ACE employees live and work has positively impacted the lives of others."

Mr. Frederico joined ACE in 1995 as executive vice president, Financial Lines (now ACE Financial Solutions International) of ACE Bermuda Insurance Ltd. (ACE Bermuda). I

In December 1996, he was appointed executive vice president, Underwriting, ACE Bermuda, and in July 1997 was made president and chief executive officer of ACE Bermuda.

Mr. Frederico oversaw the successful acquisition and integration of the domestic and international property casualty operations acquired by ACE from CIGNA Corporation in July 1999.

Prior to joining ACE, Mr. Frederico spent 13 years working for various subsidiaries of the American International Group (AIG), most recently as senior vice president and chief financial officer of AIG Risk Management.