WASHINGTON (Dow Jones) ? ACE Ltd. disclosed yesterday it has fired another employee as a result of an internal investigation, according to the company?s first-quarter report filed with the Securities and Exchange Commission.

The Bermuda-based company said it has now terminated three employees, one who had pleaded guilty to a misdemeanour, and suspended two other employees as a result of its internal investigation.

ACE had previously disclosed in its annual report filed in March that it terminated two employees, one of whom pleaded guilty to a misdemeanour, and suspended three other employees last November as a result of its investigation.

A company spokesman declined to disclose yesterday the name of the most recently fired employee, but said one of three employees suspended in November was fired in the first quarter. The spokesman didn?t provide any further details about the third termination.

ACE has been conducting an internal investigation as a result of New York Attorney General Eliot Spitzer?s bid-rigging probe in the insurance industry. The company said in its recent quarterly report that the internal investigation is being conducted by a team from the firm of Debevoise & Plimpton LLP, is headed by former US Attorney Mary Jo White and operates under the direction of the company?s audit committee.

The audit committee has retained special outside counsel Cleary Gottlieb Steen & Hamilton as its adviser, the filing from yesterday said.

Last November ACE fired two workers, including ACE Casualty Risk President Geoffrey Gregory, and took other steps to improve business practices, as a result of Spitzer?s probe.

ACE also said last November it fired Patricia Abrams, who previously pleaded guilty to criminal misdemeanour charges of bid rigging. Abrams was an assistant vice president in ACE?s excess casualty unit and is cooperating with investigators.

The insurer also said last November that the three suspended employees worked at ACE Casualty Risk and were part of a team within the excess casualty unit that did business mainly with Marsh & McLennan Cos.? (MMC) Marsh Global Broking.

ACE had said the personnel decisions resulted from improper actions, managerial issues and failure to cooperate with an internal probe or the attorney general?s investigation.