Bermuda insurance giant ACE Ltd. on Friday announced Dominic Frederico was appointed to its board of directors, effective immediately.

Mr. Frederico joined ACE as an executive vice president in the Financial Lines (now ACE Financial Solutions International) division in 1995.

In December 1996, he was appointed executive vice president, underwriting, and in July 1997 was made responsible for ACE's Bermuda-based insurance operations as president and chief executive officer.

ACE said Mr. Frederico will remain president and chief operating officer of ACE Ltd., in addition to his position of chairman and chief executive officer of ACE INA Holdings, Inc., the largest single subsidiary of ACE Ltd. Meryl Hartzband resigned from the company's board of directors, effective October 5, 2001. Ms. Hartzband, who is principal and investment director of MMC Capital, a subsidiary of Marsh & McLennan, resigned to devote more time to other commitments.

Brian Duperreault, chairman and chief executive officer of ACE Ltd. said: "I am delighted to welcome Dominic to the Board of Directors of ACE. ACE has benefited greatly from Dominic's leadership and we look forward to his participation on the ACE Board."

Mr. Duperreault added: "I want to publicly thank Meryl for her contribution to the Board of Directors of ACE Limited and wish her well in the future."

The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. For more information see http://www.acelimited.com.