ACE Ltd. chief accounting officer Robert A. Blee has been named to the newly appointed post of chief compliance officer in a move the top insurer said demonstrated its commitment to integrity and financial transparency.

This new role will include responsibility for monitoring and enhancing ACE's internal controls on a global basis, assuring compliance with the Sarbanes-Oxley Act and other new reporting and disclosure requirements.

ACE chairman and chief executive officer Brian Duperreault said: "In the wake of the many accounting and governance scandals in other industries, there is a need to place an even greater emphasis on internal control systems, and to pay close attention to new disclosure and reporting requirements.

"It is very important for us to run all of our companies with the utmost integrity and financial transparency. By naming such a highly respected and senior executive as Robert to this new position, we are demonstrating our full commitment to addressing these issues."

Mr. Blee will retain his title and responsibilities as Chief Accounting Officer until a suitable replacement can be found.