office in Dublin, Ireland.

ACE Insurance Company Europe Ltd. (AICE) will provide the company with a platform for insurance and reinsurance operations in Europe, chairman, president and chief executive officer Brian Duperreault stated in a press release yesterday.

"Following the grant of a licence by the Department of Enterprise and Employment, AICE is now permitted to write all 18 classes of non-life insurance in all member states of the European Union,'' Mr. Duperreault said.

AICE will be managed by Mark Kealy, who has been named as general manager. The new subsidiary will focus on writing business in Western Europe, the Nordic countries, and later in Central and Eastern Europe.

ACE is in the processs of purchasing US-based Westchester Specialty Group. It also acquired Bermuda-based property catastrophe reinsurer Tempest Re, three Lloyd's syndicate managing agencies, and took an 11 percent stake in financial guaranty insurance company CGA Ltd., and is part of a joint venture with EXEL Ltd. and Risk Capital Reinsurance Co. in Sovereign Risk Insurance Ltd.

"With the recently proposed acquisition of the US-based Westchester Specialty Group, ACE now has a strategic trans-Atlantic reach that well-positions the company for continued futre growth,'' Mr. Duperreault said.