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ACE LIMITED A GLOBAL PREFERRED STRATEGIC PARTNER Sprinklers from an Insurer’s perspective.

ACE LIMITED A GLOBAL PREFERRED STRATEGIC PARTNER Sprinklers from an Insurer’s perspective. Copenhagen 24 – 25, June 2008. 1. AGENDA. A brief introduction to ACE Insurance terminology Capacity calculations and the impact of automatic sprinklers. 2.

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ACE LIMITED A GLOBAL PREFERRED STRATEGIC PARTNER Sprinklers from an Insurer’s perspective.

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  1. ACE LIMITED A GLOBAL PREFERRED STRATEGIC PARTNER Sprinklers from an Insurer’s perspective. Copenhagen 24 – 25, June 2008 1

  2. AGENDA • A brief introduction to ACE • Insurance terminology • Capacity calculations and the impact of automatic sprinklers 2

  3. A BRIEF INTRODUCTION: WE ARE A NEW OLD COMPANY • 1985 – Established in Bermuda with six employees to provide • hard to place Excess Liability and D&O • 1996 – 1999 – Eight acquisitions to build global platform • including Lloyd’s syndicate 2488, Tempest Re, Westchester • Fire and in 1999 CIGNA’s global P&C operations. • 1999 - Acquisition of Insurance Company of North America, • established in Philadelphia in 1792. The oldest stock insurance • company in the United States • 2007 - Through acquisition and organic development we now have one of the few true global platforms, with over 10,000 employees operating in 50 countries 3

  4. A BRIEF INTRODUCTION: WE HAVE THE FINANCIAL STRENGTH YOU NEED 2006 • Net Written Premium $ 12 billion • Net Income $ 2.3 billion • Combined Ratio 88.1% • ROE 18.5% • Total Assets $ 71 billion • Book Value $ 15.2 billion • Financial Strength Rating A+ (S&P, AM Best) 30/6/07 4

  5. A BRIEF INTRODUCTION – FOOTPRINT: WE ARE IDEALLY POSITIONED TO SERVE OUR CUSTOMERS WORLDWIDE Austria Italy Bahrain Netherlands Belgium Norway Czech Republic Poland Denmark Portugal Egypt Saudi Arabia Finland South Africa France Spain Germany Sweden Gibraltar Switzerland Germany UK Hungary Ireland Europe & Middle East North America Bermuda Canada USA 58.4% of NWP 24.8% of NWP Latin America Argentina Brazil Chile Colombia Ecuador Mexico Peru Puerto Rico Asia Pacific Australia New Zealand China Pakistan Guam Philippines Hong Kong Singapore Indonesia Taiwan Korea Thailand Macao Vietnam Malaysia Far East Japan 5.5% of NWP 4.2% of NWP 7.1% of NWP • Admitted status in all of the world’s major markets 5 * NWP: Non-Life Insurance Premium (excludes Life & Reinsurance)

  6. A BRIEF INTRODUCTION: OUR BASIC STRUCTURE INSURANCE NORTH AMERICA INSURANCE OVERSEAS GENERAL GLOBAL REINSURANCE LIFE INSURANCE REINSURANCE DIRECT INSURANCE ACE USA ACE TEMPEST RE ACE INTERNATIONAL ACE GLOBAL MARKETS EUROPE ACE CANADA BERMUDA ACE EUROPE LATIN AMERICA ACE BERMUDA EUROPE ACE FAR EAST ASIA USA ACE ASIA PACIFIC ACE TEMPEST LIFE ACE LATIN AMERICA BERMUDA • Dedicated leadership at global, regional and country level • Matrix organization. Local business line management report to country/regional • heads and product line leaders • Execution is in country by local professionals USA 6

  7. OUR STRATEGIC DIRECTION: INTERNATIONAL • An organization focused on, and management aligned with a diverse customer base, product mix and geographical presence • Four key market segments: - Large/Multinational - Commercial Property & Casualty - Small/Middle Market – SME - Individual Consumers: Life, Accident & Health and Select Personal Lines • Growth will be organic and through opportunistic acquisitions or strategic partnerships that will add to our distribution, product or geographic mix • Pursue significant growth in Accident & Health, SME, Personal Lines and Life Insurance in all regions. 7

  8. OUR STRATEGIC DIRECTION (CON’T) • Maximize our opportunity in China and other emerging or developing markets • Continue to expand our geographic presence – India, Turkey, Panama • We will always be an “underwriting company”, proactive in our search for • opportunities across the globe but disciplined in our approach to underwriting 8

  9. InsuranceTerminology • Rate – price per insured unit, • Premium – total money paid for insurance, • Capacity – the total amount of risk, an insurance company can assume, • Lead insurer – defines terms and conditions, • Follow insurer – accepts T&C of lead insurer, • Re-insurance – that part of the risk that is not kept by the primary insurer, • Loss ratio – a ratio of dollar losses paid per dollar income, • Combined Ratio – a ratio that is the sum of the loss ratio, company and adjusters expense ratio • profit

  10. InsuranceTerminology • Amount Subject – Possible maximum loss, • PML – probable maximum loss, • Public Protection modifier – a combination of the public fire department and public water supply,( 1- 2.75) • Automatic sprinkler modifier,( 1 – 3) • Grade of Risk modifier – a management evaluation score ( 1- 2.5)

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