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ACE Insurance commits to South Island

2 February 2005

ACE Insurance commits to meeting the escalating needs of the South Island business community with new Christchurch office

ACE Insurance, a leader in the global insurance and reinsurance industry, has today announced that it will be opening an office in Christchurch on 22 February 2005 to better meet the needs of the South Island business community.

Cantabrian Simon Foley, a senior underwriter with ACE, will lead the South Island team. Simon has worked in the insurance industry for over 20 years and has a level of underwriting authority, integrity and competency which is second to none. To date he has been responsible for ACE’s Central and Southern commercial business (which covers the South Island) and is looking forward to moving back home and helping lift the standard of service in the insurance industry in the South Island.

“Brokers tell us they want a quick decision on their underwriting and risk submissions. They want their insurance provider to give them a price, and get their cover in place as quickly as possible.” says Simon.

“What we are doing is taking the core competencies we have in Wellington and Auckland in order to deliver a great service to our brokers in the South Island. I will be in a position to make decisions on the ground and get cover in place quickly and will be meeting with brokers throughout the South Island on a frequent basis to ensure we continually meet their needs.”

ACE has operations in over 50 countries globally and has the ability to transact business in over 90 jurisdictions. It is listed on the New York Stock Exchange (symbol ACE). ACE has been operating in New Zealand for five years although its roots here date back to the 1920’s. ACE offers broker-based corporate and commercial, property and casualty business, group personal accident and corporate travel products tailored to clients’ needs. New Zealand clients range from small businesses through to corporates and multinational concerns.

Scott Pickering, Managing Director of ACE Insurance New Zealand says that the opening of the Christchurch office underscores ACE’s ongoing commitment to meeting the needs of the South Island broker and business communities.

“The New Zealand business climate dictates that this is absolutely the right time to commit to the South Island. With Simon’s local expertise I have every confidence that he and his team will successfully establish a strong South Island presence while designing, and putting in place, insurance products which meet the needs of our client base.”

Additional information can be found at www.acelimited.com or at www.aceinsurance.co.nz

ENDS

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