HAMILTON, Bermuda, February 19, 2002 - ACE Limited (NYSE: ACE) announced today that Randi Cigelnik, General Counsel, ACE Bermuda, ACE Tempest Reinsurance Ltd. (ACE Tempest Re) and ACE Financial Solutions International (ACE FSI), has been appointed to the newly created position of General Counsel for ACE Europe and ACE Global Markets.
Chairman and Chief Executive Officer of ACE Limited, Brian Duperreault, said that Ms. Cigelnik has played an integral role in managing the strategic development of ACE's Bermuda-based insurance and reinsurance companies.
"ACE has come to place a high value on Randi's good judgment and expert advice," said Mr. Duperreault. "She's been a key team member in the growth of our finance-based risk solutions business as well as in the diversification of our reinsurance book. I'm delighted to be able to provide her with this opportunity to continue her own professional development while also contributing to ACE's growth as a premier global organization."
Ms Cigelnik, who was recently promoted to Executive Vice President, joined ACE in October 1995 as Vice President in the newly established Financial Lines Division at ACE Bermuda. In October 1998, she was promoted to Senior Vice President, serving as General Counsel and Secretary. Currently, Ms. Cigelnik also serves as General Counsel and Secretary for ACE Tempest Re and ACE FSI and provides legal support to ACE Limited.
Ms Cigelnik will report directly to Gary Schmalzriedt, President and Chief Executive Officer of ACE Europe and ACE Global Markets.
"Randi will be a great asset to our business operations in Europe," commented Mr. Schmalzriedt. "She will bring her considerable experience at ACE to her new role, providing strategic legal counsel to the ACE European management group."
Ms. Cigelnik holds a Bachelor of Arts degree in English Literature and Economics from the University of Michigan and a Juris Doctor from Boston University's School of Law. She is admitted to the Illinois Bar, the US District Court for the Northern District of Illinois and the Seventh Circuit Court of Appeals.
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. Additional information can be found at: www.acelimited.com.