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News Release

New Jersey Department of
Banking and Insurance


Commissioner Tom Considine

For Immediate Release:
April 12, 2010

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064


ACE Group of Insurance Companies Brings
130 Jobs to New Jersey

JERSEY CITY – New Jersey Department of Banking and Insurance Commissioner Tom Considine today joined with state and local officials and staff from ACE Group to mark the opening of the insurance company’s new offices here. The new facility brings more than 130 new jobs to the state.

“Today’s announcement spotlights Governor Chris Christie’s message that New Jersey is Open for Business,” said Commissioner Considine. “We want everyone to understand that New Jersey is a destination for businesses, a place for new industries, and that the Governor is working hard to create new jobs.”

Also attending the event were Senator Sandra B. Cunningham, (D-31) and Jersey City Deputy Mayor Rosemary T. McFadden.

“We already have operations in three other New Jersey locations,” said Doug Poetzsch, Executive Vice President, Claims, ACE USA. “Opening an office at the Jersey City location presents an additional opportunity for ACE to get closer to our customers by moving to a region in Eastern New Jersey. This new office supports our regional strategy of providing a local presence in the regions where we offer products and services.”

ACE Group’s relocation to 10 Exchange Place represents a significant marketplace investment. Executives from the Switzerland-based global property and casualty insurance say that Governor Christie’s new attitude toward business development contributed to their business decision.

“The Department’s two-fold mission to protect consumers and to promote growth will continue,” said Considine. “Today is a perfect example of how we as regulators must focus on that second part of our mission. In these challenging economic times the Department must partner with other state agencies and local government and reach out to the financial services industries we regulate to ensure they thrive in an environment where our citizens can find employment.”

The ACE Group is a publicly traded commercial property and casualty insurance and reinsurance carrier. The company also operates in the accident, life and health insurance businesses. ACE USA, a property and casualty subsidiary of ACE Group, is headquartered in Philadelphia. Headed by ACE Limited (NYSE:ACE), the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com. Media calls to ACE Group: Carla L. Ferrara, (215) 640-4744, Carla.ferrara@acegroup.com

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