A.M. Best Assigns Rating to ACE INA UK Ltd

[A.M. Best via BizWire]

Affirms Rating of ACE Insurance S.A.-N.V.
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OLDWICK, N.J.--(BUSINESS WIRE)--April 29, 2004--A.M. Best Co. has
assigned a financial strength rating of A (Excellent) to ACE INA UK
Ltd (ACE INA UK) (United Kingdom). At the same time, A.M. Best has
affirmed the financial strength rating of A (Excellent) of ACE
Insurance S.A.-N.V. (Belgium). The outlook for both ratings is stable.
These ratings reflect the companies' strategic role within the ACE
Group, as well as their strong and prospectively stable risk-adjusted
capitalisation base. The ratings factor the expected renewal by ACE
INA UK of approximately 45% of the business previously underwritten
via Lloyd's Syndicate 2488 at year-end 2004 and the planned transfer
of all assets and liabilities from ACE Insurance S.A.-N.V. to ACE INA
UK, which is scheduled for January 2005. Once the transfer of business
is executed, ACE Insurance S.A.-N.V. will become a holding company,
and all policies formally written by this entity will be fully
underwritten by ACE INA UK. ACE INA UK will then represent
approximately 15% of the total ACE Group gross written premiums. A.M.
Best expects the ACE INA UK European business profile to strengthen in
the medium term.

A.M. Best Co., established in 1899, is the world's oldest and most
authoritative insurance rating and information source. For more
information, visit A.M. Best's Web site at www.ambest.com.