ACE Limited Board Will Recommend 33% Quarterly Dividend Increase to Shareholders, from $0.35 Per Share to $0.47 Per Share

The Board of Directors of ACE Limited (NYSE: ACE) announced today that it will recommend to shareholders a 33% increase in the company’s quarterly dollar-denominated dividend, from $0.35 per share to $0.47 per share. The company will file a proxy statement with the Securities and Exchange Commission, which will be mailed to shareholders of record as of November 30, 2011.

"We are pleased to propose to our shareholders a substantial increase to the dividend, which reflects our full confidence in ACE’s strong balance sheet and earnings generation power,” said Evan G. Greenberg, Chairman and Chief Executive Officer, ACE Limited. "The increased dividend payout provides an attractive cash return for our shareholders particularly in this current low interest rate environment and represents a modest impact to capital, so preserving our considerable capital flexibility for risk and growth opportunities both now and into the future. We believe this action furthers our commitment to creating exceptional shareholder value.”

"As part of our continuous review of ACE’s overall capital management needs and plans, we determined an increase to our dividend was warranted at this time,” said Philip V. Bancroft, Chief Financial Officer, ACE Limited. "This action is a one-time increase that resets the level of our annual dividend. We reassess our dividend every year and intend to continue our longstanding practice of steady dividend increases.”

The resolution to increase the dividend would be an amendment to the existing dividend resolution as approved by the company’s shareholders on May 18, 2011, and would apply to the next two quarterly dividend installments. An extraordinary general shareholder meeting to vote on the resolution will take place on Monday, January 9, 2012, at the company’s offices in Zurich. The Board also declared that the first of such installments shall be payable on January 31, 2012, to shareholders of record at the close of trading on the New York Stock Exchange on January 10, 2012. In the event shareholders reject the proposed increase, the dividend would continue to be paid in the originally approved amount.

The ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, 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.acegroup.com

Cautionary Statement Regarding Forward-Looking Statements:

Forward-looking statements made in this press release, such as statements regarding dividends and record date, the proposed extraordinary general meeting, and capital flexibility, reflect the company’s current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, the company’s forward-looking statements about its dividend payments could be affected by any change in schedule for the shareholder meeting, potential rejection of the dividend proposal by shareholders, extraordinary currency fluctuations leading to reduction in the USD value of the dividend pursuant to the dividend cap approved by the company’s shareholders and described in the company’s proxy statement dated April 4, 2011. Forward-looking statements related to capital flexibility and growth opportunities may be affected by actual business results or external events such as catastrophes or developments in the financial markets. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find it:

This press release is not a solicitation of a proxy and is not a substitute for any proxy statement or other filing that may be required to be made with the Securities and Exchange Commission in connection with the extraordinary general meeting. Shareholders and other interested parties are urged to read any such documents that are filed with the Securities and Exchange Commission because those documents will contain important information. Shareholders will be able to receive such documents free of charge at the SEC's web site, www.sec.gov, in the Investor Relations section of the company's website, www.acegroup.com, or by contacting ACE Investor Relations by telephone at 1 (441) 299-9283.