ACE Group CEO Makes Statement on Senate Failure to Extend TRIA

ACE Group Chairman and Chief Executive Officer Evan G. Greenberg today issued the following statement in response to the Senate’s failure to pass legislation reauthorizing the Terrorism Risk Insurance Act (TRIA):

“Congressional failure to approve the renewal of TRIA legislation is deeply disappointing. It was simply irresponsible for our elected officials to adjourn without reauthorizing TRIA. By letting TRIA lapse, they have exposed our economy and our society to the threat of severe economic uncertainty in the event of a significant act of terrorism. I sincerely hope this is the first order of business for the new Congress.”

About ACE Group

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE:ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.

ACE GroupJeffrey Zack, [e-mail]