Bob Courtemanche Chief Executive Officer September 14, 2010 ACE Private Risk Services ® Tapping the Potential of High Net Worth Clients

Proprietary & Confidential 2 Overall P/C Market Under Pressure -3% Overall -9% Flat Source: IIABA 2010 Market Share Report

Proprietary & Confidential 3 Direct Response Taking Independent Share Source: IIABA 2010 Market Share Report

Proprietary & Confidential 4 Caught Between the Hammer and Anvil Personal Lines Direct Response 13% Captives 53% Independent Agents 34% Source: IIABA 2010 Market Share Report

Proprietary & Confidential 5 Price or Advice? Commoditization Price Customization Advice / Value  Scale  Mass advertising  Web transaction platforms  Relationship  Expertise  Breadth of solutions

Proprietary & Confidential 6 Advise Whom? Affluent/HNW customers  Value oriented  Advisor oriented  Package purchasers  Better retention  More revenue/customer  Can be 30-40% more profitable

Proprietary & Confidential 7 A Growing Market $1MM Net Worth NIPR +2.4%/Yr. $5MM Net Worth NIPR +8.5%/Yr. Million People Source: Spectrem Group

Proprietary & Confidential 8 Untapped Potential Source: Conning Research & Consulting, 2008 $7B $5B $18B $30 Billion

Proprietary & Confidential 9 Untapped Potential $12B Ind. Agent $18B Captive, Dir. Resp. Source: Based on rough estimate by ACE PRS that independent agents have a 40% share of the affluent/HNW market

Proprietary & Confidential 10 Untapped Potential $5B HNW Co. $18B Captive, Dir. Resp. $7B Std. Co. Source: HNW Co. dollars are based on a rough estimate using publicly available records of HNW carrier premium.

Proprietary & Confidential 11 Untapped Potential $25B to win or up-sell

Proprietary & Confidential 12 Confidence Shaken, Ready to Engage “Post financial crisis, HNWIs are much more engaged in financial affairs.” More motivated to educate themselvesMore motivated to educate themselves Expect specialized or independent adviceExpect specialized or independent advice Seeking transparency and simplicitySeeking transparency and simplicity Source: 2010 World Wealth Report, Capgemini / Merrill Lynch

Proprietary & Confidential 13 Value of Advice to Client Percent of Agents Saying Customer Likely Underinsured Source: ACE Survey of 600 Independent Agents and Brokers

Proprietary & Confidential 14 Value of Advice to Client Percent of Agents Saying Customer Likely Missing Savings Opportunities Source: ACE Survey of 600 Independent Agents and Brokers

Proprietary & Confidential 15 Auto – Value of Advice, Customized Coverage Agent Advice  BI limits / excess gaps  UM/UIM  Deductible options  Regular vs. Collector  Multi-state exposures Coverage / Service  New for old / agreed value  OEM parts  Choice of local repair shop  Roadside svc. & overnight expenses  No daily limit on rentals  Betterment, no depreciation for partial losses Get Quote

Proprietary & Confidential 16 Umbrella – Value of Advice, Customized Coverage Agent Advice  Limits / gaps  Un- / Under-insured  Special exposures  Domestic staff  Not-for-profit board member Coverage / Service  Limits up to $100 million  Legal expenses outside limit  Shadow counsel  Reputation damage  EPLI  Not-for-profit D&O

Proprietary & Confidential 17 Value of a HNW Specialist Carrier Coverage innovations  Contents/other structures limits -- full flexibility  Uninsured/Underinsured liability beyond motorists  Blanket property coverage for Ultra HNW Service innovations  Background screening of financial advisors  Wildfire and hurricane safety programs  Water loss prevention programs  Unified claims and loss prevention advisory teams Constantly evolving to match HNW changing needs  Leads to extraordinary claims service  Generates referrals  99% would refer to family, friend

Proprietary & Confidential 18 Summary  Compete on advice and value versus price in personal lines  Target HNW clients  Advice oriented, profitable  $25-30 billion size, on rebound  Most are underserved  Use many opportunities to maximize value of insurance program  Leverage access to specialty carrier geared to the HNW market