At ACE Tempest Re Bermuda we pride ourselves at being a global leader in the catastrophe reinsurance market, having achieved success by combining state-of-the-art analytical capabilities with a responsive, client-focused approach. We offer a diversified range of products including, property catastrophe, workers compensation catastrophe, personal accident catastrophe, life catastrophe, stand alone terrorism and crop reinsurance.

ACE Tempest Re underwriters use the most sophisticated techniques available for risk assessment and employ a multiple-model platform to evaluate the exposure and capital requirements of the risks they assume. We license several event-based catastrophe simulation models, the results of which are complemented by our own exposure and experience model. Heuron, a proprietary portfolio management system, translates the various model outputs into a common format, so that our underwriters may apply a consistent risk-based capital measure to individual transactions.

This highly analytical approach allows ACE Tempest Re to achieve a unique competitive advantage in the marketplace and achieve a profitable return on capital. We have successfully exported this analytical underwriting approach to non-catastrophe property & casualty business for the U.S., Europe and Asia Pacific through ACE Tempest Re USA and ACE Tempest Re Europe .

History

ACE Tempest Re represents the successful merger of two predecessor companies, Tempest Re and CAT Limited, both mono-line property catastrophe reinsurers established in response to the dislocation of the catastrophe reinsurance market following Hurricane Andrew in 1993. ACE Limited acquired Tempest Re on July 1, 1996 and CAT Limited, on April 1, 1998. These two companies were combined under the ACE Tempest Re name.

Products

ACE Tempest Re Bermuda continually responds to our client needs by developing innovative, customized products. ACE Tempest Re consists of five underwriting units, US Cat, International Cat, Specialty, Trading and Property Non-Cat, and currently offers the following reinsurance products:

• Property catastrophe excess of loss
• Proportional catastrophe peril treaties
• Catastrophe aggregate excess of loss
• Options on catastrophe excess of loss
• Catastrophe reinstatement premium protection
• Back-up covers
• Workers compensation catastrophe
• Personal accident and life catastrophe
• Terrorism
• Crop stop loss
• International property risk excess of loss
• Industry loss warranties
• Insurance linked securities
• Parametric and derivative contracts

Financial Strength

ACE Tempest Re Bermuda takes pride in bringing superior underwriting expertise, capital and capacity to the worldwide broker market. Capitalized with US$3.6 billion at 31 December 2005 (unaudited), the strength of the company’s security has been affirmed by A+ ratings from both Standard & Poor's and A.M. Best.