Ace Ltd. announced yesterday named Brian Dowd as its vice-chairman.

Mr. Dowd is the insurer's chief executive officer, insurance - North America.

In addition to his current responsibilities, which encompass Ace's property and casualty insurance operations in the US, Canada and Bermuda, Mr. Dowd will now assume corporate-wide executive responsibility for the Ace Group's global product underwriting boards and the strategy and purchase of the company's reinsurance programmes.

"We are pleased to name Brian vice-chairman in recognition of the major contributions he has made to our company and to acknowledge the important role he will continue to play in our company's further growth and development," Ace chairman and CEO Evan Greenberg said.

"We have benefited greatly from Brian's leadership, underwriting judgment and thoughtful approach to building our North American franchise.

"I consider Brian, together with John Keogh, who heads our international insurance operations, my senior partners in running Ace's global insurance business."

Mr. Dowd joined ACE in 1995 and has held a number of senior management positions with the company including president and CEO of Ace Westchester, president of Ace Specialty P&C Group, and senior vice-president of Property for Ace Bermuda.

Ace also announced yesterday that its shareholders had approved all matters relating to the company's annual general meeting in Zurich.

This includes a seven percent increase to the company's quarterly dividend to 31 cents per quarter, or $1.24 annually.