new excess property insurance line, the company reported.

Mr. Patrick Mitchell will be responsible for underwriting a worldwide, broad-based book of excess property, specialty property and engineering insurance, according to a release from the Bermuda-based insurance company.

The initial ACE property customer base is expected to be large national and multi-national industrial and manufacturing corporations. The targeted client profiles are high-risk primary industries and unusual or difficult to place property risks and coverage.

The maximum per risk capacity offered by ACE property is $50 million with a minimum attachment point of $25 million.

"We are extremely pleased to have attracted the expertise of Patrick Mitchell to lead ACE's entry into the excess property market,'' said Mr. William Loschert, executive vice president of underwriting.

"His 25-plus years in insurance underwriting and management ideally supports ACE's hallmark of providing stable and consistent capacity to specialty markets worldwide.'' Prior to joining ACE, Mr. Mitchell was vice president, specialty lines, and senior risk control officer at Commercial Union Insurance Companies in Boston where he was responsible for maintaining a variety of insurance lines as well as managing the risk control engineering department.

He has also held senior management positions at The Hartford Steam Boiler Inspection & Insurance Company and the Engineering Insurance Company.

He holds a Bachelor of Arts degree from the University of Washington and a Juris Doctor from the University of Connecticut.

ACE Ltd., through its wholly-owned insurance subsidiaries, provides excess directors and officers liability insurance as well as satellite, financial lines, aviation products and excess property insurance.