the writing of aviation product liability risks.

The expansion of its underwriting capabilities is the latest move by a Bermuda-based insurer into a new line of business.

Chairman and CEO Mr. Brian Duperreault said: "This is a very specialised sector of the market which provides coverage for manufacturers of aircraft products.'' Heading ACE's aviation underwriting team will be newly appointed senior vice president, Mr. Gary Cooke, a recognised Lloyd's and London company insurance market underwriter.

Mr. William Loschert, executive vice president, underwriting, said: "ACE believes in securing underwriting expertise before entering and developing new lines of business.

"Gary Cooke brings 26 years of experience to this new position. We expect that he will relocate to Bermuda by June 1, 1995.'' Mr. Bradford Rich, executive vice president, said: "We have been studying this for a couple of years and we have spent a long time looking for sectors of the market where we can make an underwriting profit. We think this is one of those areas.

"It is something which is a fairly small sector of the market but it is an opportunity that has been there for quite a while. It is very important to get the right individual to head up your underwriting team. It took us quite a while to do that.

"It has taken us a while to get comfortable with this sector of the market and a fairly lengthy time to find the right person.'' Bermuda-based ACE Ltd., through its wholly owned insurance subsidiaries, is the leading provider of excess directors and officers liability insurance in the world, and one of the leading providers of high level excess liability insurance. ACE also offers satellite insurance for launch and in-orbit operations.

The company provides coverage to a diverse group of the world's largest enterprises. At December 31, ACE Ltd. had approximately $1.1 billion in shareholders' equity and approximately $2.7 billion in assets.