ACE Insurance Co. Ltd. has increased gross capacity on any single satellite risk, a Bermuda Insurance Institute seminar heard yesterday from Jeff Cassidy senior vice president, satellite underwriting/aerospace division.

Mr. Cassidy said that limits had been increased from $50 million to $80 million.

He said, "We are increasing our limits to demonstrate our commitment and expanded capabilities to serve our clients on any single risk.

"ACE is a recognised leader in the satellite business and the move is a natural step to take, given market conditions and ACE's future prospects in this sector.'' ACE Insurance provides launch and in-orbit insurance to a blue chip roster of global clients. ACE London at Lloyd's is also a recognised leader in the industry through the business written by the Ariel Sturge syndicate.

The ACE group of companies provide insurance and reinsurance to a diverse group of international clients.

Operating subsidiaries are based in Bermuda, the US, the UK at Lloyd's and the Republic of Ireland.

At March 31, ACE Ltd. had about $2.8 billion in shareholders' equity and about $7 billion in assets.

In April, ACE sold 16.5 million ordinary shares for total proceeds of some $600 million, which increased ACE shareholders' equity to approximately $3.4 billion.

INCREASING LIMITS -- Jeff Cassidy, senior vice president, satellite underwriting-aerospace division at ACE Insurance Co., Ltd.

BUSINESS BUC