ACE Announces Retirement of Chief Auditor Julie Schaekel; Dimitry DiRienzo Named Successor

ZURICH--(BUSINESS WIRE)-- ACE Group today announced that Julie Schaekel, Chief Auditor since 2005, will retire from the company effective June 1, 2015. Dimitry DiRienzo, who currently serves as Senior Vice President and Controller for the company’s international life insurance operations, has been named her successor and will report to Philip V. Bancroft, Chief Financial Officer of ACE Limited, and the audit committee of the ACE Limited Board of Directors.

“Julie first joined ACE 17 years ago and has been a valued member of our team. We thank her for her contributions to ACE, including a decade of distinguished service as Chief Auditor. We wish Julie the very best,” said Mr. Bancroft. “We are pleased to name Dimitry, who joined us eight years ago, to this role. Dimitry’s auditing and finance experience are the right fit.”

As Chief Auditor, Mr. DiRienzo will be responsible for all ACE internal audit functions worldwide. He brings to his new role nearly 20 years of experience in accounting, auditing and reporting for national and global financial services companies. Mr. DiRienzo joined ACE in 2007 as Vice President, Finance, for ACE USA, the company's retail broker-distributed commercial P&C business, and was promoted to Senior Vice President in 2010. He was appointed Controller for ACE Life in 2014.

Prior to joining ACE, Mr. DiRienzo was with PricewaterhouseCoopers for 10 years, where he held positions of increasing responsibility as an auditor of financial services clients. He is a certified public accountant and a member of the American Institute for Certified Public Accountants and the Pennsylvania Institute for Certified Public Accountants. Mr. DiRienzo holds a B.S. degree in accounting from Drexel University.

About ACE Group

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at: www.acegroup.com.