ACE chief Greenberg named chairman

HAMILTON, Bermuda--ACE Ltd. Chief Executive Officer Evan G. Greenberg has been elected chairman of ACE's board of directors, the insurer said Thursday.

Mr. Greenberg--whose appointment will be effective in May at the company's annual general meeting--will replace Brian Duperreault, who retired last June. Mr. Duperreault, who currently serves as nonexecutive chairman, will remain a member of Hamilton, Bermuda-based ACE's board.

"Evan has proven his leadership through the performance of our company in a period marked by natural catastrophes and widespread industry investigations," Mr. Duperreault said in a statement. "I am proud to again pass the reins to a proven industry leader who will continue to serve our shareholders well in the years to come," he said.