Petitions to Transfer Business

2005-03-222005-01-012005-02-152005-02-25WC2A2LLThe City of Westminster-0.11371651.514145WC2A 2LLFinancial Services and Markets Act 2000FINANCIAL SERVICES AND MARKETS ACT 2000TSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk257922614/2492614/249

Petitions to Transfer Business

In The High Court of Justice       No: 925 of 2005

Chancery Division   

Companies Court  

In the matter of

ACE EUROPEAN GROUP LIMITED

and

In the matter of

CIGNA EUROPE INSURANCE COMPANY S.A. – N.V.

and

In the matter of

THE FINANCIAL SERVICES AND MARKETS ACT 2000

NOTICE

Notice is hereby given that on 15 February 2005 CIGNA Europe Insurance Company S.A.-N.V. (“ CEIC ”) applied to the High Court of Justice for:

1.  an Order under Part VII of the Financial Services and Markets Act 2000 (the “ Act ”) sanctioning a scheme (the “ Scheme ”) providing for the transfer to CEIC of inwards reinsurance business originally written in the United Kingdom by the Reinsurance Life Accident and Health (“ RLAH ”) Division of ACE Insurance SA-NV (“ ACE Europe” ) (formerly known as CIGNA Insurance Company of Europe SA-NV); and

2.  an Order making ancillary provision in connection with the implementation of the Scheme under Section 112 of the Act.

The RLAH business was transferred by ACE Europe to ACE European Group Limited (“ AEGL ”) on 1 January 2005 as part of the transfer of its entire business.

The proposed transfer will result in the RLAH business formerly carried on by AEGL being carried on by CEIC. The proposed transfer will secure the continuation by or against CEIC of any legal proceedings by or against AEGL that relate to rights and obligations in respect of the RLAH business.

CIGNA European Services (U.K.) Limited, using Independent London Market Services Limited (“ ILMS” ) as its agent for this purpose, is currently responsible for managing the RLAH business for AEGL. After the transfer to CEIC, ILMS will continue to have responsibility for the day to day correspondence with reinsureds or their brokers in relation to the RLAH business. All claims being dealt with before the transfer by ILMS will following the transfer continue to be dealt with by ILMS, on behalf of CEIC; all claims arising after the transfer will be dealt with by ILMS, on behalf of CEIC.

The application is directed to be heard before the Companies Court Judge at the Royal Courts of Justice, Strand, London WC2A 2LL on 22 March 2005 and any person (including any employee of AEGL or CEIC) who alleges that he or she would be adversely affected by the carrying out of the Scheme may appear at the time of that hearing in person or by Counsel. Any person who intends so to appear, and any reinsured of AEGL or CEIC who dissents from the Scheme but does not intend so to appear, should give not less than two clear days' prior notice in writing of such intention or dissent, and the reasons therefore, to the solicitors named below.

Copies of a report on the terms of the Scheme prepared pursuant to Section 109 of the Act (the “ Independent Expert's Report” ) and a statement setting out the terms of the Scheme and containing a summary of the Independent Expert’s Report will be provided free of charge by the solicitors named below.

Dated this 25 February 2005.

Ince & Co

Knollys House

11 Byward Street

London EC3R 5EN

Tel: +44 (0) 20 7623 2011

Fax: +44 (0) 20 7623 3225

Ref: 8271/8265.

Solicitors for CIGNA Europe Insurance Company S.A. - N.V.