EXHIBIT 10.9

                    AMENDMENT TO REIMBURSEMENT AGREEMENT

         This Amendment dated as of March 15, 2000 amends the Reimbursement
Agreement dated as of September 8, 1999, among ACE Limited ("Parent"), ACE
Bermuda Insurance Ltd. ("ACE Bermuda"), Tempest Reinsurance Company Limited
("Tempest"), the Banks party thereto, Deutsche Bank AG, New York and/or
Cayman Islands Branches and Fleet National Bank, as Documentation Agents,
and Mellon Bank, as Issuing Bank and Administrative Agent (the
"Agreement").

         Parent, the Issuing Bank and the Required Banks (as defined in the
Agreement) hereby agree that the Agreement shall be amended as follows:

1.       Section 1.01 of the Agreement is amended to add thereto in the
         appropriate alphabetical position the following definition:

                           "Securitization Transaction" means any sale,
                  assignment or other transfer by Parent or any Subsidiary
                  of any accounts receivable, premium finance loan
                  receivables, lease receivables or other payment
                  obligations owing to Parent or such Subsidiary or any
                  interest in any of the foregoing, together in each case
                  with any collections and other proceeds thereof, any
                  collection or deposit accounts related thereto, and any
                  collateral, guaranties or other property or claims in
                  favor of Parent or such Subsidiary supporting or securing
                  payment by the obligor thereon of, or otherwise related
                  to, any such receivables.

2.       Section 5.01(h) of the Agreement is amended to read in its entirety
         as follows:

                           (h) Transactions with Affiliates. Conduct, and
                  cause each of its Subsidiaries to conduct, all
                  transactions otherwise permitted under the Loan Documents
                  with any of their Affiliates (other than any such
                  transactions between Loan Parties or wholly-owned
                  Subsidiaries of Loan Parties) on terms that are fair and
                  reasonable and no less favorable than it would obtain in
                  a comparable arm's-length transaction with a Person not
                  an Affiliate.

3.       Section 5.02(a) of each of the Agreements is amended by deleting
         the word "and" at the end of clause (xiv) thereof, renumbering
         clause (xvi) thereof as clause (xv), inserting "; and" at the end
         of clause (xv), and adding the following clause (xvi) thereto:

                           (xvi) Liens arising in connection with
                  Securitization Transactions; provided that the aggregate
                  principal amount of the investment or claim held at any
                  time by all purchasers, assignees or other transferees of
                  (or of interests in) receivables and other rights to
                  payment in all Securitization Transactions



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                  (together with the aggregate principal amount of any
                  other obligations secured by such Liens) shall not exceed
                  U.S.$250,000,000.

4.       Section 5.02(d) of the Agreement is amended by deleting the word
         "and" at the end of the clause (v) thereof, inserting "; and" at
         the end of clause (vi) thereof, and adding the following clause
         (vii) thereto:

                           (vii) Securitization Transactions; provided that
                  the aggregate principal amount of the investment or claim
                  held at any time by all purchasers, assignees or other
                  transferees of (or of interests in) receivables and other
                  rights to payment in all Securitization Transactions
                  shall not exceed U.S.$250,000,000.

         The foregoing amendment shall become effective with respect to the
Agreement on the date on which the Administrative Agent has received
counterparts hereof (by facsimile or otherwise) signed by the Parent, the
Issuing Bank and the Required Banks. Except as amended hereby, the
Agreement shall remain in full force and effect and is hereby ratified and
confirmed in all respects.

         This Amendment may be executed in any number of counterparts and
by the different parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. This Amendment shall
be governed by, and construed in accordance with, the laws of the State of
New York.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed by their respective officers thereunto duly authorized as of
the date first above written.




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                                             ACE LIMITED

The Common Seal of ACE Limited was
hereunto affixed in the presence of:

------------------------------
Director

------------------------------
Secretary



                                             MELLON BANK, N.A., as
                                              Administrative Agent, Issuing
                                              Bank and Bank


                                             By:-------------------------------
                                             Title:



                                             DEUTSCHE BANK AG, NEW YORK
                                              AND/OR CAYMAN ISLANDS BRANCHES


                                             By:-------------------------------
                                             Title:


                                             By:-------------------------------
                                             Title:



                                             FLEET NATIONAL BANK


                                             By:-------------------------------
                                             Title:







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                                             THE BANK OF BERMUDA, LIMITED


                                             By:-------------------------------
                                             Title



                                             THE BANK OF NEW YORK


                                             By:-------------------------------
                                             Title:



                                             BANQUE NATIONALE DE PARIS


                                             By:-------------------------------
                                             Title:


                                             By:-------------------------------
                                             Title:



                                             SOCIETE GENERALE


                                             By:-------------------------------
                                             Title:







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