Document:

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

         SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of April 5,
2002 among ACE Limited (the "Parent"), ACE Bermuda Insurance Ltd. ("ACE
Bermuda"), ACE Tempest Reinsurance Ltd, formerly known as Tempest
Reinsurance Company Limited ("Tempest"), ACE INA Holdings Inc. ("ACE INA")
and ACE Guaranty Re Inc. ("ACE Guaranty"), the LENDERS listed on the
signature pages hereof, J.P. MORGAN SECURITIES INC., as Lead Arranger and
Bookrunner, BANK OF AMERICA, N.A., BARCLAYS BANK PLC, CITIBANK, N.A. and
FLEET NATIONAL BANK, as Co-Syndication Agents, JPMORGAN CHASE BANK, as
Administrative Agent, and LLOYDS TSB BANK PLC, as Documentation Agent.

                           W I T N E S S E T H :

        WHEREAS, certain of the parties hereto have heretofore entered into
a Credit Agreement dated as of May 8, 2000 (as heretofore amended and/or
restated, the "Agreement");

        WHEREAS, at the date hereof, no Advances are outstanding under the
Agreement; and

        WHEREAS, the parties hereto desire to amend the Agreement as set
forth herein and to restate the Agreement in its entirety to read as set
forth in the Agreement with the amendments specified below;

        NOW, THEREFORE, the parties hereto agree as follows:

        SECTION 1. Definitions; References. Unless otherwise specifically
defined herein, each capitalized term used herein which is defined in the
Agreement shall have the meaning assigned to such term in the Agreement.
Each reference to "hereof", "hereunder", "herein" and "hereby" and each
other similar reference and each reference to "this Agreement" and each
other similar reference contained in the Agreement shall from and after the
date hereof refer to the Agreement as amended and restated hereby. The term
"Notes" defined in the Agreement shall include from and after the date
hereof the New Notes (as defined below).

                                     1

<PAGE>

        SECTION 2.  Amendment of the Agreement.

        (a) The following definition in Section 1.01 of the Agreement is
amended to read as follows:

               "Termination Date" means the earlier of April 4, 2003 and
        the date of termination in whole of the WC Commitments or such
        later date to which the Termination Date shall have been extended
        pursuant to Section 2.01(b) or, if such day is not a Business Day,
        the next preceding Business Day.

        (b) Section 2.08(a)(ii) of the Agreement is amended by replacing
the figure "0.15%" with the figure "0.25%".

        (c) Section 4.01(g) of the Agreement is amended by changing each
reference to the date "December 31, 2000" to "December 31, 2001".

        (d) Section 5.02(a)(xviii) of the Agreement is amended by deleting
the word "and" immediately after the semi-colon at the end thereof.

        (e) Section 5.02(a)(xix) of the Agreement is amended by deleting
the period at the end thereof and adding a semi-colon and the word "and" at
the end thereof.

        (f) Section 5.02(a) of the Agreement is amended by adding the
following immediately after the word "and" following the semi-colon at the
end of subsection (xix) thereof:

        (xx) Liens securing up to an aggregate amount of $200,000,000 of
        obligations of Tempest, the Parent or any wholly owned Subsidiary,
        arising out of catastrophe bond financing.

        (g) The lead-in to Section 5.03 of the Agreement is amended by
replacing the phrase "the Parent will furnish to the Agents and the
Lenders" with the phrase "the Parent will furnish to the Administrative
Agent for distribution to the Lenders".

        (h) Section 9.01 of the Agreement is amended by adding the
following phrase at the end of the parenthetical in the first proviso
thereto:

        "and other than any Lender that is not affected by such amendment,
        waiver or consent."

                                     2

<PAGE>

        SECTION 3. Change in Pricing. With effect from and including the
date this Amendment and Restatement becomes effective in accordance with
Section 7 hereof, the attached Pricing Schedule shall replace the existing
Pricing Schedule.

        SECTION 4. Change in Commitments. With effect from and including
the date this Amendment and Restatement becomes effective in accordance
with Section 7 hereof, (i) each Person listed on the signature pages hereof
which is not a party to the Agreement (a "New Lender") shall become a
Lender party to the Agreement and (ii) the Commitment of each Lender shall
be the amount set forth opposite the name of such Lender on the attached
Commitment Schedule, which shall replace the existing Commitment Schedule.
Any Lender whose Commitment is changed to zero shall upon such
effectiveness cease to be a Lender party to the Agreement, and all accrued
fees and other amounts payable under the Agreement for the account of such
Lender shall be due and payable on such date; provided that the provisions
of Sections 2.12, 8.05 and 9.03 of the Agreement shall continue to inure to
the benefit of each such Lender.

        SECTION 5. Representations and Warranties. (a) Each Borrower hereby
represents and warrants (but, in the case of each Borrower other than the
Parent, only as to itself) that as of the date hereof and after giving
effect hereto:

               (i)  no Default has occurred and is continuing; and

               (ii) each representation and warranty of such Borrower set
        forth in the Agreement after giving effect to this Amendment and
        Restatement (but, in the case of each Borrower other than the
        Parent, only as to itself) is true and correct as though made on
        and as of such date.

        (b) The Parent hereby represents and warrants that, as of the date
of effectiveness hereof, there shall have occurred no material adverse
change since December 31, 2001 in the business, financial condition,
operations or properties of the Parent and its Subsidiaries, taken as a
whole.

        SECTION 6.  Governing Law.  This Amendment and Restatement shall be
governed by and construed in accordance with the laws of the State of New York.

        SECTION 7. Counterparts; Effectiveness. This Amendment and
Restatement may be signed in any number of counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument. This Amendment and Restatement shall
become effective as of the date hereof when each of the following
conditions shall have been satisfied:

                                     3

<PAGE>

               (i) The Administrative Agent shall have received
        counterparts of this Amendment and Restatement duly executed by
        each of the parties listed on the signature pages hereof (or in the
        case of any party as to which such an executed counterpart shall
        not have been received, the Administrative Agent shall have
        received evidence satisfactory to it of the execution and delivery
        of a counterpart hereof by such party).

               (ii) The Administrative Agent shall have received the
        following in form and substance reasonably satisfactory to the
        Administrative Agent (unless otherwise specified) and (except for
        the New Notes (as defined below)) in sufficient copies for each
        Lender.

                       (A) Duly executed Committed Notes (in substantially
               the form of Exhibit A-1 to the Agreement) from each Borrower
               for each of the New Lenders and each Lender with a
               Commitment (as reflected on the existing Commitment
               Schedule) which differs from the Commitment reflected on the
               attached Commitment Schedule, dated on or before the date of
               effectiveness hereof (the "New Notes").

                       (B) Certified copies of the resolutions of the Board
               of Directors of each Loan Party approving the transactions
               contemplated by the Loan Documents and each Loan Document to
               which it is or is to be a party, and of all documents
               evidencing other necessary corporate action and governmental
               and other third party approvals and consents, if any, with
               respect to the transactions contemplated by the Loan
               Documents and each Loan Document to which it is or is to be
               a party.

                       (C) A certificate of each Loan Party, signed on
               behalf of such Loan Party by its President, Vice President,
               Chief Executive Officer, Chief Financial Officer or Chief
               Accounting Officer and its Secretary or any Assistant
               Secretary, dated the date of effectiveness hereof,
               certifying, in the case of each Loan Party other than the
               Parent, only as to such Loan Party, as to (1) the truth of
               the representations and warranties contained in the Loan
               Documents as though made on and as of the date of
               effectiveness hereof and (2) the absence of any event
               occurring and continuing, or resulting from the
               effectiveness hereof, that constitutes a Default.

                       (D) A certificate of the Secretary or an Assistant
               Secretary of each Loan Party certifying the names and true

                                     4

<PAGE>

               signatures of the officers of such Loan Party authorized to
               sign this Amendment and Restatement, the New Notes to be
               issued by such Loan Party and the other documents to be
               delivered hereunder and thereunder.

                       (E) A favorable opinion of (1) Maples and Calder,
               Cayman Islands counsel for the Parent, to substantially the
               effect of Exhibit D-1 to the Agreement with respect to this
               Amendment and Restatement and the Agreement as amended and
               restated hereby and as to such other matters as the
               Administrative Agent may reasonably request, (2) Mayer,
               Brown, Rowe & Maw, New York counsel for the Loan Parties, to
               substantially the effect of Exhibit D-2 to the Agreement
               with respect to this Amendment and Restatement and the
               Agreement as amended and restated hereby and as to such
               other matters as the Administrative Agent may reasonably
               request, (3) Conyers Dill & Pearman, Bermuda counsel for ACE
               Bermuda and Tempest, to substantially the effect of Exhibit
               D-3 to the Agreement with respect to this Amendment and
               Restatement and the Agreement as amended and restated hereby
               and as to such other matters as the Administrative Agent may
               reasonably request and (4) Hogan & Hartson, Maryland counsel
               for ACE Guaranty, to substantially the effect of Exhibit D-4
               to the Agreement with respect to this Amendment and
               Restatement and the Agreement as amended and restated hereby
               and as to such other matters as any Lender through the
               Administrative Agent may reasonably request.

               (iii) The Borrowers shall have paid all accrued fees of the
        Agents and the Lenders and all accrued expenses of the Agents
        (including the accrued fees and expenses of counsel to the
        Administrative Agent), in each case to the extent then due and
        payable.

This Amendment and Restatement shall not become effective or binding on any
party hereto unless all of the foregoing conditions are satisfied not later
than the date hereof. The Administrative Agent shall promptly notify the
Borrowers and the Lenders of the effectiveness of this Amendment and
Restatement, and such notice shall be conclusive and binding on all parties
hereto.

                                     5

<PAGE>

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

                                             ACE LIMITED

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

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

--------------------------------------
Chief Financial Officer

                                             ACE BERMUDA INSURANCE
                                             LTD.

The Common Seal of ACE Bermuda
Insurance Ltd. was hereunto affixed
in the presence of:

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

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

                                             ACE TEMPEST REINSURANCE
                                             LTD.

The Common Seal of ACE Tempest
Reinsurance Ltd. was hereunto affixed in
the presence of:

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

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

                                     6

<PAGE>

                                      ACE INA HOLDINGS INC.

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

                                      ACE GUARANTY RE INC.

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

                                      JPMORGAN CHASE BANK, as
                                        Administrative Agent and as
                                        Lender

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

                                      BANK OF AMERICA, N.A., as
                                        Syndication Agent and as Lender

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

                                     7

<PAGE>

                                      FLEET NATIONAL BANK, as
                                        Syndication Agent and as Lender

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

                                      BARCLAYS BANK PLC, as
                                        Syndication Agent and as Lender

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

                                      CITIBANK, N.A., as Syndication
                                        Agent and as Lender

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

                                      LLOYDS TSB BANK PLC, as
                                        Documentation Agent and as
                                        Lender

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

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

                                     8

<PAGE>

                                      COMMERZBANK
                                      AKTIENGESELLSCHAFT, NEW
                                      YORK AND GRAND CAYMAN
                                      BRANCHES

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

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

                                      CREDIT LYONNAIS, NEW YORK
                                      BRANCH

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

                                      ROYAL BANK OF CANADA

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

                                      STATE STREET BANK AND
                                      TRUST COMPANY

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

                                     9

<PAGE>

                                      WACHOVIA BANK, NATIONAL
                                      ASSOCIATION

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

                                      ABN AMRO BANK N.V.

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

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

                                      THE BANK OF TOKYO-
                                      MITSUBISHI, LIMITED

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

                                      COMERICA BANK

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

                                     10

<PAGE>

                                      DEUTSCHE BANK AG, NEW
                                      YORK BRANCH

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

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

                                      MELLON BANK, N.A.

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

                                      HSBC BANK USA

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

                                      THE BANK OF NEW YORK

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

                                     BANK ONE, N.A.

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

                                     11

<PAGE>

                              PRICING SCHEDULE

        Each of "Applicable Facility Fee Percentage" and "Applicable
Margin" means, for any day, the rate per annum set forth below in the row
opposite such term and in the column corresponding to the Pricing Level and
Usage that apply on such day:

<TABLE>
<CAPTION>

   Pricing Level           Level I   Level II    Level III    Level IV    Level V    Level VI
------------------------ ---------- ---------- ------------- ---------- ----------- -----------
<S>                       <C>        <C>          <C>         <C>         <C>        <C>
Applicable Facility Fee    0.060%     0.070%       0.080%      0.110%      0.135%     0.185%
   Percentage
Applicable Margin
   Usage < 33%             0.140%     0.230%       0.270%      0.390%      0.615%     0.815%
   Usage > 33%             0.240%     0.330%       0.370%      0.515%      0.740%     1.065%
         -
</TABLE>

        For purposes of this Schedule, the following terms have the
following meanings, subject to the concluding paragraph of this Schedule:

        "Level I Pricing" applies on any day on which the Borrower's
long-term debt is rated A+ or higher by S&P or A1 or higher by Moody's.

        "Level II Pricing" applies on any day on which (i) the Borrower's
long-term debt is rated A or higher by S&P or A2 or higher by Moody's and
(ii) Level I Pricing does not apply.

        "Level III Pricing" applies on any day on which (i) the Borrower's
long-term debt is rated A- or higher by S&P or A3 or higher by Moody's and
(ii) neither Level I Pricing nor Level II Pricing applies.

        "Level IV Pricing" applies on any day on which (i) the Borrower's
long-term debt is rated BBB+ or higher by S&P and/or Baa1 or higher by
Moody's and (ii) none of Level I Pricing, Level II Pricing and Level III
Pricing applies.

        "Level V Pricing" applies on any day on which (i) the Borrower's
long-term debt is rated BBB or higher by S&P or Baa2 or higher by Moody's
and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing and
Level IV Pricing applies.

        "Level VI Pricing" applies on any day if no other Pricing Level
applies on such day.

        "Moody's" means Moody's Investors Service, Inc.

                                     12

<PAGE>

        "Pricing Level" refers to the determination of which of Level I,
Level II, Level III, Level IV, Level V or Level VI Pricing applies on any
day.

        "S&P" means Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc.

        The "Usage" applicable to any date is the percentage equivalent of
a fraction the numerator of which is the sum of the aggregate outstanding
principal amount of the Advances at such date and the denominator of which
is the aggregate amount of the WC Commitments at such date. If for any
reason any Advances remain outstanding following the termination of the WC
Commitments, Usage will be deemed to be more than 33%.

        The credit ratings to be utilized for purposes of this Schedule are
those assigned to the senior unsecured long-term debt securities of the
Parent without third-party credit enhancement, and any rating assigned to
any other debt security of the Parent shall be disregarded. The ratings in
effect for any day are those in effect at the close of business on such
day.

        In the case of split ratings from S&P and Moody's, the rating to be
used to determine the applicable Pricing Level is the higher of the two
(e.g., A+/A2 results in Level I Pricing); provided that if the split is
more than one full rating category, the intermediate (or higher of the two
intermediate ratings) will be used (e.g. A+/A3 results in Level II Pricing
and AA-/A3 results in Level I Pricing); and provided further that unless
the Parent's credit ratings qualify for at least Level V Pricing, no better
Pricing Level will be applicable.

                                     13

<PAGE>

                            COMMITMENT SCHEDULE

===============================================================================
                  Lender                                    Commitment
===============================================================================
             JPMorgan Chase Bank                            $66,000,000
-------------------------------------------------------------------------------
              Barclays Bank PLC                             $55,000,000
-------------------------------------------------------------------------------
            Bank of America, N.A.                           $55,000,000
-------------------------------------------------------------------------------
                Citibank, N.A.                              $55,000,000
-------------------------------------------------------------------------------
             Fleet National Bank                            $55,000,000
-------------------------------------------------------------------------------
             Lloyds TSB Bank plc                            $55,000,000
-------------------------------------------------------------------------------
     Wachovia Bank, National Association                    $50,000,000
-------------------------------------------------------------------------------
       Credit Lyonnais New York Branch                      $50,000,000
-------------------------------------------------------------------------------
 Commerzbank Aktiengesellschaft, New York and               $50,000,000
        Grand Cayman Branches
-------------------------------------------------------------------------------
      Deutsche Bank AG, New York Branch                     $50,000,000
-------------------------------------------------------------------------------
                HSBC Bank USA                               $37,000,000
-------------------------------------------------------------------------------
              Mellon Bank, N.A.                             $37,000,000
-------------------------------------------------------------------------------
             Royal Bank of Canada                           $37,000,000
-------------------------------------------------------------------------------
              ABN AMRO Bank N.V.                            $37,000,000
-------------------------------------------------------------------------------
                Comerica Bank                               $37,000,000
-------------------------------------------------------------------------------
     State Street Bank and Trust Company                    $37,000,000
-------------------------------------------------------------------------------
      Bank of Tokyo-Mitsubishi, Limited                     $37,000,000
-------------------------------------------------------------------------------
             The Bank of New York                           $0.00
-------------------------------------------------------------------------------
                Bank One, N.A.                              $0.00
-------------------------------------------------------------------------------
                     Total                                  $800,000,000
===============================================================================

                                     14THIRD AMENDMENT

     THIS THIRD AMENDMENT dated as of April 5, 2002 (this "Amendment") amends
the Amended and Restated Five Year Credit Agreement dated as of May 8, 2000
and as amended as of October 23, 2000 and as of October 23, 2001 (the "Credit
Agreement") among ACE Limited, a Cayman Islands company (the "Parent"), ACE
Bermuda Insurance Ltd. ("ACE Bermuda"), ACE Tempest Reinsurance Ltd., formerly
known as Tempest Reinsurance Company Limited ("Tempest"), ACE INA Holdings
Inc. ("ACE INA") and ACE Financial Services, Inc. ("ACE Financial")(Ace
Bermuda, Tempest, ACE INA and ACE Financial, together with the Parent, the
"Borrowers"), various financial institutions (the "Lenders"), and JPMorgan
Chase Bank, formerly known as Morgan Guaranty Trust Company of New York, as
administrative agent (in such capacity, the "Agent"). Terms defined in the
Credit Agreement are, unless otherwise defined herein or the context otherwise
requires, used herein as defined therein.

     WHEREAS, the Borrowers, the Lenders and the Agent have entered into the
Credit Agreement; and

     WHEREAS, the parties hereto desire to amend the Credit Agreement in
certain respects as more fully set forth herein;

     NOW, THEREFORE, the parties hereto agree as follows:

     SECTION 1. Amendment to Representations and Warranties of Borrower.
Effective on (and subject to the occurrence of) the Amendment Effective Date
(as defined below), Section 4.01(b) of the Credit Agreement is amended by
adding "as of the Effective Date" at the end thereof.

     SECTION 2. Amendments to Negative Covenants. Effective on (and subject to
the occurrence of) the Amendment Effective Date (as defined below), Section
5.02 of the Credit Agreement shall be amended as set forth below:

     2.1 Amendment to Section 5.02(a)(xviii). Section 5.02(a)(xviii) of the
Credit Agreement shall be amended by deleting the word "and" immediately after
the semi-colon at the end thereof.

     2.2 Amendment to Section 5.02(a)(xix). Section 5.02(a)(xix) of the Credit
Agreement shall be amended by deleting the period at the end thereof and
adding a semi-colon and the word "and" at the end thereof.

     2.3 Amendment to Section 5.02(a). Section 5.02(a) of the Credit Agreement
shall be amended by adding the following immediately after the word "and"
following the semi-colon at the end of subsection (xix) thereof:

                                       1

<PAGE>

     (xx) Liens securing up to an aggregate amount of $200,000,000 of
     obligations of Tempest, the Parent or any wholly owned Subsidiary,
     arising out of catastrophe bond financing.

     SECTION 3. Amendment to Reporting Requirements. Effective on (and subject
to the occurrence of) the Amendment Effective Date (as defined below), the
lead-in to Section 5.03 of the Credit Agreement is amended by replacing the
phrase "the Parent will furnish to the Agents and the Lenders" with the phrase
"the Parent will furnish to the Administrative Agent for distribution to the
Lenders".

     SECTION 4. Representations and Warranties. Each Borrower represents and
warrants to the Agent and the Lenders that (a) each warranty set forth in
Article IV of the Credit Agreement is true and correct as of the date of the
execution and delivery of this Amendment by the Parent, with the same effect
as if made on such date (except to the extent such representations and
warranties expressly refer to an earlier date, in which case they were true
and correct as of such earlier date), (b) the execution and delivery by the
Parent of this Amendment and the performance by each Borrower of its
respective obligations under the Credit Agreement, as amended hereby (as so
amended, the "Amended Credit Agreement") (i) are within the corporate or
limited liability company power, as applicable, of such Borrower, (ii) have
been duly authorized by all necessary corporate action, as applicable, on the
part of such Borrower, (iii) have received all necessary governmental and
regulatory approval and (iv) do not and will not contravene or conflict with
any provision of law or of the organizational documents of any Borrower or of
any indenture, loan agreement or other contract, order or decree which is
binding upon any Borrower and (c) the Amended Credit Agreement is the legal,
valid and binding obligation of each Borrower, enforceable against such
Borrower in accordance with its terms, except as enforceability may be limited
by bankruptcy, insolvency or other similar laws of general application
affecting the enforcement of creditors' rights or by general principles of
equity limiting the availability of equitable remedies.

     SECTION 5. Effectiveness. The amendments set forth in Section 1, Section
2 and Section 3 above shall become effective on such date (the "Amendment
Effective Date") when the Agent shall have received each of the following
documents, each in form and substance satisfactory to the Agent:

     5.1 Executed Counterparts. Counterparts of this Amendment executed by the
Parent and the Required Lenders.

     5.2 Confirmation. A confirmation, substantially in the form of Annex I
attached hereto, executed by each existing Guarantor.

     5.3 Other Documents. Such other documents as the Agent or any Lender may
reasonably request in connection with the authorization, execution and
delivery of this Amendment.

                                       2

<PAGE>

     SECTION 6. Miscellaneous.

     6.1 Continuing Effectiveness, etc. As herein amended, the Credit
Agreement shall remain in full force and effect and is hereby ratified and
confirmed in all respects. After the Amendment Effective Date, all references
in the Credit Agreement and the other Loan Documents to "Credit Agreement",
"Agreement" or similar terms shall refer to the Amended Credit Agreement.

     6.2 Counterparts. This Amendment may be executed in any number of
counterparts and by the different parties on separate counterparts, and each
such counterpart shall be deemed to be an original but all such counterparts
shall together constitute one and the same Amendment.

     6.3 Governing Law. This Amendment shall be a contract made under and
governed by the laws of the State of New York applicable to contracts made and
to be fully performed within such state.

     6.4 Successors and Assigns. This Amendment shall be binding upon each
Borrower, the Lenders and the Agent and their respective successors and
assigns, and shall inure to the benefit of the Borrowers, the Lenders and the
Agent and the respective successors and assigns of the Lenders and the Agent.

                                       3

<PAGE>

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

                           ACE LIMITED

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

                           JPMORGAN CHASE BANK, formerly known
                           as MORGAN GUARANTY TRUST COMPANY
                           OF NEW YORK

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

                           MELLON BANK, N.A.

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

                           BANK OF AMERICA, N.A.

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

                                      S-1

<PAGE>

                           ABN AMRO BANK N.V.

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

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

                           THE BANK OF NEW YORK

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

                           BANK ONE, NA

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

                           BARCLAYS BANK PLC

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

                           CITIBANK, N.A.

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

                                      S-2

<PAGE>

                           DEUTSCHE BANK AG NEW YORK AND/OR
                           CAYMAN ISLANDS BRANCHES

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

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

                           WACHOVIA BANK, NATIONAL
                           ASSOCIATION

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

                           FLEET NATIONAL BANK

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

                           ROYAL BANK OF CANADA

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

                                      S-3

<PAGE>

                           THE BANK OF TOKYO-MITSUBISHI, LTD.
                           NEW YORK BRANCH

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

                           BNP PARIBAS

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

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

                           CREDIT LYONNAIS NEW YORK BRANCH

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

                           LLOYDS TSB BANK PLC

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

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

                                      S-4

<PAGE>

                           STATE STREET BANK AND TRUST
                           COMPANY

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

                                      S-5

<PAGE>

                                                                 Annex I

                                 CONFIRMATION

                           Dated as of April 5, 2002

To:  JPMorgan Chase Bank, individually and as Agent, and the other financial
     institutions party to the Credit Agreement referred to below

     Please refer to: (a) the Amended and Restated Five Year Credit Agreement
dated as of May 8, 2000 and as amended as of October 23, 2000 and as of
October 23, 2001 (the "Credit Agreement") among ACE Limited, ACE Bermuda
Insurance Ltd., ACE Tempest Reinsurance Ltd., formerly known as Tempest
Reinsurance Company Limited , ACE INA Holdings Inc. and ACE Financial
Services, Inc. (Ace Bermuda, Tempest, ACE INA and ACE Financial, together with
ACE Limited, the "Borrowers"), various financial institutions (the "Lenders"),
and JPMorgan Chase Bank, as administrative agent (in such capacity, the
"Agent"); (b) the other "Loan Documents" (as defined in the Credit Agreement),
including the Guaranty; and (c) the Third Amendment dated as of April 5, 2002
to the Credit Agreement (the "Third Amendment").

     Each of the undersigned hereby confirms to the Agent and the Lenders
that, after giving effect to the Third Amendment and the transactions
contemplated thereby, each Loan Document to which such undersigned is a party
continues in full force and effect and is the legal, valid and binding
obligation of such undersigned, enforceable against such undersigned in
accordance with its terms.

                           ACE LIMITED

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:         --------------------------------------

                            By: ------------------------------------------------
                            Name Printed:  -------------------------------------
                            Title: ---------------------------------------------

                                       1

<PAGE>

                           ACE BERMUDA INSURANCE LTD.

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:  ---------------------------------------------

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:  ---------------------------------------------

                           ACE TEMPEST REINSURANCE LTD.,
                           formerly known as TEMPEST REINSURANCE
                           COMPANY LIMITED

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:  ---------------------------------------------

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:  ---------------------------------------------

                           ACE INA HOLDINGS INC.

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:  ---------------------------------------------

                           By:  ------------------------------------------------
                           Name Printed:  --------------------------------------
                           Title:  ---------------------------------------------

                                                         2

<PAGE>

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