Document:

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                                                                    Exhibit 4.13

                      ASSIGNMENT AND ASSUMPTION AGREEMENT
                                      AND
                             FIRST AMENDMENT TO THE
                               TRUST AGREEMENT OF
                             ACE CAPITAL TRUST III

     This Assignment and Assumption Agreement and First Amendment to the Trust
Agreement of ACE Capital Trust III (the "Trust"), dated as of August 5, 1999
(this "Assignment and Amendment Agreement"), is made and entered into by and
among ACE Limited, a Cayman Islands company limited by shares, as the original
depositor (the "Original Depositor"), ACE INA Holdings Inc., a Delaware
corporation, as the substitute depositor (the "Substitute Depositor"), The First
National Bank of Chicago, a national banking association, as property trustee
(the "Property Trustee"), Bank One Delaware, Inc., a Delaware corporation, as
trustee (the "Delaware Trustee"), and Robert A. Blee, an individual, as trustee
(the "Administrative Trustee") (the Property Trustee, the Delaware Trustee and
the Administrative Trustee being hereinafter collectively referred to as the
"Trustees").

                                   WITNESSETH
                                   ----------

     WHEREAS, the Trust is a Delaware business trust that was created under
Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. (S) 3801, et seq.
pursuant to (i) the Trust Agreement of the Trust, dated as of May 19, 1999 (the
"Trust Agreement"), and (ii) the Certificate of the Trust of the Trust, dated as
of May 19, 1999, as filed with the office of the Secretary of State of the State
of Delaware on May 19, 1999;

     WHEREAS, the Original Depositor, as the depositor under the Trust
Agreement, desires to assign, transfer and convey all of its right, title and
interest in the Trust (the "Depositor's Interest") to the Substitute Depositor,
and the Original Depositor desires to cease to be the depositor of the Trust;

     WHEREAS, the Substitute Depositor desires to acquire the Depositor's
Interest currently held by the Original Depositor, and the Substitute Depositor
desires to become the depositor of the Trust; and

     WHEREAS, the undersigned, being the Original Depositor, the Substitute
Depositor and all the Trustees of the Trust, to accomplish the foregoing, desire
to amend the Trust Agreement in the manner set forth herein.

     NOW, THEREFORE, in consideration of the mutual promises and obligations
contained herein, the parties, intending to be legally bound, hereby agree as
follows:

     1. Assignment. Notwithstanding any provision in the Trust Agreement to the
contrary, for value received, the receipt and sufficiency of which are hereby
acknowledged, upon the execution of this Assignment and Amendment Agreement by
the parties hereto, the Original

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Depositor does hereby assign, transfer and convey the Depositor's Interest to
the Substitute Depositor.

     2. Substitution. Notwithstanding any provision in the Trust Agreement to
the contrary, contemporaneously with the assignment described in Section 1 of
this Assignment and Amendment Agreement, the Substitute Depositor shall become
the d3epositor of the Trust and shall have all rights, powers and obligations of
the Depositor (as such term is used in the Trust Agreement) under the Trust
Agreement.

     3. Cessation. Notwithstanding any provision in the Trust Agreement to the
contrary, immediately following the Substitute Depositor becoming the depositor
of the Trust, the Original Depositor shall cease to be the depositor of the
Trust, and shall thereupon cease to have any right, obligation or power as the
depositor of the Trust.

     4. Continuation of the Trust. The parties hereto agree that (i) the
assignment of the Depositor's Interest, the Substitute Depositor becoming the
depositor of the Trust and the Original Depositor's ceasing to be the depositor
of the Trust shall not dissolve the Trust and (ii) the business of the Trust
shall continue without dissolution.

     5. Successors and Assigns. This Assignment and Amendment Agreement shall be
binding upon, and shall enure to the benefit of, the parties hereto and their
respective successors and assigns.

     6. Full Force and Effect. Except to the extent modified hereby, the Trust
Agreement shall remain in full force and effect.

     7. Counterparts. This Assignment and Amendment Agreement may be executed in
counterparts, all of which together shall constitute one agreement binding on
all parties hereto, notwithstanding that all such parties are not signatories to
the original or same counterpart.

     8. Governing Law. This Assignment and Amendment Agreement shall be
interpreted in accordance with the laws of the State of Delaware (without regard
to conflict of laws principles), all rights and remedies being governed by such
laws.

     9. Effectiveness of Amendment. This Assignment and Amendment Agreement
shall become a legally effective and binding instrument as of the date hereof.

                            [SIGNATURE PAGES FOLLOW]

                                      -2-

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     IN WITNESS WHEREOF, the undersigned have executed this Assignment and
Amendment Agreement as of the day and year first above written.

                                     ACE LIMITED,
                                     as Original Depositor

                                     By:  /s/ Robert Blee
                                         ---------------------------------------
                                     Name:  Robert Blee
                                     Title: Chief Accounting Officer

                                     ACE INA HOLDINGS INC.,
                                     as Substitute Depositor

                                     By:  /s/ Chris Marshall
                                         ---------------------------------------
                                     Name:  Chris Marshall
                                     Title: Director & Treasurer

                                     THE FIRST NATIONAL BANK OF
                                     CHICAGO, not in its individual capacity but
                                     solely as trustee of the Trust

                                     By:  /s/ Sandra L. Caruba
                                         ---------------------------------------
                                     Name:  Sandra L. Caruba
                                     Title: Vice President

                                     BANK ONE DELAWARE, INC., not in its
                                     individual capacity but solely as trustee
                                     of the Trust

                                     By:  /s/ Sandra L. Caruba
                                         ---------------------------------------
                                     Name:  Sandra L. Caruba
                                     Title: Vice President

                                     By:  /s/ Robert Blee
                                         ---------------------------------------
                                     ROBERT A. BLEE, not in his individual
                                     capacity but solely as trustee of the Trust

                                      -3-<PAGE>
                                                                    Exhibit 4.14

                                 AMENDMENT NO. 2
                                 --------------
                 TO THE TRUST AGREEMENT OF ACE CAPITAL TRUST III
                 -----------------------------------------------

     This Amendment No. 2 to the Trust Agreement of ACE Capital Trust III (the
"Trust"), dated as of May 14, 2002 (this Amendment"), is entered into among ACE
INA Holdings Inc., a Delaware corporation, as depositor (the "Depositor"), and
Bank One Trust Company, N.A., as trustee (the "Property Trustee"), Bank One
Delaware, Inc., as trustee (the "Delaware Trustee"), and Robert A. Blee, as
administrative trustee (the "Administrative Trustee").

         WHEREAS, certain of the parties hereto entered into a Trust Agreement
of the Trust, dated as of May 19, 1999, as amended by that certain Assignment
and Assumption Agreement and First Amendment to the Trust Agreement of the Trust
(as so amended, the "Original Trust Agreement"), and a Certificate of Trust of
the Trust was filed with the Secretary of State of the State of Delaware on May
19, 1999;

     WHEREAS, Bank One Trust Company, N.A. is successor in interest to The First
 National Bank of Chicago; and

     WHEREAS, to reflect the foregoing, the parties hereto desire to amend
the Original Trust Agreement.

         IN WITNESS WHEREOF, the undersigned, intending to be legally bound
hereby, agree as follows:

                                    AMENDMENT

                  The undersigned hereby confirm that the Property Trustee is
Bank One Trust Company, N.A.

                                  MISCELLANEOUS

     1. This Amendment shall be binding upon, and shall enure to the benefit of,
 the parties hereto and their respective successors and assigns.

     2. This Amendment may be executed in counterparts, all of which
together shall constitute one agreement binding on all parties hereto,
notwithstanding that all such parties are not signatories to the original or
same counterpart.

     3. This Amendment shall be interpreted in accordance with the laws of
the State of Delaware (without regard to conflict of laws principles), all
rights and remedies being governed by such laws.

     4. Except as modified by this Amendment, the Original Trust Agreement will
remain in full force and effect.

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first above written.

                                            ACE INA HOLDINGS INC.,
                                            as Depositor

                                            By:/s/ ROBERT B. JEFFERSON
                                               ---------------------------------
                                             Name: Robert B. Jefferson
                                             Title: Treasurer and Chief
                                                      Financial Officer

                                            BANK ONE TRUST COMPANY, N.A.,
                                            as Property Trustee

                                            By: /s/ SANDRA L. CARUBA
                                               ---------------------------------
                                               Name: Sandra L. Caruba
                                               Title: Vice President

                                            BANK ONE DELAWARE, INC.,
                                            as Delaware Trustee

                                             /s/ SANDRA L. CARUBA
                                            -----------------------------------
                                            Sandra L. Caruba
                                            Vice President

                                            ROBERT A. BLEE,
                                            as Administrative Trustee

                                            /s/ ROBERT A.  BLEE
                                            ------------------------------------

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