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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
WHITE Keith P.
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(Last) (First) (Middle)
c/o ACE Limited
The ACE Building, 30 Woodbourne Ave.
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(Street)
Hamilton HM 08 BERMUDA
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
ACE Limited (NYSE:ACL)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
September 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Chief Administration Officer
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7. Individual or Joint/Group Filing
(Check applicable line)
[ X ] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
5. 6.
4. Amount of Owner-
Securities Acquired (A) or Securities ship
Disposed of (D) Beneficially Form: 7.
(Instr. 3, 4 and 5) Owned at End Direct Nature of
2. 3. ----------------------------- of Issuer's (D) or Indirect
1. Transaction Transaction (A) Fiscal Year Indirect Beneficial
Title of Security Date Code Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) (Instr. 8) (D) & 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Ordinary Shares 10/7/97 A(1) 90 A $79.90 D
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Ordinary Shares 4/7/98 A(1) 224 A $32.0344 41,345(2) D
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Ordinary Shares 1,200(2) I By spouse
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</TABLE>
* If the form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
<PAGE>
FORM 5 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- Securities Date Securities Price Bene- ity: In-
cise 3. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Instr. ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Options to acquire $90.00 11/12/97 A 12,000 (3) 11/12/2007 Ordinary 12,000 (4) 198,000(2) D
Shares
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Explanation of Responses:
(1) Purchase pursuant to ACE Limited Employee Stock Purchase Plan.
(2) On February 17, 1998, the Ordinary Shares of ACE Limited split 3-for-1. Transactions prior to that date are thus reported on a
pre-split basis, with respect to both the number of shares and, where applicable, the option exercise price. The totals in
column 5 of Table I and column 9 of Table II have been adjusted, however, to give effect to the stock split.
(3) Options become exercisable as follows: 1/3 on first anniversary of date of award, 1/3 on second anniversary of date of award,
and 1/3 on third anniversary of date of award.
(4) Option award pursuant to ACE Limited 1995 Long-Term Incentive Plan.
</TABLE>
Signed for Keith P. White pursuant
to a power of attorney on file with
the Securities and Exchange Commission
/s/ Peter N. Mear November 12, 1998
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Alternatively, this Form is permitted to be submitted to the Commission in
electronic format at the option of the reporting person pursuant to Rule
101(b)(4) of Regulation S-T.
Page 2 of 2
(122795DTI)
