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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
[X] Check box if no longer subject to 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*
CHARMAN John R.
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(Last) (First) (Middle)
c/o ACE Global Markets Ltd.
Crosby Court, 38 Bishopsgate
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(Street)
London EC2N 4DL England
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
ACE Limited (NYSE:ACL)
_______________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
_______________________________________________________________________________
4. Statement for Month/Year
December 1999
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5. If Amendment, Date of Original (Month/Year)
_______________________________________________________________________________
6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [X] Other (specify below)
Chief Executive Officer, ACE Global Markets Ltd.
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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
_______________________________________________________________________________
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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) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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Ordinary Shares 11/18/99 A(1) 20,000 A (1) 841,053 D
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Ordinary Shares 24,619 I(2) By ACE
Trustees
Limited
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Ordinary Shares 2,436,038 I(3) By Trusts
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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.
(Over)
(Form 5-07/98)
<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 $19.3125 11/18/99 A 60,000 (4) 11/18/2009 Ordinary 60,000 (5) 160,000 D
Shares
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Explanation of Responses:
(1) Award of restricted stock pursuant to ACE Limited Long-Term Incentive Plan. Stock vests as follows: 1/4 on first anniversary
of date of award, 1/4 on second anniversary of date of award, 1/4 on third anniversary of date of award, and 1/4 on fourth
anniversary of date of award.
(2) The reporting person is a director of ACE Trustees Limited and, under the rules of the SEC, may be deemed to have
beneficial ownership of such shares.
(3) The reporting person and/or members of his immediate family are beneficiaries of certain trusts, and under the rules of the
SEC, may be deemed to have beneficial ownership of such shares.
(4) 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.
(5) Option award pursuant to ACE Limited 1995 Long-Term Incentive Plan.
/s/ Peter Mear 10th Feb. 2000
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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.
Page 2
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