ACE LTD. announced this week the departure of John Charman as group president and chief executive officer of the ACE International Group.

Brian Duperreault, chairman and chief executive officer of ACE Limited, said: ãThis development occurred as a result of differences between us over personnel matters.ä

Duperreault said that with the departure of Charman, the president and chief executive officer of each of the business units comprising the ACE International Group will report directly to him.

They are ACE Global Markets and ACE Europe, ACE Far East, ACE Asia Pacific and ACE Latin America. ãOne of the many characteristics that differentiates ACE is the depth and strength of the management leading our operating units. Since each of these units is semi-autonomous and staffed with a highly qualified chief executive, I have no doubt our regional operations wonât miss a beat in staying focused on their business goals,ä Duperreault said. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business with operating subsidiaries in nearly 50 countries.