2008-09-23 23:58:02 -

www.sovereignbermuda.com - Sovereign Risk Insurance Ltd. ("Sovereign"), announced today that Sophie Demeyer will join Sovereign as a Vice President and Senior Underwriting Officer. She will replace Nila Davda, who is relocating to open Sovereign's office in Dubai.

Ms. Demeyer comes to Sovereign from a 13-year career in banking, including seven years as a Senior Manager in Fortis Bank's Global

Export and Project Finance group in Brussels where, among other duties, she helped coordinate the bank's utilization of political risk insurance. Ms. Demeyer has a Law Degree and a Postgraduate Degree in International Relations from the University of Leuven in Belgium, as well as a Masters of Law Degree from the University of London, King's College.

"We are delighted to have Sophie joining our team," said Sovereign President and CEO, Price Lowenstein. "Her legal background, as well as her experience working in a bank which is strong in emerging markets, fits in very well with our business. Sophie will be a valuable addition to the Sovereign team here in Bermuda and we look forward to her starting work in early October."

Sovereign is one of the world's leading providers of political risk insurance and reinsurance. Sovereign's portfolio exceeds $13 billion of exposure spread over 100 emerging markets. Sovereign's clients include financial institutions, national export credit agencies, leading multilateral agencies and multinational corporations. Sovereign is also a member of the Berne Union (the International Union of Credit and Investment Insurers). Sovereign is a subsidiary of ACE Bermuda Insurance Ltd., a member of the ACE Group of Companies. Headed by ACE Limited (NYSE: ACE), the ACE Group of Companies is a global leader in insurance and reinsurance and conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries.

Additional information is available on Sovereign's website: www.sovereignbermuda.com.

Sovereign Risk Insurance Ltd., Hamilton
Price Lowenstein, 441-298-8056
price.lowenstein@ace.bm