8-K

                     SECURITIES AND EXCHANGE COMMISSION
                           Washington D.C. 20549

                                  FORM 8-K

                               Current Report

                   Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported): December 20, 2001


                                ACE LIMITED
           (Exact name of registrant as specified in its charter)


        Cayman Islands           1-11778              98-0091805
(State or other jurisdiction   (Commission          (I.R.S. Employer
      of incorporation)        File Number)        Identification No.)


               The ACE Building
           ACE Global Headquarters
            17 Woodbourne Avenue
              Hamilton, Bermuda                                HM 08
    (Address of principal executive offices)                (Zip Code)


Registrant's telephone number, including area code: (441) 295-5200


                                Not Applicable
       (Former name or former address, if changed since last report)







Item 5.  Other Information

         ACE Limited (the "Company") has announced that it will change its
transfer agent for Ordinary Shares from The Bank of New York to Mellon
Investor Services LLC ("Mellon"), effective as of the close of business on
December 31, 2001. Mellon will also serve as rights agent under the
Company's shareholders' rights plan and will administer the dividend
reinvestment plan, in each case effective as of the close of business on
December 31, 2001.

         The Company previously announced that Meryl Hartzband resigned
from the Company's Board of Directors, effective October 5, 2001 and that
Dominic Frederico was appointed to the Company's Board of Directors,
effective November 16, 2001.

Item 7. Financial Statements and Exhibits.

            Attached as Exhibit 99.1 is a copy of the letter to shareholders,
dated December 13, 2001.






                                 SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

Dated: December 21, 2001                   ACE LIMITED

                                           By:  /s/ Christopher Z. Marshall
                                                ---------------------------
                                                Christopher Z. Marshall
                                                Chief Financial Officer






                                     EXHIBIT INDEX

Exhibit
Number                       Description
- ------                       -----------
99.1            Letter to shareholders, dated December 13, 2001

EX-99.1

                   ACE Limited             PO Box HM 1015   441 295-5200 main
                   ACE Global Headquarters Hamilton HM DX   441 296-0087 fax
                   17 Woodbourne Avenue    Bermuda
                   Hamilton HM 08                           www.acelimited.com
                   Bermuda






December 13, 2001

Dear Shareholder:


Effective December 31st, 2001, Mellon Investor Services LLC will become
Transfer Agent, Registrar, Dividend Reinvestment Agent and Dividend
Disbursing Agent for ACE Limited, as well as agent under our rights
agreement. This business is being transferred from our current Transfer
Agent, The Bank of New York ("BONY").


Mellon Investor Services LLC, a subsidiary of Mellon Financial Corporation,
is a global leader of shareholder services providers. Their comprehensive
automated telephone support services are available 24 hours per day, 7 days
per week. You can access your account and will be able to effect a wide
variety of transactions over the telephone. In addition, Mellon Investor
Services' experienced staff is available to you by Internet, email and
mail.

Beginning December 31st, 2001, all inquiries and correspondence regarding
your ACE common stock should be addressed to Mellon Investor Services LLC.
These inquiries would include the following:

       o   Dividend Reinvestment Plan
       o   Lost Certificates
       o   Changes in name, address or ownership
       o   Consolidation of multiple accounts

Mellon Investor Services LLC may be reached as follows:

       Internet:          http://www.mellon-investor.com
       Email:             shrrelations@melloninvestor.com
       Telephone:         1-888-224-2732

                          Customer Service Representatives are available
                          9:00am to 7:00pm Eastern Standard Time.

       Regular Mail:      Mellon Investor Services LLC
                          P. O. Box 3315
                          South Hackensack, NJ  07606-1915



       Registered or
       Overnight Mail:    Mellon Investor Services LLC
                          85 Challenger Road
                          Ridgefield Park, NJ  07660





Please note, however, that all 2001 tax inquiries, including replacement of
1099's, should be directed to our former Transfer Agent, the Bank of New
York. Also, any checks issued prior to December 31st, 2001, will be handled
by BONY through the end of June 2002.


As a result of this announcement, please be advised that BONY will no
longer be responsible for the Dividend Reinvestment Plan. You will not be
able to sell or withdraw your plan shares in accordance with the plan
between December 21st, 2001 and December 28th, 2001. On December 31st,
2001, Mellon Investor Services LLC will assume the responsibility for the
Plan and all activities pertaining to your account will resume.


We are confident that Mellon Investor Services' commitment to shareholder
satisfaction will meet your high expectations for quality and timely
service.


Sincerely,



Keith P. White
Chief Administration Officer