Exhibit 5.1





                                                    Effective Date:
                                                      9 April, 2002



The New York Stock Exchange, Inc.
20 Broad Street
New York
New York  10005




Dear Sirs,

Re:   ACE Limited (the "Company") - Form S-8 Registration Statement

We have been asked to render this opinion in our capacity as counsel as to
Cayman Islands law to the Company in connection with the registration pursuant
to a Registration Statement on Form S-8 (the "Registration Statement") under the
Securities Act of 1933, as Amended (the "Act") of 500,000 of the Company's
authorised but unissued Ordinary Shares, par value US$0.041666667 per share, to
be issued pursuant to the Outside Directors Compensation Plan (the "Plan")
approved by Resolutions of the Board on 28 July, 1995, 9 February, 1996 and 1
March, 2002.

We have reviewed the Company's Memorandum and Articles of Association (as
amended). We have relied in giving this opinion on certifications from the
Company's Officers.

We assume that all subscription monies due in respect of shares issued by the
Company have been or will be duly received by the Company. We further assume
that all Ordinary Shares to be newly issued in accordance with the Plan (the
"Ordinary Shares") have been reserved for issuance and that there are no
intervening changes in the Plan, the Company's Memorandum and Articles of
Association, the laws of the Cayman Islands or any other relevant matter.

On the basis of the foregoing, we would advise as follows:-

1.   The Company's  authorised capital includes  500,000,000  Ordinary Shares
     of US$0.041666667 each and 20,000,000 "Other Shares" of US$1.00 each.

2.   The Company has sufficient authorised share capital to issue the
     Ordinary Shares and the issue thereof is within the power of the
     Company's Board of Directors. The Ordinary Shares to be issued in
     accordance with the Plan have been duly authorised and when issued and
     registered in the Company's Share Register in accordance with the
     provisions of the Plan will be legally and validly issued.

3.   On the basis that the contractual subscription price (being not less
     than the par value) of the Ordinary Shares is fully paid in cash or
     other consideration approved by the Board of Directors or a duly
     established Committee thereof, such Ordinary Shares issued or to be
     issued may properly be credited as fully paid under Cayman Islands law.





4.   Fully paid shares are not subject to further calls or assessments by the
     Company.

5.   The Company has been incorporated as an exempted company under the
     Companies Law of the Cayman Islands and the liability of its
     shareholders is limited to the amount, if any, unpaid on their shares
     (see Clause 5 of the Memorandum of Association). On the basis that all
     such shares are fully paid, there is no rule of Cayman Islands law that
     would impose any further liability on person holding shares in the
     Company, merely by reason of such shareholding.

Except as specifically stated herein, we make no comment with regard to any
representations which may be made by the Company in any of the documents
referred to above or otherwise.

This opinion is addressed solely to you. It is not to be transmitted to anyone
else nor is it to be relied upon by anyone else or for any other purpose or
quoted or referred to in any public document without our express consent.

                                  Yours faithfully,



                                  Maples and Calder