-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BP5KKgKCm+FCZC4WqbNkzIItQ60xSd0ogYSGwdqiip3Ijc1pEwVeVFv6MBnrNjyp
 DrJEb824oMvcoeDcsgG2Lg==

<SEC-DOCUMENT>0001181431-03-011981.txt : 20030630
<SEC-HEADER>0001181431-03-011981.hdr.sgml : 20030630
<ACCEPTANCE-DATETIME>20030630134250
ACCESSION NUMBER:		0001181431-03-011981
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030627
FILED AS OF DATE:		20030630

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACE LTD
		CENTRAL INDEX KEY:			0000896159
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ACE BLDG
		STREET 2:		30 WOODBOURNE AVE
		CITY:			HAMILTON HM 08 BERMU
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		8092955200

	MAIL ADDRESS:	
		STREET 1:		P O BOX HM 1015
		CITY:			HAMITON BERMUDA
		STATE:			D0
		ZIP:			00000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MENIKOFF PETER
		CENTRAL INDEX KEY:			0001072510

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11778
		FILM NUMBER:		03763560

	BUSINESS ADDRESS:	
		STREET 1:		3 WILLOWICK CIRCLE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		7137833309

	MAIL ADDRESS:	
		STREET 1:		3 WILLOWICK CIRCLE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd12031.xml
<DESCRIPTION>FORM 4 FOR 6/27 DIRECTOR MEETING AWARD
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-06-27</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000896159</issuerCik>
        <issuerName>ACE LTD</issuerName>
        <issuerTradingSymbol>ACE</issuerTradingSymbol></issuer>
<reportingOwner>
<reportingOwnerId>
            <rptOwnerCik>0001072510</rptOwnerCik>
            <rptOwnerName>MENIKOFF PETER</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText></reportingOwnerRelationship></reportingOwner>
<nonDerivativeSecurity>
<securityTitle>
<value>Ordinary Shares</value></securityTitle>
<transactionDate>
<value>2003-06-27</value></transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F1"/></transactionCoding>
<transactionTimeliness>
<value></value></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>86</value>
<footnoteId id="F1"/></transactionShares>
<transactionValue>
<value>0.00</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>31129.872</value>
<footnoteId id="F2"/></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></nonDerivativeSecurity>
<footnotes>
<footnote id="F1">Represents Ordinary Shares granted as board, commitee meeting or chairman award pursuant to the ACE Limited 1995 Outside Directors Plan (the &quot;Plan&quot;).  Reporting person has elected to defer receipt of such Ordinary Shares in accordance with the terms of the Plan.</footnote>
<footnote id="F2">Reporting person also directly owns 4,000 Depositary Shares, with each Depositary Share equal to 1/10 of each share of ACE Limited 7.80% Cumulative Redeemable Preferred Stock.</footnote></footnotes>
<ownerSignature>
<signatureName>Signed for Peter Menikoff by Peter Mear pursuant to a power of attorney on file with the Securities and Exchange Commission</signatureName>
<signatureDate>2003-06-30</signatureDate></ownerSignature></ownershipDocument>


</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----