-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-05-021874.txt : 20050413
<SEC-HEADER>0001181431-05-021874.hdr.sgml : 20050413
<ACCEPTANCE-DATETIME>20050413095138
ACCESSION NUMBER:		0001181431-05-021874
CONFORMED SUBMISSION TYPE:	3/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041231
FILED AS OF DATE:		20050413
DATE AS OF CHANGE:		20050413

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:			SCHMALZRIEDT GARY T
		CENTRAL INDEX KEY:			0001092932

	FILING VALUES:
		FORM TYPE:		3/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11778
		FILM NUMBER:		05747460

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		4412955200

	MAIL ADDRESS:	
		STREET 1:		ACE LTD ACE BUILDING 30 WOODBOURNE AVE
		STREET 2:		HAMILTON HM 08
		CITY:			BERMUDA
</SEC-HEADER>
<DOCUMENT>
<TYPE>3/A
<SEQUENCE>1
<FILENAME>rrd75403.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2004-12-31</periodOfReport>

    <dateOfOriginalSubmission>2005-03-10</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000896159</issuerCik>
        <issuerName>ACE LTD</issuerName>
        <issuerTradingSymbol>ACE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001092932</rptOwnerCik>
            <rptOwnerName>SCHMALZRIEDT GARY T</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ACE OVERSEAS GENERAL</rptOwnerStreet1>
            <rptOwnerStreet2>1325 AVENUE OF THE AMERICAS</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Subsidiary Chairman &amp; CEO*</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>124109.474</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>28.0625</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2009-07-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>30000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>36.30</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-02-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>38500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.90</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2012-02-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>60000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>27.57</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-02-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>48000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>32.58</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-08-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.56</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-02-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>27000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Options to Acquire Ordinary Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>43.56</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F7"/>
                <footnoteId id="F8"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-02-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Of the total, 50,750 were received at various times pursuant to ACE Limited long-term incentive plans.  Stock vests as follows: 1/4 of the first anniversary of the date of the award, 1/4 on the second anniversary of the date of the award, 1/4 on the thirs anniversary of the date of the award and 1/4 on the fourth anniversary of the date of the award, with 18,750 vesting in February 2005, 16,000 vesting in February 2206, 11,000 vesting in February 2007 and 5,000 vesting in February 2008.</footnote>
        <footnote id="F2">Option award pursuant to the ACE Limited 1998 Long-Term Incentive Plan granted on 07/02/1999.  Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.</footnote>
        <footnote id="F3">Option award pursuant to the ACE Limited 1995 Long-Term Incentive Plan granted on 02/22/2001.  Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.</footnote>
        <footnote id="F4">Option award pursuant to the ACE Limited 1998 Long-Term Incentive Plan granted on 02/28/2002.  Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.</footnote>
        <footnote id="F5">Option award pursuant to the ACE Limited 1998 Long-Term Incentive Plan granted on 02/27/2003.  Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.</footnote>
        <footnote id="F6">Option award pursuant to the ACE Limited 1998 Long-Term Incentive Plan granted on 08/06/2003.  Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.</footnote>
        <footnote id="F7">Option award pursuant to the ACE Limited 1998 Long-Term Incentive Plan granted on 02/25/2004.  Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the date of the award and 1/3 on the third anniversay of the date of the award.</footnote>
        <footnote id="F8">Option award pursuant to the ACE Limited 1998 Long-Term Incentive Plan granted on 02/25/2004.  Options will vest on the fifth anniversay of the date of the award.</footnote>
    </footnotes>

    <remarks>*Chairman &amp; CEO, ACE Overseas General</remarks>

    <ownerSignature>
        <signatureName>Signed for Gary T. Schmalzriedt by Keith White Pursuant to a power of attorney</signatureName>
        <signatureDate>2005-04-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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