As filed with the Securities and Exchange Commission on March 10, 2003
Registration No. 333-_______

SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM S-8
 REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ACE LIMITED
 (Exact name of registrant as specified in its charter)

      CAYMAN ISLANDS                                           98-0091805
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                             Identification No.)	

The ACE Building
17 Woodbourne Avenue
Hamilton HM 08, Bermuda
(Address of principal executive offices) (zip code)

ACE Limited 1995 Long-Term Incentive Plan
 (Full title of the plan)
Brian Duperreault
ACE Limited
c/o CT Corporation System
1633 Broadway
New York, New York 10019
(Name and address of agent for service)
Telephone number, including area code, of agent for service: (441) 295-5200
copy to
Laura D. Richman
Mayer, Brown, Rowe & Maw
190 S. LaSalle Street
Chicago, Illinois 60603

CALCULATION OF REGISTRATION FEE

                                  Proposed       Proposed
                                  Maximum        Maximum           Amount
   Title of         Amount        Offering       Aggregate           of
Securities to       to be         Price Per      Offering       Registration
be Registered     Registered      Share(1)       Price(1)           Fee
-------------------------------------------------------------------------------
 Ordinary
  Shares
$.041666667
par value (2)     3,000,000       $27.01        $81,030,000        $6,556
-------------------------------------------------------------------------------	

(1) Estimated solely for the purpose of computing the registration fee, pursuant to Rule 457(c) under the Securities Act of 1933 on the basis of the average of the high and low prices of the Ordinary Shares reported on the New York Stock Exchange Composite Tape on March 6, 2003.
(2) Also includes preferred share purchase rights. Prior to the occurrence of certain events, the Rights will not be exercisable or evidenced separately from the Ordinary Shares.

Pursuant to General Instruction E to Form S-8, the contents of the Company's Registration Statement on Form S-8, File No. 333-1402 and the contents of the Company's Registration Statement on Form S-8, File No. 333-72299 (the "Prior Registration Statements") are incorporated herein by reference. This Registration Statement covers shares which, together with the 9,464,058 shares (after giving effect to the stock split) being carried forward from the Prior Registration Statements and upon which a fee has been paid, constitute the 12,464,058 registered shares issuable under the ACE Limited 1995 Long-Term Incentive Plan.
PART II
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
Item 8. Exhibits.
4.1 Memorandum of Association of the Company (Incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the year ended September 30, 1998).
4.2 Articles of Association of the Company (Incorporated by reference to Exhibit 3.2 to the Company's Annual Report on Form 10-K for the year September 30, 1998).
4.3 Specimen certificate representing Ordinary Shares (Incorporated by reference to Exhibit 4.3 to the Company's Annual Report on Form 10-K for the year ended December 31, 2001).
4.4 Special Resolutions adopted January 22, 2002 increasing the number of Ordinary Shares and Other Shares (incorporated by reference to Exhibit 3.3 to the Company's Annual Report on Form 10-K for the year ended December 31, 2001).
5.1 Opinion of Maples and Calder as to the legality of the Ordinary Shares.
23.1 Consent of PricewaterhouseCoopers LLP.
23.2 Consent of Maples and Calder (included in Exhibit 5.1).
24.1 Powers of Attorney (included in signature pages).
99.1 Appointment of CT Corporation as U.S. agent for service of process (Incorporation by reference to Exhibit 99.1 to Registration Statement on Form S-1 of the Company (No. 33-72118)).
99.2 Confirmation of appointment of CT Corporation System as U.S. agent for service of process (Incorporation by reference to Exhibit 99.2 to Registration Statement on Form S-3 of the Company (No.333-49257)).
S-2

SIGNATURES
Each person whose signature appears below constitutes and appoints, Brian Duperreault, Philip Bancroft, Peter N. Mear and Keith White and each of them, the true and lawful attorneys-in-fact and agents of the undersigned, with full power of substitution and resubstitution, for and in the name, place and stead of the undersigned, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and hereby grants to such attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done, full to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Hamilton, Bermuda, on February 27, 2003.
ACE Limited

By:  /s/ Brian Duperreault
     ---------------------------------------
Its:  Chairman and Chief Executive Officer	

        Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in
the capacities and on the dates indicated.

Signature                      Title                                          Date
---------                      -----                                          ----

 /s/ Brian Duperreault                                                        February 27, 2003
-----------------------        Chairman and Chief Executive
Brian Duperreault                Officer; Director

/s/ Dominic Frederico                                                         February 27, 2003
-----------------------        President, Chief Operating Officer;
Dominic Frederico                Director

 /s/ Philip V. Bancroft                                                       February 27, 2003
-----------------------        Chief Financial Officer;
Philip V. Bancroft               (Principal Financial
                                 Officer)

/s/ Robert A. Blee                                                            February 27, 2003
-----------------------        Chief Accounting Officer;
Robert A. Blee                   (Principal Accounting
                                 Officer)

/s/ Donald Kramer                                                             February 27, 2003
-----------------------        Vice Chairman; Director
Donald Kramer

/s/ Evan Greenberg
-----------------------        Vice Chairman, Director                        February 27, 2003
Evan Greenberg

                                    S-3	

/s/ Michael G. Atieh
-----------------------        Director                                       February 27, 2003
Michael G. Atieh

/s/ Bruce L. Crockett          Director                                       February 27, 2003
-----------------------
Bruce L. Crockett

/s/ Robert M. Hernandez
-----------------------        Director                                       February 27, 2003
Robert M. Hernandez

/s/ John A. Krol
-----------------------        Director                                       February 27, 2003
John A. Krol

/s/ Peter Menikoff
-----------------------        Director                                       February 27, 2003
Peter Menikoff

/s/ Thomas J. Neff
-----------------------        Director                                       February 27, 2003
Thomas J. Neff

/s/ Robert Ripp
-----------------------        Director                                       February 27, 2003
Robert Ripp

/s/ Walter A. Scott
-----------------------        Director                                       February 27, 2003
Walter A. Scott

/s/ Dermot F. Smurfit
-----------------------        Director                                       February 27, 2003
Dermot F. Smurfit

/s/ Robert W. Staley
-----------------------        Director                                       February 27, 2003
Robert W. Staley

/s/ Gary M. Stuart
-----------------------        Director                                       February 27, 2003
Gary M. Stuart	

S-4

AUTHORIZED REPRESENTATIVE
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the undersigned as the duly authorized representative of ACE Limited in the United States.

/s/ Brian Duperreault
------------------------------
Brian Duperreault

Date:  February 27, 2003	

S-5

EXHIBIT INDEX

Exhibit
Number         Description of Document
-------        -----------------------
  4.1          Memorandum of Association of the Company
               (Incorporated by reference to Exhibit 3.1 to the
               Company's Annual Report on Form 10-K for the year
               ended September 30, 1998)

  4.2          Articles of Association of the Company (Incorporated
               by reference to Exhibit 3.2 to the Company's Annual
               Report on Form 10-K for the year ended
               September 30, 1998)

  4.3          Specimen certificate representing Ordinary Shares
               (Incorporated by reference to Exhibit 4.3 to the
               Company's Annual Report on Form 10-K for the year
               ended December 31, 2001).

  4.4          Special Resolutions adopted January 22, 2002
               increasing the number of Ordinary Shares and Other
               Shares (incorporated by reference to Exhibit 3.3
               to the Company's Annual Report on Form 10-K for
               the year ended December 31, 2001).

  5.1          Opinion of Maples and Calder as to the legality of
               the Ordinary Shares.

  23.1         Consent of PricewaterhouseCoopers LLP

  23.2         Consent of Maples and Calder (included in Exhibit 5.1)

  24.1         Powers of Attorney (included in signature pages)

  99.1         Appointment of CT Corporation as U.S. agent for
               service of process (incorporated by reference to
               Exhibit 99.1 to Registration Statement on Form S-1
               of the Company (No. 33-72118)).

  99.2         Confirmation of appointment of CT Corporation System as
               U.S. agent for service of process (incorporated by
               reference to Exhibit 99.2 to Registration Statement on
               Form S-3 of the Company (No. 333-49257)).	

S-6

Exhibit 5.1
MAPLES and CALDER
Cayman Europe Asia
ACE Limited
ACE Global Headquarters
17 Woodbourne Avenue
Hamilton HM 08
Bermuda
Effective Date:
4 March, 2003
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 3,000,000 of the Company's authorised but unissued Ordinary Shares, par value US$0.041666667 per share, to be issued pursuant to the 1995 Long-Term Incentive Plan (the "Plan") approved by Resolutions of the Board on 28 July, 1995.
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.
PO Box 309GT, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands Telephone: (345) 949 8066 Facsimile: (345) 949 8080 Email: info@maplesandcalder.com www.maplesandcalder.com

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.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement.
Yours faithfully,
Maples and Calder
PO Box 309GT, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands Telephone: (345) 949 8066 Facsimile: (345) 949 8080 Email: info@maplesandcalder.com www.maplesandcalder.com

Exhibit 23.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in this registration statement of ACE Limited on Form S-8 of our reports dated February 13, 2002, on our audits of the consolidated financial statements and financial statement schedules of ACE Limited as of December 31, 2001 and 2000, and for the years ended December 31, 2001, 2000 and 1999, which reports are incorporated by reference and included in the Company's 2001 Annual Report on Form 10-K.
PricewaterhouseCoopers LLP
New York, New York
March 2, 2003