ACE chairman and Bermuda market veteran Duperreault retires.

ACE chairman Brian Duperreault received a golden handshake upon his retirement as chairman of the board, receiving a cash bonus of $2m and some other notable extras.

Duperreault hasn't completely waved farewell to the company as he will continue to serve as non-executive chairman of ACE.

Duperreault joined ACE in 1994 as chairman, president and CEO following more than 25 years with AIG. In May 2004, he presided over a successful management transition plan and became chairman of the company.

Evan Greenberg, president and CEO of ACE, said, “It is with great emotion that we announce the retirement of Brian Duperreault… he leaves a legacy of extraordinary leadership and vision that is evidenced today by the company's strength and vitality.”