Mr. Rich, ACE's top lawyer, has accepted a position with USAA (United Services Automobile Association) in San Antonio where he will serve as senior vice president and general counsel, the insurer announced yesterday.

"Brad has been a key member of our senior management team and can be justifiably proud of his substantial role in ACE's success,'' said ACE chairman, president and CEO Mr. Brian Duperreault.

"It will no doubt take us some time to find a replacement of his calibre.

"We have started the process,'' he added.

USAA, a huge Texas-based mutual company with 2.4 million members, primarily writes coverage for present and former military officers.

A large federal savings bank, an investment company, a real estate company and a life insurance company are among the entities under the USAA umbrella.

Mr. Rich, with ACE since 1991, anticipates his responsibilities as USAA's top lawyer will commence in mid-December.

Citing the company's initial public offering (IPO) and secondary public offering as well as the acquisition of Corporate Officers & Directors Assurance Ltd. (CODA), Mr. Rich said the past four years "have been an exciting time to be ACE's head lawyer''.

The IPO and secondary offerings were launched in March and November 1993 respectively while ACE completed the CODA acquisition November 1, 1993.

Mr. Bradford Rich