UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
ACCEL International Corporation
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(Name of Issuer)
Common Stock, par value $0.10 per share
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(Title of Class of Securities)
004299 10 3
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(CUSIP Number)
William H. Cuddy, Esq.
Day, Berry & Howard
CityPlace I, Hartford, Connecticut 06103-3499
(860) 275-0100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 11, 1996
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement / /. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting person*s
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 004299 10 3
Continued on the following pages.
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
American Ranger, Inc.
52-1488240
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/ /
(b)/ x /
3 SEC USE ONLY
4 SOURCE OF FUNDS*
Not Applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)/ /
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
7 SOLE VOTING POWER
-0- shares
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0- shares
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0- shares
PERSON
WITH 10 SHARED DISPOSITIVE POWER
-0- shares
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
14 TYPE OF REPORTING PERSON*
CO, HC
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
AMENDMENT NO. 7 TO STATEMENT ON SCHEDULE 13D
The reporting person hereby amends in part its Statement on Schedule
13D dated February 15, 1991 (the "Schedule 13D") as amended by Amendment No. 1
thereto, dated December 1, 1992, Amendment No. 2 thereto, dated February 26,
1993, Amendment No. 3 thereto, dated December 29, 1993, Amendment No. 4
thereto, dated February 3, 1995, Amendment No. 5 thereto, dated April 17,
December 15 and December 28, 1995, and Amendment No. 6 thereto, dated September
5 and September 20, 1996, with respect to the common stock, par value $0.10 per
share (the "Common Stock"), of ACCEL International Corporation ("ACCEL"). This
amendment amends only the portions of the information previously reported that
have changed since the prior filing.
Item 3. Source and Amount of Funds or Other Consideration.
On December 11, 1996, the reporting person disposed of the total
692,037 shares of Common Stock it owned of record in private sales to the
following in the indicated amount:
<TABLE>
<CAPTION>
No. of Shares of Aggregate
Purchaser Common Stock Purchased Price Paid
<S> <C> <C>
Rhoda L. Chase 378,736 $1 ,088,866.00
Arnold L. Chase 153,882 $ 442,410.75
The Darland Trust 159,419 $ 458,329.63
</TABLE>
All sales were made at a price of $2.875 per share of Common Stock.
Item 4. Purpose of Transaction.
The reporting person no longer maintains beneficial ownership over any
shares of Common Stock.
Item 5. Interest in Securities of the Issuer.
(a) (i) As of the date hereof, the reporting person may
be deemed to own beneficially 0 shares of Common Stock, or 0% of
the 8,603,742 shares of Common Stock outstanding as of
September 30, 1996.
(ii) In accordance with Rule 13d-4 under the Exchange
Act, the reporting person expressly declares that the filing of
this statement shall not be construed as an admission that it
is, for the purposes of Section 13(d) or Section 13(g) of the
Exchange Act, the beneficial owner of any of the (1) 5,350
shares of Common Stock or less than 0.1% of the shares of Common
Stock outstanding as of September 30, 1996 owned by Sandra M.
Chase, the spouse of Arnold L. Chase, or (2) 2,000,000 shares of
Common Stock, or 23.2% of the shares of Common Stock outstanding
as of September 30, 1996 owned by Rhoda L. Chase, the spouse of
David T. Chase, (3) 1,167,824 shares of Common Stock or 13.6% of
the shares of Common Stock outstanding as of September30,
1996 owned by Arnold L. Chase, son of David T. Chase and Rhoda
L. Chase, (4)1,167,824 shares of Common Stock or 13.6% of the
shares of Common Stock outstanding as of September 30, 1996
owned by The Darland Trust for which Rothschild Trust Cayman
Limited serves as trustee and in which Cheryl Chase, daughter of
David T. Chase and Rhoda L. Chase, is a beneficiary, or (5)
335,000 shares of Common Stock or 3.9% of the shares of Common
Stock outstanding as of September 30, 1996 owned by Insurance
Holdings, a limited partnership in which Chase Insurance
Corporation is the general partner and Rhoda L. Chase, Sandra M.
Chase and CCF Family Trust are limited partners.
(b) The reporting person does not have sole power to vote,
direct the voting, dispose, or direct the disposition, of any shares of
Common Stock since it is no longer a beneficial owner.
(c) No transactions involving the reporting person have
occurred during the past sixty days except as described in Item 3
above.
(e) On December 11, 1996, the reporting person ceased to be
a beneficial owner of more than 5% of the shares of Common Stock.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the reporting person certifies that the information set forth in this statement
is true, complete and correct.
Date: December 24, 1996 American Ranger, Inc.
By: /s/ Cheryl Chase
Name: Cheryl Chase
Title: Executive Vice President
<PAGE>
