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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __________)*
EXEL LIMITED
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
(Title of Class of Securities)
- --------------------------------------------------------------------------------
000G3242A1
------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [x]. (A fee
is not required only if the filing 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).
*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 the
disclosures provided in a prior cover page.
The information required in 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).
Page 1 of 4 Pages
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CUSIP No. 000G3242A1 13G
----------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barrow, Hanley, Mewhinney & Strauss, Inc.
75-2403190
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
5 SOLE VOTING POWER
NUMBER OF
SHARES 145,100
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 2,240,400
PERSON
WITH 7 SOLE DISPOSITIVE POWER
2,385,500
8 SHARED DISPOSITIVE POWER
0
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,385,500
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.04%
12 TYPE OF REPORTING PERSON
IA
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Item 1(a). Name of Issuer.
Exel Limited
Item 1(b). Address of Issuer's Principal Executive Offices.
Cumberland House
9th Floor
1 Victoria Street
Hamilton, Bermuda HMII
Item 2(a). Name of Person Filing.
Barrow, Hanley, Mewhinney & Strauss, Inc.
Item 2(b). Address of Principal Business Office or, if none, Residence.
One McKinney Plaza
3232 McKinney Avenue, 15th Floor
Dallas, Texas 75204-2429
Item 2(c). Citizenship.
A Nevada corporation
Item 2(d). Title of Class of Securities.
Common Stock
Item 2(e). CUSIP Number.
000G3242A1
Item 3. Filing Status.
The person filing is an Investment Adviser registered under Section
203 of the Investment Advisers Act of 1940.
Item 4. Ownership.
(a) Amount Beneficially Owned: 2,385,500
(b) Percent of Class: 5.04%
(c) Number of shares as to which such person has
<TABLE>
<S> <C> <C>
(i) sole power to vote or to direct the vote: 145,100
(ii) shared power to vote or to direct the vote: 2,240,400
(iii) sole power to dispose or to direct the disposition of: 2,385,500
(iv) shared power to dispose or to direct the disposition of: None
</TABLE>
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ ].
Page 3 of 4 Pages
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Item 6. Ownership of More than Five Percent on Behalf of Another Person.
The right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, the common stock is held by certain
clients of the reporting person, none of which has such right or power with
respect to five percent or more of the common stock.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not Applicable
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course
of business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purposes or effect.
Signature:
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 9, 1996
BARROW, HANLEY, MEWHINNEY & STRAUSS, INC.
By: /s/ Bryant M. Hanley, Jr.
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Bryant M. Hanley, Jr., President
Page 4 of 4 Pages
