ACE general counsel is stepping down after a nine-year tenure, the company has announced.

Mr. Mear, 61 ? chief legal officer for the Bermuda-based insurance giant since 1996 ? will be replaced by Robert Cusumano, who was said to have acted as outside counsel to the company.

Mr. Cusumano's appointment is to become effective as of March 1, but Mr. Mear will not quit the company until later in the year.

A Press statement said Mr. Mear "plans to retire in the third quarter to his ranch in Texas and develop a legal consulting practice".

"Until his retirement, he will work on various matters including supporting Mr. Cusumano in his transition at ACE and assisting with the further development of the company's global ethics and compliance office."

Mr. Cusumano, 48, has been a litigation partner and head of the Insurance Litigation Practice in the New York office of the international law firm Debevoise & Plimpton LLP. He is a graduate of Harvard College and the University of Pennsylvania Law School.

CEO Evan Greenberg said: "Bob brings a wealth of experience and knowledge to the general counsel role. He has more than 20 years of experience in insurance litigation, a long-time association with ACE as outside counsel, and a deep knowledge of major industry issues. Bob is a valuable addition to our senior management team.

"On behalf of the entire management team, I want to thank Peter for his considerable contribution to ACE. He has been involved in the planning and execution of each of the transforming events that have made ACE the leader it is today. We will miss his calm wisdom and counsel, and the effective diplomacy he employed inside and outside the company as we have built our global franchise."