adjourned a general meeting to discuss the company's takeover by ACE Ltd.

without putting the purchase to a vote.

A statement from ACE Ltd. said the company's board and shareholders will meet again on October 19 to continue to consider the $250 million purchase.

Spokesman Ms Robin Masters said there were no specific reasons why the meeting was adjourned. She said she did not know where the October 19 meeting would be held.

ACE announced last month that the two companies had agreed to that ACE would acquire CODA for $250 million subject to approval by the board and shareholders of CODA.

ACE, through its wholly owned subsidiary, is the world's leading supplier of excess directors and officers liability insurance and one of the leading suppliers of high level excess liability insurance.

At June 30, the company had $1.3 billion in shareholders' equity and approximately $2.3 billion in assets.

CODA, which is managed by ACE Insurance Management Ltd., writes directors and officers liability and was formed by 53 major US corporations. It has no expanded its policyholder base to 191 customers.

At June 30, it had $518 million assets. In 1992 it had profits of $29.5 million.