SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 23, 1997
AMERUS LIFE HOLDINGS, INC.
(Exact Name of Registrant as Specified in Charter)
IOWA 0-21459 42-1459712
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification No.)
Incorporation)
699 WALNUT STREET, DES MOINES, IOWA 50309-3948
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (515) 362-3600
Not Applicable.
(Former Name or Former Address, if Changed Since Last Report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
ACQUISITION OF DELTA LIFE CORPORATION
(a) On October 23, 1997, AmerUs Life Holdings, Inc.
("Registrant") completed the previously reported
acquisition of Delta Life Corporation ("Delta") for
$162.9 million in cash. The purchase price was
determined in arm's-length negotiations with the
representatives of Delta. Delta was acquired from its
prior stockholders, with whom neither the Registrant nor
any of its affiliates, nor any director or officer of the
Registrant, nor any associate of any such director or
officer had any material relationship. The funds used
to consummate the acquisition were provided by borrowings
made in the ordinary course of business by a bank (as
defined in Section 3(a)(6) of the Securities Exchange Act
of 1934, as amended (the "Act")). The identity of such
bank has been omitted from this Report in accordance with
Section 13(d)(1)(B) of the Act, and has been filed
separately with the Securities and Exchange Commission.
As a result of the acquisition, Delta has become a wholly
owned subsidiary of the Registrant. The principal asset
of Delta is its wholly-owned subsidiary, Delta Life and
Annuity Company ("Delta Life"), a Tennessee domiciled
life insurance company formed in 1955. As of June 30,
1997, Delta had approximately 52,000 annuity contracts
outstanding, had assets of $2.0 billion, had total
stockholders' equity of $107.4 million, and had reserves
of approximately $1.8 billion. Delta Life specializes in
the sale of individual single and flexible premium
deferred annuities, primarily in the southeastern,
western, southwestern and midwestern regions of the
United States. Such sales are made primarily through a
network of over 3,400 independent agents. Approximately
55% of Delta Life's 1996 direct collected premiums were
derived from retirement-oriented tax-qualified annuities.
Delta Life is licensed in the District of Columbia and in
all states except New York.
(b) In connection with the acquisition, the
Registrant has acquired a leasehold interest in the home
office facilities of Delta. The Registrant does not
intend to continue operations at these facilities.
ITEM 7: FINANCIAL STATEMENT, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(a) To be filed by amendment within 60 days of
the date hereof.
(b) To be filed by amendment within 60 days of
the date hereof.
(c) Exhibits.
- 2.1 Agreement and Plan of Merger, dated as of
August 13, 1997 and as amended as of September 5, 1997,
among AmerUs Life Holdings, Inc., a wholly owned
subsidiary of AmerUs Life Holdings, Inc. and Delta Life
Corporation (incorporated by reference to the
Registrant's Current Report on Form 8-K dated October 8,
1997)
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this
report to be signed on its behalf by the undersigned
hereunto duly authorized.
AMERUS LIFE HOLDINGS, INC.
By: /s/ Roger K. Brooks
------------------------------
Name: Roger K. Brooks
Title: Chairman, President and
Chief Executive Officer
Date: November 7, 1997
EXHIBIT INDEX
2.1 Agreement and Plan of Merger, dated as of August 13,
1997 and as amended as of September 5, 1997, among
AmerUs Life Holdings, Inc., a wholly owned
subsidiary of AmerUs Life Holdings, Inc. and Delta
Life Corporation (incorporated by reference to the
Registrant's Current Report on Form 8-K dated
October 8, 1997)
