UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
ACMAT CORPORATION
(Name of Issuer)
CLASS A STOCK
(Title of Class of Securities)
004616207
(CUSIP Number)
* 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).
________________________________________________________________________________
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
QUEENSWAY FINANCIAL HOLDINGS LIMITED
90 Adelaide Street West, Suite 500
Toronto, Ontario, Canada
M5H 3V9
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ___
(b) ___
_______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Toronto, Ontario, Canada
_______________________________________________________________________________
NUBMER OF 5 SOLE VOTING POWER
SHARES 404,700
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH 0
REPORTING
PERSON 7 SOLE DISPOSITIVE POWER
WITH 404,700
8 SHARED DISPOSITIVE POWER
0
_______________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
404,700
______________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
_______________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.6%
_______________________________________________________________________________
12 TYPE OF REPORTING PERSON
HC
_______________________________________________________________________________
SEE INSTRUCTIONS BEFORE FILING OUT!
Item 1
(a) Name of Issuer:
Acmat Corp.
(b) Address of Issuer's Principal Executive Offices:
Acmat Corp.
233 Main St.
New Britain, CT
06050-2350
Item 2
(a) Name of Person Filing:
Queensway Financial Holdings Limited
(b) Address of Principal Business Office or, if none, Residence:
90 Adelaide Street West, Suite 500
Toronto, Ontario, Canada
M5H 3V9
(c) Citizenship:
Canadian
(d) Title of Class of Securities:
Class A Stock
(e) CUSIP Number:
004616207
Item 3
The person filing this statement is a: (g) Parent Holding Company
Item 4
Ownership
(a) Amount Beneficially Owned: 404,700
(b) Percentage of Class: 16.6%
(c) Number of shares as to which such person has:
1. sole power to vote or to direct the vote 404,70
0
2. shared power to vote or to direct the vote
0
3. sole power to dispose or to direct the disposition of
404,7
00
4. shared power to dispose or to direct the disposition of
0
Item 5
Ownership of Five Percent or Less of a Class:
The reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities ( ).
Item 6
Ownership of More than Five Percent on Behalf of Another Person:
No other person is known to have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, more than 5%
of such securities.
Item 7
Identification and Classification of the Subsidiary Which Acquired the Security
Being Reported on By the Parent Holding Company:
See Exhibit A
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 of 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.
March 31, 1999
Date
Crystal Maloney
Signature
Manager, Treasury
Name/Title
EXHIBIT A
This schedule identifies the subsidiaries which acquired the security being
reported on by the parent holding company:
Paradigm Insurance Company
Atlantic Alliance Fidelity and Surety Company
North Pointe Financial Services
Coachman Insurance Company
Hermitage Insurance Company
Pembridge Insurance Company
