<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
AMENDMENT NO. 5
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Vesta Insurance Group, Inc.
---------------------------
(Name of Issuer)
Common Stock, $.01 par value per share
--------------------------------------
(Title of Class of Securities)
40218L 30 5
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(CUSIP Number)
Carol A. McCoy, 2001 Third Avenue South, Birmingham, AL 35233 (205) 325-4243
- ------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 1, 1999
------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box.
Check the following box if a fee is being paid with the statement____. (A fee is
not required only if the reporting 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.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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
disclosures provided in a prior cover page.
The information required on 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).
(Continued on following page(s))
Page 1 of 7 Pages
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CUSIP No. 925391 10 4
---------------
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1 NAMES OF REPORTING PERSONS Torchmark Corporation
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
63-0780404
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF 4,450,000
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
4,450,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,130,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.46%
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14 TYPE OF REPORTING PERSON
HC
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2
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CUSIP No. 925391 10 4
---------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
United Investors Life Insurance Company
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(E) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Missouri
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7 SOLE VOTING POWER
NUMBER OF 680,000
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING -----------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
680,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
680,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.64%
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14 TYPE OF REPORTING PERSON
IC
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3
<PAGE>
Item 1. Security and Issuer.
Common Stock of Vesta Insurance Group, Inc.
3760 River Run Drive
Birmingham, AL 35243
Item 2. Identity and Background.
Torchmark Corporation, a Delaware corporation
2001 Third Avenue South
Birmingham, AL 35233
Torchmark Corporation ("TMK") is an insurance and diversified financial
services holding company.
United Investors Life Insurance Company, a Missouri corporation
2001 Third Avenue South
Birmingham, AL 35233
United Investors Life Insurance Company ("UILIC") is an insurer marketing
individual life insurance and annuities.
(d) No.
(e) No.
Item 3. Source and Amount of Funds or Other Consideration.
Working capital of UILIC.
Item 4. Purpose of Transaction.
Not applicable.
TMK and UILIC have no current plans or proposals which relate to or would
result in any of the matters listed in Items 4(a) through (j), inclusive,
of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) TMK is the record owner of 4,450,000 shares of Vesta's common stock,
and the deemed beneficial owner of an additional 680,000 shares of
Vesta common stock held of record by its subsidiary, UILIC (total of
27.46%). UILIC is the record owner of 680,000 shares (3.64%) of Vesta
common stock.
(b) TMK has sole voting and dispositive power over the Vesta shares it
holds of record and no voting or dispositive power over the Vesta
shares owned by UILIC. UILIC has sole voting and dispositive power
over the Vesta shares it holds of record.
4
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(c) On July 1, 1999, UILIC purchased 680,000 shares of Vesta's common
stock in a private placement transaction for $4.75 per share.
(d) None.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits
Joint Filing Agreement.
5
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
TORCHMARK CORPORATION
By: /s/ Carol A. McCoy
----------------------------------
Carol A. McCoy
Its: Associate Counsel & Secretary
UNITED INVESTORS LIFE INSURANCE
COMPANY
By: /s/ Michael J. Klyce
----------------------------------
Michael J. Klyce
Its: Treasurer
6
<PAGE>
JOINT FILING AGREEMENT
The undersigned, Torchmark Corporation and United Investors Life
Insurance Company, hereby agree to file jointly the Schedule 13D and any
amendments thereto required under the Securities Exchange Act of 1934 for their
ownership of common stock of Vesta Insurance Group, Inc. This Joint Filing
Agreement shall be effective commencing with its execution and shall continue
until revoked in writing by the parties hereto.
Done this 1st day of July, 1999.
TORCHMARK CORPORATION
Attest: By: /s/ Michael J. Klyce
----------------------- ------------------------------
Secretary Its Vice President and
Treasurer
UNITED INVESTORS LIFE
INSURANCE COMPANY
Attest: By: /s/ Michael J. Klyce
------------------------ -------------------------------
Assistant Secretary Its Treasurer
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