UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here if Amendment ( ); Amendment Number:
This Amendment (Check only one.): ( ) is a restatement.
( ) adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Employers Life Insurance Company
Address: One Nationwide Plaza
Columbus, OH 43215
13F File Number: 28-5914
The institutional investment manager filing this report and the person
by whom it is signed hereby represent that the person signing the
report is authorized to submit it, that all information contained
herein is true, correct and complete, and that it is understood that
all required items, statements, schedules, lists, and tables, are
considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Robert J. Woodward, Jr.
Title: Executive Vice President and Chief Investment Officer
Phone: (614)249-7696
Sinature, Place, and Date of Signing:
Robert J. Woodward, Jr. Columbus, Ohio May 10, 1999
Report Type (Check only one.):
( X) 13F HOLDINGS REPORT.
( ) 13F NOTICE.
( ) 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF
1934
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers:
Form 13F Information Table Entry Total: 57
Form 13F Information Table Value Total: $312,595,943
List of Other Included Managers:
No. 13F File Number Name
01
02
03
04
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FORM 13F INFORMATION TABLE
3/31/1999
VALUE SHARES SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRIN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
ALLERGAN INC COM 018490102 9,393,838
106,900 SH DEFINED 04 106,900
ALLTEL CORP COM 020039103 1,753,985
28,120 SH DEFINED 04 28,120
AMERICAN HOME PRODS CORP COM 026609107 3,497,400
53,600 SH DEFINED 04 53,600
AMERICAN INTL GROUP INC COM 026874107 6,033,301
50,017 SH DEFINED 04 50,017
ANHEUSER BUSCH COS INC COM 035229103 4,384,800
57,600 SH DEFINED 04 57,600
ASSOCIATES FIRST CAP CORP CL A 046008108 6,075,180
135,004 SH DEFINED 04 135,004
BANK NEW YORK INC COM 064057102 2,975,625
82,800 SH DEFINED 04 82,800
BANK ONE CORP COM 60423A103 5,928,524
107,669 SH DEFINED 04 107,669
BLACK & DECKER CORP COM 091797100 14,241,894
256,900 SH DEFINED 04 256,900
BRUNSWICK CORP COM 117043109 1,464,000
76,800 SH DEFINED 04 76,800
CHARTER ONE FINL INC COM 160903100 1,603,601
55,566 SH DEFINED 04 55,566
CORNING INC COM 219350105 4,428,000
73,800 SH DEFINED 04 73,800
DISNEY WALT CO DEL COM 254687106 3,301,086
106,059 SH DEFINED 04 106,059
DUN & BRADSTREET CORP COM 264830100 2,871,375
80,600 SH DEFINED 04 80,600
EMERSON RADIO CORP COM 291087203 61,775
82,366 SH DEFINED 04 82,366
FEDERAL NATL MTG ASSN COM 313586109 9,383,375
135,500 SH DEFINED 04 135,500
FORD MTR CO DEL COM 345370100 6,813,838
120,200 SH DEFINED 04 120,200
GANNETT INC COM 364730101 2,217,600
35,200 SH DEFINED 04 35,200
GARTNER GROUP INC NEW COM 366651107 1,667,369
73,900 SH DEFINED 04 73,900
GIBSON GREETINGS INC COM 374827103 376,594
51,500 SH DEFINED 04 51,500
HCR MANOR CARE INC COM 404134108 4,010,438
175,800 SH DEFINED 04 175,800
HORACE MANN EDUCATORS CORP NEW COM 440327104 3,895,500
168,000 SH DEFINED 04 168,000
IMS HEALTH INC COM 449934108 5,101,250
154,000 SH DEFINED 04 154,000
INTERNATIONAL BUSINESS MACHS COM 459200101 11,113,575
62,700 SH DEFINED 04 62,700
MBIA INC COM 55262C100 626,400
10,800 SH DEFINED 04 10,800
MARTIN MARIETTA MATLS INC COM 573284106 4,656,300
81,600 SH DEFINED 04 81,600
MASCO CORP COM 574599106 3,986,075
141,100 SH DEFINED 04 141,100
MAYTAG CORP COM 578592107 3,616,463
59,900 SH DEFINED 04 59,900
MCDONALDS CORP COM 580135101 9,189,375
202,800 SH DEFINED 04 202,800
MELLON BK CORP COM 585509102 17,460,038
248,100 SH DEFINED 04 248,100
MILLIPORE CORP COM 601073109 2,166,425
89,800 SH DEFINED 04 89,800
MORTON INTL INC IND NEW COM 619335102 4,681,950
127,400 SH DEFINED 04 127,400
NEW YORK TIMES CO CL A 650111107 5,073,000
178,000 SH DEFINED 04 178,000
OM GROUP INC COM 670872100 2,232,450
67,650 SH DEFINED 04 67,650
PACIFIC CENTY FINL CORP COM 694058108 1,262,938
60,500 SH DEFINED 04 60,500
PALL CORP COM 696429307 1,113,928
67,256 SH DEFINED 04 67,256
PEPSICO INC COM 713448108 8,252,888
210,600 SH DEFINED 04 210,600
PHARMACIA & UPJOHN INC COM 716941109 2,376,488
38,100 SH DEFINED 04 38,100
PFIZER INC COM 717081103 5,716,500
41,200 SH DEFINED 04 41,200
PHILIP MORRIS COS INC COM 718154107 4,261,206
121,100 SH DEFINED 04 121,100
PROCTOR & GAMBLE CO COM 742718109 3,878,325
39,600 SH DEFINED 04 39,600
PROVIDENT COS INC COM 743862104 2,453,938
71,000 SH DEFINED 04 71,000
QUAKER OATS CO COM 747402105 5,789,250
93,000 SH DEFINED 04 93,000
QUEST DIAGNOSTICS INC COM 74834L100 2,792,086
125,487 SH DEFINED 04 125,487
RALSTON PURINA CO COM RAL-PUR GP 751277302 7,942,200
297,600 SH DEFINED 04 297,600
RAYCHEM CORP DEL COM 754603108 3,035,784
134,550 SH DEFINED 04 134,550
ST JUDE MED INC COM 790849103 1,730,625
71,000 SH DEFINED 04 71,000
SCHERING PLOUGH CORP COM 806605101 29,812,900
539,600 SH DEFINED 04 539,600
SCRIPPS E W CO OHIO CL A 811054204 1,084,125
24,500 SH DEFINED 04 24,500
TEXACO INC COM 881694103 5,765,800
101,600 SH DEFINED 04 101,600
TIFFANY & CO NEW COM 886547108 1,435,200
19,200 SH DEFINED 04 19,200
TRINITY INDS INC COM 896522109 1,318,938
44,900 SH DEFINED 04 44,900
VULCAN MATLS CO COM 929160109 6,680,231
161,700 SH DEFINED 04 161,700
WAL MART STORES INC COM 931142103 5,651,094
61,300 SH DEFINED 04 61,300
WARNER LAMBERT CO COM 934488107 24,512,500
370,000 SH DEFINED 04 370,000
WASHINGTON POST CO CL B 939640108 3,598,350
6,900 SH DEFINED 04 6,900
WELLS FARGO & CO COM 949740104 15,848,250
452,000 SH DEFINED 04 452,000
Column Total 312,595,943
6,690,444 6,690,444
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