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UNITED STATES
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): December 12, 1995
Investors Insurance Group, Inc.
(Exact name of registrant as specified in its charter)
Florida 1-8069 13-2574130
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
7200 Camino Real, Suite 230 Boca Raton, Florida 33433
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (800) 771-5043
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Item 5. Other Events.
The registrant reports that it has entered into an Agreement with
Standard Management Corporation, an Indiana corporation, to purchase the
assets of two of its wholly owned subsidiaries, Investors Insurance
Corporation, a Delaware corporation and Investors Marketing Group, Inc., a
Florida corporation. The terms of the purchase of all of the authorized,
issued and outstanding shares of Investors Insurance Corporation and Investors
Marketing Group, Inc. for a purchase price as follows:
a. Issuance of 750,000 shares of Standard Management
Corporation, which shares shall be registered pursuant
to a Registration Statement filed with the Securities
and Exchange Commission; and
b. Assumption by Standard Management Corporation of an
Secured Subordinated Debenture in the principal amount
of $8,000,000.00
In order to effectuate the transaction, approval will be sought from
the Registrant's shareholders, pursuant to a proxy solicitation.
Further contingencies include, but are not limited to:
a. The consummation of a Reinsurance Agreement with New
Era Life Insurance Company;
b. Approval of the transaction by the Delaware and
Indiana Departments of Insurance;
Item 7. Exhibits.
None.
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.
INVESTORS INSURANCE GROUP, INC.
Date: December 21, 1995 By: /s/ Melvin C. Parker
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Melvin C. Parker, President
