SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)
GUARANTY NATIONAL CORPORATION
(Name of Issuer)
Common Stock, par value $1.00 per share
(Title of class of securities)
401192 10 9
-----------
(CUSIP Number)
Check the following box if a fee is being paid with this statement:
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.
(Continued on following pages)
Page 1 of 7 pages
<PAGE>
CUSIP No.401192109
- ---------------------------------------------------------------------------
Names of
Reporting Persons (a) Orion Capital Corporation
S.S. or IRS Identification IRS No. 95-6069054
Nos. of Above Persons (b) The Connecticut Indemnity
Company
IRS No. 06-0303520
(c) Connecticut Specialty
Insurance Group, Inc.
IRS No. 06-1287147
(d) Design Professionals
Insurance Company
IRS No. 94-2319176
(e) EBI Indemnity Company
IRS No. 06-1008792
(f) Employee Benefits
Insurance Company
IRS No. 95-1613489
(g) The Fire and Casualty
Insurance Company
of Connecticut
IRS No. 06-0640218
(h) Security Insurance
Company of Hartford
IRS No. 06-0529570
- ---------------------------------------------------------------------------
2) Check the Appropriate Box (a)
if a Member of a Group (b) X
(See Instructions) (c) X
(d) X
(e) X
(f) X
(g) X
(h) X
- ---------------------------------------------------------------------------
3) SEC Use Only
- ---------------------------------------------------------------------------
4) Citizenship or Place of (a) Delaware
Organization (b) Connecticut
(c) Connecticut
(d) Connecticut
(e) Connecticut
(f) Connecticut
(g) Connecticut
(h) Connecticut
- ---------------------------------------------------------------------------
(5) Sole Voting
Number Power 12,129,942
of Shares
Beneficially (6) Shared Voting
Owned by Power
Each Reporting
Person With (7) Sole Dispositive 12,129,942
Power
(8) Shared Dispositive
Power
- 2 -
<PAGE>
9) Aggregate Amount Beneficially
Owned by Each Reporting Person 12,129,942
- --------------------------------------------------------------------------
10) Check if the Aggregate Amount
in Row (9) Excludes Certain
Shares (See Instructions)
- --------------------------------------------------------------------------
11) Percent of Class Represented
by Amount in Row (9) 81.0%
- ---------------------------------------------------------------------------
l2) Type of Reporting Person (a) CO, HC
(See Instructions) (b) CO, IC
(c) CO, IC
(d) CO, IC
(e) CO, IC
(f) CO, IC
(g) CO, IC
(h) CO, IC
- 3 -
<PAGE>
Item 1(a) Name of Issuer:
---------------
Guaranty National Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
------------------------------------------------
9800 South Meridian Boulevard
Englewood, Colorado 80112
Item 2(a) Names of Persons Filing:
------------------------
Orion Capital Corporation ("Orion Capital")
and seven of its subsidiaries:
. The Connecticut Indemnity Company
. Connecticut Specialty Insurance Group, Inc.
. Design Professionals Insurance Company
. EBI Indemnity Company
. Employee Benefits Insurance Company
. The Fire and Casualty Insurance Company of Connecticut
. Security Insurance Company of Hartford
(The seven subsidiaries listed above are sometimes
referrred to herein as the "Subsidiaries.")
Item 2(b) Address of Principal Business Office:
--------------------------------------
Orion Capital's principal business office is located at:
600 Fifth Avenue, 24th Floor
New York, New York 10020
The principal business office of each of the Subsidiaries
is located at:
9 Farm Springs Drive
Farmington, Connecticut 06032
Item 2(c) Citizenship:
------------
Guaranty National Corporation was incorporated in the
State of Colorado.
Item 2(d) Title of Class of Securities:
------------------------------
Common Stock, par value $1.00 per share
Item 2(e) CUSIP Number:
------------
401192 10 9
- 4 -
<PAGE>
Item 3. Not applicable
Item 4. Ownership.
----------
(a) Amount beneficially owned:
12,129,942 shares as of December 31, 1996
(b) Percent of class:
81.0%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 12,129,942
(ii) Shared power to vote or to direct the vote: Not appli-
cable
(iii) Sole power to dispose or to direct the disposition of:
12,129,942
(iv) Shared power to dispose or to direct the disposition
of: Not applicable
Item 5. Ownership of Five Percent or Less of a Class.
---------------------------------------------
Not applicable
Item 6. Ownership of More than Five Percent on
Behalf of Another Person.
---------------------------------------
Not applicable
Item 7. Identification and Classification of the
Subsidiary Which Acquired the Security Being
Reported on By the Parent Holding Company.
--------------------------------------------
The Common Stock of Guaranty National Corporation being reported on by
Orion Capital is held by the seven Subsidiaries listed below, each of which is
classified as an insurance company; such Common Stock is held in the amounts
set forth opposite the respective names of the Subsidiaries, as follows:
Subsidiary Number of Shares
------------ -----------------
THE CONNECTICUT INDEMNITY COMPANY 1,381,168
CONNECTICUT SPECIALTY INSURANCE 215,154
GROUP, INC.
- 5 -
<PAGE>
Subsidiary Number of Shares
------------ -----------------
DESIGN PROFESSIONALS INSURANCE COMPANY 317,115
EBI INDEMNITY COMPANY 630,379
EMPLOYEE BENEFITS INSURANCE COMPANY 618,612
THE FIRE AND CASUALTY INSURANCE 637,998
COMPANY OF CONNECTICUT
SECURITY INSURANCE COMPANY OF HARTFORD 7,116,802
-------------
Total 12,129,942
Item 8. Identification and Classification
of Members of the Group.
----------------------------------
See response to Item 7 above.
Item 9. Notice of Dissolution of Group.
-------------------------------
Not applicable
Item 10. Certification.
--------------
Not applicable
- 6 -
<PAGE>
Signatures
-----------
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.
ORION CAPITAL CORPORATION
/s/ Michael P. Maloney
-------------------------------
Michael P. Maloney
Senior Vice President,
General Counsel and Secretary
THE CONNECTICUT INDEMNITY COMPANY
CONNECTICUT SPECIALTY INSURANCE GROUP, INC.
DESIGN PROFESSIONALS INSURANCE COMPANY
EBI INDEMNITY COMPANY
EMPLOYEE BENEFITS INSURANCE COMPANY
THE FIRE AND CASUALTY INSURANCE
COMPANY OF CONNECTICUT
SECURITY INSURANCE COMPANY OF HARTFORD
/s/ Michael P. Maloney
--------------------------
Michael P. Maloney
Senior Vice President
Date: March 18, 1997
- 7 -
