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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
AMENDMENT NO. 44
SOUTHWESTERN LIFE CORPORATION (FORMERLY I.C.H. CORPORATION)
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(Name of Issuer)
COMMON STOCK ($1.00 PAR VALUE)
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(Title of Class of Securities)
449264 10 0
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(CUSIP No.)
Gary R. Weitkamp
Hirn Doheny Reed & Harper
2000 Meidinger Tower
Louisville, Kentucky 40202
(502) 585-2450
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June 30, 1994
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(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 Statement and is filing this
Statement because of Rule 13d-1(b)(3) or (4), check the following box:
( )
Check the following box if a fee is being paid with this Statement:
( )
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CUSIP NO. 449264 10 0
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1. NAME OF REPORTING PERSON
ROBERT T. SHAW
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ( ) (b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
PF, OO, AF, BK
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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 OR ORGANIZATION
United States Citizen
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Number of 7. SOLE VOTING POWER
Shares 30,846
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Beneficially 8. SHARED VOTING POWER
Owned By 969,154
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Each 9. SOLE DISPOSITIVE POWER
Reporting 30,846
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Person 10. SHARED DISPOSITIVE POWER
With 969,154
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Robert T. Shaw beneficially owns 1,000,000 shares of common stock of
Southwestern Life Corporation
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
( )
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.12%
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14. TYPE OF REPORTING PERSON
IN
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CUSIP NO. 449264 10 0
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1. NAME OF REPORTING PERSON
C. FRED RICE
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ( ) (b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
BK, OO, AF
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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 OR ORGANIZATION
United States Citizen
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Number of 7. SOLE VOTING POWER
Shares None
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Beneficially 8. SHARED VOTING POWER
Owned By 969,154
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Each 9. SOLE DISPOSITIVE POWER
Reporting None
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Person 10. SHARED DISPOSITIVE POWER
With 969,154
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
C. Fred Rice beneficially owns 969,154 shares of common stock of
Southwestern Life Corporation
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
( )
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.05%
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14. TYPE OF REPORTING PERSON
IN
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CUSIP NO. 449264 10 0
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1. NAME OF REPORTING PERSON
CONSOLIDATED FIDELITY LIFE INSURANCE COMPANY
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
61-1206360
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ( ) (b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO, WC, AF
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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 OR ORGANIZATION
Kentucky
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Number of 7. SOLE VOTING POWER
Shares None
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Beneficially 8. SHARED VOTING POWER
Owned By None
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Each 9. SOLE DISPOSITIVE POWER
Reporting None
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Person 10. SHARED DISPOSITIVE POWER
With None
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Consolidated Fidelity Life Insurance Company does not beneficially own any
shares of common stock of Southwestern Life Corporation
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
( )
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
None
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14. TYPE OF REPORTING PERSON
HC, CO
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CUSIP NO. 449264 10 0
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1. NAME OF REPORTING PERSON
CONSOLIDATED NATIONAL CORPORATION (formerly Consolidated National Successor
Corporation)
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
61-1067126
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ( ) (b) ( )
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
BK, OO, WC, AF
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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 OR ORGANIZATION
Kentucky
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Number of 7. SOLE VOTING POWER
Shares None
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Beneficially 8. SHARED VOTING POWER
Owned By 969,154
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Each 9. SOLE DISPOSITIVE POWER
Reporting None
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Person 10. SHARED DISPOSITIVE POWER
With 969,154
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Consolidated National Corporation beneficially owns 969,154 shares of
common stock of Southwestern Life Corporation
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
( )
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.05%
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14. TYPE OF REPORTING PERSON
HC, CO
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This Amendment No. 44 amends Items 4, 5, and 6 of the
Schedule 13D filed by and on behalf of Consolidated National
Corporation ("CNC"), Robert T. Shaw ("Mr. Shaw"), C. Fred Rice
("Mr. Rice") and Consolidated Fidelity Life Insurance Company
("CFLIC").
ITEM 1. SECURITY AND ISSUER.
Not Amended.
ITEM 2. IDENTITY AND BACKGROUND.
Not Amended.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Not Amended.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended to include at the end thereof the following:
See ITEM 5 for disclosure concerning the transactions in which CFLIC
transferred a total of 620,423 shares of Common Stock ($1.00 par value)("Common
Stock") of Southwestern Life Corporation ("SLC") and 541,563 shares of Series
1984-A Preferred Stock of SLC ("Series 1984-A Preferred Stock") to SLC.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended to include at the end thereof the following:
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(a) CNC beneficially owns 969,154 shares of Common Stock (or 2.05%
of those deemed outstanding).
Mr. Shaw, by virtue of his ownership of 54.84% of the outstanding stock
of CNC and his active involvement in CNC's business, may be deemed to be the
beneficial owner of 1,000,000 shares of Common Stock (or 2.12% of those deemed
outstanding).
Mr. Rice, by virtue of his ownership of 35.02% of the outstanding stock
of CNC and his active involvement in CNC's business, may be deemed to be the
beneficial owner of 969,154 shares of Common Stock (or 2.05% of those deemed
outstanding).
As a result of the transactions described below, CFLIC is no longer the
beneficial owner of any shares of Common Stock.
(b) The following table shows the number of shares of Common Stock
beneficially owned by each reporting person over which such reporting person
has sole or shared voting and/or dispositive power.
<TABLE>
<CAPTION>
Sole Shared
Reporting Sole Voting Shared Voting Dispositive Dispositive
Person Power Power Power Power
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<S> <C> <C> <S> <S>
CNC 0 969,154 0 969,154
CFLIC 0 0 0 0
Mr. Shaw 30,846 969,154(1) 30,846 969,154(1)
Mr. Rice 0 969,154(1) 0 969,154(1)
<FN>
Note to table:
(1) Represents 969,154 shares of Common Stock owned by CNC.
</TABLE>
2
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On June 30, 1994, pursuant to an agreement between CNC and CFLIC,
dated June 15, 1993 (the "CFLIC Agreement"), SLC terminated certain insurance
business written by an existing and a former subsidiary of SLC which was
reinsured by CFLIC. Immediately following the terminations, CFLIC repurchased
approximately $63 million of its preferred stock from SLC. Payment for the
repurchase was made by CFLIC's transfer to SLC of 620,423 shares of Common
Stock, 541,563 shares of Series 1984-A Preferred Stock, 140,000 shares of SLC's
Series 1987-B Preferred Stock and approximately $30 million of senior debt of
SLC.
As a result of these transactions, each of Mr. Shaw, Mr. Rice, CNC, and
CFLIC ceased to be the beneficial owner of more than five percent of the
outstanding shares of Common Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.
Item 6 is hereby amended to include at the end thereof the following:
As a result of the transactions described in ITEM 5, there are no longer
any contracts, arrangements, undertakings or relationships between CFLIC and any
person with respect to any securities of SLC.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Not Amended.
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Date: July 15, 1994
/s/ ROBERT T. SHAW
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Robert T. Shaw, Individually
/s/ C. FRED RICE
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C. Fred Rice, Individually
CONSOLIDATED NATIONAL CORPORATION
By: /s/ ROBERT T. SHAW
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Robert T. Shaw, President
CONSOLIDATED FIDELITY LIFE
INSURANCE COMPANY
By: /s/ JERRY WALLACE RICE
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Jerry Wallace Rice, Vice President
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