SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1) *
AMVestors Financial Corporation
___________________________________________________
(Name of Issuer)
Common Stock, without par value
___________________________________________________
(Title of Class of Securities)
032343303
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
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 (however, see the
Notes).
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CUSIP NO. 032343303 13G Page 2 of 12 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PICO Holdings, Inc.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) __X__
(b) _____
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
582,925 shares
6. SHARED VOTING POWER
None
7. SOLE DISPOSITIVE POWER
582,925 shares
8. SHARED DISPOSITIVE POWER
None
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
582,925 shares
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.4%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
HC
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CUSIP NO. 032343303 13G Page 3 of 12 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Physicians Insurance Company of Ohio
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) __X__
(b) _____
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
582,925 shares
6. SHARED VOTING POWER
None
7. SOLE DISPOSITIVE POWER
582,925 shares
8. SHARED DISPOSITIVE POWER
None
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
582,925 shares
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.4%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IC
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CUSIP NO. 032343303 13G Page 4 of 12 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sequoia Insurance Company
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) __X__
(b) _____
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
87,000 shares
6. SHARED VOTING POWER
None
7. SOLE DISPOSITIVE POWER
87,000 shares
8. SHARED DISPOSITIVE POWER
None
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
87,000 shares
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.06%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IC
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CUSIP NO. 032343303 13G Page 5 of 12 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Summit Global Management, Inc.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) __X__
(b) _____
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
62,925 shares
6. SHARED VOTING POWER
None
7. SOLE DISPOSITIVE POWER
62,925 shares
8. SHARED DISPOSITIVE POWER
None
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
62,925 shares
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.05%
12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
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ITEM 1(A). NAME OF ISSUER.
AMVestors Financial Corporation
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
415 Southwest 8th Avenue
Topeka, Kansas 66603
ITEM 2(A). NAME OF PERSON FILING.
(i) Physicians Insurance Company of Ohio ("Physicians")
(ii) Sequoia Insurance Company ("Sequoia") which is a wholly-owned
subsidiary of Physicians.
Each of Physicians and Sequoia is an insurance company as defined in
Section 3(a)(19) of the Securities Exchange Act of 1934 (the "Act").
(iii) PICO Holdings, Inc. ("Holdings") which is an insurance holding
company and the direct parent of Physicians.
(iv) Summit Global Management, Inc. ("Summit") which is a wholly-owned
subsidiary of Physicians. Summit is an investment adviser
registered under Section 203 of the Investment Advisers Act
of 1940.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE OF PERSON FILING.
(i) Physicians:
13515 Yarmouth Drive, N.W.
Pickerington, Ohio 43147
(ii) Sequoia:
4473 Willow Road
Suite 105
Pleasanton, CA 94588
(iii) Holdings and Summit:
875 Prospect Street
Suite 301
La Jolla, California 92037
ITEM 2(C). CITIZENSHIP OF PERSON FILING.
(i) Physicians and Summit: Ohio
(ii) Sequoia and Holdings: California
ITEM 2(D). TITLE OF CLASS OF SECURITIES.
Common Stock, without par value
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ITEM 2(E). CUSIP NUMBER.
032343303
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [X] Insurance Company as defined in Section 3(a)(19) of the
Act -- for each of Physicians and Sequoia
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [X] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940 -- for Summit
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee Retirement Income Security
Act of 1974 or Endowment Fund; see ss.240.13d-1(b)(l)(ii)(F)
(g) [X] Parent Holding Company, in accordance with
ss.240.13d-1(b)(ii)(G) -- for Holdings
(h) [X] Group, in accordance with ss.240.13d-1(b)(1)(ii)(H) --
for Physicians, Sequoia, Holdings and Summit together
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned:
Holdings: 582,925 shares (1)(2)
Physicians: 582,925 shares (1)(2)
Sequoia: 87,000 shares (1)
Summit: 62,925 shares (2)
---------------
(1) Includes 87,000 shares owned of record and beneficially
by Sequoia.
(2) Includes 62,925 shares owned by advisory clients of
Summit. Summit has sole voting and dispositive power
with respect to such shares.
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(b) Percent of Class:
Holdings: 4.4% (1)
Physicians: 4.4% (1)
Sequoia: 0.06% (1)
Summit: 0.05% (1)
---------------
(1) The percent of class is based upon 13,119,196 shares
outstanding as of December 31, 1996.
(c) Number of shares as to which person filing has:
(i) Sole power to vote or to direct the vote and sole power to
dispose or to direct the disposition of:
Holdings: 582,925 shares (1)(2)
Physicians: 582,925 shares (1)(2)
Sequoia: 87,000 shares (1)
Summit: 62,925 shares (2)
---------------
(1) Includes 87,000 shares owned of record and beneficially
by Sequoia.
(2) Includes 62,925 shares owned by advisory clients of
Summit. Summit has sole voting and dispositive power
with respect to such shares.
(ii) Shared power to vote or to direct the vote:
Holdings: 0 shares
Physicians: 0 shares
Sequoia: 0 shares
Summit: 0 shares
(iii) Shared power to dispose or to direct the disposition of:
Holdings: 0 shares
Physicians: 0 shares
Sequoia: 0 shares
Summit: 0 shares
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner or more than five percent of the class of securities, check
the following: [X].
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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.
See Items 2(a) and 3(g) above. Please also see Exhibit 1.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
See Item 3(h) above. Please also see Exhibit 1.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable.
ITEM 10. CERTIFICATION.
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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SIGNATURE
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.
Dated: As of December 31, 1996 PHYSICIANS INSURANCE COMPANY OF OHIO
By: /s/ James F. Mosier
_____________________________________
James F. Mosier, General Counsel
and Secretary
Dated: As of December 31, 1996 SEQUOIA INSURANCE COMPANY
By: /s/ James F. Mosier
_____________________________________
James F. Mosier, Secretary
Dated: As of December 31, 1996 PICO HOLDINGS, INC.
By: /s/ James F. Mosier
_____________________________________
James F. Mosier, General
Counsel and Secretary
Dated: As of December 31, 1996 SUMMIT GLOBAL MANAGEMENT, INC.
By: /s/ James F. Mosier
_____________________________________
James F. Mosier, Secretary
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EXHIBIT 1
MEMBERS OF GROUP
NAME OF CORPORATION CLASSIFICATION
- ------------------- --------------
PICO Holdings, Inc. Parent Holding company
Physicians Insurance Company of Ohio Insurance Company
Sequoia Insurance Company Insurance Company
Summit Global Management, Inc. Investment Adviser
For a copy of the Joint Filing Agreement, please see Exhibit 2.
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EXHIBIT 2
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(1) under the Securities Exchange Act of
1934, the persons named below hereby agree to the joint filing on behalf of each
of them of a statement on Schedule 13G (including any amendments thereto) with
respect to the shares of Common Stock of AMVestors Financial Corporation
beneficially owned by each of them and further agree that this Joint Filing
Agreement be included as an exhibit to such joint filings.
IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing
Agreement as of the 31st day of December, 1996.
PICO HOLDINGS, INC.
By: /s/ James F. Mosier
____________________________________
James F. Mosier, General
Counsel and Secretary
PHYSICIANS INSURANCE COMPANY OF OHIO
By: /s/ James F. Mosier
____________________________________
James F. Mosier, General Counsel
and Secretary
SEQUOIA INSURANCE COMPANY
By: /s/ James F. Mosier
____________________________________
James F. Mosier, Secretary
SUMMIT GLOBAL MANAGEMENT, INC.
By: /s/ James F. Mosier
____________________________________
James F. Mosier, Secretary
