SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D C
FORM 10-Q
QUARTERLY REPORT
Under Section 13 or 15 (d) of the Securities Exchange Act of 1934
FOR THREE MONTHS ENDED
June 30, 1996
Commission File: 0-1999
KENTUCKY INVESTORS, INC.
(Exact name of registrant as specified in Charter)
KENTUCKY 61-6030333
(State of Other Jurisdiction (IRS Employer
of Incorporation or Organization) Identification Number)
200 Capital Ave. P.O. Box 717 Frankfort KY 40602
(Address of Principal Executive Offices)
Registrant's Telephone Number - (502) 223-2361
Securities registered pursuant to Section 13 (g) of the Act:
Common Capital Stock, par value $1.00 per share (Title of Class)
Number of outstanding shares as of June 30, 1996 - 816,303
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. YES_X_ NO____
PART II - OTHER INFORMATION
ITEM 1. Legal Proceedings.
There are no legal proceedings to which the Registrant is a party.
ITEM 2. Changes in Securities.
Not Applicable.
ITEM 3. Defaults Upon Senior Securities.
Not Applicable.
ITEM 4. Submission of matters to a Vote of Security Holders.
(a) The annual meeting of the stockholders was held May 9, 1996 at 11:00 a.m.
The purpose of the meeting was to elect directors.
(b) Three (3) directors were elected to hold office for a term of three (3)
years or until their successors are duly elected and qualified.
The following individual were elected for a term of three (3) years and the
number of votes cast was as follows:
Helen S. Wagner -- Number of Votes Cast FOR - 653,181; WITHHELD - 60
Gordon Duke -- Number of Votes Cast FOR - 653,181; WITHHELD - 60
Robert M. Hardy, Jr. -- Number of Votes Cast FOR - 653,181; WITHHELD - 60
The other directors whose terms will continue after the meeting are:
Harry Lee Waterfield II
H. Glenn Doran
Jerry F. Howell
Dr. Jerry F. Howell, Jr.
David W. Reed
Warner Hines
(c) No other matter was voted on at this meeting. Proxies for the meeting
were solicited pursuant to Regulation 14 under the Act.
ITEM 5. Other Information.
Not Applicable.
ITEM 6. Exhibits and Reports on Form 8-K
(a) Definitive Proxy Statements and Annual Reviews were filed with the
Securities and Exchange Commission.
(b) There were no reports filed on Form 8-K during the quarter ended June 30,
1996.
(c) Exhibit 27 - Financial Data Schedule.
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 thereunto duly authorized.
KENTUCKY INVESTORS, INC.
August 1, 1996
DATE /s/
BY: Harry Lee Waterfield II
President
August 1, 1996
DATE /s/
BY: Jimmy R. McIver
Treasurer
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<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<DEBT-HELD-FOR-SALE> 137,658,197
<DEBT-CARRYING-VALUE> 0
<DEBT-MARKET-VALUE> 0
<EQUITIES> 2,410,258
<MORTGAGE> 13,217,050
<REAL-ESTATE> 0
<TOTAL-INVEST> 161,470,443
<CASH> 3,492,138
<RECOVER-REINSURE> 507,028
<DEFERRED-ACQUISITION> 28,589,161
<TOTAL-ASSETS> 212,323,199
<POLICY-LOSSES> 163,323,014
<UNEARNED-PREMIUMS> 7,494,678
<POLICY-OTHER> 1,532,531
<POLICY-HOLDER-FUNDS> 1,987,777
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0
0
<COMMON> 816,303
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<TOTAL-LIABILITY-AND-EQUITY> 212,323,199
16,807,544
<INVESTMENT-INCOME> 5,531,270
<INVESTMENT-GAINS> 52,602
<OTHER-INCOME> 274,240
<BENEFITS> 8,002,662
<UNDERWRITING-AMORTIZATION> 458,518
<UNDERWRITING-OTHER> 13,512,016
<INCOME-PRETAX> 692,460
<INCOME-TAX> 156,931
<INCOME-CONTINUING> 535,529
<DISCONTINUED> 0
<EXTRAORDINARY> 158,076
<CHANGES> 0
<NET-INCOME> 377,453
<EPS-PRIMARY> .46
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