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
March 31, 1997
Commission File: 0-1999
KENTUCKY INVESTORS, INC.
(Exact name of registrant as specified in Charter)
KENTUCKY
(State of Other Jurisdiction of Incorporation or Organization)
61-6030333
(IRS Employer Identification Number
200 Capital Avenue, P. O. Box 717
Frankfort, Kentucky 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 March 31, 1997- 824,986
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.
None.
ITEM 5. Other Information.
On January 20, 1997 the Board of Directors of Kentucky Investors, Inc. was
advised by Warner Hines that he was resigning as a member of the Board due to
health reasons. As of March 31, 1997, the vacancy had not been filled.
ITEM 6. Exhibits and Reports on Form 8-K.
(b) There were no reports filed on Form 8-K during the quarter ended March
31, 1997.
(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.
/s/
BY: HARRY LEE WATERFIELD II
PRESIDENT
DATE: May 12, 1997
/s/
BY: JIMMY R. MCIVER
TREASURER
DATE: May 12, 1997
<TABLE> <S> <C>
<ARTICLE> 7
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> MAR-01-1997
<DEBT-HELD-FOR-SALE> 149,469,197
<DEBT-CARRYING-VALUE> 0
<DEBT-MARKET-VALUE> 0
<EQUITIES> 2,508,872
<MORTGAGE> 13,223,646
<REAL-ESTATE> 0
<TOTAL-INVEST> 173,394,076
<CASH> 2,591,337
<RECOVER-REINSURE> 143,542
<DEFERRED-ACQUISITION> 28,607,625
<TOTAL-ASSETS> 227,563,042
<POLICY-LOSSES> 175,520,594
<UNEARNED-PREMIUMS> 9,903,302
<POLICY-OTHER> 1,627,946
<POLICY-HOLDER-FUNDS> 1,980,686
<NOTES-PAYABLE> 0
0
0
<COMMON> 824,986
<OTHER-SE> 21,943,544
<TOTAL-LIABILITY-AND-EQUITY> 227,563,042
8,473,128
<INVESTMENT-INCOME> 3,171,490
<INVESTMENT-GAINS> 21,393
<OTHER-INCOME> 134,277
<BENEFITS> 4,878,028
<UNDERWRITING-AMORTIZATION> (212,534)
<UNDERWRITING-OTHER> 6,599,464
<INCOME-PRETAX> 535,330
<INCOME-TAX> 109,598
<INCOME-CONTINUING> 425,732
<DISCONTINUED> 0
<EXTRAORDINARY> 112,071
<CHANGES> 0
<NET-INCOME> 313,661
<EPS-PRIMARY> .38
<EPS-DILUTED> 0
<RESERVE-OPEN> 0
<PROVISION-CURRENT> 0
<PROVISION-PRIOR> 0
<PAYMENTS-CURRENT> 0
<PAYMENTS-PRIOR> 0
<RESERVE-CLOSE> 0
<CUMULATIVE-DEFICIENCY> 0
</TABLE>
