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, 1998
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:
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Common Capital Stock par value $1.00 per share
(Title of Class)
Number of outstanding shares as of June 30, 1998- 845,620
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 14, 1998 at 11:00 a.m.
the purpose of the meeting was to elect directors.
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(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 individuals were elected for a term of three (3) years and the
number of votes cast was as follows:
Dr. Jerry F. Howell, Jr. _ Number of Votes Cast FOR _ 725,523; WITHHELD - 310
David W. Reed _ Number of Votes Cast FOR _ 725,523; WITHHELD - 310
Helen S. Wagner _ Number of Votes Cast FOR _ 725,523; WITHHELD - 310
The other directors whose terms will continue after the meeting are:
Gordon Duke
Robert M. Hardy, Jr.
Harry Lee Waterfield II
H. Glenn Doran
Jerry F. Howell
ITEM 5. Other Information.
None.
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,
1998.
(c) Exhibit 27 - Financial Data Schedule.
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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: July 23, 1998
/s/
BY: JIMMY R. MCIVER
TREASURER
DATE: July 23, 1998
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<ARTICLE> 7
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<DEBT-HELD-FOR-SALE> 183,410,906
<DEBT-CARRYING-VALUE> 0
<DEBT-MARKET-VALUE> 0
<EQUITIES> 3,747,385
<MORTGAGE> 14,207,837
<REAL-ESTATE> 0
<TOTAL-INVEST> 210,207,957
<CASH> 2,411,439
<RECOVER-REINSURE> 142,194
<DEFERRED-ACQUISITION> 27,017,844
<TOTAL-ASSETS> 271,276,066
<POLICY-LOSSES> 198,669,165
<UNEARNED-PREMIUMS> 17,102,632
<POLICY-OTHER> 1,729,899
<POLICY-HOLDER-FUNDS> 1,829,851
<NOTES-PAYABLE> 0
0
0
<COMMON> 843,346
<OTHER-SE> 28,798,521
<TOTAL-LIABILITY-AND-EQUITY> 271,276,066
20,338,601
<INVESTMENT-INCOME> 6,850,593
<INVESTMENT-GAINS> 78,916
<OTHER-INCOME> 368,553
<BENEFITS> 9,050,436
<UNDERWRITING-AMORTIZATION> 30,110
<UNDERWRITING-OTHER> 16,818,602
<INCOME-PRETAX> 1,737,515
<INCOME-TAX> 449,725
<INCOME-CONTINUING> 1,287,790
<DISCONTINUED> 0
<EXTRAORDINARY> 358,600
<CHANGES> 0
<NET-INCOME> 929,190
<EPS-PRIMARY> 1.11
<EPS-DILUTED> 0
<RESERVE-OPEN> 0
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