SCHEDULE 13G
Amendment No. 2
Acceptance Insurance Company Incorporated
common stock
Cusip # 004308102
Filing Fee: No
Cusip # 004308102
Item 1: Reporting Person - FMR Corp. - (Tax ID: 04-2507163)
Item 4: Commonwealth of Massachusetts
Item 5: None
Item 6: None
Item 7: 1,000,000
Item 8: None
Item 9: 1,000,000
Item 11: 10.01%
Item 12: HC
Cusip # 004308102
Item 1: Reporting Person - Edward C. Johnson 3d - (Tax ID:
###-##-####)
Item 4: United States of America
Item 5: None
Item 6: None
Item 7: 1,000,000
Item 8: None
Item 9: 1,000,000
Item 11: 10.01%
Item 12: IN
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
Item 1(a). Name of Issuer:
Acceptance Insurance Company Incorporated
Item 1(b). Name of Issuer's Principal Executive Offices:
222 S. 15th Street, Suite 600
Omaha, NE 68102
Item 2(a). Name of Person Filing:
FMR Corp.
Item 2(b). Address or Principal Business Office or, if None,
Residence:
82 Devonshire Street, Boston, Massachusetts 02109
Item 2(c). Citizenship:
Not applicable
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
004308102
Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-
2(b) and the person filing, FMR Corp., is a parent
holding company in accordance with Section 240.13d-
1(b)(ii)(G). (Note: See Item 7).
Item 4. Ownership
(a) Amount Beneficially Owned: 1,000,000
(b) Percent of Class: 10.01%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
None
(ii) shared power to vote or to direct the vote:
None
(iii) sole power to dispose or to direct the
disposition of: 1,000,000
(iv) shared power to dispose or to direct the
disposition of: None
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
Various persons have the right to receive or the
power to direct the receipt of dividends from, or
the proceeds from the sale of, the common stock of
Acceptance Insurance Company Incorporated. The
interest of one person, Fidelity Capital
Appreciation Fund, an investment company
registered under the Investment Company Act of
1940, in the common stock of Acceptance Insurance
Company Incorporated, amounted to 1,000,000 shares
or 10.01% of the total outstanding common stock at
December 31, 1993. The number of shares of common
stock of Acceptance Insurance Company Incorporated
owned by the investment company at December 31,
1993 included 300,000 shares of common stock
resulting from the assumed conversion of 300,000
shares of Warrants (1 share of common stock for
each Warrant).
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company.
See attached Exhibit(s) A and B.
Item 8. Identification and Classification of Members of the
Group.
Not applicable, see attached Exhibit A.
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 purpose or effect.
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.
February 11, 1994
Date
/S/Arthur S. Loring
Signature
Arthur S. Loring, Vice
President
Name/Title
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
Pursuant to the instructions in Item 7 of Schedule 13G,
Fidelity Management & Research Company ("Fidelity"), 82
Devonshire Street, Boston, Massachusetts 02109, a wholly-owned
subsidiary of FMR Corp. and an investment adviser registered
under Section 203 of the Investment Advisers Act of 1940, is
the beneficial owner of 1,000,000 shares or 10.01% of the
common stock outstanding of Acceptance Insurance Company
Incorporated ("the Company") as a result of acting as
investment adviser to several investment companies registered
under Section 8 of the Investment Company Act of 1940. The
number of shares of common stock of Acceptance Insurance
Company Incorporated owned by the investment companies at
December 31, 1993 included 300,000 shares of common stock
resulting from the assumed conversion of 300,000 shares of
Warrants (1 share of common stock for each Warrant).
The ownership of one investment company, Fidelity Capital
Appreciation Fund, amounted to 1,000,000 shares or 10.01% of
the common stock outstanding. The number of shares of common
stock of Acceptance Insurance Company Incorporated owned by the
investment company at December 31, 1993 included 300,000 shares
of common stock resulting from the assumed conversion of
300,000 shares of Warrants (1 share of common stock for each
Warrant). Fidelity Capital Appreciation Fund has its principal
business office at 82 Devonshire Street, Boston, Massachusetts
02109.
Edward C. Johnson 3d, FMR Corp., through its control of
Fidelity, and the Funds each has sole power to dispose of the
1,000,000 shares owned by the Funds.
Neither FMR Corp. nor Edward C. Johnson 3d, Chairman of FMR
Corp., has the sole power to vote or direct the voting of the
Shares owned directly by the Fidelity Funds, which power
resides with the Funds' Boards of Trustees. Fidelity carries
out the voting of the Shares under written guidelines
established by the Funds' Boards of Trustees.
Edward C. Johnson 3d owns 34.0% of the outstanding voting
common stock of FMR Corp. Mr. Johnson 3d is Chairman of FMR
Corp. Various Johnson family members and trusts for the
benefit of Johnson family members own FMR Corp. voting common
stock. These Johnson family members, through their ownership
of voting common stock, form a controlling group with respect
to FMR Corp.
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
RULE 13d-1(e) AGREEMENT
The undersigned persons, on February 11, 1994, agree and
consent to the joint filing on their behalf of this Schedule
13G in connection with their beneficial ownership of the common
stock of Acceptance Insurance Company Incorporated at December
31, 1993.
FMR Corp.
By /S/Arthur S. Loring
Arthur S. Loring
Vice President - Legal
Edward C. Johnson 3d
By /S/Arthur S. Loring
Arthur S. Loring
Under Power of Attorney
dated 5/17/89
On File with Schedule
13G for
Airborne Freight Corp.
9/10/91
Fidelity Management & Research
Company
By /S/Arthur S. Loring
Arthur S. Loring
Sr. V.P. and General
Counsel
Fidelity Capital Appreciation
Fund
By /S/Arthur S. Loring
Arthur S. Loring
Secretary
