U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING SEC FILE NUMBER
1-7461
(Check One) CUSIP NUMBER
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1995
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ___________________
_________________________________________________________________
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
_________________________________________________________________
If the notification relates to a portion of the filing
checked above, identify the Item(s) to which the notification
relates: _______________________________________________________
____________________________________________________________
_________________________________________________________________
Part I -- Registrant Information
_________________________________________________________________
Full Name of Registrant
Acceptance Insurance Companies Inc.
Former Name if Applicable
N/A
Address of Principal Executive Office (Street and Number)
222 South 15th Street, Suite 600 North, Omaha, Nebraska 68102
_________________________________________________________________
Part II -- Rules 12b-25(b) and (c)
_________________________________________________________________
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to
Rule 12b-25(b) [para. 23,047], the following should be completed.
(Check box if appropriate)
(a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without unreasonable effort
or expense; [X]
(b) The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or
portion thereof will be filed on or before the fifteenth calendar
day following the prescribed due date; or the subject quarterly
report or transition report on Form 10-Q, or portion thereof will
be filed on or before the fifth calendar day following the
prescribed due date; [X]
(c) the accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable. [ ]
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Part III -- Narrative
_________________________________________________________________
State below in reasonable detail the reasons why Form 10-K and
Form 10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the
transition report or portion thereof could not be filed within
the prescribed period.
Registrant has received a series of staff comment letters
relating to its Annual Report on Form 10-K for the year ended
December 31, 1994 (the "1994 10-K") and the Quarterly Reports on
Form 10-Q for the first three fiscal quarters of the 1995 fiscal
year (the "1995 10-Qs"), and is continuing to respond to requests
for supplemental information set forth therein. By letter dated
March 19, 1996, the staff requested further information regarding
loss reserve strengthening recorded by Registrant and reported in
its second and third quarter 1995 10-Qs. Questions were raised
regarding the extent to which Registrant, in consultation with
its actuaries and auditors, has considered, under cited
accounting regulations, amending the 1994 10-K and the 1995
10-Qs, including amending the audited consolidated financial
statements included in the 1994 10-K, because of such reserve
additions. Registrant expects in the near future to clarify
these issues with the staff and, with its auditors, feels that
the questions regarding the impact on prior financial disclosures
of 1995 reserve strengthening should be resolved before filing
the Annual Report on Form 10-K for the year ended December 31,
1995, in order to avoid unreasonable effort and expense.
_________________________________________________________________
Part IV -- Other Information
_________________________________________________________________
(1) Name and telephone number of person to contact in regard
to this notification
Donn E. Davis (402) 434-7300
(2) Have all other periodic reports required under section
13 or 15(d) of the Securities Exchange Act of 1934 or section 30
of the Investment Company Act of 1940 during the preceding 12
months or for such shorter period that the registrant was
required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results
of operations from the corresponding period for the last fiscal
year will be reflected by the earnings statements to be included
in the subject report or portion thereof?
[X] Yes [ ] No
If so: attach an explanation of the anticipated change,
both narratively and quantitatively, and, if appropriate, state
the reasons why a reasonable estimate of the results cannot be
made.
ACCEPTANCE INSURANCE COMPANIES INC.
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
/s/ Kenneth C. Coon
Date: March 29, 1996 By ________________________________
Kenneth C. Coon, Chairman and
Chief Executive Officer
<PAGE>
Attachment
Part IV -- Other Information (3)
Operating results for the fiscal year ended December 31,
1995, set forth in the Annual Report on Form 10-K will have an
impact on earnings represented by the reserve strengthening
described above. As a result, it is expected that earnings for
the year ended December 31, 1995, will be $4,155,000, as compared
to $21,075,000 for the year ended December 31, 1994.
