<TABLE> FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange
Act of 1934, Section 17(a) of the Public Utility Holding
Company Act of 1935 or Section 30(f) of the Investment
Company Act of 1940
1. Name and Address of Reporting Person 2. Date of Event 4. Issuer Name and Ticker or Trading Symbol
Requiring
Heinz-Lenk Karl Statement Acceptance Insurance Companies Inc. (AIF)
(Last) (First) (Middle) (Month/Day/
Year)
5. Relationship of Reporting Person to 6. If Amendment,
9/15/97 Issuer Date of
(check all applicable) Original
222 S. 15th Street, Suite 600 N. 3. IRS or Social (Month/Day
(Street) Security ___ Director ___ 10% Owner Year)
Number of _X_ Officer (give ___ Other (specify
Reporting title below) N/A
Person below
Omaha NE 68102 (Voluntary) 7. Individual or
(City) (State) (Zip) Vice President - Joint/Group
Information Systems Filing (Check
applicable
line)
X Form filed
by One
Reporting
Person
__Form filed
by More than
One Reporting
Person<PAGE>
<CAPTION>
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial
Beneficially Owned Direct (D) or Ownership (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
- ------------------------------ ------------------------ ------------------- --------------------------------
<S> <C> <C> <C>
Common Stock 17 I* 401(K)*
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly
(Print or Type Responses)<PAGE>
<CAPTION>
FORM 3 (continued) Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Date Exercisable 3. Title and Amount of Securities Underlying 4. Conversion
(Instr. 4) and Expiration Derivative Security or Exercise
Date (Instr. 4) Price of
(Month/Day/Year) Derivative
------------------- -------------------------------------------- Security
Date Expira- Amount
Exer- tion or
cisable Date Title Number
of
Shares
- ------------------------------- -------- -------- -------------------------------- ---------- --------------
5. Ownership Form of 6. Nature of Indirect
Derivative Security: Beneficial Ownership
Direct (D) or (Instr. 5)
Indirect (I)
(Instr. 5)
- ------------------------ -----------------------
<PAGE>
<FN>
Explanation of Responses:
*The shares are held in the Reporting Person's account by the Trustee
of Acceptance Insurance Companies Inc. Employee Stock Ownership and Tax
Deferred Savings Plan (KSOP).
**Intentional misstatements or omissions of facts constitute /s/ Karl Heinz-Lenk 9/17/97
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. --------------------------------------------
78ff(a). **Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be
manually signed. If space provided is insufficient, see
Instruction 6 for procedure.
</FN>
</TABLE>