SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 17, 2000
ACCEPTANCE INSURANCE COMPANIES INC.
(Exact name of registrant as specified in its charter)
Delaware 1-7461 31-0742926
(State of Incorporation) (Commission File Number)(IRS Employer Identification
Number)
222 S. 15th Street, Suite 600 North
Omaha, Nebraska 68102
(Address of principal executive offices) (Zip Code)
(402) 344-8800
(Registrant's telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events.
(a) The registrant issued the following press release on
January 17, 2000:
For Immediate Release
Seaboard Underwriters, Inc. and Acceptance Insurance Companies Inc.
Announce Transfer of Commercial Auto Business
(Burlington, North Carolina and Omaha, Nebraska; January 17, 2000)
Seaboard Underwriters, Inc. and Acceptance Insurance Companies Inc. (NYSE: AIF)
announced today that they have reached an agreement in principle for Seaboard
to acquire the renewal rights to the commercial auto business produced and
underwritten by Redland Transportation, a unit of Acceptance. Seaboard will
employ the current Omaha staff of the unit and lease office facilities from
Acceptance. Seaboard also will provide policyholder services to current
Redland Transportation customers and, beginning not later than February 1, will
quote renewal coverage in various A-rated transportation specialty markets.
"We are very excited about the opportunities this transaction provides
for our company," said Seaboard Underwriters President Joseph P. Hutelmyer.
"The Redland Transportation operation complements our North Carolina operation
perfectly and gives Seaboard Underwriters a true national presence. It is rare
that a company can acquire an underwriting operation with a skilled staff and
an excellent transportation specialist agency plant." Hutelmyer also said the
current Redland Transportation manager, Mary Zeller, has been named Vice
President of the new operation and that, "Mary and her staff are able and
ready to provide a smooth transition for their loyal agents."
John E. Martin, President and Chief Executive Officer of Acceptance
commented, "This transfer allows us to narrow our focus on our core continuing
specialty lines business and provides excellent prospects for our staff, agents
and customers."
Acceptance Insurance Companies Inc. is an insurance holding company
providing specialized crop, property and casualty insurance products throughout
the United States. American Agrisurance, the company's wholly owned crop
insurance marketing subsidiary, is a widely recognized leader in the crop
insurance industry.
Contacts:
Joseph P. Hutelmyer, John E. Martin
President President and Chief Executive Officer
Seaboard Underwriters, Inc. Acceptance Insurance Companies Inc.
800 222 2407 (Ext. 201) 800 228 7217
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
ACCEPTANCE INSURANCE COMPANIES INC.
By /s/ J. Michael Gottschalk
J. Michael Gottschalk, Chief Legal Officer,
General Counsel and Secretary
January 18, 2000
