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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): December
23, 1997
MMI Companies, Inc.
(Exact name of registrant as specified in its charter)
Commission file number: 1-11920
Delaware 36-3263253
(State or other jurisdiction (IRS
Employer
incorporation or organization)
Identification No,)
540 Lake Cook Road, Deerfield, Illinois 60015-5290
(Address of principal executive offices)
(847) 940-7550
(Registrant's telephone number, including area code)
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Item 5. Other Events.
Filed as an exhibit is a press release of the registrant
dated December 23, 1997 relating to the completion of an
offering of $125 Million in Capital Securities by the
Company.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 99. Press release of the registrant dated
December 23, 1997
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 hereunto duly
authorized.
MMI Companies,
Inc.
(Registrant)
Date: December 23, 1997 B. Frederick
Becker
B. Frederick Becker
Chairman and Chief Executive
Officer
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Exhibit 99
Contact: Paul Orzech
47-374-2369
MMI Companies, Inc. Completes Offering of $125 Million in Capital
Securities
DEERFIELD, IL, December 23, 1997 -- MMI Companies, Inc.
(NYSE:MMI) announced today the completion of a private placement
of $125 million in Capital Securities of MMI Capital Trust I, a
subsidiary of MMI. The Capital Securities are rated a3 by Moody's
Investors Service and BBB+ by Standard & Poor's Ratings Services.
Each Capital Security will pay cumulative distributions at the
annual rate of 7 5/8% semiannually in arrears beginning June 15,
1998 and will have a maturity date of December 15, 2027. Payments
on the Capital Securities are fully and unconditionally
guaranteed by MMI.
The proceeds of the offering will be used to repay existing bank
debt of MMI and its recently acquired subsidiary, Unionamerica
Holdings plc, and for general corporate purposes, which may
include other acquisitions and investments in, or extensions of
credit to, MMI's subsidiaries.
The Capital Securities, which were sold in a private placement
under Rule 144A, are not registered under the Securities Act of
1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be
an offer or sale of the securities in an offering in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
such state. MMI plans to file a registration statement within 150
days of the issue date.
MMI Companies, Inc. is an international healthcare services
company with more than 20 years experience providing a wide range
of products and services that help the healthcare industry
enhance its performance and manage risks associated with the
delivery of care. Through its operating subsidiaries, MMI
provides strategic consulting services, clinical risk management
and operational consulting services and insurance and reinsurance
products to the healthcare industry, as well as property and
casualty insurance for a variety of U.S. single industry and/or
single state risks. In addition to its Deerfield headquarters,
MMI has a network of offices throughout the United States and
overseas.
