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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Vesta Insurance Group, Inc.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
925391510
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(CUSIP Number)
JUNE 29, 2000
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Continued on following page(s))
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CUSIP NO. 925391510
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1 Names of Reporting Persons
Identification Nos. of Above Persons (entities only)
WHITE MOUNTAINS INSURANCE GROUP, LTD. (NO. 94-2708455)
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 Citizenship or Place of Organization
BERMUDA
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Sole Voting Power
0
5
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Shared Voting Power
6
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2,057,788*
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Sole Dispositive Power
Number of 0
Shares 7
Beneficially -------------------------------------------------
Owned by Each Shared Dispositive Power
Reporting 2,057,788*
Person with 8
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Aggregate Amount Beneficially Owned by Each Reporting Person
9 2,057,788*
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Check Box if the Aggregate Amount in Row (11) Excludes
10 Certain Shares (See Instructions) / /
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Percent of Class Represented
by Amount in Row (11)
10.93%**
11
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Type of Reporting Person (See Instructions)
CO
12
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* The reporting person owns no shares of record and beneficially owns
(through wholly owned affiliates) 2,057,788 shares of common stock of
Vesta Insurance Group, Inc.
** Represents 8.32% of the voting capital stock of Vesta Insurance
Group, Inc.
2
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CUSIP NO. 925391510
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1 Names of Reporting Persons
Identification Nos. of Above Persons (entities only)
WHITE MOUNTAINS HOLDINGS (BARBADOS) SRL (NO. 94-2708455)
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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Citizenship or Place of Organization
4 BARBADOS
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Sole Voting Power
0
5
--------------------------------------------
Shared Voting Power
6
--------------------------------------------
2,057,788*
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Sole Dispositive Power
Number of 0
Shares 7
Beneficially --------------------------------------------
Owned by Each Shared Dispositive Power
Reporting 2,057,788*
Person with 8
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Aggregate Amount Beneficially Owned by Each Reporting Person
9 2,057,788*
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Check Box if the Aggregate Amount in Row (11) Excludes
10 Certain Shares (See Instructions) / /
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Percent of Class Represented
by Amount in Row (11)
11 10.93%**
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Type of Reporting Person (See Instructions)
12 CO
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* The reporting person owns no shares of record and beneficially owns
(through wholly owned affiliates) 2,057,788 shares of common stock of
Vesta Insurance Group, Inc.
** Represents 8.32% of the voting capital stock of Vesta Insurance
Group, Inc.
3
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CUSIP NO. 925391510
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1 Names of Reporting Persons
Identification Nos. of Above Persons (entities only)
WHITE MOUNTAINS PROPERTIES (BARBADOS) SRL (NO. 94-2708455)
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 Citizenship or Place of Organization
BARBADOS
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Sole Voting Power
0
5
--------------------------------------------
Shared Voting Power
2,057,788*
6
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Number of Sole Dispositive Power
Shares 0
Beneficially 7
Owned by Each --------------------------------------------
Reporting Shared Dispositive Power
Person with 8 2,057,788*
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Aggregate Amount Beneficially Owned by Each Reporting Person
9 2,057,788*
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Check Box if the Aggregate Amount in Row (11) Excludes
10 Certain Shares (See Instructions) / / -
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Percent of Class Represented
by Amount in Row (11)
11 10.93%**
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12 Type of Reporting Person (See Instructions)
CO
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* The reporting person owns no shares of record and beneficially owns
(through wholly owned affiliates) 2,057,788 shares of common stock of
Vesta Insurance Group, Inc.
** Represents 8.32% of the voting capital stock of Vesta Insurance
Group, Inc.
4
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CUSIP No. 925391510
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1 Names of Reporting Persons
Identification Nos. of Above Persons (entities only)
FOLKSAMERICA HOLDING COMPANY, INC. (NO. 13-3301641)
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 Citizenship or Place of Organization
NEW YORK
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Sole Voting Power
0
5
--------------------------------------------
Shared Voting Power
2,057,788*
6
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Number of Sole Dispositive Power
Shares 0
Beneficially 7
Owned by Each --------------------------------------------
Reporting Shared Dispositive Power
Person with 8 2,057,788*
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Aggregate Amount Beneficially Owned by Each Reporting Person
9 2,057,788*
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Check Box if the Aggregate Amount in Row (11) Excludes
10 Certain Shares (See Instructions) / /
-------------------------------------------------------------------------------
Percent of Class Represented
by Amount in Row (11)
11 10.93%**
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Type of Reporting Person (See Instructions)
CO
12
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* The reporting person owns no shares of record and beneficially owns
(through wholly owned affiliates) 2,057,788 shares of common stock of
Vesta Insurance Group, Inc.
** Represents 8.32% of the voting capital stock of Vesta Insurance
Group, Inc.
5
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CUSIP NO. 925391510
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1 Names of Reporting Persons
Identification Nos. of Above Persons (entities only)
FOLKSAMERICA REINSURANCE COMPANY (NO. 13-2997499)
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) / /
(b) / /
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3 SEC USE ONLY
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4 Citizenship or Place of Organization
NEW YORK
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Sole Voting Power
2,057,788*
5
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Shared Voting Power
0
6
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Number of Sole Dispositive Power
Shares 2,057,788*
Beneficially 7
Owned by Each --------------------------------------------
Reporting Shared Dispositive Power
Person with 8 0
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Aggregate Amount Beneficially Owned by Each Reporting Person
9 2,057,788*
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Check Box if the Aggregate Amount in Row (11) Excludes
10 Certain Shares (See Instructions) / /
-------------------------------------------------------------------------------
Percent of Class Represented
by Amount in Row (11)
11 10.93%**
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12 Type of Reporting Person (See Instructions)
IC; CO
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* The reporting person directly owns 2,057,788 shares of common stock
of Vesta Insurance Group, Inc. of record.
** Represents 8.32% of the voting capital stock of Vesta Insurance
Group, Inc.
6
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ITEM 1.
(a) NAME OF ISSUER Vesta Insurance Group, Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES 3760 River Run Drive,
Birmingham, Alabama 35243
ITEM 2.
(a), (b), (c) NAME OF PERSON FILING, ADDRESS OF PRINCIPAL BUSINESS OFFICE
AND CITIZENSHIP
This statement is filed by White Mountains Insurance Group, Ltd., a Bermuda
corporation ("WMIG"), White Mountains Holdings (Barbados) SRL, a Barbados
corporation ("WMH"), White Mountains Properties (Barbados) SRL, a Barbados
corporation ("WMP"), Folksamerica Holding Company, Inc., a New York Corporation
("FHC") and Folksamerica Reinsurance Group, Inc., a New York corporation (the
"COMPANY" and, together with WMIG, WMH, WMP and FHC, the "Filing Persons").
WMIG, WMH, WMP and FHC are financial services holding companies. The Company is
a property/casualty reinsurance company.
The address of the principal executive offices of WMIG is 80 South Main
Street, Hanover, New Hampshire 03755. The address of the principal executive
offices of WMH and WMP is The Financial Services Centre, Bishop's Hill Court,
St. Michael, Barbados, West Indies. The address of the principal business
offices of FHC and the Company is One Liberty Plaza, 19th Floor, New York, New
York 10006.
(d) TITLE OF CLASS OF SECURITIES Common Stock ($.01 par value)
(e) CUSIP NUMBER 925391510
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO Sections 240.13d-l(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C.
78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [X]1 Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C 80a-8).
(e) [ ] An investment adviser in accordance with
Section 240.13d-l(b)(1)(ii)(E);
-------------------------------
1 The Company is filing as an insurance company as defined in section
3(a)(19) of the Act (15 U.S.C. 78c).
7
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(f) [ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g) [X]2 A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 18 13);
(i) [ ] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 2,057,788* shares
(b) Percent of class: 10.93%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 2,057,788* .
(ii) Shared power to vote or to direct the vote _____.
(iii) Sole power to dispose or to direct the disposition of 2,057,788*.
(iv) Shared power to dispose or to direct the disposition of _____.
* The Company directly owns 2,057,788 shares of common stock of Vesta
Insurance Group, Inc. of record. WMIG, WMH, WMP and FHC own no shares of
record and
------------------------
2 WMIG, WMH, WMP and FHC are filing as parent holding companies or control
persons in accordance with Section 240.13d-1(b)(1)(ii)(G)
8
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beneficially own (through the Company) 2,057,788 shares of common stock of
Vesta Insurance Group, Inc. WMIG, WMH, WMP and FHC have shared power to
vote and shared power to dispose of 2,057,788 shares of common stock of
Vesta Insurance Group, Inc.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following / /.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
The subsidiary which acquired the security being issued is Folksamerica
Reinsurance Company, an insurance company as defined in Section 3(a)(19) of the
Act (15 U.S.C. 78c).
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
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 and are held in the ordinary
course of business and were not acquired and are not held for the purpose of
or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or
as a participant in any transaction having that purpose or effect.
9
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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.
Date: July 13, 2000
WHITE MOUNTAINS INSURANCE GROUP, LTD.
by: /S/
-----------------------------------------
Name: Michael S. Paquette
Title: Senior Vice President
10
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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.
Date: July 13, 2000
WHITE MOUNTAINS HOLDINGS (BARBADOS)
SRL
by: /S/
-----------------------------------------
Name: Kenneth F.G. Thomson
Title: President
11
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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.
Date: July 13, 2000
WHITE MOUNTAINS PROPERTIES (BARBADOS) SRL.
by: /S/
-----------------------------------------
Name: Kenneth F.G. Thomson
Title: President
12
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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.
Date: July 13, 2000
FOLKSAMERICA HOLDING COMPANY, INC.
by: /S/
-----------------------------------------
Name: Steven E. Fass
Title: President and CEO
13
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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.
Date: July 13, 2000
FOLKSAMERICA REINSURANCE COMPANY
by:
-----------------------------------------
Name: Steven E. Fass
Title: President and CEO
14
