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 15, 1995
Amwest Insurance Group, Inc.
(Exact name of Registrant as specified in its charter)
Delaware 1-9580 95-2672141
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File number) Identification No.)
6320 Canoga Avenue, Suite 300, Woodland Hills, California 91367
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (818)704-1111
This document contains a total of 4 pages. The
exhibit index begins on Page 3.
Page 1 of 4 Pages
<PAGE>
ITEM 5. Other Events.
On December 15, 1995, the Registrant announced the affirmation
by the Supreme Court of the State of California pertaining to the
decision by the Second District Court of Appeal overturning Insurance
Code Section 1861.135 which exempted surety from major provisions of
California Proposition 103.
A copy of the press release dated December 15, 1995,
announcing the above is attached hereto as Exhibit 99-1.
ITEM 7. Financial Statements and Exhibits
The following is furnished as an Exhibit to this report:
99-1 Press Release of Registrant dated December 15, 1995.
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, thereunto duly authorized.
AMWEST INSURANCE GROUP, INC.
Dated: December 21, 1995 By:/s/ STEVEN R. KAY
Steven R. Kay
Senior Vice President
Chief Financial Officer
Page 2 of 4 Pages
<PAGE>
INDEX OF EXHIBITS
Exhibit Sequentially
Number Description Numbered Page (*)
99-1 Press Release of Registrant dated 4
December 15, 1995.
(*) This information appears only in the manually signed
original of this Current Report on Form 8-K.
Page 3 of 4 Pages
AMWEST INSURANCE GROUP, INC. ANNOUNCES
SUPREME COURT RULING
REGARDING PROPOSITION 103
Friday, December 15, 1995 - Amwest Insurance Group, Inc. (AMEX-PSE-AMW)
announced that on Thursday, December 14, 1995, the Supreme Court of the State of
California affirmed the decision of the Second District Court of Appeal
overturning Insurance Code Section 1861.135 which exempted the surety insurance
industry from major provisions of Proposition 103. Accordingly, the surety
insurance industry will no longer be exempted from the rate rollback and prior
approval provisions contained in Proposition 103.
To date, the Company has not received any calculations from the California
Department of Insurance regarding the Company's Proposition 103 rollback amount.
The Company anticipates that it will accrue during the fourth quarter of 1995
its estimated rollback obligation pursuant to Proposition 103, the amount of
which has not yet been determined. However, as previously disclosed in the
Company's Annual Report on Form 10-K and subsequent filings on Form 10-Q, the
Company believes that the ultimate rollback amount will have a significant
impact on the Company's 1995 earnings, but is not expected to materially
adversely impact the Company's financial position.
Amwest is a Woodland Hills, California based insurance holding company,
specializing in surety bonds, including contract performance, court and license
and permit bonds.
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