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): March 7, 1996
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 March 7, 1996, the Registrant announced an agreement to purchase 100% of
the stock of Southern California Service, Inc. from Highlands Insurance Group.
A copy of the press release dated March 7, 1996, 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 March 7, 1996.
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: March 12, 1996 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
March 7, 1996.
(*) This information appears only in the manually signed
original of this Current Report on Form 8-K.
Page 3 of 4 Pages
Amwest To Acquire Southern California Bonding Service, Inc.
Woodland Hills, CA - Thursday, March 7, 1996 - Amwest Surety Insurance Company,
the nation's largest underwriter of specialty surety bonds, today announced an
agreement to purchase 100% of the stock of Southern California Bonding Service,
Inc. from Highlands Insurance Group.
Southern California Bonding Service, Inc. is one of the largest producers of
probate and civil litigation bonds in California. With offices in Los Angeles,
Garden Grove, San Diego and San Jose, Southern California Bonding Service, Inc.
provides a variety of court and fiduciary bonds to the California legal
community, including probate, fiduciary and attachment bonds, preliminary
injunction bonds and other court-related obligations. During 1995, Southern
California Bonding Service, Inc. wrote over $6.0 million in premiums.
"The addition of Southern California Bonding Service, Inc. to Amwest enables us
to provide a complete line of coverages for the California legal community in
all court matters," said Richard Savage, Chairman and Co-Chief Executive Officer
of Amwest. "Southern California Bonding Service, Inc. has provided professional
service for several decades. And together, we will bethe surety of choice for
probate attorneys and conservators throughout California."
"We are delighted with the change in ownership," said James "Bubba" Lloyd,
General Manager of Southern California Bonding Service, Inc. All of us are
excited about being part of one of the largest surety insurance companies in the
nation. The combination of our experience and the resources of Amwest will allow
us to profitably increase our volume and provide better service to the
California legal community."
Amwest Surety Insurance Company is a subsidiary of Amwest Insurance Group, Inc.,
which reported 1995 written premiums of $70,000,000 and assets of $148,000,000.
Amwest provides a wide range of surety bonds, including contract performance
bonds for the construction industry, commercial surety bonds, and bail bonds.
Amwest is also the leading writer of court bonds in the state of California.
The Company operates through 30 branch offices nationwide and is licensed in all
states, the District of Columbia, Puerto Rico, Guam and American Samoa. Founded
in 1970, Amwest is publicly traded on the American Stock Exchange (AMEX, AMW),
is Treasury-listed and rated "A" (Excellent) by A.M. Best Company.
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For Information, contact: Mr. Jeffrey Shonka, Vice President 818-592-3300
