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): August 30, 2000
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Amwest Insurance Group, Inc.
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(Exact name of Registrant as specified in its charter)
Delaware 1-9580 95-2672141
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File number) Identification No.)
5230 Las Virgenes Road, Calabasas, 91302
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (818) 871-2000
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Thisdocument contains a total of
4 pages. The exhibit index
begins on Page 3.
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ITEM 5. Other Events
On August 30, 2000, the Registrant responded to A.M. Best's
rating change announcement with respect to Amwest Insurance Group, Inc.
with a discussion on the Company's immediate objectives of
strengthening the capital positions of the insurance subsidiaries,
finalizing negotiations on revised terms for the bank loan and
implementing an updated business plan to improve the operational
performance of the insurance subsidiaries.
A.M. Best has downgraded the financial strength rating of
Amwest Insurance Group to a B (Fair) from A- (Excellent), and placed
them under review with negative implications. This rating action
applies to Amwest Surety Insurance Company and its subsidiary, Far West
Insurance Company. In a separate but related action, A.M. Best has
downgraded Condor Insurance Company from a B (Fair) to a D (Poor).
A copy of the press release dated August 30, 2000, 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 August 30, 2000.
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: September 22, 2000 By: /s/ Phillip E. Huff
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Phillip E. Huff
Senior Vice President
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INDEX OF EXHIBITS
Exhibit Sequentially
Number Description Numbered Page
99-1 Press Release of Registrant dated
August 30, 2000 4
