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): June 23, 1999
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HARLEYSVILLE GROUP INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-14697 51-0241172
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(State or other jurisdiction (Commission (IRS
Employer
of incorporation) File Number) Identification
No.)
355 Maple Avenue, Harleysville, Pennsylvania 19438
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(Address of principal executive offices) (Zip Code)
(215) 256-5000
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Registrant's telephone number, including area code
N/A
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(Former name or former address, if changed since last report.)
Item 5. Other Events
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On June 23, 1999, Harleysville Group Inc. issued the
following press release announcing repurchase plans for each of
Harleysville Group Inc. and Harleysville Mutual Insurance Company
to purchase up to 500,000 shares of Harleysville Group common
stock, up to a total of 1,000,000 shares.
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HARLEYSVILLE GROUP AND HARLEYSVILLE MUTUAL
AUTHORIZE STOCK REPURCHASE PLANS
HARLEYSVILLE, PA - JUNE 23, 1999 - Harleysville Group Inc.
(NASDAQ:HGIC) and Harleysville Mutual Insurance Company today
announced that their boards of directors have authorized
repurchase plans for each company to purchase up to 500,000
shares of Harleysville Group common stock, up to a total of
1,000,000 shares.
Under the terms of the plans, each company may make
purchases out of internal funds in the open market or in
privately negotiated transactions. The timing and terms will be
based on market conditions and will be conducted in accordance
with the applicable rules of the SEC. Both companies will make
share purchases in equal amounts. The shares acquired by
Harleysville Group will be held as treasury stock and may be
issued for its employee and agent stock plans. The shares
acquired by Harleysville Mutual will be held for investment
purposes.
The repurchase programs have been authorized for a two-year
period. The plans may be terminated at any time at the
discretion of either company.
Harleysville Group Inc. is a holding company that includes
nine regional property and casualty insurance companies whose
marketing territory encompasses 31 states in the eastern half of
the United States. The companies include: Great Oaks Insurance
Company; Harleysville-Atlantic Insurance Company; Harleysville
Insurance Company of New Jersey; Huron Insurance Company; Lake
States Insurance Company; Mid-America Insurance Company;
Minnesota Fire and Casualty Company; New York Casualty Insurance
Company; and Worcester Insurance Company. Additionally, the
company operates two limited partnerships: Harleysville Asset
Management L.P. and Insurance Management Resources L.P.
Further information about Harleysville Group can be found on
the company's Internet Web site (www.harleysvillegroup.com).
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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.
HARLEYSVILLE GROUP INC.
Registrant
/s/ Mark R. Cummins
June 23, 1999 -----------------------------
Mark R. Cummins
Executive Vice President,
Chief Investment Officer &
Treasurer
