AMENDMENT NO. 1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q/A
Quarterly Report Under Section 13 or 15 (d) of the Securities
Exchange Act of 1934
For the Period Ended September 30, 1994
Commission file number 0-14950
Argonaut Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware 95-4057601
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification number)
1800 Avenue of the Stars, Suite 1175, Los Angeles, California
(Address of principal executive offices)
90067-6045
(Zip Code)
310.553.0561
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all
reports to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements
for the past 90 days.
Yes X No
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As of October 21,1994 there were outstanding 25,388,994 shares
of common stock, par value $.10 per share, of the registrant.
Page 1 of 3 Pages
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THIS AMENDS THE CONSOLIDATED STATEMENTS OF INCOME ORIGINALLY FILED ON OCTOBER
31, 1994.
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<CAPTION>
ARGONAUT GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions except per share amounts)
(unaudited)
For the Quarter For the Nine Months
Ended September 30, Ended September 30,
1994 1993 1994 1993
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<S> <C> <C> <C> <C>
Premiums and other revenue:
Premiums, net $70.4 $71.6 $207.7 $232.5
Net investment income 28.2 27.7 83.3 83.7
Gains on sales of investments 0.4 1.6 2.7 2.8
------ ------ ------ ------
Total Revenue 99.0 100.9 293.7 319.0
------ ------ ------ ------
Expenses:
Losses and loss adjustment expenses 49.5 52.1 149.0 169.8
Underwriting, acquisition,
and insurance expenses 18.1 18.7 54.9 59.3
Amortization of cost in excess of
net assets purchased 0.7 0.7 2.1 2.1
Policyholder dividends 1.7 2.1 4.8 5.6
------ ------ ------ ------
Total Expenses 70.0 73.6 210.8 236.8
------ ------ ------ ------
Income before income taxes 29.0 27.3 82.9 82.2
Provision for income taxes 8.2 4.9 23.2 19.8
------ ------ ------ ------
Net Income $20.8 $22.4 $59.7 $62.4
====== ====== ====== ======
Income Per Common Share: $0.81 $0.87 $2.33 $2.44
====== ====== ====== ======
Weighted Average Common Shares 25,609,335 25,644,842 25,655,154 25,623,822
========== ========== ========== ==========
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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 thereunto duly authorized.
Argonaut Group, Inc.
(Registrant)
/s/ Charles E. Rinsch
- - ----------------------
Charles E. Rinsch
President (principal executive officer)
/s/ James B Halliday
- - ---------------------
James B Halliday
Vice President and Treasurer
(principal financial and accounting officer)
November 4, 1994
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