<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____)*
The BlackRock 2001 Term Trust Inc.
------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
------------------------------------------
(Title of Class of Securities)
092477108
-----------------
(CUSIP Number)
April 1, 1999
---------------
(Date of Event which requires filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following page(s))
Page 1 of 23 Pages
<PAGE> 2
13G
CUSIP NO. 092477108 PAGE 2 OF 23 PAGES
---------- -- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Progressive Corporation
34-0963169
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 9,193,100**
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
9,193,100**
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,193,100**
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**Consists solely of shares held by its subsidiaries.
<PAGE> 3
13G
CUSIP NO. 092477108 PAGE 3 OF 23 PAGES
---------- -- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Halcyon Insurance Company
34-1524319
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 20,000
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
20,000
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,000
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
13G
CUSIP NO. 092477108 PAGE 4 OF 23 PAGES
--------- -- --
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PC Investment Company
34-1576555
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 827,300
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
827,300
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
827,300
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO, a wholly-owned subsidiary of Progressive Casualty Insurance Company
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
13G
CUSIP NO. 092477108 PAGE 5 OF 23 PAGES
--------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Casualty Insurance Company
34-6513736
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 5,202,300**
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
5,202,300**
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,202,300**
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, HC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**Includes 2,457,300 shares held directly, and 827,300 shares held by PC
Investment Company and 1,917,700 shares held by Progressive Specialty Insurance
Company, its wholly-owned subsidiaries.
<PAGE> 6
13G
CUSIP NO. 092477108 PAGE 6 OF 23 PAGES
--------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Classic Insurance Company
39-1453002
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Wisconsin
- -------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 493,000
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
493,000
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
493,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
13G
CUSIP NO. 092477108 PAGE 7 OF 23 PAGES
---------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Consumers Insurance Company
59-3213819
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 145,400
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
145,400
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
145,400
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 8
13G
CUSIP NO. 092477108 PAGE 8 OF 23 PAGES
---------- --- ---
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Express Insurance Company
59-3213719
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 500,000
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
500,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
500,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 9
13G
CUSIP NO. 092477108 PAGE 9 OF 23 PAGES
---------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Northern Insurance Company
34-1318335
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Wisconsin
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 851,000**
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
851,000**
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
851,000**
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.6%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN, HC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
**Includes 815,000 shares held directly and 36,000 shares held by Progressive
Universal Insurance Company of Illinois, its wholly-owned subsidiary.
<PAGE> 10
13G
CUSIP NO. 092477108 PAGE 10 OF 23 PAGES
---------- ---- ----
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Northwestern Insurance Company
91-1187829
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Washington
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 665,000
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
665,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
665,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.5%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 11
13G
CUSIP NO. 092477108 PAGE 11 OF 23 PAGES
---------- ---- ----
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Paloverde Insurance Company
86-0686869
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Arizona
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 100,000
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
100,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 12
13G
CUSIP NO. 092477108 PAGE 12 OF 23 PAGES
---------- --- ----
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Preferred Insurance Company
34-1287020
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 2,400
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
2,400
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,400
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 13
13G
CUSIP NO. 092477108 PAGE 13 OF 23 PAGES
---------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Southeastern Insurance Company
59-1951700
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 203,500
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
203,500
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
203,500
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.1%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 14
13G
CUSIP NO. 092477108 PAGE 14 OF 23 PAGES
---------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Specialty Insurance Company
34-1172685
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Ohio
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 1,917,700
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
1,917,700
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,917,700
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 15
13G
CUSIP NO. 092477108 PAGE 15 OF 23 PAGES
--------- ---- ----
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Progressive Universal Insurance Company of Illinois
36-3789787
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 36,000
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
36,000
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,000
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 16
13G
CUSIP NO. 092477108 PAGE 16 OF 23 PAGES
---------- --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
United Financial Casualty Company
36-3298008
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Missouri
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 1,010,500
PERSON
WITH 7 SOLE DISPOSITIVE POWER
-0-
8 SHARED DISPOSITIVE POWER
1,010,500
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,010,500
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|X|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 17
Page 17 of 23 Pages
---- ----
SCHEDULE 13G
------------
Item 1(a) Name of Issuer:
- --------- ---------------
The name of the issuer is The BlackRock 2001 Term Trust Inc.
(the "Issuer").
Item 1(b) Address of Issuer's Principal Executive Offices:
- --------- ------------------------------------------------
The address of the Issuer's principal executive offices is
1285 Avenue of the Americas, New York, New York 10019.
Item 2(a) Name of Person Filing:
- --------- ----------------------
This statement is filed jointly by the following parties
(collectively, the "Reporting Persons"): (a) Progressive
Classic Insurance Company, an Ohio corporation, (b) PC
Investment Company, a Delaware corporation, (c) Progressive
Casualty Insurance Company, an Ohio corporation, (d)
Progressive Northern Insurance Company, a Wisconsin
corporation, (e) Progressive Northwestern Insurance Company, a
Washington corporation, (f) Progressive Preferred Insurance
Company, an Ohio corporation, (g) Progressive Southeastern
Insurance Company, a Florida corporation, (h) Progressive
Specialty Insurance Company, an Ohio corporation, (i)
Progressive Paloverde Insurance Company, an Arizona
corporation, (j) Progressive Consumers Insurance Company, a
Florida corporation, (k) Progressive Express Insurance
Company, a Florida corporation, (l) Halcyon Insurance Company,
an Ohio corporation, (m) United Financial Casualty Company, a
Missouri corporation and (n) Progressive Universal Insurance
Company of Illinois, an Illinois corporation (collectively,
the "Subsidiaries") and The Progressive Corporation, an Ohio
corporation, by virtue of its direct or indirect ownership of
all of the outstanding capital stock of the Subsidiaries.
All of the outstanding shares of PC Investment Company and
Progressive Specialty Insurance Company are owned by
Progressive Casualty Insurance Company, and all of the
outstanding shares of Progressive Universal Insurance Company
of Illinois are owned by Progressive Northern Insurance
Company. Except as noted in the preceding sentence, all of the
outstanding shares of each of the Subsidiaries is owned
directly by The Progressive Corporation.
Item 2(b) Address of Principal Business Office or, if none, Residence:
- --------- ------------------------------------------------------------
The address of the principal business office of each of the
Reporting Persons is as follows:
<TABLE>
<CAPTION>
Reporting Person Business Address
---------------- ----------------
<S> <C>
The Progressive Corporation 6300 Wilson Mills Road
Mayfield Village, OH 44143
Halcyon Insurance Company 6300 Wilson Mills Road
Mayfield Village, OH 44143
PC Investment Company 801 West Street
Wilmington, DE 19801
Progressive Casualty Insurance Company 6300 Wilson Mills Road
Mayfield Village, OH 44143
Progressive Classic Insurance Company 44 East Mifflin Street
Madison, WI 53703
Progressive Consumers Insurance Company 4030 Crescent Park Dr., Bldg. B
Riverview, FL 33569
</TABLE>
<PAGE> 18
Page 18 of 23 Pages
------ ------
<TABLE>
<S> <C>
Reporting Person Business Address
---------------- ----------------
Progressive Express Insurance Company 4030 Crescent Park Dr., Bldg. B
Riverview, FL 33569
Progressive Northern Insurance Company 44 East Mifflin Street
Madison, WI 53703
Progressive Northwestern Insurance Company 200 112th Ave., NE, Suite 200
Bellevue, Washington 98004
Progressive Paloverde Insurance Company 3225 North Central Avenue
Phoenix, AZ 85102
Progressive Preferred Insurance Company 6300 Wilson Mills Road
Mayfield Village, OH 44143
Progressive Southeastern Insurance Company 4030 Crescent Park Dr., Bldg. B
Riverview, FL 33569
Progressive Specialty Insurance Company 6300 Wilson Mills Road
Mayfield Village, OH 44143
Progressive Universal Insurance Company of Illinois 333 East Butterfield Road, Suite
220, Lombard, IL 60148
United Financial Casualty Company 11457 Olde Cabin Rd, Suite 235
St. Louis, MO 63141
</TABLE>
<TABLE>
<CAPTION>
Item 2(c) Citizenship:
- --------- ------------
Reporting Person State of Incorporation
---------------- ----------------------
<S> <C>
The Progressive Corporation Ohio
Halcyon Insurance Company Ohio
PC Investment Company Delaware
Progressive Casualty Insurance Company Ohio
Progressive Classic Insurance Company Wisconsin
Progressive Consumers Insurance Company Florida
Progressive Express Insurance Company Florida
Progressive Northern Insurance Company Wisconsin
Progressive Northwestern Insurance Company Washington
Progressive Paloverde Insurance Company Arizona
Progressive Preferred Insurance Company Ohio
Progressive Southeastern Insurance Company Florida
Progressive Specialty Insurance Company Ohio
Progressive Universal Insurance Company of Illinois Illinois
United Financial Casualty Company Missouri
</TABLE>
Item 2(d) Title of Class of Securities:
- --------- -----------------------------
The class of securities which is the subject of this Schedule
13G is the Common Shares, $.01 par value per share, of the
Issuer.
Item 2(e) CUSIP Number:
- --------- -------------
The CUSIP number for such class of securities is 092477108
Item 3. Not Applicable.
- ------- ---------------
<PAGE> 19
Page 19 of 23 Pages
------ ------
Item 4. Ownership (as of April 6, 1999)
- ------- -------------------------------
(a) Amount Beneficially Owned: No. of Shares
-------------------------- -------------
The Progressive Corporation 9,193,100(1)
Subsidiaries
------------
Halcyon Insurance Company 20,000
PC Investment Company 827,300
Progressive Casualty Insurance Company 5,202,300(2)
Progressive Classic Insurance Company 493,000
Progressive Consumers Insurance Company 145,400
Progressive Express Insurance Company 500,000
Progressive Northern Insurance Company 851,000(3)
Progressive Northwestern Insurance Company 665,000
Progressive Paloverde Insurance Company 100,000
Progressive Preferred Insurance Company 2,400
Progressive Southeastern Insurance Company 203,500
Progressive Specialty Insurance Company 1,917,700
Progressive Universal Insurance Company of Illinois 36,000
United Financial Casualty Company 1,010,500
---------
TOTAL 9,193,100(4)
(b) Percent of Class 6.5%
----------------
- --------
(1)Consists solely of shares held by the Subsidiaries listed herein.
(2)Includes 2,457,300 shares held directly and 827,300 shares held by
PC Investment Company and 1,917,700 shares held by Progressive Specialty
Insurance Company, its wholly-owned subsidiaries.
(3)Includes 815,000 shares held directly and 36,000 shares held by
Progressive Universal Insurance Company of Illinois, its wholly-owned
subsidiary.
(4)Computed without duplication of reported shares.
<PAGE> 20
Page 20 of 23 Pages
----- -----
(c) Number of shares as to which the person has
-------------------------------------------
<TABLE>
<CAPTION>
(i) (ii) (iii) (iv)
Sole Power Shared Power Sole Power Shared Power
to Vote to Vote to Dispose to Dispose
or to or to or to or to
Direct Direct Direct the Direct the
the Vote the Vote Disposition Disposition
--------- ----------- ---------- -----------
<S> <C> <C> <C> <C>
The Progressive
Corporation 0 9,193,100(1) 0 9,193,100(1)
Subsidiaries
- ------------
Halcyon Insurance Company 0 20,000 0 20,000
PC Investment Company 0 827,300 0 827,300
Progressive Casualty Insurance Company 0 5,202,300(2) 0 5,202,300(2)
Progressive Classic Insurance Company 0 493,000 0 493,000
Progressive Consumers Insurance Company 0 145,400 0 145,400
Progressive Express Insurance Company 0 500,000 0 500,000
Progressive Northern Insurance Company 0 851,000(3) 0 851,000(3)
Progressive Northwestern Insurance Company 0 665,000 0 665,000
Progressive Paloverde Insurance Company 0 100,000 0 100,000
Progressive Preferred Insurance Company 0 2,400 0 2,400
Progressive Southeastern Insurance Company 0 203,500 0 203,500
Progressive Specialty Insurance Company 0 1,917,700 0 1,917,700
Progressive Universal Insurance Company
of Illinois 0 36,000 0 36,000
United Financial Casualty Company 0 1,010,500 0 1,010,500
------ ----------- ------ ---------
TOTALS 0 9,193,100(4) 0 9,193,100(4)
------ ----------- ---------
<FN>
- --------------------------
1 Consists solely of shares held by the Subsidiaries listed herein.
2 Includes 2,457,300 shares held directly and 827,300 shares held by
PC Investment Company and 1,917,700 shares held by Progressive Specialty
Insurance Company, its wholly-owned subsidiaries.
3 Includes 815,000 shares held directly and 36,000 shares held by
Progressive Universal Insurance Company of Illinois, its wholly-owned
subsidiary.
4 Computed without duplication of reported shares.
</TABLE>
<PAGE> 21
Page 21 of 23 Pages
------- -------
Item 5 Ownership of Five Percent or Less of a Class:
--------------------------------------------
Not Applicable.
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
- ------ ---------------------------------------------------------------
Not Applicable.
Item 7 Identification and Classification of the Subsidiary Which
- ------ ---------------------------------------------------------
Acquired the Security Being Reported on By the Parent Holding
-------------------------------------------------------------
Company:
--------
Not Applicable.
Item 8 Identification and Classification of Members of the Group:
- ------ ---------------------------------------------------------
Not Applicable.
Item 9 Notice of Dissolution of Group:
- ------ ------------------------------
Not Applicable.
Item 10 Certifications:
- ------- ---------------
By signing below we certify that, to the best of our knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose
or effect.
<PAGE> 22
Page 22 of 23 Pages
-------- -----
SIGNATURE
---------
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned hereby certify that the information set forth in this statement is
true, complete and correct.
Date: April 9, 1999
The Progressive Corporation
Halcyon Insurance Company
PC Investment Company
Progressive Casualty Insurance Company
Progressive Classic Insurance Company
Progressive Consumers Insurance Company
Progressive Express Insurance Company
Progressive Northern Insurance Company
Progressive Northwestern Insurance Company
Progressive Paloverde Insurance Company
Progressive Preferred Insurance Company
Progressive Southeastern Insurance Company
Progressive Specialty Insurance Company
Progressive Universal Insurance Company of Illinois
United Financial Casualty Company
By: /s/ David M. Schneider
-----------------------------------------
David M. Schneider
Secretary
<PAGE> 23
Page 23 of 23 Pages
-------- ------
EXHIBIT A
This Exhibit A to Schedule 13G is filed pursuant to the requirements of Rules
13d-1(c) and 13d-1(k)(1). The undersigned hereby agree that the Schedule 13G to
which this Exhibit is attached is filed on behalf of each of the undersigned.
Dated: April 9, 1999
The Progressive Corporation
Halcyon Insurance Company
PC Investment Company
Progressive Casualty Insurance Company
Progressive Classic Insurance Company
Progressive Consumers Insurance Company
Progressive Express Insurance Company
Progressive Northern Insurance Company
Progressive Northwestern Insurance Company
Progressive Paloverde Insurance Company
Progressive Preferred Insurance Company
Progressive Southeastern Insurance Company
Progressive Specialty Insurance Company
Progressive Universal Insurance Company of
Illinois
United Financial Casualty Company
By: /s/ David M. Schneider
----------------------------------
David M. Schneider, Secretary
