SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 1997
Commission file number 0-11413
MERIDIAN INSURANCE GROUP, INC.
(Exact name of registrant as specified in its charter)
Indiana 35-1689161
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
2955 North Meridian Street
P.O. Box 1980
Indianapolis, IN 46206
(Address of principal executive offices)
Registrant's telephone number, including area code: (317) 931-7000
MERIDIAN INSURANCE GROUP, INC., AND SUBSIDIARIES
ITEM 5. Other Events
See the following press release dated May 6, 1997, announcing
the authorization to repurchase outstanding common stock.
FOR IMMEDIATE RELEASE
Meridian Insurance Group Announces Stock Repurchase Plan
Meridian Insurance Group, Inc., announced today that its Board
of Directors has authorized the repurchase of up to 350,000
shares, or approximately 5% of the Company's outstanding common
stock. Purchases are authorized to be made from time to time in
open-market or privately negotiated transactions, depending on
market conditions.
"Meridian Insurance Group is committed to creating long-term
value for its shareholders," said Norma Oman, President and
Chief Executive Officer of the Company. "This action by the
Board is based on our confidence in the Company's future. The
Board believes that the recent market price of the stock does
not adequately reflect the true value of the Company.
Accordingly, Meridian Insurance Group stock represents an
attractive investment opportunity for the Company. We also
continue to look for attractive acquisitions and other
opportunities for profitable growth and geographic expansion."
Meridian Insurance Group, Inc., provides automobile,
homeowners, farmowners, and other personal lines coverage, and
commercial insurance. The insurance coverage is written in 13
states, principally in the Midwest.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
MERIDIAN INSURANCE GROUP, INC.
DATE: May 7, 1997 By: /s/ Norma J. Oman
Norma J. Oman, President and
Chief Executive Officer
DATE: May 7, 1997 By: /s/ Steven R. Hazelbaker
Steven R. Hazelbaker, Vice
President, Chief Financial
Officer and Treasurer
