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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): September 23, 1996
NATIONAL INSURANCE GROUP
(Exact name of registrant as specified in its charter)
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California 0-16332 94-3031790
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
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395 Oyster Point Boulevard, Suite 500
South San Francisco, California 94080
(Address of principal executive offices)
Registrant's telephone number, including area code: (415) 872-6772
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ITEM 5. OTHER EVENTS.
The Registrant's press release, dated September 17, 1996, is
filed as Exhibit 99.1 hereto and is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statement of businesses acquired.
Inapplicable.
(b) Pro forma financial information.
Inapplicable.
(c) Exhibits.
99.1 Press release, dated September 17, 1996.
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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.
NATIONAL INSURANCE GROUP
(Registrant)
Dated: September 23, 1996 /s/ Robert P. Barbarowicz
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Robert P. Barbarowicz,
Executive Vice President,
General Counsel and Secretary
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EXHIBIT INDEX
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Exhibit No. Description Page No.
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99.1 Press release, dated September 17, 1996.
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EXHIBIT 99.1
NATIONAL INSURANCE GROUP
395 OYSTER POINT BOULEVARD, SUITE 500
SOUTH SAN FRANCISCO, CALIFORNIA 94080-1933
NEWS RELEASE
Contact: ------------
Bruce Cole Date: September 17, 1996
415-872-6772 Time: 3:00 p.m.
Pacific Daylight Time
NATIONAL INSURANCE GROUP ANNOUNCES REPURCHASE OF SHARES AND
COMPLETION OF STOCK REPURCHASE PROGRAM
South San Francisco, California, September 17, 1996; National Insurance Group
(NASDAQ National Market: NAIG) announced today that it had repurchased 705,300
shares of the Company's common stock for approximately $5 million. The shares
were acquired through a private transaction with an institutional investor at a
price of $7 per share.
Upon settlement on September 20, 1996, the shares repurchased will be returned
to the status of authorized but unissued shares of the Company. The repurchase
will reduce the number of common shares outstanding to 3,996,897 and represents
a reduction of approximately 15% of the Company's outstanding stock.
The repurchase will complete the Company's previously announced stock
repurchase program.
National Insurance Group furnishes specialized information services, technology
and insurance products to financial institutions, mortgage bankers and others,
including flood zone determination services, mortgage and lease collateral
tracking services and forced-order and collateral protection insurance.
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