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) January 15, 1998
HOME HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware 0-19347 13-3584978
(State of Incorporation) (Commission file number) (I.R.S. Employer
Identification No.)
59 Maiden Lane, New York, New York 10038-4548
(Address or principal executive office) (Zip Code)
Registrant's telephone number including area code (212) 530-6600
Item 5. Other Events
The Registrant announced today that two of its four
directors, Zaid O.B. Pedersen and Jan E.G. Bruneheim, resigned, effective
January 15, 1998, from its Board of Directors in order to comply with a
temporary exemption granted by the Board of Governors of the Federal
Reserve System under the U.S. Bank Holding Company Act (the "BHCA") to
permit the Swedish bank Skandinaviska Enskilda Banken ("S.E. Banken") to
acquire the Swedish insurance company Trygg-Hansa A.B. ("Trygg-Hansa").
The resignations of Messrs. Pedersen and Bruneheim were required to
enable S.E. Banken to comply with Regulation K under the BHCA. Messrs.
Pedersen and Bruneheim are officers of Trygg-Hansa, the stockholders of
which are the beneficiaries of the Home Holdings Inc. Stock Trust, which,
in turn, is a principal stockholder of the Registrant.
In addition to resigning from the Registrant's Board of
Directors, Messrs. Pedersen and Bruneheim also resigned from the Boards
of Directors of several direct and indirect subsidiaries of the
Registrant, including The Home Insurance Company, a New Hampshire
domiciled property and casualty insurance company and the principal,
wholly-owned subsidiary of the Registrant. The remaining directors will
be meeting shortly to address the composition of the respective boards.
Mr. Pedersen is currently the President of Trygg-Hansa and
Mr. Bruneheim is currently the Senior Vice President, Marketing,
Investments and Life Products Division, of Trygg-Hansa.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
(99.1) Press release issued on January 21, 1998.
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.
HOME HOLDINGS INC.
Dated: January 21, 1998 By: /s/ Richard H. Hershman
------------------------
Richard H. Hershman
(Principal Financial and Accounting Officer
through the Services Agreement, dated June
12, 1995, between Risk Enterprise
Management Limited, a Delaware
corporation, and Home Insurance)
Exhibit 99.1
FROM: EDWARD G. NOVOTNY & ASSOCIATES, INC.
Two Tudor City Place
New York, New York 10017
Tel.: (212) 490-2065
FOR: HOME HOLDINGS INC. FOR IMMEDIATE RELEASE
59 Maiden Lane Wednesday, January 21, 1998
New York, New York 10038
HOME HOLDINGS INC. ANNOUNCES
RESIGNATION OF TWO DIRECTORS IN CONNECTION
WITH FEDERAL RESERVE EXEMPTION
NEW YORK -- Home Holdings Inc. announced today that two of its
four directors, Zaid O.B. Pedersen and Jan E.G. Bruneheim, resigned,
effective January 15, 1998, from its Board in order to comply with a
temporary exemption granted by the Board of Governors of the Federal
Reserve System under the U.S. Bank Holding Company Act to permit the
Swedish bank Skandinaviska Enskilda Banken ("S.E. Banken") to acquire the
Swedish insurance company Trygg-Hansa A.B. The resignations of Messrs.
Pedersen and Bruneheim were required to enable S.E. Banken to comply with
Regulation K under the Bank Holding Company Act. Messrs. Pedersen and
Bruneheim are officers of Trygg-Hansa, the stockholders of which are the
beneficiaries of the Home Holdings Inc. Stock Trust, which, in turn, is a
principal Home Holdings stockholder.
In addition to resigning from the Home Holdings Board, Messrs.
Pedersen and Bruneheim also resigned from the Boards of several Home
Holdings direct and indirect subsidiaries, including The Home Insurance
Company, a New Hampshire domiciled property and casualty insurance company
and the principal, wholly-owned subsidiary of Home Holdings. The remaining
directors will be meeting shortly to address the composition of the
respective boards.
Mr. Pedersen is currently the President of Trygg-Hansa and Mr.
Bruneheim is currently the Senior Vice President, Marketing, Investments
and Life Products Division, of Trygg-Hansa.
