INTEGON CORP /DE/
SC 13G, 1997-02-14
FIRE, MARINE & CASUALTY INSURANCE
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<PAGE>
 
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                 SCHEDULE 13G
                   Under the Securities Exchange Act of 1934
                                Amendment No. 4


                              Integon Corporation
         -------------------------------------------------------------
                               (Name of Issuer)



                         Common Stock, $.01 par value
   -------------------------------------------------------------------------
                        (Title of Class of Securities)



                                   45810F101
               ------------------------------------------------
                                (CUSIP Number)

                               Page 1 of 7 Pages
<PAGE>
 
- ---------------
CUSIP NO.
45810F101
- ---------------
- --------------------------------------------------------------------------------
1.   Name of Reporting Person
     S.S. or I.R.S. Identification No. of Above Person

     Goldman, Sachs & Co.

- --------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group

                                                   (a) _____
                                                   (b) _____

- --------------------------------------------------------------------------------
3.   SEC Use Only


- --------------------------------------------------------------------------------
4.   Citizenship or place of  Organization
 
                  New York
- -------------------------------------------------------------------------
Number of         5.    Sole Voting Power
Shares
Beneficially               0
Owned By          ----------------------------------------
Each              6.    Shared Voting Power
Reporting
Person With                861,560
                  --------------------------------------
                  7.    Sole Dispositive Power

                           0
                  ----------------------------------------
                  8.    Shared Dispositive Power

                           861,560
                  --------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

       944,130
- --------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares


- --------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

       6.0%
- --------------------------------------------------------------------------------
12.  Type of Reporting Person

        BD-PN-IA
- --------------------------------------------------------------------------------

                               Page 2 of 7 Pages
<PAGE>
 
- ---------------
CUSIP NO.
45810F101
- ---------------
- --------------------------------------------------------------------------------
1.   Name of Reporting Person
     S.S. or I.R.S. Identification No. of Above Person

     The Goldman Sachs Group, L.P.

- --------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group

                                                    (a) _____
                                                    (b) _____

- --------------------------------------------------------------------------------
3.   SEC Use Only


- --------------------------------------------------------------------------------
4.   Citizenship or place of Organization
 
         Delaware
- --------------------------------------------------------------------------------
Number of           5.   Sole Voting Power
Shares
Beneficially                0
Owned By            --------------------------------------
Each                6.   Shared Voting Power
Reporting
Person With                 861,560
                    ----------------------------------
                    7.   Sole Dispositive Power

                            0
                    --------------------------------------
                    8.   Shared Dispositive Power

                            861,560
                    ----------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

       944,130
- --------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares


- --------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

       6.0%
- --------------------------------------------------------------------------------
12.  Type of Reporting Person

        HC-PN
- --------------------------------------------------------------------------------

                               Page 3 of 7 Pages
<PAGE>
 
       Item 1(a).   Name of Issuer:
                    Integon Corporation

       Item 1(b).   Address of Issuer's Principal Executive Offices:
                    500 West Fifth Street
                    Winston-Salem, NC  27152

       Item 2(a).   Name of Persons Filing:
                    Goldman, Sachs & Co. and The Goldman Sachs Group, L.P.
 
       Item 2(b).   Address of Principal Business Office or, if None, Residence:
                    85 Broad Street
                    New York, NY   10004

       Item 2(c).   Citizenship:
                    Goldman, Sachs & Co. - New York
                    The Goldman Sachs Group, L.P. - Delaware
 
       Item 2(d).   Title and Class of Securities:
                    Common Stock, $.01 par value

       Item 2(e).   CUSIP Number:
                    45810F101

       Item 3.      If this statement is filed pursuant to Rules 13d-1(b), or
                    13d-2(b), check whether the person filing is a :

              (a).X Broker or dealer registered under Section 15 of the Act,
                             Goldman, Sachs & Co.

              (b).  Bank as defined in Section 3(a)(6) of the Act,

              (c).  Insurance Company as defined in Section 3(a)(19) of the Act,

              (d).  Investment Company registered under Section 8 of the
                    Investment Company Act,

              (e).X Investment Adviser registered under Section 203 of the
                    Investment Advisers Act of 1940,
                             Goldman, Sachs & Co.

              (f).  Employee Benefit Plan, Pension Fund which is subject to the
                    provisions of the Employee Retirement Income Security Act of
                    1974 or Endowment Fund; see 13d-1(b)(1)(ii)(F),

                               Page 4 of 7 Pages
<PAGE>
 
              (g).X Parent Holding Company, in accordance with 
                    Rule 13d-1(b)(ii)(G); see Item 7,
                            The Goldman Sachs Group, L.P.
 
              (h).  Group, in accordance with Rule 13d-1(b)(ii)(H).


       Item 4.      Ownership.

              (a).  Amount beneficially owned:
                    See the responses(s) to Item 9 on the attached cover 
                    page(s).

              (b).  Percent of class:
                    See the response(s) to Item 11 on the attached cover
                    page(s).

              (c).  Number of shares as to which such person has:

                    (i).    Sole power to vote or to direct the vote:
                                   See the response(s) to Item 5 on the attached
                                   cover page(s).

                    (ii).   Shared power to vote or direct the vote:
                                   See the response(s) to Item 6 on the attached
                                   cover page(s).

                    (iii).  Sole power to dispose or to direct the disposition
                            of:
                                   See the response(s) to Item 7 on the attached
                                   cover page(s).

                    (iv).   Shared power to dispose or to direct the disposition
                            of:
                                   See the response(s) to Item 8 on the attached
                                   cover page(s).

       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.
                            Goldman, Sachs & Co. is a broker or dealer
                            registered under Section 15 of the Act and an
                            investment advisor registered under Section 203 of
                            the Investment Advisors Act of 1940.

       Item 8.      Identification and Classification of Members of the Group.
                            Not Applicable

                               Page 5 of 7 Pages
<PAGE>
 
       Item 9.      Notice of Dissolution of Group.
                            Not Applicable

       Item 10.     Certification.

                    By signing below I certify that, to the best of my knowledge
                    and belief, the securities referred to above were acquired
                    in the ordinary course of business and were not acquired for
                    the purpose of and do not have the effect of changing or
                    influencing the control of the issuer of such securities and
                    were not acquired in connection with or as a participant in
                    any transaction having such purpose or effect.

                               Page 6 of 7 Pages
<PAGE>
 
                                   SIGNATURE

          After reasonable inquiry and to the best of my knowledge and belief, I
          certify that the information set forth in this statement is true,
          complete and correct.


Date:  February 14, 1997


                                    THE GOLDMAN SACHS GROUP, L.P.
                                    By: The Goldman Sachs Corporation,
                                       its general partner


                                    By: /s/ David B. Ford
                                       -----------------------------------------
                                    Name:  David B. Ford
                                    Title: Executive Vice President



                                    GOLDMAN, SACHS & CO.


                                    By: /s/ David B. Ford
                                       -----------------------------------------
                                    Name:  David B. Ford
                                    Title: Managing Director

                               Page 7 of 7 Pages


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