<PAGE>
/------------------------------/
/ OMB APPROVAL /
/------------------------------/
/ OMB Number: 3235-0187 /
/ Expires: December 31, 2001 /
/ Estimated average burden /
/ hours per response...... 0.5 /
/------------------------------/
+--------+
| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ Washington, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
--------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
Brown's Dock, L.L.C.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
56 Prospect Street
--------------------------------------------------------------------------------
(Street)
Hartford Connecticut 06115
--------------------------------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol Southwestern Life Holdings, Inc.
-----------------------------------
3. I.R.S. Identification Number of Reporting Person, if an entity
(Voluntary)
--------------
4. Statement for Month/Year August, 2000
---------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
---------------------------------
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
___ Director ___ Officer _X_ 10% Owner ___ Other
(give title below) (specify below)
----------------------------------------------------------------
7. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__X__ Form filed by More than One Reporting Person
Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 6/15/00 P 8,000 A $15.06 3,071,695 D and I (1)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6/15/00 P 236,330 A $15.06 3,071,695 D and I (1)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6/21/00 P 28,402 A $12.56 3,071,695 D and I (1)
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see instruction
4(b)(v).
<PAGE>
FORM 4 (continued)
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security sion or action tion Code ative Securities
(Instr. 3) Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
---------------------------------------------------
Code V (A) (D)
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Securities ficial
(Instr. ficially Bene- Owner-
-------------------------------------------- 5) Owned ficially ship
Date Expira- Amount or at End Owned at (Instr.
Exer- tion Title Number of of End of 4)
cisable Date Shares Month Month(1)
(Instr. 4) (Instr. 4)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(1) Brown's Dock, L.L.C. beneficially owns 530,257 shares of Common Stock
directly; the Reporting Persons constitute a "group" for purposes of Section
13(d)(3) of the Act, and therefore, each Reporting Person is deemed to have
beneficial ownership of 3,071,695 shares of Common Stock.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
/s/ James L. Learner, P.C.
------------------------------- -----------------
**Signature of Reporting Person Date
James L. Learner, P.C. pursuant to a Power of Attorney filed with the Commission
Attachment to Form 4
--------------------
Pursuant to Instruction 4(b)(v) of the General Instructions to Form 4,
this Form 4 is also being filed on behalf of the reporting Persons set forth
below. All of the information set forth in the attached Form 4 for Brown's Dock,
L.L.C. is the same for the Reporting Persons set forth below unless otherwise
noted.
Designated Filer: Brown's Dock, L.L.C.
Statement Month/Year: 8/2000
Issuer: Southwestern Life Holdings, Inc.
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
Amount of Nature of
Securities Indirect
Beneficially Ownership Form: Beneficial
Name and Address of Reporting Person Title of Security Owned Direct (D) or Indirect (I) Ownership
----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Inverness/Phoenix Partners LP (A) Common Stock 2,450,293 D
----------------------------------------------------------------------------------------------------------------------------
Inverness/Phoenix Partners LP Common Stock 621,402 I (1)
----------------------------------------------------------------------------------------------------------------------------
Executive Capital Partners I LP (A) Common Stock 83,145 D
----------------------------------------------------------------------------------------------------------------------------
Executive Capital Partners I LP Common Stock 2,988,550 I (1)
----------------------------------------------------------------------------------------------------------------------------
Phoenix Home Life Mutual Insurance Company (B) Common Stock 3,071,695 I (2)
----------------------------------------------------------------------------------------------------------------------------
Phoenix Investment Partners, Ltd. (C) Common Stock 3,071,695 I (3)
----------------------------------------------------------------------------------------------------------------------------
Inverness Phoenix Capital LLC (A) Common Stock 8,000 D
----------------------------------------------------------------------------------------------------------------------------
Inverness Phoenix Capital LLC Common Stock 3,063,695 I (4)
----------------------------------------------------------------------------------------------------------------------------
Inverness Management Fund I LLC (A) Common Stock 3,071,695 I (5)
----------------------------------------------------------------------------------------------------------------------------
WMD LLC (A) Common Stock 3,071,695 I (6)
----------------------------------------------------------------------------------------------------------------------------
J.C. Comis LLC (A) Common Stock 3,071,695 I (7)
----------------------------------------------------------------------------------------------------------------------------
W. McComb Dunwoody (A) Common Stock 3,071,695 I (8)
----------------------------------------------------------------------------------------------------------------------------
James C. Comis, III (A) Common Stock 3,107,695 I (9)
----------------------------------------------------------------------------------------------------------------------------
DCPM Holdings, Inc. (C) Common Stock 3,071,695 I (10)
----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 5
(A) 660 Steamboat Road, Greenwich, Connecticut 06830
(B) 1 American Row, Hartford, Connecticut, 06115
(C) 56 Prospect, Hartford, Connecticut 06115.
(32) Phoenix Home Life Mutual Insurance Company ("Phoenix") is a member of
Brown's Dock, L.L.C. ("Brown's Dock").
(3) Phoenix Investment Partners, Ltd. is a member of Brown's Dock.
(4) Inverness/Phoenix Capital LLC (the "General Partner") is the general partner
of Inverness/Phoenix Partner LP, Executive Capital Partners I LP.
(5) Inverness Management Fund I ("Inverness") is a member of Brown's Dock and a
member of the General Partner.
(6) WMD LLC ("WMD") is a controlling member of Inverness.
(7) J.C. Comis LLC ("JCC") is a controlling member of Inverness
(8) W. McComb Dunwoody is a controlling member of WMD.
(9) James C. Comis, III is a controlling member of JCC and a director of the
Issuer.
(10) DCPM Holdings, Inc. is a member of the General Partner.
Page 4 of 5
Signature of Reporting Persons:
BROWN'S DOCK, L.L.C.
INVERNESS/PHOENIX PARTNERS LP
EXECUTIVE CAPITAL PARTNERS I LP
INVERNESS/PHOENIX CAPITAL LLC
DCPM HOLDINGS, INC.
PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY
PHOENIX INVESTMENT PARTNERS, LTD.
INVERNESS MANAGEMENT FUND I LLC
WMD LLC
J.C. COMIS LLC
W. McComb Dunwoody
James C. Comis III
By: /s/ James L. Learner, P.C.
__________________________
Name: James L. Learner, P.C.
Title: Attorney-in-Fact
(Pursuant to a Power of Attorney filed
with the Commission)
Page 5 of 5
