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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
Exstar Financial Corporation
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(Name of Issuer)
Common stock
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(Title of Class of Securities)
302229-10-9
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 7 pages
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Cusip No. 302229 10 9 13G Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON
Peter J. O'Shaughnessy
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
3,027,925
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 3,027,925
WITH ---------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,027,925
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
60.6%
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12. TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 7 pages
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Cusip No. 302229-10-9 13G Page 3 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION OF ABOVE PERSON
TCO Insurance Services, Inc.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
-0-
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NUMBER OF 6. SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH ---------------------------------------------------------
8. SHARED DISPOSITIVE POWER
-0-
---------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
-0-
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12. TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
Page 3 of 7 pages
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ITEM 1.(a) NAME OF ISSUER:
Exstar Financial Corporation
ITEM 1.(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
P.O. Box 678
2029 Village Lane
Solvang, CA 93464
ITEM 2.(a) NAME OF PERSON FILING:
Peter J. O'Shaughnessy and TCO Insurance Services, Inc.
ITEM 2.(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
P.O. Box 678
2029 Village Lane
Solvang, CA 93464
ITEM 2.(c) CITIZENSHIP:
United States
ITEM 2.(d) TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.01 per share
ITEM 2.(e) CUSIP NUMBER
302229-10-9
ITEM 3. TYPE OF PERSON:
Not Applicable
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ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned:
3,027,925
(b) Percent of Class:
60.6%
(c) Number of shares as to which person has:
(i) sole power to vote or to direct the vote: 3,027,925 shares
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition of:
3,027,925 shares
(iv) shared power to dispose or to direct the disposition of: -0-
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Includes 2,819,625 shares owned by Peter J. O'Shaughnessy, 174,800 shares owned
by the Peter J. O'Shaughnessy IRA Rollover Account and 33,500 incentive stock
options which are currently excercisable. The 536,000 shares previously owned
by TCO Insurance Services, Inc. were sold to Exstar Financial Corporation as of
April 1, 1997. This Schedule 13G is filed on behalf of the persons named in
Item 2(a) hereof because such persons may be deemed to be a group.
Notwithstanding any such characterization, each such person disclaims
beneficial ownership of the Securities owned by all other persons named in this
Schedule 13G.
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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:
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF A GROUP:
Not Applicable
ITEM 10. CERTIFICATION:
Not Applicable
Page 6 of 7
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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 10, 1998
/s/ Steven C. Shinn
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Peter J. O'Shaughnessy
By Steven C. Shinn, Attorney-in-fact
TCO Insurance Services, Inc.
By: /s/ Steven C. Shinn
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President
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