UNITED STATES
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): July 31, 1998
ALLMERICA FINANCIAL CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-13754 04-3263626
(State or other jurisdic- (Commission File Number) (I.R.S. Employer I.D.
tion of Incorporation) Number)
440 Lincoln Street, Worcester, Massachusetts 01653
(Address of Principal Executive Offices)
(Zip Code)
(508) 855-1000
(Registrant's Telephone Number including area code)
Page 1 of 5 pages
Exhibit Index on page 4
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Item 5. Other Events.
On July 31, 1998, Allmerica Financial Corporation announced that third
quarter results will be impacted by an estimated $6.8 million in pre-tax
catastrophe losses as a result of electrical, rain and wind storms that struck
the Detroit, Michigan metropolitan area on July 22, 1998. A copy of the press
release is attached as Exhibit 99 and is incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
Exhibit 99 Press Release dated July 31, 1998, announcing Allmerica
Financial Corporation expects $6.8 million charge in third
quarter for July catastrophe losses.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ALLMERICA FINANCIAL
CORPORATION
By: /s/ Edward J. Parry III
Edward J. Parry III
Vice President, Chief
Financial Officer, and
Treasurer
Date: July 31, 1998
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Exhibit Index
Exhibit 99 Press Release dated July 31 1998, announcing Allmerica
Financial Corporation expects $6.8 million charge in third
quarter for July catastrophe losses.
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EXHIBIT 99
CITIZENS CORPORATION, ALLMERICA FINANCIAL
EXPECT THIRD QUARTER STORM CHARGES
WORCESTER, Mass., July 31, 1998 - Citizens Corporation (NYSE: CZC) announced
today that it expects to incur approximately $6.8 million in pretax
Catastrophe losses in the third quarter as a result of electrical, rain and
wind storms that struck the metropolitan Detroit, Michigan and Northern
Illinois areas on July 22. Allmerica Financial Corporation (NYSE: AFC),
which owns 82 percent of Citizens, expects to incur $5.6 million in pretax
catastrophe losses from the event.
This expected charge at Citizens compares to $9.1 million of catastrophe
losses reported in the third quarter of 1997, during which Citizens also
incurred unusually high storm-related losses.
Citizens Corporation is the holding company for Citizens Insurance Company of
America, a leading underwriter of personal and commercial property and
casualty insurance in the Midwest. Citizens is a subsidiary of Allmerica
Financial Corporation (NYSE: AFC), the holding company for a diversified
group of insurance and financial services companies based in Worcester, Mass.
-30-
AF - 28
7/31/98
Contacts: Investors: Media:
Jean Peters Mike Buckley
(508)855-3599 (508)855-3099
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