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): November 24, 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)
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Exhibit Index on page 4
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Item 5. Other Events.
On November 24, 1998, Allmerica Financial Corporation announced that fourth
quarter results will be negatively impacted by an estimated $11 million in
pre-tax catastrophe losses as a result of a sustained wind storm that struck
Michigan during early November. 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 November 24, 1998, announcing Allmerica
Financial Corporation expects an $11 million charge in the
fourth quarter of 1998 for November 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: November 25, 1998
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Exhibit Index
Exhibit 99 Press Release dated November 24, 1998, announcing Allmerica
Financial Corporation expects an $11 million charge in the
fourth quarter of 1998 for November catastrophe losses.
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EXHIBIT 99
CITIZENS CORPORATION, ALLMERICA FINANCIAL
EXPECT FOURTH QUARTER WINDSTORM CHARGES
WORCESTER, Mass., November 24, 1998 - Citizens Corporation (NYSE: CZC)
announced today that it expects to incur approximately $11million in pretax
catastrophe losses in the fourth quarter as a result of a sustained windstorm
that struck Michigan November 9 to11. Allmerica Financial Corporation (NYSE:
AFC), which owns 83 percent of Citizens, expects to incur $9 million of the
$11 million in pretax catastrophe losses from the event.
The expected charges compare to catastrophe losses of $0.1 million at Citizens
and $0.6 million at Allmerica during the fourth quarter of last year.
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, the holding company for a diversified group of
insurance and financial services companies based in Worcester, Mass.
AF-40
11/24/1998
Contacts: Investors: Media:
Jean Peters Mike Buckley
(508) 855-3599 (508) 855-3099
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