SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information to Be Included in Statements Filed
Pursuant to Rules 13d-1 (b) (c) , and (d) and
amendments thereto filed pursuant to Rule 13d-2(b)
(Amendment No. )*
American Bankers Insurance Group, Inc.
_______________________________________
NAME OF ISSUER:
Common Stock (Par Value $1.00)
_______________________________________
TITLE OF CLASS OF SECURITIES
024456105
_______________________________________
CUSIP NUMBER
March 9, 1998
_______________________________________________
Date of Event Which Requires Filing this Statement
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
(X) Rule 13d-1c
*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 (the 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).
(Continued on following page(s))
Page 1 of 10 Pages
CUSIP No. 024456105 Page 2 of 10 Pages
1.NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bankers Trust New York Corporation; its wholly-owned
subsidiary Bankers Trust Company; its wholly-owned
subsidiary BT Holdings (New York), Inc.; and its
indirect wholly-owned subsidiary BT Alex.Brown
Incorporated (BT Alex.Brown).
13-6180473
2.CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(A) [ ]
(B) [ ]
3.SEC USE ONLY
4.CITIZENSHIP OR PLACE OF ORGANIZATION
Bankers Trust New York Corporation, BT Holdings (New York),
Inc. and Bankers Trust Company are New York Corporations.
BT Alex.Brown is a Delaware Corporation.
NUMBER OF 5. SOLE VOTING POWER
SHARES Bankers Trust New York
Corporation 1,367,800 shares
Bankers Trust Company 160,100 shares
BT Holdings (New York), Inc. 35,000 shares
BT Alex.Brown 217,500 shares
1,780,400
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY Bankers Trust New York
Corporation 0 shares
Bankers Trust Company 0 shares
BT Holdings (New York),Inc. 0 shares
BT Alex.Brown 0 shares
0
CUSIP No. 024456105 Page 3 of 10 Pages
EACH 7. SOLE DISPOSITIVE POWER
REPORTING Bankers Trust New York
Corporation 1,367,800 shares
Bankers Trust Company 502,700 shares
BT Holdings (New York), Inc. 35,000 shares
BT Alex.Brown 217,500 shares
2,123,000
PERSON 8. SHARED DISPOSITIVE POWER
WITH Bankers Trust New York
Corporation 0 shares
Bankers Trust Company 0 shares
BT Holdings (New York),Inc. 0 shares
BT Alex.Brown 0 shares
0
9.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
Bankers Trust New York
Corporation 1,367,800 shares
Bankers Trust Company 502,700 shares
BT Holdings (New York),Inc. 35,000 shares
BT Alex.Brown 217,500 shares
2,123,000
10.CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(9) EXCLUDES
CERTAIN SHARES *
[ ]
CUSIP No. 024456105 Page 4 of 10 Pages
11.PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Bankers Trust New York 3.29%
Corporation
Bankers Trust Company 1.21%
BT Holdings (New York),Inc. 0.09%
BT Alex.Brown 0.52%
5.11%
12.TYPE OF REPORTING PERSON *
Bankers Trust New York Corporation - HC
BT Holdings (New York),Inc. - CO
Bankers Trust Company - BK
BT Alex.Brown - BD
Item 1(a) NAME OF ISSUER:
American Bankers Insurance Group, Inc.
Item 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE
OFFICES:
11222 Quail Roost Drive
Miami, FL 33157
CUSIP No. 024456105 Page 5 of 10 Pages
Item 2(a) NAME OF PERSON FILING:
Bankers Trust New York Corporation; its
wholly-owned subsidiaries BT Holdings (New
York), Inc. and Bankers Trust Company;
and its indirect wholly-owned subsidiary
BT Alex.Brown
Item 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
For Bankers Trust New York Corporation, BT
Holdings (New York), Inc., Bankers Trust
Company, and BT Alex.Brown
130 Liberty Street
New York, New York 10006
Item 2(c) CITIZENSHIP:
Bankers Trust New York Corporation, BT
Holdings (New York), Inc. and Bankers Trust
Company are New York Corporations.
BT Alex.Brown is a Delaware Corporation.
Item 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock (Par Value $1.00) of American
Bankers Insurance Group, Inc.
Item 2(e) CUSIP NUMBER:
024456105
CUSIP No. 024456105 Page 6 of 10 Pages
Item 3 THE PERSON FILING IS A:
For Bankers Trust New York Corporation
(g) [X] Parent Holding Company, in accordance with
Section 240.13d-1(b)(ii)(G)
For Bankers Trust Company
(b) [X] Bank as defined in section 3(a)(6) of the
Act.
For BT Alex.Brown
(a) [X] Broker or dealer registered under Section
15 of the Act.
Item 4 OWNERSHIP:
(a) Amount Beneficially Owned:
Bankers Trust New York
Corporation 1,367,800 shares
Bankers Trust Company 502,700 shares
BT Holdings (New York), Inc. 35,000 shares
BT Alex.Brown 217,500 shares
2,123,000
CUSIP No. 024456105 Page 7 of 10 Pages
(b) PERCENT OF CLASS:
Bankers Trust New York 3.29%
Corporation
Bankers Trust Company 1.21%
BT Holdings (New York),Inc. 0.09%
BT Alex.Brown 0.52%
5.11%
(c) Number of shares as to which the following have:
(i) sole power to vote or to direct the
vote -
Bankers Trust New York
Corporation 1,367,800 shares
Bankers Trust Company 160,100 shares
BT Holdings (New York), Inc. 35,000 shares
BT Alex.Brown 217,500 shares
1,780,400
(ii) shared power to vote or to direct the
vote -
Bankers Trust New York
Corporation 0 shares
Bankers Trust Company 0 shares
BT Holdings (New York), Inc. 0 shares
BT Alex.Brown 0 shares
0
(iii) sole power to dispose or to direct the
disposition of -
Bankers Trust New York
Corporation 1,367,800 shares
Bankers Trust Company 502,700 shares
BT Holdings (New York), Inc. 35,000 shares
BT Alex.Brown 217,500 shares
2,123,000
CUSIP No. 024456105 Page 8 of 10 Pages
(iv) shared power to dispose or to direct the
disposition of -
Bankers Trust New York
Corporation 0 shares
Bankers Trust Company 0 shares
BT Holdings (New York), Inc. 0 shares
BT Alex.Brown 0 shares
0
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:
See Item 3 above and Exhibits to Item 7.
Item 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF
THE GROUP:
Not Applicable
Item 9 NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
CUSIP No. 024456105 Page 9 of 10 Pages
Item 10 CERTIFICATION:
By signing below I certify that, to the best of
my knowledge and belief, the securities
referred to above were not acquired and are not
held for the purpose of or with the effect of
changing or influencing the control of the
issuer of the securities and were not acquired
and are not held in connection with or as
a participant in any transaction having that
purpose or effect.
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: as of March 9, 1998
Signature: Bankers Trust New York Corporation
By: /s/James T. Byrne, Jr.
Name: James T. Byrne, Jr.
Title: Secretary
Signature: Bankers Trust Company
By: /s/James T. Byrne, Jr.
Name: James T. Byrne, Jr.
Title: Secretary
CUSIP No. 024456105 Page 10 of 10 Pages
Signature: BT Alex.Brown
By: /s/ James T. Byrne, Jr.
Name: James T. Byrne, Jr.
Title: Secretary
Signature: BT Holdings (New York), Inc.
By: /s/ Gordon S. Calder, Jr.
Name: Gordon S. Calder, Jr.
Title: Secretary
EXHIBIT TO ITEM 7
The chain of ownership from Bankers Trust New York
Corporation to Bankers Trust Company and BT Holdings (New
York), Inc. is shown below:
Bankers Trust New York Corporation
_________________________________________________________
| |
100% 100%
| |
Bankers Trust Company BT Holdings (New York), Inc.
EXHIBIT TO ITEM 7
The chain of ownership from Bankers Trust New York
Corporation to BT Alex. Brown is shown below:
Bankers Trust New York Corporation
|
|
100%
|
|
BT Alex. Brown Holdings Incorporated
|
|
100%
|
|
BT Alex. Brown Incorporated
