-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RDVRQa+aljVhbvWtBGcY6DFun0lEkRjPCPuPrTfq8Q0Su1LBCN+B1U0lqVtNOZnN zKrobhjm2hRCvjMD2qysZA== 0000912057-02-035687.txt : 20020917 0000912057-02-035687.hdr.sgml : 20020917 20020916204441 ACCESSION NUMBER: 0000912057-02-035687 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020916 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEIBELS BRUCE GROUP INC CENTRAL INDEX KEY: 0000276380 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 570672136 STATE OF INCORPORATION: SC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-08804 FILM NUMBER: 02765388 BUSINESS ADDRESS: STREET 1: 1501 LADY ST STREET 2: P O BOX 1 CITY: COLUMBIA STATE: SC ZIP: 29201 BUSINESS PHONE: 8037482000 MAIL ADDRESS: STREET 1: 1501 LADY ST STREET 2: P O BOX 1 CITY: COLUMBIA STATE: SC ZIP: 29201 8-K 1 a2089452z8-k.htm 8-K
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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): September 16, 2002

THE SEIBELS BRUCE GROUP, INC.
(Exact name of registrant as specified in its charter)

South Carolina
(State or other jurisdiction
of incorporation)		   0-8804
(Commission File Number)		   57-0672136
(IRS Employer
Identification Number)
1501 Lady Street
(Post Office Box 1)
Columbia, South Carolina
(Address of principal executive offices)		       29201
(Zip Code)

Registrant's telephone number, including area code (803) 748-2000

Not applicable
(Former Name or Former Address, if Changed Since Last Report)


ITEM 5. OTHER EVENTS

        On September 16, 2002, The Seibels Bruce Group, Inc. (the "Company") issued a press release announcing that it received notification from Demotech, Inc. that the Financial Stability Rating® for Consolidated American Insurance Company and South Carolina Insurance Company had been suspended. A copy of the Company's press release is attached to this Current Report on Form 8-K as Exhibit 99.


ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

    (a)
    Not applicable.

    (b)
    Not applicable.

    (c)
    Exhibits.

            The following exhibit is filed herewith and made a part hereof.

Exhibit No.
    
   Description
99   —   Press Release dated September 16, 2002

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

    THE SEIBELS BRUCE GROUP, INC.

Date: September 16, 2002
 
By:
 
/s/  MATTHEW P. MCCLURE        
Matthew P. McClure
Corporate Secretary

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SIGNATURES
 EX-99 3 a2089452zex-99.htm EX-99
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EXHIBIT 99

Contact:    
Susan M. Kenney   direct phone: 803.748.2374
Vice President, Marketing and Sales   fax: 803.748.8420
    email: susan.kenney@seibels.com

FOR IMMEDIATE RELEASE

THE SEIBELS BRUCE GROUP, INC.
DISCLOSES CHANGE OF DEMOTECH RATINGS

        Columbia, South Carolina, 16 September 2002—The Seibels Bruce Group, Inc., (OTC Bulletin Board: SBIG) today announced that it received notification from Demotech, Inc. that the Financial Stability Rating® for Consolidated American Insurance Company (CAIC) and South Carolina Insurance Company (SCIC) has been suspended.

        This change reflects the fact that the South Carolina Department of Insurance (SCDOI) placed the companies into administrative supervision. Demotech's policy is to suspend Financial Stability Ratings® whenever a company they review is placed under any type of supervision, including administrative supervision. Prior to the SCDOI's Order, both CAIC and SCIC, as well as another subsidiary, held ratings of A, Exceptional. If the Order is lifted, these suspended ratings will be reconsidered.

        Additional information about Seibels Bruce can be found online at www.seibels.com.

        Certain items in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and as such involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Seibels Bruce or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks include, but are not limited to, the impact of the outcome of pending litigation and administrative proceedings and other uncertainties described in the Company's Annual Report on Form 10-K for the year ended December 31, 2001. Such forward-looking statements speak only as of the date of this press release. Seibels Bruce expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Seibels Bruce's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.

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