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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 30, 2002
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Commission File Number 0-5544
OHIO CASUALTY CORPORATION
(Exact name of registrant as specified in its charter)
OHIO
(State or other jurisdiction of incorporation or organization)
31-0783294
(I.R.S. Employer Identification No.)
9450 Seward Road, Fairfield, Ohio
(Address of principal executive offices)
45014
(Zip Code)
(513) 603-2400
(Registrant's telephone number)
Not Applicable
(Former name or former address, if changed since last report)
Exhibit Index - Page 4
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ITEM 5. Other Events
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On July 30, 2002, Ohio Casualty Corporation announced second quarter 2002
results.
A copy of the press release issued by Ohio Casualty Corporation on July 30,
2002, is attached hereto as Exhibit 99 and is incorporated herein by
reference.
On August 1, 2002, Ohio Casualty Corporation issued a press release reporting
historical catastrophe earnings per share impacts on an after-tax basis.
A copy of the press release issued by Ohio Casualty Corporation on August 1,
2002, is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
The Corporation has updated its projected 2002 net income to be approximately
$86 million which was previously projected to be approximately $120 million.
The projected 2002 net income number has been updated to reflect an expected
reduction in realized investment gains during the second half of 2002 from
amounts previously forecasted because of the Corporation's progress to date in
implementing its investment strategy of reducing its equity portfolio to
achieve a 50% ratio of equity securities to statutory surplus and recent
declines in the equities markets.
Forward-looking Statements
Certain of the statements contained in this Form 8-K, including the Statutory
Property and Casualty Projected Results for the Years 2002-2003 and all other
financial forecasts and projections, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act. Forward-looking
statements are typically identified herein by words or phrases such as
"expect," "project," "forecast," "plan," "goal," and similar expressions or
future or conditional verbs such as "will," "should," and "would". Future
premium levels, loss experience, operating expenses and profits are all
influenced by a number of factors, including those identified below, all of
which are inherently difficult to forecast. Consequently, actual results may
differ materially from those included in the forward-looking statements.
Among the factors that could cause actual results to differ materially from
the forward-looking statements in this Form 8-K are the following:
General Industry Factors
- - Pricing environment for the Corporation's insurance products and general
competition
- - Changes in governmental regulation
- - Acts of war and terrorist activities
- - Fluctuations in interest rates and performance of the financial markets
- - General economic and market conditions
Corporation-Specific Factors
- - Ability of the Corporation to successfully execute its Corporate Strategic
Plan
- - Ability of the Corporation to refinance its existing bank debt
- - Ability of the Corporation to achieve and maintain planned price increases
for its insurance products
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- - Ability of the Corporation to achieve and maintain planned expense savings
- - Ability of the Corporation to retain key employees and agents having the
experience and skills necessary to execute the Corporation's Strategic Plan
- - Ability of the Corporation to attain planned benefits from technology
initiatives
- - Ability of the Corporation to maintain sufficient financial strength
ratings
- - Adequacy of the Corporation's property and casualty reserves
- - Catastrophe losses and other adverse claims experience
- - Availability and pricing of reinsurance
- - Litigation and administrative proceedings
Other factors that could cause actual results to differ include those matters
set forth in the Corporation's Annual Report on Form 10-K for the fiscal year
ended December 31, 2001. The Corporation disclaims any obligation or
intention to publicly update or revise any of the forward-looking statements
contained in this Form 8-K, whether as a result of new information, future
events or otherwise.
ITEM 7. Financial Statements and Exhibits
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Exhibit No. Description
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99 Press release dated July 30, 2002, announcing second quarter
2002 results.
99.1 Press release dated August 1, 2002 reporting historical
catastrophe earnings per share on an after-tax basis.
SIGNATURE
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.
OHIO CASUALTY CORPORATION
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(Registrant)
August 1, 2002 /s/ Dennis E. McDaniel
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Dennis E. McDaniel, Vice President
and Controller
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EXHIBIT INDEX
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Current Report on Form 8-K
Dated July 30, 2002
Exhibit No. Description
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99 Press release dated July 30, 2002, announcing second
quarter results.
99.1 Press release dated July 31, 2002 reporting historical
catastrophe earnings per share on an after-tax basis
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