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 17, 2003

                               GORAN CAPITAL INC.
             (Exact name of registrant as specified in its charter)


Canada                       000-24366             Not  Applicable
(State  or  other            (Commission           (IRS  Employer
jurisdiction  of             File  Number)         Identification  No.)
incorporation)



                4720 Kingsway Drive, Indianapolis, Indiana 46205
                    (Address of principal executive offices)


       Registrant's telephone number, including area code: (317) 259-6400

                                  Not Applicable
          (Former name or former address, if changed since last report)



Item  3.       Receivership
               ------------

Symons  International  Group,  Inc. (SIG), the 73.8% - owned subsidiary of Goran
Capital  Inc.,  announced on September 17, 2003 that Superior Insurance Company,
the Florida domiciled insurance company subsidiary of SIG, consented to an Order
of  Rehabilitation  of  Superior  Insurance  Company.  Under the August 29, 2003
order  entered  by  the  Circuit Court of the Second Judicial Circuit in and for
Leon  County,  Florida  the  Florida  Department  of  Financial  Services  (the
"Department")  will  act  as  Rehabilitator  of  the  Company.  The  consent  to
rehabilitation  was  not  based on the financial impairment or insolvency of the
company. The Order provides 60 days' notice to Superior Insurance Group, Inc. of
termination  of  the management agreement between Superior Insurance Company and
Superior  Insurance  Group,  Inc.  The  Department  has  stated  its desire that
Superior  Insurance  Company continue to write new and renewal business while in
rehabilitation.  The  rehabilitation should not affect the handling of claims or
policy  processing.  Management  believes  the  rehabilitation  presents  an
opportunity  to  continue  the  work  of  the  past  14  months  to  improve the
performance  of  the  company  and  to  position  it  for  a  brighter  future.




                                   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  hereunto  duly  authorized.



Dated:  September  17,  2003                  GORAN  CAPITAL  INC.

                                              By:  s/  Douglas  H.  Symons
                                                   -----------------------
                                      President  and  Chief  Executive  Officer