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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 11, 1998
FPIC INSURANCE GROUP, INC.
(Exact name of registrant as specified in its charter)
Florida 1-11983 59-3359111
(State or other jurisdiction o (Commission File (I.R.S. Employer
incorporation or organizatio Number) Identification No.)
1000 Riverside Avenue, Suite 800, Jacksonville, Florida 32204
(Address of principal executive offices)
Registrant's telephone number, including area code: (904) 354-5910
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Exhibit Index is located at Page 3
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Item 5. Other Events
On July 11, 1998, the Board of Directors of FPIC Insurance Group, Inc.
(the "Company") authorized the repurchase by the Company of up to 500,000 shares
of the Company's common stock over the next twelve months. Shares will be
repurchased on the open market at the discretion of the Company's management.
The Company's press release, which further describes the Company's
repurchase program, is attached hereto as an exhibit and is incorporated by
reference hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial statements of business acquired: Not applicable.
(b) Pro forma financial information: Not applicable.
(c) Exhibits:
(99.) FPIC Insurance Group, Inc. Press Release dated July 13, 1998.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
FPIC Insurance Group, Inc.
Date: July 14, 1998 By: __/s/_Robert B. Finch____
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Robert B. Finch
Senior Vice President,
Chief Financial Officer
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Exhibit Index is located at Page 3
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EXHIBIT INDEX
Exhibit Number
(99.) FPIC Insurance Group, Inc.'s Press Release dated July 13, 1998.
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Exhibit Index is located at Page 3
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Exhibit 99
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PRN FPIC INSURANCE GROUP, INC. ANNOUNCES STOCK BUYBACK
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July 13, 1998 11:45
JACKSONVILLE, Fla., July 13, 1998/PRNewswire/ -- FPIC Insurance Group,
Inc., (Nasdaq: FPIC) ("FPIC") announced that its Board of Directors authorized
the Company to repurchase up to 500,000 shares of its common stock on the open
market. The share repurchase may commence immediately and continue for a period
of twelve months. Shares will be repurchased on the open market at the
discretion of management.
"In spite of the success our stock has enjoyed since the public
offering, we still consider FPIC an excellent long-term investment," said
William R. Russell, President and Chief Executive Officer of FPIC. He also
added: "This share repurchase is another example of our commitment to implement
strategies that will enhance shareholder value."
FPIC Insurance Group, Inc., through it subsidiary companies, is a
leading provider of professional liability insurance for physicians, dentists,
hospitals and other healthcare entities, primarily in Florida. In addition,
it provides third-party administration services to entities outside the
healthcare marketplace. Its insurance subsidiary, Florida Physicians Insurance
Company, Inc. is rated A-(Excellent) by A.M. Best.
Copies of the Company's Form 10-Q will be made available upon request
after the report is filed with the Securities and Exchange Commission.
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Exhibit Index is located at Page 3