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): June 11, 2001 (June 6, 2001) 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) 259-6300 Not Applicable (Former name or former address, if changed since last report) Item 2. Disposition of Assets. On June 6, 2001, Symons International Group, Inc. ("SIG"), an approximately 73% owned subsidiary of Goran Capital Inc. (the "Company"), completed the sale of substantially all of the crop insurance assets of SIG's wholly owned subsidiary, IGF Insurance Company ("IGF"), to Acceptance Insurance Companies Inc. IGF and its affiliates received approximately $27.4 million at closing. Acceptance assumed all of the crop insurance in-force policies of IGF for the 2001 crop year. An additional $9.0 million in reinsurance premium is payable to the Company's wholly owned subsidiary, Granite Reinsurance Company Ltd. ("Granite Re"), under a multi year reinsurance treaty whereby Granite Re has agreed to reinsure a portion of the crop insurance business of Acceptance. 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: June 11, 2001 GORAN CAPITAL INC. By: /s/ Douglas H. Symons -------------------------------------- Douglas H. Symons, Senior Executive Vice President