-----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,
 FwoxKL4lMv0HU5yfYy2XxoKu0vwslYRP18Z5YB7XiTtsWGEsH2Do9il8FM8QR82z
 M6bxpV1OHnI81bH82x1/Jw==

<SEC-DOCUMENT>0001209191-04-001809.txt : 20040107
<SEC-HEADER>0001209191-04-001809.hdr.sgml : 20040107
<ACCEPTANCE-DATETIME>20040107101753
ACCESSION NUMBER:		0001209191-04-001809
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040101
FILED AS OF DATE:		20040107

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RITCHIE JAMES JOSEPH
		CENTRAL INDEX KEY:			0001181389
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08483
		FILM NUMBER:		04511978

	BUSINESS ADDRESS:	
		STREET 1:		C/O WHITE MOUNTAINS INSURANCE GROUP, LTD
		STREET 2:		80 SOUTH MAIN STREET
		CITY:			HANOVER
		STATE:			NH
		ZIP:			03755
		BUSINESS PHONE:		603 640 2200

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CERES GROUP INC
		CENTRAL INDEX KEY:			0000215403
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				341017531
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		17800 ROYALTON RD
		CITY:			STRONGSVILLE
		STATE:			OH
		ZIP:			44136
		BUSINESS PHONE:		2165722400

	MAIL ADDRESS:	
		STREET 1:		17800 ROYALTON RD
		CITY:			STRONGSVILLE
		STATE:			OH
		ZIP:			44136

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTRAL RESERVE LIFE CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bcl04931_bcl1jjr.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2004-01-01</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000215403</issuerCik><issuerName>CERES GROUP INC</issuerName>        <issuerTradingSymbol>CERG</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001181389</rptOwnerCik><rptOwnerName>RITCHIE JAMES JOSEPH</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1></rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>STRONGSVILLE</rptOwnerCity><rptOwnerState>OH</rptOwnerState><rptOwnerZipCode>44136</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>non-qual
ified stock options</value></securityTitle><conversionOrExercisePrice><value>5.91</value></conversionOrExercisePrice><transactionDate><value>2004-01-01</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>1481</value></transactionShares><transactionPricePerShare><value>5.91</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-01-01</value></exerciseDate><expirationDate><value>2014-01-01</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>common stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1481</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>11481</value></sharesOwnedFollowingTransaction></postTransaction
Amounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><ownerSignature><signatureName>/s/ Kathleen L. Mesel as attorney-in-fact for James J. Ritchie</signatureName><signatureDate>2004-01-06</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----