-----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, JredF3E7ZyULndaBQ9YTfRgbaqGK85rpGTCUES8WNOANLj136o5JX0q/aiKHkiLb SUhnnhp+cOozQOwPaxSURw== 0000950136-02-000371.txt : 20020414 0000950136-02-000371.hdr.sgml : 20020414 ACCESSION NUMBER: 0000950136-02-000371 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020213 GROUP MEMBERS: CONNING &COMPANY GROUP MEMBERS: CONNING CORPORATION GROUP MEMBERS: CONNING INSURANCE CAPITAL INTERNATIONAL PARTNERS III, L.P. GROUP MEMBERS: CONNING INSURANCE CAPITAL LIMITED PARTNERSHIP III, L.P. GROUP MEMBERS: CONNING INVESTMENT PARTNERS III, L.P. GROUP MEMBERS: CONNING, INC. GROUP MEMBERS: SWISS RE AMERICA HOLDING CORPORATION GROUP MEMBERS: SWISS REINSURANCE COMPANY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PAULA FINANCIAL CENTRAL INDEX KEY: 0000929031 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 954640368 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-52261 FILM NUMBER: 02542768 BUSINESS ADDRESS: STREET 1: 300 NORTH LAKE AVE CITY: PASADENA STATE: CA ZIP: 91101 BUSINESS PHONE: 6263040401 MAIL ADDRESS: STREET 1: 300 NORTH LAKE AVE CITY: PASADENA STATE: CA ZIP: 91101 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SWISS REINSURANCE CO CENTRAL INDEX KEY: 0000315043 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50/60 MYTHENQUAI STREET 2: CH-8022 CITY: ZURICH STATE: V8 ZIP: 00000 BUSINESS PHONE: 0114112852162 SC 13G/A 1 file001.txt AMENDMENT TO SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 --------------- SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* PAULA FINANCIAL (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 703588103 (CUSIP NUMBER) DECEMBER 31, 2001 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |_| Rule 13d-1(b) |_| Rule 13d-1(c) |X| Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 15
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 2 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Swiss Reinsurance Company - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 230,693 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 230,693 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 230,693 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, CO - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 3 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Swiss Re America Holding Corporation - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 230,693 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 230,693 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 230,693 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, CO - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 4 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Conning Corporation (IRS No. 43-1719355) - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Missouri - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 230,693 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 230,693 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 230,693 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, CO - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 5 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Conning, Inc. (IRS No. 06-1174587) - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 230,693 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 230,693 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 230,693 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, CO - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 6 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Conning & Company (IRS No. 06-1174588) - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 230,693 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 230,693 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 230,693 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, CO, IA - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 7 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Conning Investment Partners III, L.P. (IRS No. 06-1386819) - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 230,693 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 230,693 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 230,693 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC, PN - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 8 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Conning Insurance Capital Limited Partnership III, L.P. (IRS No. 06-1386843) - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 165,115 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 165,115 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 165,115 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.8% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - ----------------------------------------------------------------------------------------------------------------------
- ------------------------------- -------------------------------------- CUSIP No. 703588103 SCHEDULE 13G Page 9 of 15 - ------------------------------- -------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Conning Insurance Capital International Partners III, L.P. (IRS No. 06-0138117) - ---------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) |_| (b) |_| Not Applicable - ---------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------------------------------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - ---------------------------------------------------------------------------------------------------------------------- NUMBER OF SHARES BENEFICIALLY 5 SOLE VOTING POWER OWNED BY EACH REPORTING PERSON -0- WITH ---------------------------------------------------------------------------------- 6 SHARED VOTING POWER 35,901 ---------------------------------------------------------------------------------- 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------------------------------- 8 SHARED DISPOSITIVE POWER 35,901 - ---------------------------------------------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 35,901 - ---------------------------------------------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) |_| - ---------------------------------------------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.6% - ---------------------------------------------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - ----------------------------------------------------------------------------------------------------------------------
ITEM 1(a). NAME OF ISSUER: PAULA Financial (the "Issuer"). ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 300 North Lake Avenue, Suite 300 Pasadena, CA 91101 ITEM 2(a). NAME OF PERSON(S) FILING: Swiss Reinsurance Company By: Markus U. Diethelm, Member of Senior Management Swiss Re America Holding Corporation By: John T. Baily, Vice President Conning Corporation ("Conning Corp.") By: Paul W. Kopsky, Executive Vice-President Conning, Inc. By: Paul W. Kopsky, Executive Vice-President Conning & Company ("Conning") By: Paul W. Kopsky, Executive Vice-President Conning Investment Partners III, L. P. ("Conning Investment") By: Preston B. Kavanagh, Senior Vice-President Conning Insurance Capital Limited Partnership III, L. P. ("CICLP III") By: Preston B. Kavanagh, Senior Vice-President Conning Insurance Capital International Partners III, L. P. ("CICIPLP III") By: Preston B. Kavanagh, Senior Vice-President This statement is being filed jointly by the above-listed parties due to the following corporate structure: Swiss Reinsurance Company owns all of the outstanding capital stock of Swiss Re America Holding Corporation, which owns all of the outstanding capital stock of Conning Corp. Conning Corp. owns all of the outstanding capital stock of Conning, Inc., which owns all of the outstanding capital stock of Conning which has voting and dispositive control of Conning Investment as its general partner, which has voting and dispositive control of CICLP III and CICIPLP III as the general partner of CICLP III and CICIPLP III. Conning Corp., Conning, Inc., Conning, Conning Investment, CICLP III and CICIPLP III are collectively referred to herein as the "Conning Entities." By virtue of the relationships described above, Swiss Reinsurance Company and Swiss Re America Holding Corporation (collectively, the "Swiss Re Entities") may be deemed to beneficially own all of the shares of Common Stock beneficially owned by the Conning Entities. A copy of the agreement among the reporting persons that this Schedule 13G is filed on behalf of (collectively, the "Reporting Persons") is attached hereto as Exhibit A. Because of the relationships described in this Item 2(a), the Reporting Persons may be deemed to constitute a "group" within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended (the "Act"), and as such, each member of the group would be deemed to beneficially own, in the aggregate, all the shares of Common Stock held by members of the group. The Reporting Persons disclaim membership in a group. Page 10 of 15 ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: For: Swiss Reinsurance Company Mythenquai 50/60 8022 Zurich, Switzerland For: Swiss Re America Holding Corporation 175 King Street Armonk, New York 10504 For: Conning Corp., Conning Inc., Conning, Conning Investment, CICLP III and CICIPLP III City Place II, 185 Asylum Street Hartford, Connecticut 06103-4105 ITEM 2(c). CITIZENSHIP: Swiss Reinsurance Company is a Swiss corporation. Swiss Re America Holding Corporation is a Delaware corporation. Conning Corp. is a Missouri corporation. Conning, Inc. is a Delaware corporation. Conning is a Connecticut corporation. Conning Investment and CICLP III are Delaware limited partnerships. CICIPLP III is a Cayman Islands limited partnership. ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, par value $0.01 per share. ITEM 2(e). CUSIP NUMBER: 703588103 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(b) OR 13D-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) |_| Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) |_| Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) |_| Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) |_| Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) |_| An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G); (h) |_| A savings association as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3). This Schedule 13G statement is being filed pursuant to Rule 13d-1(d). Page 11 of 15 ITEM 4. OWNERSHIP.
----------------------------------------------------------------- Number of Shares as to which the Reporting Person has: - ---------------------------------------------------------------------------------------------------------------------- Sole Power to Sole Power to Shared Power Amount Vote or Shared Power Dispose or to to Dispose or Beneficially Percent of Direct the to Vote or to Direct the Direct the Reporting Person Owned (1) Class Vote Direct the Vote Disposition of Disposition of - ---------------------------------------------------------------------------------------------------------------------- Swiss Reinsurance 230,693 3.9% - 0 - 230,693 - 0 - 230,693 Company - ---------------------------------------------------------------------------------------------------------------------- Swiss Re America Holding 230,693 3.9% - 0 - 230,693 - 0 - 230,693 Corporation - ---------------------------------------------------------------------------------------------------------------------- Conning Corp. 230,693 3.9% - 0 - 230,693 - 0 - 230,693 - ---------------------------------------------------------------------------------------------------------------------- Conning, Inc. 230,693 3.9% - 0 - 230,693 - 0 - 230,693 - ---------------------------------------------------------------------------------------------------------------------- Conning 230,693 3.9% - 0 - 230,693 - 0 - 230,693 - ---------------------------------------------------------------------------------------------------------------------- Conning 230,693 3.9% - 0 - 230,693 - 0 - 230,693 Investment - ---------------------------------------------------------------------------------------------------------------------- CICLP III 165,115 2.8% - 0 - 165,115 - 0 - 165,115 - ---------------------------------------------------------------------------------------------------------------------- CICIPLP III 35,901 0.6% - 0 - 35,901 - 0 - 35,901 - ----------------------------------------------------------------------------------------------------------------------
(1) By virtue of the relationships described in Item 2(a), each of the Swiss Re Entities may be deemed to beneficially own all of the shares of Common Stock beneficially owned by the Conning Entities. By virtue of the relationships described in Item 2(a), the Swiss Re Entities, Conning Corp. and Conning, Inc. may be deemed to beneficially own all of the shares of Common Stock beneficially owned by Conning. By virtue of the relationships described in Item 2(a), Conning may be deemed to beneficially own all of the shares of Common Stock deemed beneficially owned by Conning Investment, CICLP III, and CICIPLP III. By virtue of the relationships described in Item 2(a), Conning Investment may be deemed to beneficially own all of the shares of Common Stock held directly by CICLP III and CICIPLP III. The filing of this statement by the Swiss Re Entities, Conning Corp., Conning, Inc. or Conning Investment shall not be construed as an admission that any of the Swiss Re Entities, Conning Corp., Conning, Inc. or Conning Investment is, for the purposes of Section 13(d) or Section 13(g) of the Act, the beneficial owner of any securities covered by this Schedule 13G. Because of the relationships described in Item 2(a), the Reporting Persons may be deemed to constitute a "group" within the meaning of Rule 13d-5 under the Act, and as such, each member of the group would be deemed to beneficially own, in the aggregate, all the shares of Common Stock held by members of the group. The Reporting Persons disclaim membership in a group. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this statement is being filed to report the fact that as of the date hereof the reporting person(s) has (have) ceased to be the beneficial owner of more than five percent of the class of securities, then check the following |X|. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable. Page 12 of 15 ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. See Exhibit B. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable. ITEM 10. CERTIFICATION. Not applicable. Page 13 of 15 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 13, 2002 Swiss Reinsurance Company By: /s/ Markus U. Diethelm ------------------------------------- Name: Markus U. Diethelm Title: Member of Senior Management Swiss Re America Holding Corporation By: /s/ John T. Baily ------------------------------------- Name: John T. Baily Title: Vice President Page 14 of 15 Dated: February 13, 2002 Conning Corporation By: /s/ Paul W. Kopsky ------------------------------------- Name: Paul W. Kopsky Title: Executive Vice President Conning, Inc. By: /s/ Paul W. Kopsky ------------------------------------- Name: Paul W. Kopsky Title: Executive Vice President Conning & Company By: /s/ Paul W. Kopsky ------------------------------------- Name: Paul W. Kopsky Title: Executive Vice President Conning Investment Partners III, L. P. By: /s/ Preston B. Kavanagh ------------------------------------- Name: Preston B. Kavanagh Title: Senior Vice President Conning Insurance Capital Limited Partnership III, L. P. By: /s/ Preston B. Kavanagh ------------------------------------- Name: Preston B. Kavanagh Title: Senior Vice President Conning Insurance Capital International Partners III, L. P. By: /s/ Preston B. Kavanagh ------------------------------------- Name: Preston B. Kavanagh Title: Senior Vice President Page 15 of 15 EXHIBIT A AGREEMENT AMONG REPORTING PERSONS In accordance with Rule 13d-1(k)(1) of the Securities Exchange Act of 1934, as amended, the undersigned each agree to the joint filing on behalf of each of them of the statement on Schedule 13G (including any and all further amendments thereto) with respect to the Common Stock of PAULA Financial, and agree that such statement is, and any amendments thereto filed by any of them will be, filed on behalf of each of them, and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filings. This Agreement may be executed in counterparts (including by facsimile), each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. Date: February 13, 2002 Swiss Reinsurance Company By: /s/ Markus U. Diethelm -------------------------------------- Name: Markus U. Diethelm Title: Member of Senior Management Swiss Re America Holding Corporation By: /s/ John T. Baily -------------------------------------- Name: John T. Baily Title: Vice President Date: February 13, 2002 Conning Corporation By: /s/ Paul W. Kopsky -------------------------------------- Name: Paul W. Kopsky Title: Executive Vice President Conning, Inc. By: /s/ Paul W. Kopsky -------------------------------------- Name: Paul W. Kopsky Title: Executive Vice President Conning & Company By: /s/ Paul W. Kopsky -------------------------------------- Name: Paul W. Kopsky Title: Executive Vice President Conning Investment Partners III, L. P. By: /s/ Preston B. Kavanagh -------------------------------------- Name: Preston B. Kavanagh Title: Senior Vice President Conning Insurance Capital Limited Partnership III, L. P. By: /s/ Preston B. Kavanagh -------------------------------------- Name: Preston B. Kavanagh Title: Senior Vice President Conning Insurance Capital International Partners III, L. P. By: /s/ Preston B. Kavanagh -------------------------------------- Name: Preston B. Kavanagh Title: Senior Vice President [COUNTERPART SIGNATURE PAGE TO AGREEMENT AMONG REPORTING PERSONS] EXHIBIT B IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON Swiss Reinsurance Company, a Swiss corporation, is a parent holding company that is (with the other reporting persons) filing this statement pursuant to Rule 13d-1(d). On July 2, 2001, Swiss Re America Holding Corporation, a Delaware corporation and wholly owned subsidiary of Swiss Reinsurance Company, purchased all of the issued and outstanding capital stock of Conning Corporation. As described in Item 2(a), Conning Corporation owns all of the outstanding capital stock of Conning, Inc., which owns all of the outstanding capital stock of Conning & Company, which (as the general partner) has voting and dispositive control over Conning Investment Partners III, L.P., which has voting and dispositive control over Conning Insurance Capital Limited Partnership III, L.P. and Conning Insurance Capital International Partners III, L.P. as the general partner of each. Accordingly, Swiss Reinsurance Company, Swiss Re America Holding Corporation, Conning Corporation, Conning, Inc., Conning & Company and Conning Investment Partners III, L.P. are each parent holding companies or control persons in the holding company structure described in Item 2(a) and Item 4, which identify the relationships among such parties and their respective subsidiaries or control persons. -----END PRIVACY-ENHANCED MESSAGE-----