-----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, E5ZpXbpwj9ObMtHtVNm/evSOHZytpMARbLn5+zuKp4SAw989myjn/s0UE8ngZaMP DkN/6O0XT5c2bsN1t9XVwA== 0000950172-02-002177.txt : 20021018 0000950172-02-002177.hdr.sgml : 20021018 20021017174540 ACCESSION NUMBER: 0000950172-02-002177 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021017 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: FILED AS OF DATE: 20021018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITRIN INC CENTRAL INDEX KEY: 0000860748 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 954255452 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-18298 FILM NUMBER: 02791982 BUSINESS ADDRESS: STREET 1: ONE EAST WACKER DR CITY: CHICAGO STATE: IL ZIP: 60601 BUSINESS PHONE: 3126614600 MAIL ADDRESS: STREET 1: ONE EAST WACKER DR CITY: CHICAGO STATE: IL ZIP: 60601 8-K 1 ch331248.txt FORM 8-K 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) October 17, 2002 ------------------------------- Unitrin, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware - -------------------------------------------------------------------------------- (State or other jurisdiction of incorporation or organization) One East Wacker Drive, Chicago, Illinois 60601 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) 0-18298 95-4255452 - -------------------------------------------------------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) (312) 661-4600 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Not Applicable - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements, Pro Forma Financial Information And Exhibits (c) Exhibits Exhibit No. Exhibit 99.1 Unitrin, Inc. news release dated October 17, 2002. Item 9. Regulation FD Disclosure On Thursday, October 17, 2002, Unitrin, Inc. issued a news release, a copy of which is furnished herewith as Exhibit 99.1. 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 thereunto duly authorized. Unitrin, Inc. -------------------------------------------- Date: October 17, 2002 /s/Richard Roeske -------------------------------------------- Richard Roeske Vice President and Chief Accounting Officer EX-99 3 b991.txt EXHIBIT 99.1 Exhibit 99.1 ------------ UNITRIN News Release Unitrin to Take Third Quarter Charges - ------------------------------------- Chicago, IL - October 17, 2002 (BW) - Unitrin, Inc. (NYSE:UTR) announced today that it will be increasing its property and casualty insurance reserves in the third quarter of 2002 to reflect adverse development of prior accident year losses. Management estimates that the reserve additions will be in the range of $50 million to $60 million before-tax, or $33 million to $39 million after-tax. The reserve increases reflect developing loss trends primarily related to construction, mold, automobile liability and product liability loss exposures in its commercial lines of business. The company expects to reduce policies in force in certain commercial lines through extensive re-underwriting of contractors and related industries, program business, workers compensation, and product liability. Aggressive pricing on commercial lines will intensify on selected portions of the book. The company is also currently in the process of completing a comprehensive review of certain property and casualty insurance reserves. Unitrin also announced that it expects to report a net realized loss in its investment portfolio of approximately $8 million after-tax in the third quarter, primarily due to write downs of certain common stock and fixed maturity investments to reflect other than temporary declines in market value. The company will record a net loss for the three months ended September 30, 2002 and will likely report a net loss for the nine months ended September 30, 2002. The company plans to release its full results for the third quarter on or about November 5, 2002. This press release contains forward-looking statements, which usually include words such as "believe(s)," "goal(s)," "target(s)," "estimate(s)," "anticipate(s)," "expect(s)," "forecast(s)," "plan(s)" and similar expressions. Readers are cautioned not to place undue reliance on such statements, which speak only as of the date of this press release. Forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those contemplated in such statements. Such risks and uncertainties include, but are not limited to, changes in economic factors (such as interest rates, unemployment rates and stock market fluctuations), changes in competitive conditions (including availability of labor with required technical or other skills), the number and severity of insurance claims (including those associated with catastrophe losses), regulatory approval of certain insurance rates, license applications and similar matters, governmental actions (including new laws or regulations or court decisions interpreting existing laws and regulations), and adverse judgments in litigation to which the Company or its subsidiaries are parties. No assurances can be given that the results contemplated in any forward-looking statements will be achieved or will be achieved in any particular timetable. Unitrin assumes no obligation to release publicly any revisions to any forward-looking statements as a result of events or developments subsequent to the date of this press release. Unitrin, Inc.'s subsidiaries are engaged in three businesses: property and casualty insurance, life and health insurance, and consumer finance. Additional information about Unitrin is available for viewing by visiting its website (www.unitrin.com). CONTACT: Unitrin, Inc. Edward J. Konar at (312) 661-4930 or via e-mail at investor.relations@unitrin.com -----END PRIVACY-ENHANCED MESSAGE-----