UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  FORM 12b-25

NOTIFICATION OF LATE FILING                  SEC  FILE  NUMBER
                                                     000-24366
                                                 -------------

            (Check  One):
[   ]  Form  10-K  [  ]  Form  20-F   [   ]  Form 11-K
[X]  Form  10-Q  [  ]  Form  N-SAR

For  Period  Ended:          June  30,  2003
                          ----------------------
[  ]     Transition  Report  on  Form  10-K
[  ]     Transition  Report  on  Form  20-F
[  ]     Transition  Report  on  Form  11-K
[  ]     Transition  Report  on  Form  10-Q
[  ]     Transition  Report  on  Form  N-SAR
For  the  Transition  Period  Ended:

     Read  Instruction  (on  back  page) Before Preparing Form.  Please Print or
Type.

     NOTHING  IN  THIS  FORM SHALL BE CONSTRUED TO IMPLY THAT THE COMMISSION HAS
VERIFIED  ANY  INFORMATION  CONTAINED  HEREIN.

     If  the  notification  relates  to  a  portion of the filing checked above,
identify  the  Item(s)  to  which  the  notification  relates:


     PART  I-REGISTRANT  INFORMATION


     Full  Name  of  Registrant

Goran  Capital  Inc.
- --------------------

     Former  Name  if  Applicable


Address  of  Principal  Executive  Office  (Street  and  Number)

4720  Kingsway  Drive
- ---------------------

     City,  State  and  Zip  Code

Indianapolis,  Indiana  46205
- -----------------------------

     PART  II-RULES  12B-25  (B)  AND  (C)

     If  the  subject  report  could not be filed without unreasonable effort or
expense  and  the  registrant  seeks  relief  pursuant  to  Rule  12b-25(b), the
following  should  be  completed.  (Check  box  if  appropriate)  [  X  ]

          (a)     The reasons described in reasonable detail in Part III of this
form  could  not  be  eliminated  without  unreasonable  effort  or  expense;

          (b)     The  subject  annual  report,  semi-annual  report, transition
report  on  Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will be
filed on or before the fifteenth calendar day following the prescribed due date;
or  the  subject  quarterly report or transition report on Form 10-Q, or portion
thereof  will  be  filed  on  or  before  the  fifth  calendar day following the
prescribed  due  date;  and

          (c)     The  accountant's  statement or other exhibit required by Rule
12b-25(c)  has  been  attached  if  applicable.


          PART  III-NARRATIVE

          State  below  in  reasonable  detail  the reasons why Form 10-K, 20-F,
11-K,  10-Q,  N-SAR,  or  the transition report or portion thereof, could not be
filed  within  the  prescribed  time  period.

                         (Attach Extra Sheets if Needed)

As  of  August  14,  2003  the  Registrant  has  not  finalized its consolidated
financial  statements  for  the  quarter  ended  June 30, 2003. BDO Seidman, LLP
("BDO"),  the  Company's independent auditor, was engaged to perform an audit of
Superior  Insurance Company, a subsidiaries of Symons International Group, Inc.,
for  the interim period ending June 30, 2003. The audit is not yet completed and
therefore, the Registrant is unable to file its Quarterly Report on Form 10-Q at
this  time.


          PART  IV-OTHER  INFORMATION


          (1)     Name  and  telephone  number of person to contact in regard to
this  notification

     Douglas  H.  Symons            317                        259-6413
         (Name)                 (Area  Code)              (Telephone Number)


          (2)     Have  all  other periodic reports required under section 13 or
15(d)  of  the  Securities  Exchange Act of 1934 or section 30 of the Investment
Company  Act  of  1940 during the preceding 12 months or for such shorter period
that  the  registrant  was  required  to  file such report(s) been filed? If the
answer  is  no,  identify  report(s).                  [  X  ]  Yes     [  ]  No


          (3)     Is  it  anticipated  that any significant change in results of
operations  from  the  corresponding  period  for  the  last fiscal year will be
reflected  by  the  earnings  statements to be included in the subject report or
portion  thereof?                                      [  ]  Yes     [  X  ]  No


If  so:  attach  an  explanation of the anticipated change, both narratively and
quantitatively,  and if appropriate, state the reasons why a reasonable estimate
of  the  results  cannot  be  made.



                               GORAN CAPITAL INC.
        -----------------------------------------------------------------
                  (Name of Registrant as specified in charter)

          has  caused  this  notification  to  be  signed  on  its behalf by the
undersigned  hereunto  duly  authorized.


Date     August  14,  2003          By:-----------------------------------------
                                 Douglas  H.  Symons,  Chief  Executive  Officer


          INSTRUCTION:  The  form  may  be signed by an executive officer of the
registrant  or  by any other duly authorized representative.  The name and title
of  the person signing the form shall be typed or printed beneath the signature.
If  the  statement  is  signed  on  behalf  of  the  registrant by an authorized
representative  (other  than  an  executive  officer),  evidence  of  the
representative's  authority  to  sign on behalf of the registrant shall be filed
with  the  form.

                                    ATTENTION
          INTENTIONAL  MISSTATEMENTS  OR  OMISSIONS  OF  FACT CONSTITUTE FEDERAL
CRIMINAL  VIOLATIONS  (SEE  U.S.C.  1001)