-----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, Ou1pjHn1VSAAMNWDZU3I+WasJW9o+ekUH5cBm+D4pbbbYDg1BR2mqI/0l3OzfcLk UiHBu8w/FxQeU9HHvfQEYw== 0001097833-04-000020.txt : 20041019 0001097833-04-000020.hdr.sgml : 20041019 20041019114232 ACCESSION NUMBER: 0001097833-04-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041018 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041019 DATE AS OF CHANGE: 20041019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALLMERICA FINANCIAL CORP CENTRAL INDEX KEY: 0000944695 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 043263626 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13754 FILM NUMBER: 041084596 BUSINESS ADDRESS: STREET 1: 440 LINCOLN ST CITY: WORCESTER STATE: MA ZIP: 01653 BUSINESS PHONE: 5088551000 MAIL ADDRESS: STREET 1: 440 LINCOLN ST CITY: WORCESTER STATE: MA ZIP: 01653 8-K 1 form8k101804.txt ALLMERICA FINANCIAL HURRICANE JEANNE 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): October 18, 2004 ALLMERICA FINANCIAL CORPORATION ------------------------------- (Exact name of Registrant as specified in its charter) Delaware 1-13754 04-3263626 -------- ------- ---------- (State or other jurisdic- (Commission File Number) (I.R.S. Employer tion of incorporation) Identification No.) 440 Lincoln Street, Worcester, Massachusetts 01653 -------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (508) 855-1000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 7.01. Regulation FD Disclosure On October 18, 2004, Allmerica Financial Corporation announced estimated pre-tax catastrophe losses from Hurricane Jeanne of approximately $30 million. The anticipated charges will be reflected in the Company's third quarter results. The press release is furnished as Exhibit 99.1 hereto. Item 9.01. Financial Statements and Exhibits (a) Not applicable. (b) Not applicable. (c) Exhibits. The following exhibit is furnished herewith. Exhibit 99.1 Press Release dated October 18, 2004, announcing estimated pre-tax catastrophe losses related to Hurricane Jeanne. 2 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. Allmerica Financial Corporation ------------------------------- Registrant By: /s/ Edward J. Parry III ------------------------ Edward J. Parry III Chief Financial Officer, Executive Vice President, Principal Accounting Officer and Director Date: October 18, 2004 3 Exhibit Index Exhibit 99.1 Press Release, dated October 18, 2004, announcing estimated pre-tax catastrophe losses related to Hurricane Jeanne. 4 EX-99 2 exhibit99_1.txt EXHIBIT 99-1 ALLMERICA FINANCIAL PRESS RELEASE Exhibit 99.1 ALLMERICA FINANCIAL CORPORATION ANNOUNCES ESTIMATED HURRICANE JEANNE LOSSES OF APPROXIMATELY $30 MILLION WORCESTER, Mass., October 18, 2004 - Allmerica Financial Corporation (NYSE: AFC) announced estimated pre-tax catastrophe losses of approximately $30 million related to Hurricane Jeanne. The company expects to cede all Hurricane Jeanne losses to reinsurers, subject to a 10 percent retention, since year-to-date catastrophe losses eligible for reinsurance have exceeded the retention limit in the company's property catastrophe aggregate reinsurance treaty. This reduces the company's pre-tax estimated loss impact from Hurricane Jeanne to about $3 million, net of reinsurance. The company's property catastrophe aggregate reinsurance treaty protects against multiple catastrophes within a single year. The treaty provides $50 million of reinsurance coverage in excess of cumulative losses in the year of approximately $80 million. For purposes of the $80 million retention, individual events are capped at $30 million. In addition, the company retains 10% of the risk on the $50 million coverage. Estimated year-to-date catastrophe losses eligible for reinsurance total $122 million. Under the terms of the reinsurance agreement the company has $8 million in reinsurance coverage available for eligible catastrophe losses incurred through the end of 2004, subject to a 10 percent retention. Estimated pre-tax catastrophe losses net of reinsurance for the quarter to date are approximately $62 million, or $1.06 per share after taxes. The anticipated charges will be reflected in the company's third quarter results. Total estimated pre-tax catastrophe losses for the year to date are at $98 million, net of reinsurance. Allmerica Financial Corporation is scheduled to announce its third quarter financial results on Monday, October 25. Certain statements in this release, including the Company's estimates of pre-tax catastrophe losses, may be considered to be forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Use of the words "believes", "anticipates", "expects" and similar expressions is intended to identify forward-looking statements. The Company cautions investors that any such forward-looking statements are not guarantees of future performance, and actual results could differ materially. Investors are directed to consider the risks and uncertainties in our business that may affect future performance and that are discussed in readily available documents, including the Company's annual report and other documents filed by Allmerica with the Securities and Exchange Commission and which are also available at www.allmerica.com under "Investor Relations". These uncertainties include the difficulty in estimating catastrophe losses, as well as the possibility of adverse catastrophe experience and severe weather, adverse loss development and adverse trends in mortality and morbidity, changes in the stock and financial markets, changes from assumed surrender activities and assumed stock market returns, adverse selection in underwriting activities and surrender patterns, investment impairments, heightened competition, adverse state and federal legislation or regulation, financial ratings actions, and various other factors, which include the effect of the Company's decision to close its retail broker-dealer operations as well as the anticipated impact and cost of the GMDB hedging program. Allmerica Financial Corporation is the holding company for a group of insurance companies headquartered in Worcester, Massachusetts. CONTACTS: Investors: Media: Sujata Mutalik Michael F. Buckley (508) 855-3457 (508) 855-3099 smutalik@allmerica.com mibuckley@allmerica.com -----END PRIVACY-ENHANCED MESSAGE-----