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): February 5, 2018
EMC INSURANCE GROUP INC. |
(Exact name of registrant as specified in its charter) |
Iowa | 0-10956 | 42-6234555 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
717 Mulberry Street, Des Moines, Iowa | 50309 | |
(Address of Principal Executive Offices) | (Zip Code) | |
(515) 345-2902 |
(Registrant’s Telephone Number, Including Area Code) |
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act. o
Item 1.01 | Entry into a Material Definitive Agreement |
On February 5, 2018, at a joint meeting, the Inter-Company Committees of the boards of directors of EMC Insurance Group Inc. (the "Company") and Employers Mutual Casualty Company (Employers Mutual), the Company's parent organization, approved a change in the interest rate on the $25,000,000 of surplus notes issued to Employers Mutual by the Company's property and casualty insurance subsidiaries. Effective February 1, 2018, the interest rate was increased to 2.73 percent from the previous rate of 1.35 percent. Reviews of the interest rate are conducted by the Inter-Company Committees every five years, with the next review due in 2023. The change in interest rate is subject to approval by regulatory authorities of the respective states of domicile of the property and casualty insurance subsidiaries.
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, on February 7, 2018.
EMC INSURANCE GROUP INC. |
Registrant |
/s/ Mark E. Reese |
Mark E. Reese |
Senior Vice President and |
Chief Financial Officer |