Union Fire Termination Agreement 8-K January 11, 2006
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
BRISTOL
WEST HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
Date
of
Report (Date of Earliest Event Reported):
January 9, 2006
Commission
File No. 001-31984
Delaware 001-31984 13-3994449
(State
or other
jurisdiction (Commission File No.) (I.R.S.
Employer
of
incorporation) Identification
No.)
5701
Stirling Road, Davie,
Florida 33314
(Address
of principal executive offices) (Zip
Code)
Registrant’s
telephone number, including area code: (954)
316-5200
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))
Item
1.01. Entry Into a Material Definitive Agreement
On
January 9, 2006, Bristol West Insurance Company (“Bristol
West Insurance”),
Bristol West Casualty Insurance Company (“Bristol
West Casualty”),
Coast
National Insurance Company (“Coast
National”),
and
Security National Insurance Company (“Security
National”)
entered into a Termination Agreement and Release (the “Termination
Agreement”)
with
National Union Fire Insurance Company of Pittsburgh, PA (the “Subscribing
Reinsurer”).
The
Termination Agreement commutes, effective January 1, 2006, a Quota Share
Reinsurance Contract and related Interests and Liabilities Agreement among
Coast
National, Security National, Bristol West Insurance and Bristol West Casualty
(collectively, the “Subscribing
Company”)
and
the Subscribing Reinsurer, each with an effective date of January 1, 2005
(collectively, the “Quota
Share Agreement”).
A
copy of the Termination Agreement is attached hereto as Exhibit 99.1 to this
Form 8-K.
The
Termination Agreement will result in the Subscribing Reinsurer being released
as
of January 1, 2006 from any future liability pursuant to the Quota Share
Agreement in return for the Subscribing Reinsurer paying to the Subscribing
Company by January 31, 2006, the amount of $11,004,360, representing all
balances due the Subscribing Company.
Item
9.01. Financial Statements and Exhibits
(c) Exhibits
99.1 Termination
Agreement
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.
BRISTOL
WEST HOLDINGS, INC.
(Registrant)
Date: January
12, 2006 By: /s/
Craig E. Eisensacher
Craig
E.
Eisenacher
CFO
and
Senior Vice President - Corporate Finance
(Principal
Financial Officer, Principal Accounting Officer and duly authorized
officer)