<PAGE>
 
                                   FORM 10-Q              
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

                 For the quarterly period ended March 31, 1998
                                       or

[_]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from ___________________ to ___________________

Commission file Number: 001-12099

                            The Centris Group, Inc.
                            -----------------------
             (Exact name of Registrant as specified in its charter)

               DELAWARE                            33-0097221
               --------                            ----------
   (State or other jurisdiction of              (I.R.S. Employer
   incorporation or organization)              Identification Number)

           650 Town Center Drive, Suite 1600, Costa Mesa, CA  92626
           --------------------------------------------------------
            (Address of principal executive offices)     (Zip code)

                                 (714)549-1600
                                 -------------
             (Registrant's telephone number, including area code)

                                 Not applicable
                                 --------------
(Former name, former address and former fiscal year, if changed since last 
                                   report.)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

YES     X     NO
     -------     -------  

Number of shares outstanding of each class of the Registrant's Common Stock as
of May 7, 1998:

Common Stock, par value $.01 per share:  12,180,296
Common Stock Purchase Rights:            12,180,296
<PAGE>
 
                                     INDEX


Part I   FINANCIAL INFORMATION
 
      Item 1. FINANCIAL INFORMATION
               Unaudited Condensed Consolidated Financial Statements:
 
         Balance Sheets as of March 31, 1998 and
               December 31, 1997........................................     2
 
         Income Statements for the Quarters Ended
               March 31, 1998 and 1997..................................     3
 
         Statements of Cash Flows for the Quarters Ended
               March 31, 1998 and 1997..................................     4
 
         Notes to Condensed Consolidated Financial Statements...........     5
 
      Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
              FINANCIAL CONDITION AND RESULTS OF OPERATIONS.............     7

Part II  OTHER INFORMATION


      Item 6. EXHIBITS and REPORTS ON FORM 8-K..........................    14

SIGNATURES..............................................................    16
<PAGE>
 
                          PART I FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS
         Unaudited Condensed Consolidated Financial Statements:


                            The Centris Group, Inc.
                     Condensed Consolidated Balance Sheets
                            (Dollars in thousands)

<TABLE> 
<CAPTION> 

                                            March 31, 1998    December 31, 1997 
                                            --------------    -----------------  
<S>                                         <C>               <C>               
ASSETS                                                                          
Investments, at market (amortized cost                                          
 $220,416 at March 31,1998, $214,407  at                                        
 December 31,1997)                                $230,849            $223,824  
Cash and invested cash                               9,318              11,122 
Restricted cash and short term investments          31,614              27,947 
Accrued investment income                            2,713               3,196 
Receivables:                                                                   
     Reinsurance losses and reserves                29,839              26,932 
     Premiums                                       27,061              26,012 
Prepaid reinsurance premiums                         8,997               7,799 
Deferred policy acquisition costs                    4,406               4,495 
Other assets                                        11,605              11,921 
                                                  --------            -------- 
                                                                               
  Total assets                                    $356,402            $343,248 
                                                  ========            ======== 
                                                                               
<CAPTION>                                                                      
                                                                               
LIABILITIES AND STOCKHOLDERS' EQUITY                                           
                                                                               
Liabilities                                                                    
Insurance liabilities:                                                         
     Amounts due insurance companies              $ 44,561            $ 36,470
     Losses and loss adjustment expenses           124,362             116,801 
     Unearned premiums                              30,402              30,249 
  Note payable                                      31,175              32,500 
  Accounts payable and accrued expenses              3,674               9,638 
                                                  --------            -------- 
     Total liabilities                             234,174             225,658 
                                                                               
Stockholders' Equity                               122,228             117,590 
                                                  --------            -------- 
                                                                               
     Total liabilities and stockholders'                                       
      equity                                      $356,402            $343,248 
                                                  ========            ======== 
</TABLE>
                                                                                
See accompanying notes to condensed consolidated financial statements.
<PAGE>
 
                            The Centris Group, Inc.
                    Condensed Consolidated Income Statements
                 (Dollars in thousands, except per share data)

<TABLE> 
<CAPTION> 
                                                        Quarter ended March 31, 
                                                        -----------------------
                                                           1998         1997
                                                           ----         ----   
Revenues:
<S>                                                     <C>            <C>
   Premiums earned                                         $41,433      $39,283
   Commissions and fees                                      8,694        8,042
   Net investment income                                     3,149        2,691
   Realized investment gains                                   641          177
                                                           -------      -------
                                                     
     Total revenues                                         53,917       50,193
                                                           -------      -------
 
Operating Expenses:
   Losses and loss adjustment expenses
     incurred                                               30,381       27,996
   Policy acquisition expenses                              12,166       11,909
   General and administrative expenses                       4,631        4,454
   Interest                                                    556          614
                                                           -------      -------
     Total operating expenses                               47,734       44,973
                                                           -------      -------
 
Income before income taxes                                   6,183        5,220
 
   Income tax expense                                        1,949        1,560
                                                           -------      -------
                                                           
                                                           $ 4,234      $ 3,660
Net income                                                 =======      =======
                                                           
Basic earnings per share                                   $  0.35      $  0.31
                                                           =======      =======
Diluted earnings per share                                 $  0.34      $  0.30
                                                           =======      =======
</TABLE>
                                                                                

 See accompanying notes to condensed consolidated financial statements.
<PAGE>
 
                            The Centris Group, Inc.
                Condensed Consolidated Statements of Cash Flows
                             (Dollars in thousands)
<TABLE> 
<CAPTION> 
                                                        Quarter ended March 31,
                                                        -----------------------
                                                           1998         1997
                                                        ----------   ---------- 
<S>                                                     <C>          <C>
Cash provided by operating activities                     $  6,058      $ 2,381
                                                                               
Cash flows from investing activities:                                          
    Purchases of fixed maturity investments                (14,745)      (9,572)
    Purchases of equity securities                         ( 2,814)        (189)
    Proceeds from sales of investment                                     
    securities                                              11,907        4,612
    Net sales (purchases) of short term                                   
    investments                                               (559)       3,529
    Purchases of property and equipment                        (69)        (443)
                                                          --------      -------
                                                                           
Cash used in investing activities                           (6,280)      (2,063)
                                                          --------      -------
                                                                              
Cash flows from financing activities:                                         
    Dividends paid                                            (374)        (358)
    Exercise of stock options                                  117            3
    Payments on note payable                                (1,325)        (625)
                                                          --------      -------
Cash (used in) provided by financing                        (1,582)        (980)
    activities                                            --------      -------
                                                                        
Net decrease in cash and invested cash                      (1,804)        (662)
                                                                           
Cash and invested cash at beginning of period               11,122       11,132
                                                          --------      -------
                                                                        
Cash and invested cash at end of period                   $  9,318      $10,470
                                                          ========      =======
 
Supplemental disclosure of cash flow
 information:
 
Interest paid                                             $    567      $   582
                                                          ========      =======
 
                                                          $  1,184      $   818
Income taxes paid, net                                    ========      =======
                                                             
</TABLE>


See accompanying notes to condensed consolidated financial statements.
<PAGE>
 
                            The Centris Group, Inc.
              Notes to Condensed Consolidated Financial Statements
                                        
1.  General

          The accompanying unaudited condensed consolidated financial statements
have been prepared in accordance with generally accepted accounting principles
and the instructions to Form 10-Q.  Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements.  In the opinion of management all adjustments
(consisting only of normal recurring accruals) considered necessary for a fair
presentation have been included.  The results of operations for the three months
ended March 31,1998 are not necessarily indicative of the results to be expected
for the full year.  For further information, refer to the consolidated financial
statements and footnotes thereto for the year ended December 31,1997 included in
the 1997 Annual Report to Stockholders of The Centris Group, Inc. (the
"Company").

2.  Other
 
     SFAS 131, "Disclosures about Segments of an Enterprise and Related
Information" will be adopted by the Company for the year ended December 31,
1998.   Presently, the Company regularly reports segment information.
Accordingly, adoption of this standard is not expected to result in a
significant change to the Company's financial disclosures.

3.  Stock Split

     On February 3, 1998, the Company announced that its Board of Directors had
authorized a two-for-one split of its common stock in the form of a 100% stock
dividend to stockholders of record as of February 18,1998.  Certificates
reflecting the stock split were issued February 27,1998.  All references in the
financial statements to number of shares, per share amounts and market prices of
the Company's common stock have been adjusted retroactively for all periods
presented to reflect this change in capital structure.
<PAGE>
 
4.  Income Per Share

Reconciliation of income and outstanding shares and related per share amounts
adjusted to reflect the February 27, 1998 two-for-one stock split, is presented
below (In thousands of dollars, except per share data):



<TABLE>
<CAPTION>
Quarter ended March 31,                           1998                 1997
------------------------------------------------------------------------------
<S>                                              <C>                   <C>  
Income(Numerator)
   Income available to Common Stockholders
   for Basic and Diluted income per share        $ 4,234               $ 3,660
 
Weighted Average Shares (Denominator)
   Basic Shares                                   12,167                11,920
Effect of dilutive securities
     Common Stock Equivalents                        278                   268
                                                 -------               -------
   Diluted Shares                                 12,445                12,188
                                                 =======               =======
Per Share Amounts
   Basic Income per Share                        $  0.35               $  0.31
   Diluted Income per Share                      $  0.34               $  0.30
</TABLE>

5. Comprehensive Income

SFAS No. 130, "Reporting Comprehensive Income" was adopted by the Company
effective January 1, 1998. Comprehensive income represents a measure of all
changes in equity of an enterprise that result from recognized transactions and
other economic events of the period other than transactions with owners in their
capacity as owners. Comprehensive income for the quarterly periods ended March
31, 1998 and 1997 was $4,895,000 and $1,521,000, respectively.  The Company's
Comprehensive Income is comprised of net income for the period plus the tax
effected increase or decrease in unrealized gains occurring during the period.
<PAGE>
 
ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS.

Results Of Operations
---------------------

Consolidated revenues of The Centris Group, Inc. (the "Company") increased 7% to
$53,917,000 for the 1998 first quarter from $50,193,000 in the 1997 quarter.
Revenue improvements in the first quarter of 1998 result from growth in the
medical lines and property/casualty segments which reflect continued progress
integrating 1997 acquisitions and further expansion of geographic coverage to
enhance and increase the Company's sources of premium and fee based revenue. Net
investment income reflects a 17% increase over the 1997 period  as a result of
higher levels of invested assets resulting from higher production levels in each
business segment.  Changes in realized gains in the 1998 period as compared to
the 1997 period arise from the continuous evaluation of the investment portfolio
to enhance and maintain yields and total return consistent with the Company's
investment guidelines.

Insurance and reinsurance companies establish reserves for losses incurred, but
not yet paid or reported, in order to match such losses with the related
premiums earned.  The process of establishing loss reserves is subject to
uncertainties that are a normal, recurring aspect of the insurance business
which requires the use of informed judgments and estimates. Loss and loss
adjustment expense("LAE") reserve development is reviewed on a regular basis,
incorporating analysis of current trends, market changes in the Company's
business segments and historical experience to analyze the Company's actuarial
assumptions.  As additional experience and other data becomes available, the
Company's actuarial estimates may be revised.  Such revisions may impact
earnings.  Losses and LAE increased 9% to $30,381,000 in the first quarter of
1998 from $27,996,000 in the 1997 period primarily reflecting increased
reserving of casualty lines partially offset by improved loss experience in the
medical lines segment.  See segment information contained herein for additional
disclosures.  Policy acquisition expenses vary on the basis of market conditions
and mix of business.

General and administrative expenses increased 4% to $4,631,000 in the 1998
period from $4,454,000 in the 1997 period reflecting the Company's ongoing
emphasis on productivity, which mitigated the additional expenses attributable
to three strategic acquisitions completed during 1997.  Despite such additional
expenses, the Company has maintained general and administrative expenses at 9%
of revenues in both periods.

Consolidated net income increased 16% to $4,234,000 in the first quarter of 1998
from $3,660,000 in the 1997 quarter, primarily due to increased production
levels in each business segment combined with the effect of more stringent
standards established for the medical lines producer network which are reflected
in the results of the medical segment for the first quarter of 1998.
<PAGE>
 
Income taxes as a percentage of pre-tax income fluctuate depending on the
proportion of tax exempt investment income to total pre-tax income and the
proportion of total income subject to state income taxes.  The increase in the
effective income tax rate in the 1998 period as compared to 1997 results from
the tax effect of acquired companies and the utilization of tax benefits and
changes in valuation allowances which were available in prior periods.

The statutory combined ratio is the traditional indicator of the potential
underwriting profitability of an insurance company's business. The Company's
statutory combined ratios were 101.2 and 98.8 for the quarters ended March 31,
1998 and 1997, respectively.

Business Segments
-----------------
The Company conducts business in two segments:

Medical lines  includes medical stop-loss and provider excess coverages
-------------                                                          
underwritten by USBenefits Insurance Services, Inc. ("USBenefits") on behalf of
The Continental Insurance Company ("Continental"), one of the CNA Insurance
Companies, reinsurance of 50% of such business by USF RE INSURANCE COMPANY ("USF
RE") and catastrophic accident and health risks underwritten and managed
nationally and internationally by INTERRA Reinsurance Group, Inc. ("INTERRA").
USBenefits is the underwriting manager and marketing organization for medical
lines coverages issued on behalf of Continental and for group life insurance
coverage issued by an affiliate of Continental.   Medical stop-loss coverage is
a form of  excess insurance that protects employers that self-fund their
employee healthcare plans by capping their exposure from the risk of loss.
Provider excess coverage limits the financial risks healthcare providers face
from medical plans that prepay the providers fixed sums per plan participant
(capitated fees) or provide specified rates for services.  USBenefits also
markets other employee benefits related products.  Medical lines  products are
marketed through a network of unaffiliated third party administrators, insurance
agents, brokers and consultants.

Property/Casualty  reinsurance and insurance underwriting is conducted by USF RE
-----------------                                                               
and its wholly-owned subsidiary USF Insurance Company ("USFIC").  These
subsidiaries both carry  an A (Excellent) rating from A.M. Best Company and USF
RE is assigned a claims paying ability rating of Aq (Good) by Standard & Poor's.
Insurance companies purchase reinsurance in order to control and manage the
risks they accept when they issue policies.  USF RE assumes facultative and
treaty reinsurance from unaffiliated insurance companies, primarily through
reinsurance intermediaries.  Facultative is reinsurance of one risk at a time,
while reinsurance treaties cover a portion of all policies written by another
insurer in a particular risk category.  USF RE concentrates its casualty
writings in commercial auto liability, general liability and products liability.
It also provides a broad range of coverages for most types of property
exposures.  USFIC writes surplus lines insurance on commercial 
<PAGE>
 
property/casualty risks which are marketed through independent excess and
surplus lines brokers.

The tables set forth below present pre-tax operating information by business
segment and holding company operations (including realized gains) for the
quarters ended March 31, 1997 and 1996, respectively.

Medical  Lines
--------------
(Dollars in thousands)

<TABLE> 
<CAPTION> 
                                                    Quarter Ended
                                                       March 31
                                            --------------------------------
                                              1998       1997     % Change    
                                            --------   --------  -----------  
<S>                                         <C>        <C>       <C>          
Revenues:                                                                     
    Premiums earned                          $25,840    $25,032        3 %    
    Commissions and fees                       8,538      8,042        6 %    
    Investment income                            997        865       15 %    
                                             -------    -------               
    Total revenues                            35,375     33,939        4 %    
                                             -------    -------               
Expenses:                                                                     
    Losses and loss adjustment                18,224     17,886        2 %    
    Policy acquisition                         9,092      8,606        6 %    
    General and administrative                 3,275      3,339      (2) %    
                                             -------    -------               
    Total expenses                            30,591     29,831        3 %    
                                             -------    -------               
Income before income taxes                   $ 4,784    $ 4,108       16 %    
                                             =======    =======      =====     
</TABLE>

In medical lines, total revenues advanced 4% to $35,375,000 in the first quarter
of 1998 from $33,939,000 in the first quarter of 1997. Premiums earned increased
3%, reflecting growth of 12% in the Company's medical stop-loss business and 78%
in its provider excess line, offset by the planned runoff of certain business
acquired as part of the Company's 1997 purchase of Global Excess Re.  Commission
and fee income for the 1998 quarter was enhanced by the contribution of INTERRA
Reinsurance Group which was acquired in September 1997.

Losses and LAE in the 1998 quarter reflect the impact of pricing and
underwriting actions taken in the third quarter of 1997 to support and improve
medical lines profitability.  Such actions, including focusing marketing efforts
on larger groups with more predictable outcomes, rating actions in regions of
the country where managed care is not firmly established and more stringent
standards established for the producer network, began to be reflected in the
fourth quarter of 1997 and favorably effect results for the first quarter of
1998.
<PAGE>
 
Policy acquisition expenses vary due to the level of production activity, mix of
business and market conditions. Decreases in general and administrative expenses
in the 1998 quarter primarily result from continued emphasis on maximizing
efficiency and productivity.


Property/Casualty
-----------------
(Dollars in thousands)
<TABLE>
<CAPTION>
                                                   Quarter ended
                                                     March 31
                                        -----------------------------------
                                          1998        1997       % Change
                                        --------    --------   ------------
<S>                                     <C>         <C>        <C>
Revenues:
    Premiums earned                      $15,593     $14,251            9 %
    Commissions and fees                     156          --             --
    Investment income                      2,128       1,814           17 %
                                         -------     -------
    Total revenues                        17,877      16,065           11 %
                                         -------     -------
Expenses:
    Losses and loss adjustment            12,157      10,110           20 %
    Policy acquisition                     3,074       3,303          (7) %
    General and administrative             1,095         898           22 %
                                         -------     -------
    Total expenses                        16,326      14,311           14 %
                                         -------     -------
Income before income taxes               $ 1,551     $ 1,754         (12) %
                                         =======     =======         =====
</TABLE>
                                                                                
Within the property/casualty sector, strong competition in treaty and
facultative lines continues to impact pricing and broaden contractual terms.  In
this marketplace the property/casualty segment increased revenues by 11% in the
first quarter of 1998 as compared to the 1997 period as business from the east
coast treaty branch, acquired from The Hanover Insurance Company in September
1997, began to be renewed into the Company's reinsurance subsidiary, USF RE.

Changes in losses and LAE between periods reflect a change in the mix of
business to a smaller proportion of property business, which carries a lower
formula loss ratio than casualty business, combined with increased reserving in
casualty lines. The decrease in policy acquisition expenses in 1998 as compared
to 1997 primarily results from the change in the mix of business.  The effect of
the new east coast treaty branch operations resulted in a 22% increase in
general and administrative expenses in the property/casualty segment for the
first quarter of 1998 as compared to the 1997 period.
<PAGE>
 
Holding Company
---------------
(Dollars in thousands)
<TABLE>
<CAPTION>
                                                  Quarter ended    
                                                     March 31      
                                                     --------
                                          1998          1997      % Change      
                                         ------        ------     --------     
<S>                                      <C>           <C>        <C>           
Revenues:                                                                       
    Investment income                     $  24         $  12       100 %       
    Realized gains                          641           177       262 %       
                                          -----         -----                   
    Total revenues                          665           189       252 %       
                                          -----         -----                   
Expenses:                                                                       
    General and administrative              261           217        20 %       
    Interest                                556           614        (9)%       
                                          -----         -----                   
    Total expenses                          817           831        (2)%       
                                          -----         -----                   
Loss before income taxes                  $(152)        $(642)       76 %       
                                          =====         =====    
</TABLE>

Changes in realized gains in the 1998 period as compared to the 1997 period
arise from the continuous evaluation of the investment portfolio to enhance and
maintain yields and total return consistent with the Company's investment
guidelines. Increases in general and administrative expenses resulted from
higher infrastructure costs in the 1998 quarter to support the growth of the
Company's business operations.  Declines in interest expense in the 1998 period
reflect quarterly reduction in the outstanding balance of bank debt under the
Company's Credit Agreement, principal payments on which commenced in March 1997,
and changes in the variable interest rate charged on the outstanding balance.


Inflation
---------

The healthcare marketplace has long been subject to the effects of increases in
costs of services. Inflation in the costs of healthcare tends to generate
increases in premiums for medical lines coverage, resulting in greater revenues.
Inflation can also negatively impact insurance and reinsurance operations by
causing higher claims settlements than may have originally been estimated, while
not necessarily allowing an immediate increase in premiums to a level necessary
to maintain profit margins.  Historically the Company has made no explicit
provisions for inflation, but economic trends are considered when setting
underwriting terms and claim reserves.  Such reserves are subjected to a
continual internal and external review processes to assess their adequacy and
are adjusted as deemed appropriate.  Overall economic trends also affect
interest rates, which in turn affect investment income and the market value of
the Company's investment portfolio.

                                       12
<PAGE>
 
Liquidity and Capital Resources
-------------------------------

Primary sources of cash from operations include premium collections, investment
income and commissions and fees.  The principal uses of cash from operations are
for premium payments to insurance companies, payments of claims under USF RE's
and USFIC's reinsurance and insurance contracts, debt reduction, and operating
expenses such as salaries, commissions, taxes and general overhead. The
Company's Credit Agreement contains certain covenants, restrictions and dividend
payment limitations with which the Company was in compliance at March 31, 1998.

The Company anticipates that it will continue to generate sufficient cash flow
from operations to cover its short-term (1-18 months) and long-term (18 months
to 3 years) liquidity needs.  While the Company currently has no immediate plans
for significant capital outlays, from time to time it contemplates acquisition
opportunities that complement its business operations.

The Company's investment portfolio reflects a current allocation of
approximately 92% in fixed-income investments, both taxable and tax free, with
an "AA" average fixed income portfolio rating, and 8% in equities.  The
portfolio is not exposed to real estate investments, derivatives, high yield
bonds, private placements or mortgage loans.  All such securities are carried at
quoted market values at the latest balance sheet date.


Year 2000
---------

As the year 2000 approaches, the Company recognizes the need to ensure that its
operations will not be adversely affected by year 2000 computer software issues.
The Company has a formal plan in place to evaluate and implement solutions to
year 2000 computer software issues.  The evaluation phase of the plan, which was
completed in December 1997, included an analysis of the Company's software
systems, identification of software enhancements required to address year 2000
issues and identification of vendors and business partners that may impact
Company operations.  The Company's significant operational and financial
software systems are provided by third party vendors who the Company has
confirmed have also been focusing on addressing year 2000 issues.  Presently,
the Company has commenced upgrading its software products and expects to
complete this phase of its plan, including testing year 2000 changes, during
1998.  The cost of the year 2000 remediation plan is not considered material to
the Company's financial position.  The Company will continue to make investments
in its software systems to ensure year 2000 compliance for all its business
processing systems.

                                       13
<PAGE>
 
Forward Looking Statements
--------------------------

Some of the statements included within this quarterly report on Form 10-Q,
including, but not limited to, Management's Discussion and Analysis of Financial
Condition and Results of Operations and the Consolidated Financial Statements
and related Notes may be considered to be forward looking statements (as that
term is defined in the Private Securities Litigation Reform Act of 1995), and
which are subject to certain risks and uncertainties.  Among those factors which
could cause the actual results to differ materially from those suggested by such
statements are:  catastrophe losses in the Company's insurance lines or a
material aggregation of losses; changes in federal or state law affecting an
employer's ability to self-insure; availability of adequate retrocessional
insurance coverage at appropriate prices; a downturn in the general economy; the
effects of competitive market pressures within the medical lines or
property/casualty marketplaces; the effect of changes required by generally
accepted accounting practices or statutory accounting practices; and other risks
which are described from time to time in the Company's filings with the
Securities and Exchange Commission.  The words "believes", "anticipates",
"expects" and similar expressions are intended to identify forward looking
statements.

                                       14
<PAGE>
 
                           PART II OTHER INFORMATION

Item 6.  EXHIBITS and REPORTS ON FORM 8-K.

     (a)  The following is a list of exhibits required to be filed as part of
          this Form 10-Q by Item 601 of Regulation S-K:

       3.1, 4.1  The Company's Restated Certificate of Incorporation, as
                 amended, as presently in effect.  Filed as Exhibits 3.1 and 4.1
                 to the Company's Annual Report on Form 10-K for the year ended
                 December 31, 1997, and incorporated herein by this reference.

       3.2, 4.2  The Bylaws of the Company, as amended, as presently in effect.
                 Filed as Exhibits 3.2 and 4.2 to the Company's Annual Report on
                 Form 10-K for the year ended December 31, 1997, and
                 incorporated herein by this reference.

            4.3  Stock Certificate of the Company.  Filed as Exhibit 4.3 to the
                 Company's Quarterly report on Form 10-Q for the quarter ended
                 June 30, 1997, and incorporated herein by this reference.

            4.4  Rights Agreement.  Filed as Exhibit 2 to the Company's Current
                 Report on Form 8-K dated May 24, 1990, and incorporated herein
                 by this reference.

            4.5  First Amendment to Rights Agreement.  Filed as Exhibit 1 to the
                 Company's Current Report on Form 8-K dated January 16, 1992,
                 and incorporated herein by this reference.

            4.6  Second Amendment to Rights Agreement.  Filed as Exhibit 10.1 to
                 the Company's Current Report on Form 8-K dated April 29, 1994,
                 and incorporated herein by this reference.

            4.7  Third Amendment to Rights Agreement.  Filed as Exhibit 4 to the
                 Company's Current Report on Form 8-K dated September 28, 1995,
                 and incorporated herein by this reference.

            4.8  Fourth Amendment to Rights Agreement. Filed as Exhibit 1 to the
                 Company's Current Report on Form 8-K dated July 23, 1997, and
                 incorporated herein by this reference.

            4.9  Fifth Amendment to Rights Agreement.  Filed as Exhibit 1 to the
                 Company's Current Report on Form 8-K dated January 28, 1998,
                 and incorporated herein by this reference.

                                       15
<PAGE>
 
        10.1(i)*  Amendment No. 2 to Agreement of Employment, including
                  relocation loan arrangement, between the Company and David L.
                  Cargile.

     10.5(xiii)*  Amendment No. 2 dated March 1, 1998 to Severance Agreement
                  between the Company and Edward D. Jones, III.

             11*  The Centris Group, Inc. and Subsidiaries Computation of
                  Earnings Per Share.

             15*  Independent Auditors' letter regarding unaudited interim
                  financial information.
  
             27*  Financial Data Schedules

(b)  The following reports on Form 8-K were filed by the Company during the
     quarter ended March 31, 1998:
 
         1. Fifth Amendment to Rights Agreement, dated January 28,1998 and filed
            with the Securities and Exchange Commission February 6, 1998.

         2. Description of Stock Split effected in the form of a 100% stock
            dividend, dated February 5, 1998 and filed with the Securities and
            Exchange Commission February 6, 1998.


*  Describes the exhibits filed with this Quarterly Report on Form 10-Q.

                                       16
<PAGE>
 
                                   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.

                            The Centris Group, Inc.



Date:  May 12, 1997         By: /s/ DAVID L. CARGILE
                                ----------------------------------------------
                                    DAVID L. CARGILE
                                    Chairman of the Board, President and Chief
                                    Executive Officer



Date:  May 12, 1997         By: /s/ CHARLES M. CAPORALE
                                ----------------------------------------------
                                    CHARLES M. CAPORALE
                                    Senior Vice President, Chief Financial
                                    Officer and Treasurer (Principal Financial
                                    and Accounting Officer)

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