UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549-1004

                                    FORM 10-Q

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, 2003

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

            For the transition period from _________ to ____________



                        Commission File Number: 0-29042

                        SYMONS INTERNATIONAL GROUP, INC.
             (Exact name of registrant as specified in its charter)



INDIANA                                                               35-1707115
(State  or  other  jurisdiction  of                            (I.R.S.  Employer
incorporation  or  organization)                            Identification  No.)


                              4720 Kingsway Drive
                          Indianapolis, Indiana 46205
                    (Address of Principal Executive Offices)
       Registrant's telephone number, including area code: (317) 259-6300


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  [  ]

Indicate  by  check  mark  whether  the  registrant  is an accelerated filer (as
defined  in  Rule  12b-2  of  the  Exchange  Act).            Yes  [  ]  No  [X]


The  number  of  shares  of  common  stock of the Registrant, without par value,
outstanding  as  of  June  30,  2003 was  10,385,399.


<PAGE>


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                                                     FORM 10-Q INDEX

                                                                                            Page
                                                                                           Number
<S>                          <C>                                                            <C>
PART I    FINANCIAL INFORMATION

Item 1    Financial Statements

          Consolidated Balance Sheets at March 31, 2003
          (unaudited) and December 31, 2002                                                     3

          Unaudited Consolidated Statements of Operations
          for the Three Months Ended  March 31, 2003 and 2002                                   4

          Unaudited Consolidated Statements of Cash Flows for the
          Three Months Ended March 31, 2003 and 2002                                            5

          Condensed Notes to Unaudited Consolidated Financial
          Statements . . . . . . . . .                                                          6

Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations                                                   13

Item 3.   Quantitative and Qualitative Disclosures about Market Risk                            18

PART II   OTHER INFORMATION                                                                     18

Item 1  . Legal Proceedings                                                                     18

Item 2.   Changes in Securities and Use of Proceeds                                             20

Item 3.   Defaults Upon Senior Securities                                                       20

Item 4.   Submission of Matters to a Vote of Security Holders                                   20

Item 5.   Other Information                                                                     20

Item 6.   Exhibits and Reports on Form 8-K                                                      20

SIGNATURES                                                                                      21

CERTIFICATION                                                                                   22
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<TABLE>
<CAPTION>

PART  I  -  FINANCIAL  INFORMATION
ITEM  1.  FINANCIAL  STATEMENTS
SYMONS  INTERNATIONAL  GROUP,  INC.
CONSOLIDATED  BALANCE  SHEETS
(dollars  in  thousands)
                                                                         March 31,
                                                                           2003       December 31,
                                                                        (Unaudited)       2002
                                                                        ------------  ----------
<S>                                                                          <C>          <C>
ASSETS
Investments available for sale:
  Fixed maturities, at market . . . . . . . . . . . . . . . . . . . .  $   26,479   $      36,728
  Equity securities, at market. . . . . . . . . . . . . . . . . . . .       4,802           6,404
  Short-term investments, at amortized cost,
   which approximates market.                                               8,182           8,495
  Other invested assets . . . . . . . . . . . . . . . . . . . . . . .       2,977           3,046
                                                                       -----------  --------------
Total investments . . . . . . . . . . . . . . . . . . . . . . . . .        42,440          54,673
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . .         2,096             654
Receivables, net of allowance of $677 and $244, respectively. . . .        28,887          26,594
Reinsurance recoverable on paid and unpaid losses . . . . . . . . . .      27,344          25,918
Prepaid insurance premiums. . . . . . . . . . . . . . . . . . . . .        28,292          25,470
Property and equipment, net of accumulated depreciation . . . . . .         6,333           7,069
Deferred securities issuance costs. . . . . . . . . . . . . . . . .         4,161           4,204
Other assets. . . . . . . . . . . . . . . . . . . . . . . . . . . .         2,464           3,490
                                                                       -----------  --------------
Total Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $  142,017   $     148,072
                                                                       ===========  ==============

LIABILITIES AND SHAREHOLDERS' (DEFICIT)
Liabilities:
  Loss and loss adjustment expense reserves . . . . . . . . . . . . .  $   63,589   $      67,204
  Unearned premiums . . . . . . . . . . . . . . . . . . . . . . . . .      39,298          35,797
  Reinsurance payables. . . . . . . . . . . . . . . . . . . . . . . .      12,502          17,171
  Distributions payable on preferred securities . . . . . . . . . . .      53,364          49,227
  Deferred income . . . . . . . . . . . . . . . . . . . . . . . . . .       1,750           2,125
  Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . .      15,276          13,827
  Advance from related parties. . . . . . . . . . . . . . . . . . . .       1,870           2,687
  Net liabilities of discontinued operations. . . . . . . . . . . . .       4,151           3,913
                                                                       -----------  --------------
Total Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . .     191,800         191,951
                                                                       -----------  --------------
Minority interest:
  Company-obligated mandatorily redeemable preferred stock of trust
   subsidiary holding solely parent debentures . . . . . . .. . . . .     135,000         135,000
                                                                       -----------  --------------
Shareholders' deficit:
  Common stock, no par value, 100,000,000 shares authorized,
   10,385,399 shares issued and outstanding in both 2003 and 2002. .       38,136          38,136
  Additional paid-in capital. . . . . . . . . . . . . . . . . . . . .       5,851           5,851
  Unrealized loss on investments available for sale . . . . . . . . .      (3,117)         (2,220)
  Retained deficit. . . . . . . . . . . . . . . . . . . . . . . . . .    (225,653)       (220,646)
                                                                       -----------  --------------
Total Shareholders' deficit . . . . . . . . . . . . . . . . . . . . .    (184,783)       (178,879)
                                                                       -----------  --------------
Total Liabilities and Shareholders' deficit . . . . . . . . . . . . .  $  142,017   $     148,072
                                                                       ===========  ==============
<FN>

See  condensed  notes  to  consolidated  financial  statements.
</TABLE>


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<TABLE>
<CAPTION>

SYMONS  INTERNATIONAL  GROUP,  INC.
UNAUDITED  CONSOLIDATED  STATEMENTS  OF  OPERATIONS
(in  thousands,  except  per  share  data)
                                                                                    Three Months Ended
                                                                                          March 31
                                                                                    2003            2002
                                                                            --------------------  ---------
<S>                                                                         <C>                     <C>
Gross premiums written . . . . . . . . . . . . . . . . . . . . . . . . . .  $            27,890   $ 43,755
Less ceded premiums. . . . . . . . . . . . . . . . . . . . . . . . . . . .              (20,949)   (30,973)
                                                                            --------------------  ---------
Net premiums written . . . . . . . . . . . . . . . . . . . . . . . . . . .  $             6,941   $ 12,782
                                                                            ====================  =========
Net premiums earned. . . . . . . . . . . . . . . . . . . . . . . . . . . .  $             6,134   $ 11,766
Fee income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                2,536      2,643
Other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  375        375
Net investment income. . . . . . . . . . . . . . . . . . . . . . . . . . .                  282      1,244
Net realized capital gain (loss) . . . . . . . . . . . . . . . . . . . . .                  245       (748)
                                                                            --------------------  ---------
Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                9,572     15,280
                                                                            --------------------  ---------
Expenses:
  Losses and loss adjustment expenses. . . . . . . . . . . . . . . . . . .                5,527     12,671
  Policy acquisition and general and administrative expenses . . . . . . .                4,830      6,459
  Interest expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . .                   42          -
  Amortization of deferred financing costs . . . . . . . . . . . . . . . .                   43         43
                                                                            --------------------  ---------
Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .               10,442     19,173
                                                                            --------------------  ---------
Loss from continuing operations before income taxes and minority interest.                 (870)    (3,893)
                                                                            --------------------  ---------
Total income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . .                    -          -
                                                                            --------------------  ---------
Loss from continuing operations before minority interest . . . . . . . . .                 (870)    (3,893)
                                                                            --------------------  ---------
Minority interest:

  Distributions on preferred securities, net of tax of nil in. . . . . . .
 .  both 2003 and 2002.                                                                   4,137      3,836
                                                                                       ----------   ------
Loss from continuing operations. . . . . . . . . . . . . . . . . . . . . .               (5,007)    (7,729)

Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $            (5,007)  $ (7,729)
                                                                            ====================  =========
Weighted average shares outstanding - basic and fully diluted. . . . . . .               10,385     10,385
                                                                            ====================  =========
Net loss from continuing operations per share - basic and fully diluted. .  $             (0.48)  $  (0.74)
                                                                            ====================  =========
Net loss of discontinued operations per share-basic and fully diluted. . .  $                 -   $      -
                                                                            ====================  =========
Net loss per share - basic and fully diluted . . . . . . . . . . . . . . .  $             (0.48)  $  (0.74)
                                                                            ====================  =========
<FN>
See  condensed  notes  to  consolidated  financial  statements.
</TABLE>



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<TABLE>
<CAPTION>

SYMONS  INTERNATIONAL  GROUP,  INC.
UNAUDITED  CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
(in  thousands)
                                                                       Three Months Ended
                                                                            March 31
                                                                     --------------------
                                                                       2003            2002
                                                               --------------------  --------
<S>                                                                   <C>              <C>
Cash flows from operating activities:
  Net loss. . . . . . . . . . . . . . . . . . . . . . . . . .  $            (5,007)  $(7,729)
   Adjustments to reconcile net loss to net cash provided
    by (used in) operations:
     Depreciation, amortization, impairment and other. . . .                   971       911
  Net realized capital (Gain) loss. . . . . . . . . . . . . .                 (245)      748
       Net changes in operating assets and liabilities:
     Receivables . . . . . . . . . . . . . . . . . . . . . .                (2,294)   (5,653)
     Reinsurance recoverable on losses, net. . . . . . . . .                (1,426)   (4,115)
     Prepaid reinsurance premiums. . . . . . . . . . . . . .                (2,822)   (3,892)
     Deferred policy acquisition costs . . . . . . . . . . .                     -      (160)
     Loss and loss adjustment expense reserves . . . . . . .                (3,616)   (3,072)
     Unearned premiums . . . . . . . . . . . . . . . . . . .                 3,501     5,046
     Reinsurance payables. . . . . . . . . . . . . . . . . .                (4,669)    5,558
     Distribution payable on preferred securities. . . . . .                 4,137     3,836
     Other assets and liabilities. . . . . . . . . . . . . .                 2,102     3,120
  Net assets / (liabilities) from discontinued operations. . .                 102    (1,327)
                                                               --------------------  --------
Net cash (used in) operations . . . . . . . . . . . . . . . .               (9,266)   (6,729)
                                                               --------------------  --------

Cash flows from investing activities, net of assets acquired:
  Net sales of short-term investments . . . . . . . . . . . . .                313     2,917
  Proceeds from sales, calls and maturities of fixed maturities             10,102     7,356
  Purchase of fixed maturities. . . . . . . . . . . . . . . . .               (409)   (4,293)
  Proceeds from sales of equity securities. . . . . . . . . . .              1,478     4,796
  Purchase of equity securities . . . . . . . . . . . . . . . .                  -      (562)
  Purchase of property and equipment. . . . . . . . . . . . . .                (85)     (121)
  Other . . . . . . . . . . . . . . . . . . . . . . . . . . . .                (10)        -
Net investing activities from discontinued operations . . . .                  136     1,434
                                                               --------------------  --------
Net cash provided by investing activities . . . . . . . . . .               11,525    11,527
                                                               --------------------  --------

Cash flows from financing activities, net of assets acquired:
  Loans from and (repayment to) related parties . . . . . . . .               (817)     (125)
  Net financing activities from discontinued operations . . . .                  -      (107)
                                                               --------------------  --------
Net cash (used in) financing activities . . . . . . . . . . .                 (817)     (232)
                                                               --------------------  --------
Increase in cash and cash equivalents . . . . . . . . . . . .                1,442     4,566
Cash and cash equivalents, beginning of period. . . . . . . .                  654     3,385
                                                               --------------------  --------
Cash and cash equivalents, end of period. . . . . . . . . . .  $             2,096   $ 7,951
                                                               ====================  ========
<FN>
See  condensed  notes  to  consolidated  financial  statements.
</TABLE>


<PAGE>
                        SYMONS INTERNATIONAL GROUP, INC.
            CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                    For the Three Months Ended March 31, 2003

1.     OVERVIEW  OF  THE  COMPANY  AND  BASIS  OF  PRESENTATION

Symons  International  Group, Inc. (the "Company") owns insurance companies that
underwrite  and  market  nonstandard private passenger automobile insurance. The
Company's  principal  insurance company subsidiaries are Pafco General Insurance
Company  ("Pafco") and Superior Insurance Company ("Superior"). The Company is a
73.8%  owned  subsidiary  of  Goran  Capital  Inc.  ("Goran").

The  parent  company  of  Pafco  and  Superior is Superior Insurance Group, Inc.
("Superior  Group").  Pafco,  Superior  and  Superior's  subsidiaries,  Superior
Guaranty Insurance Company ("Superior Guaranty") and Superior American Insurance
Company  ("Superior American"), are engaged in the writing of insurance coverage
for  automobile  physical  damage  and liability policies for nonstandard risks.
Nonstandard  risk  insureds  are  those  individuals  who  are  unable to obtain
insurance  coverage through standard market carriers due to factors such as poor
premium payment history, driving experience or violations, occupation or type of
vehicle. The Company offers several different policies that are directed towards
different  classes  of  risk  within  the  nonstandard market. Premium rates for
nonstandard  risks are higher than for standard risks. Since it can be viewed as
a  residual  market,  the  size  of the nonstandard private passenger automobile
insurance  market changes with the insurance environment and grows when standard
coverage  becomes  more  restrictive. Nonstandard policies have relatively short
policy  periods  and  low  limits  of  liability.  Also,  since  the nonstandard
automobile  insurance  business  typically  experiences lower rates of retention
than standard automobile insurance, the number of new policyholders underwritten
by  nonstandard automobile insurance carriers each year is substantially greater
than  the  number  of  new  policyholders  underwritten  by  standard  carriers.

As  previously  announced,  the  Company  sold  its crop insurance operations to
Acceptance  Insurance  Companies  Inc.  ("Acceptance") on June 6, 2001. The crop
insurance  business  was  written through the Company's wholly owned subsidiary,
IGF  Insurance  Company  ("IGF"), which is in runoff. Accordingly, the financial
statements  included  in  this  report reflect the results of the crop insurance
segment  as  "discontinued  operations".

The  financial statements included in this report are the consolidated financial
statements  of  the  Company  and  its  subsidiaries. The consolidated financial
statements  have  been  prepared  pursuant  to  the rules and regulations of the
Securities  and  Exchange  Commission  ("SEC").  In  management's opinion, these
financial  statements  include  all  adjustments  (consisting  only  of  normal,
recurring  adjustments)  necessary  for  a  fair  presentation of the results of
operations  for  the  interim  periods  presented.  Pursuant  to  SEC  rules and
regulations,  certain  information and footnote disclosures normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles  have  been  condensed  or  omitted  from  these  statements,  unless
significant  changes  have  taken  place since the end of the most recent fiscal
year.  For  this  reason, the accompanying consolidated financial statements and
notes  thereto  should  be read in conjunction with the financial statements and
notes for the year ended December 31, 2002 included in the Company's 2002 Annual
Report  on  Form  10-K.  Results  for  any  interim  period  are not necessarily
indicative  of  results  to  be  expected  for  the  year.

2.     PREFERRED  SECURITIES

On  August  12, 1997, the Company issued through a wholly owned trust subsidiary
$135 million aggregate principal amount in trust originated preferred securities
(the  "Preferred Securities").  The Preferred Securities have a term of 30 years
with  semi-annual  interest payments of $6.4 million that commenced February 15,
1998.  The  Company  may  redeem the Preferred Securities in whole or in part 10
years  after  the  issue  date.

The  Company  elected to defer the semi-annual interest payments due in February
and  August  2000,  2001, and 2002 and expects to continue this practice through
2003  and  2004.  The  payment  due  in  February 2003 was deferred.  The unpaid
interest  installment  amounts  accrue  interest  at  9.5%.

The  Company  may  continue  to defer semi-annual interest payments for up to an
aggregate  of  five  (5)  years  as permitted by the indenture for the Preferred
Securities.  All  of  the  deferred  interest (approximately $84 million, if all
payments  due  in  2003  and  2004  are deferred) will become due and payable in
February 2005 along with the semi-annual interest due at that time.  The Company
relies  on  the  payment of finance and service fees by its subsidiaries to fund
its  operations,  including its payment of interest on the Preferred Securities.
Certain  state  regulators,  including  the  Florida  Department  of  Insurance
("FDOI"),  have issued orders prohibiting the Company's subsidiaries from paying
such  fees  to the Company.  There can be no assurance that the Company will
sufficient  revenue  to fund its operations and pay the deferred interest on the
Preferred  Securities.  Such  failure to pay could result in a default under the
indenture  and  acceleration  of  the  payment  of  the  Preferred  Securities.

The  trust  indenture  contains  certain  restrictive  covenants  based upon the
Company's  consolidated  coverage  ratio  of  earnings  before  interest, taxes,
depreciation  and amortization (EBITDA). If the Company's EBITDA falls below 2.5
times  consolidated  interest  expense  (including  Preferred  Securities
distributions)  for  the  most  recent four quarters, the following restrictions
become  effective:

-    The  Company  may not incur additional indebtedness or guarantee additional
     indebtedness.
-    The Company may not make certain restricted payments including making loans
     or advances to affiliates, repurchasing common stock or paying dividends in
     excess  of  a  stated  limitation.
-    The  Company  may not increase its level of non-investment grade securities
     defined  as  equities,  mortgage  loans, real estate, real estate loans and
     non-investment  grade,  fixed  income  securities.

These restrictions currently apply, as the Company's consolidated coverage ratio
was  (0.42)  at  March  31, 2003, and will continue to apply until the Company's
consolidated  coverage ratio complies with the terms of the trust indenture. The
Company  complied with these additional restrictions as of December 31, 2001 and
2002  and  is  in  compliance  as  of  July  1,  2003.

3.     REGULATORY  ACTIONS

On  June  6,  2001,  IGF  sold substantially all of its crop insurance assets to
Acceptance.  On June 24, 2001, following the sale of IGF's crop insurance assets
and  as  a result of losses experienced by IGF in its crop insurance operations,
the  IDOI and IGF entered into a consent order (the "Consent Order") relating to
IGF.  IGF has discontinued writing new business and its operations are presently
in  run  off.  The IDOI has continued to monitor the status of IGF.  The Consent
Order  prohibits  IGF  from  taking  any  of the following actions without prior
written  consent  of  the  IDOI:

-    Sell  or  encumber  any  of  its  assets,  property,  or business in force;
-    Disburse  funds,  except to pay direct unaffiliated policyholder claims and
     normal  operating  expenses  in the ordinary course of business (which does
     not include payments to affiliates except for the reimbursement of costs of
     running  IGF  by  the  Company,  and does not include payments in excess of
     $10,000);
-    Lend  its  funds  or  make  investments,  except  in  specified  types  of
     investments;
-    Incur  debts  or  obligations, except in the ordinary course of business to
     unaffiliated  parties;
-    Merge  or  consolidate  with  another  company;
-    Enter  into  new,  or  amend  existing,  reinsurance  agreements;
-    Complete,  enter  into  or  amend  any  transaction  or arrangement with an
     affiliate,  and
-    Disburse  funds  or  assets  to  any  affiliate.

The  Consent  Order  also  requires IGF to provide the IDOI with monthly written
updates  and  immediate  notice  of  any material change regarding the status of
litigation  with  Continental  Casualty  Company,  statutory reserves, number of
non-standard automobile insurance policies in-force by state, and reports of all
non-claims  related  disbursements.  IGF's  failure  to  comply with the Consent
Order  could  cause  the  IDOI  to  begin proceedings to have a rehabilitator or
liquidator  appointed  for IGF or to extend the provisions of the Consent Order.
IGF  is  in  regular  ongoing  contact  with  the  IDOI  regarding  it financial
condition.

Pafco  has  been  subject to an agreed order of the IDOI since February 17, 2000
that  requires  Pafco,  among  other  matters,  to:

-    Refrain  from  doing  any of the following without the IDOI's prior written
     consent:
     -    Selling  assets  or business in force or transferring property, except
          in  the  ordinary  course  of  business;
     -    Disbursing  funds,  other  than  for  specified purposes or for normal
          operating  expenses and in the ordinary course of business (which does
          not include payments to affiliates, other than under written contracts
          previously  approved  by  the  IDOI,  and does not include payments in
          excess  of  $10,000);
     -    Lending  funds;
     -    Making  investments,  except  in  specified  types  of  investments;
     -    Incurring  debt,  except  in  the  ordinary  course of business and to
          unaffiliated  parties;
     -    Merging  or  consolidating  with  another  company;  or
     -    Entering  into  new,  or  modifying  existing,  reinsurance contracts.
-    Reduce  its  monthly  auto premium writings, or obtain additional statutory
     capital or surplus, such that the ratio of gross written premium to surplus
     and  net  written  premium  to  surplus  does  not  exceed  4.0  and  2.4,
     respectively;  and  provide  the  IDOI  with  regular reports demonstrating
     compliance  with  these  monthly  writings  limitations.
-    Continue  to  comply  with  prior  IDOI  agreements  and  orders to correct
     business  practices  under  which  Pafco  must  provide  monthly  financial
     statements  to  the  IDOI,  obtain  prior  IDOI  approval  of  reinsurance
     arrangements  and  affiliated  party transactions, submit business plans to
     the  IDOI  that  address  levels  of  surplus and net premiums written, and
     consult  with  the  IDOI  on  a  monthly  basis.

Pafco's  inability  or  failure to comply with any of the above conditions could
result  in  the  IDOI  requiring further reductions in Pafco's permitted premium
writings  or  in  the  IDOI  instituting  future  proceedings  against  Pafco.
Restrictions on premium writings result in lower premium volume. Management fees
payable  to  Superior Group are based on gross written premium; therefore, lower
premium  volume  results  in  reduced  management fees paid by Pafco to Superior
Group.  Pafco  is  in  regular  contact  with  the  IDOI regarding its financial
condition.

At  March  31,  2003,  Pafco's  gross written premium to surplus and net written
premium  to  surplus  exceeded  the  ratios  allowed under the agreed order. The
Company  has  reduced  written premium and will be in compliance at December 31,
2003.  Pafco has agreed with the IDOI to maintain its surplus above $2.5 million
through  August  2003.

In March 2000, Pafco agreed with the Iowa Department of Insurance ("IADOI") that
it  would  not  write  any new non-standard business in Iowa, until such time as
Pafco has reduced its overall non-standard automobile policy counts in the state
or  has:

-    Increased  surplus;  or
-    Has  achieved  a net written premium to surplus ratio of less than three to
     one;  or
-    Has  surplus  reasonable  to  its  risk.

Pafco has continued to service existing policyholders and renew policies in Iowa
and  provide  policy  count  information  on a monthly basis in conformance with
IADOI  requirements.

On  June 30, 2003 the Missouri Department of Insurance instituted proceedings to
suspend  Pafco's  certificate  of  authority  in  Missouri. Pafco had previously
stopped  writing  new  business  in Missouri and is in contact with the Missouri
Department  of  Insurance  to identify an alternative to the pending proceeding.

Superior  and  Pafco provide monthly financial information to the departments of
insurance in certain states in which they write business at the states' request.

On  July  7, 2000, the FDOI issued a notice of its intent to issue an order (the
"Notice") which principally addressed certain policy and finance fee payments by
Superior  to  Superior  Group.  A  formal  administrative  hearing to review the
Notice  and  a  determination  that  the order contemplated by the Notice not be
issued  was  held  in  February  2001.  The  administrative  law judge entered a
recommended  order on June 1, 2001 that was acceptable to the Company. On August
30,  2001,  the  FDOI  rejected the recommended order and issued its final order
which the Company believes improperly characterized billing and policy fees paid
by  Superior to Superior Group.  On September 28, 2001, Superior filed an appeal
of  the  final  order to the Florida District Court of Appeal. On March 4, 2002,
the FDOI filed a petition in the Circuit Court of the Second Judicial Circuit in
and  for  Leon  County,  Florida  seeking  court enforcement of the FDOI's final
order. Superior filed a motion with the FDOI for stay of the FDOI's final order.
Superior  also  filed a motion for stay with the District Court of Appeal, which
was  denied pending a ruling from the FDOI.  On April 5, 2002 the FDOI granted a
stay  of  the final order that was conditional upon the cessation of the payment
of  billing  fees by Superior to Superior Group and the posting of a $15 million
appeal  bond.  Superior  did  not  agree to the conditions imposed by the FDOI's
conditional  stay.  On  May  6,  2002  Superior filed a motion with the District
Court  of Appeal seeking a stay of the final order pending Superior's appeal or,
in  the  alternative,  a consolidation of the FDOI's enforcement action with the
pending appeal.  On June 19, 2002, the District Court of Appeal entered an order
which  struck the FDOI's conditional requirement for the stay that Superior post
a  $15  million  appeal  bond.  However,  the order denied Superior's request to
consolidate  the appeal with the enforcement action.  On September 26, 2002, the
District  Court  of Appeal affirmed the final order of the FDOI.  On October 31,
2002  the  Circuit Court entered a final order which granted the FDOI's petition
for  enforcement of the FDOI's final order and which requires Superior to comply
with  the  FDOI  final  order.

In  accordance  with  the FDOI's final order, Superior ceased payment of finance
and service fees as of October 1, 2002 and has requested repayment from Superior
Group of $15 million of finance and service fees paid from 1997 through 1999 and
additional finance and service fees paid thereafter in the approximate amount of
$20  million.  Without the payment of finance and service fee income to Superior
Group or an amendment to the management agreement or reallocation of operational
responsibilities,  Superior Group could not operate profitably.  Accordingly, on
October  1,  2002,  Superior  Group discontinued the provision of certain claims
services to Superior.  Superior provided a number of proposals to the FDOI in an
effort  to  establish  an acceptable repayment plan in accordance with the final
order.  None  of  the  proposals  were  acceptable  to  the  FDOI.

On  March  21,  2003  the  FDOI  filed  a  Motion for Enforcement of Final Order
Granting  Petition to Enforce Agency Action (the"Motion for Enforcement") in the
Circuit Court which seeks to hold Superior in contempt for failing to obtain the
immediate  repayment  of approximately $15 million from Superior Group. Superior
Group  presently  does not have the ability to make a $15 million repayment, and
Superior  believes  that this petition seeks to fashion a remedy not intended by
the  Circuit  Court's  November  1,  2002  order  and  contravenes the spirit of
numerous  discussion  between the FDOI and Superior to resolve the issues during
the  pendency  of  Superior's  appeal  to  the  District Court of Appeal and the
original  enforcement  action.   On May 7, 2003 a hearing was held on the Motion
for  Enforcement,  and  an  order  has  not  yet  been  issued.

On  September  10,  2002,  the FDOI filed a petition in the Circuit Court of the
Second  Judicial  Circuit  in  and for Leon County, Florida for an order to show
cause  and  notice  of automatic stay which sought the appointment of a receiver
for  the  purpose  of rehabilitation of Superior.  The court entered an order to
show  cause,  temporary injunction and notice of automatic stay on September 13,
2002  and a hearing was held on October 24, 2002. On November 1, 2002, the court
entered  an order that denied the FDOI's petition for appointment of a receiver.
On  November 8, 2002, the FDOI filed a motion for rehearing, which was denied on
December  17,  2002.

On  November  20,  2002,  the FDOI issued a notice and order to show cause which
seeks to suspend or revoke Superior's certificate of authority principally based
upon  allegations  that  Superior did not comply with the FDOI's August 30, 2001
final order during the pendency of the appeal of the order to the District Court
of  Appeal.  Superior  believes  that  it has fully and timely complied with the
final  order  and that the action brought by the FDOI is barred by res judicata.
A  formal  administrative  hearing to review the notice and a determination that
the  order or administrative action contemplated by the notice not be issued was
held  in  May  2003. A recommended order has not been issued, which the FDOI may
accept  or  reject.

The FDOI has engaged an actuary to perform a review of Superior's reserves as of
May  31,  2003.

On  October  9,  2001,  the  State Corporation Commission of Virginia ("Virginia
Commission")  issued  an  order  to  take  notice  regarding an order suspending
Superior's  license  to write business in that state.  An administrative hearing
for  a  determination  that the suspension order not be issued was held March 5,
2002.  On  May  3,  2002, the hearing examiner issued his report and recommended
that  Superior's  license not be suspended and that Superior file its risk based
capital  plans and monthly and quarterly financial information with the Virginia
Bureau  of  Insurance  ("Bureau").  On  June  19,  2002  the Virginia Commission
entered  an  order which adopted the findings of the hearing examiner, continued
the  matter  until  such time as the Bureau requests further action and requires
the  continued  monitoring of the financial condition of Superior by the Bureau.
On  October  11,  2002,  the Virginia Commission filed an administrative Rule to
Show  Cause.  A hearing was scheduled for November 18, 2002 to determine whether
Superior's  license  to  transact  insurance  business  in  Virginia  should  be
suspended.  The  Virginia  Commission  continued  the  hearing  indefinitely.
Superior has provided additional financial information to and continues to be in
contact with the Virginia Commission.  On July 10, 2003, the Virginia Commission
entered  an  order  which  directs Superior to stop writing business in Virginia
until its surplus is at least $3 million.  Although Superior's unaudited surplus
as  of  May  31,  2003  is above $3 million, the order also requires Superior to
provide  the  Virginia  Commission  with an interim audited financial statement.
Superior  anticipates  that  it  will meet the conditions set forth in the order
prior to July 31, 2003. The nonstandard automobile insurance policies written in
Virginia  by  Superior  accounted for approximately 16.0% and 14.5% of the total
gross  written  premiums  of  the Company through March 31,2003 and December 31,
2002,  respectively.

On  April  21,  2003 the Alabama Department of Insurance issued an order to show
cause  for  suspension  of Superior's certificate of authority in Alabama due to
the  decline  in  Superior's  surplus.  Superior  is  in  communication with and
providing  additional  financial  information  to  the  Alabama  Department  of
Insurance.  An  administrative  hearing  has  not  been  scheduled.  Policies of
insurance  written  in  Alabama  account  for  less  than 1% of Superior's gross
written  premiums.

Due to the losses experienced by Superior, it is in regular ongoing contact with
the  departments  of insurance of Florida, Virginia and California and insurance
regulators  in  other  states  in  which  it  writes business.  Superior closely
monitors  its  risk-based  capital  based  upon  its  financial  projections.

4.   COMMITMENTS  AND  CONTINGENCIES

Superior  is  a defendant in a case filed June 16, 2003 in the Superior Court of
Muscogee  County,  Georgia  entitled  Kenneth  P.  Chung  v.  Superior Insurance
Company.  The  case  purports  to  be  brought  on  behalf of former and current
insureds  of  Superior who presented first party physical damage coverage claims
during  the  six-year  period  preceding  June  16,  2003.  The  plaintiff seeks
recovery  of alleged diminution in vehicle value from physical damage.  Superior
believes  that  the  allegations  of wrongdoing as alleged in the complaint were
without  merit  and  intends to vigorously defend the claims brought against it.

 IGF,  which  is a wholly owned subsidiary of the Company, had been a party to a
number  of  pending  legal  proceedings  and  claims  relating  to  agricultural
production  interruption insurance policies (the "AgPI Program") which were sold
during  1998.  All  of  the  policies of insurance which were issued in the AgPI
Program  were  issued by and under the name of Mutual Service Casualty Insurance
Company  ("MSI"),  a  Minnesota corporation with its principal place of business
located  in  Arden  Hills,  Minnesota.  Sales  of this product resulted in large
underwriting  losses  by  IGF.

Approximately  $29  million  was paid through December 31, 2002 in settlement of
legal proceedings and policyholder claims related to the AgPI Program.  All AgPI
policyholder  claims  were  settled  during 2000. However, on January 12, 2001 a
case  was  filed in the Superior Court of California, County of Fresno, entitled
S&W  Seed Company, Dudley Silveira, Ric Blanchard and Darrell Silveira v. Mutual
Service  Casualty  Insurance  Company,  IGF  Insurance  Company,  and  Dibuduo &
Defendis  Insurance  Agency, Inc.; Case No. OICE CG 00137.  The case was brought
by four AgPI policyholders who had previously settled their AgPI claims pursuant
to binding settlement agreements who sought additional compensation by asserting
through  litigation  that  IGF  and  the  third party carrier paid less than the
policy  limits  they  were promised when they purchased the policy and that each
settling  policyholder  was  forced  to  accept  the  lesser amount due to their
economic  duress.  IGF filed a motion for summary judgment to dismiss the claims
in  the  plaintiff's  fourth  amended  complaint  on  the  basis  that  releases
previously executed by the plaintiffs are binding, which was granted.  The cross
claims between the selling brokers and MSI and IGF remain pending.  The trial is
scheduled  to  begin  in  August  2003.

 The  Company is a defendant in a case filed on February 23, 2000, in the United
States District Court for the Southern District of Indiana entitled Robert Winn,
et  al. v. Symons International Group, Inc., et al., Cause No. IP 00-0310-C-B/S.
Other  parties  named as defendants are Goran, three individuals who were or are
officers or directors of the Company or of Goran, PricewaterhouseCoopers LLP and
Schwartz  Levitsky  Feldman, LLP. The case purports to be brought on behalf of a
class  consisting  of  purchasers of the Company's stock or Goran's stock during
the  period  February  27,  1998,  through  and  including  November  18,  1999.
Plaintiffs  allege,  among  other  things,  that  defendants  misrepresented the
reliability  of the Company's reported financial statements, data processing and
financial reporting systems, internal controls and loss reserves in violation of
Section  10(b)  of  the Securities Exchange Act of 1934 (the "1934 Act") and SEC
Rule  10b-5  promulgated thereunder.  The individual defendants are also alleged
to  be  liable  as  "controlling  persons" under Sec.20 (a) of the 1934 Act.  As
previously  reported in the Company's September 30, 2002 Form 10-Q, the Company,
Goran  and  the  individual  defendants  entered  into  an  agreement  with  the
plaintiffs  for  settlement.  The  settlement  is  subject  to certain terms and
conditions  and  court  approval.

 The  Company  and  two  of  its  subsidiaries,  IGFH and IGF, were parties to a
"Strategic  Alliance  Agreement"  dated  February  28,  1998  (the  "SAA")  with
Continental  Casualty  Company  ("CNA"),  pursuant to which IGF acquired certain
crop insurance operations of CNA.  The obligations of the Company, IGFH, IGF and
CNA under the SAA are the subject of an action filed on June 4, 2001 and pending
in  United  States  District  Court  for  the  Southern  District  of  Indiana,
Indianapolis  Division.  Claims  have  also  been asserted in the action against
Goran,  Granite  Re,  Pafco,  Superior and certain members of the Symons family.
Discovery  is proceeding.  Although the Company continues to believe that it has
claims  against  CNA  and  defenses  to  CNA's claims which may offset or reduce
amounts owing by the Company or its affiliates to CNA, there can be no assurance
that  the  ultimate resolution of the claims asserted by CNA against the Company
and  its  affiliates  will not have a material adverse effect upon the Company's
and  its  affiliates'  financial  condition  or  results  of  operations.

Superior  was  a  defendant  in a case filed on May 8, 2001 in the United States
District  Court  Southern  District of Florida entitled The Chiropractic Centre,
Inc.  v. Superior Insurance Company, Case No. 01-6782.  The case purported to be
brought  on behalf of a class consisting of healthcare providers improperly paid
discounted  rates  on  services  to  patients  based  upon  a preferred provider
contract  with  a  third  party.  The plaintiff alleged that Superior breached a
third  party  beneficiary  contract, committed fraud and engaged in racketeering
activity  in  violation of federal and Florida law by obtaining discounted rates
offered  by  a  third  party  with  whom  the plaintiff contracted directly.  On
September 30, 2002, the court issued an administrative order which dismissed the
case.  The court's order administratively closing the case could be temporary or
permanent.  Superior  believes  that the allegations of wrongdoing as alleged in
the  complaint  were  without  merit  and  in  the event the order is temporary,
Superior  intends  to  vigorously  defend  the  claims  brought  against  it.

IGF  is a defendant in a case filed on December 31, 2002 in the Circuit Court of
Greene County, Missouri entitled Kevin L. Stevens v. Wilkerson Insurers, et al.,
Case  No.  102CC5135.  Other  parties  named  as  defendants  are Goran, Goran's
subsidiaries,  Symons  International  Group  (Florida),  Inc.  and  Granite  Re,
Superior Group Management, Superior, Superior American, Superior Guaranty, Pafco
and  three  individuals  who  were  or are officers or directors of the Company.
Goran,  Granite  Re,  Symons  International Group (Florida), Inc, Superior Group
Management,  Superior,  Superior  American,  Superior  Guaranty  and  certain
individual defendants filed motions to dismiss for lack of personal jurisdiction
which  were  denied. The case purports to be brought on behalf of an IGF insured
seeking  to recover alleged damages based on allegations of bad faith, negligent
claims  handling  and  breach  of fiduciary duties with respect to a claim which
arose  from  an  accident  caused  by  the  IGF  insured.  IGF believes that the
allegations  of  wrongdoing  as  alleged  in the complaint are without merit and
intends  to  vigorously  defend  the  claims  brought  against  it.

See  footnote  3,  "Regulatory Actions", to the Company's consolidated financial
statements  in  Part  I  of  this  report, incorporated herein by reference, for
additional  legal  matters.

The  Company's insurance subsidiaries are parties to other litigation arising in
the  ordinary  course of business which the Company does not believe will have a
material  adverse  effect  upon  the  Company's  and  its  affiliates  financial
conditions  or results.   The Company, through its claims reserves, reserves for
both  the  amount  of  estimated  damages attributable to these lawsuits and the
estimate  costs  of  litigation.


5.     LOSS  PER  SHARE
<TABLE>
<CAPTION>

Basic  and  diluted  net  loss  per  share  are computed by dividing net loss as
reported  by  the  average  number  of  shares  outstanding  as  follows:

                                               Three Months Ended
                                                    March 31
                                               ------------------
(in thousands)                                        2003          2002
                                               ------------------  ------
<S>                                            <C>                 <C>
Basic:
  Weighted-average common shares outstanding.              10,385  10,385
                                               ==================  ======

Diluted:
  Weighted-average common shares outstanding.              10,385  10,385
                                               ==================  ======
<FN>

The  Company  has 912,777 stock options outstanding as of March 31, 2003. Common
stock  equivalents are anti-dilutive; therefore, fully diluted loss per share is
the  same  as  basic  loss  per  share.
</TABLE>

6.     STOCK-BASED  COMPENSATION

The  Company  accounts for stock-based employee compensation using the intrinsic
value  method  under APB Opinion 25, "Accounting for Stock Issued to Employees,"
and  related  interpretations  as  permitted  under  SFAS  148,  "Accounting for
Stock-Based  Compensation - Transition and Disclosure" ("SFAS 148"). Accordingly
no  compensation  expense  is  recognized  if the market price of the underlying
stock  does  not  exceed  the  exercise  price  at  the  date  of  grant.

If  the  Company  had applied the fair value recognition provisions of SFAS 123,
"Accounting  for Stock-Based Compensation," to stock-based employee compensation
and  non-employee director compensation, the effect on net loss and net loss per
share  attributable  to  common  stockholders  would not be materially affected


<PAGE>
ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF  OPERATIONS

FORWARD  LOOKING  STATEMENTS  AND  CERTAIN  RISKS

All  statements, trend analyses, and other information herein contained relative
to  markets for the Company's products and/or trends in the Company's operations
or  financial  results,  as  well  as  other  statements including words such as
"anticipate,"  "could,"  "feel(s),"  "believes,"  "plan,"  "estimate," "expect,"
"should,"  "intend,"  "will,"  and  other  similar  expressions,  constitute
forward-looking statements under the Private Securities Litigation Reform Act of
1995.  These  forward-looking statements are subject to known and unknown risks,
uncertainties  and other factors which may cause actual results to be materially
different  from  those  contemplated  by  the  forward-looking statements.  Such
factors  include,  among  other  things:  (i)  the  effect on customers, agents,
employees and others due to the Company's receipt of going concern opinions from
its accountants; (ii) general economic conditions, including prevailing interest
rate  levels and stock market performance; (iii) factors affecting the Company's
nonstandard  automobile  operations  such  as  rate  increase  approval,  policy
renewals,  new  business  written  and  premium  volume;  and  (iv)  the factors
described  in  this  section  and  elsewhere  in  this  report.

OVERVIEW  OF  THE  COMPANY

Symons  International  Group, Inc. (the "Company") owns insurance companies that
underwrite  and  market nonstandard private passenger automobile insurance.  The
Company's  principal  insurance company subsidiaries are Pafco General Insurance
Company  ("Pafco"),  Superior  Insurance  Company ("Superior") and IGF Insurance
Company  ("IGF").  The Company is a 73.8% owned subsidiary of Goran Capital Inc.
("Goran").

The  Company's  accountants  have  issued  reports  on  their  audits  of  the
Consolidated  Financial  Statements  of  the Company as of December 31, 2001 and
December 31, 2002 which address doubt as to the Company's ability to continue as
a  going concern given the recurring operating losses experienced by the Company
over  the  past  few  years  and  the  Company's  net  capital  deficiency.

In  June 2001, the Company sold its crop segment and adopted a plan to wind-down
the  remaining  crop segment obligations.  Accordingly, financial results of the
crop insurance segment are presented as discontinued operations in the Company's
financial statements. Continuing operations of the Company consist of the single
nonstandard  automobile  insurance  segment.

Pafco,  Superior, Superior Guaranty Insurance Company ("Superior Guaranty"), and
Superior  American  Insurance  Company  ("Superior American") are engaged in the
writing  of  insurance  coverage  for  automobile  physical damage and liability
policies for nonstandard risks.  Nonstandard risk insureds are those individuals
who are unable to obtain insurance coverage through standard market carriers due
to  factors  such  as  poor  premium  payment  history,  driving  experience  or
violations,  particular  occupation  or  type  of  vehicle.  The  Company offers
several  different  policies that are directed towards different classes of risk
within  the  nonstandard market.  Premium rates for nonstandard risks are higher
than  for standard risks.  Since it can be viewed as a residual markets the size
of  the  nonstandard  private passenger automobile insurance market changes with
the  insurance  environment  and  grows  when the standard coverage becomes more
restrictive.  Nonstandard  policies have relatively short policy periods and low
limits  of  liability. Also, since the nonstandard automobile insurance business
typically  experiences  lower  rates  of  retention  than  standard  automobile
insurance,  the  number  of  new  policyholders  underwritten  by  nonstandard
automobile insurance carriers each year is substantially greater than the number
of  new  policyholders  underwritten  by  standard  carriers.

SIGNIFICANT  LOSSES  HAVE  BEEN  REPORTED  AND  ARE  LIKELY  TO  CONTINUE

The Company has reported net losses on a quarterly basis since the third quarter
of  1998.  Net losses from continuing operations for the quarter ended March 31,
2003 totaled $(5,007,000) compared to losses of $(7,729,000) for the same period
in  2002.  The  Company previously reported losses from continuing operations of
$(35,260,000)  for  the  year  2002
$(30,736,000)  for  2001  and  $(71,384,000)  for 2000.  Results from continuing
operations  before the effects of income taxes and minority interest were losses
of $(19,236,000) and $(15,930,000) for 2002 and 2001, respectively.  Losses from
continuing  operations  increased  in  2002 from 2001 due to significant adverse
development  on  new  business generated in the first quarter of 2002, primarily
due  to  increased  frequency  of losses. The Company's losses continued for the
period  ending  March  31,2003;  however,  the Company continues to work towards
operational  improvements.  The  financial  condition of the company's insurance
subsidiaries'  continues  to  be  of concern to the insurance regulators and has
resulted  in  heightend  regulatory oversight.  Although the Company has taken a
number  of  actions  to address factors contributing to these past losses, there
can  be  no  assurance  that  operating  losses  will  not  continue.

RECENT  AND FURTHER REGULATORY ACTIONS MAY ADVERSELY AFFECT THE COMPANY'S FUTURE
OPERATIONS

The  Company's  insurance  company  subsidiaries, their business operations, and
their  transactions  with  affiliates,  including  the  Company,  are subject to
extensive  regulation  and  oversight  by  the  IDOI, the FDOI and the insurance
regulators  of  other  states  in which the insurance company subsidiaries write
business.  Moreover,  the  insurance  company subsidiaries' financial condition,
losses,  adverse trends and uncertainties discussed in this report have been and
continue  to  be  matters  of  concern  to  the  domiciliary and other insurance
regulators  of the Company's insurance company subsidiaries and have resulted in
significant  and  ongoing  scrutiny  and regulatory action by several regulators
(see  Note  3,  "Regulatory  Actions" in the Condensed Notes to the Consolidated
Financial  Statements).  The  primary  purpose  of  insurance  regulation is the
protection  of  policyholders  rather  than shareholders. Failure to improve the
insurance  subsidiaries'  financial  conditions and resolve issues with the IDOI
and the FDOI, and with other regulators, in a manner satisfactory to the Company
could impair the Company's ability to execute its business strategy or result in
future  regulatory  actions  or  proceedings that could otherwise materially and
adversely  affect  the  Company's  operations.

THE  COMPANY  IS  SUBJECT  TO  A  NUMBER  OF  PENDING  LEGAL  PROCEEDINGS

As  discussed  elsewhere  in this report, the Company is involved in a number of
pending legal proceedings  (see Part II - Item 1, "Legal Proceedings"). Although
the  Company  believes  that  many  of the allegations of wrongdoing are without
merit  and intends to vigorously defend the claims brought against it, there can
be no assurance that such proceedings will not have a material adverse effect on
the  Company's  financial  position  or  results of operations. Furthermore, the
existence  of  these  lawsuits  diverts the time and attention of management and
they  are  expensive  to  defend,  whether  or  not  the  Company  is ultimately
successful.

THE  TERMS  OF THE TRUST PREFERRED SECURITIES MAY RESTRICT THE COMPANY'S ABILITY
TO  ACT

The  Company  has  issued  through  a wholly owned trust subsidiary $135 million
aggregate  principal amount in trust originated preferred securities ("Preferred
Securities").  The  Preferred  Securities  have  a  term of 30 years with annual
interest at 9.5% paid semi-annually. The obligations of the Preferred Securities
are  funded  from  the  Company's  nonstandard  automobile  insurance management
company.  The  Company elected to defer the semi-annual interest payments due in
February and August 2000, 2001 and 2002 and the payment due in February 2003 and
may  continue  to  defer  such  payments for up to an aggregate of five years as
permitted  by  the  indenture  for the Preferred Securities. All of the deferred
interest  (if  all payments due in 2003, and 2004 are deferred) of approximately
$84  million  will  become  due  and  payable  in  February  2005 along with the
semi-annual interest payment due at that time. In the event the Company does not
have  sufficient funds to pay the deferred interest on the Preferred Securities,
it  could  result  in  default  under  the  indenture and an acceleration of the
payment  of the Preferred Securities. Although there is no present default under
the indenture that would accelerate the payment of the Preferred Securities, the
indenture contains a number of covenants that may restrict the Company's ability
to  act  in  the  future.  These covenants include restrictions on the Company's
ability  to  incur or guarantee debt, make payment to affiliates, repurchase its
common  stock,  pay  dividends  on common stock or increase its level of certain
investments  other  than investment-grade, fixed-income securities. There can be
no assurance that compliance with these restrictions and other provisions of the
indenture  for  the Preferred Securities will not adversely affect the cash flow
of  the  Company.

REVIEW  OF  CONSOLIDATED  OPERATIONS

NET  LOSS

The  net  loss for the three months ended March 31, 2003 totaled $(5,007,000) or
$(.48)  per  share (basic and diluted). This is an improvement of  $2,722,000 or
$0.26  per  share  from the net loss for the same period in 2002.  The decreased
net  loss  is due primarily to a reduction in loss and loss adjustment expenses.
There  was  no  loss on discontinued operations for the three months ended March
31,  2003  and  2002,  respectively.
GROSS  PREMIUMS  WRITTEN

Gross premiums written decreased 36.3% for the three months ended March 31, 2003
compared  to the three months ended March 31, 2002. The primary reasons for this
decline  in volume are the withdrawal from certain competitive markets and other
underwriting  initiatives  intended  to  increase  profitability.

NET  PREMIUMS  WRITTEN

Net  premiums  written represent the portion of premiums retained by the Company
after  consideration for risk sharing through reinsurance contracts. As a result
of  losses  in the Company's insurance subsidiaries and the corresponding growth
in  the  Company's  retained  deficit  and to manage overall risk retention, the
Company  entered  into  a  reinsurance  agreement to cede a portion of its gross
written  premiums to National Union Fire Insurance Company of Pittsburgh, PA, an
unrelated  third  party.  For the three months ended March 31, 2003, the Company
ceded  approximately  75%  of  its  gross  written  premiums.

NET  PREMIUMS  EARNED

Net  premiums  earned  decreased 47.9% or $5,632,000 for the quarter ended March
31,  2003  as  compared  to the same period in 2002. Premiums are earned ratably
over  the  term  of  the underlying insurance contracts and the reduction in net
premiums  earned is a result of the decreases in written premium and policies in
force.

FEE  INCOME

Fee  income  is derived from installment billings and other services provided to
policyholders.  In  the  first  quarter  of  2003,  fee income was 4.1% lower as
compared  to  the  same period in 2002 and was higher as a percentage of written
premiums  due  to  increased  fees  per  policy.

NET  INVESTMENT  INCOME

Net  investment income decreased 77.3% for the three months ended March 31, 2003
as  compared  to  the  same  period  in 2002. This decrease is reflective of the
decline  in  invested  assets  during  a  period  of  declining premiums and the
liquidation  of  investments  to  pay  prior  year  losses  settled  in  2002.

NET  REALIZED  CAPITAL  (LOSSES)

Net  realized  capital  gains  were  $245,000  for  the first quarter of 2003 as
compared  to  net  realized capital losses of  $(748,000) for the same period in
2002.  Capital  gains  resulted  from the shift in management investing approach
toward  a secure and less risky bond market. In the first quarter of 2003, fixed
maturities  investment  portfolio  returned  a  positive yield as opposed to the
highly  volatile  stock  market.  These  transactions  resulted  in  higher cash
proceeds  that  were  reinvested  in  shorter  duration  investment instruments.

LOSSES  AND  LOSS  ADJUSTMENT  EXPENSES

The  loss and loss adjustment expense ratio for the Company for the three months
ended  March 31, 2003 was 90.1% of net premiums earned as compared to 107.7% for
first  quarter  2002  and  to  127.9%  for  the  entire  year  of  2002.
POLICY  ACQUISITION  AND  GENERAL  AND  ADMINISTRATIVE  EXPENSE

Policy  acquisition  and  general  and administrative expenses decreased for the
first  quarter  of  2003  to  $4,830,000 from  $6,459,000 for the same period in
2002,  a  decrease  of  approximately  25%.  This  decrease is reflective of the
decline  in gross written premiums, an increase in ceding commissions associated
with  the  quota  share  reinsurance  contract,  and  overall  operating expense
reduction  initiatives.
INCOME  TAXES

At  March  31, 2003, the Company's net deferred tax assets are fully offset by a
100%  valuation  allowance that resulted in no tax benefit in the first quarters
of  both  2002  and  2001.

REVIEW  OF  CONSOLIDATED  FINANCIAL  POSITION

CASH  AND  INVESTMENTS

Total  cash  and  investments  at March 31, 2003 and December 31, 2002 was $44.5
million and $55.3 million, respectively. The decline in invested assets resulted
from  continued  liquidations  to  fund claim payments and operating expenses as
well  as  the  portfolio  rebalancing  mentioned  above.  Refer to "Net Realized
Capital (Losses)" above for a discussion of other changes in cash and investment
balances.

REINSURANCE  RECEIVABLES  AND  PAYABLES

The  Company  negotiated  a  third-party  quota share reinsurance agreement that
became  effective January 1, 2000.  Under the quota share agreement, the Company
may  cede a portion of its nonstandard automobile insurance premiums and related
losses  based  on a variable percentage of up to 75% of Superior's and up to 75%
of  Pafco's  earned  premiums.  The  Company's  ceding  percentage for the first
quarter  of 2003 totaled 75% for Superior and 60% for Pafco. The decrease in the
amount  of  premiums and losses ceded under this contract along with settlements
to  the reinsurers's directly affect reinsurance balances due and payable on the
face  of  the  financial  statements.

RECEIVABLES

Receivables, exclusive of the allowance for doubtful accounts, have increased by
approximately  $2.3  million,  or 8.6%, from December 31, 2002. This increase is
primarily attributable to an increase in billable premiums due to higher written
premiums  in  the  first  quarter of 2003 versus the fourth quarter of 2002. The
allowance  for  doubtful  accounts was increased in the first quarter of 2003 by
approximately  $433,000.

LOSS  AND  LOSS  ADJUSTMENT  EXPENSE  RESERVES

Total loss and loss adjustment expense reserves decreased from $67,204,000 as of
December  31,  2002  to  $63,589,000  as  of  March  31,  2003,  a  reduction of
approximately  $3.6  million.  This  decrease  is  consistent with the Company's
declining  volume  of  business.

UNEARNED  PREMIUMS

At March 31, 2003, unearned premiums were $39,298,000, an increase of $3,501,000
from  December  31,  2002.  This  is consistent with the increase in receivables
discussed  above.

DEFERRED  INCOME

In connection with the sale of the crop insurance book of business to Acceptance
on June 6, 2001, the Company received a payment of $4.5 million for agreeing not
to engage in the crop insurance business for three years from the sale date. The
payment  is being amortized to income on a straight-line basis over a three-year
period.

SHAREHOLDERS'  (DEFICIT)

Shareholders'  (deficit)  has  increased by $(5,904,000) from December 31, 2002.
This  increase  is  primarily the result of the net loss of $(5,007,000) for the
three  months ended March 31, 2003 coupled with an unrealized loss of $(897,000)
on  investments  available  for  sale.

LIQUIDITY  AND  CAPITAL  RESOURCES

The  primary  source  of funds available to the management and holding companies
are  fees  from  policyholders  and  management  fees.

Superior  Insurance Group, Inc. ("Superior Group") collects billing fees charged
to  Pafco  policyholders,  who  elect  to  make  their  premium  payments  in
installments,  and  managing  general  agent  ("MGA")  fees  charged to Superior
policyholders.  Superior  Group  also  receives  management  fees  under  its
management  agreement  with  its  insurance  subsidiaries.  When  the  Florida
Department  of  Insurance  ("FDOI")  approved  the  acquisition  of  Superior by
Superior  Group,  it  prohibited  Superior  from  paying  any dividends (whether
extraordinary  or not) for four years from the date of acquisition (May 1, 1996)
without  the  prior  written  approval of the FDOI, which restriction expired in
April  2000.  As  a result of regulatory actions taken by the Indiana Department
of  Insurance ("IDOI") with respect to Pafco and IGF, those subsidiaries may not
pay  dividends  without  prior  approval  by  the  IDOI.  Pafco  cannot  pay
extraordinary  dividends,  within  the  meaning  of  the Indiana Insurance Code,
without  the  prior  approval  of  the  Indiana  Insurance  Commissioner.  The
management  fees charged to Pafco, Superior and IGF are subject to review by the
IDOI  and  FDOI.

The  nonstandard  automobile  insurance subsidiaries' primary source of funds is
premiums,  investment  income and proceeds from the maturity or sale of invested
assets.  Such  funds  are used principally for the payment of claims, payment of
claims  settlement  costs,  operating  expenses  (primarily  management  fees),
commissions  to independent agents, premium taxes, dividends and the purchase of
investments.  There  is  variability  in  cash outflows because of uncertainties
regarding  settlement dates for liabilities for unpaid losses.  Accordingly, the
Company  maintains investment programs intended to provide adequate funds to pay
claims.  During  2003, 2002 and 2001, due to reduced premium volume, the Company
liquidated  investments  to  pay  claims.  The Company historically has tried to
maintain  duration  averages  of 3.5 years.  However, the reduction in new funds
due  to  lower  premium volume caused the Company to shorten the duration of its
investments. The Company may incur additional costs in selling longer-term bonds
to  pay  claims,  as  claim  payments  tend to lag premium receipts.  Due to the
decline in premium volume, the Company experienced a reduction in its investment
portfolio,  but to date has not experienced any problems meeting its obligations
for  claims  payments.

The  Company  has obtained a revolving credit facility ("Facility") with Granite
Reinsurance  Company  Ltd.,  a  related party, in the amount of $2.5 million due
December  20, 2004, and $1.0 million due November 30, 2004, in December 2001 and
October  2002, respectively. The terms of the Facility call for monthly interest
payments  at  the prime rate (as printed in the Wall Street Journal on the first
business  day  of  each  month) plus 5.25% (the total rate was 9.5% at March 31,
2003)  computed on an annual basis and not to exceed 18% per annum calculated on
the  average  principal  outstanding  each  month.

On  August  12, 1997, the Company issued through a wholly owned trust subsidiary
$135 million aggregate principal amount in trust originated preferred securities
(the  "Preferred Securities").  The Preferred Securities have a term of 30 years
with  semi-annual  interest payments of $6.4 million that commenced February 15,
1998.  The  Company  may  redeem the Preferred Securities in whole or in part 10
years  after  the  issue  date.

The  Company  elected to defer the semi-annual interest payments due in February
and  August  2000,  2001,  2002  and  February 2003 and expects to continue this
practice  through 2004.  The unpaid interest installment amounts accrue interest
at  9.5%.

The  Company  may  continue  to defer semi-annual interest payments for up to an
aggregate  of  five  (5)  years  as permitted by the indenture for the Preferred
Securities.  All  of  the  deferred  interest (approximately $84 million, if all
payments  due  in  2003  and  2004  are deferred) will become due and payable in
February 2005 along with the semi-annual interest due at that time.  The Company
relies  on  the  payment of finance and service fees by its subsidiaries to fund
its  operations,  including its payment of interest on the Preferred Securities.
Certain state regulators, including the FDOI, have issued orders prohibiting the
Company's  subsidiaries from paying such fees to the Company.  In the event such
orders  continue,  the  Company  may  not  have  sufficient  revenue to fund its
operations  or  to  pay the deferred interest on the Preferred Securities.  Such
failure  to  pay could result in default under the indenture and acceleration of
the  payment  of  the  Preferred  Securities.

The  trust  indenture  contains  certain  restrictive  covenants  based upon the
Company's  consolidated  coverage  ratio  of  earnings  before  interest, taxes,
depreciation  and amortization (EBITDA). If the Company's EBITDA falls below 2.5
times  consolidated  interest  expense  (including  Preferred  Securities
distributions)  for  the  most  recent four quarters, the following restrictions
become  effective:

-    The  Company  may not incur additional indebtedness or guarantee additional
     indebtedness.
-    The Company may not make certain restricted payments including making loans
     or advances to affiliates, repurchasing common stock or paying dividends in
     excess  of  a  stated  limitation.
-    The  Company  may not increase its level of non-investment grade securities
     defined  as  equities,  mortgage  loans, real estate, real estate loans and
     non-investment  grade  fixed  income  securities.

These restrictions currently apply, as the Company's consolidated coverage ratio
was  (0.42)  in  March  31, 2003, and will continue to apply until the Company's
consolidated  coverage ratio complies with the terms of the trust indenture. The
Company  complied with these additional restrictions as of December 31, 2001 and
2002  and  is  in  compliance  as  of  May  9,  2003.

Net  cash  used by operating activities in 2003 aggregated $(9,266,000) compared
to $(6,729,000) for March 31, 2003 due to reduced cash provided by operations as
a  result  of lower premium volumes and the reduced number of policies in force.

As  reported  in  the  Company's  December  31,  2002 Form 10-K, during 2002 the
Company  initiated  a  number  of  actions  to  improve  is financial condition.


ITEM  3.  QUALITATIVE  AND  QUANTITATIVE  DISCLOSURES  ABOUT  MARKET  RISK

Information  related  to  Qualitative  and Quantitative Disclosures about Market
Risk was included under Item 1. Business in the December 31, 2002 Form 10-K.  No
material  changes  have  occurred  in  market  risk  since  this information was
disclosed  in  the  December  31,  2002  Form  10-K.

PART  II  -  OTHER  INFORMATION
ITEM  1.  LEGAL  PROCEEDINGS

Superior  is  a defendant in a case filed June 16, 2003 in the Superior Court of
Muscogee  County,  Georgia  entitled  Kenneth  P.  Chung  v.  Superior Insurance
Company.  The  case  purports  to  be  brought  on  behalf of former and current
insureds  of  Superior who presented first party physical damage coverage claims
during  the  six-year  period  preceding  June  16,  2003.  The  plaintiff seeks
recovery  of alleged diminution in vehicle value from physical damage.  Superior
believes  that  the  allegations  of wrongdoing as alleged in the complaint were
without  merit  and  intends to vigorously defend the claims brought against it.

IGF,  which  is  a wholly owned subsidiary of the Company, had been a party to a
number  of  pending  legal  proceedings  and  claims  relating  to  agricultural
production  interruption insurance policies (the "AgPI Program") which were sold
during  1998.  All  of  the  policies of insurance which were issued in the AgPI
Program  were  issued by and under the name of Mutual Service Casualty Insurance
Company  ("MSI"),  a  Minnesota corporation with its principal place of business
located  in  Arden  Hills,  Minnesota.  Sales  of this product resulted in large
underwriting  losses  by  IGF.

Approximately  $29  million  was paid through December 31, 2002 in settlement of
legal proceedings and policyholder claims related to the AgPI Program.  All AgPI
policyholder  claims  were  settled  during 2000. However, on January 12, 2001 a
case  was  filed in the Superior Court of California, County of Fresno, entitled
S&W  Seed Company, Dudley Silveira, Ric Blanchard and Darrell Silveira v. Mutual
Service  Casualty  Insurance  Company,  IGF  Insurance  Company,  and  Dibuduo &
Defendis  Insurance  Agency, Inc.; Case No. OICE CG 00137.  The case was brought
by four AgPI policyholders who had previously settled their AgPI claims pursuant
to binding settlement agreements who sought additional compensation by asserting
through  litigation  that  IGF  and  the  third party carrier paid less than the
policy  limits  they  were promised when they purchased the policy and that each
settling  policyholder  was  forced  to  accept  the  lesser amount due to their
economic  duress.  IGF filed a motion for summary judgment to dismiss the claims
in  the  plaintiff's  fourth  amended  complaint  on  the  basis  that  releases
previously executed by the plaintiffs are binding, which was granted.  The cross
claims between the selling brokers and MSI and IGF remain pending.  The trial is
scheduled  to  begin  in  August  2003.

The  Company  is a defendant in a case filed on February 23, 2000, in the United
States District Court for the Southern District of Indiana entitled Robert Winn,
et  al. v. Symons International Group, Inc., et al., Cause No. IP 00-0310-C-B/S.
Other  parties  named as defendants are Goran, three individuals who were or are
officers or directors of the Company or of Goran, PricewaterhouseCoopers LLP and
Schwartz  Levitsky  Feldman, LLP. The case purports to be brought on behalf of a
class  consisting  of  purchasers of the Company's stock or Goran's stock during
the  period  February  27,  1998,  through  and  including  November  18,  1999.
Plaintiffs  allege,  among  other  things,  that  defendants  misrepresented the
reliability  of the Company's reported financial statements, data processing and
financial reporting systems, internal controls and loss reserves in violation of
Section  10(b)  of  the Securities Exchange Act of 1934 (the "1934 Act") and SEC
Rule  10b-5  promulgated thereunder.  The individual defendants are also alleged
to  be  liable  as  "controlling  persons" under Sec.20 (a) of the 1934 Act.  As
previously  reported in the Company's September 30, 2002 Form 10-Q, the Company,
Goran  and  the  individual  defendants  entered  into  an  agreement  with  the
plaintiffs  for  settlement.  The  settlement  is  subject  to certain terms and
conditions  and  court  approval.

The  Company  and  two  of  its  subsidiaries,  IGFH  and IGF, were parties to a
"Strategic  Alliance  Agreement"  dated  February  28,  1998  (the  "SAA")  with
Continental  Casualty  Company  ("CNA"),  pursuant to which IGF acquired certain
crop insurance operations of CNA.  The obligations of the Company, IGFH, IGF and
CNA under the SAA are the subject of an action filed on June 4, 2001 and pending
in  United  States  District  Court  for  the  Southern  District  of  Indiana,
Indianapolis  Division.  Claims  have  also  been asserted in the action against
Goran,  Granite  Re,  Pafco,  Superior and certain members of the Symons family.
Discovery  is proceeding.  Although the Company continues to believe that it has
claims  against  CNA  and  defenses  to  CNA's claims which may offset or reduce
amounts owing by the Company or its affiliates to CNA, there can be no assurance
that  the  ultimate resolution of the claims asserted by CNA against the Company
and  its  affiliates  will not have a material adverse effect upon the Company's
and  its  affiliates'  financial  condition  or  results  of  operations.

Superior  was  a  defendant  in a case filed on May 8, 2001 in the United States
District  Court  Southern  District of Florida entitled The Chiropractic Centre,
Inc.  v. Superior Insurance Company, Case No. 01-6782.  The case purported to be
brought  on behalf of a class consisting of healthcare providers improperly paid
discounted  rates  on  services  to  patients  based  upon  a preferred provider
contract  with  a  third  party.  The plaintiff alleged that Superior breached a
third  party  beneficiary  contract, committed fraud and engaged in racketeering
activity  in  violation of federal and Florida law by obtaining discounted rates
offered  by  a  third  party  with  whom  the plaintiff contracted directly.  On
September 30, 2002, the court issued an administrative order which dismissed the
case.  The court's order administratively closing the case could be temporary or
permanent.  Superior  believes  that the allegations of wrongdoing as alleged in
the  complaint  were  without  merit  and  in  the event the order is temporary,
Superior  intends  to  vigorously  defend  the  claims  brought  against  it.

IGF  is a defendant in a case filed on December 31, 2002 in the Circuit Court of
Greene County, Missouri entitled Kevin L. Stevens v. Wilkerson Insurers, et al.,
Case  No.  102CC5135.  Other  parties  named  as  defendants  are Goran, Goran's
subsidiaries,  Symons  International  Group  (Florida),  Inc.  and  Granite  Re,
Superior Group Management, Superior, Superior American, Superior Guaranty, Pafco
and  three  individuals  who  were  or are officers or directors of the Company.
Goran,  Granite  Re,  Symons  International Group (Florida), Inc, Superior Group
Management,  Superior,  Superior  American,  Superior  Guaranty  and  certain
individual defendants filed motions to dismiss for lack of personal jurisdiction
which  were  denied. The case purports to be brought on behalf of an IGF insured
seeking  to recover alleged damages based on allegations of bad faith, negligent
claims  handling  and  breach  of fiduciary duties with respect to a claim which
arose  from  an  accident  caused  by  the  IGF  insured.  IGF believes that the
allegations  of  wrongdoing  as  alleged  in the complaint are without merit and
intends  to  vigorously  defend  the  claims  brought  against  it.

See  footnote  3,  "Regulatory  Actions",  and  footnote  4,  "Commitment  and
Contingencies",  to the Company's consolidated financial statements in Part I of
this  report,  incorporated  herein  by reference, for additional legal matters.

The  Company's insurance subsidiaries are parties to other litigation arising in
the  ordinary  course of business which the Company does not believe will have a
material  adverse  effect  upon  the  Company's  and  its  affiliates  financial
conditions  or results.   The Company, through its claims reserves, reserves for
both  the  amount  of  estimated  damages attributable to these lawsuits and the
estimate  costs  of  litigation.

ITEM  2.     CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS
             None

ITEM  3.     DEFAULTS  UPON  SENIOR  SECURITIES
             None

ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS
             None

ITEM  5.     OTHER  INFORMATION
             None

ITEM  6.     EXHIBITS  AND  REPORTS  ON  FORM  8-K
             Exhibits
             --------

99.1      Certification  Pursuant  to  18 U.S.C. Section 1350, as Adopted
          Pursuant to  Section  906  of  the  Sarbanes-Oxley  Act  of  2002.

99.2      Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant
          to  Section  906  of  the  Sarbanes-Oxley  Act  of  2002.

          Reports  on  Form  8-K
          ----------------------
          None


<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.



                                             Symons  International  Group,  Inc.


July  15, 2003                                By: /s/ Douglas H.Symons
                                                 ---------------------
                                                 Douglas  H.  Symons,  President
                                                 and  Chief  Executive  Officer



<PAGE>

                        SYMONS INTERNATIONAL GROUP, INC.
                        --------------------------------

                                   CERTIFICATE

     I,  Douglas  H.  Symons,  certify  that:

1.   I  have reviewed this quarterly report on Form 10-Q of Symons International
     Group,  Inc.

2.   Based  on  my  knowledge, this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  quarterly  report.

3.   Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report.

4.   I  am  responsible for establishing and maintaining disclosure controls and
     procedures  (as  defined  in  Exchange Act Rules 13a014 and 15d-14) for the
     registrant,  and  we  have:

     a)   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during  the  period  in  which this quarterly
          report  is  being  prepared;

     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and

     c)   presented  in  this  quarterly  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

5.   I  have disclosed, based on our most recent evaluation, to the registrant's
     auditors  and  the  audit  committee of registrant's board of directors (or
     persons  performing  the  equivalent  functions):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and

     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and

6.   I  have  indicated  in  this  quarterly  report  whether  or not there were
     significant  changes  in  internal  controls or in other factors that could
     significantly  affect  internal controls subsequent to the date of our most
     recent  evaluation,  including  any  corrective  actions  with  regard  to
     significant  deficiencies  and  material  weaknesses.


Dated:  July  15,  2003                              /s/  Douglas  H. Symons
                                                     ----------------- -- --
                                                     Douglas  H.  Symons
                                                     Chief  Executive Officer




<PAGE>

                        SYMONS INTERNATIONAL GROUP, INC.
                        --------------------------------

                                   CERTIFICATE


     I,  Bruce  K.  Dwyer,  certify  that:

1.   I  have reviewed this quarterly report on Form 10-Q of Symons International
     Group,  Inc.

2.   Based  on  my  knowledge, this quarterly report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  quarterly  report.

3.   Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included  in  this  quarterly  report,  fairly  present in all
     material  respects  the financial condition, results of operations and cash
     flows  of  the  registrant  as  of,  and for, the periods presented in this
     quarterly  report.

4.   I  am  responsible for establishing and maintaining disclosure controls and
     procedures  (as  defined  in  Exchange Act Rules 13a014 and 15d-14) for the
     registrant,  and  we  have:

     a)   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  registrant,  including  its
          consolidated  subsidiaries, is made known to us by others within those
          entities,  particularly  during  the  period  in  which this quarterly
          report  is  being  prepared;

     b)   evaluated  the  effectiveness  of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  quarterly  report  (the  "Evaluation  Date");  and

     c)   presented  in  this  quarterly  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

5.   I  have disclosed, based on our most recent evaluation, to the registrant's
     auditors  and  the  audit  committee of registrant's board of directors (or
     persons  performing  the  equivalent  functions):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which  could  adversely  affect  the registrant's ability to
          record,  process,  summarize  and  report  financial  data  and  have
          identified  for  the  registrant's auditors any material weaknesses in
          internal  controls;  and

     b)   any  fraud, whether or not material, that involves management or other
          employees  who  have  a  significant role in the registrant's internal
          controls;  and

6.   I  have  indicated  in this quarterly report whether there were significant
     changes  in  internal controls or in other factors that could significantly
     affect  internal  controls  subsequent  to  the  date  of  our  most recent
     evaluation,  including  any  corrective  actions with regard to significant
     deficiencies  and  material  weaknesses.


Dated:  July 15, 2003                                  /s/Bruce K. Dwyer
                                                       -----------------
                                                       Bruce  K.  Dwyer
                                                       Chief  Financial  Officer