SYMONS INTERNATIONAL GROUP INC
<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>8
<FILENAME>doc8.txt
<TEXT>

                                        7

                                  Exhibit 10.23

                              EMPLOYMENT AGREEMENT

     This  Employment  Agreement (this "Agreement") is entered into effective
as of the 31st day of May, 2002 with respect to the following:

Goran Capital Inc.("Goran"),  and Symons International Group, Inc. ("SIG"),
jointly and severally,  and  their  respective  subsidiaries  (collectively,
the "Company") consider it  essential  to  its  best interests and the best
interests of its stockholders to  foster  the  continuous  employment  of
its  key  management  personnel  and,  accordingly, the Company desires to
employ Douglas H. Symons ("Executive"), upon  the  terms  and  conditions
hereinafter  set  forth;  and

     The  Executive  desires  to continue to be employed by the Company, upon
the  terms  and  conditions  contained  herein.

     NOW,  THEREFORE, in consideration of the covenants and agreements set forth
below,  the  parties  agree  as  follows:

1.     EMPLOYMENT

     1.1     Term  of  Agreement.  The  Company  agrees  to  continue  to employ
             -------------------
Executive  as  Chief  Executive  Officer and President of Goran Capital Inc. and
Symons  International  Group, Inc. for an initial term of two (2) years,  unless
such  employment  is  terminated pursuant to Section 3 below; provided, however,
                                                              --------  -------
that  the term of this Agreement shall automatically be extended without further
action  of  either  party for additional one (1) year periods thereafter unless,
not  later  than  six  (6)  months  prior to the end of the then effective term,
either  the  Company  or the Executive shall have given written notice that such
party  does  not  intend to extend this Agreement ("Notice of Non-Renewal").  If
Company  gives  Executive  such  a Notice of Non-Renewal, Executive's employment
shall  terminate  as  of  the  expiration  date  of  this  Agreement.

     1.2     Terms  of  Employment.  During  the  term  of this Agreement as set
             ---------------------
forth in Section 1.1, Executive agrees to be a full-time employee of the Company
and  further  agrees to devote substantially all of Executive's working time and
attention  to  the  business  and  affairs  of  the  Company  and, to the extent
necessary  to  discharge  the  responsibilities  associated  with  Executive's
positions  and  to  use  Executive's  best  efforts  to  perform  faithfully and
efficiently  such  responsibilities.  Executive  shall  perform  such duties and
responsibilities  as  may  be  determined  from  time  to  time  by the Board of
Directors  of  the Company, which duties shall be consistent with the positions,
which  shall  grant  Executive  authority,  responsibility,  title  and standing
comparable  to  Executive's  positions  in  a stock insurance holding company of
similar  standing.  Executive's  primary  place of work will be at the Company's
U.S. headquarters in Indianapolis, Indiana, but it is understood and agreed that
Executive's  duties  may require travel.  In the event Executive is relocated to
another  Company location, the Company agrees to pay for the cost of Executive's
move  (including  temporary  lodging  expenses)  and  to  facilitate the sale of
Executive's  Indianapolis  home  so that Executive will be enabled to purchase a
new  home in Executive's new location that is comparable in price to Executive's
existing  home  and  have Executive's family join Executive at such new location
within  two  (2)  months  of  Executive's  transfer  or  such other period as is
reasonable  considering  market  and  location.  Nothing  herein  shall prohibit
Executive  from  devoting  time  to  civic  and community activities or managing
personal  investments,  as  long  as  the  foregoing  do  not interfere with the
performance  of  Executive's  duties  hereunder.

2.     COMPENSATION,  BENEFITS  AND  PREREQUISITES

     2.1     Salary.  Company  shall  pay  Executive  an annual salary, in equal
             ------
bi-weekly  installments,  in  the  amount  of  Five  Hundred  Thousand  Dollars
($500,000).  Executive's  salary  as  payable  pursuant to this Agreement may be
increased  from  time  to  time  as  mutually  agreed  upon by Executive and the
Company.  Notwithstanding  any  other  provision  of this Agreement, Executive's
salary  paid by Company for any year covered by this Agreement shall not be less
than  such salary paid to Executive for the immediately preceding calendar year.
All  salary and bonus amounts paid to Executive pursuant to this Agreement shall
be  in  U.S.  dollars.

     2.2     Bonus.  The  Company  and  Executive  understand and agree that the
             -----
Company  expects  to  achieve  financial  improvement  during  the  term of this
Agreement  and  that  Executive  will  make  a  material  contribution  to  that
improvement  which  will require certain personal and familial sacrifices on the
part  of  Executive.  Accordingly, it is the desire and intention of the Company
to  reward  Executive  for  the attainment of that improvement through bonus and
other  means  (including,  but not limited to, stock options, stock appreciation
rights  and other forms of incentive compensation).  Therefore, the Company will
pay  Executive  a  lump-sum bonus (subject to normal withholdings) within thirty
(30)  business  days from receipt by Company of its consolidated, annual audited
financial  statements  in an amount which shall be determined in accordance with
the  following  Bonus  Table.  All amounts used for calculation purposes in this
section  shall be based on the audited, consolidated financial statements of SIG
(or  any successor thereto), with such financial statements having been prepared
in  accordance with applicable generally accepted accounting principles, applied
on  a  consistent  basis  with  that  of  prior  years.

                                   BONUS TABLE
                                   -----------

     If  Audited  Net                         %  of  Annual  Salary
Income  (as  a  %  of                         Payable  to  Executive
Budgeted  Net  Income)  Is                    As  Bonus
--------------------------                    ---------

     Less  Than  75%                              -0-
75%  or  more,  but  less  than  85%                    25%
85%  or  more,  but  less  than  90%                    30%
90%  or  more,  but  less  than  95%                    35%
95%  or  more,  but  less  than  96%                    50%
96%  or  more,  but  less  than  97%                    60%
97%  or  more,  but  less  than  98%                    70%
98%  or  more,  but  less  than  99%                    80%
99%  or  more,  but  less  than  100%                   90%
100%  or  more  of  budget                             100%

<PAGE>
     2.3     Employee  Benefits.  Executive  shall  be  entitled  to receive all
             ------------------
benefits and perquisites which are provided to other executives of Company under
the  applicable  Company  plans  and  policies,  and  to  future  benefits  and
perquisites  made generally available to executive employees of the Company with
duties  and compensation comparable to that of Executive upon the same terms and
conditions  as  other  Company  participants  in  such  plans.

     2.4     Additional Perquisites.  During the term of this Agreement, Company
             ----------------------
shall  provide  Executive  with:

     (a)     Not  less  than  five  (5) weeks paid vacation during each calendar
year.

(b)     A  vehicle  commensurate  with  Executive's  position.

(c)     A  golfing  membership  at  various  country  clubs,  or in the event of
Executive's  relocation, other comparable country club, including payment by the
Company  of  all  charges  incurred  by  Executive  at  such  club.

(6)     A  resident  membership  at the social club of Executive's choice, or in
the  event  of  Executive's  relocation, other comparable social club, including
payment  by  the  Company  of  all  charges  incurred by Executive at such club.

     2.5     Expenses.  During the period of his employment hereunder, Executive
             --------
shall  be entitled to receive reimbursement from the Company (in accordance with
the  policies  and  procedures  in  effect  for the Company's employees) for all
reasonable  travel, entertainment and other business expenses incurred by him in
connection  with  his  services  hereunder.

3.     TERMINATION  OF  EXECUTIVE'S  EMPLOYMENT

     3.1     Termination  of  Employment  and  Severance  Pay.  Executive's
             ------------------------------------------------
employment  under  this  Agreement may be terminated by either party at any time
for  any reason; provided, however, that if Executive's employment is terminated
                 --------  -------
by  the  Company  for  any  reason other than for Cause (as such term is defined
herein),  Executive  shall  receive,  as severance pay an amount equal to salary
plus  bonus  as set forth herein.  Executive shall receive one (1) years current
salary  paid  in  regular  bi-weekly payments (the "Salary Continuation") plus a
lump  sum payment equal to one (1) years current salary (the "Lump Sum Payment")
plus, for a period of two (2) years following the date of termination, an annual
amount equal to the average of the bonus amounts earned by the Executive for the
two  (2)  year  period preceding the date of termination.   The Lump Sum Payment
shall  be  paid  to  Executive  within  five  (5)  business  days of Executive's
termination for any reason other than for Cause.  Executive and his family shall
continue to be covered by Company's health and dental plan for the period of two
years  for  the  date  of  termination  of  employment  upon  the same terms and
conditions  under which Executive and his family were covered at the time of his
termination.  Further,  if  Executive shall be terminated without Cause, receipt
of  Salary  Continuation and the Lump Sum Payment described above is conditioned
upon  execution  by  Executive  and  the  Company of a mutual waiver and release
agreement  substantially  in  the  form  of Exhibit A attached hereto.  Further,
Executive  shall  receive  Salary  Continuation  and  the  Lump  Sum  Payment in
accordance with this Section 3.1 if Executive shall terminate this Agreement due
to  a  breach  thereof by the Company or if Executive is directed by the Company
(including,  if  applicable,  any  successor)  to  engage  in  any act or action
constituting  fraud  or  any  unlawful  conduct  relating  to the Company or its
business  as  may  be determined by application of applicable law.  If Executive
shall  become  entitled  to receive Salary Continuation pursuant to this Section
3.1;  (a) all stock options of SIG and Goran (including any subsidiary of either
SIG  or Goran) existing as of the date hereof previously granted Executive shall
vest  in  full and become exercisable as of the date of Executive's termination;
and  (b)  Executive  shall have not less than one hundred eighty (180) days from
the date of termination of his employment with Company in which to exercise  any
unexercised  stock  options  previously  granted  to  Executive.

     3.2     Cause.  For  purposes  of this Agreement including, but not limited
             -----
to,  this  Section  3,  "Cause"  shall  mean:

(a)     the Executive being convicted in the United States of America, any State
therein,  or  the  District  of  Columbia,  or in Canada or any Province therein
(each,  a "Relevant Jurisdiction"), of a crime for which the maximum penalty may
include imprisonment for one year or longer (a "felony") or the Executive having
entered  against  him  or  consenting  to any judgment, decree or order (whether
criminal  or otherwise) based upon fraudulent conduct or violation of securities
laws;

(1)     the  Executive's  being  indicted  for,  charged  with  or otherwise the
subject  of any formal proceeding (criminal or otherwise) in connection with any
felony, fraudulent conduct or violation of securities laws, in a case brought by
a  law  enforcement  or securities regulatory official, agency or authority in a
Relevant  Jurisdiction;

(2)     the  Executive  engaging  in  fraud, or engaging in any unlawful conduct
relating  to the Company or its business, in either case as determined under the
laws  of  any  Relevant  Jurisdiction;  or

(3)     the  Executive  breaching  any  provision  of  this  Agreement.

     3.3     Change  of  Control.  Notwithstanding  any other provisions of this
             -------------------
Agreement,  if  (i) a Change of Control shall occur; and (ii) within twelve (12)
                                                     ---
months  of  any  such  Change  of  Control,  Executive  (a) receives a Notice of
Non-Renewal,  (b)  is  terminated  for  any  reason other than for Cause, or (c)
Company  (including its successors, if any) is in breach of this Agreement, then
Executive  shall  receive  the  Lump  Sum  Payment  plus  his current salary (in
bi-weekly  payments)  as  severance  pay  until the expiration of fifty-two (52)
weeks  from  Executive's  Date  of  Termination.

The  receipt  by  Executive  of  payments  pursuant  to  this  Section  3.3  is
specifically  conditioned, and no payments pursuant to this Section 3.3 shall be
made  to  Executive  if  he is, at the time of his Termination, in breach of any
provision  (specifically  including,  but not limited to, the provisions of this
Agreement  pertaining  to non-competition and confidentiality) of this Agreement
and,  further, if such payments have already begun, the continuation of payments
to  Executive  pursuant  to  this  Section 3.3 shall cease at the time Executive
shall  fail to comply with the non-competition and confidentiality provisions of
Article  4  herein.

     "Change  of Control" shall mean the inability of the Symons family to cause
the  election  of  a majority of the members of the Board of Directors of either
Goran,  SIG  or  their  respective  successors.

     3.4     Disability.  So  long  as  otherwise permitted by law, if Executive
             ----------
has become permanently disabled from performing his duties under this Agreement,
the  Company's  Chairman  of  the  Board, may, in his discretion, determine that
Executive  will  not  return  to  work  and terminate his employment as provided
below.  Upon any such termination for disability, Executive shall be entitled to
such  disability, medical, life insurance, and other benefits as may be provided
generally  for  disabled  employees  of  Company  during  the  period he remains
disabled.  Permanent  disability  shall  be  determined pursuant to the terms of
Executive's  long  term disability insurance policy provided by the Company.  If
Company  elects  to terminate this Agreement based on such permanent disability,
such  termination  shall  be  for  Cause.

     3.5     Indemnification.  Executive  shall be indemnified by Company to the
             ---------------
maximum  extent  permitted  by  applicable law for actions undertaken for, or on
behalf  of,  the  Company  and  its  subsidiaries.

4.     NON-COMPETITION,  CONFIDENTIALITY  AND  TRADE  SECRETS

     4.1     Noncompetition.  In  consideration  of  the Company's entering into
             --------------
this  Agreement  and the compensation and benefits to be provided by the Company
to  Executive hereunder, and further in consideration of Executive's exposure to
proprietary  information  of  the  Company,  Executive  agrees  as  follows:

(2)     Until  the  date of termination or expiration of  this Agreement for any
reason  (the  "Date  of  Termination")  Executive  agrees  not  to  enter  into
competitive  endeavors  and  not  to  undertake any commercial activity which is
contrary  to  the  best  interests  of the Company or its affiliates, including,
directly  or  indirectly,  becoming  an  employee, consultant, owner (except for
passive investments of not more than five percent (5%) of the outstanding shares
of, or any other equity interest in, any company or entity listed or traded on a
national  securities  exchange  or  in  an  over-the-counter securities market),
officer,  agent  or  director  of, or otherwise participating in the management,
operation, control or profits of (a) any firm or person engaged in the operation
of a business engaged in the acquisition of insurance businesses or (b) any firm
or person which either directly competes with a line or lines of business of the
Company  accounting  for five percent (5%) or more of the Company's gross sales,
revenues  or  earnings before taxes or derives five percent (5%) or more of such
firm's or person's gross sales, revenues or earnings before taxes from a line or
lines  of  business  which  directly  compete  with  the  Company.

(b)     If  Executive's  employment  is terminated by Executive, or by reason of
Executive's  disability,  by  the  Company for Cause, or pursuant to a Notice of
Non-Renewal as outlined in Section 1.1, then for two (2) years after the Date of
Termination,  Executive  agrees  not  to  become,  directly  or  indirectly,  an
employee,  consultant,  owner  (except  for passive investments of not more than
five percent (5%) of the outstanding shares of, or any other equity interest in,
any  company  or entity listed or traded on a national securities exchange or in
an  over-the-counter  securities  market),  officer,  agent  or  director of, or
otherwise  to  participate  in the management, operation, control or profits of,
any  firm or person which directly competes with a business of the Company which
at the Date of Termination produced any class of products or business accounting
for five percent (5%) or more of the Company's gross sales, revenues or earnings
before  taxes  at  the  Date  of  Termination.

(c)     Executive  acknowledges  and  agrees  that  damages  for  breach  of the
covenant  not to compete in this Section  4.1 will be difficult to determine and
will  not  afford  a  full  and  adequate  remedy, and therefore agrees that the
Company  shall  be  entitled  to  an  immediate injunction and restraining order
(without  the  necessity  of  a  bond)  to  prevent such breach or threatened or
continued  breach  by  Executive  and any persons or entities acting for or with
Executive,  without having to prove damages, and to all costs and expenses (if a
court  or arbitrator determines that the Executive has breached the covenant not
to  compete in this Section 4.1, including reasonable attorneys' fees and costs,
in addition to any other remedies to which the Company may be entitled at law or
in equity.  It is agreed that the provisions of this covenant not to compete are
reasonable  and necessary for the operation of the Company and its subsidiaries.
However,  should  any  court  or arbitrator determine that any provision of this
covenant  not to compete is unreasonable, either in period of time, geographical
area,  or  otherwise, the parties agree that this covenant not to compete should
be interpreted and enforced to the maximum extent which such court or arbitrator
deems  reasonable.

     4.2       CONFIDENTIALITY.  EXECUTIVE  SHALL  NOT  KNOWINGLY  DISCLOSE  OR
               ---------------
REVEAL TO ANY UNAUTHORIZED PERSON, DURING OR AFTER THE TERM, ANY TRADE SECRET OR
OTHER CONFIDENTIAL INFORMATION (AS OUTLINED IN THE INDIANA UNIFORM TRADE SECRETS
ACT)  RELATING  TO  THE  COMPANY  OR  ANY  OF  ITS  AFFILIATES,  OR ANY OF THEIR
RESPECTIVE  BUSINESSES  OR  PRINCIPALS,  AND  EXECUTIVE  CONFIRMS  THAT  SUCH
INFORMATION  IS  THE  EXCLUSIVE  PROPERTY  OF  THE  COMPANY  AND ITS AFFILIATES.
EXECUTIVE AGREES TO HOLD AS THE COMPANY'S PROPERTY ALL MEMORANDA, BOOKS, PAPERS,
LETTERS AND OTHER DATA, AND ALL COPIES THEREOF OR THEREFROM, IN ANY WAY RELATING
TO  THE BUSINESS OF THE COMPANY AND ITS AFFILIATES, WHETHER MADE BY EXECUTIVE OR
OTHERWISE  COMING INTO EXECUTIVE'S POSSESSION AND, ON TERMINATION OF EXECUTIVE'S
EMPLOYMENT,  OR ON DEMAND OF THE COMPANY AT ANY TIME, TO DELIVER THE SAME TO THE
COMPANY.

     ANY  IDEAS,  PROCESSES,  CHARACTERS,  PRODUCTIONS,  SCHEMES, TITLES, NAMES,
FORMATS,  POLICIES,  ADAPTATIONS,  PLOTS,  SLOGANS,  CATCHWORDS,  INCIDENTS,
TREATMENT,  AND DIALOGUE WHICH EXECUTIVE MAY CONCEIVE, CREATE, ORGANIZE, PREPARE
OR  PRODUCE  DURING  THE  PERIOD  OF  EXECUTIVE'S  EMPLOYMENT  AND  WHICH IDEAS,
PROCESSES,  ETC.  RELATE TO ANY OF THE BUSINESSES OF THE COMPANY, SHALL BE OWNED
BY  THE  COMPANY  AND  ITS  AFFILIATES  WHETHER  OR NOT EXECUTIVE SHOULD IN FACT
EXECUTE  AN  ASSIGNMENT  THEREOF TO THE COMPANY, BUT EXECUTIVE AGREES TO EXECUTE
ANY  ASSIGNMENT  THEREOF OR OTHER INSTRUMENT OR DOCUMENT WHICH MAY BE REASONABLY
NECESSARY  TO  PROTECT  AND  SECURE  SUCH  RIGHTS  TO  THE  COMPANY.

5.     MISCELLANEOUS

     5.1     Amendment.  This  Agreement  may be amended only in writing, signed
             ---------
by  both  parties.

     5.2     Entire Agreement.  This Agreement contains the entire understanding
             ----------------
of  the parties with regard to all matters contained herein.  There are no other
agreements,  conditions  or  representations,  oral  or  written,  expressed  or
implied,  with  regard  to the employment of Executive or the obligations of the
Company  or  the  Executive.  This  Agreement  supersedes  all  prior employment
contracts  and  non-competition  agreements  between  the  parties.

     5.3     Notices.  Any  notice  required  to  be  given under this Agreement
             -------
shall  be  in writing and shall be delivered either in person or by certified or
registered  mail,  return  receipt  requested.  Any  notice  by  mail  shall  be
addressed  as  follows:

     If  to  the  Company,  to:

     Symons  International  Group,  Inc.
Attention:  Secretary
4720  Kingsway  Drive
Indianapolis,  Indiana  46205

     AND

     Goran  Capital  Inc.
Attention:  Secretary
4720  Kingsway  Drive
Indianapolis,  Indiana  46205

     If  to  Executive,  to:

     Douglas  H.  Symons
7436  Glenvista  Place
Fishers,  Indiana   46038

or  to  such  other addresses as one party may designate in writing to the other
party  from  time  to  time.

     5.4     Waiver  of  Breach.  Any  waiver by either party of compliance with
             ------------------
any  provision  of  this  Agreement  by  the other party shall not operate or be
construed  as  a  waiver  of  any  other  provision of this Agreement, or of any
subsequent  breach  by  such  party  of  a  provision  of  this  Agreement.

     5.5     Due  Authority.  The  Company  represents  and  warrants  that  the
             --------------
execution  of this Agreement and the performance by the Company of the terms and
conditions  of  this  Agreement have been duly and validly authorized by Company
and,  further, that no other authorization or consent is required to be obtained
by  Company  for  its  performance  hereunder.

     5.6     VALIDITY.  THE  INVALIDITY  OR UNENFORCEABILITY OF ANY PROVISION OF
             --------
THIS  AGREEMENT  SHALL  NOT  AFFECT  THE VALIDITY OR ENFORCEABILITY OF ANY OTHER
PROVISION  OF  THIS  AGREEMENT,  WHICH  SHALL  REMAIN  IN FULL FORCE AND EFFECT.

     5.7     Governing Law.  This Agreement shall be interpreted and enforced in
             -------------
accordance  with  the  laws  of  the  State of Indiana, without giving effect to
conflict  of  law  principles.

     5.8     Headings.  The  headings  of  articles  and  sections  herein  are
             --------
included  solely for convenience and reference and shall not control the meaning
or  interpretation  of  any  of  the  provisions  of  this  Agreement.

     5.9     Counterparts.  This  Agreement  may  be  executed  by either of the
             ------------
parties  in  counterparts,  each of which shall be deemed to be an original, but
all  such  counterparts  shall  constitute  a  single  instrument.

     5.10     SURVIVAL.  COMPANY'S  OBLIGATIONS  UNDER SECTIONS 3.1, 3.3 AND 3.5
              --------
AND  EXECUTIVE'S  OBLIGATIONS  UNDER SECTION 4 SHALL SURVIVE THE TERMINATION AND
EXPIRATION OF THIS AGREEMENT IN ACCORDANCE WITH THE SPECIFIC PROVISIONS OF THOSE
PARAGRAPHS  AND  SECTIONS  AND  THIS  AGREEMENT IN ITS ENTIRETY SHALL BE BINDING
UPON,  AND  INURE  TO  THE BENEFIT OF, THE SUCCESSORS AND ASSIGNS OF THE PARTIES
HERETO.

     5.11     Miscellaneous.  No  provision  of  this Agreement may be modified,
              -------------
waived  or discharged unless such waiver, modification or discharge is agreed to
in  writing  and  signed  by  Executive  and such officer as may be specifically
designated  by  the  Board.  No waiver by either party hereto at any time of any
breach  by  the  other  party  hereto  of,  or compliance with, any condition or
provision  of this Agreement to be performed by such other party shall be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at any
prior  subsequent  time.

     IN  WITNESS WHEREOF, the parties have executed this Agreement this 25th day
of  April,  2003.


SYMONS  INTERNATIONAL  GROUP,  INC.


     By:_________________________________

     Title:________________________________

     GORAN  CAPITAL  INC.


By:_________________________________

     Title:_______________________________


     DOUGLAS  H.  SYMONS
("EXECUTIVE")


     ___________________________________








</TEXT>
</DOCUMENT>
