content: SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                    ------------
  
                                      FORM 8-K
  
                                   CURRENT REPORT
  
  
                       Pursuant to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934
  
  
                                   Date of Report:
  
  
                  Date of Report (Date of earliest event reported:)
                           June 4, 2003 (June 4, 2003)
  
                       American Physicians Service Group, Inc.
               (Exact name of registrant as specified in its charter)
  
  
       Texas                        0-11453                         75-1458323
    (State of               (Commission File Number)              (IRS Employer
  Incorporation)                                               Identification No.)
  
  
  
       1301 Capitol of Texas Highway
                Suite C-300
                Austin, Texas                                      78746
  (Address of principal executive offices)                      (Zip Code)
  
  
  
                                   (512) 328-0888
                (Registrant's telephone number, including area code)
  
  
  
  
  <PAGE>
  
  
  
  Item 2.  Acquistion of Assets
  
  Pursuant to the terms of that certain  Stock  Purchase  Agreement  dated June 4,
  2003, between American Physicians Service Group, Inc. ("APS") and The Roy F. and
  Joann Cole Mitte Foundation,  a Texas non-profit  corporation (the "Foundation")
  and that Stock Purchase and Option Agreememnt dated June 4, 2003 between APS and
  Financial  Industries  Corporation  ("FIC"), and an acquisition of approximately
  340,000  shares  of  FIC's  outstanding  common  stock  was  made by  APS.  This
  transaction,  together  with an earlier  purchase of 45,000 shares of FIC common
  stock,  brings the total  number of shares of FIC common  stock  owned by APS to
  approximately 385,000. The purchase price was approximately $5.7 million and was
  sourced from the Company's surplus cash investments.
  
  Concurrent with FIC's implementation of a new marketing plan, which APS assisted
  in developing,  Mr. Ken Shifrin, APS Chairman of the Board, will be appointed to
  the board of FIC.  In  addition,  APS has been  granted  an  option to  purchase
  323,000 FIC shares based on achievement of certain growth initiatives.
  
  FIC,  through  its  various  subsidiaries,  owns real  estate  and an  actuarial
  consulting  firm,  and  markets  and  underwrites  life  insurance  and  annuity
  products.
  
  
  <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 hereunto duly authorized.
  
  
                                American Physicians Service Group, Inc.
  
  
  
  Date: June 4, 2003            By:  /s/ W.H. Hayes
                                  ----------------------------------------------
  
                                Name:    W.H. Hayes
                                  ----------------------------------------------
  
                                Title:   Sr VP - Finance
                                  ----------------------------------------------
  
  
  
                                        2
  <PAGE>
  
                                   EXHIBIT INDEX
  
  Exhibit
  Number              Description
  ------              -----------
  Exhibit 10.1
  
                      Stock Purchase Agreement between American Physicians Service
                      Group, Inc. and The Roy F. and Joann Cole Mitte Foundation.
  
  Exhibit 10.2
  
                      Stock Purchase and Option Agreement between American
                      Physicians Service Group, Inc. and Financial Industries
                      Corporation.
  
  Exhibit 10.3
  
                      Registration Rights Agreement between Financial Industries
                      Corporation and American Physicians Service Group, Inc.
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "cover.txt", "description": "JUNE 4, 2003 ACQUISITION OF ASSETS", "secsgml_size_bytes": 3962}]
metadata_filer: {"company-data": {"conformed-name": "AMERICAN PHYSICIANS SERVICE GROUP INC", "cik": "0000724024", "assigned-sic": "8741", "irs-number": "751458323", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31434", "film-number": "03733359"}, "business-address": {"street1": "1301 CAPITAL OF TEXAS HWY", "street2": "C-300", "city": "AUSTIN", "state": "TX", "zip": "78746", "phone": "5123280888"}, "mail-address": {"street1": "1301 CAPITAL OF TEXAS HIGHWAY", "city": "AUTIN", "state": "TX", "zip": "78746"}}
text: SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                    ------------
  
                                      FORM 8-K
  
                                   CURRENT REPORT
  
                       Pursuant to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934
  
                                   Date of Report:
  
                  Date of Report (Date of earliest event reported:)
                           June 4, 2003 (June 4, 2003)
  
                       American Physicians Service Group, Inc.
               (Exact name of registrant as specified in its charter)
  
       Texas                        0-11453                         75-1458323
    (State of               (Commission File Number)              (IRS Employer
  Incorporation)                                               Identification No.)
  
       1301 Capitol of Texas Highway
                Suite C-300
                Austin, Texas                                      78746
  (Address of principal executive offices)                      (Zip Code)
  
                                   (512) 328-0888
                (Registrant's telephone number, including area code)
  Item 2.  Acquistion of Assets
  
  Pursuant to the terms of that certain  Stock  Purchase  Agreement  dated June 4,
  2003, between American Physicians Service Group, Inc. ("APS") and The Roy F. and
  Joann Cole Mitte Foundation,  a Texas non-profit  corporation (the "Foundation")
  and that Stock Purchase and Option Agreememnt dated June 4, 2003 between APS and
  Financial  Industries  Corporation  ("FIC"), and an acquisition of approximately
  340,000  shares  of  FIC's  outstanding  common  stock  was  made by  APS.  This
  transaction,  together  with an earlier  purchase of 45,000 shares of FIC common
  stock,  brings the total  number of shares of FIC common  stock  owned by APS to
  approximately 385,000. The purchase price was approximately $5.7 million and was
  sourced from the Company's surplus cash investments.
  
  Concurrent with FIC's implementation of a new marketing plan, which APS assisted
  in developing,  Mr. Ken Shifrin, APS Chairman of the Board, will be appointed to
  the board of FIC.  In  addition,  APS has been  granted  an  option to  purchase
  323,000 FIC shares based on achievement of certain growth initiatives.
  
  FIC,  through  its  various  subsidiaries,  owns real  estate  and an  actuarial
  consulting  firm,  and  markets  and  underwrites  life  insurance  and  annuity
  products.
  SIGNATURES
  
           Pursuant to the requirements of the Securities Exchange Act of 1934,
  the registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                American Physicians Service Group, Inc.
  
  Date: June 4, 2003            By:  /s/ W.H. Hayes
                                  ----------------------------------------------
  
                                Name:    W.H. Hayes
                                  ----------------------------------------------
  
                                Title:   Sr VP - Finance
                                  ----------------------------------------------
  
                                        2
  EXHIBIT INDEX
  
  Exhibit
  Number              Description
  ------              -----------
  Exhibit 10.1
  
                      Stock Purchase Agreement between American Physicians Service
                      Group, Inc. and The Roy F. and Joann Cole Mitte Foundation.
  
  Exhibit 10.2
  
                      Stock Purchase and Option Agreement between American
                      Physicians Service Group, Inc. and Financial Industries
                      Corporation.
  
  Exhibit 10.3
  
                      Registration Rights Agreement between Financial Industries
                      Corporation and American Physicians Service Group, Inc.