===============================================================================

                      SECURITIES AND EXCHANGE COMMISSION 
                            WASHINGTON, D.C. 20549 

                                SCHEDULE 14D-1 
                              (AMENDMENT NO. 49) 
             TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1) 
                    OF THE SECURITIES EXCHANGE ACT OF 1934 

                    AMERICAN BANKERS INSURANCE GROUP, INC. 
                          (NAME OF SUBJECT COMPANY) 

                           SEASON ACQUISITION CORP. 
                             CENDANT CORPORATION 
                                  (Bidders) 
                   COMMON STOCK, PAR VALUE $1.00 PER SHARE 
          (INCLUDING THE ASSOCIATED PREFERRED STOCK PURCHASE RIGHTS) 
                        (Title of Class of Securities) 
                                 024456 10 5 
                    (CUSIP Number of Class of Securities) 

                            JAMES E. BUCKMAN, ESQ. 
             SENIOR EXECUTIVE VICE PRESIDENT AND GENERAL COUNSEL 
                             CENDANT CORPORATION 
                                 6 SYLVAN WAY 
                         PARSIPPANY, NEW JERSEY 07054 
                          TELEPHONE: (973) 428-9700 
           (Name, Address and Telephone Number of Person Authorized 
         to Receive Notices and Communications on Behalf of Bidders) 

                               WITH A COPY TO: 
                               DAVID FOX, ESQ. 
                            ERIC J. FRIEDMAN, ESQ. 
                   SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP 
                               919 THIRD AVENUE 
                           NEW YORK, NEW YORK 10022 
                          TELEPHONE: (212) 735-3000 

===============================================================================



   This Amendment No. 49 amends the Tender Offer Statement on Schedule 14D-1 
initially filed on January 27, 1998 (as amended, the "Schedule 14D-1") by 
Cendant Corporation, a Delaware corporation ("Parent"), and its wholly owned 
subsidiary, Season Acquisition Corp., a New Jersey corporation ("Purchaser"), 
relating to Purchaser's tender offer for 23,501,260 outstanding shares of 
common stock, par value $1.00 per share, of American Bankers Insurance Group, 
Inc., a Florida corporation (the "Company") upon the terms and subject to the 
conditions set forth in the Offer to Purchase, dated January 27, 1998 (the 
"Offer to Purchase"), the Supplement thereto, dated March 16, 1998 (the 
"First Supplement"), the Second Supplement thereto, dated March 24, 1998 (the 
"Second Supplement"), and the revised Letters of Transmittal (which, together 
with any amendments or supplements thereto, constitute the "Offer"). Unless 
otherwise defined herein, all capitalized terms used herein shall have the 
respective meanings given such terms in the Offer to Purchase, the First 
Supplement or the Schedule 14D-1. 

ITEM 11. MATERIAL TO BE FILED AS EXHIBITS. 

Item 11 is hereby amended as follows:

   (g)(39)   Text of Press Release issued by Parent on July 28, 1998.

   (g)(40)   Text of Press Release issued by Parent on July 28, 1998.
                                      1


                                 SIGNATURE 

   After due inquiry and to the best of its knowledge and belief, the 
undersigned certifies that the information set forth in this statement is 
true, complete and correct. 

Dated: July 29, 1998                    CENDANT CORPORATION 

                                        By: /s/ James E. Buckman 
                                            Name: James E. Buckman 
                                            Title: Senior Executive Vice 
                                                   President and General Counsel


                                        SEASON ACQUISITION CORP. 

                                        By: /s/ James E. Buckman 
                                            Name: James E. Buckman 
                                            Title: Executive Vice President 












                                       2


                                EXHIBIT INDEX 

   EXHIBIT 
   NUMBER 
   ------

   (g)(39)   Text of Press Release issued by Parent on July 28, 1998.

   (g)(40)   Text of Press Release issued by Parent on July 28, 1998.











                                       3



                                                          FOR IMMEDIATE RELEASE
                                                          ---------------------


            CENDANT CONFIRMS ESTIMATE OF 1997 ACCOUNTING RESTATEMENT

PARSIPPANY, NJ AND STAMFORD, CT, JULY 28, 1998--Cendant Corporation (NYSE:CD)
today announced that the Audit Committee of its Board of Directors had received
an oral summary of the conclusions of Arthur Andersen LLP's forensic audit of 
the accounting records of the former CUC International. Arthur Andersen 
reported that its investigation was virtually complete. Deloitte & Touche LLP 
also reported on the status of its audit and indicated that it was 
substantially complete. Their conclusions were consistent with the Company's 
July 14 $0.22 to $0.28 per share estimate of the aggregate restatement of net 
income before one-time and extraordinary items required to correct 1997 
accounting irregularities and accounting errors.

The Company also now expects the restatement will reverse significantly more 
1997 one-time merger charges than the $200 million amount ($0.22 per share) 
estimated on July 14. This reversal of one-time merger charges will not benefit
1997 net income before one-time and extraordinary items. It will, however, have
the effect of further reducing the impact of the restatement on 1997 net income
and on Cendant's shareholders' equity.

Cendant expects to issue full restated and audited historical financial 
statement in early August. Deloitte & Touche acts as independent auditors to 
Cendant and has replaced Ernst & Young as the auditor of these historical 
statements.

Arthur Andersen's forensic audit was commissioned by Willkie Farr & Gallagher as
part of its overall investigation of the accounting irregularities on behalf of 
the Audit Committee of the Cendant Board. The Audit Committee's report of that 
investigation should be complete in late August.



Certain matters discussed in the news release are forward-looking statements, 
as defined in the Private Securities Litigation Reform Act of 1995. Such 
forward-looking statements are subject to a number of known and unknown risks
and uncertainties including, but not limited to, the outcome of the Audit
Committee's investigation; uncertainty as to the Company's future
profitability; the Company's ability to develop and implement operational and
financial systems to manage rapidly growing operations; competition in the
Company's existing and potential future lines of business; the Company's 
ability to integrate and operate successfully acquired businesses and the risks
associated with such businesses; the Company's ability to obtain financing on 
acceptable terms to finance the Company's growth strategy and for the Company 
to operate within the limitations imposed by financing arrangements; 
uncertainty as to the future profitability of acquired businesses; and other 
factors. Other factors and assumptions not identified above were also involved 
in the derivation of these forward-looking statements, and the failure of such 
other assumptions to be realized as well as other factors may also cause actual
results to differ materially from those projected. The Company assumes no 
obligation to update these forward-looking statements to reflect actual 
results, changes in assumptions or changes in other factors affecting such 
forward-looking statements.

Cendant (NYSE:CD) is the world's premier provider of consumer and business
services. Cendant operates in three principal segments: Alliance Marketing,
Travel and Real Estate Services. Headquartered in Stamford, CT and Parsippany,
NJ, the company has more than 40,000 employees, operates in over 100 countries
and makes approximately 100 million customer contacts annually.


Media Contacts:
Jim Fingeroth/Roanne Kulakoff
Kekst and Company
(212) 521-4800

Investor Contact:
David M. Johnson
(973)496-7909





FOR IMMEDIATE RELEASE
- ---------------------


                  WALTER FORBES STEPS DOWN AS CENDANT CHAIRMAN

                   CEO HENRY SILVERMAN ELECTED NEW CHAIRMAN

                         NINE CUC BOARD MEMBERS RESIGN;
                 ONE ADDITIONAL DIRECTOR TO LEAVE BY YEAR-END

            80% VOTE ON CORPORATE GOVERNANCE PROVISIONS ELIMINATED


PARSIPPANY, NJ, JULY 28, 1998--Cendant Corporation [NYSE:CD] today announced
that Walter A. Forbes resigned as Chairman of the Company and as a member of
the Board of Directors, effective immediately. Henry R. Silverman, Chief
Executive Officer of Cendant, was unanimously elected by the Board of Directors
to be Chairman and will continue to serve as CEO and President.

Nine members of the Board formerly associated with CUC International, including
Mr. Forbes, also resigned effective immediately. One other Board member
formerly associated with CUC will leave the Board by year end, leaving Cendant
with 18 directors.

The Board also voted to eliminate the governance plan adopted as part of the
CUC-HFS merger, including the 80% super-majority provisions of the Company's
By-Laws which include limitations on the removal of the Chairman and the CEO.
In addition, the Board rescheduled Cendant's annual meeting of shareholders
for October 1, 1998.

Mr. Silverman said, "Walter Forbes's decision and the corporate governance
changes approved today end any uncertainty about the future direction and
leadership of Cendant. That uncertainty was a serious impediment to conducting
our business and the process of restoring trust in our company.

"Now we can focus all of our energies on rebuilding confidence in our Company
and value for Cendant's shareholders," Mr. Silverman added. "The company's
earnings and cash flow remain strong. We have some of the most valuable
businesses in the world. Most importantly, we have outstanding people who are
passionate about Cendant and its future."



Commenting on his action, Mr. Forbes said, "I leave with tremendous confidence
in the future success of Cendant. The vision and rationale behind its creation
remain as compelling as ever. Its business fundamentals are strong. The
operations are sound and profitable. The opportunities for synergy are
numerous. The action I am taking today eliminates speculation about the future
leadership of Cendant and helps the company focus all of its attention and
resources on restoring the faith of its shareholders, its customers and its
people."

(Note: full statements by Mr. Silverman and Mr. Forbes are attached)

             TERMS OF SEVERANCE AGREEMENT WITH MR. FORBES OUTLINED
The severance agreement reached with Mr. Forbes gives him the benefits required
by his contract should he be terminated for reasons other than for cause. These
benefits total $35 million in cash and include the grant of certain options. In
addition, the Company provided a limited release for Mr. Forbes. The payments to
Mr. Forbes will cause Cendant to record an unusual expense of approximately
$0.03 per share in the third quarter.

                   BOARD MEMBERS RESIGN, SIZE OF BOARD REDUCED
The immediate departure of nine Directors formerly associated with CUC, and the
planned departure of one additional CUC Director, Frederick D. Green, will
result in Cendant having a Board with 18 Directors. Mr. Green, Chairman of the
Audit Committee, has agreed to resign effective upon completion of the final
Audit Committee report.

Certain matters discussed in this news release and the attached statements are
forward-looking statements, as defined in the Private Securities Litigation
Reform Act of 1995.  Such forward-looking statements are subject to a number of
known and unknown risks and uncertainties including, but not limited to, the
outcome of the Audit Committee's investigation; uncertainty as to the Company's
future profitability; the Company's ability to develop and implement 
operational and financial systems to manage rapidly growing operations; 
competition in the Company's existing and potential future lines of business;
the Company's ability to integrate and operate successfully acquired businesses
and the risks associated with such businesses; the Company's ability to obtain 
financing on acceptable terms to finance the Company's growth strategy and for 
the Company to operate within the limitations imposed by financing 
arrangements; uncertainty as to the future profitability of acquired 
businesses; and other factors. Other factors and assumptions not identified 
above were also involved in the derivation of these forward-looking statements,
and the failure of such other assumptions to be realized as well as other 
factors may also cause actual results to differ materially from those 
projected. The Company assumes no obligation to update these forward-looking 
statements to reflect actual results, changes in assumptions or changes in 
other factors affecting such forward-looking statements.


                                       2




Cendant is the world's premier provider of consumer and business services.
Cendant operates in three principal segments: Alliance Marketing, Travel and
Real Estate Services. Headquartered in Parsippany, NJ, the company has more 
than 40,000 employees, operates in over 100 countries and makes approximately 
100 million customer contacts annually.



Contacts:
Media:
Jim Fingeroth/Victoria Weld
Kekst and Company
212/521-4800

Investor Contact:
David M. Johnson
Cendant
973/496-7909

For Mr. Forbes:
Nicole Reilly
212/885-0353




                                       3




                        STATEMENT FROM HENRY SILVERMAN
                 CHIEF EXECUTIVE OFFICER, CENDANT CORPORATION

During the past three months, the shareholders and people of Cendant have
suffered unfairly from an unconscionable fraud perpetrated against the company
by a few individuals at the former CUC International. It has tarnished our
company's reputation and created public uncertainty and speculation about the
future leadership of Cendant.

Like every other shareholder and employee, I am outraged at what has 
transpired. We intend to take appropriate action against those who conducted
these fraudulent activities, and will continue cooperating fully with law
enforcement authorities.

At the same time, we have an obligation to our shareholders and everyone
associated with Cendant to move ahead with the business of our company. We must
do everything we can to put this episode behind us, to eliminate the cloud
hanging over this company, to dispel all of the uncertainty generated by recent
events. As others have noted, its has been difficult for Cendant to rebuild
trust in our company while this uncertainty exists.

The corporate governance changes approved today by our Board of Directors end
any uncertainty about the future direction and leadership of Cendant. We can
now rebuild trust in our company. We can focus all of our energies on
rebuilding value for Cendant's shareholders. The company's earnings and cash
flow remain strong. We have some of the most valuable businesses in the world.
Most importantly, we have outstanding people who are passionate about Cendant
and its future.

I look forward to working with all of the people of Cendant to move our company
forward, build on our unique combination of strengths and realize the full
potential of this great enterprise.







                                       4





                         STATEMENT FROM WALTER FORBES
                         CHAIRMAN, CENDANT CORPORATION


Together with many talented, hard working and decent people, I devoted 25 years
of my life to creating and building CUC International, which became an
innovative force in developing and marketing consumer services. In combining
with HFS, another great company, CUC became part of an enterprise with
extraordinary energy and vision - and an unsurpassed ability to capitalize on
rapidly changing consumer markets.

However, the people of Cendant and its shareholders have suffered in recent
months as a result of fraudulent conduct and the uncertainty it has created.
Today, it is apparent that the actions of a few have profoundly hurt us all.
And, as I have said on many occasions, I had absolutely no knowledge of the
accounting irregularities. However, I now believe it is in the best interest of
our shareholders and employees to resolve this uncertainty.

I leave with tremendous confidence in the future success of Cendant. The vision
and rationale behind its creation remain as compelling as ever. Its business
fundamentals are strong. The operations are sound and profitable. The 
opportunities for synergy are numerous. The action I am taking today eliminates
speculation about the future leadership of Cendant and helps the company focus
all of its attention and resources on restoring the faith of its shareholders,
its customers and its people.

I am proud to have helped create one of the most dynamic consumer enterprises
in the world. I am grateful to all those bright, dedicated individuals with
whom I have had the chance to work. I have an unshakable faith in Cendant's
ability to create value for its shareholders, business partners and customers
for many years to come. I wish everyone associated with the company the very
best as it fulfills that mission.


                                    # # # #









                                       5