Printer Friendly

ACAP CORPORATION RELEASES 1991 RESULTS

               ACAP CORPORATION RELEASES 1991 RESULTS
    HOUSTON, March 19 /PRNewswire/ -- Acap Corporation (NASDAQ: ACAP)


today reported a 1991 net loss of $1,657,796, 60 cents per common share, compared to 1990 net income of $758,250, 17 cents per common share. The company stated that the principal factors contributing to the 1991 loss included the general decline in market interest rates, the default on interest of a few investments, an increase in death benefits, and an increased ratio of expenses in relation to revenues.
    Acap Corporation is a life insurance holding company.  Operations are conducted through its wholly owned subsidiary, American Capitol Insurance Company.  Acap's corporate strategy is to make leveraged acquisitions of existing life insurance policies through direct purchase or the acquisition of life insurance companies.  The company frequently reviews potential acquisitions for candidates that meet its criteria. At this time, the company is unable to predict the timing of its next acquisition.
    -0-                      3/19/92
    /CONTACT:  J.L. Young of Acap, 713-974-2242/
    (ACAP) CO:  Acap Corporation ST:  Texas IN:  INS SU:  ERN SM -- NY080 -- 9794 03/19/92 15:30 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 19, 1992
Words:184
Previous Article:PENNSYLVANIA POWER & LIGHT CO. WILL REDUCE ELECTRICITY RATES
Next Article:MLX CORP. ANNOUNCES CONSUMMATION OF ITS RECAPITALIZATION AND SALE OF MLX REGRIGERATION AND AIR CONDITIONING GROUP
Topics:


Related Articles
FORTUNE NATIONAL CORPORATION RELEASES 1991 RESULTS
ACAP CORPORATION RELEASES 1992 RESULTS
FORTUNE NATIONAL CORPORATION RELEASES 1992 RESULTS
Acap Corporation Releases 1996 Results
/C O R R E C T I O N -- Acap Corporation/(Correction Notice)
Altera Unveils Worldwide Consultants' Alliance Program
Acap Corporation Releases 1998 Results.
APCapital Closes Initial Public Offerings.
American Physicians Capital, Inc. to Release Earnings And Hold Conference Call, May 14.
American Physicians Capital, Inc. to Present at the Raymond James Institutional Investor Conference on March 6, 2007.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters