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LAWYERS TITLE CORPORATION REPORTS RESULTS

 LAWYERS TITLE CORPORATION REPORTS RESULTS
 RICHMOND, Va., Feb. 25 /PRNewswire/ -- Lawyers Title Corporation


(NASDAQ: LTCO), holding company for Lawyers Title Insurance Corporation, headquartered in Richmond, Virginia, reported increased total revenues for the quarter ended Dec. 31, 1991, of $108.5 million, compared to $100.9 million reported for the same period in 1990, and reported a reduction in its net loss to $4.0 million in the quarter ended Dec. 31, 1991, from the $5.0 million net loss reported in the same period in 1990.
 The quarter's results were benefited to a certain extent by an increase in business volumes stimulated by refinancings of existing mortgages throughout the country, a surge which began to take effect midway through the quarter and is continuing. The quarter's results were also benefited by the recognition of capital gains of approximately $4.5 million as Lawyers moved a portion of its bond portfolio from tax- free issues into taxable issues, and recognized other gains in its common stock portfolio. This compares to capital gains of $0.7 million in the fourth quarter of 1990.
 Offsetting the beneficial effects of increased business volumes and capital gains were higher policy losses incurred. Policy losses incurred were $16.0 million during the 1991 fourth quarter, compared to $12.1 million during the 1990 fourth quarter. These higher policy losses resulted from $2.6 million in reserve increases due to a lowering of the rate at which Lawyers discounts its reserves and by a further strengthening of the reserves to reflect a somewhat higher level of claims activity on past policy years than previously estimated.
 Despite the improvements in the fourth quarter, for the year ended Dec. 31, Lawyers reported total revenues of $387.4 million, down from $401.6 million in 1990, and a net loss of $22.7 million compared to $21.8 million in 1990.
 Founded in 1925, Lawyers Title Insurance Corporation offers a full line of title insurance services to residential and commercial customers through its network of subsidiaries, branch offices, agencies and Approved Attorneys in the U.S., Canada, the Bahama Islands, Puerto Rico and the U.S. Virgin Islands.
 -0- 2/25/92
 /CONTACT: H. Randolph Farmer, Lawyers Title Insurance Corporation, 804-281-6855/
 (LTCO) CO: Lawyers Title Corporation; Lawyers Title Insurance Corporation ST: Virginia IN: INS SU: ERN


JZ -- CH003 -- 2274 02/25/92 10:55 EST
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Publication:PR Newswire
Date:Feb 25, 1992
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