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AMERICAN INDEMNITY FINANCIAL CORPORATION DECLARES REGULAR DIVIDEND AND REPORTS THIRD QUARTER AND NINE MONTHS 1993 RESULTS

 GALVESTON, Texas, Oct. 27 /PRNewswire/ -- American Indemnity Financial Corporation, (NASDAQ: AIFC) today declared a regular quarterly cash dividend on its common stock of 3 cents per share payable Nov. 15, 1993, to stockholders of record on Nov. 8, 1993, and announced 1993 third quarter and nine months financial results on a preliminary and unaudited basis.
 For the third quarter ended Sept. 30, 1993, the company reported net income of $893,228 or 46 cents per share, compared with net income of $1,553,402 or 80 cents per share for the third quarter ended Sept. 30, 1992.
 For the nine months ended Sept. 30, 1993, the company reported net income of $4,084,750 or $2.11 per share, compared with net income of $1,720,946 or 89 cents per share for the nine months ended Sept. 30, 1992.
 American Indemnity Financial Corporation is the parent corporation of American Indemnity Company, American Fire and Indemnity Company, Texas General Indemnity Company and American Computing Company, all of Galveston.
 AMERICAN INDEMNITY FINANCIAL CORPORATION
 Consolidated Financial Highlights (Unaudited)
 Three Months Ended Sept. 30 1993 1992
 Net premiums written $16,496,252 $15,677,580
 Premiums earned 16,241,949 15,909,753
 Net investment income 1,288,069 1,374,223
 Realized investment gains 100,685 1,199,460
 Net income 893,228 1,553,402
 Earnings per share summary:
 Net income .46 .80
 Weighted average shares outstanding 1,943,310 1,924,210
 Nine Months Ended Sept. 30 1993 1992
 Net premiums written $50,379,407 $48,777,663
 Premiums earned 48,188,996 44,668,156
 Net investment income 3,870,065 4,149,287
 Realized investment gains 1,113,134 1,274,677
 Net income 4,084,750 1,720,946
 Earnings per share summary:
 Net income $2.11 .89
 Weighted average shares outstanding 1,935,471 1,924,210
 -0- 10/27/93
 /CONTACT: Synott L. McNeel of American Indemnity Financial Corporation, 409-766-4674/
 (AIFC)


CO: American Indemnity Financial Corporation ST: Texas IN: INS SU: DIV ERN

WB -- NY078 -- 7319 10/27/93 13:00 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
Words:347
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