AMERICAN INDEMNITY FINANCIAL DECLARES REGULAR DIVIDEND AND REPORTS FIRST QUARTER 1992 RESULTS
AMERICAN INDEMNITY FINANCIAL DECLARES REGULAR DIVIDEND
AND REPORTS FIRST QUARTER 1992 RESULTS
GALVESTON, Texas, April 27 /PRNewswire/ -- American Indemnity Financial Corporation, (NASDAQ: AIFC) today declared a regular quarterly cash dividend on its common stock of 2 cents per share payable May 15, 1992, to stockholders of record on May 8, 1992, and announced 1992 first quarter financial results on a preliminary and unaudited basis.
For the first quarter ended March 31, 1992, the company reported net income of $854,689 or 44 cents per share, compared with net income of $428,589 or 22 cents per share for the first quarter ended March 31, 1991, for an increase in per share earnings of 100 percent.
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, Texas.
AMERICAN INDEMNITY FINANCIAL CORPORATION
Consolidated Financial Highlights (Unaudited)
Three months ended March 31 1992 1991
Net premiums written $ 14,813,265 $ 9,076,738
Premiums earned 14,678,613 13,354,139
Net investment income 1,374,269 1,401,828
Realized investment gains 15,823 1,584
Net income 854,689 428,589
Earnings per share summary:
Net income $.44 $.22
Weighted average shares
outstanding 1,924,210 1,924,210
/CONTACT: Synott L. McNeel of American Indemnity Financial, 409-766-4674/
(AIFC) CO: American Indemnity Financial Corporation ST: Texas IN: FIN SU: ERN TS -- NY086 -- 3193 04/27/92 12:56 EDT