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BANCINSURANCE CORPORATION ANNOUNCES RECORD EARNINGS FOR 1992

 COLUMBUS, Ohio, March 15 /PRNewswire/ -- Bancinsurance Corporation (NASDAQ: BCIS) today announced record net income of $496,119 for the three months ended Dec. 31, 1992, compared to $92,007 for the same period a year ago. Net income per share for the fourth quarter of 1992 rose to $0.08 versus $0.01 a year ago.
 Net income increased 126.8 percent for the twelve months ended Dec. 31, 1992 to $2,137,530 from $942,410 last year. Total revenue was $12,076,742 for 1992 versus $7,505,844 the previous year, an increase of 60.9 percent. Losses and loss adjustment expenses, as a percentage of premiums earned, declined from 50.3 percent in 1991 to 47.5 percent in 1992. Net income per share was $0.36 for 1992 compared to $0.16 for the same period in 1991. Shareholders' equity increased 44.7 percent to $7,581,232 on Dec. 31, 1992 from $5,239,984 the previous year.
 Bancinsurance Corporation, headquartered in Columbus, Ohio, is an insurance holding company engaged, through its insurance subsidiary, Ohio Indemnity Company, in underwriting specialized insurance products and related services.
 Financial Highlights
 Three Months Ended Three Months Ended
 December, 31, 1992 December 31, 1991
 Total Revenues $ 4,174,646 $ 1,778,875
 Net Income $ 496,119 $ 92,007
 Net Income Per Share $ .08 $ .01
 Twelve Months Ended Twelve Months Ended
 December 31, 1992 December 31, 1991
 Total Revenues $12,076,742 $ 7,505,844
 Net Income $ 2,137,530 $ 942,410
 Net Income Per Share $ .36 $ .16
 December 31, 1992 December 31, 1991
 Total Assets $ 23,978,892 $ 15,412,118
 Shareholders' Equity $ 7,581,232 $ 5,239,984
 -0- 3/15/93
 /CONTACT: Si Sokol, president of Bancinsurance Corporation, 614-228-2800/
 (BCIS)


CO: Bancinsurance Corporation ST: Ohio IN: INS SU: ERN

BM -- CL005 -- 5962 03/15/93 10:50 EST
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Date:Mar 15, 1993
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