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FIRST AND FINAL ADD TO INTEGON CORPORATION EARNINGS

 / INTEGON CORPORATION EARNINGS - FIRST AND FINAL ADD /
 INTEGON CORPORATION AND SUBSIDIARIES
 STATEMENTS OF OPERATIONS
 (In Thousands, Except Per Share Data)
 (Unaudited)
 Historical Historical
 Six Months Ended Three Months Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Net Premium Written $91,315 $85,578 $50,614 $44,224
 Change in Unearned
 Premium (5,807) (8,081) (5,913) (4,177)
 Premiums Earned 85,508 77,497 44,701 40,047
 Loss and Loss
 Adjustment Expenses 48,042 47,593 24,913 25,647
 Underwriting Expenses 22,701 17,003 12,479 8,757
 GAAP Underwriting
 Gain 14,765 12,901 7,309 5,643
 Net Investment Income 7,979 5,974 4,241 2,956
 Other Income, Primarily
 Financing 1,094 1,645 627 866
 Less: Amortization of
 Goodwill 830 871 411 433
 Interest Expense 4,581 7,219 1,953 3,579
 Pretax Operating
 Income 18,427 12,430 9,813 5,453
 Income Tax Expense 6,093 4,442 3,289 1,975
 Aftertax Operating
 Income 12,334 7,988 6,524 3,478
 Net Realized Invest-
 ment Gains 906 323 573 317
 Income of Continuing
 P&C Business 13,240 8,311 7,097 3,795
 Preferred Dividend (206) (94) (130) (48)
 Available to Common 13,034 8,217 6,967 3,747
 Income of Non-P&C
 Business Sold (195) 11,284 0 9,337
 Preferred Dividend (51) (142) 0 (73)
 Available to Common (246) 11,142 0 9,264
 Extraordinary Item, Net(2,141) 0 0 0
 Income Available to
 Common $10,647 $19,359 $6,967 $13,011
 Per Share:
 Aftertax Operating
 Income $0.92 $0.97 $0.42 $0.42
 Net Realized Investment
 Gains 0.06 0.04 0.04 0.04
 Income of Continuing
 P&C Business 0.98 1.01 0.46 0.46
 Preferred Dividend (0.01) (0.01) (0.01) 0.00
 Available to Common 0.97 1.00 0.45 0.46
 Income of Non-P&C
 Business Sold (0.02) 1.36 0.00 1.13
 Extraordinary Item, Net (0.16) 0.00 0.00 0.00
 Income Available to
 Common $0.79 $2.36 $0.45 $1.59
 Weighted Average Shares
 Outstanding 13,458 8,199 15,643 8,199
 -0- 7/23/92
 /CONTACT: Turner Coley of Turner Coley Associates, 919-760-3000, for Integon Corporation/
 /END - FIRST AND FINAL ADD/
 (IN) CO: Integon Corporation ST: North Carolina IN: FIN SU: ERN


CM -- CH001 -- 2373 07/23/92 10:09 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
Words:416
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