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FREMONT GENERAL CORP. POSTS A 28 PERCENT INCREASE IN FIRST QUARTER EARNINGS PER SHARE

 FREMONT GENERAL CORP. POSTS A 28 PERCENT INCREASE
 IN FIRST QUARTER EARNINGS PER SHARE
 SANTA MONICA, Calif., April 29 /PRNewswire/ -- Fremont General Corp. (NASDAQ: FRMT) announced for the three months ended March 31, 1992, net income was $8,278,000 or $1 per share, compared to $6,445,000 or 78 cents per share for the like quarter a year ago. The sale of a discontinued subsidiary company during the first quarter of 1991 resulted in a reduction in earnings of $964,000 or 12 cents per share.
 Total first quarter revenues were $137,658,000, compared to $148,615,000 for the corresponding period last year. This decline in revenue was primarily attributed to lower workers' compensation insurance premium because of continued tightening of underwriting standards. Net investment income for the first quarter of 1992 increased to $20,229,000 vs. $19,735,000 for the first quarter of 1991. Contributing to this increase is approximately $2 million in realized gains in 1992 vs. $700,000 for 1991. At the conclusion of the first quarter, the unrealized gain in the company's investment portfolio was approximately $28 million.
 The company's workers' compensation insurance operations continued to post stable pre-tax income. For the first quarter of 1992, pre-tax income was $10.0 million vs. $10.3 million for the same quarter in 1991.
 The financial service business segment which includes the thrift and loan, commercial finance, life insurance and premium finance companies, posted a 67 percent increase in first quarter pre-tax income. Financial services pre-tax income for the first quarter was $3.5 million vs. $2.1 million in the first quarter of 1991.
 Fremont General Corp. is a holding company, engaged through subsidiaries in insurance and financial service businesses.
 FREMONT GENERAL CORP. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Thousands of dollars, except per share data)
 Three months ended
 March 31,
 1992 1991
 Revenues
 Premiums $99,208 $114,138
 Net investment income 20,229 19,735
 Loan interest 16,156 13,327
 Other revenue 2,066 1,415
 Total revenues 137,658 148,615
 Expenses
 Loss and loss
 adjustment expenses 73,001 85,388
 Operating costs and
 expenses 35,119 37,981
 Dividends to policyholders 7,376 6,857
 Interest expense 10,206 8,483
 Total expenses 125,702 138,709
 Total 11,956 9,906
 Provision for income taxes 3,678 2,497
 Income before discontinued
 operations 8,278 7,409
 Discontinued operations 0 (964)
 Net income $8,278 $6,445
 (a) Per share data
 Income before
 discontinued
 operations $1.00 $0.90
 Discontinued operations 0.00 (0.12)
 Net income $1.00 $0.78
 (a) Based on weighted average shares:
 1992 -- 8,289,000
 1991 -- 8,249,000
 -0- 4/29/92
 /CONTACT: W.R. Bailey of Fremont General, 213-315-5500/
 (FRMT) CO: Fremont General Corp. ST: California IN: FIN INS SU: ERN


EH-JL -- LA007 -- 4125 04/29/92 06:00 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
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