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MIDLAND REPORTS RESULTS FROM HURRICANE ANDREW

 MIDLAND REPORTS RESULTS FROM HURRICANE ANDREW
 CINCINNATI, Sept. 21 /PRNewswire/ -- The Midland Company (AMEX: MLA)


today announced that the company's wholly-owned insurance subsidiary, American Modern Home Group, currently estimates its losses from Hurricane Andrew will be lower than expected, approximating $2,300,000 on an after-tax basis. This loss would reduce Midland's third quarter results by an estimated $.77 per share on an after-tax basis. J.P. Hayden, Jr., Midland's chairman, stated, "The level of hurricane losses AmericaM?odern Home has experienced to date has been dramatically lower than was initially anticipated. Considering the tragic devastation that has swept through Florida and parts of Louisiana, and the losses it inflicted upon our industry, we consider ourselves extremely fortunate. Our losses were about equally divided between Southern Florida and the State of Louisiana. We have had teams of expertly trained company personnel along with senior management in all affected areas, and have established three claims offices in key geographic areas. We believe that because of this prompt action, most of our policyholders who were affected by the hurricane have already been serviced and received their insurance proceeds. The company had no losses from Hurricane Iniki which recently hit Hawaii.
 "As previously reported, 1992 had been a favorable year for Midland with regard to weather related catastrophe losses. Even after absorbing the impact of this catastrophe, Midland's year to date underwriting profits remain very favorable."
 Midland, which is headquartered in Cincinnati, is engaged in insurance and finance operations, the transportation of bulk commodities on the inland waterways and the imprinted sportswear business.
 -0- 9/21/92
 /CONTACT: Michael J. Conaton, president, or John I. Von Lehman, vice president, 513-721-3777, both of The Midland Company/
 (MLA) CO: The Midland Company ST: Ohio IN: INS TRN SU:


BM -- CL015 -- 1653 09/21/92 12:00 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
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