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PICOM TRADING STARTS ON NASDAQ

 OKEMOS, Mich., June 3 /PRNewswire/ -- Physicians Insurance Company of Michigan (PICOM) will begin trading today on the NASDAQ Exchange, under the symbol PICM, Victor T. Adamo, PICOM's president, announced.
 PICOM is Michigan's leading professional liability insurer for health care professionals. Founded in 1980, the company has been traded on the over-the-counter market since 1982.
 "The NASDAQ SmallCap Market listing will enable the company to be followed by additional analysts and brokers and will greatly increase our exposure to prospective investors on a national basis," Adamo noted.
 At the close of the first quarter, the company listed total assets of $284.2 million and shareholders' equity of $57.3 million, equivalent to $21.41 per share, based on 2.7 million shares outstanding.
 Per share trading range (Bid Price) for 1992 as reported in the National Quotation Bureau was 6-3/4 to 13-3/4.
 Principal market makers are First of Michigan, The Ohio Company and Stifel, Nicolaus & Company.
 -0- 6/3/93
 /CONTACT: Lori Daggy of Physicians Insurance Company of Michigan, 517-349-6500; or Mike Marcotte of Marcotte Public Relations, 313-656-3873, for Physicians Insurance Company of Michigan/
 (PICM)


CO: Physicians Insurance Company of Michigan ST: Michigan IN: INS SU:

ML -- DE017 -- 5139 06/03/93 15:53 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:206
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