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PROVIDENT AMERICAN REPORTS RESULTS

 PROVIDENT AMERICAN REPORTS RESULTS
 NORRISTOWN, Pa., Nov. 3 /PRNewswire/ -- Provident American


Corporation (NASDAQ: PAMC), an insurance holding company, announced today that for the three months ended Sept. 30, 1992, it had net income from operations of $851,000 or $.10 per share on gross revenue of $19,589,000 compared to income from operations of $27,000 or nil per share, on gross revenue of $19,935,000 for the three months ended Sept. 30, 1991.
 For the nine months ended Sept. 30, 1992, Provident had a loss from operations of $217,000 or $.03 per share on $58,342,000 of gross revenue. This compares with income from operations of $132,000 or $.02 per share, on $50,049,000 of gross revenue for the nine months ended Sept. 30, 1991.
 Gross realized investment gains amounted to $1,087,000 and $1,244,000 for the three and nine month periods ended Sept. 30, 1992, respectively. For the comparable periods of 1991, gross realized investment gains were negligible.
 Operating results, excluding investment gains, continued to show improvement during the third quarter, principally the result of reduced expenses and improving medical loss ratios.
 During the third quarter the company successfully launched the initial marketing campaign for The Seniors Coalition Association, using both direct and agency sales approaches.
 The company continues to make substantial investments in the development of the pre-need market with the objective of creating a multi-dimensional marketing program, with the endorsement of The Seniors Coalition, to sell pre-need life insurance using both direct response and agency techniques.
 PROVIDENT AMERICAN CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (000s Omitted)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Accident and health
 premiums, gross $14,786 $14,918 $44,872 $36,561
 Life insurance premiums 2,895 4,421 10,000 11,815
 Other revenue 1,908 596 3,470 1,673
 Total gross revenue 19,589 19,935 58,342 50,049
 Less accident & health
 reinsurance (7,957) (8,495) (24,559) (21,240)
 Total net revenue 11,632 11,440 33,783 28,809
 Expenses 10,717 11,388 33,869 28,609
 Income (loss) before taxes 915 52 (86) 200
 Tax expense 64 25 131 68
 Net income (loss) 851 27 217 132
 Income (loss) per share $.10 --- $(.03) $.02
 /delval/
 -0- 11/3/92
 /CONTACT: Anthony R. Verdi, CFO of Provident American, 215-279-2500/
 (PAMC) CO: Provident American Corporation ST: Pennsylvania IN: INS SU: ERN


JS-LJ -- PH020 -- 2167 11/03/92 16:08 EST
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Publication:PR Newswire
Date:Nov 3, 1992
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