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UNITED INSURANCE COMPANIES ANNOUNCES SECOND QUARTER RESULTS

 UNITED INSURANCE COMPANIES ANNOUNCES SECOND QUARTER RESULTS
 DALLAS, Aug. 4 /PRNewswire/ -- United Insurance Companies, Inc. (NASDAQ: UICI) (UICI) reported net income for the second quarter of 1992 of $6,781,000 or $1.57 per share as compared to $3,678,000 or $0.89 per share for the same period in 1991. Net income for 1992 included $0.38 per share of gains on sales of investments as compared to gains of $0.10 per share in 1991.
 Net income for the six months ended June 30, 1992 was $12,672,000 or $2.95 per share compared to $6,937,000 or $1.68 per share for the corresponding period in 1991. For the six months, gains on sales of investments were $0.74 in 1992 compared to $0.17 in 1991.
 A comparison of operating results for 1992 and 1991 follows:
 UNITED INSURANCE COMPANIES, INC.
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Revenues $90,818,000 $74,834,000 $182,358,000 $145,000,000
 Net income 6,781,000 3,678,000 12,672,000 6,937,000
 Fully diluted
 net income
 per share $1.57 $0.89 $2.95 $1.68
 UICI Declares Stock Split
 The board of directors of UICI approved a 2-for-1 stock split, in the form of a 100 percent stock dividend, whereby each shareholder will receive one additional share of UICI stock for each share of UICI stock they currently own. The 2-for-1 split will be distributed on or about Aug. 31, 1992 to shareholders of record at the close of business on Aug. 14, 1992.
 Redemption of Debentures
 UICI also announced that it will redeem all of the remaining principal amount of its outstanding 6-3/4 percent Convertible Subordinated Debentures due 2006 on Sept. 15, 1992 at the stated redemption price of 102.7 percent. The holders of these debentures have the right to convert their debentures into common stock of UICI at the post split conversion price of $12.50 per share at any time prior to Sept. 9, 1992.
 -0- 8/4/92
 /CONTACT: Vernon R. Woelke, treasurer of United Insurance Companies, 214-960-8497/
 (UICI) CO: United Insurance Companies, Inc. ST: Texas IN: INS SU: ERN


SM -- NY048 -- 6685 08/04/92 13:09 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
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