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WESTBRIDGE CAPITAL COMPLETES ACQUISITION OF HEALTH INSURANCE BUSINESS

 FORT WORTH, Texas, March 30 /PRNewswire/ -- Westbridge Capital Corp. (AMEX: WBC) today announced that it has completed the purchase, for $600,000 in cash, of a $4 million block of Medicare Supplement insurance policies through its National Foundation Life Insurance (NFL) subsidiary. The seller was Life and Health Insurance Company of America, a privately held concern in Philadelphia.
 James W. Thigpen, Westbridge president, said: "We expect this block of business, which represents the policies of insureds in 41 states, will be highly profitable."
 Westbridge Capital Corp. through NFL and other companies in which it owns an equity interest, underwrites and sells individual Medical Expense, Scheduled Benefits, and Medicare Supplement insurance through independent agents in nonurban areas in the southern, southwestern and western U.S. The company recently reported that net income in 1992 rose to $2,896,000, equal to $.66 per share, from $814,000, or $.20 per share, in 1991. Results for 1992 included the cumulative effect of a change in accounting principle, amounting to $1,134,000, or $.26 per share.
 -0- 3/30/93
 /CONTACT: Michael C. Batte, vice president and chief financial officer of Westbridge Capital Corp., 817-878-3300/
 (WBC)


CO: Westbridge Capital Corp. ST: Texas IN: INS SU: TNM

TS-OS -- NY034 -- 0949 03/30/93 10:32 EST
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Publication:PR Newswire
Date:Mar 30, 1993
Words:213
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