NU Online News Service, Feb. 1, 12:57 p.m. – Unitrin Inc., Chicago, is reporting a $12 million net loss for the fourth quarter of 2001 on $513 million in revenue, compared with $28 million in net income on $465 million in revenue for the fourth quarter of 2000.
Net earnings for the latest quarter include investment income and gains on investments sold during the quarter.
The operating loss, which excludes investment returns, was $26 million, Unitrin says.
Unitrin sells life and health insurance along with other insurance and financial services products. The life and health unit generated $29 million in net income for the fourth quarter of 2001 on $202 million in revenue, down from $31 million in net income on $206 million in revenue, the company says.