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Life Health > Life Insurance

InsWeb Reports Smaller 2nd Quarter Net Loss

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NU Online News Service, July 18, 3:50 p.m. – InsWeb Corp., Sacramento, Calif., is reporting $2.7 million in net losses for the second quarter on $6.3 million in revenue, compared with $7.2 million in net losses on $5.6 million in revenue for the second quarter of 2001.

The Web-based insurance broker sells term life insurance as well as auto insurance and other types of personal insurance. Transaction revenue from the sale of term life coverage held at steady at $1.1 million.

The company still has $33 million in cash and short-term investments, down from $36 million at the end of 2001.


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