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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (2194)	8/5/2000 9:18:50 AM
From: donjuan_demarco	Read Replies (1) \| Respond to of 4155

CNC losing insurance business: =DJ Ceres Group CEO Sees 2Q EPS in 29-Cent To 33-Cent Range 04 Aug 15:29 By Ann Keeton Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)--Ceres Group Inc.(CERG), the Ohio insurance company, expects to report second-quarter earnings in a range of 29 cents to 33 cents a share, Peter Nauert, chairman, president and chief executive officer, told Dow Jones Newswires. For the second half of 2000, he expects earnings to fall in a range of 55 cents to 59 cents a share. The company plans to report second-quarter results Tuesday before the market opens. Nauert said sales of annualized new premiums rose 10% in the second quarter, to $81.7 million. As reported earlier, Nauert said he expects third-quarter sales to be "relatively level" with second-quarter results. He said fourth-quarter sales should improve with the introduction of new products. Currently, no analysts are following the two-year-old company, which in 1999 reported a loss of $5.01 a share. Nauert said Ceres should get new business this year from agents looking to replace their business with financially troubled Conseco Corp. (CNC) "We have had a lot of calls from agents," Nauert said. The company this month will roll out its new e-commerce venture, QQ Link.com. to agents across the country. The business-to-business insurance exchange will allow consumers to access insurance information and purchase insurance on the Web site or through a local agent. The site will offer information about Ceres' and, later, other insurance companies' products. -By Ann Keeton, Dow Jones Newswires; 312-750-4120 (END) DOW JONES NEWS 08-04-00