Highlands Expects Significant Loss For Q4, Year

March 13, 2001

Highlands Insurance Group Inc. announced Monday it expects to report a significant loss for the fourth quarter and the full year.

As a result, the company is looking to hire an investment banker to explore financial alternatives. The company said the losses are due to an increase in loss and expense reserves from commercial multi-peril and workers’ compensation.

The company was expected to release 2000 earnings on March 15, but said it now expects to release its results as “soon as practicable in the next several weeks.”

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