Unitrin Increasing Reserves, Reducing Comp Line

Unitrin, Inc. (NYSE:UTR) announced Friday that it will be increasing its property and casualty insurance reserves in the third quarter of 2002 to reflect adverse development of prior accident year losses. Management estimates that the reserve additions will be in the range of $50 million to $60 million before-tax, or $33 million to $39 million after-tax. The reserve increases reflect developing loss trends primarily related to construction, mold, automobile liability and product liability loss exposures in its commercial lines of business. The company expects to reduce policies in force in cer...