Highlands Reports Net Loss of $277M in 4Q '01

Highlands Insurance Group, Inc. (OTC Bulletin Board: HIGP), a property and casualty insurer, today reported a net loss of $276.9 million ($21.07 per share) for the fourth quarter of 2001, compared with a net loss of $115.1 million ($8.70 per share) in the fourth quarter of 2000. The Company's results for the fourth quarter of 2001 reflect loss reserve strengthening for the Company's commercial multiple peril, commercial automobile, general liability and workers' compensation lines of business, mainly for business written in 2000 and 2001. The Company also strengthened reserves for asbestos and...