Reliance Group Holdings Inc.: The New York-based...

Reliance Group Holdings Inc.: The New York-based insurance and real estate holding company posted a second-quarter net loss of $6 million, contrasted with a profit of $13.1 million a year ago. Revenue totaled $911 million, a gain of 22%. The results reflected settlement of certain lawsuits and a $1.7-million pretax loss on portfolio investments and came despite a strong performance in its life insurance operations.