Reliance Group Holdings Inc.: The insurance and...
From Times Staff and Wire Reports
Reliance Group Holdings Inc.: The insurance and investment company reported a net loss of $61.7 million in the third quarter, contrasted with an $11.6-million profit a year ago. Revenue rose 33% to $1.05 billion. The New York firm said the results included pretax losses on investments of $81.9 million due to writedowns and sales of certain fixed income and equity securities.
