NU Online News Service, Aug. 7, 12:05 p.m. – Conseco Inc., Carmel, Ind., is reporting a $26 million net loss for the second quarter on $2.1 billion in revenue, compared with a net loss of $405 million on $2 billion in revenue for the second quarter of 2000.
Operating earnings from continuing operations increased 78%, to $70 million.
Operating earnings exclude $121 million in losses and charges, including $22 million, after taxes, in losses on investments sold during the quarter; $39 million, after taxes, in losses and charges on discontinued operations; and $23 million, after taxes, on making changes in yield assumptions for annuity operations.
Conseco sells insurance, annuities, consumer loans and other products and services.