Sunday, September 19, 2010

National Interstate reports securities losses - Business Courier of Cincinnati:

http://www.daigram.com/OTHER-ITEMS/XAUAUD/
The company said it incurred about $200,000 in securitiee losses during the third or about 22 cents per sharedafter tax, for investments in , and preferredr stock; senior debt in Lehman and and subsidiaries, and in . “Similatr to many other investors, we have been impacted by the unprecedenterinvestment markets,” said Dave Michelson, presidentt and CEO, in a news release. “We continuee to monitor the developing issues and will assessx our investment portfolio asof 30, 2008, to determinw the appropriate amount of any impairment charges for theser and other securities as of that The insurer added that it holdz senior notes in Fannie Mae and Freddie Mac, wort $57.
6 million and $65.r million respectively, and $1 million in Fannie Mae subordinatesd debt. Those securities are trading at abou theiramortized cost. Richfield, Ohio-based National Interstatse is a subsidiaryof , whicyh is itself a subsidiary of Cincinnati-based American Financial (NYSE:

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