Acceptance Insurance posts $41,678 October net operating loss

By Caroline Salls

Pittsburgh, Nov. 12 - Acceptance Insurance Cos. Inc. posted a $41,678 net operating loss for October on $560 of net investment income, according to its monthly operating report filed with the Securities and Exchange Commission.

The figures compared to the $17,832 net operating loss reported for September on $550 of net investment income.

The net loss for October was $779,004, narrowing from a $21.52 million September net loss.

Acceptance had $4,422 of cash at Oct. 31, down from $5,431 at the end of September.

Acceptance Insurance, a Council Bluffs, Iowa-based insurance company, filed for bankruptcy on Jan. 7, 2005 in the U.S. Bankruptcy Court for the District of Nebraska. Its Chapter 11 case number is 05-80059.

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