But the 2002 figure does include a 14-cent charge related to losses at General Electric's insurance unit.

St. Paul will pay $420 million to acquire an insurance unit from Kemper.

The analysts said the company was probably also reviewing the future of its insurance unit, which had revenue last year of $456.3 million.

Two years ago, the insurance unit turned around, and is now contributing significantly to Xerox profits.

Yet Reliance's insurance unit is investing $1 million in this risky venture.

The insurance unit was put on the auction block last November.

American General said it was likely to sell only its large insurance unit and retain the rest of its operations.

Cigna, with a record of turning around unprofitable insurance units, should fare better.

Problems at the insurance unit have continued to unsettle investors.

It will retain its larger general insurance unit.