Reinsurance Company, has announced a net loss of $900,000, or 22 cents per share, for the quarter ended June 30. Net income for the same period last year stood at $1.7 million.

For the six months ended June 30, the company announced net income of $2.2 million, compared to $2.3 million during the first half of 1999.

A Delphi press release said revenues of $2.1 million for the quarter and $8.7 million for the half year consisted primarily of net investment income on the company's insurance reserves.

"While it was a somewhat challenging investment environment in the second quarter, net income for the six months is ...54 cents per share,'' said Colin O'Connor, Delphi's president and CEO. "Our long duration insurance reserves allow us the opportunity to invest with a long term horizon and garner higher returns than are available to most reinsurers. The opportunity should expand with additional capital resources.''