yesterday announced an operating loss of $92.4 million or $2.79 a share in the second quarter ended June 30. The company had posted a profit of $19.1 million or 58 cents a share in the same quarter last year. The losses came from more claims hitting the company and from discontinued Lloyd's of London operations.

The company's net loss was $106.8 million or $3.22 a share compared to a profit of $20.1 million or 61 cents a share.

For the first six months of 1999 net operating loss from continuing operations was $73 million compared to $38.4 million.

Capital Re chief executive Jerome Jurschak said the pending merger with ACE will give the company greater financial flexibility and a chance to build operations.