Insurer reports rise in income

Tuesday, Sept. 30, 2003 | 11:21 a.m.

Employers Insurance Co. of Nevada on Monday reported second-quarter net income of $24.8 million, compared with a second-quarter loss of $4.9 million a year earlier.

Second-quarter premiums written in the most-recent quarter reached $45.5 million, up from $32.4 million a year ago.

Results were helped by investment gains of $10.2 million. That compares to investment losses of $5.6 million in the year-ago quarter.

The company, the leading writer of workers' compensation insurance premiums in Nevada, also reported assets of $1.3 billion and a policyholder surplus of $273.6 million.

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