Losses from a dozen storms classified as catastrophes during the second quarter drove down net income for Harleysville Group Inc. despite an increase in net written premiums.
Satisfaction is difficult to guarantee, particularly when property/casualty insurers deal with claimants, but both Jonathon Young and Peter McMurtrie focus on doing just that for Harleysville Insurance and Grange Insurance, respectively.
Harleysville Group Inc. said it expects recent estimated catastrophe losses to reduce 2010 first quarter operating income by $0.49 per share after taxes and impact the statutory combined ratio by 10 points.
Harleysville Group Inc. said underwriting discipline helped it post 2009 fourth-quarter net income of $24.2 million, a 426 percent increase over the period in 2008 when the figure was $4.6 million.
Joining insurance industry efforts around the globe, Harleysville Insurance and its employees have donated more than $50,000 toward the ongoing efforts to assist those impacted by the earthquake that struck Haiti on Jan. 12.
An effort led by a variety of insurance industry groups to help independent insurance agencies speed their workflow with faster technology was commenced today in Iowa and New York.