Allmerica Posts Narrower Profit

NU Online News Service, April 29, 3:29 p.m.EDT?Allmerica Financial reported that its first-quarterprofit shrank by 22 percent to $37.1 million, or 70 cents pershare, driven down by a smaller investment income and a decreasedprofit from its financial services unit.

In the corresponding period last year, the insurer posted $47.9million, or 90 cents on a per-share basis.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.