Infinity Posts Higher Quarterly Profit
NU Online News Service, July 31, 4:08 p.m. EDT? Infinity Property and Casualty Corp. posted a $12.3 million second-quarter profit, higher than the $2.1 million in income posted one year ago. The company attributed this improvement to its cost-cutting effort through consolidations.
"This success is a measure of our commitment to maintain adequate rates and the aggressive steps we have taken to reduce operating expenses through the consolidation of our operations," commented James Gober, chief executive officer at Infinity. "We also continue to benefit from the favorable effects of lower claims frequencies and moderate claim severities," Mr. Gober said.
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