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 millionsecond-quarter profit, higher than the $2.1 million in incomeposted one year ago. The company attributed this improvement to itscost-cutting effort through consolidations.
"This success is a measure of our commitment to maintainadequate rates and the aggressive steps we have taken to reduceoperating expenses through the consolidation of our operations,"commented James Gober, chief executive officer at Infinity. "Wealso continue to benefit from the favorable effects of lower claimsfrequencies and moderate claim severities," Mr. Gober said.
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