PMA Capital Swings To Profit
NU Online News Service, Aug. 7, 10:45 a.m.EDT?PMA Capital Corporation, a Philadelphia-based holdingcompany for several Mid-Atlantic and Southern insurers, posted$12.2 million for its second-quarter profit, in contrast to theyear-ago period when the company reported a net loss of $29.7million.
One of the positive factors reported by PMA was the improvementin its investment income--for the last quarter, PMA reported $2.9million in investment gains, compared to net realized investmentlosses of $11.4 million posted one year ago. The overall lossesfrom the year-ago period also reflected a $28 million charge toexit from its excess and surplus lines market.
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