The Commerce Group Earnings Rise
NU Online News Service, Oct. 27, 2:40 p.m. EST?The Commerce Group Inc., a Webster, Mass.-based insurer, posted $22.9 million in profit for its third quarter, nearly doubling the $12.6 million in income it posted one year ago?thanks to improved investment income and higher earned premiums, the company said.
The company, the largest personal auto insurer in Massachusetts, had net realized investment gains of $2.6 million for the third quarter. In contrast, the insurer had recorded $13.4 million in net realized investment loss during the corresponding period last year.
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