EMC Quarterly Net Is Up 18 %
NU Online News Service, Feb. 25, 1:42 p.m. EST?EMC Insurance Group Inc. said its net income for the 2003 fourth quarter rose on a year-over-year basis, up 18 percent to $6.09 million from $5.17 million posted during the 2002 fourth quarter. [@@]
The Des Moines, Iowa-based insurer said higher premium rates and the improved quality of its risks had powered the results, which included a 26 percent rise in full-year 2003 net income to $20.35 million, compared to $16.10 million reported in 2002.
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