Safeco Q1 Net Fell 10%, But Continuing Biz Rose

NU Online News Service, April 20, 11:07 a.m. EDT?Safeco Corporation said its quarterly profit fell 10 percent from the year-ago period?including results from units that were sold?but continuing operations reported a 20 percent increase in profit.[@@]

The Seattle, Wash.-based insurer reported $212 million in total profit for its 2005 first quarter, down from $236.2 million one year ago, which included $50.6 million from now-discontinued life and investments operations.

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