Seattle-based insurer Safeco reported yesterday that its second-quarter income dropped 7 percent as its combined ratio increased 3 points over the same period last year.
Second-quarter net income dropped $14 million to $186 million, or $1.75 a share. Revenues in the period rose slightly by less than 1 percent to $1.5 billion.
The combined ratio rose to 89.7 from 86.7 for the same period last year.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
