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Jacksonville, Fla.-based insurer The Main Street America Group said its 2007 net income increased 20 percent over the previous year, the best financial results in the company’s 84-year history.

The super regional insurer said net income rose by $15 million to $88 million for the year, leading to a return on equity of 17.8 percent, two percentage points higher than in 2006. The company also reported its combined ratio dropped a half-point during the year to 95.8.

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