This week General Casualty Insurance Companies announced its 2004 first-half results, which show an improvement over the Sun Prairie-based insurer’s 2003 year-end results.
General Casualty reported a first-half net income of $28.6 million and further strengthened its policyholder surplus by $21.5 million. The statutory combined ratio was 100.2, an improvement over the 101.3 reported for 2003.
Net written premium increased to $510.3 million. Pete McPartland, General Casualty’s president and CEO, said, “We had a good first half of the year, and we forecast an even better second half. We are pleased with our position in the market and our excellent book of business. “
While the company will continue to report results separately for the two companies, McPartland noted that General Casualty now oversees the management of Southern Guaranty Insurance Companies, based in Montgomery, Ala. “The addition of Southern Guaranty has opened the company to new, favorable markets in which to do business. We are working hard to create opportunities to help them grow.”
For more information please contact Anne M. Smith.