(August 16 – 12:30 ET) – Co-operators General Insurance Company is reporting reduced income for the second quarter ended June 30. The property and casualty insurer reports net income was $15.7 million, compared to $21.4 million a year ago.

Gross written premiums rose 19.1% to $415 million, compared to $348 million in the second quarter of 1999. The claims ratio for the quarter was 71.8%, compared to 69.4% during the comparable period last year. The combined ratio of claims and operating expenses was 103.7%, compared to 98.7% for the second quarter of 1999.

Earnings per common share were 63¢ for the second quarter compared to 92¢ for the same period last year.
-IE Staff