Camico Rebounds to Profit in 2010
Insuror Camico returned to profitability for the year ended December 31 although its underwriting income remained down. However, losses were also down as were expenses and the company posted net income of $945,000, compared to a 2009 loss of $3.5 million.
Camico reported $38.2 million in premiums written in the most recently ended year, down 37 percent from $60.8 million the prior year. Net premiums earned were $23.5 million, 25 percent from $29.3 million a year earlier. The company said policy holder surplus increased to $35 million, up $3 million.
