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Harleysville Group Reports Strong Fourth Quarter And 2002 Results; Credits Continuing Success In Execution Of Small Business Strategy; Highlights: * Fourth quarter net income per share increases 14 percent * Statutory combined ratio* for 2002 improves to 101.9 percent * Commercial lines net written premiums grow 14 percent in quarter, 16 percent in 2002 * Commercial lines combined ratio improves to 98.7 percent in quarter, 99.5 percent for year.
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PR Newswire
- Article date:
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February 18, 2003
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Copyright informationCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Harleysville Group Inc. today reported strong fourth quarter and full-year 2002 results, citing continuing improvements in its underwriting profitability and solid growth in its small commercial business.
Diluted net income per share for the fourth quarter of 2002 was $0.57, versus $0.50 in the fourth quarter of 2001, a gain of 14 percent. On a per share basis, the company had $0.04 of realized investment gains in the fourth quarter of 2002, compared to $0.10 in the fourth quarter of 2001. For the 12 months, diluted net income per share was $1.53 in 2002, compared to $1.46 in 2001. Realized investment losses amounted to $0.39 per share and $0.07 per share in 2002 and ...
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