|
|
Article: Atlantic Mutual Reports Third Quarter Financial Results.
- Article from:
- Business Wire
- Article date:
- November 16, 1998
CopyrightCOPYRIGHT 1998 Business Wire. 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)
|
NEW YORK--(BUSINESS WIRE)--Nov. 16, 1998--The Atlantic Mutual Companies (Atlantic) today reported statutory financial results (unaudited) for the third quarter and nine months ended September 30, 1998.
Net income for the three months ended September 30, 1998 was $7.6 million, compared to $12.6 million for the same period in 1997. On a year to date basis, net income amounted to $18.3 million compared to net income of $24.4 million for the first nine months of 1997.
Atlantic reported heavier than normal weather related catastrophe losses for the quarter, while experiencing better than expected results from its core business areas. The catastrophe losses ...