FPIC Insurance Group has reported total revenues of $49.3m for the second quarter of 2010, an increase of 7.4% compared to $45.8m for the same quarter in 2009.
The company’s operating income were $7m, or $0.71 per share compared to $8.2m, or $0.72 per share, for same quarter in 2009.
Net premiums earned for the second quarter of 2010 were $41.8m compared to $37.6m for the same period last year.
For the quarter ended June 30, 2010, the company posted net income of $7.5m, or $0.76 per share, compared to $9.2m, or $0.81 per share, for the same period last year.
John Byers, president and CEO of FPIC Insurance Group, said: “We are pleased to report strong second quarter results, which reflect the continuation of overall favorable claims trends and the success of our business development and capital management initiatives.
“We also continued to achieve solid book value per share growth. We remain a well capitalized and financially strong organization committed to driving sustainable shareholder value.”