Infinity Property and Casualty Corporation, a provider of personal automobile insurance, has said that its gross written premium grew 10.1% during the second quarter of 2011 compared with the same period in 2010, with growth in six of the eight Focus States.
Compared with the second quarter of 201o results, the firm’s net and operating earnings declined in the second quarter of 2011, primarily as a result of unfavorable development on prior accident year loss and loss adjustment expense reserves.
Total revenues for the first second of 2011 were $264.9m, compared to $237.3m in the same quarter a year ago.
The company earned premium of $251.6m for the second quarter, compared to $225.6m in the same period last year.
Infinity president and CEO James Gober said the company will continue to enjoy strong growth in many of the Focus States.
"In addition we are pleased that the accident year combined ratio for 2011 continues to improve," Gober said.