Unico American Corporation, an insurance holding company, has reported net income of $0.7m or $0.13 per share for the second quarter of 2011, compared to $0.4m or $0.08 per share in the comparable quarter last year.
Total revenues for the quarter dropped to $8.6m from $9.4 m in the previous year quarter.
Net premium earned for the quarter were $671m, compared to $7.08m for the same quarter last year.
For six months, net income rose to $1.82m or $0.34 per share from $947 thousand or $0.18 per share in the year-ago period.
Total revenues for six months was $17.2m, compared to $19.3m in the same period last year.
Unico underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty, and health insurance through its agency subsidiaries; and through its other subsidiaries provides insurance premium financing and membership association services.