Insurance holding firm Unico American Corp. has reported a net income of $0.6m or $0.12 diluted earnings per share, compared to $0.8m, or $0.14 diluted earnings per share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 were $8.3m, compared to $8.7m for the same period a year ago.
For the full year of 2011, the company posted a net income of $3.7m, $0.70 diluted income per share, compared to $2.3m, $0.44 diluted income per share, for the same period last year.
Total revenues for the full year of 2011 were $34.6m, compared to $37.1m for the same period prior year.
As of 31 December 2011, the company had cash and investments (at amortized cost) of $128.5m while $89.9m, or 70% of these investments were fixed maturity investments, and 82% of those fixed maturity investments were US treasury securities.