Unitrin, a US-based diversified insurance holding company, has reported total revenues of $651.3m for the second quarter of 2010, a decrease of 10.7% compared to $729.9m for the quarter in 2009.
Earned premiums were $545.8m and $594.5m for the second quarters of 2010 and 2009, respectively, a decrease of $48.7m. Earned premiums decreased in each of the segments comprising the company’s insurance operations due, in part, to planned reductions.
For the quarter ended June 30, 2010, the company posted net income of $37.8m, or $0.61 per share, compared to $41.9m, or $0.67 per share, for the same quarter in 2009.
Don Southwell, chairman, president and CEO of Unitrin, said: “Our Career Agency, Kemper and Unitrin Specialty segments all continue to report solid operating results and Unitrin Direct reported positive bottom line results for the fourth consecutive quarter.
“Earned premiums declined largely in line with our expectations as a result of the actions we took in 2009 and also due to the slow economy and the continuing soft property and casualty insurance market. Kemper is now a registered service mark of Unitrin, a service mark we purchased in the second quarter of 2010.”