State Compensation Insurance Fund today announced it earned $143 million in net income in 2009, up from $75 million for the prior year. In its 2009 Annual Report, the company noted it has an increase of $161 million in policyholders’ suprlus.
The new report noted the company has a strengthened balance sheet and capital base resulting from a strong investment portfolio that earned an NAIC 1 rating. State Fund ended 2009 with $1.25 billion in net premium earned, compared to $1.66 billion in 2008. Net investment income was $912 million compared to $896.2 million in 2008. Its assets base was valued at $20.6 billion down from $21.1 billion in 2008.
Topics California Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
More Americans Are Moving Away From Flood Risk Than Toward It 
How Insurers Know When It’s Time to Scale AI 
Intersecting Risks and the Future of Construction Insurance 
