News from Sacramento Bee:

Grew gross written premiums by 3.1% Improved underwriting results by $ 24.7 million Improved combined ratio by 6.0 percentage points to 93.6% Increased second quarter net income by $ 16.5 million Increased total mutual policyholders’ equity by $ 81.6 million since 2011 year end

WATERLOO, ON, Aug. 23, 2012 /CNW/ – Economical Insurance (“Economical”), one of Canada’s leading property and casualty insurance companies, today announced consolidated financial results for the three months and six months ended June 30, 2012.

Economical reported consolidated net income of $ 39.7 million for the second quarter of 2012 compared to $ 23.2 million a year ago. Economical posted a combined ratio of 93.6% for the second quarter, a significant improvement of 6.0 percentage points from the same quarter a year ago. Year to date net income for the first half of 2012 increased $ 28.5 million to $ 80.6 million, w……….. continues on Sacramento Bee.

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