Ohio Casualty's 3Q Nets $17.2 Million

November 7, 2003

Fairfield-based insurer Ohio Casualty Corp posted a third-quarter profit of $17.2 million, or 28 cents per diluted share, compared with a year-ago net loss of $69.9 million, or $1.15 per diluted share.

Across all lines, the company posted a statutory combined ratio of 104.7 percent, a 23.8 point improvement and the best showing in five years, according to CEO Dan Carmichael.

Net income before realized gains and losses of $13.4 million versus a net loss before realized gains and losses of $66.3 million a year ago.

In spite of its third-quarter showing, Ohio Casualty shares were down 5 cents to $15.53 on volume of 194,613.