Fairfield, Ohio-based insurer Ohio Casualty Corp. reported second-quarter net income of $32.7 million, or 52 cents per diluted share, up 67 percent from $11 million, or 18 cents per diluted share, a year ago.
The company also reported a statutory combined ratio of 98.2 percent for second quarter and 99.5 percent for the first half of the year — both are 8.0 point improvements over the same period last year. CEO Dan Carmichael said the ratio was the company’s best second-quarter ratio since 1988.
Carmichael attributed the company’s results to a 7.5-point improvement in its loss adjustment expense ratio thanks to a decline in claim frequency, fewer large claims and a better priced book of business. Increasing competition held back net premium growth.
Topics Profit Loss Ohio Casualty
Was this article valuable?
Here are more articles you may enjoy.
Study Finds ‘Alarming’ High Flood Risk for 17M Americans on Atlantic, Gulf Coasts 
Florida Sunshine: Big Improvement in Combined Ratio in 2025, Gallagher Says 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Business Interruption Claims Arising From the Middle East Conflict 
