INFINITY’S INCOME MORE THAN DOUBLES ON IMPROVED UNDERWRITING

US non-standard motor insurer Infinity Property and Casualty saw its fourth-quarter net earnings nearly double to $21.6m from $11.1m, as underwriting income more than doubled to $25.7m from $11.1m. With earned premiums rising 11.2% to $372.6m and claims costs increasing 9.8% to $287.1m, the combined ratio improved by 3.6 points to 93.1%. For the full year, the Alabama-based group’s net income fell 16.3% to $43.1m as underwriting income declined 22% to $46.1m. The combined ratio for the year added 1.1 points to 96.7%, as earned premiums rose 3.3% to $1.39bn and claims costs climbed 5.9% to nearly $1.20bn.