EMC Insurance reports lower weight in the storm losses T1
Des Moines, Iowa (AP) - Insurance Group, EMC said in the first quarter earnings fell 44%.
The Des Moines-based companies, said the storm losses more than doubled to $ 5.7 million. In addition, $ 2.9 million deduction for the value lost in securities, like investments.
Profits were $ 8.2 million, or 60 cents per share of $ 14.7 million, representing a share of $ 1.07 a year ago.
CEO Bruce Kelley said more than half of losses in February storm occur when a storm system in Arkansas, Mississippi and Kentucky.
EMC is a property damage and reinsurance companies.
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