NU Online News Service, Aug. 3, 4:10 p.m. EDT
A combination of continued underwriting actions and improvements in the settlement process led to Nationwide Mutual Insurance Company posting a 45 percent increase in net income for the first half of 2010 compared to last year.
"A combination of these factors in personal lines and commercial lines led to a favorable result on prior year reserves," Mark R. Thresher, chief financial officer, told NU Online News Service. The company also continues to evaluate geographic risk, "getting pricing lined up with the risk we are accepting," he said.
Nationwide reported 2010 first-half net income of $483 million compared to $332 million after the first six months last year.
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