SAN FRANCISCO /PRNewswire/ — State Compensation Insurance Fund announced today that it ended 2010 with $1.1 billion in net premium earned, and $171 million in net income.
CEO and President Tom Rowe shared the news in an online annual report.
The financial performance report shows that State Fund’s 2010 net income of $171 million was $28 million higher than the $143 million that the carrier recorded in 2009.
“We have successfully managed problematic market cycles throughout our 98-year history of serving California businesses and their injured workers. We have served California for nearly a century and are positioned to continue to do so because of our financial strength and careful underwriting and investment practices,” Rowe said in the announcement.
The report is available here.
Source: PRNewswire