EMC earnings up in third quarter
EMC Insurance Group Inc. today reported operating income of $6.3 million for the third quarter, compared with $2.5 million for the third quarter of 2014. Net income, including realized investment gains and losses, totaled $11.2 million, or 54 cents per share, compared with $2.2 million, or 11 cents per share for the third quarter of 2014. For the nine months ended Sept. 30, the company reported net income of $40.3 million, compared to $13.8 million for the same period in 2014. “Based on the good results achieved through the first nine months of the year, we now expect to achieve 2015 operating income near the high end of our guidance range,” President and CEO Bruce Kelley said in a release. The company’s board of directors also approved a quarterly dividend of 19 cents per share.