Nationwide Mutual Insurance Co. said operating profits from its property-casualty and life insurance operations improved during the third quarter, but expenses from other non-core businesses lowered total profits below levels a year ago.
The Columbus, Ohio, insurer owns Des Moines-based Allied Insurance. Nationwide's operating profits for the three months were $236 million, down from $304 million a year earlier. Net income, which includes certain investment losses and gains, was $85 million, compared with $208 million in 2009.-------------------------------------------------------------------------------------------------------------------------------
While AIG races to pay back the US Fed and Treasury, other insurance companies are having a good time profits wise. Maybe people are realising insurance is worth forking out for in this climate, not matter what the individual budgetary constraints.
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