trending Market Intelligence /marketintelligence/en/news-insights/trending/__VsD7WMwD7wL3cYfsdt8w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Unico American posts Q2 net loss

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


Unico American posts Q2 net loss

Unico American Corp. reported a second-quarter net loss of $891,000, or a loss of 17 cents per share, compared with net income of $151,000, or 3 cents per share, in the year-ago quarter.

Unico American President and CEO Cary Cheldin said the costs of infrastructure changes like employee severance and IT consulting that the company implemented in the second quarter affected the company's financial results. The CEO also disclosed that the company had unfavorable claims experience from prior accident years.

Total revenues climbed to $9.2 million in the second quarter from $8.7 million in the prior-year quarter.