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Citizens profits up 7.3%.
(From Insurance Day)
Byline: Peta Miller
CITIZENS, a US life insurer, has reported net 2002 income of $4.3m, up 7.3% on the $4m figure it reported the year before, writes Peta Miller.
An accounting change, new business generation following a number of acquisitions and increased net investment income all contributed to the jump.
Premiums increased 26.4% to $68.2m, from $54m the year before, partly boosted by the acquisitions of Combined Underwriters Life and Lifeline Underwriters Life, which together generated premiums of $10.7m.
Net investment ...
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