EMC Insurance Group Inc. today reported fourth-quarter operating income of $12,489,000, compared with $12,729,000 for the year-ago period.
Net income, including realized investment gains and losses, totaled $15,834,000, or $1.20 per share, compared with $12,998,000, or $1.01 per share, for the fourth quarter of 2012. For the year ended Dec. 31, the company reported operating income of $37,671,000, a 15 percent increase from the same period in 2012.
"The fourth quarter was a solid finish to a strong year," EMC President and CEO Bruce Kelley said in a release. "The reinsurance segment produced exceptionally good results for the fourth quarter and full year, and the property and casualty insurance segment's results are in line with expectations. As a result, operating income per share for the year exceeded the high end of our operating income guidance."