Pacifico Property and Casualty Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
For the full year, the company reported net income of $50,302,000 against $59,645,000 a year ago. A year-on-year analysis indicates that net earnings fell 54.4% due to a decline in the underwriting result ($7.5 million) due to lower premiums, primarily relative to the AFP, and higher acquisition costs.