State Compensation Insurance Fund...
... California’s workers’ compensation carrier of last resort, has posted 2008 net income of $75.1m, marking a decline of 77% that reflected a 37% drop in earned premiums to $1.66bn. State Fund’s underwriting loss grew to $735.8m from $586m, while net investment income fell 6.8% to $896.2m. Policyholder surplus grew 3.7% to $5.09bn during the year.
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