... has posted first-half net income of $8.29m, a decline of 52% that reflected a 28% increase in claim losses to $79.8m against a 4.9% rise in earned premiums to $118m. The group’s H1 loss ratio rose to 67.2% from 54.9%, while the combined ratio rose to 97.5% from 84.5%. CEO John Pasqualetto said that the group expects an improvement during the second half of the year owing to a 10.6% rate increase that takes effect next month for its customers in California, its largest state market.
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