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Infinity Q1 Revenues Up Marginally To $222.9m

Infinity Property and Casualty has reported total revenues of $222.9m for the first quarter of 2010, a marginal increase of 0.3% compared to $222.2m for the same quarter in 2009.

Infinity Property’s operating earnings for the quarter were $16m, or $1.18 per share, compared to $16.8m, or $1.19 per share for the same period last year.

The company posted gross premiums written of $256.4 for the first quarter of 2010, an increase of 9.9% compared to $233.3m for the same quarter in 2009.

For the quarter ended March 31, 2010, the company posted a net income of $15.6m, or $1.15 per diluted share, compared to $10.8m, or $0.76 per diluted share for the same period last year.

James Gober, chairman, president and CEO of Infinity Property and Casualty, said: “We were able to build on the momentum from the fourth quarter of 2009 and grow in six of our eight Focus States. And while the economic conditions and competitive environment will remain challenging, we believe this growth in premium will continue for the entire year.”