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Mercer Insurance Reports Q2, First Half Earnings

Reported GAAP net income of $3.8 million, or $0.60 per diluted share

Mercer Insurance Group, a provider of personal and commercial lines, has declared its operating results for the six months and quarter ended June 30, 2009.

In the quarter ended June 30, 2009, the company reported GAAP net income, under US generally accepted accounting principles (GAAP), of $3.8 million, or $0.60 per diluted share. This result compares to net income of $3.2 million, or $0.51 per diluted share, for the same quarter in the previous year. Operating earnings increased to $3.5 million from $3.1 million reported in the prior year’s quarter.

In the six months ended June 30, 2009, the company reported GAAP net income of $6.6 million, or $1.06 per diluted share. This result compares to net income of $5.8 million, or $0.91 per diluted share, for the same period in the previous year. The company’s operating earnings increased to $6.7 million from $6.3 million in the prior year.