CII Financial’s Profit, Revenue Surge Upward
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CII Financial Inc. said its first-quarter net income more than doubled from a year earlier on a 34% jump in revenue.
CII, a workers’ compensation insurance concern based in Burbank, said its profit in the quarter that ended March 31 soared to $2.65 million from $1.06 million a year earlier. Its revenue rose to $25.5 million from $19 million.
The company, whose principal unit is California Indemnity Insurance Co., said the gains reflected its expansion efforts and “careful underwriting standards” in accepting new policyholders.
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