Fremont General’s profit increased 454% to $4.4...
Fremont General’s profit increased 454% to $4.4 million for the second quarter. The Santa Monica holding company, which engages in financial services and owns Fremont Insurance Group, credited a 145% gain in income from its unconsolidated property and casualty group due to improved underwriting results and income tax benefits. This offset an 88% loss in the firm’s financial services group because of lower bond income and heavier losses in group health insurance.
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