Unico Posts 14% Profit Increase for Quarter

Unico American Corp., a Woodland Hills insurance holding company, said its profit in the fourth quarter that ended Dec. 31 was $1.75 million, up 14% from $1.53 million in the third quarter last year.

Revenues in the fourth quarter were $11.7 million, up 7% from $10.9 million in the third quarter last year. Net premiums written during the quarter totaled $9.8 million, up 13% from $8.7 million last year.

Unico recently changed its fiscal year-end to Dec. 31, so the year-end results represent only nine months.

For the nine months, profit was up 21% to $5.2 million from $4.3 million in the first three quarters of last year. Revenues were up 11% to $34.9 million from $31.5 million, and net premiums written were $28.1 million, up 14% from $24.7 million a year ago.