PacificComp Lost $19.7M in 2014, down from $33.2M Loss in 2013

PacificComp, a workers' compensation insurance subsidiary of Alleghany Corp., posted a $19.7 million loss in 2014. The company grew its net earned premiums 73% from $38.9 million in 2013 to $67.3 million last year, according to Alleghany's fourth-quarter earnings release, but its losses and loss-adjustment expenses rose 69.7% from $31 million to $52.6 million. An additional $32 million in commissions, brokerage and other underwriting expenses brought the company's bottom line into the red. The loss is smaller than last year's, when the company's net loss was $33.2 million...