CRM Holdings reported net income of $3.1 million in the second quarter, down 40% from the $5.2 million reported in the second quarter of 2007.CRM said in the prior-year quarter, it benefited from the novation of excess insurance agreements from a third party, which added $.07 per share to earnings.CRM said that revenues from fee-based management services dropped to $3.1 million in the second quarter, compared to $8.1 million in the prior-year quarter, as it exited the New York self-insured group trust business. The company also reported lower insurance rates in California and reduced commissi...
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