EMC Income Down From Record Amid Rate Competition

EMC Insurance Group Inc. reported Tuesday operating income of $6.9 million ($0.50 per share) for the third quarter of 2007,  compared to the record $11.6 million ($0.85 per share) reported for the third quarter of 2006. For the first nine months of 2007, operating income was $34.6 million ($2.52 per share), compared to the record $40.1 million  ($2.93 per share) reported in 2006, EMC said in a press release.Net income, including realized investment gains/losses, was $6.7 million ($0.49 per share) for the third quarter of 2007, compared to $11 million ($0.80 per share) for the third q...