Ullico Inc. on Monday reported net income of $2.1 million for the third quarter of 2008, compared to a net loss of $19.4 million in the prior-year quarter.The insurance carrier said its Property and Casualty Business Unit generated pre-tax earnings of $2.9 million, compared to $2 million for the same period last year. Core earnings on the fiduciary and union liability lines continue to exceed expectations due to sound underwriting, the company said. Revenue from continuing lines was $13.9 million, an increase of 50% over the same quarter in 2007.The increase was a result of continued strong sa...
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