SCIF Reports 1.8% Increase in Earned Premiums

California’s State Compensation Insurance Fund reported a 1.8% increase in earned premiums, to $1.334 billion in 2018 compared to $1.31 billion in 2017. The carrier said in its 2018 annual report published Thursday that net income more than quadrupled, to $187 million last year from $40 million in 2017. State Fund reports that its incurred losses increased, to $961 million from $521 million, while incurred loss adjustment expenses fell, to $364 million last year from $1.014 billion in 2017. Underwriting and administrative expenses increased, to $469 million from $433 million, but the ...