EMC's Net Income Falls 69% in Q3 Despite P&C Revenue Growth

EMC Insurance Group reported a 69% decrease in net income in the third quarter of 2014, despite growth in its property and casualty operations. The company's net income fell from $7.2 million in the third quarter of 2013 to $2.2 million in the same period this year, according to a Friday press release. Its revenues from property and casualty increased 7.8% from $107.96 million to $116.38 million, while its income from reinsurance fell 4.3% from $35.15 million to $33.64 million. Meanwhile, EMC's total expenses climbed 9.8% from $134.55 million to $147.75 million. "Whil...