RTW Blames Soft Market for Decreased Earnings

RTW Inc. on Thursday reported net income of $1 million for the third quarter of 2006, a 50% decrease from the same period last time. Premiums earned in the third quarter totaled $10.8 million, down 14.3% from $12.7 million for the same period in 2005, RTW said in a press release. Premiums in force at quarter end totaled $48.9 million compared with $52.9 million on Dec. 30, 2005 and $55.9 million at Sept. 30, 2005. Service revenue was flat at $1.4 million in the third quarter of 2006 compared with the third quarter of 2005. "We continue to see downward pressure in insurance pricing," sai...