Harleysville: Reduced WC Lines/Increased Premiums

Harleysville Group Inc. (Nasdaq: HGIC) on Friday reported diluted operating income of $0.33 per share for the second quarter ended June 30, 2003, compared to $0.46 per share in the same period of 2002. For the six months ended June 30, 2003 and 2002, diluted operating income per share was $0.23 and $0.89, respectively. Operating income is a non-GAAP financial measure defined by the company as net income excluding after-tax realized gains and losses on investments. "Unusual large loss activity and the poor performance of our personal lines business were the primary drivers of our unsatisfact...