Harleysville - 18% Increase, Comp Still Troubled

Harleysville Group Inc. (Nasdaq: HGIC) Friday reported an 18 percent increase in its second quarter 2002 diluted operating earnings per share, continued growth in its small commercial business and improved profitability in most business lines. "We had outstanding operating results due to our progress in implementing our small commercial business strategy," commented Walter R. Bateman, Harleysville Group's chairman, president and chief executive officer. "Our improved quarterly combined ratio reflects our commitment to disciplined underwriting. Commercial lines pricing remains stron...