Mercer Insurance Q3 net income increases

Mercer Insurance Group, Inc. has reported a net income of $3.87 million, or $0.6 per diluted share, for the third quarter ended September 30, 2010, compared to $3.55 million, or $0.56 per diluted share, for the third quarter ended September 30, 2009.

Total revenues for the third quarter of 2010 were $38.13 million, compared to $39.27 million, for the third quarter of 2009.

Net income for the nine months ended September 30, 2010 was $11.12 million, or $1.73 per diluted share, compared to $10.19 million, or $1.61 per diluted share, for the nine months ended September 30, 2009.

Total revenues for the first nine months of 2010 were $115.31 million, compared to $118 million, for the first nine months of 2009.

Andrew Speaker, president and CEO of Mercer Insurance Group, said: "We are pleased with our overall operating results despite the continued challenging operating environment. The property and casualty insurance industry, and in particular those companies like us who are focused on commercial lines of business, continues to face the dual challenge of a price sensitive market-place and a weak economy. The disciplined and careful approach we take to underwriting our business continues to generate steady results in this difficult market."