Transamerica Net Sets Record in 3rd Quarter

Transamerica Corp., pulling out of travel and manufacturing businesses to concentrate on insurance and financial services, reported record results for the third quarter and first nine months of the year.

Net income in the quarter ended Sept. 30, which included gains on investment transactions and results from discontinued operations, totaled $105 million, compared to $16 million for the same period in 1985.

James R. Harvey, Transamerica’s chairman and chief executive, said insurance brokerage, consumer lending and title insurance and tax service operations reported record earnings, while the turnaround continued in property and casualty insurance operations.

Harvey said Transamerica completed the sale of its car and truck rental operation, Budget Rent a Car, and discontinued flight operations at Transamerica Airlines, its air travel subsidiary.